Shrimp processing line for export at the factory of Minh Phú Seafood Corporation. — VNA/VNS Photo

Việt Nam’s shrimp exports in October reached US$394 million, a strong 24 per cent increase year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

In the first ten months of the year, total shrimp export turnover reached $3.2 billion, recording a 13 per cent growth year-on-year.

All major markets achieved double-digit growth in October, signalling a strong recovery in demand.

Notably, shrimp exports to mainland China and China's Hong Kong in October reached $91 million, up 44 per cent year-on-year.

Over the ten months, turnover totalled $676 million, a growth of 31 per cent.

Lobster exports surged by an extraordinary 157 per cent, reaching $298 million. China’s consumer stimulus policies have further driven imports of this product, creating significant opportunities for Vietnamese enterprises.

Similarly, shrimp export turnover to the EU in October rose by 32 per cent, bringing the ten-month total to $408 million, a 17 per cent year-on-year increase. Stable demand from the EU has maintained consistent growth since April.

In the US market, shrimp exports in October exceeded $80 million, a 17 per cent increase.

Year-to-date exports to the US amounted to $646 million, up 10 per cent.

With a decline in supply from the three largest shrimp-producing nations, the US faces a shortage of imported shrimp.

Improved market sentiment, reduced inventories and a gradual imbalance between supply and demand have further driven higher import demand. Prices are expected to rise and with President-elect of the US Donald Trump’s proposed import tax increases, if implemented, prompting US businesses to accelerate imports before the new tariffs take effect.

In the short term, this is expected to boost US shrimp imports demand further.

Shrimp exports to Japan and South Korea also showed significant recovery in October, growing 18 per cent and 28 per cent, respectively, after a period of instability.

Export shrimp prices, especially for white-leg shrimp, are on an upward trend, significantly improving profit margins for businesses.

Additionally, processed shrimp products are experiencing robust growth, highlighting Vietnamese enterprises' focus on high-value-added products.

Data from the first ten months indicate a positive outlook across major markets. Demand from the US and EU remains stable, while China, with its consumption-supporting policies, continues to be a promising destination for Vietnamese shrimp.

With this growth trajectory, shrimp exports in 2024 are likely to reach $4 billion. 

TCBS leads securities sector with 1.7 billion share issuance

Techcom Securities JSC (TCBS) has successfully issued over 1.74 billion shares to existing shareholders at a 1:8 ratio, significantly boosting its charter capital. 

The issuance, fully funded by retained earnings and share premium, utilised over VNĐ9.19 trillion (US$361.7 million) in share premiums and VNĐ8.24 trillion in undistributed profits after tax as of the end of 2023. 

Notably, the newly issued shares have no transfer restrictions, enhancing liquidity for shareholders.

Following the issuance, TCBS's charter capital surged to over VNĐ19.61 trillion, with a total outstanding share count exceeding 1.96 billion. 

This milestone positions TCBS ahead of SSI, though the lead may be short-lived as SSI plans to raise its charter capital to VNĐ19.64 trillion through the sale of 151.1 million shares.

The increase in capital was approved at TCBS’s 2024 Annual General Meeting.

A subsidiary of Techcombank, which holds a 94 per cent stake, TCBS continues to assert its financial dominance.

In the second quarter of 2023, the company issued 105 million shares at VNĐ97,542 per share, raising VNĐ10,242 billion. The entire issuance was acquired by Techcombank, increasing its stake from 88.7 per cent to 94 per cent.

The securities industry in Việt Nam is witnessing an intense race for capital expansion. Leading firms like VNDirect, Saigon - Hanoi Securities, Vietcap and Hồ Chí Minh City Securities Corporation are also raising funds through various means, including rights issues, private placements and stock dividends.

These efforts are driven by rising demand for margin trading and the introduction of Decree 68, effective November, which eliminates the 100 per cent margin deposit requirement for institutional foreign investors.

At the end of the third quarter, TCBS reported outstanding loans of nearly VNĐ25.5 trillion and achieved profit of nearly VNĐ1.1 trillion, the highest in the industry for the quarter. However, this marked a decline compared to both the previous quarter and the same period in 2023. 

Bến Tre speeds up disbursement progress to complete 66 public investment projects

The Mekong Delta province of Bến Tre is expected to have 66 public investment projects completed and put into use in the near future.

According to the provincial authority, the province strives to disburse more than VNĐ1trillon (US$39.3 million) in public investment capital to complete the target of disbursing 95 per cent of public investment capital in 2024.

It is expected that by 2024, the province will have 66 projects completed, accepted and put into use, contributing to enhancing the capacity of industries and fields and promoting local socio-economic development.

Vice Chairman of Bến Tre Provincial People's Committee Nguyễn Trúc Sơn said that the locality is making maximum efforts to achieve this target, especially for key infrastructure construction projects.

The province will continue to transfer capital between projects, in which priority will be given to projects with good progress and urgent needs.

Director of the Bến Tre Department of Planning and Investment Dương Văn Phúc said that the total planned investment capital from the state budget managed by the province in 2024 is VNĐ5 trillion ($196.9 million), of which, total development investment capital managed by the locality under the state budget in 2024 assigned by the Provincial People's Council is VNĐ4.2 trillion.

