A pilot model of high-quality, low-emission rice production was launched in Thanh An commune, Vinh Thanh district, the Mekong Delta city of Can Tho on April 5, marking the start of a project on sustainably growing one million hectares of high-quality, low-carbon rice in the Mekong Delta by 2030.

The launching ceremony saw the attendance of representatives from the Ministry of Agriculture and Rural Development (MARD), and 12 Mekong Delta localities participating in the project, farmers, experts and those from international organisations.

The 50-hectare model will be carried out at Thuan Tien Cooperative in Thanh An commune, applying sustainable farming techniques.

Director of Thuan Tien Cooperative Nguyen Cao Khai said once the model proves successful, it will be replicated in all of the cooperative’s 512 hectares, and other localities.

Deputy Director of the municipal Department of Agriculture and Rural Development Tran Thai Nghiem said farmers and the local agricultural sector share the hope that cutting-edge farming methods will soon be put in place in Can Tho, contributing to raising rice quality and cutting emissions from cultivation.

Rice output in the Mekong Delta, dubbed the nation's rice granary, has remained stable at 24-25 million tonnes per year, accounting for more than half of the country’s total amount and 90% of its rice exports.

The same day, the MARD launched five demonstration sites on high-quality, low-carbon rice cultivation to train local farmers.

The project has received the support from many international organisations and businesses such as the World Bank and the International Rice Research Institute.

IRRI Deputy Director General Joanna Kane-Potaka expressed her hope that through the pilot model, farmers can learn from experience of experts and partners in low-carbon rice cultivation./.

Vietnamese durian gains popularity in China

Vietnamese durian has been taking China by storm, capturing nearly 32 per cent of the world’s largest market since entering in 2022, according to the Department of Plant Protection, under the Ministry of Agriculture and Rural Development (MARD).

Meeting the phytosanitary requirements to enter China has created an unprecedented opportunity to develop Việt Nam’s durian industry, steering it to higher standards of modernity, quality, safety and sustainability.

The department said exporters must continue improving their products and sales techniques to strengthen their foothold to compete against Thai durian, their main competition with up to 68 per cent market share in China.

As Vietnamese durian gained popularity in China, farmers have been switching to growing durian, getting rid of less productive crops in the process.

To date, the General Administration of Customs of China (GACC) has approved 708 area codes for durian cultivation and 168 facility codes for durian packaging in Việt Nam. The department said it must be made a top priority to ensure the codes’ integrity.

Local government and central agencies must step up efforts in the inspection, supervision and monitoring of cultivation areas, as well as packaging facilities to control the quality of exported durian from the growing stages to harvest, packaging and exporting. Violations and frauds must be dealt with severely and quickly.

However, long-term reforms that aim for a sustainable industry must still be rolled out, especially in building up a foundation for farmers and businesses to work together on the principle of equal partners and towards mutual benefits.

At the same time, Việt Nam should focus on the development of production and processing centres, as well as a product value chain. Currently, durian-growing area nationwide was reported at over 112,000 hectares, 9 per cent of the country’s fruit-growing area, with a production volume of 863,000 tonnes per year.

The main markets for Vietnamese durian are China, Thailand, Japan and the United States.

Last year, the Southeast Asian country exported over 603,000 tonnes of durian, of which more than 595,000 tonnes, or 98.6 per cent, were exported to China. By the end of February this year, Việt Nam exported over 41,000 tonnes to China. 

Producers eager for eco-impact rules

While environmental problems around manufacturing plants are increasing, numerous businesses are clamouring for simplified procedures on impact assessment reports.

One large-scale manufacturer in the electrical industry in the northern province of Bac Giang, in operation for many years, has been granted an environmental licence according to the Law on Environmental Protection 2020 (LEP). Now the company plans to expand the project scale to produce about six million products per year. However, it has struggled with environmental impact assessment (EIA) permits, which have to cover numerous aspects.

“The procedures have become difficult and take a lot of time and cost. We have to submit it to the Ministry of Natural Resources and Environmental (MoNRE), instead of the provincial authority,” said Nguyen Thu Huyen, director of the company. “We would like to accelerate the procedures of expanding the factory to set up and start manufacturing. Numerous orders are waiting for us.”

As of 2022, amendments to the LEP have strengthened the licensing authority for EIAs. The authority has shifted from provincial levels to the central government agency, the MoNRE, based on the potential for pollution, production quantities, and related factors.

“As a result, the time and cost of obtaining permits for EIAs have increased, placing a burden on business operations for companies,” said Hong Sun, chairman of the Korean Chamber of Commerce and Industry in Vietnam.

