Software development test engineer

Ca Mau (VNA) – Endowed with a 254-km coastline and an abundance of aquatic resources, the southernmost province of Ca Mau has viewed sea-based economic development as an inexorable trend to help it create breakthroughs in socio-economic development.

Priority on infrastructure development

Due attention has been given to developing infrastructure in order to develop the blue economy in an effective and sustainable manner that is commensurate with the province’s advantages and potential.

Ca Mau plans to continue calling for investment in infrastructure at the 10,802-ha Nam Can Economic Zone , which is envisaged to become a sea-based economic zone with sound logistics services to meet regional and international distribution demand.

It is also encouraging investment to build Song Doc and Nam Can towns into third-tier urban areas by 2025.

Along with developing fifth-tier urban areas in coastal districts such as Dam Doi, Ngoc Hien, Phu Tan, Tran Van Thoi, and U Minh, the province will invest in engineering and shipbuilding industries at the Song Doc, Khanh Hoi, and Rach Goc estuaries, while carrying out construction of the Tan Thuan, Rach Goc, and Cai Doi Vam industrial clusters.

Socio-economic infrastructure in coastal communes, districts, and islands are being completed, providing the conditions necessary for blue economic development .

The province has given top priority to investment in important economic sectors such as aquaculture, tourism and services, renewable energy, and the maritime economy.

It is also improving local fisheries infrastructure to enhance logistics services, and calling for investment in logistics centres in Hoa Trung, Nam Can, Song Doc, and Hon Khoai.

Comprehensive development of the blue economy promoted

Known as one of Vietnam’s four key fishing grounds and with abundant and diverse aquatic resources, of which many have high economic values, Ca Mau has sharpened its focus on developing fisheries exploitation, which is a spearhead economic sector.

The province targets catching 800,000 tonnes of fish and seafood by 2030.

Along with developing a strong fishing fleet of more than 4,500 vessels, the province will also re-arrange seafood production based on expanding cooperatives and collectives to benefit fishing families and the sustainable protection of the ecosystem.

Ca Mau will fund the upgrading of infrastructure at fishing ports and storm shelters, as well as complete a fishing vessel information system to give timely warnings to fishermen in case of incidents at sea or to facilitate search and rescue efforts.

It will work to create concentrated aquaculture areas that produce high-quality aquatic species, apply state-of-the-art technologies into production, and develop a traceability system for products.

Relevant authorities will expand monitoring systems in concentrated aquaculture areas, to provide environmental and disease warnings to farmers.

The province will also work to create jobs for 25,000 local people living in coastal resettlement areas./.

Vietnam’s export turnover during this Lunar New Year saw breakthrough growth, occupying nearly half of the total export-import turnover.

The latest data published by the General Department of Vietnam Customs showed that export volume over the seven days (February 10-16) of the Lunar New Year holiday reached $730 million, rising 79 per cent on-year and accounting for about 44 per cent of the $1.67 billion export-import turnover.

The main export articles include mobile devices and components valued at $332 million; computer and electronic products worth $251 million. The two categories accounted for 80 per cent of the total export value.

This Lunar New Year saw exports going to 80 markets, seven more than last year. China continues to be the leading export market with a value of $189 million (26 per cent). Following are the US ($152 million), South Korea ($67 million), and Hong Kong ($57 million).

According to statistics from the General Department of Vietnam Customs, there were 960 import-export businesses, up 59 per cent on-year. Nevertheless, importers still outnumbered exporters with an import turnover of $940 million, up 37 per cent on-year.

Thus, from early this year to February 16, the total export-import turnover reached $74.51 billion, up 31 per cent on-year. Of this, exports hit $38.57 billion, up 36 per cent on-year while imports reached $35.94 billion, up 26 per cent, resulting in a trade surplus of $2.63 billion.

Drug market forecast to grow by 15 per cent in 2021

The pharmaceutical industry grew by just 2.8 per cent last year, much lower than its average 11.8 per cent growth in the last five years.

It is expected to recover and grow by 15 per cent this year, mainly due to a rapidly ageing population and increasing incomes, analysts at SSI Securities Corporation said.

Last year there was a short supply of active pharmaceutical ingredients from China and India due to social distancing and lockdowns and higher demand for them globally, causing drug prices to rise.

According to the Ministry of Health, domestic drug production grew at 13.8 per cent per year in 2015 – 19 backed by Government policies and construction of new plants.

Vingroup fails to acquire LG Electronics smartphone business

Vingroup is unlikely to be able to realise its ambition to take over LG Electronics’ smartphone manufacturing business.

“LG had been negotiating with Vingroup to sell its smartphone-manufacturing facilities in Vietnam and Brazil, however, the discussions recently collapsed mostly due to different price expectations,” said an industry insider familiar with the matter.

Last month, the Asian media was in a huge stir over the rumoured take-over deal between Vingroup and LG Electronics, the fourth biggest “chaebol” in South Korea.

Accordingly, Vingroup has emerged as the most potential bidder to acquire LG Electronics’ smartphone production line as an important milestone for the Vietnamese group to penetrate the US.

LG reportedly aims to withdraw from the smartphone business due to difficulties, with intentions announced around a month after CEO Kwon Bong-seok said there would be a significant change in operations. The mobile communications business has witnessed losses of around $4.5 billion since 2015.

If the negotiation process is successful, Vingroup could take advantage of LG Electronics’ reputation, innovation, and sales network.

However, with the two sides unable to agree on a mutually acceptable valuation, LG will move on to find another buyer. Also, the company’s smartphone production lines in Vietnam and Brazil can be realigned to manufacture home appliances, noted an official from LG Electronics.He also added there would be no more negotiations with Vingroup, and LG would seek a new buyer, according to Korea Times. VIR

Danang: Mega IT projects to lift up growth

Danang city aims to become an innovative startup metropolis by 2025 by capitalising on a raft of mega IT projects.

Danang is now home to a pipeline of mega IT projects by leading local players, including privately-held CMC Group’s creative space.

According to Nguyen Trung Chinh,CMC chairman, the first phase of CMC Creative Space in Hoa Xuan ward with the investment value of VND12 trillion ($521.74 million) aims to bring jobs to about 2,000 people, which will increase to 10,000 people more in the second phase.

CMC’s target is to turn Danang into an international gateway and major data centre that is part of the strategy to turn Vietnam into a digital hub in the Asia-Pacific.

Through a survey, Danang has the potential to grow into the fourth regional digital hub, following Japan, Hong Kong, and Singapore.

“I am so happy that Danang People’s Committee has quickly released the decision approving the project’s detailed 1/500 planning,” said Chinh.

In light of the approved detailed planning, CMC Creative Space will consist of an R&D space; an IT and software production space; an internet transit station; a date centre; and housing blocks and associated services for experts and employees with a full suite of high-standard utilities.

Deemed as an important pilot project, efforts were taken to ensure speedy approval, paving the way to kick-off the project’s construction in March 2021.

Meanwhile in Ngu Hanh Son district, FPT Corporation, Vietnam’s leading IT firm, has come up with a string of capital-intensive IT projects.

Besides the 5.9ha FPT Complex which has been put into operation attracting more than 3,400 labourers, the company has pumped tens of millions of US dollars into building data centres and a system of educational facilities (schools for all grades and universities).

Nguyen Tuan Phuong, chairman of FPT Software in the central region, unveiled that in the next two years, FPT Group would inject about VND6.7 trillion ($291.3 million) into FPT Technological Urban Area (FPT City Danang) of which about VND1.5 trillion ($65.2 million) will be dedicated to building residential blocks and VND1 trillion ($43.5 million) will be earmarked for the second and third phases of its existing IT service centre to accommodate 10,000 programmers.

The company would further improve FPT City Danang’s infrastructure system with about VND800 billion ($34.8 million) set for building educational facilities.

A string of other projects are promptly in the legal setup phase, awaiting deployment such as VNPT’s IT space (Danang Bay) of more than 35,000 square metres of space in Lien Chieu district with an estimated investment value in the range of VND700 billion to VND1 trillion ($30.43-43.5 million) or the VND2 trillion ($86.96 million) high-tech and software centre of leading military-run telecom group Viettel in Hai Chau district.

These mega IT projects are anticipated to bring breakthroughs to Danang’s development in the upcoming time.

Along with this, the number of IT firms in Danang has been reportedly growing by 25 per cent annually, accounting for 20 per cent of the city’s total number of businesses.

Recent statistics show that Danang accommodates 2.1 IT firms over 1,000 residents, more than quadruple the country’s average. By the end of 2020, the city had 40,500 IT personnel, 20,000 of whom of them 20,000 have been working in the fields of software and digital content creation with per capita monthly wages averaging VND17.8 million ($770).

Nguyen Tuan Phuong from FPT Software shared that digital transmission is taking the whole world by storm, especially amid recent COVID-19 complexities.

“This movement is favourable for Vietnam’s IT industry generally and Danang in particular. The city needs to work on policies to accelerate the development of the IT sector, placing emphasis on training high-quality IT personnel. Availing itself of this opportunity effectively could bring numerous tailwinds to Danang in its digital transformation journey,” Phuong said.

Apt solutions sought for local solar power

The year 2021 will be characterised by an even bigger challenge for the authorities and developers to standardise the quality level of rooftop installations in terms of compliance to construction law, electrical standards, and fire safety, and to match grid availability and local consumption after the Vietnamese rooftop solar market skyrocketed last year.

Prime Minister Nguyen Xuan Phuc last week asked the Ministry of Industry and Trade (MoIT) and Electricity of Vietnam (EVN) to review issues related to Vietnam’s solar power development as well as avoid massive solar development without a proper plan, which could cause power grid overload.