To date, the province has disbursed over VNĐ3 trillion of planned public investment capital (including extended capital), reaching 64.1 per cent of the 2024 capital plan.

To speed up disbursement progress, Chairman of Bến Tre Provincial People's Committee Trần Ngọc Tam requested all levels and sectors focus on this task.

Particularly for units with low public investment disbursement, it is necessary to be more drastic, striving to achieve a disbursement rate of 95 per cent or more according to the direction of the Prime Minister.

The provincial People's Committee assigned the Department of Planning and Investment to closely keep track the progress of disbursement of public investment capital and advise on the effective use of allocated public investment capital.

At the same time, the Department of Planning and Investment coordinates with the Department of Finance and the Treasury to inspect and urge budget-using units to complete the settlement and finalisation of programmes, projects, and capital plans for 2024. 

Market rebounds as liquidity improves

The stock market staged a recovery on Wednesday, with the VN-Index ending a four-session losing streak, despite continued heavy net selling by foreign investors.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 11.39 points, or 0.95 per cent, to close at 1,216.54 points.

Market breadth was positive, with 219 stocks advancing while 95 declined. Liquidity improved significantly, reaching VNĐ17.8 trillion (approximately US$700 million), up 34.8 per cent from the previous session.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, also advanced by 12.65 points, or one per cent, to 1,271.73 points. Among VN30 stocks, 24 gained, two declined and four remained unchanged.

Leading the gains was Vinhomes JSC (VHM), whose shares rose by 2.61 per cent, contributing nearly 1.2 points to the VN-Index's recovery.

Other notable gainers included the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), up 1.95 per cent, FPT Corporation (FPT), which rose 1.85 per cent, and Vietnam Technological and Commercial Joint Stock Bank (TCB), climbing 2.01 per cent.

Meanwhile, certain sectors faced declines, with stocks like Mobile World Investment Corporation (MWG) and PetroVietnam Gas Joint Stock Corporation (GAS) exerting slight downward pressure on the market.

Analysts from Việt Dragon Securities observed: “The market rebounded strongly after halting its downward trend in the previous session, closing above the 200-day moving average (MA200) at the 1,216-point level. Increased liquidity indicates active efforts by cash flows to support the market while supply-side pressure remains limited.”

The analysts added: “Breaking above the MA200 has reversed market sentiment, however, the 1,220-point range may present short-term resistance. The market is likely to experience consolidation in the 1,215–1,225-point range in the coming sessions. If sustained support is observed, the VN-Index may aim to return to the 1,230-point region.”

Investors are advised to monitor cash flow dynamics closely. “Opportunistic buying of stocks showing strong cash flow signals from support levels could be considered, but short-term profit-taking may also be prudent for stocks nearing resistance zones,” they added.

On the Hà Nội Stock Exchange, the HNX-Index edged up by 0.73 per cent to close at 221.29 points. Over 59 million shares were traded on the northern bourse, with a total value exceeding VNĐ1.1 trillion.

Foreign investors continued their strong net selling trend, offloading shares worth over VNĐ1.2 trillion on the HoSE.

Vietnamese trade counselors in Americas contribute to trade growth: Minister

Vietnamese trade counselors in the Americas gathered at a conference in Rio de Janeiro, Brazil, on November 18 to evaluate their work in the past time and discuss orientations and tasks in the time ahead, aiming to further promote the export of Vietnam's goods to countries in the region and the world.

Attending the event online from Hanoi, Minister of Industry and Trade Nguyen Hong Dien hailed the performance of trade offices in the Americas, where there are leading strategic export partners of Vietnam. This is also a priority region for Vietnam in its efforts to expand multi-faceted cooperation.

The minister asked the conference to seek solutions to enhance the effectiveness of market research and trade promotion activities towards bringing more Vietnamese goods into distribution chains in the continent. He suggested building a shared database on the market and optimising the role of the large Vietnamese community in the region.

He also emphasised the need to intensify economic, trade and energy cooperation between Vietnam and partners in the Americas and capitalise on the existing mechanisms like inter-Governmental committees, joint committees, strategic partnership frameworks, comprehensive partnerships and signed free trade agreements to promote collaboration and attract investment in fundamental industries, supporting industries and high-tech industries.

The conference put a focus on assessing the current situation and trends of economic and trade policy in American countries along with their impacts on Vietnam, and made recommendations on strategies and measures to develop the market for Vietnamese goods in this region during 2024-2026 and following years. Participants shared experiences in implementing economic and trade cooperation frameworks and explored the possibility of building new ones with countries in the continent.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan required the trade offices in the Americas to continue to research and propose new cooperative mechanisms and policies for the country to participate deeper in regional and global value chains as well as in the formation of new ones.

He stressed that trade offices need to closely follow and assess international situations as well as policy changes in their host countries so as to timely advise the ministry and the Government to take appropriate responses and policies.