According to Decree No.08/2022/ND-CP on the elaboration of several articles of the LEP, its appendix lists types of productions, businesses, and services likely to cause environmental pollution.

“However, even for items that do not cause environmental pollution, if the production quantity exceeds the specified threshold (1,000 tonnes or one million units), a permit from the ministry rather than the provincial authority is required,” Sun said.

Additionally, for factory expansion through additional investment or new investments, approval from the central government is necessary if the conditions are exceeded. Therefore, in the electrical and electronic industries, many South Korean manufacturers of electronic components often exceed a monthly production quantity of one million units.

“Consequently, new entrants or companies seeking to expand their investments, who fall under this category, must undergo EIAs, leading to concerns about excessive time and cost,” Sun claimed. “Delays in obtaining permits are causing disruptions in the production schedules of factories.”

Currently, the evaluation process has become more streamlined compared to the early stages of legal enforcement. However, the reality is that the EIA takes a minimum of two months, and the documentation required for permits has increased by more than 50 per cent compared to the documents submitted for provincial-level permits.

Specifically, for the existing EIA review and approval process, dossiers have to be submitted to the provincial departments of planning and investment and industrial zone management boards, then transferred to the provincial departments of natural resources and environment, final review by the provincial people’s committees, and final assessment approval. This poses a hindrance to the swift investment activities of companies.

“While South Korean companies fully respect the Vietnamese government’s efforts in environmental pollution prevention and management, it is strongly believed that reducing the excessive administrative processing costs and time for permits aligns not only with promoting foreign investment in Vietnam but also with the government’s direction towards administrative procedure reforms,” Sun said.

Environmental impacts are always a source of concern at manufacturing projects, including noise, dust, wastewater, and emissions pollution, as well as overuse of natural resources, land, and water.

Last week, Phu Yen People’s Committee sanctioned Phu Yen Tapioca Starch JSC with an administrative penalty of over $140,000 for six violations of environmental protection and natural resources.

In the electrical and electronic industries, waste is becoming an increasing concern. According to the fourth Global E-Waste Monitoring report from the UN Institute for Training and Research, released on March 20, the annual generation of e-waste globally is rising by 2.6 million tonnes annually, on track to reach 82 million tonnes by 2030.

HCMC leader bemoans slow capital disbursement

The HCMC government leader has criticized four project management boards for their slow project execution, which has led to capital disbursement delays.

The admonishment from HCMC Chairman Phan Van Mai came during a recent meeting on project development progress and capital disbursement for public investments in 2024, reported the local media.

These criticized boards oversee vital infrastructure projects including urban railways, traffic infrastructure, and civil and industrial construction.

While the city had been allocated VND79.26 trillion for public investment this year with a disbursement rate target of over 95%, the actual disbursement rate in the first quarter was only 7.02%.

Mai urged departments, districts and investors to take measures to remove obstacles and expedite project progress.

The Department of Home Affairs in HCMC was tasked with coordinating efforts to evaluate project completion based on disbursement outcomes, in collaboration with the Department of Planning and Investment.

The Department of Planning and Investment was instructed to collaborate closely with investors and contractors to accelerate disbursement and suggest sanctions against those causing delays, particularly focusing on ensuring adherence to contractual obligations.

Investors, on their part, are required to establish clear timeframes for project tasks, especially those related to land clearance, and review signed contracts to delineate responsibilities more precisely.

Efforts needed to develop salt industry

For the sustainable development of salt industry, it is required to develop the production of salt and diversify salt products to meet domestic demand that supplies other industries, moving towards the aim for export.

Salt is an essential commodity, playing a crucial role in ensuring national food security. According to the Ministry of Agriculture and Rural Development, the demand for salt in our country is about 1.5-1.6 million tons per year, but domestic production can only meet about 1 million tons, mainly for consumption. However, salt for industry and medical fields still needs to be imported because domestic production does not meet the requirements for quantity, quality, and price competitiveness.

Therefore, the Government's salt industry development plan aims to achieve a total production area of ​​14,500 hectares and a production volume of 1.5 million tons per year nationwide by 2025. By 2030, the target is to reach an area of ​​14,244 hectares and a production volume of 2 million tons per year.

To achieve this goal, it is necessary to invest in developing salt production linked with processing and market expansion. Additionally, efforts should be made to enhance research and application of scientific and technological advancements in salt production to increase productivity, quality, and diversify products. It is also crucial to revive, preserve, and develop traditional salt-producing villages as well as diversify salt-related products in conjunction with rural tourism in local areas.