According to the updated data, as of December 25, 2020, there were 83,000 rooftop solar power projects connected to the power system with a total installed capacity of nearly 4,700 megawatts-peak. The total power generation output to the grid from rooftop solar power has reached more than 1.13 billion kWh, contributing to ensuring power supply for the national power system.

Meanwhile, there is no new decision or guidance for implementation of the policy after Decision No.13/2020/QD-TTg issued last April on encouraging mechanisms for solar power development in Vietnam, which had its deadline set for December 31 last year for solar systems of any scale to attain a certificate of delivery and enjoy the feed-in tariff 2 (FiT2) rate, in which the price of each kilowatt-hour generated from ground-mounted, floating, and rooftop solar initiatives were 7.09, 7.69, and 8.38 US cents, respectively.

As a result, it remains uncertain which pricing mechanism will apply to grid-connected solar power projects reaching commercial operation date in 2021.

EVN announced its power companies had ceased buying rooftop solar power after December 31 to wait for further guidance from the government. It will also handle requirements for connection and signing power purchase and sales contracts from solar power systems started before the deadline.

Deputy general director of locally-invested Son Ha Group Hoang Manh Tan said the fact that there is no policy available will make it difficult for businesses to formulate strategies and implement them. Enterprises need continuous and consistent policies, and the gap issue creates difficulties for EVN, other enterprises, and their partners, Tan said.

Thus, ministries and authorities in the coming time must find the right supporting mechanism that enables an organic development of rooftop solar, and minimises loopholes and speculative projects, such as solar farms disguised as rooftop systems.

The prime minister also asked the MoIT to carry out the work of inspecting solar power development in localities and power companies, ensuring compliance with regulations.

It must promptly correct and handle any mistakes, especially operating policies that benefit outdoor voltage deployment over time as well as take measures to minimise the shutdown of renewable energy sources in operation, and minimise the economic losses of investors and waste of renewable energy sources.

At the same time, the boom in solar development also poses a question for the grid operator about how to optimise renewable electricity feeds into the grid, while considering the best interests of electricity producers.

Solar energy expert Mai Van Trung told VIR that in order to keep the average selling price there are several options, including increasing the curtailment or adding more solar power plants and rooftop solar systems with a very low FiT3 rate to compensate the subsidisation of EVN.

The former option over a wide scale could however hurt financial indicators of many projects because of leverage from bankers.

Meanwhile, the latter option could distract potential investors to put the money down. Moreover, the capacity absorption of the national grid is limited due to the intermittency of solar power, Trung said.

There is a declining trend of engineering, procurement, and construction costs of rooftop solar systems over time that can be utilised if the absorption capacity of the grid is available even with the storage added.

Vietnam has plans for solar power auctions but the qualified projects are small and located in lower solar irradiance. Green and cheap credits from international institutions are ready to enter, but the room left for additional capacity is currently being narrowed.

According to the MoIT, there are currently 16 national standards promulgated by the Ministry of Science and Technology related to solar power in the country. However, there is a lack of specific standards for the two main components of rooftop solar power projects – panels and inverters.

In late 2020, the National Assembly passed the new Law on Environmental Protection, which stipulates extended producer responsibility (EPR) for businesses in Vietnam. This means that businesses and producers now bear the responsibility for the waste of their products, including solar panels.

EPR is intended to reduce the cost of managing end-of-life products by reducing waste volume and increasing recycling, thereby contributing to the prime minister’s new target of reducing the amount of waste that goes to landfills by 80 per cent by 2025.

EPR has the potential to create new economic opportunities and share the financial burden of solid waste management more fairly.

According to the new law, businesses can implement EPR in one of three ways including doing the recycle themselves, conducting recycling through a third-party product recycling organisation, and making a financial contribution to the Vietnam Environmental Fund.

According to the draft EPR decree, businesses that recycle themselves or do so via a third party will have to report through a national EPR data portal managed by the Ministry of Natural Resources and Environment.

If a business that does the recycling itself fails to reach the target over 3-5 years in a row, it will be forced to participate in one of the other two mechanisms.

A business that refuses to choose any mechanism will be fined; and if it exceeds its recycling target, it can sell credits to other businesses through a tradable credit system.

Auto imports reach nearly 12,000 units over past 1.5 months

Vietnam’s import of cars between January 1 and February 15 this year reached 11,791 units, worth US$280 million, soaring 84.7% in volume and 76.2% in value against the 2020 figures, according to the General Department of Vietnam Customs.

Of these, the country imported over 3,400 completely built-up units worth over US$66 million from February 1 to 15.

During the past 1.5 months, the number of imported cars with nine seats or less totaled 2,477 units worth US$42.5 million, while 812 trucks valued at US$15.9 million were imported in the period.

Earlier, the country imported more than 8,300 cars worth over US$212 million in January, including over 5,200 cars with nine seats or below and 2,230 trucks. These cars were mostly imported from Thailand, China and Indonesia.

SSI Research forecast that the auto consumption in Vietnam this year could rise some 16% versus last year’s figure. Specifically, SSI Research said that the country’s GDP per capita could improve 8-10% annually in the next decade, while vehicles are more affordable to many more people.

In addition, the volume of locally-made cars is on the rise and scores of companies are focusing on business expansion to lower car prices to attract more customers.

Also, many auto manufacturing and assembly plant projects are scheduled for completion in the next three years, which will add a vibrant atmosphere to the local auto market and offer more benefits to customers.

Further, taxes and surcharges on cars are being steadily reduced under free trade agreements between Vietnam and other countries. This will help cut down on auto prices and stimulate the demand for cars.

Growing concern over overload on Vietnam stock market

The problem if further persists in long-term will make investors become disillusioned on the fairness and transparency of Vietnam’s stock market.

The frequent overload of orders forcing the stock exchange to halt market trading is causing frustration among investors.

Insiders have said that the trading halts, which occurred on the Vietnamese stock exchanges recently, aim to correct an order imbalance as a result of a technical glitch or due to regulatory concerns. When a trading halt is in effect, open orders may be canceled and options still may be exercised.

“Investors want competent authorities to take responsibility for these incidents, not just an apology,” said Nguyen Bich Ngoc, an experienced investor in the stock market, adding the unstable system is putting investors at risks.

Both before and after the Tet holiday, the overload occurred multiple times on both the Ho Chi Minh City and Hanoi stock exchanges whenever liquidity in a trading session hit around VND14-17 trillion (US$608-738 million).

“The phrase of “unplug the power cord” has become a hot topic in every securities forum and social networks,” Ngoc added.

From her own experience, Ngoc said at a trading session on February 19, when she and other investors placed an order at 1pm, but until 2:48pm, the system notified their placement was expired while the transaction period had not ended.

“Orders for purchasing stocks after 1:30 pm or 2pm in the past month were often delayed in process and not submitted to the stock exchanges,” she continued.

“Investors were left to watch their stocks going up or down in values and do nothing,” Ngoc fumed, while saying a lack of solutions to resolve the matter substantially from the Ministry of Finance or the State Securities Commission of Vietnam (SSC) only makes the matter worse.

“We are now forced to live with a faulty system and bear all the risks when we could not sell or buy stocks in case of system overload,” Ngoc stressed.

Last year, the stock market has witnessed strong growth and beat a series of records in terms of the number of new investors and the amount of capital inflows. In contrast with such strong growth, the issue if further persists in long-term will make investors become disillusioned on the fairness and transparency of Vietnam’s stock market, Ngoc stated.

“Investors will not accept losing money in such way or any apology from the authorities when the situation remains unchanged,” she said.

“The SSC must give a clear deadline to resolve this issue one and for all,” Ngoc concluded.

Previously, the SSC attributed the overload issue on the Ho Chi Minh Stock Exchange to the transaction processing capacity of the stock exchange that limits the number of transactions per day, while a recent surge of orders has exceeded the expectation of the market.

To ensure the smooth operation of the stock market, the SSC requested related agencies to optimize the transaction process by increasing the minimum trading lot from 10 to 100 shares, starting from January 4, 2021.

The SSC also urged securities firms to prevent their internal errors or limit automatic transaction.

For mid-term, the HoSE is tasked with upgrading the transaction backup system to ensure the safety of the system until the new IT system for the stock market with support from the Korea Exchange (KRX), South Korea’s bourse operator, is put into operation.

Data from the General Statistics Office (GSO) revealed the amount of capital poured into Vietnam stock market surged 20% in 2020 to VND383.6 trillion (US$16.64 billion). The average transaction value in the stock market is estimated at VND7.05 trillion (US$304.8 million) per session, up 51.5% year-on-year.

Meanwhile, the number of new investors soared by 109% in 2020 against the previous year.

Lam Dong to get first wind plant

GE Renewable Energy has signed a contract with the Ocean Renewable Energy Joint Stock Company to supply 15 wind turbines to its Cau Dat Wind Farm, the first in the Central Highlands province of Lam Dong.

Construction is expected to be finished by the third quarter of 2021.

Gilan Sabatier, regional leader for GE Renewable Energy’s onshore wind business in South Asia and ASEAN, said: “We thank Ocean Renewable Energy Joint Stock Company and their leadership team for selecting GE for this project. The award of the Cau Dat wind farm further validates the great work we have done in Vietnam and reaffirms our contribution to the country’s energy transition.”

Do Van Binh, General Director of Ocean, said, “We are delighted to sign this important deal with GE Renewable Energy for our first wind farm project.”

GE is the only wind original equipment manufacturer in the country./.

Bac Giang betters master plan on IPs development

The northern province of Bac Giang is improving a master plan on the development of industrial parks (IPs) and complexes, as well as land use planning, according it its provincial Party Committee.