In the first ten months of 2024, Vietnam's export turnover with American countries regained strong growth momentum, reaching 114.9 billion USD, up 22.3% compared to 2023, and accounting for 34.2% of the country's total.

The US, members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the MERCOSUR bloc continued to be the largest importers of Vietnamese goods, buying 98.7 billion USD (up 24.6%); 11.3 billion USD (up 15.4%) and 2.8 billion USD (down 9.3%) respectively in the period.

Currently, Vietnam has signed and implemented three trade preferential agreements with countries in the Americas, which are the Vietnam-Chile Free Trade Agreement, the CPTPP with four countries of Canada, Mexico, Peru and Chile, and the Vietnam-Cuba Trade Agreement./.

Vietnam's 100 best places to work ranking released

The Vietnam Chamber of Commerce and Industry (VCCI) and the market research firm Anphabe have announced the list of the Top 100 Vietnam best places to work for 2024.

Unilever Vietnam topped the list in the large enterprise category. Others in the top 10 include Vingroup, Vietcombank, Abbott, Acecook Vietnam, Nestlé Vietnam, Coca-Cola Vietnam, Viettel and FPT.

In the medium-sized business section, PepsiCo Food Vietnam ranked first for a second straight year, while new to the list was Lego.

These rankings were based on votes from 65,000 employees across the country, evaluating over 700 reputable businesses spanning 18 key industries.

CEO of Anphabe, Thanh Nguyen said that the survey and announcement of the 100 best workplaces in Vietnam serves as a significant benchmark for assessing the appeal of employer brands.

The rankings are built on five stages of talent attraction, including awareness, interest, application, aspiration and prioritisation. Additionally, the criteria framework for an ideal workplace was crafted based on objective insights and expectations from employees across various organisations.

Vice Chairman of VCCI Vo Tan Thanh, emphasised that this recognition acknowledges the outstanding efforts of businesses in caring for their employees. It also creates an opportunity for companies to align leadership perspectives, share experiences and exchange strategies for effective human resource management.

This collaboration enables businesses to develop sustainably and contribute positively to the nation's overall growth.

According to Anphabe's survey, Vietnam's economy is showing promising signs of continued growth.

As many as 30% of businesses have planned to expand their workforce to meet growing production demands. Thanks to the economic rebound, 60% of employees received salary increases this year, a significant rise compared to just 15% in the previous year.

While 49% of employees reported feeling happy with their current jobs./.

AgroViet 2024 opens in Hanoi

The 24th International Agricultural Fair, AgroViet 2024, opened on November 20 at the Economic and Trade Fair Exhibition Centre in Hanoi, featuring 256 booths from more than 100 domestic and international participants.

Hanoi, November 20 (VNA) - The 24th International Agricultural Fair, AgroViet 2024, opened on November 20 at the Economic and Trade Fair Exhibition Centre in Hanoi, featuring 256 booths from more than 100 domestic and international participants.

Hosted by the Agricultural Trade Promotion Centre under the Ministry of Agriculture and Rural Development (MOARD), AgroViet showcases a wide array of agricultural products, including Vietnam’s signature OCOP (One Commune, One Product) items like ST25 fragrant rice, Dien Bien sticky rice, Chi Lang custard apples, and A Luoi beef, alongside international products such as Korean ginseng, Australian Manuka honey, and Chinese dried fruits.

The event also highlights advanced agricultural technologies, including rice milling machines, drones for pesticide spraying, organic fertilisers, and modern irrigation systems.

Nguyen Minh Tien, Director of the centre, this year event's theme "Connecting value chains for green agriculture and circular economy", AgroViet 2024 aims to strengthen international economic cooperation, promote trade, and showcase high-quality agricultural products. It also provides businesses and cooperatives a platform to explore domestic and export markets.

To support exhibitors in market access, the event partners with TikTok Vietnam to offer live-stream product promotions and workshops on digital marketing strategies. The fair runs until November 23./.

HCM City businesses not confident on digital and green transformations

Although the HCM City government is investing in many preferential policies and incentives for digital transformation and green development, many small and medium enterprises are still confused about how to implement them.

According to the City Investment and Trade Promotion Center (ITPC), digital transformation and green transformation, also known as “dual transformation”, has become an urgent requirement for businesses to achieve their goals and fulfill their social responsibilities.

The dual transformation could help the manufacturing sector come up with synchronised plans, attract more foreign investment and enter deeper into global production value chains.

These businesses are clearly aware of the benefits of digital transformation and green development. However, their resources are insufficient and limited.

Nguyễn Ngọc Hòa, Chairman of the City Business Association, said that demand for order at enterprises in the City has shown positive signs. Most enterprises have received orders from now until the end of this year. Many enterprises even have orders until the end of the first quarter of 2025.

Another good sign is that commercial banks are now offering preferential loan packages with attractive interest rates, so capital is no longer a big problem. Currently, businesses are both maintaining production orders and planning to invest in digital transformation and green development.

Firms have understood the significance of digital transformation, with many proactively integrating digital transformation targets into their development strategy as well as mobilising necessary resources for digital transformation projects.