Along with that, to meet the demand for industrial and medical salt, which currently accounts for about one third of the total salt consumption nationwide, equivalent to about 400-600 tons of salt needing to be imported annually, it is essential to not only increase production but also improve its quality. Salt farmers, cooperatives, and salt-producing enterprises need to establish models for producing clean salt, ensuring source traceability, applying good technological processes, developing salt brands, and establishing strong market connections.

At the same time, to create a "development space" for the salt industry, it is necessary to generate more added value for this sector, shifting from a mindset of salt production to building a salt-based economy. Salt should be considered not only as a seasoning but also as a crucial ingredient for producing food, pharmaceuticals and cosmetics, which should be integrated with values from tourism and services. This requires cross-sectoral approach and inter-agency coordination.

The Bac Lieu Salt Festival first held in 2024 is a new approach to enhance the value chain of salt. This event is expected to not only promote and introduce domestic salt products in general and Bac Lieu salt in particular, but also to promote commercial investment and attract organizations and enterprises to invest in salt industry. Moreover, it aims to integrate multiple values through leveraging the strengths of the seafood processing industry and establishing Bac Lieu Salt Village as a tourist destination that offers diverse and unique experiences to tourists, contributing to the cultural industry.

Banks making efforts to increase credit growth

With excess liquidity, banks all over the nation are trying to address stagnant capital flow and have received a number of positive signs.

Because of negative credit growth and excess liquidity, the State Bank of Vietnam has decided to use the bill channel to net withdraw money from the market in order to reduce the pressure on exchange rate speculation. In March 2024, the Vietnam State Bank adopted net withdrawal for more than VND170 trillion (US$6.81 billion) via this method.

Despite that act, deposit interest rates among banks in Vietnam are still rather low. Commercial banks have been trying to push cheap capital into the market to stimulate credit growth.

For instance, Sacombank is allocating VND10 trillion ($400.8 million) for short-term loans for manufacturing and trading purposes with an interest rate of only 3 percent a year. Agribank has VND50 trillion ($2 billion) also for short-term loans of the same purposes with an interest rate of 3-4 percent a year. SHB has just reduced its interest rate for medium and long-term loans to 5.79 percent a year for individuals and 5.8 percent a year for businesses.

Thanks to those efforts, until March 25, the national credit growth was about VND13,600 trillion ($545 billion), a rise of 0.26 percent compared to the end of 2023. Sadly, the credit growths of several major commercial banks are still negative.

President Phan Duc Tu of BIDV’s Board of Directors informed that in the first two months of this year, his bank has already disbursed more than VND470 trillion ($18.84 billion) even though its outstanding debt has decreased by over 1 percent as opposed to the end of last year.

President Pham Duc An of Agribank’s Board of Directors reported that the gap between loan and debt collection after two months dropped by VND2 trillion ($80.16 million) year on year. Vietcombank’s credit growth rate in January 2024 reduced by VND30 trillion ($1.2 billion) or 2.3 percent compared to the end of 2023.

This comes from seasonal factors as well as weak capital absorption capacities of businesses in the country.

On the other hand, reports by the HCMC Business Association (HUBA) reveal that many small and medium-sized enterprises are not able to access credit capital even though banks are offering various preferential policies on loan interest rates while trying to maintain debt groups.

As these reports show that 41 percent of operating companies no longer have legal collateral to borrow money, HUBA proposed an increase of loan amounts on collateral and permission to receive contractual loans with future assets and asset rights. In addition, businesses have suggested that banks should use less strict loan conditions or criteria so that they could approach necessary capital.

Deputy Director Nguyen Duc Lenh of the State Bank of Vietnam – HCMC Branch commented that credit organizations in the city have been actively implementing several solutions for credit growth along with prompt support to enterprises.

The capital supply – demand connection activities held lately here have indeed improved the situation. About VND52 trillion ($2.08 billion) out of the credit package of VND509 trillion ($20.4 billion) registered by 17 commercial banks in the program ‘Connecting Banks – Businesses 2024’ was successfully distributed to nearly 15,400 clients, accounting for 11 percent of this package.

Owner of Thanh Danh Rice-paper Production Co. (sited in Cu Chi District of HCMC) shared that thanks to the above program, she timely loaned VND15 billion ($600,000) to upgrade her production system to reach an output of 6 tonnes a day for both domestic and foreign consumption.

Similarly, Director of Saigon Rice Warehouse One-member Co. Ltd. happily said that thanks to the meaningful program above, companies like his organizations are confident talking with banks and approach necessary capital to overcome their financial obstacles and successfully expand their business activities.