The province is also refining a master plan on urban areas for the 2021-2030 period to attract investment.

It built a project on supporting start-ups in the locality, towards strongly developing private economy, and issued a list of projects in need of investment in the fields of agriculture and rural development.

The locality considered building mechanisms to support investment in hotel construction projects and hi-end services.

In particular, Bac Giang will step up administrative reform, improve the provincial competitiveness index, pool resources to build key socio-economic infrastructure while enhancing the quality of human resources and State management on projects.

The province will actively assist investors and businesses in tackling difficulties and accelerating projects, especially those regarding infrastructure construction and business in IPs.

From 2016 to the end of 2020, the province drew 909 projects worth over 5.88 billion USD, marking a 3.5-fold rise from 2011-2015, 616 of them were domestic ones with total registered capital of over 55.7 trillion VND (2.42 billion USD), and 3.84 billion USD were foreign direct investment.

It is now home to 1,786 valid projects, including 1,311 domestic ones worth more than 92.2 trillion VND and 475 foreign-invested ones valued at over 6.2 billion USD. Projects are mostly in industry with 54.3 percent, trade and services 40.5 percent, and agriculture 5.6 percent.

Since 2016, Bac Giang has granted licenses to over 6,000 enterprises and 705 branches and representative offices, with a combined registered capital of more than 64.3 trillion VND. Its gross regional domestic product has expanded by 14 percent annually.

Cumulatively, there have been 10,837 businesses so far in the province, including 466 foreign ones with a registered capital of 3.542 billion USD and more than 10,300 others with over 84.9 trillion VND./.

Binh Duong among world’s outstanding smart communities for three consecutive years

The southern province of Binh Duong has made itself onto the list of 21 localities worldwide having outstanding smart city development strategies (Smart21) this year, which was unveiled on February 25 by the Intelligent Community Forum (ICF).

It is the third year in a row that the province has received the recognition. Binh Duong is also the first Vietnamese locality to be named in the Smart21.

Gaining a place among the year’s Smart21 is considered a badge of honour as well as the first step toward greater recognition as an Intelligent Community positioned to prosper in the broadband economy, the ICF noted.

Workers at a factory in Bau Bang Industrial Park of Binh Duong (Photo: VNA)

There are currently 180 members from different countries, territories, cities and regions participating in the ICF./.

HCM City aims to build AI centres at regional level

Ho Chi Minh City plans to build at least two centres for Artificial Intelligence (AI) research and development as well as technology transfer at ASEAN level.

It is part of the city’s programme on AI research and development for the 2020-30, which was recently approved by the municipal People’s Committee, aiming to turn HCM City into a hub of Vietnam and ASEAN in the field.

In addition, the city will look for qualified personnel in the spheres of data science, big data analysis, natural language processing, computer vision, speech recognition, information security and Internet of Things, among others.

The southern economic hub has set a target to raise the number of AI research papers and patents by 20 percent in the period.

Vietnam sets a goal of being listed in Top 4 in ASEAN and Top 50 of the world in terms of AI research, development and application by 2030.

The target was set in a National Strategy on AI Research, Development and Application by 2030 recently approved by Prime Minister Nguyen Xuan Phuc.

The strategy aims at stepping up AI research, development and application to make it an important technological industry of Vietnam./.

Investment funds in Vietnam remain optimistic despite poor performance

Despite negative performance due to strong fluctuations in Vietnam’s stock market in January, big investment funds in the market remain optimistic.

Vietnam Enterprise Investments Limited (VEIL), a closed-end investment trust managed by Dragon Capital and the biggest investment fund in Vietnam’s stock market, recorded negative growth during the period.

The fund’s performance was negative 3.61 percent in January. VEIL manages assets worth 1.7 billion USD.

As of the end of January, VEIL’s biggest investments were in the banking sector, accounting for 27.13 percent of its investment value, followed by investments in real estate (26.43 percent) and food and beverage (10.17 percent). However all investing sectors had poor performance with banking and real estate sectors posting the biggest losses.

After gaining points in the first half of January, the stock market witnessed some strong corrections as profit booking dragged down the VN-Index. The profit taking was magnified by panic over margin calls.

The market benchmark VN-Index declined 4.28 percent in the first month of 2021.

Dragon Capital said that recently, the fund restructured its investment process with the number of target stocks cutting down to 28 – 32 from 35 – 40.

Finnish equity fund PYN Elite also witnessed is its net asset value (NAV) drop 5.39 percent in January, mostly due to losses in Vietnam Engine and Agricultural Machinery Corporation (VEA), Vietnam JSC Bank for Industry and Trade (CTG) and PetroVietnam Power Corporation (POW). It marked the worst performance of PYN Elite since 2017.

The fund manages total assets worth 572 million USD.

In a letter to investors in February, Petri Deryng, portfolio manager of PYN Elite, said that Vietnam’s stock market began 2021 on a negative note, but the prospects for the whole year are still very positive.

Vietnam’s economy, which has obtained some achievements, rising profits of listed companies and appealing stocks’ valuation are factors contributing to the bright prospects of the market.

The market saw strong fluctuations after the VN-Index surged quickly from 900 points to 1,200 points in just ten weeks.

During the turbulent month, PYN Elite used all of its resources to buy Vinhomes JSC (VHM) shares, making it the biggest investment of its portfolio. At the moment, VHM shares account for 9.82 percent of its portfolio, worth 1.5 trillion VND.

Another investment fund posting negative performance in January was AFC Vietnam Fund, with growth of negative 1.9 percent.

The fund assessed the plunge of the market after rising over 20 percent in the fourth quarter of 2020 and gaining 8 percent in the first seven trading sessions of 2021 was a healthy movement. And reaching the 1,200 point level by the VN-Index was really attractive, luring new strong inflows to the market.

Top five investments of AFC Vietnam Fund were Agriculture Bank Insurance JSC (ABI), accounting for 8.1 percent of its investment value, LienVietPost Joint Stock Commercial Bank (LPB), Dinh Vu Port Investment and Development JSC (DVP), VNDirect Securities Corporation (VND) and Phu Tai JSC (PTB).

As of the end of January, the fund invested most in the financial sector (35 percent of its portfolio) and industrial sector (23.5 percent)./.

Bac Giang: 771 mln USD raised for transport infrastructure development in five years

The northern province of Bac Giang has raised a total of over 17.8 trillion VND (771.54 million USD) in investment for local transport infrastructure development since 2016.

The capital has been injected into a number of key projects, notably a section of Hanoi’s Belt Road No.4 crossing Bac Giang, worth 1.23 trillion VND; upgrade of Provincial Road 295 crossing Voi – Ben Tuan and Ngoc Chau – Thang township, 245 billion VND; and a 5-km road connecting Provincial Road 293 and My An Port in Luc Nam, 115 billion VND.

Over the last five years, the province has developed 11 transport projects under Public-Private Partnership (PPP) scheme, with a total investment of more than 7.5 trillion VND. They include two Build-Operate-Transfer (BOT) projects managed by the Ministry of Transport and eight Build-Transfer (BT) by the province. A majority of the funding, 4.2 trillion VND, has been spent on developing Bac Giang – Lang Son Expressway under a BOT contract.

In addition to private funding, Bac Giang has used Official Development Assistance (ODA) loans for transport infrastructure projects. The largest among ODA-funded projects were 272-billion-VND Dong Bac Belt Road and Tran Quang Khai Bridge project in Bac Giang city financed by the Asian Development Bank (ADB) and the 135-billion-VND Local Bridge Construction and Road Asset Management (LRAMP)’s local bridge component funded by the World Bank (WB).

The province has also spent over 2.18 trillion VND from its budget and close to 1.75 trillion VND from private funding to concrete more than 4,210 km of roads, mostly rural roads.

Thanks to such efforts, Bac Giang is now home to about 153km of expressways which are more than 8m in width, accounting for over 46.4 percent of the total.

It has also concreted over 97.3 percent of district-level, 98.1 percent of commune-level and 92.3 percent of village roads.

In the coming time, Bac Giang plans to attract private investors in transport services, such as inland ports, parking, bus stations, and rest stops. The province will also jointly develop inter-provincial roads with neighbouring localities and by 2025, cooperate with the Ministry of Transport and BOT investors to expand Xuong Giang and Nhu Nguyen bridges on the Hanoi – Bac Giang Expressway./.

Vinh Long works towards sustainable export growth

The Mekong Delta province of Vinh Long is striving to boost sustainable export growth during 2021-2025.

The province has set the target to reel in 870 million USD from exports by 2025, with key export markets including ASEAN, Japan, China, China’s Taiwan, Russia, East European countries, Africa, the EU and the US.

According to Director of the provincial Department of Industry and Trade Nguyen Trung Kien, seeing rice as a key export, Vinh Long plans to ship average 100,000-200,000 tonnes of high-quality rice per year abroad until 2025, and work to increase price of local rice while diversifying rice products to branch out markets.

Holding a huge advantage of tra and basa fish farming, the province eyes to sell some 20,000 tonnnes of frozen tra fish to foreign markets by 2025.

Kien said Vinh Long is making efforts to gain 35-40 million USD from exports of grape fruits, canned fruits, dried fruits, and vegetables by 2025, adding areas were zoned off for cultivation of vegetables and orchards such as grape fruit, orange, tangerine, longan, and mango, among others.

Additionally, the locality targets 530-600 million USD in export revenue of leather footwear and garment-textile, and 60 million USD in export revenue of handicraft products by 2025.

In a bid to realise the set goals, an array of measures were outlined, Kien said, stressing due attention will be paid to developing agricultural processing industry and finished goods to better the products’ value and their competitive edge in the market.

Kien said along with support policies for local production, the province will improve technical services to promote mechanisation of agriculture, particularly post-harvest processing and preservation.