The twin green and digital transition trend is becoming increasingly important in the world, focusing on the three main pillars of increasing sustainable productivity and economic efficiency, strengthening resilience and adaptation to climate change, and minimising or eliminating greenhouse gas emissions, experts said.

Many enterprises have embarked on digitising data, standardising process, accelerating the application of digital technology, and moving towards more extensive and synchronised digital transformation.

However, many small and medium-sized enterprises are still hesitant and confused about digital transformation and investing in green production.

Firms face challenges in achieving transformations in terms of database establishment, data analysis, usage and security, human resources, having transformation support systems, and, importantly, finding the right solutions for their businesses, experts said.

According to businesses, although the order situation has shown positive signs, due to price competition with other countries, profit margins remain the same or are even lower.

Meanwhile, investing in digital transformation and green manufacturing requires a lot of resources and capital.

"Green transformation and digital transformation are putting a lot of pressure, especially on most small and medium-sized enterprises. Enterprises are confused because they do not know where to start with green transformation and digital transformation, because if they do everything at once, their resources will not be enough," Hoa said.

In Việt Nam, digital technology and digital transformation are expected to be a motivation to bolster green economic transition and realise strategic targets on green growth.

Despite having adequate awareness and knowledge about digital transformation, Vietnamese businesses often find it difficult to independently carry out this comprehensive change process.

Therefore, it is necessary to have policies, support programmes, and consultations for businesses about the digital transformation roadmap, as well as assistance in applying appropriate digital transformation solutions, thus helping them make breakthroughs in the coming time, according to experts. 

According to the report of the City Statistics Office, the business environment in the city has not changed positively as the number of newly established enterprises in the first 10 months of 2024 decreased by 1.2 per cent and capital decreased by 16.8 per cent over the same period.

The number of enterprises participating in the market increased by 2.4 per cent but the number of enterprises withdrawing from the market increased by 6.5 per cent over the same period. 

Vinhomes acquires 190M shares, exceeds half of registered total

Vinhomes (VHM) has undertaken a significant buyback initiative, data from the Hồ Chí Minh Stock Exchange (HoSE) revealed. 

By November 19, Vinhomes had repurchased a total of 190 million treasury shares, representing 51.37 per cent of the registered volume. Projections indicate that the company aims to cap its buyback at a maximum of 264 million shares. 

Notably, during the November 19 session alone, Vinhomes acquired over 15 million shares, marking the third-largest volume purchased since the commencement of the buyback programme.

As per official disclosures, the property developer intends to acquire up to 370 million treasury shares, equivalent to 8.5 per cent of the total circulating shares. The buyback transactions are executed through matched orders and/or agreements from October 23 to November 21.

The rationale behind the share repurchase stems from Vinhomes' stock price trading below its intrinsic value. By reacquiring shares, the company aims to safeguard its interests and those of its shareholders. The funding for this repurchase is sourced from undistributed profits after tax as per the audited financial statements for 2023.

In accordance with regulations, Vinhomes is obliged to acquire a minimum of 1.1 million shares and a maximum of 37 million shares per trading day within the registration period.

With only two trading days remaining within the buyback registration timeframe, November 20 and November 21, Vinhomes is on the brink of concluding its transactions. 

Considering the trading pace and the stipulated maximum purchase quantities per session, it is estimated that Vinhomes may acquire a maximum of 74 million units in these two sessions, potentially reaching around 264 million shares, or over 71.3 per cent of the total registered buyback volume.

On the stock market, the company's shares traded positively on Wednesday, up 2.61 per cent to VNĐ 43,300 per share. It closed Tuesday trade with a gain of over 3 per cent. 

Appliance, cleanroom, high-tech factory exhibition to be held this week

The CLEANFACT & RHVAC VIETNAM 2024 exhibition, which will be held from November 21 to 23 at the Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City, will focus on refrigeration, air conditioning, cleanrooms and high-tech factories.

Organised by IBC, INTECH Group, VISRAE and BEXCO, the event serves as a key platform for businesses and experts in these industries to connect, share knowledge and explore sustainable solutions.

This year over 100 exhibitors from countries like Japan, the Republic of Korea and China, along with several from Europe, will showcase cutting-edge technologies in refrigeration, HVAC systems and cleanroom solutions. Key brands like Panasonic, LG, Fujitsu and Shuangliang will present their latest innovations, offering attendees a chance to explore new products and form international partnerships.

The exhibition focuses on two main areas: cleanroom and high-tech factory support, featuring equipment, materials and solutions for cleanroom construction and high-tech manufacturing. It also features refrigeration and air conditioning, covering industrial, commercial and residential HVAC systems, cooling solutions and components for refrigeration production.

Highlighting the event is the RHVAC Techshow, which will address 'Sustainable Cooling and Green Transition Trends,' showcasing eco-friendly cooling solutions and energy-saving technologies. An in-depth seminar will also cover the implementation of national policies related to ozone-depleting substances and greenhouse gases, helping businesses navigate environmental challenges.