Dr. Truong Van Phuoc, former Acting Chairman of the National Financial Supervisory Commission, stated that such low deposit interest rates are a valuable chance for banks to decrease loan interest rates for stronger credit growth, along with the global economic recovery. A low loan interest rate and a high demand for capital to serve manufacturing and trading activities will obviously aid in the increase in the credit growth rate this year to reach the target of 14-15 percent from the third quarter.

HCMC develops Can Gio offshore wind energy

The HCMC Union of Science and Technology Associations and the Institute for Regional and Urban Studies held a conference on the Can Gio Offshore Wind project in the city on April 4.

Mr. Dang Quoc Toan, a representative of the Asia Petroleum Energy Corporation said that the Can Gio offshore wind power project with a capacity of 6,000 MW covers an area of around 325.123 hectares in the outlying coastal district of Can Gio. The seaside project is divided into four investment phases from 2025 to 2040, reducing over 200 million metric tons of CO2 emissions during its life cycle.

The offshore wind power plant will supply clean electricity and connect to the national 500kV power grid system via the Da Phuoc electricity station. It will also produce green hydrogen and ammonia and provide clean electricity for the high-speed rail line of the HCMC - Can Tho railway project. Additionally, the project will supply electricity and green hydrogen to urban areas, industrial zones, and vehicles to reduce carbon emissions.

The Can Gio offshore wind power project will create tens of thousands of jobs throughout its lifecycle and generate billions of dollars for domestic contractors, contributing to the carbon neutrality strategy of HCMC in particular and the country in general by 2050.

Vietnam among top investment destinations for SEA investors

In most Southeast Asian markets, over half of the companies surveyed said they would choose Vietnam as a new market for business expansion, according to the ASEAN Business Sentiment report recently released by HSBC.

The survey, conducted by the bank in the six largest markets, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, involved over 600 companies with annual revenues of at least US$150 million.

The results show that the top three neighboring countries whose companies are keen to expand their operations in Vietnam are Thailand (66%), Malaysia (58%), and Indonesia (55%). Thailand is also in the top three countries whose companies are confident in their ability to develop business in Vietnam, with 93%, trailing behind local companies (98%) and those from Singapore (94%).

Thailand continues to be a significant contributor to Vietnam's FDI story, said Ahmed Yeganeh, head of Wholesale Banking at HSBC Vietnam.

According to the statistics of the Foreign Investment Agency, by the end of the first quarter of 2024, Thailand was the ninth largest investor in Vietnam, pouring in a total of over $14 billion, almost $1 billion more than Malaysia. In the Southeast Asian region, Singapore is the largest investor, with $77 billion, and the second largest globally. Other neighbors, such as Indonesia and the Philippines, each invested over $600 million in Vietnam by the end of last year.

From last year until now, Thai investors have announced plans worth hundreds to billions of USD to strengthen their operations in Vietnam. In August 2023, Kasikornbank (KBank) - Thailand's second-largest bank, announced its intention to invest over $1 billion in Vietnam by 2027.

Just at the end of February, the fourth-largest Thai bank, The Siam Commercial Bank Public Company (SCB), reported that it had acquired the entire capital of Home Credit Vietnam for $880 million.

In the manufacturing sector, Thailand’s Siam Cement Group (SCG) has confirmed the commencement of operations at the Long Son Petrochemicals Complex (LSP) and is in the machine testing phase. This first integrated petrochemical complex in Vietnam is expected to produce 1.35 million tons of olefins and 1.4 million tons of polyolefins annually, providing raw materials for the plastics industry.

Companies in Southeast Asia, not only Thailand, generally prioritize neighboring countries for business expansion due to geographical advantages and cultural similarities. This year's HSBC survey shows that 87% prefer to invest within the bloc, compared with  69% outside the bloc. At the same time, 67% believe that intra-bloc trade will thrive, more than double the optimism for extra-bloc trade. When it comes to attracting intra-bloc FDI flows, Vietnam's 16 free trade agreements (FTAs), strong consumer market growth, and a digital economy on the rise make it attractive to neighboring partners.

Last year, Vietnam attracted $36.61 billion in FDI, up over 32% from 2023 and a record high for the 2018-2023 period.

In a challenging year for the global economy, this figure continues to demonstrate Vietnam's importance as a manufacturing hub, commented Ahmed Yeganeh.

However, he believed that alongside infrastructure, the lag in labor productivity compared to other Southeast Asian markets is something investors are concerned about when looking at Vietnam. One of the top things Vietnam needs to do to move up the ladder in the supply chain is to improve labor productivity, which will require investment in people and technology, noted Ahmed Yeganeh.