Investment promotion will be given priority so as to attract investment in supporting industries for footwear, garment-textile, electronics and engineering sectors, helping local producers and exporters improve their products’ competitiveness.

On the other, the province encourages local businesses to develop materials zones to ensure stable input for production, apply advanced technology to better products’ quality, while building brands to gain foothold in the market.

According to the Department of Industry and Trade, the province is now housing 40 export firms, including 15 foreign-invested businesses.

During 2015-2020, the locality’s export revenue rose significantly, from 302 million USD in 2015 to 570.5 million USD five years later. The North America accounted for the lion’s share of the province’s export, accounting for 37 percent of the total shipments, followed by Europe (31 percent), and Asia (29 percent)./.

Vietnam offers numerous investment opportunities for Indian businesses

The increasing importance of Vietnam in global supply chains is great potential helping to enhance the Vietnam-India relations, particularly between small- and medium-sized enterprises (SME) that are considered the main drivers for economic growth in each country, heard an online conference on February 25.

The bilateral trade-investment promotion conference titled “Boosting trade-investment cooperation opportunities between Vietnamese and Indian SMEs” was jointly organised by the Trade Office of the Vietnamese Embassy in India, Uttar Pradesh state government, the Indian Industries Association (IIA) and the Hanoi SME Association.

IIA President Pankaj Gupta said that several major enterprises of India such as Adani Group, Mahindra, SRF and Suzlon have shown interest in investing in Vietnam.

He suggesting Indian enterprises invest in Vietnam in the fields of energy, mineral exploration, agricultural chemicals, sugar production, tea, coffee, information technology, and automobile components.

Vietnam is currently holding a lot of advantages for investors such as favourable investment policies, numerous free trade agreements, rapid economic growth, stable political situation, cheap labour costs, and young labour force, he stated.

However, participants pointed to several challenges for foreign investors in Vietnam, including high corporate tax rates of 32-50 percent for companies operating in oil and gas exploration and exploitation and other valuable natural resources, complicated administrative procedures, and dependence on cash transactions.

Meanwhile, Vietnamese Ambassador to India Pham Sanh Chau proposed the two countries’ enterprises expand cooperation in supporting industry, automobile and motorbike spare parts, garment and footwear materials and household appliances.

According to the Vietnam Foreign Investment Agency, as of December 2020, India had nearly 300 valid projects in Vietnam with total investment of nearly 900 million USD, ranking 26th among countries and territories pouring capital into the Southeast Asian nation./.HCM City keeps shutdown of certain services in place

Fruit & vegetable exporters should tap into Northern Europe’s niche market: Newspaper

Vietnamese businesses are believed to possess opportunities, especially in niche markets, when exporting fruit and vegetables to Northern Europe, according to the Cong Thuong (Industry & Trade) newspaper.

The Vietnamese trade office in Sweden said that due to unfavourable weather conditions, Northern European countries very much depend on imported fruit and vegetables, with over 90 percent of fruit and 40 percent of vegetables coming from foreign sources.

The importation of tropical fruit has been growing quickly in recent years, opening up opportunities for both existing and new exporters from developing countries, including Vietnam.

Developing countries account for more than 50 percent of the supply of fruit such as papaya, mango, pineapple, dates, tamarind, and passionfruit imported to the market, and 30 percent of avocado, figs, melons, and grapes.

The EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020, has also generated considerable advantages for Vietnamese firms, as most tariffs on fresh fruit and vegetables have been slashed to zero percent, the trade office noted.

Despite the optimistic outlook, Cong Thuong wrote, the market is relatively small compared to others in Europe. It’s also not easy for new exporters to compete with multilateral fruit and vegetable providers, logistics firms, and packaging companies with a long presence there.

Vegetables grown in Europe now account for 90 percent of those imported into Northern Europe, while those from developing nations stand at less than 10 percent.

Off-season produce like tomatoes and bell peppers are often provided by countries near Northern Europe. Geographical distance and a lack of direct air routes to the region also pose certain difficulties for Vietnam’s fruit and vegetable exports.

The newspaper suggested Vietnamese companies consider producing organic and convenience products, pointing out European consumers’ increasing preference for healthy diets with clean and natural food, as well as those that serve their busy lifestyles.

To make use of this trend, they should ensure that product quality meets requirements, the article said.

It also noted that more attention needs to be paid to sustainable and responsible production and business practices, adding that products will be accepted by Northern European consumers if they comply with sustainability standards.

Brand building and product storytelling are also tools necessary for marketing new products, particularly those for niche markets, according to the paper./.

Vietnam lures 5.46 billion USD in foreign investment

As much as 5.46 billion USD worth of foreign direct investment (FDI) was injected into Vietnam as of February 20, equivalent to 84.4 percent of the figure recorded in the same time last year, according to the Ministry of Planning and Investment.

As many as 126 foreign projects were granted investment licences with total registered capital of 3.31 billion USD, a year-on-year fall of 33.9 percent.

Meanwhile, 115 existing projects adjusted their investment capital with a total additional sum of 1.61 billion USD, or 2.5 times higher than the same time last year.

Capital contributions and shares purchases by foreign investors stood at 543.1 million USD, down 34.4 percent.

Japan topped the list of 46 countries and territories landing investment in Vietnam, with 1.64 billion USD, equivalent to nearly 30 percent of the total. Singapore came second with 1.07 billion USD, and the Republic of Korea third with 1.05 billion USD.

The ministry said the southern province of Can Tho lured the lion’s share of FDI with 1.31 billion USD, accounting for 24.2 percent of the total. Hai Phong city was the runner-up since it attracted nearly 918 million USD, or 16.8 percent. Bac Giang came third with nearly 573 million USD (10.5 percent)./.

An Giang boasts strengths in hi-tech agricultural development: Deputy PM

The Mekong Delta province of An Giang boasts strengths in economic development, especially high tech agriculture, Deputy Prime Minister Truong Hoa Binh said while attending a ground-breaking ceremony for a high tech dairy farm project of TH Group in Tri Ton district of the province on February 27.

The dairy cow farming model of TH Group, the largest scale in the region, is expected to become an exemplary model to be multiplied, he said.

The farm is hoped to help fulfil the target of having 500,000 milch cows across the country five years ahead of the deadline set in the master plan on agricultural development to 2020, vision to 2030, he noted.

Spanning 178.4 ha across Tri Ton district’s Vinh Gia and Vinh Phuoc communes, the project is carried out with an investment of nearly 2.66 trillion VND (115.2 million USD), making it the largest closed-loop system dairy project in Mekong Delta.

It includes a fresh milk factory capable of producing 135 tonnes daily.

On the same day, Deputy PM Binh paid a visit to a hi-tech hog farming project of the Truong Hai Auto Corporation (THACO)’s agricultural arm in Tinh Bien district.

The 50-ha project has been basically completed after nine months of construction. Its first phase will become operational by June while the construction of the second one is set to begin later this year, raising its capacity to 11,200 pigs in total.

On the occasion, a New Year tree-planting festival was held in the province in response to a campaign to grow 1 billion green trees between 2021 and 2025 launched by the Prime Minister./.

Deputy PM asks Thai Binh to facilitate Lien Ha Thai IP development

Deputy Prime Minister Trinh Dinh Dung has asked the northern province of Thai Binh and investors to create favourable conditions to draw projects to the Lien Ha Thai industrial park (GREEN iP-1).

During a conference announcing the Prime Minister and the provincial People’s Committee’s Decisions on the GREEN iP-1 on February 27, the Deputy PM instructed Thai Binh authorities and the IP investor to complete procedures in line with the law, including those regarding site clearance, compensation for resettlement, and social housing for workers.

He suggested Thai Binh review its economic structure with a view to adjusting it based on its strength as a coastal province and market demand at home and abroad, select priority projects regarding transportation, urban and rural infrastructure while stepping up administrative reform and creating a pro-business environment.

Deputy Prime Minister Trinh Dinh Dung hands over the PM’s Decision on GREEN iP-1 development (Photo: VNA)

Invested by Green i-Park JSC, the GREEN iP-1 is located in Thuy Lien commune and Diem Dien township of Thai Thuy district. It has a total investment of over 3.88 trillion VND (168.3 million USD).

Once operational, the 50-year project is expected to contribute to the development of the nation as well as Thai Binh and the Red River in particular.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes

The malware infection rate in Viet Nam has decreased but still remained high compared to other countries in the world. — Photo quantrimang.com

The campaign aims to reduce the malicious code infection rate by 50 per cent. It also aims to cut the number of Vietnamese IP addresses in 10 popular botnets – a collection of internet-connected devices infected by malware that allow hackers to control them – in half.

It would also take Việt Nam out of reports on malware infection rates.

The National Digital Transformation Programme, approved by Prime Minister Nguyễn Xuân Phúc in early June 2020, says ensuring network safety and security is key to digital transformation. All IT equipment, products, software, information systems and investment projects have mandatory components on network safety and security.

The ministry has clarified cyber safety and security a prerequisite for e-government development and digital transformation.

However, according to security firms, malware infection in Việt Nam has decreased but still remained high compared to other countries. Statistics showed that Việt Nam has about 16 million IPv4 addresses, of which about three million IP addresses are regularly blacklisted by many international organisations, while two million IP addresses are regularly found in botnets.

The campaign will allow people to use malware prevention software for free via https://khonggianmang.vn.

A representative from the ministry’s Department of Information Security said the campaign is for businesses and home network systems and equipment. The group accounts for the majority of the IP addresses.

The campaign would also contribute to improving the country’s reliability in e-transactions, thus promoting socio-economic development and contribute to ensuring national defence and security.