The event also offers specialised forums on cleanroom technology, Eurovent certification, air quality in medical facilities and data centre infrastructure. With more than 100 companies and numerous seminars, CLEANFACT & RHVAC Vietnam 2024 is a vital opportunity for industry professionals to expand networks, discover new technologies and stay updated on industry trends./

Deputy PM Bui Thanh Son receives World Bank Vice President

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son on November 20 received World Bank (WB) Vice President for East Asia and the Pacific Manuela V. Ferro who is paying a working visit to Vietnam.

During the reception, Son hailed the WB's decision to establish a regional office in Hanoi and shared his desire to work closely with the office, noting the WB is a reliable partner that has significantly supported Vietnam's socioeconomic development.

He affirmed that Vietnam is committed to strengthening the partnership with WB and hopes to continue to cooperate with the WB in programmes to promote sustainable growth, green economy, digital economy and circular economy in the near future. The Deputy PM informed the guest that the Government of Vietnam has established a working group headed by a Deputy Minister of Planning and Investment to closely coordinate with the WB office in Vietnam to solve challenges related to the implementation of WB projects.

This will help reduce preparation and approval time, especially when there are differences between Vietnam’s and WB’s regulations.

Son welcomed the WB's proposal to lend to Vietnam for the next five years focusing on key areas such as infrastructure (large-scale transport projects), energy (energy transition and renewable energy), and agriculture (environmentally friendly initiatives such as low-emission rice cultivation projects).

The Deputy PM called on the WB to continue to simplify the approval process and adopt a flexible approach in the negotiation process to address challenges, and asked the WB to provide more non-refundable aid to mitigate the impact of high-interest loans from the International Bank for Reconstruction and Development (IBRD). In 2017, Vietnam graduated from the status of an Official Development Assistance (ODA) recipient, specifically from the International Development Association (IDA) of the WB.

According to Son, the Vietnamese Government has submitted to the National Assembly amendments to some laws to simplify procedures and solve challenges related to disbursement and planning for projects using ODA and foreign concessional loans.

He suggested that the WB's regional office continue to work closely with relevant agencies of Vietnam to study and propose solutions to shorten the preparation time for projects and solving cases where there are differences in regulations of Vietnam and the WB.

Acknowledging Vietnam's success in economic development over the past time, the WB Vice President said her visit to Vietnam this time aims to discuss measures to make Vietnam a high-income country by 2045. That depends a lot on both internal factors and external factors. She noted that Vietnam has benefited from the openness of international trade.

The WB wants to help Vietnam identify opportunities and risks along with suitable investments, she said, adding that the WB always provides support in accordance with the context and development investment needs, and is ready to support Vietnam in the upcoming development.

Ferro took note of an improvement in the disbursement of projects funded by WB loans in Vietnam, but it is still slow.

According to her, one of the advantages of a higher income status is that it has conditions and access to the international financial market. It can mobilise capital from many different sources to serve its development process./.

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.

According to data from the General Department of Vietnam Customs, two-way trade reached 10.63 billion in USD the first nine months of 2024, representing a 14.1% increase year-on-year. Of this, Vietnam's exports totaled 3.81 billion USD, a modest rise of 3.5% year-on-year, while imports stood at 6.82 billion USD, up 21.1%.

Notably, rice enjoyed a 131.2% surge in oversea shipments, becoming the third largest export items, accounting for 9.8% of Vietnam's total exports to Malaysia and surpassing mobile phones and components, which made up 8.5%.

Along with rice, coffee also saw the impressive growth of 117.5% compared to the same period last year. However, this increase was primarily driven by coffee beans, used as a raw material for Malaysia's coffee industry.
Although both chemicals and rubber posted significant rises of 124.1% and 287.6%, their shares in the total value remained low, just 3.1% and 0.6%, respectively.

For import, the nine-month span saw the return of computers, and electronics and components to the top position, accounting for 24.1% of the combined import value and rising by 25.8% year-on-year. This pushed petroleum products to the second place, with a 21 % share, although they also experienced an increase of 25.6%.

According to experts, Malaysia's market has strong purchasing power and diverse demand, and share similarities in consumer culture with Vietnam. They also highlighted its relatively low barriers for Vietnamese exports as both countries are members of several regional trade liberalisation agreements.
Apart from the fierce competition in the open market, they said food products are required to obtain Halal certification, which is not recognised by Vietnamese State agencies but those in certain Muslim countries. Currently, only one non-governmental organisation in Vietnam is authorised to issue the Halal certificate, and recognised by the Department of Islamic Development Malaysia.

Minister of Industry and Trade Nguyen Hong Dien and Malaysian Minister of Investment, Trade, and Industry Tengku Zafrul Aziz recently co-chaired the 4th meeting of the Vietnam-Malaysia Joint Trade Committee.

Dien praised Malaysia as a key economic, trade, and investment partner of Vietnam, saying since the third meeting in 2015, the bilateral cooperation has flourished, achieving several notable milestones.

In 2023, their trade was valued at nearly 13 billion USD. Cooperation in energy and labour supply, as well as collaboration within multilateral frameworks have thrived, contributing to the development of both countries. The partnership in other sectors such as agriculture, investment, and banking has also seen progress.