US issues safeguard investigation questionnaire into Vietnamese polyester staple

The United States International Trade Commission (USITC) has issued a safeguard investigation questionnaire regarding the import of fine denier polyester staple fibre from Vietnam.

The questionnaire was sent to both manufacturers and exporters of the product into the US market to determine whether the import of the investigated products causes serious damage to the local manufacturing industry or not.

The deadline for submitting the questionnaire is April 17 as the USITC will provide specific instructions on how to submit responses on the final page of the questionnaire.
 
USITC data indicates that in the 2021 - 2023 period the export turnover of investigated products from Vietnam to the US is approximately US$5.9 million, accounting for 3% of the total import market share to the this market. 

The USITC is expected to issue a damage conclusion on July 9 and will report to the President for consideration on August 26. 

In 2017 the US Department of Commerce (DOC) announced the initiation of anti-dumping and countervailing duty investigations on the import of fine denier polyester staple fibre from China, India, the Republic of Korea, Taiwan (China) and Vietnam.

These investigations are based on petitions filed by DAK Americas LLC; Nan Ya Plastics Corporation, America; and Auriga Polymers on May 31, 2017. 

Later, Vietnam was excluded from the scope of investigation at the request of the plaintiff. Currently, products from the mentioned- above countries\ (except Vietnam) are still subject to the US’ anti-dumping or anti-subsidy taxes.

Car imports see strong recovery in March

Import turnover of completely built-up (CBU) cars in March increased by 55.4 per cent in volume and 41.4 per cent in value compared to the previous month.

A preliminary report from the General Statistics Office (GSO) said that Việt Nam imported about 15,000 CBU cars in March with a value of US$287 million.

However, this import decreased slightly by 1.7 per cent in volume and 18.8 per cent in value compared to the figures in March 2023.

The strong recovery in CBU car import in March was due to the car import in February falling sharply when businesses stopped all import-export activities during the seven-day Tết (Lunar New Year) holiday.

Those numbers in February reached 9,650 units in volume and $203 million in value.

Thus, CBU car import turnover in March had a strong recovery despite the market situation not showing clear positive signals.

Positive signals from the economic recovery are bringing back higher expectations of domestic car demand.

The CBU car import is expected to continuously recover in the second quarter of 2024.

After the Tết holiday, the Vietnamese auto market welcomed many new car models, mainly imported cars.

GSO also reported that the total import of CBU cars in the first three months of 2024 was estimated at 31,452 units worth $632 million, down 25.1 per cent in volume and 31.7 per cent in value year on year.

This was still a very low turnover compared to 2023, before the market fell into a period of deep decline in demand. 

Oil stocks see bright prospect amid rising prices

Current rallies in the global oil market, which are likely to push prices to higher levels than expected, are seen as a positive driver for domestic oil and gas stocks.

The Mercantile Exchange of Vietnam (MXV) reported that natural gas rose over 4 per cent in the first trading day of April, making it the top-performing commodity in the market.

Meanwhile, oil prices maintained their upward momentum, reaching the highest level in the past five months, as signals pointed to tighter supplies.

On Thursday, Brent futures for June hovered at a five-month high, trading at US$89.19 a barrel.

According to a survey conducted by Reuters, the oil production of the Organisation of the Petroleum Exporting Countries (OPEC) decreased by 50,000 barrels per day in March compared to February, resulting in a daily output of 26.42 million barrels.

The largest reduction in production came from Iraq and Nigeria. Nigeria saw a substantial decline in exports to meet the domestic demand for the Dangote oil refinery.

Top oil exporter Saudi Arabia may also raise the official selling price (OSP) for flagship Arab Light crude in May, Reuters reported. This reflects the shortage of supply in the market.

On the other hand, several positive macroeconomic signals are driving purchasing momentum in the crude oil market.

The National Bureau of Statistics of China recently said that China’s manufacturing Purchasing Managers' Index (PMI) was 50.8 in March, bouncing back to the expansion zone from 49.1 in February. This marked the first expansion in factory operations in China in the past five months.

Similarly, the Institute for Supply Management (ISM) report showed that the US Manufacturing PMI for March unexpectedly reached 50.3, surpassing the forecasted level of 48.5 and the February reading of 47.8.

These developments contribute to positive expectations regarding energy consumption in the world's two largest economies.

Yuanta Securities Vietnam said that oil prices are likely to continue expanding to higher levels, with a midterm expectation of $95.35 per barrel, as OPEC and its allies, including Russia, also known as OPEC+, kept oil supply policy unchanged on Wednesday amid political tensions in Ukraine.

Based on the monthly chart, Yuanta Vietnam reported that the Oil and Gas Services group index is currently in the third wave of a robust and prolonged upward trend.