The department would co-operate with VNPT, Viettel, CMC, FPT, BKAV and Kaspersky to implement the campaign.

The campaign would assess 10 major botnets that need to be treated with priority, build and deploy tools on a large scale, whereby users get free downloads to inspect and remove malicious code from their computers.

“After the campaign, we will evaluate results and plan to implement future campaigns,” the department said.

The campaign has been implemented in all provinces and cities from the local to the central level, through specialised IT units of ministries, branches and localities, State groups and corporations, commercial banks and financial institutions.

In addition, it has also received support from organisations, corporations and major security firms such as Kaspersky, Group-IB, FireEye, F-Secure and ESET.

The campaign has been implemented gradually. The ministry hopes it will achieve positive results, contributing to clean malware from Việt Nam’s cyberspace. This will help ensure safety for transactions of agencies and enterprises, as Việt Nam is accelerating digital transformation towards the development of digital government, digital economy and digital society, it added. — VNS

In August this year, the Department of Information Security recorded 517 cyber attacks on information systems in Việt Nam (199 phishing cases, 160 deface attacks and 158 malware attacks), falling 0.77 per cent over the previous month. The number of Vietnamese IP addresses in botnet networks is over 2 million, a decrease of 0.03 per cent compared to July. The number of recorded cyber attacks, warnings and the number of botnet IP addresses showed a slight decrease in the last three months.

The decrease was due to the department continuing to strengthen the recording, warnings and instructions on information security.

However, cyber attackers have still taken advantage of concerns about the pandemic to increase the spread of malicious code. The number of IP botnets compared to the same period last year was still at a high level.

To ensure network security, the department would strengthen monitoring and active scanning on Viet Nam’s cyberspace. VNS

Vietnam saw no new COVID-19 case over the past 12 hours to 6am February 28, making the national tally unchanged at 2,432, according to the National Steering Committee for COVID-19 Prevention and Control.

Among the total, 1,530 were locally infected, including 837 cases since January 27.

A total 1,844 COVID-19 patients have recovered so far, and the death toll remains at 35.

Among those still under treatment, 32 have tested negative for SARS-CoV-2 once, 50 twice and 100 thrice.

By February 27 afternoon, 10 provinces and cities had gone through 14 consecutive days without new locally-infected cases of COVID-19.

As many as 63,054 people who had close contact with confirmed patients or returned from pandemic-hit regions are being quarantine across the country./.

First Vietnam medical achievement award calls 16 winners

The Voice of Ho Chi Minh City (VOH), the local official radio broadcasting station, together with the municipal Health Department hosted the first Vietnam medical achievement award ceremony on February 26 to honour 16 contributions to the community’s wellbeing in 2020 from across the nation.

The contributions were voted by the public from 22 nominations selected by the award’s council of professionals. Three months after its launch, the award received more than 60 nominations from medical facilities nationwide.

Among the winners were the work of doctors at the Cu Chi COVID-19 treatment hospital – the first of its kind in Vietnam, and medical staff at the HCM City Centre for Diseases Control. Since the pandemic begin in the country, hundreds of medical workers in Ho Chi Minh City have taken turns to be at the hospital, while preventive medicine workers at the centre have worked day and night on contact-tracing and testing sample collection.

Another was the operation that separated 16-month-old conjoined twins – Truc Nhi and Dieu Nhi, with the sisters now able to walk on their own. The surgery was performed by 93 doctors and nurses.

VOH Director Le Cong Dong said the award is now an annual event in celebration of Vietnamese Doctors’ Day (February 27).

Duong Anh Duc, Vice Chairman of the municipal People’s Committee, hoped the award will encourage more contributions to the health of the community to be made in the future./.

Sapa – Safe destination during epidemic

Sapa has always been among the most popular destinations for tourists during the Lunar New Year (Tet) holiday, and despite COVID-19 still raging around the world, the northern hill town again greeted a large number of visitors this time around.

Lao Cai province in general and Sapa in particular are considered safe, with zero cases of community transmission of the coronavirus. As a key tourism destination in the province, Sapa quickly adopted COVID-19 prevention measures at the beginning of the outbreak. Thanks to this, it was still able to welcome a huge number of visitors during the recent Lunar New Year holiday, with 60% of accommodation providers and restaurants open for business.

Every hotel and restaurant in town has carried out sanitation processes and strictly followed safety measures to protect visitors.

With mesmerising natural landscapes along with appropriate measures being carried out by local authorities, Sapa was one of the most popular and safest destinations in the country during the recent holiday./.

Aid offered for development of homegrown COVID-19 vaccine

The Ministry of Health (MoH) on February 27 received 20 billion VND (866,620 USD) from conglomerate Vingroup for the clinical trials of homegrown COVID-19 vaccine COVIVAC.

The candidate vaccine is being developed by the MoH’s Institute of Vaccines and Medical Biologicals (IVAC).

Speaking at the handover ceremony, Minister of Health Nguyen Thanh Long spoke highly of the support of enterprises, organisations and individuals for Vietnam’s fight against the COVID-19 pandemic.

The first “Made-in-Vietnam” ventilators were produced under the collaboration of the ministry and Vingroup, he noted, adding that the machines have been provided to localities nationwide.

Vietnamese scientists have regarded vaccine development as the key factor to contain the pandemic, and the MoH has spared no efforts in the research for vaccine in order to be able to produce the vaccine as soon as possible.

The COVIVAC vaccine project has been rolled out since May 2020.

Results of pre-clinical trials affirmed its safety and efficiency, and the IVAC has been able to produce three batches of vaccine consisting between 50,000 and 10,000 doses each.

Clinical trials of the vaccines are projected to start this March and complete by October, said IVAC Director Dr Duong Huu Thai.

A dose may cost no higher than 60,000 VND and the vaccine is effective against emerging coronavirus SARS-CoV-2 variants originated from the UK and South Africa, he affirmed.

Meanwhile, the third domestic candidate vaccine VABIOTECH developed by the Company for Vaccine and Biological Production No 1, is also set to enter clinical trials in the coming time./.

Politburo holds meeting with former Party officials

The Politburo and the Party Central Committee’s Secretariat hosted a gathering in Hanoi on February 27 with former members of the 12th Politburo, the Party Central Committee’s Secretariat and Party Central Committee.

Chairing the event, Party General Secretary and State President Nguyen Phu Trong said the Politburo and Secretariat highly value the great contributions that the former officials have made to the Party, people and country during the time they held important positions in central and local agencies.

He highlighted that the country had reaped comprehensive achievements last year. The entire Party, people and army stood united and fulfilled the working programme for the tenure.

After the 13th National Party Congress, the people have demonstrated their trust in the Party’s leadership and the country’s future, despite the impact of the pandemic.

The Party chief wished that the former Party officials will continue to make contributions to the Party, people and nation, and lend their experience in addressing important issues of the country.

Participants expressed their belief that the 13th Politburo, Secretariat and Party Central Committee will lead the country to a higher development level in the near future.

They pledged to continue contributing to the Party’s cause and strengthening solidarity in the Party.

Expressing pride in being a Party member, they vowed to set examples and lead the way in implementing the Party’s policies, mechanism and resolutions to build a prosperous country with democratic, equal and civilized society./.

US pledges to enhance cooperation with Mekong subregion’s countries

The US will bolster support for countries in the Mekong subregion through the Mekong-US partnership, US Principal Deputy Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Atul Keshap said at a recent online seminar to reveal results of a report on transboundary rivers and addressing challenges in Mekong River.

The report was based on outcomes of a virtual Indo-Pacific conference on enhancing management of transboundary rivers hosted by the East-West Centre last October.

Speakers at the event said that the Mekong subregion is facing challenges in security, development and climate change.

Keshap expressed the US’s concerns over impacts of hydropower dams in the Mekong River’s upper reaches on food security, economic development and environmental conditions of countries in lower reaches.

The US highly appreciates Vietnam’s efforts in pushing ASEAN’s cooperation to help the Mekong subregion cope with such challenges, he said.

Congressman Ted Lieu also affirmed that the US Congress wants the US government to further boost cooperation with the Mekong sub-region via the US-Mekong partnership. Since the launch of the Lower Mekong Initiative in 2009, the US has earmarked 3.5 billion USD for countries in Mekong River’s lower reaches.

At the event, Vietnamese Ambassador to the US Ha Kim Ngoc underscored the significance of water security, especially transboundary water resources, to peace and prosperity in the region.

Countries in the Mekong subregion share responsibilities for the use and management of Mekong River’s water resources in a sustainable manner in a bid to offset impacts on development and the environment, he added.

The diplomat affirmed that Vietnam is always a responsible member in joint efforts to cope with challenges in environmental issues, climate change, economic development and security in the Mekong subregion.

He proposed that countries work together to build regulations and legally binding frameworks to manage transboundary rivers.

He also called on the US and other partners to invest in the region in the spheres of energy, infrastructure, climate change adaptation and sustainable development./.

Bars and beer clubs on Bui Vien pedestrian street of HCM City

The municipal People’s Committee has ordered continued closure of dance halls, bars, karaoke parlours, pubs, beer clubs, and facilities for indoor sports activities like gym, fitness, billiards, and yoga centres.

Others not included in this list can be reopened but have to carry out all anti-coronavirus measures regulated by health authorities.

Besides, the set of safety assessment criteria in COVID-19 prevention and control must be seriously implemented in the fields of tourism, transport, and restaurant services, as well as at wholesale and retail markets, supermarkets, trade centres, relic sites, and libraries.

A distance of at least one metre from each other must be kept in those activities, and food service supplying establishments are not permitted to serve more than 30 people at the same time, according to the administration.

Meanwhile, religious activities and rituals at local places of worship can take place with no more than 50 participants at the same time. They also have to comply with other disease prevention measures regulated by the health sector, the People’s Committee said.

Earlier, the committee also permitted schools across the city to be reopened from March 1.

On February 23, the lockdown on an apartment block in Ward 13 of Tan Binh district was lifted. This was the last of the 35 sealed-off sites that had their COVID-19 lockdown removed in HCM City./.

Campaigns to provide 90,000 job opportunities to Vietnamese youngsters

The Ho Chi Minh Communist Youth Union’s Hanoi chapter has cooperated with recruitment platform TopCV.vn  to launch a campaign to provide 90,000 job opportunities to Vietnamese students and youngsters in and outside the country.

Running from March 1 to September 1, the campaign aims to support the youngsters and students to connect with enterprises having recruitment demands, while bringing more employment and internship chances to them, said Deputy Secretary of the chapter Tran Quang Hung.

Hung said that the campaign will assist 5 million young people in Hanoi and Hai Duong and Vietnamese students abroad to seek suitable employment, while helping them design curriculum vitae and necessary job applying skills.

Besides, it will support colleges and universities to link with companies having recruitment demands on TopCV.vn.

A number of online job bazaars will be organised, while a series of online training courses will be held to equip job seekers with skills to apply for employment, added Hung./.

PM asks for timely, transparent COVID-19 vaccine distribution

Prime Minister Nguyen Xuan Phuc has asked the Health Ministry to take responsibility for importing, receiving and distributing COVID-19 vaccines in a timely and transparent manner in line with instructions of the Politburo and Party Central Committee’s Secretariat.

The request was noted in Notice No.31/TB-VPCP dated February 25 along with other instructions that the Government leader made at a meeting of permanent Government members on pandemic prevention work.

The Health Ministry must work with the Foreign Ministry, especially Vietnamese embassies abroad, to access vaccine suppliers.

Vaccination for priority cases must be conducted quickly in accordance with the Government’s Resolution.

The PM also agreed with proposals by a number of localities including Hanoi and Hai Phong on buying vaccines using private financial sources.

Authorities of centrally-run cities and provinces are required to take the initiative in adopting suitable prevention and control measures based on the level of risk in each area, while ensuring smooth flows of goods, production and trade, thus minimizing negative impacts on trade and production and people’s lives.

The PM also demanded the strict enforcement of the 5K principle, especially the wearing of face masks, and pandemic prevention rules at workplaces, factories and trade and public facilities.

Authorities of pandemic-hit localities, especially Hai Duong and Hai Phong, must continue contact tracing, quarantining and testing in order to prevent any outbreak from spreading.

The Transport Ministry was assigned to partner with the Ministry of Industry and Trade (MoIT) and the Health Ministry to issue regulations on ensuring safety in transportation to/from and in pandemic-hit areas, particularly in key economic areas such as Hai Phong, Quang Ninh and Hai Duong.

The MoIT will be responsible for working with the Ministry of Agriculture and Rural Development and the Health Ministry to regulate the procedures for buying farm produce from pandemic-affected areas.

The PM assigned Deputy Prime Minister Pham Binh Minh to direct the repatriation of citizens from abroad and conduct timely quarantine in line with regulations./.

First 35 volunteers receive injections of home-grown COVID-19 vaccine in second-stage trial

The first 35 volunteers received injections of the home-grown Nano Covax in the second phase of human trial at the Military Medical University on February 26.

Developed by the Nanogen Pharmaceutical Biotechnology JSC and the Military Medical University, Nanocovax is Vietnam’s first COVID-19 vaccine to reach the human trial stage.

The 35 volunteers were chosen among about 300 people who registered to participate in the second-stage trial of the vaccine at the University after undergoing rigorous medical examinations. They are divided into three groups for receiving three different doses of 25mcg, 50mcg and 75mcg, and one group with five people getting placebo.

According to a representative from the University, a total 560 volunteers, aged 18-60, including those with several diseases such as hypertension, dyslipidemia and diabetes, among others, will participate in the second-stage trial, which is carried out in Hanoi and the Mekong Delta province of Long An.

Lieutenant-General Do Quyet, Director of the Military Medical University, said since the trial sees the participation of volunteers with underlying health conditions, competent authorities have been prepared for all scenarios and ensure safety for all volunteers.

Results of the trial will be announced in May 2021 before preparing for the third-stage trial during which only one single shot of the vaccine will be administered to 10,000-15,000 people from both domestic and foreign pandemic-hit regions, Quyet added.

Present at the second-stage trial of Nano Covax at Military Medical University, Deputy Prime Minister Vu Duc Dam encouraged the volunteers and the medical workers, while expressing his firm belief in the ability of the Vietnamese scientists in successfully developing COVID-19 vaccines.

The first-stage trial of the Nano Covax vaccine showed that it is likely to be effective against B117 variant from the UK.

Vietnam is one among 40 countries in the world that have started human trials of a COVID-19 vaccine, after successfully producing coronavirus test kits early into the pandemic.

The country also has several other COVID-19 candidate vaccines being developed, which are IVAC by the Institute of Vaccines and Medical Biologicals, VABIOTECH by the Company for Vaccine and Biological Production No 1, and POLYVAC by the Centre for Research and Production of Vaccines and Biologicals./.

First Hanoi market to be installed with solar panels

The government of Hanoi has approved a pilot project to install rooftop solar power panels for the iconic Dong Xuan Market in Hoan Kiem District, making it the first wet market in the capital city to be equipped with the solar power system, aimed at saving energy and reducing carbon dioxide emissions.

The market will be installed with 600 solar panels, which account for 18% of total area of the market’s roof. The system will generate 198 kWp of electricity.

The project is funded by the German non-profit limited company Engagement Global’s Servicestelle Kommunen in der Einen Welt (SKEW) through the following activities: enhancing the qualification and skills of employees of the district, which is in charge of operating and managing the pilot project using renewable energy; protecting the environment, saving energy, and using clean energy.

The project requires over 274,000 euros (US$333,000) in investment, with over 246,000 euros being provided by the German firm and the remaining amount being mobilized from legal sources by the district’s government. The project would be implemented from the date it was approved by the authorities to November 30, 2022.

After the pilot project is completed and proves effective, Hanoi will scale up the project to other places in the district.

Further, the government of Hanoi tasked the departments of Science and Technology, Industry and Trade, Natural Resources and Environment, Police and the Hanoi Power Corporation with instructing the project’s investor to conduct investment procedures, electricity connection, measuring and pricing activities in line with the prime minister’s decision on encouraging the development of solar power in Vietnam.

Trial on violations at Phu Tho ethanol plant to open on March 8

The Hanoi People’s Court will open a 10-day trial on March 8 to hear a case of violations of regulations on investment in construction works, causing serious consequences, at an ethanol plant in the northern province of Phu Tho.

The 12 defendants include former Chairman of the Board of Directors of the Vietnam National Oil and Gas Group (PetroVietnam) Dinh La Thang, former Chairman of the Board of Directors and former General Director of the PetroVietnam Construction JSC (PVC) Trinh Xuan Thanh, former General Director of the PetroVietnam PetroChemicals and Biofuel JSC (PVB) Vu Thanh Ha, former General Deputy Director of PetroVietnam Tran Thi Binh, former General Director of PVC Pham Xuan Dieu, former Deputy General Director of PVC Nguyen Ngoc Dung, former head of PVC’s economic and planning board Do Van Quang, former deputy head of PVB’s investment office Nguyen Xuan Thuy, former deputy head of PVB’s commercial office Khuong Anh Tuan, former head of PVB’s business office Le Thanh Thai, former chief accountant at PVB Hoang Dinh Tam, and Chairman of the Board of Directors and General Director of the Kinh Bac Petroleum Construction and Investment JSC Do Van Hong.

Trinh Xuan Thanh has been charged with “violating regulations on investment in construction works, causing serious consequences”, under Article 224, Clause 3 of the Criminal Code 2015, and “abusing position and power while performing duties” under Article 356, Clause 3.

Do Van Hong has been charged with “abusing position and power while performing duties”.

The 10  remaining defendants are facing charges of “violating regulations on investment in construction works, causing serious consequences”.

According to the indictment, Thang signed a resolution to approve the investment in the project in October 2007. With Thanh’s support, PVC/Alfa Laval/Delta-T joint contractors, who had no previous experience in carrying out ethanol projects, were assigned to be in charge of the project.

As a result, the project was continuously lagged behind schedule and stopped in March 2013 with no construction items done.

Wrongdoings of the defendants were said to cause a loss of more than 543 billion VND (23.49 million USD) for PVB./.

Vinh Phuc moves towards sustainable population development

The northern province of Vinh Phuc plans to have its entire population managed by the national population database system.

Under the province’s population strategy in the 2021-2025 period, it will provide health insurance and offer medical examinations and treatment to all elderly people at home and in healthcare facilities.

Vinh Phuc aims to maintain a reasonable age structure, with the ratio of children under 15 years old to be 23.5 percent and people aged 65 and over to be 9 percent.

It will bring the fertility rate closer to the replacement fertility level, increase the rate of women of reproductive age having convenient access to modern contraception and support in reproductive health to 95 percent, and halve the number of unwanted pregnancies.

The province aims to have 70 percent of young men and women obtaining health advice and check-ups before marriage, 50 percent of pregnant women being screened for at least four of the most common birth defects, and 70 percent of new-born babies being screened for at least the five most common congenital diseases.

It expects to see life expectancy of 75 years, while the urban population rate is to stand at 50 percent of the total.

The province is working to fully tap into its “golden population structure”, adapt to population aging, and improve quality of the population, thus contributing to its socio-economic development.

To reach these targets, provincial authorities will focus on improving mechanisms, policies, and laws on population, and bolstering the quality of population-related services.

It also has policies to encourage organisations, businesses, individuals, and production and distribution establishments to provide population-related services./.

Investors confident in Vietnam’s innovative startup ecosystem

Investors are confident in the potential of Vietnam’s innovative startup ecosystem, and believe the country will become a big investment market in the region and the world, according to head of the Vietnam representative office of Genesia Ventures, an investment fund of Japan, Hoang Thi Kim Dung.

According to a report published by Do Ventures – a venture capital fund that focuses on making investments in tech startups in Vietnam and Southeast Asia – in 2020, Vietnam’s innovative startup ecosystem ranked third in Southeast Asia, after Singapore and Indonesia.

Vietnam’s national innovation startup ecosystem is likely to earn a berth in the top 15 emerging ones in the Asia-Pacific region by 2030, the report said.

The Prime Minister in 2016 approved a project to support the national innovative startup ecosystem through 2025 under Decision No. 844/ QD-TTg (Project 844), which was designed to promote and support the formation and development of startup projects or startup enterprises and urgently complete the legal system to support innovative startups.

To further promote the development of Vietnam’s innovative startup ecosystem in an intensive manner, recently the PM has approved the amending and supplementing of a number of articles in Decision No 844/QD-TTg.

Vietnam hopes to establish international cooperation programmes with partners in at least five prestigious innovative startup ecosystems in the world by 2025, and attract more foreign resources to support domestic innovation startups.

According to statistics from the Project 844’s office, there are nearly 100 venture capital funds in Vietnam, including about 20 domestic funds. Each investment fund has different networks and strengths, so startups need to thoroughly research and group potential investors in accordance with their development orientation and goals./.

Vietnamese airlines gear up to transport COVID-19 vaccine

National flag carrier Vietnam Airlines and Bamboo Airways have said they are well prepared for the transport of COVID-19 vaccines for local pandemic prevention.

Bamboo Airways have put necessary resources in place for a couple of months, including the best possible means of transport, standardised vaccine storage, and effective arrangement of human resources.

A representative from the carrier said that wide-body aircraft Boeing 787-9 Dreamliner will be deployed for the mission, while staff with considerable experience will serve on the flights carrying COVID-19 vaccines.

Rehearsal was held regularly to ensure smooth transport of the vaccines, the representative said, adding logistics services, warehouses and refrigerated containers are ready for the mission as well.

Bamboo Airways also has experience in transporting critical goods to Northeast Asia, Europe, the Middle East and Australia. The carrier has receive good response from its customers and logistics firms.

In the meantime, Vietnam Airlines has proposed it be officially permitted by authorised health agencies to transport COVID-19 vaccines from overseas.

The carrier said it has prepared all necessary resources to meet the strictest requirements on vaccine transportation by air. It has sufficient logistics services, modern cold storage systems, and trained human resources that meet international standards.

It is ready to introduce refrigerated container services for carrying vaccines, as poor preservation can affect quality and efficiency.

The carrier will also set up a specialised unit to perform these tasks.

Vietnam Airlines also has experience in transporting medical supplies, such as medicine and surgical instruments, as wells organs for transplant, even in time-sensitive emergencies.

It can deploy a fleet of wide-body aircraft such as Airbus A350s and Boeing 787s to transport large quantities of vaccines.

Transporting COVID-19 vaccine is seen as a century mission of the global aviation sector.

In Vietnam, ensuring sufficient COVID-19 vaccine supply in 2021 is a priority of the Ministry of Health and competent ministries and sector.

The Ministry of Health said it is working to secure 90 million COVID-19 doses this year, and to implement the biggest vaccination drive in Vietnam’s history./.

Australian-funded course helps improve social work for abused women, children amid COVID-19

More than 30 consultants and social workers, on February 26, began a three-day Australian-funded course that helps them improve their work toward abused women and children during the current time of pandemic.

Sponsored by the Australian Government, the course is co-organised by the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) and Vietnam’s Centre for Women and Development (CWD) as part of a project on emergency response to violence against women and children amid COVID-19.

Participants are currently working at the CWD in Ho Chi Minh City and Da Nang, as well as hospitals and social centres in the two cities.

During the training session, they will be provided with knowledge and skills to identify symptoms of stress and types of psychological trauma as well as practice some first aid and psychological care methods.

Statistics showed that, in the context of the pandemic, the rate of violence against women and children in Vietnam and in the world has increased by between 30 and 300 percent.

Nguyen Thi Thu Hoai, a social worker at CWD, said amid surging number of calls to a CWD hotline for abused women and children in conjunction with the pandemic happening, knowledge from the course will help her better approach and support the victims to soon ease their trauma./.

Vice President presents title of “People’s Doctor” to five doctors

A ceremony was held in Hanoi on February 26 to present the title of “People’s Doctor” to five lecturers of the Hanoi Medical University on the occasion of the Vietnamese Doctors’ Day (February 27).

Vice President Dang Thi Ngoc Thinh presented the title of “People’s Doctor” to Associate Prof. Dr. Tran Huu Binh; Associate Prof, Dr. Doan Quoc Hung; Associate Prof. Dr. Nguyen Quang Tuan; Associate Prof. Dr. Nguyen Huu Uoc, and Associate Prof. Dr. Nguyen Kim Viet. They are former and incumbent leaders of important faculties and institutes of different central hospitals.

Associate Prof. Dr. Doan Quoc Hung, Vice Principal of the Hanoi Medical University, said that he is proud of his contributions to the health sector and the caring for people’s health and the community as a doctor and a teacher.

Authorities of Saint Petersburg city updated with result of 13th National Party Congress

The Party Central Committee’s Commission for External Relations held a teleconference on February 25 to inform authorities of Saint Petersburg city and several agencies in Russia about the results of the 13th National Party Congress.

Speaking at the event, head of the commission Hoang Binh Quan briefed the participants on the freshly-concluded congress’s main outcomes, including the review of the implementation of the 12th congress’ Resolution, achievements during 35-year reform and 30-year implementation of the Platform on national development.

He also shared vision, goals, development orientations, tasks and measures decided by the 13th National Party Congress and personnel work.

About external policy for the tenure of the Congress, he affirmed that Vietnam continues the consistent external policy of independence, self-reliance, multilateralisation and diversification of external relations, active and proactive global integration, while maintaining an environment of peace and stability, and further improve Vietnam’s position and prestige on international arena.

The Vietnamese Party and State consistently treasure traditional ties and comprehensive strategic partnership with Russia, he said.

Participants said documents at the Congress reflect the strong will of the Vietnamese Party and people for a country of prosperity and well-being for citizens. They also highly valued Vietnam’s achievements in the cause of national construction and development.

Vice Governor of Saint Petersburg N.Bondarenko vowed to work with Vietnam to improve the efficiency of bilateral cooperation, step up practical projects in the fields of economy, trade, investment, tourism and people-to-people exchange, especially among the young generation.

Both sides also discussed orientations and several specific cooperation plans in the near future./.

Da Nang working to preserve, develop Cham relics

Leaders in the central city of Da Nang recently handed over a certificate to authorities in Hoa Tho Dong ward in Cam Le district recognising the Cham Phong Le archaeological site as a city-level relic, in an effort to improve the management and preservation of the site.

Vice Chairman of the municipal People’s Committee Le Quang Nam said the city is now home to two national special, 17 national, and 60 city-level relics.

Of these, only Cham Phong Le is named an archaeological relic, demonstrating its importance and exceptional values.

Excavations and studies reveal it is a large-scale architectural construction and part of the Cham tower system in the central region. The lives of Cham people in Amaravati land, as they called the area around Da Nang, between the 10th and 12th centuries are reflected through unearthed exhibits.

Nam took the occasion to request that Cam Le district leaders, people, and relevant agencies work together in the conservation and development of the relics.

The site was discovered by local residents in April 2011. The foundations of a brick construction and other elements were then found during an excavation by the Da Nang Museum of Cham Sculpture.

After three excavations on nearly 790 sq m, the entire scale and basic structure of a large Cham tower was exposed.

It is believed to be have been built by the Cham in early 10th century and remained a place of worship until the 12th century at least.

The Champa Kingdom, from where the Cham ethnic minority people originated, ruled what is today Vietnam’s central coastal region between the 4th and 13th centuries.

They built a range of distinctive towers across the kingdom. Some still stand today, such as Po Nagar in Nha Trang, Khanh Hoa province, Po Klong Garai and Po Rome in Ninh Thuan province, Nhan tower in Phu Yen province, and, especially, the 21 towers at the UNESCO-recognised My Son Sanctuary in Quang Nam province./.

Vice President presents title of “People’s Doctor” to five doctors

A ceremony was held in Hanoi on February 26 to present the title of “People’s Doctor” to five lecturers of the Hanoi Medical University on the occasion of the Vietnamese Doctors’ Day (February 27).

Vice President Dang Thi Ngoc Thinh presented the title of “People’s Doctor” to Associate Prof. Dr. Tran Huu Binh; Associate Prof, Dr. Doan Quoc Hung; Associate Prof. Dr. Nguyen Quang Tuan; Associate Prof. Dr. Nguyen Huu Uoc, and Associate Prof. Dr. Nguyen Kim Viet. They are former and incumbent leaders of important faculties and institutes of different central hospitals.

Associate Prof. Dr. Doan Quoc Hung, Vice Principal of the Hanoi Medical University, said that he is proud of his contributions to the health sector and the caring for people’s health and the community as a doctor and a teacher.

Australian-funded course helps improve social work for abused women, children amid COVID-19

More than 30 consultants and social workers, on February 26, began a three-day Australian-funded course that helps them improve their work toward abused women and children during the current time of pandemic.

Sponsored by the Australian Government, the course is co-organised by the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) and Vietnam’s Centre for Women and Development (CWD) as part of a project on emergency response to violence against women and children amid COVID-19.

Participants are currently working at the CWD in Ho Chi Minh City and Da Nang, as well as hospitals and social centres in the two cities.

During the training session, they will be provided with knowledge and skills to identify symptoms of stress and types of psychological trauma as well as practice some first aid and psychological care methods.

Statistics showed that, in the context of the pandemic, the rate of violence against women and children in Vietnam and in the world has increased by between 30 and 300 percent.

Nguyen Thi Thu Hoai, a social worker at CWD, said amid surging number of calls to a CWD hotline for abused women and children in conjunction with the pandemic happening, knowledge from the course will help her better approach and support the victims to soon ease their trauma./.

GEF-funded project proves effective

The “Energy Efficiency Improvement in Commercial and High-Rise Residential Buildings in Vietnam” (EECB) project is expected to complete some of its commitments in 2021.

Funded by the Global Environment Facility (GEF) through the UN Development Programme (UNDP), the project’s goals are to reduce the intensity of greenhouse gas emissions from Vietnam’s building sector and to improve energy utilisation at commercial and high-rise residential buildings in HCM City and Hanoi.

Completion will be achieved through the implementation of the three following components: improved enforcement of energy efficiency building codes, building market development support initiatives, and building EE technology applications and replications.

Each component comprises a number of complementary activities designed to remove barriers to the stringent enforcement of the revised EEBC, and for the greater uptake of energy-efficient technologies, systems, and practices in commercial and residential buildings.

Vu Ngoc Anh, Director of the Science and Technology and Environment Department at the Ministry of Construction, who is also EECB director, said the project will complete mechanisms recognising energy consumption and announcing information on energy consumption, along with documents guiding the design, construction, and assessment of energy-efficient projects.

It has already studied energy consumption at 250 projects and recognised energy-efficient facilities. Many training courses within its framework have been organised nationwide.

The project fulfilled 11 of 14 set targets, including major targets like providing consultation for the national target programme on the economical and efficient use of energy, and contributing opinions on the Law on Construction.

The project is supporting the Ministry of Construction in amending a decree on the management of projects and their quality, and other documents.

UNDP Deputy Resident Representative in Vietnam Sitara Syed said relevant parties have made great efforts over recent times. But, she added, they need to further their close coordination and flexibly adopt different solutions to optimise results brought about by the project./.

Ca Mau: Nam Can crab, U Minh Hot Pot named among Vietnam’s Top 100 specialties

A species of crab in Nam Can district and a fish sauce hot pot in the U Minh Forest in the southernmost province of Ca Mau have been listed among the Top 100 specialties in Vietnam in 2020-2021 by the Vietnam Record Organisation (Vietkings).

Ca Mau dried shrimp and U Minh honey, meanwhile, are in the Top 100 Vietnamese specialty gifts.

The specialties will be granted certificates at an event on April 24 in Ho Chi Minh City.

Over the past 10 years, Vietkings has sought and promoted Vietnamese cuisine, contributing to elevating the Vietnamese catering and tourism industries./.

VFF Central Committee gives guidance on introducing candidates for upcoming elections

The Vietnam Fatherland Front (VFF) Central Committee’s Standing Board has issued a guiding document on the organisation of negotiations to introduce candidates for election to the 15th National Assembly (NA) and People’s Councils at all levels in the 2021-2026 tenure and election campaigns in localities hit by COVID-19.

Localities are instructed to hold the elections flexibly in accordance with the situation on the ground, ensuring the strict implementation of COVID-19 prevention and control measures.

Along with direct meetings, localities can choose other formats to collect voters’ opinions, such as online conferences or via email, SMS, mobile apps such as Zalo and Viber, and the post.

Earlier, on February 20 in Hanoi, Vice President and General Secretary of the VFF Central Committee Hau A Lenh and Vice President of the VFF Central Committee Nguyen Huu Dung co-chaired a meeting on guiding procedures to introduce candidates from central agencies, organisations, and units.

In the final step, an expanded meeting of leaders of the agency, organisation, or unit will be convened to discuss and make a final decision on the candidates to be introduced.

Candidates must complete documents for nomination by 5pm on March 14.

Addressing the meeting, Lenh said that from March 18, the VFF Central Committee Presidium will organise the second round of negotiations to discuss and make a list of candidates running for a seat at the 15th legislature.

The elections of deputies to the 15th NA and People’s Councils at all levels will take place in May./.

Nearly 300 volunteers in Long An engage in second-stage trials of Nano Covax

Nearly 300 volunteers in the Mekong Delta province of Long An are set to receive injections of Nano Covax in the second-stage human clinical trials of the COVID-19 vaccine candidate from Vietnam.

The Ministry of Health began the second phase of human trials at the healthcare centre of Ben Luc district on February 26.

The volunteers, chosen from more than 800 people who registered to take part, consist of two age groups: from 18 to 60 and over 60.

They will receive two doses of either the vaccine or the placebo AIPO4, with an interval of 28 days. Each volunteer will be monitored for 12 months after the first dose.

Volunteers receiving jabs on the morning of February 26 will receive the second dose in late March.

The research outcomes of these second-phase trials will be available in late April.

The second stage human trials of Nano Covax are also underway in Hanoi.

Developed by the Nanogen Pharmaceutical Biotechnology JSC and the Hanoi-based Military Medical University, Nano Covax is Vietnam’s first COVID-19 vaccine to reach the human trial stage.

According to a representative from the university, a total of 560 volunteers, including those with other ailments such as hypertension or diabetes, among others, will participate in the second-stage trials in both localities.

Lieutenant-General Do Quyet, Director of the Military Medical University, said that since the trial is seeing the participation of volunteers with underlying health conditions, relevant authorities are prepared for all possible scenarios and will ensure the safety of all volunteers.

The first-stage trial of the Nano Covax vaccine showed that it is likely to be effective against the B117 variant from the UK.

Vietnam is one of 40 countries and territories in the world to have begun human trials of a COVID-19 vaccine, after successfully producing coronavirus test kits early in the pandemic.

The country also has other COVID-19 candidate vaccines being developed: IVAC from the Institute of Vaccines and Medical Biologicals, VABIOTECH from the Company for Vaccine and Biological Production No 1, and POLYVAC from the Centre for Research and Production of Vaccines and Biologicals./.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes

HÀ NỘI — After buying Duy Tân Plastic Corporation, Thailand’s Siam Cement Group (SCG) is cementing its domination of Việt Nam’s plastic production industry.

Under the contract signed on February 9 via a virtual conference, Duy Tân will sell 70 per cent of its shares in five of total twenty-two subsidiary companies, including Duy Tân Plastic Manufacturing Corporation and Duy Tân Long An Corporation, to SCG’s SCG Packaging, Duy Tân said.

Duy Tân Plastic is a leading company in the plastic goods market in Việt Nam with revenue of VNĐ4.7 trillion in 2020. It has nearly 1,000 commodities units and 16,000 distribution agents across the country. The company’s annual capacity reaches 116,000 tonnes of hard plastic packaging and plastic goods.

SCG, Thailand’s largest cement producer, will buy the stakes over three years, starting from 2021. The deal takes a long time as it is based on business results, Duy Tân Plastic said.

Through the deal, SCG and Duy Tân Plastic want to create a solid foundation for a completed supply chain.

Duy Tân Plastic aims at developing hard plastic packaging products, plastic goods and expanding export markets, while the investments help SCG Packaging broaden its hard plastic packaging businesses in ASEAN, especially strengthen capacity to serve FMCG producers and consumers in Việt Nam.

The deal is a part of SCG’s investment plan worth 10 billion baht (US$334 million) to extend its businesses in Việt Nam that has big and growing demands in plastic packaging products.

Wichan Jitpukdee, CEO of SCG Packaging, said that the company will keep investing in Việt Nam, resulting in revenue growth of over 10 per cent each year.

Dominating Việt Nam’s plastic production industry

The plastic production industry in Việt Nam has around 3,300 enterprises with total value of approximately US$18 billion.

The upstream sector of this industry includes petrochemical refineries and chemical enterprises whose main activities are to convert fossil materials into raw plastic beads.

Meanwhile the downstream sector is turning raw plastic beads into plastic products. The downstream can be divided into four main segments, including plastic packaging products, plastic building materials, plastic goods and engineering plastics.

With the deal for Duy Tân Plastic’s shares, SCG is dominating Việt Nam’s plastic industry, especially in plastic packaging products and plastic building materials. These two segments account around 61 per cent of the total market value.

In 2019, SCG Packaging founded Vina Kraft Paper in Bình Dương Province to produce paper packaging products with total capacity of 500,000 tonnes/year.

The company continued to invest in Tín Thành Packing JSC (BATICO) in 2015. And recently SGC bought 94 per cent of Biên Hòa Packaging JSC’s stakes, with the deal worth of VNĐ2.07 billion (US$89 million).

SCG also owns stakes in many plastic companies including Bình Minh Plastics JSC, Vietnam Construction Materials JSC, Prime Group, Viet Thai Plastchem Joint Venture Company Ltd, TPC Vina Plastic and Chemical Corporation Ltd, Việt Nam Chemtech Company Ltd and Minh Thai Plastic Material Company Ltd.

In 2018 June, SCG signed a contract to buy 29 per cent of Việt Nam Oil and Gas Group (PetroVietnam)’s shares in Long Son Petrochemical Complex Project, raising its equity from 71 per cent to 100 per cent with total investment value of 8.5 billion baht per year. — VNS