The two sides are working on bilateral cooperation documents, covering trade promotion, banking supervision, and agriculture, according to Dien.

As some cooperation contents have yet to match both sides’ potential, the official suggested they sketch out orientations and measures to better tap their advantages to boost the economic-trade ties comprehensively.

Experts said the two countries’ localities and associations need to step up trade promotion, while exporters should be cautious in transactions and pay more attention to the export of Halal food to the market.

They also emphasised that the two countries would support each other in digital technology, the green economy, and the energy sector. /.

Fashion manufacturing plant worth $20 million given green light in Bình Định

The Bình Định Economic Zone Authority has granted an investment certificate for the TnB Vietnam fashion manufacturing plant project, funded by HGQ ASIA PTE. LTD (Singapore).

Located in Hòa Hội Industrial Park, Cát Hanh Commune, Phù Cát District, the project spans over 8.4 hectares with a total investment of VNĐ495.8 billion (approximately US$20 million). The capital includes $8 million in equity and $12 million in mobilised funds.

The project will be implemented in two phases. Phase 1, covering 3.3 hectares, will be see building work until October 2026. It includes building workshops, warehouses and office spaces, installation of machinery, workforce recruitment and training, and initiating production operations.

Phase 2, spanning 4.8 hectares, will run from November 2026 to November 2027. This involves constructing additional workshops, installing equipment, recruiting additional workers and starting full-scale production.

When completed, the plant is expected to produce seven million high-end fashion items annually. The project is set to operate until 10 March 2067, as per the terms of the initial investment certificate. Capital contribution and fund mobilisation will proceed according to the project timeline.

The Bình Định Economic Zone Authority has mandated that the investor adhere strictly to the project’s objectives, scope and committed schedule, while complying with regulations on construction, land use, environmental protection, labour and investment laws throughout the project’s execution.

People, community at heart of digital transformation: Deputy PM

People must be at the heart of digital transformation and serve as the driving force and ultimate purpose of sustainable development, Deputy Prime Minister Le Thanh Long said on November 20.

Speaking to an audience of some 1,000 delegates from countries, regions and international organisations across the globe at the 2024 World Internet Conference Wuzhen Summit in China’s Zhejiang province, Long stressed that digital transformation is an inevitable trend, an objective requirement, a strategic choice, and a top priority for countries, towards rapid and sustainable development. Artificial intelligence, blockchain, Internet of Things, big data, and cloud computing are becoming crucial production tools. Strong digital transformation brings both opportunities and challenges to residents, he noted.

He called on countries and organisations to bolster close cooperation to build an Internet community of safety, responsibility and development while laying stress on Vietnam’s significant progress in the digital transformation programme until 2025 with a vision to 2030, focusing on the three pillars of digital government, digital economy and digital society.

Vietnam, he said, has carved out positive results in digital growth, ranking among the world's top 10 fastest-growing e-commerce markets, 74th among 193 countries in the E-Government Development Index, and 44th out of 133 in the Global Innovation Index this year.

The Deputy PM outlined Vietnam's key priorities for the new development phase, including perfecting institutional frameworks with special mechanisms for digital transformation, strengthening national digital infrastructure, developing high-quality human resources, promoting digital platforms for citizens and businesses, and building a healthy digital culture while preserving traditional values.

He expressed his confidence that China will continue promoting its important role in the global economy, particularly bolstering digital transformation and green transition, adding with joint international efforts, countries could build a peaceful, safe and prosperous digital future for humanity.

Themed “Embracing a People-Centered and AI-for-Good Digital Future - Building a Community with a Shared Future in Cyberspace”, the summit runs from November 19-22 and features 24 specialised forums addressing critical issues from digital education to AI governance.

On the same day, Long received Lu Dongliang, Chairman and President of China-ASEAN Information Harbor Ltd, during which he spotlighted the robust Vietnam – China friendship and comprehensive cooperation over the recent past. He stated that the Vietnamese Government creates favourable conditions for ministries, sectors and localities to enhance win-win collaboration with Guangxi enterprises, including China-ASEAN Information Harbor Ltd.

He suggested the firm step up discussions, share experience in the development of IT infrastructure as well as IT management with the Vietnamese sides, and bolster collaboration in digital economy with Vietnamese tech giants.

Lu, for his part, expressed his admiration for Vietnam’s digital transformation journey, saying he hopes to foster cooperation with the country in building a data exchange platform and digital workforce training.

The Vietnamese Deputy PM will have a meeting with Wang Hao, Secretary of the Party Committee and Governor of Zhejiang province on November 21./.

Appliance, cleanroom and high-tech factory exhibition to be held this week

The CLEANFACT & RHVAC VIETNAM 2024 exhibition, which will be held from November 21 to 23 at the Saigon Exhibition and Convention Centre (SECC) in HCM City, will focus on refrigeration, air conditioning, cleanrooms and high-tech factories.

Organised by IBC, INTECH Group, VISRAE and BEXCO, the event serves as a key platform for businesses and experts in these industries to connect, share knowledge and explore sustainable solutions.

This year over 100 exhibitors from countries like Japan, South Korea and China, along with several from Europe, will showcase cutting-edge technologies in refrigeration, HVAC systems and cleanroom solutions. Key brands like Panasonic, LG, Fujitsu and Shuangliang will present their latest innovations, offering attendees a chance to explore new products and form international partnerships.

The exhibition focuses on two main areas: cleanroom and high-tech factory support, featuring equipment, materials and solutions for cleanroom construction and high-tech manufacturing. It also features refrigeration and air conditioning, covering industrial, commercial and residential HVAC systems, cooling solutions and components for refrigeration production.

Highlighting the event is the RHVAC Techshow, which will address 'Sustainable Cooling and Green Transition Trends,' showcasing eco-friendly cooling solutions and energy-saving technologies. An in-depth seminar will also cover the implementation of national policies related to ozone-depleting substances and greenhouse gases, helping businesses navigate environmental challenges.

The event also offers specialised forums on cleanroom technology, Eurovent certification, air quality in medical facilities and data centre infrastructure. With more than 100 companies and numerous seminars, CLEANFACT & RHVAC Vietnam 2024 is a vital opportunity for industry professionals to expand networks, discover new technologies and stay updated on industry trends. 

Vingroup launches VinRobotics: a leap into the future of automation

Vietnamese conglomerate Vingroup on November 20 announced the establishment of VinRobotics JSC, with a charter capital of 1 trillion VND (40 million USD), aiming to revolutionise production efficiency and optimise processes across industry, services and daily life through production and integration of smart robots and robotic products.

According to a resolution recently approved by its Board of Directors, Vingroup holds a majority stake of 51% in VinRobotics. Pham Nhat Vuong contributes 39%, while his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang each own 5%. The position of General Director is held by Ngo Quoc Hung.

VinRobotics specialises in research, development and transfer of advanced technologies, particularly in automation, industrial robotics, and artificial intelligence (AI). Its goal is to become a leading entity in providing advanced smart products and hi-tech solutions, not just within the Vingroup ecosystem but also other businesses in key economic and industrial sectors across Vietnam and the broader region.

The establishment of VinRobotics JSC marks a significant milestone in Vingroup’s ongoing efforts to perfect its hi-tech industrial ecosystem, which stands as one of its three core pillars alongside commerce-services and social philanthropy.

Vingroup is already a pioneer in Vietnam’s automotive industry with its flagship electric vehicle brand VinFast. The group has also made significant strides in AI and big data technologies through its brands VinBigdata, VinAI, and VinBrain./.

Lâm Đồng to improve quality of tourism products

Developing high-quality and diverse tourism products is a priority task of Lâm Đồng Provincial Party Committee to achieve the goal of developing tourism in the province.

Development will be based on effectively promoting local potential, advantages and differences, in accordance with market needs and preserving sustainable landscapes.

Under the plan, the province will develop a sustainable, modern, effective, and organic agricultural economy, and establish large-scale specialised farming areas in order to become a national and international centre for high-tech organic agricultural research and production.

Chairwoman of Lâm Đồng Provincial People's Council Phạm Thị Phúc affirmed that the tourism industry continues to be a important economic sector, a bright spot in the province's socio-economic development. After the impact of the COVID-19 pandemic, the province has focused resources on deploying and restoring tourism activities in the direction of developing high-quality tourism, with many new tourism products and services being added.

Lâm Đồng's tourism industry has seen positive achievements in many aspects, such as the growing number of tourists; facilities and tourism infrastructure are invested in and upgraded; and tourism products are diversified with many new tourism products that increasingly meet the needs of tourists, such as adventure sports tourism, agricultural tourism and cultural heritage tourism.

Under the project "Building Đà Lạt City into a Smart City" for the period 2018 - 2025, approved under Decision No. 1365/QD-UBND dated July 5, 2018 of the provincial People's Committee, the province has officially launched the Dalat.vn portal and the "Smart Tourism" application on mobile devices called " Đà Lạt Flower City" and the "Đà Lạt Online" application.

The city also maintains wifi at: Provincial Public Administration Centre, Lâm Viên Square, Night Market, Hòa Bình Area, City Flower Garden, Interprovincial Bus Station, Thành Bưởi Bus Station, Big C Supermarket and Mê Linh Coffee, with the capacity to serve up to wifi access to 50,000 visitors and residents per day.

At some places with a high concentration of tourists and residents such as Lâm Viên Square and Hòa Bình Area, wireless broadcasting infrastructure of three network service providers (VNPT, Viettel, FPT) is installed.

Smart tourism maps are also deployed and integrated with smart tourism maps (map and camera maps) on the Dalat.vn portal and Dalatflowercity smart tourism application. Information is also updated for sightseeing, dining, shopping, entertainment, information, images combined with AR, VR technology, 3D models to help visitors easily visit locations, make travel plans, save time, costs, and help visitors have many opportunities to experience locations when coming to Đà Lạt - Lâm Đồng.