The securities firm told investors to prioritise buying and holding positions.

Given their supportive factors and the strong performance of oil and gas companies, analysts see PVDrilling (PVD) and PetroVietnam Technical Services Corporation (PVS) as two noteworthy stocks in the industry.

Particularly, PVS stock has emerged as a promising name after surpassing a remarkable peak on April 1 and continuing its ascent to a new milestone of VNĐ43,700 per share on April 2, following positive oil price news.

The gain also helped PVS's market capitalisation reach a new record of nearly VNĐ20 trillion, up 63 per cent in just one year, making it the most valuable stock on the Hà Nội Stock Exchange (HoSE). The company ended Thursday at VNĐ42,900 a share.

Its strong rallies were driven by the company’s impressive business performance last year.

PVS’s audited consolidated financial statements showed that the company’s net profit increased by 12 per cent year-on-year in 2023 to VNĐ1.06 trillion, the highest since 2016. This marked the first time since the period of 2014-2015 that PVS’s profit has exceeded VNĐ1 trillion.

The long-term focus is on the mega-project Lot B - Ô Môn with a scale of $12 billion. The project is expected to significantly boost the domestic oil and gas industry as well as PVS.

In a recent report, Vietcap Securities (VCSC) increased the target price for PVS shares by an additional 12 per cent to VNĐ47,800 per share.

For PVDrilling, VCBS forecasts a 15 per cent growth in revenue to VNĐ6.75 trillion in 2024 compared to 2023. The net profit after tax is expected to be VNĐ559 billion, reflecting a 3.5 per cent increase. 

69 businesses participate in HCM City market stabilisation programme this year

HCM City's 2024 market stabilisation programme will have 69 enterprises participating, 10 more than last year, according to its People’s Committee.

Most are large ones with reputed brands, high market shares and focal points in supply chains covering many provinces and cities.

The retail businesses among them include Saigon Co.op, Satra, Bách Hóa Xanh, Central Retail, MM Mega Market, AEON, and Fahasa.

Production and distribution companies include Vinamilk, Nutifood, Vissan, Vinh Phát, Ba Huân, San Hà, C.P. Việt Nam, Vissan, Vinamit, Bình Tây, Miliket, Saigon Food, Cholimex, and Intermix.

This year's stabilisation programme will also have new products such as detergents and toiletries, paper towels, biodegradable garbage bags, salt, drinking water, laptops, computers, printers, and school uniforms.

The volume of goods will increase by 4 - 6 per cent from 2024, accounting for 21 - 32 per cent of market share, enough to dominate the market.

This year's programme also enhances support for business premises rentals and transportation costs, according the committee.

It will be combined with programmes to stimulate consumer demand, link up buyers and sellers, sales promotions, and tourism promotions. 

Central Highlands provinces solicit investments at HCM City conference

HCM City and the five Central Highlands provinces of Lâm Đồng, Gia Lai, Kon Tum, Đăk Lăk, and Đăk Nông have listed 558 projects that require investment at a conference held in the city on April 4.

They are soliciting nearly US$50.8 million and are in a wide range of industries such as transport infrastructure, hi-tech agriculture, farm produce processing of, eco-tourism, trading, services, logistics, and healthcare.

They include key projects such as the Tân Phú-Bảo Lộc and Bảo Lộc-Liên Khương expressways in Lâm Đồng, group 1 new urban area in Đắk Nông, a solid waste treatment plant in Đắk Lắk, a high-tech agricultural zone in Gia Lai, and the Dak Lung waterfall eco-tourism resort, mud bath and mineral spring in Kon Tum.

Speaking at the Investment Promotion Conference into the Central Highlands region, Võ Văn Hoan, deputy chairman of the HCM City People’s Committee, said the Central Highlands have long been a strategic economic and political location.

They and the HCM City have signed a cooperation agreement based on taking advantage of each other’s strengths, he said.

He said the city has advantages like location, technical infrastructure, human resources, and scientific and technical foundation and links the southeastern region, Mekong Delta and the Central Highlands, while the Central Highlands has rich forest resources and diverse mineral resources including large reserves of peat, brown coal and kaolin clay.

Its red basalt soil makes it an ideal place for growing commercial crops, and it also has great potential for tourism since it is renowned for its lakes and waterfalls and rich flora and fauna, he added.

Nguyễn Thiên Văn, deputy chairman of the Đắk Lắk Province People’s Committee, said with its abundant and diverse natural resources, a young and dynamic workforce, and a good transport system, Đắk Lắk has great potential for attracting investment in agriculture, processing industry, renewable energy and tourism to further thrive its socio-economic growth.

It has attracted VNĐ33.5 trillion worth of investments in 50 projects by HCM City firms mainly in the renewable energy, hi-tech agriculture, food processing, trading and services, education, forest development.

The province has three projects in which it is soliciting investment at the conference - a solid waste processing plant, a financial-trading service area and the 122.8ha Ea Kao lake golf and villa complex.

Nguyễn Hữu Quế, deputy chairman of the Gia Lai People’s Committee, said the province wants investment in 31 projects in infrastructure, agricultural processing, construction material and consumer goods production, agricuture, forestrry, education, cultural, sports and tourism in 2022-25.

He urged HCM City businesses to pay more attention to investing in his province and the city administration to continue to provide support.

Bùi Thanh Lâm, Deputy Director of Lâm Đồng Province's Department of Planning and Investment, said the province is seeking investment in 217 projects in housing and urban development, water supply and drainage, water treatment, infrastructure, tourism, agriculture, industry, trade, services, culture, tourism, and healthcare.

The Central Highlands leaders promised to improve their provinces’ investment environment and human resource training, offer favourable policies, streamline administrative procedures and speed up digital transformation and green transition.

Besides incentives in line with the Government’s regulations, they are also offering special incentives for investing in disadvantaged areas, they said.

They would meet regularly with investors to address any challenges they might encounter, leaders promised.

Lý Kim Chi, Chairwoman of the Food and Foodstuff Asociation of HCM City, said the provinces should help connect her association's members with farm produce suppliers in their localities so that they can understand each other needs and can enter into partnerships.

She suggested they should support firms who invest in building cold warehouses for agricultural products.

Hoan said following discussions at the conference he saw that “HCM City-based businesses are always interested in and see the Central Highlands as a promising location”.

Đắk Lăk, Đắk Nông and Gia Lai signed MoUs with 11 firms a project each.

The event was organised by the municipal People’s Committee. 

Intense heat triggers tyre blowouts

Vehicles have suffered tyre blowouts from extreme heat when travelling on the Cam Lo-La Son Expressway in the central province of Thua Thien-Hue.

According to the Traffic Police Department, between April 1-4, 12 vehicles suffered tyre bursts on the Cam Lo-La Son Highway as temperatures reached 63 degrees centigrade.

The traffic police blamed the incidents on scorching hot weather. This was made worse by no rest stops on more than 100 kilometres of the road.

The police have worked with the HCM City Highway Project Management Board to assist affected vehicles.

Police distributed flyers that warned drivers about the problem at entry and exit points for the Cam Lo - La Son expressway. The documents instructed people on emergencies to ensure traffic safety along the expressway.

The Cam Lo-La Son Expressway runs through the central provinces of Quang Tri and Thua Thien-Hue.

Drivers can call the hotline at 0949.050.608 for support in emergencies.

Ha Giang man arrested for growing opium

A man in the northern mountainous province of Ha Giang has been arrested for growing over 1,300 opium poppies on his farm.

The Ha Giang Provincial Police Department announced on Thursday that they had detained Lu Cha Sinh, 51, for illegally producing drugs.

Sinh was caught red-handed on April 2 while taking the brown substance from the poppies grown on his corn farm in Yen Minh District.

Police found and confiscated 1,390 poppies and 67.08 grams of the brown substance which is suspected as drugs from his 549-square-metre farm.

Sinh has been detained while police are further investigating the case.

Last year, police in the northern province of Bac Giang also detained a local man after finding 2,154 opium poppies in his garden.

Opium is on the list of forbidden narcotics in Vietnam.

60,000 lobster seeds illegally brought through Danang Airport

Danang City Customs Department announced on Thursday that they have seized 60,000 lobster seeds that had been illegally brought through Danang International Airport.

60,000 lobster seeds are illegally brought through Danang International Airport on April 3. Photo by the Danang City Customs Department.

A report from the department showed that the lobster seeds were kept in two packs of luggage brought by a passenger on Singapore flight VJ970 flight that landed at Danang Airport at 1 pm on April 3.

Authorities checked the luggage and found 60,000 lobster seeds that were estimated to cost over VND5 billion (USD200,240).

The luggage was confiscated while local authorities are investigating the case.

Hanoi airport returns wallet containing thousands of Euro

Noi Bai International Airport in Hanoi said on Friday morning that they returned a wallet which contained personal papers and thousands of Euros to a passenger who left it after a flight to the airport.