The city is piloting a number of night-time economic models to promote potential tourism products and services for tourists and residents such as: Lý Tự Trọng Art Street; City Flower Garden night food court; Đà Lạt walking street in Hòa Bình area; the night tourist train "Đà Lạt Night Journey" at Đà Lạt Station; and Trần Quốc Toản walking street.

According to the provincial government, if the province continues to implement the above plans and projects, it will strengthen the Lâm Đồng - Đà Lạt tourism brand.

The province also plans to invest to build large, modern amusement parks, and high-class restaurants and hotels.

Currently, there are 3,070 tourist accommodation establishments with a total of 43,684 rooms in Lâm Đồng, including 449 hotels from one to five stars with 13,172 rooms.

The province has 82 travel agents, including 44 for international travels and 38 for domestic travels.

In addition, the entire province has 112 tourist attractions - including Tuyền Lâm Lake National Tourist Area and 11 provincial-level tourist attractions.

E-commerce connection and development forum to be held

The E-commerce Connection and Development Forum 2024 on the theme 'Cross-border e-commerce: Export opportunities for Vietnamese products' will be launched in Hanoi on November 26 by the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.

Vietnam is one of the fastest growing e-commerce markets in Southeast Asia. According to reports by Google and Temasek and Bain & Company, in 2023, the value of the Vietnamese e-commerce market reached more than 20 billion USD. According to the government news site chinhphu.vn this figure is expected to increase to 52 billion USD in 2025.

Alongside opportunities from Free Trade Agreements, micro, small and medium-sized enterprises (MSMEs) in Vietnam are shifting their business from traditional channels to e-commerce.

Cross-border e-commerce has become an important route for exports, again expanding the consumption market for Vietnamese goods.

However, MSMEs also face difficulties and challenges when exporting goods via e-commerce. Specifically, many of them lack the necessary skills to operate e-commerce platforms and optimise user experience.

Regarding logistics, the transportation and warehousing systems have not developed evenly, making it difficult to meet international delivery needs.

Meanwhile, complex regulations and tax differences between countries make cross-border business difficult.

They can also find it hard to compete with larger companies in terms of price and service quality.

Regarding market information, MSMEs often have difficulty collecting and analysing data to understand the international market.

Therefore, the E-commerce Connection and Development Forum 2024 aims to address these issues and introduce models and solutions to support MSMEs in promoting exports via e-commerce platforms.

The forum is expected to have the participation of 500 delegates from ministries, branches and localities, embassies and trade offices of some Asian countries in Vietnam, along with associations and Vietnamese and foreign enterprises.

At the working sessions, there will be presentations by domestic and international speakers on new export trends through cross-border e-commerce and the fastest way of approaching international markets for MSMEs.

At the same time, they will introduce to the enterprises warehouse models, O2O (online-to-offline) models and successful strategies in markets such as China, the Republic of Korea and Southeast Asia

In addition, the forum will help businesses grasp legal regulations on cross-border e-commerce, customs procedures, taxes and legal issues in Vietnam, China and South Korea and build appropriate business plans.

Alongside the main forum there will be more than 80 exhibition booths to help businesses seek trade opportunities, establish long-term cooperative relationships with foreign suppliers, logistics partners and e-commerce platforms./.

Workshop explores Vietnam's path to high-income future

A workshop aimed at charting Vietnam's course toward a high-income future took place in Hanoi on November 20.

Co-chaired by President of the Ho Chi Minh National Academy of Politics (HCMA) and Chairman of the Central Theory Council Prof. Dr. Nguyen Xuan Thang and World Bank (WB) Vice President for East Asia and the Pacific Manuela V. Ferro, the event brought together 150 delegates from ministries, agencies, international organisations, research institutes and the private sector.

HCMA Vice President Assoc. Prof. Duong Trung Y said a high-income future for Vietnam will require breakthrough, or even transformative changes in its policy and institutional reforms in the coming years, including bold strategies to ensure effective policy enforcement.

WB Country Director for Vietnam Mariam Sherman said in order to escape the "middle-income trap", Vietnam needs a change in its development trajectory, with broad reforms and fostered innovation. Key to this transformation is boosting labour productivity, encouraging greater private sector involvement, and prioritising education and skill development to cultivate a workforce adept at driving technological adoption.

Furthermore, Vietnam should focus on moving from low-value to high-value industries within global value chains, thereby enhancing its competitiveness and economic standing, she said.

To achieve high-income status by 2045, Vietnam needs to triple its current per capita income, which necessitates maintaining an average annual per capita growth rate of 6% over the next two decades, experts said.

The workshop proposed several solutions to facilitate this transition, including modernising technology, upgrading skills, and promoting innovation to elevate Vietnam's position within global value chains.

Delegates called for deepening trade integration, strengthening links between domestic firms and global value chains, and promoting the use of modern technology and specialised skills to create greater added value, particularly in the services sector. Additionally, transitioning to a low-carbon production model was highlighted as essential for sustainable growth.

Prof. Thang commended the World Bank’s report, describing it as a meticulously researched and scientifically-grounded document. He also noted its invaluable contribution to policy drafting, particularly in preparation for the 14th National Party Congress, scheduled for early 2026./.

VNA/VNN/VNS/VOV