According to the airport, a security staff member, Pham Tuan Thanh, found a black wallet in a trolly near Gate A2 in Terminal 2 at 4.20 pm on April 4. He reported it to his team who then checked it and found a passport and EUR8,070 inside.

A male passenger talked to them 30 minutes later and said he had lost his bag in the area. After checking with the passenger, the airport security team returned his wallet.

The passenger thanked the security officers and shared that the money was his savings over the past 10 years working abroad.

Noi Bai security officers warned passengers to carefully check their belongings before leaving the airport, especially during the busy coming holiday period.

Quang Ngai to hold tourism week

The central province of Quang Ngai will organise a tourism week from April 22 to May 5.

Activities will take place in different areas in Quang Ngai, including Ly Son Island.

On April 24, the Hoang Sa Soldier Feast and Commemoration Festival and Tu Linh Boat Racing Festival will be held at An Vinh Village’s Temple on Ly Son Island.

The Exhibition of Maritime and Island Cultural Heritage will take place from April 26 to May 1 at the Hoang Sa-Bac Hai Fleet Exhibition House on Ly Son Island. The event will display documents, maps and publications related to Vietnam's maritime and island sovereignty and the history of Vietnamese maritime and island culture and the Sa Huynh culture.

The Quang Ngai Tourism Week 2024 opening ceremony will take place at Ly Son Square on April 27 evening.

On May 4-5, the province will introduce its outstanding One Commune One Products in Nghia Hanh District.

Quang Ngai will hold the international sailboat racing and stand-up paddle boarding championship at My Khe Beach in Quang Ngai City this year, and an international paragliding competition will be also organised on Ly Son.

The Quang Ngai Department of Culture, Sports, and Tourism has called on various departments, agencies and localities in the province to encourage their staff to tour the province to help boost local tourism.

Quang Ngai served roughly 298,000 visitors in March, up 35 percent against the same period of last year. Of this, foreign arrivals accounted for 7,800, up 3.80 times on-year.

Vietnam, China’s Sichuan promote trade, investment ties

A conference on promoting commerce, investment and trade connectivity between Vietnam and China’s Sichuan province was held in Hanoi on April 5, providing an opportunity to enhance bilateral cooperation and import-export of farm produce, aquatic products, and pharmaceutical materials.

Attending the conference were representatives from 15 Chinese enterprises and 60 Vietnamese firms operating in various sectors such as manufacturing, import-export, agriculture, pharmaceutical materials, food processing, logistics, construction, and investment.

In his opening speech, Deputy Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade Le Hoang Tai described the event as one of the concrete activities to implement Vietnamese and Chinese high-ranking leaders' directions on deepening practical cooperation.

Tai noted economic and trade cooperation between Vietnam and the Chinese province of Sichuan has yet to fully reflect the potential of both sides.

Official statistics showed that last year, trade between the two sides only reached 11 billion USD, accounting for a very modest proportion of the two countries’ total value.

Lei Xuejie, Vice President of the China Council for the Promotion of International Trade Sichuan Council, said the provincial delegation's current visit to Vietnam mainly aims to participate in an international trade fair held in Hanoi, which features over 30 professionally organised sessions covering such fields as electronics, healthcare, food, and biotechnological infrastructure.

Sichuan will continue to enhance related promotion, connectivity, and cooperation based on the two sides’ mutual needs, she said.

Lei noted the conference was an opportunity for both sides to achieve their economic goals./.

Gia Lai seminar explores potential of Halal industry

A seminar took place in the Central Highlands province of Gia Lai on April 5 to explore prospects and solutions to developing the Halal industry in the central and Central Highlands regions.

The event was co-hosted by the Directorate for Standards, Metrology and Quality’s Vietnam Certification Centre (QUACERT), the provincial Department of Science and Technology and the Institute of South Asian, West Asian and African Studies (ISAWAAS) under the Vietnam Academy of Social Sciences.

Presentations focused on the economic and cultural aspects of Halal products and services, export potential for key products from Vietnam's south-central and southeastern regions, Halal certification requirements in Islamic markets, and experiences of organisations already exporting Halal products.

Despite lagging behind regional competitors, Vietnam has advantages to develop a Halal industry, particularly in the central and Central Highlands regions which boast a large-scale production of agricultural products like coffee, rubber, pepper, and fruits - all potential Halal exports.

The Halal industry caters to Muslim consumers by ensuring products and services comply with Islamic law, including food and beverages, tourism, and even aquaculture. However, Gia Lai's current Halal exports are primarily raw or semi-processed agricultural goods.

According to the Halal Development Centre of Malaysia, the global Halal market was valued at 3 trillion USD in 2020 and is projected to reach 5 trillion USD by 2030./.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes