Prime Minister Pham Minh Chinh has signed an official dispatch, urging the acceleration of state budget collection, particularly from land-related sources, in the final month of 2024, aiming to achieve the highest possible state budget revenue, laying a strong foundation for successfully implementing socio-economic tasks for 2025 and the 2026-2030 period.

According to the document dated November 30, the Ministry of Finance will coordinate with relevant forces to direct agencies to enhance revenue management measures and strictly control tax calculation, declaration and payment, ensuring that all tax revenues are correctly and fully collected according to legal regulations, thus preventing losses for the state budget.

Meanwhile, the Ministry of Natural Resources and Environment will work with relevant agencies to continue disseminating the Land Law in localities, closely monitor the implementation of the law nationwide, review difficulties and obstacles to the work, and report any issues beyond their jurisdiction.

The ministry will also urge localities to promptly issue documents detailing the implementation of the Land Law and develop and make public new land price lists to facilitate land auction and land allocation.

It is asked to strengthen inspection, examination, and handling of violations of state management agencies and land users in localities.

The Ministry of Construction is tasked with reviewing, urging, and guiding the removal of difficulties and obstacles to real estate projects, especially those with good liquidity and others on commercial and social housing, and new urban areas, towards boosting the real estate market, attracting many large investment projects, thus increasing revenues for the state budget.

Meanwhile, the Ministry of Planning and Investment shall coordinate with relevant agencies to continue settling institutional obstacles; pushing ahead with the construction of important transport infrastructure projects, key national projects, and inter-regional connectivity projects and putting them into operation as scheduled.

The State Bank of Vietnam will coordinate with relevant agencies to effectively implement the Official Dispatch No. 122/CD-TTg on strengthening credit management solutions in 2024.

It is responsible for directing commercial banks to continue cutting administrative procedures that are no longer suitable and creating favourable conditions for businesses in the real estate sector and homebuyers to access credit, towards promoting the market’s sustainable development and generating more revenues for the state budget.

Chairpersons of People's Committees of provinces and centrally-run cities are required to speed up both master and detailed planning, serving as the foundation for effectively, appropriately, and harmoniously implementing real estate projects.

Ministries, ministerial-level agencies, agencies under the Government, and localities must closely cooperate with relevant ministries and agencies, and the People's Committees of provinces and cities to effectively materialise the Government's directives and official dispatches on socio-economic development, state budget management, and developing a safe, healthy, and sustainable property market; and speed up the disbursement of public investment capital for infrastructure projects and those under their management.

Deputy Prime Minister Ho Duc Phoc has been assigned to direct and supervise the implementation of this official dispatch, and report any issues emerging beyond his authority to the PM./.

Wood industry aims at US$16 billion in export earnings this year

The wood industry of Vietnam is likely to rake in US$16 billion from exports this year, far exceeding the initial target of US$14.2 billion set by the Ministry of Agriculture and Rural Development.

In the initial 10 months of this year, the export turnover of Vietnam’s wood industry reached US$13.2 billion, an increase of nearly 21% compared to the same period last year.

The United States was a major consumer of Vietnamese wood and wood products, accounting for more than 55% of the industry’s total export value. The market has high demand for both premium and affordable products, creating opportunities for small businesses to find market segments for their goods in the US.

Do Xuan Lap, president of the Vietnam Timber and Forest Products Association (VIFORES), shared that alongside the increasing market demand, wood businesses should proactively switch to environmentally friendly materials and recycled resources, which not only save costs but also meet new customer requirements.

“Building a strong market is essential for boosting export sales, especially in promoting and connecting markets. Organizing wood industry trade fairs creates business opportunities and allows Vietnamese companies to connect with international customers. If exports reach US$3 billion in the last two months of the year, the wood industry will achieve approximately US$16 billion in export turnover for the entire year,” said Lap.

Virtual booths open new doors for Vietnamese farm produce in China

The Agricultural Trade Promotion Centre (Agritrade) under the Ministry of Agriculture and Rural Development has officially launched a booth for Vietnamese agricultural products on Chinese e-commerce platforms and social media, marking a significant step in expanding market access.

The virtual booth is operated by China’s Sunwah Group (Hong Kong) under a cooperative agreement signed with the centre in June 2023. The initiative aims to enhance trade promotion and provide Vietnamese farm produce with direct access to the lucrative Chinese market.

Agritrade director Nguyen Minh Tien said that initial trials promoting products such as cashew nuts, edible bird's nests, and rice on Chinese e-commerce platforms garnered significant attention and orders from consumers.

“Building on this success, we are expanding Vietnamese products’ presence on popular platforms and social media networks in China,” he said.

Sunwah Gelafood has registered a Vietnamese farm produce stall on TikTok and a best-selling Vietnamese goods stall on Kuaishou. The company also plans to extend to platforms like Taobao, JD.com, and Xiaohongshu.

The initiative employs live streaming and short video broadcasts to align with the "product-seeking consumers" model, which prioritises engaging consumers through dynamic digital content.

According to Qi Ping, general director of Sunwah Gelafood Supply Chain Management Company (Henan, China), products featured on the booth must comply with China’s cross-border import regulations, meet Vietnamese quality standards, and have independent branding with intellectual property rights. Businesses must also obtain a registration code in China and pass relevant certifications before participating.

“After testing initial orders, businesses can sign agreements for official participation and use trial sales results to plan production and export shipments to Sunwah Gelafood’s bonded warehouse in Luoyang, which facilitates live-streaming sales sessions,” Qi said.

To support businesses, training will be offered on video production, working with Key Opinion Leaders (KOLs), packaging, market trends, and warehouse management. Like Amazon and similar platforms, Sunwah Gelafood provides end-to-end services, from product storage to sales, while charging related fees.

China has been Vietnam’s largest trading partner for many years. By the end of the third quarter this year, Vietnam’s exports to China reached US$44.4 billion, marking a 2.94% increase year-on-year, according to the General Department of Customs.

However, the agricultural sector continues to face challenges, including high input costs, fluctuating logistics expenses, shifting import policies, and volatile bank interest rates.

Agritrade director Tiến said that businesses should seize opportunities like e-commerce to sustain production and export activities. Currently, most Vietnamese agricultural exports to China were concentrated in the southern provinces of Yunnan, Guangxi and Guangdong. Expanding to e-commerce platforms would open doors to Chinese inland provinces and major urban centres.

“E-commerce accounts for 33 per cent of China’s retail market and is growing rapidly. If Vietnamese businesses aim to increase market share and boost exports, they must leverage these platforms,” Tien said.

E-commerce offers a direct business-to-consumer (B2C) channel that supports brand building for Vietnamese agricultural products.

Nguyen Thi Lan Huong, chairwoman of the Viet Phuc Production and Import-Export JSC, said, “E-commerce creates an effective channel to support exporters, especially in building national agricultural brands.”

According to statistics from the Alibaba platform, the number of Vietnamese products listed increased by 24%, reflecting growing demand and market presence.

Le Trung Dung, a representative of the E-Commerce and Digital Economy Agency under the Ministry of Industry and Trade, noted how e-commerce had transformed international trade. “It shortens the distance to markets, bypassing traditional barriers like language and geography,” he said.

Nguyen Quang Duy, CEO of DT Group, highlighted two critical factors for success on e-commerce platforms: “First, product quality is essential to attract customers. Equally important are modern, trend-driven, and environmentally friendly packaging."

According to Sunwah Gelafood, products like coffee, edible bird's nests, and processed or dried fruits are particularly well-suited for sale on Chinese e-commerce platforms. These items will be prioritised for extensive promotion in 2025, aiming to reach broader consumer bases across China’s provinces and cities.

However, Sunwah General Director Qi suggested improvements in packaging and flavour diversity to cater to younger online consumers, who dominate the e-commerce space.

Agritrade director Tien said that Vietnamese businesses exporting farm produce through traditional distributors often relied on partners to repackage goods for Chinese consumers. “When exporting directly, businesses need to invest in packaging and branding that align with local preferences,” he said.

The initial phase of entering China’s e-commerce market could be challenging, Tiến acknowledged. He advised businesses to collaborate with Vietnamese and Chinese authorities and partner with KOLs, whose substantial follower bases could provide strategic advantages in reaching consumers.

As Vietnamese farm produce gains traction on Chinese e-commerce platforms, the initiative represents a significant leap forward in modernising Vietnam’s export approach.

By leveraging digital tools and targeting consumer trends, Vietnamese businesses have the potential to expand their reach, enhance brand recognition, and contribute to the growth of the country’s agricultural sector.

Vietnam and Singapore seek to create breakthrough in economic cooperation

Economic and trade cooperation has always been a bright spot in the relationship between Vietnam and Singapore, and the two countries are seeking ways to promote this relationship in a sustainable manner.

The Vietnam - Singapore Industrial Park (VSIP) - a success story in economic cooperation between Vietnam and Singapore
Since 1996, Singapore has always been one of Vietnam’s largest trading partners, with two-way trade increasing year by year, and direct investment from Singapore into Vietnam growing consistently. The Vietnam-Singapore Industrial Park (VSIP) has become a symbol of the Vietnam-Singapore partnership, expanding into areas such as green industries, high-tech, and innovation.

Key ASEAN members, both Vietnam and Singapore play significant roles in multilateral forums and international affairs, such as the United Nations, ASEAN, Asia-Pacific Economic Cooperation (APEC), Asia-Europe Meeting (ASEM), and World Trade Organization (WTO).

Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, noted that while Singapore is a relatively small consumer market, it is home to many multinational companies and serves as a global hub for information, trade, finance, and logistics. In addition, it is a key international air transport hub and an important gateway into Asia, particularly Southeast Asia, including Vietnam.

Statistics show in 2023, Singapore was Vietnam’s fourth largest trading partner in ASEAN after Thailand, Indonesia, and Malaysia, and the 14th largest trading partner globally. In return, the latter was the former’s fourth largest trading partner in ASEAN and the 11th largest globally.

Two-way trade turnover between Vietnam and Singapore hit US$9.1 billion in 2023, and US$9.6 billion in the past 11 months of 2024, a 17.5% increase compared to the same period last year.

By product group, the top category is processed and manufactured goods, which make up 76% of Vietnam’s total exports to Singapore, followed by fuels and minerals (6%), and agricultural, fishery products, and construction materials (5% each). This highlights that processed and manufactured goods are the main export items to Singapore, including computers, components, machinery, equipment, and transport vehicles.

Trade experts pointed out that despite strong political and diplomatic relations, business cooperation has not yet fully matched the two countries’ potential. For instance, in the agriculture and seafood sectors, Vietnam has abundant agricultural and food resources, while Singapore imports over 90% of its food. However, agricultural exports from Vietnam to Singapore account for only 5% of the total exports, with some products such as chicken and eggs still not allowed to be imported into the island state. Furthermore, challenges faced by businesses include stringent food safety, technical standards, environmental protection regulations, and other import requirements in Singapore.

Moreover, Singaporean consumers have high expectations regarding product quality, labelling, branding, and reputation, which means many Vietnamese products still struggle with consistency, variety, and branding. In addition, competition in the Singapore market is fierce, with competitors coming from Thailand, India, and Japan.

Yet, trade experts said, these are favourable factors that promote business cooperation between Vietnam and Singapore, due to the two countries’ good political and diplomatic relations, close geographical proximity, and similar cultural environments within Southeast Asia, not to mention they both are members of many free trade agreements (FTAs). Additionally, every year, many business delegations from Singapore are supported by the Vietnamese Trade Office to visit Vietnam to explore market opportunities and establish partnerships.

During a recent meeting with Singapore’s Ambassador to Vietnam Jaya Ratnam, Deputy Minister of Industry and Trade Nguyen Hoang Long emphasized that Singapore is a leading economic, trade, and investment partner for Vietnam in the region and globally. Long expressed hope that Singapore would continue to support Vietnam in areas like the digital economy, green growth, and sustainable development, particularly in helping Vietnam achieve its net zero emissions target by 2050.

Ambassador Ratnam confirmed Singapore’s willingness to collaborate and assist Vietnam in training its workforce in these sectors and others on request from Vietnam.

To gain a firm foothold in the Singaporean market, Thang underscored the importance for businesses to thoroughly research the market, understand changes in import policies, and develop export strategies. He also noted that Singapore is becoming more cautious in its trade policies and is diversifying its trade partners, presenting an opportunity for businesses to penetrate deeper into the market.

He also suggested that businesses renovate production technologies and improve product quality, packaging, and branding to meet Singapore’s high standards, particularly in the growing green consumption sector. Furthermore, businesses were advised to actively engage in trade connections, expand partnerships, and leverage e-commerce to market products, build a strong relationship with consumers, and gain flexibility in adapting to market demands.

Vietnam, RoK expand tourism cooperation

The Asia Tourism Development Institute (ATI) and the Korea Tourism Management Association organised a conference in Hanoi on November 30 to promote tourism, trade, and education cooperation between Vietnam and the Republic of Korea (RoK).

Speaking at the event, head of the tourism promotion division at the Vietnam National Authority of Tourism Nguyen Quy Phuong said that in 2024, the RoK is the largest source of international tourists for Vietnam. In the first ten months of this year, the Southeast Asian nation welcomed 3.7 million Korean visitors, accounting for 26.4% of total international arrivals. Meanwhile, the Notheast Asian country is also a favourite destination of many Vietnamese travellers.

Phuong called on the Korean side to enhance tourism exchanges by implementing digital marketing campaigns that highlight the unique attractions of both countries. He also recommended improving aviation connectivity to foster bilateral tourism, simplifying visa granting procedures, exploring new forms of tourism, and boosting educational and youth exchange programmes between the two countries.

Ruy In Pyong, President of the Korean association, emphasised the necessity of collaboration between tourism entities and academic institutions to foster domestic and international tourism, and that his association is committed to actively supporting Vietnam’s tourism sector through this cooperation.

He added the RoK will actively introduce Vietnam’s attractive tourism resources to both domestic and international travellers while seeking further collaboration to enhance cultural exchanges and tourism.

Kim Hyun, Director of the Tourism Department of the RoK's Chungbuk province, noted Vietnam ranks first in Southeast Asia and fourth globally in terms of the number of international visitors to Chungbuk.

He said his department will continue to strengthen partnerships with Vietnamese tourism units by developing joint tourism products, organising international conferences, and facilitating cultural and artistic exchanges.

At the conference, the ATI signed memoranda of understanding on cooperation with the Korea Tourism Management Association, the Chungbuk provincial Tourism Department, and the Tourism Department of Sunchang county of the RoK's North Jeolla province./.

Vietnam Online Friday 2024 launched

The Ministry of Industry and Trade launched Vietnam Online Friday 2024 on November 29 evening aimed at boosting e-commerce and providing consumers with the opportunity to purchase quality products at discounted prices.

This year’s online shopping event, part of the “National E-Commerce Week” programme, is scheduled to last from 00:00 on November 30 to 12:00 on December 1. It has attracted the participation of more than 30 provinces and cities, along with thousands of businesses, and major e-commerce platforms such as Shopee, Lazada, TikTok Shop, and Sendo.

Key activities include livestreams showcasing regional specialties, a voucher festival, and a series of attractive promotions, offering consumers a rich and engaging shopping experience./.

Driving economic growth through port development

Quang Tri province has been focusing on attracting investments in its port infrastructure, aiming to establish itself as a significant logistics and trade hub in the central region and countries along the East-West Economic Corridor (EWEC) by 2030.

Quang Tri’s strategic location positions it as a vital connection point in the central region and a gateway to the East Sea for EWEC nations. This geographical advantage underpins its role as a point for exchange and cooperation between the country's localities and nations in in the Greater Mekong Subregion and a bridge connecting north-central and and central regions.

At the heart of this vision is the My Thuy deep-water port. The My Thuy port project phase 1 has been under construction in Hai Lang district's Hai An commune in the Southeast Quang Tri economic zone since the end of March. Phase 1 is expected to be completed by the end of 2025 with two to four wharfs to be completed. The total length of the wharf edge is 1,300 m, width is 50 m plus the technical infrastructure system and auxiliary works for ships with a tonnage of up to 100,000 tonnes docking at the port. The My Thuy port area is receiving the attention of many businesses investing in logistics and goods transshipment.

According to the provincial Department of Planning and Investment, there is huge potential for import of coal from Laos via the La Lay international border gate. To increase its coal import capability, Quang Tri is carrying out projects infrastructure projects connecting the La Lay international border gate to the My Thuy deep-water port, such as a 78km National Highway 15D.

Additionally, a conveyor system capable of transporting up to 30 million tonnes of coal annually from Laos to the port is under development.

The My Thuy port will play a crucial role in supporting the Hai Lang LNG Power Centre, a 54 trillion VND project with a projected capacity of 4,500 MW. Phase 1, scheduled to begin operations in 2029, includes LNG storage facilities capable of accommodating vessels carrying 170,000-226,000 cubic meters of gas.

Plans also involve converting an existing coal power plant into a gas-fired facility, aligning with Quang Tri’s energy transition initiatives.

In addition, Quang Tri hosts 32 wood chip processing facilities that produce over 2 million tonnes annually, with significant export potential to China and other markets. Businesses anticipate that the completion of the My Thuy port will streamline export operations and lower logistics costs.

The My Thuy project will unfold in three phases through 2036, with a total investment exceeding 14 trillion VND. Upon completion, the 10-berth facility will handle ships of up to 100,000 tonnes.

Other regional ports, such as the Cua Viet port and CFG Nam Cua Viet facility, are also undergoing upgrades to enhance regional logistics capabilities. The Cua Viet port, currently capable of handling over 1.1 million tonnes of cargo annually, is receiving infrastructure investments to expand its capacity. The CFG Nam Cua Viet facility, designed to handle ships of 3,000-5,000 tonnes, will process 1-1.4 million tonnes of cargo annually after its anticipated completion in 2025.

Quang Tri’s strategic investments in port development aim to strengthen trade flows along the EWEC, attract domestic and foreign investments, and drive industrial growth. With enhanced infrastructure and a focus on sustainable energy, the province is poised to become a cornerstone of Vietnam’s economic landscape./.

Top 10 reputable logistics companies in 2024 announced

The Vietnam Report JSC on November 29 announced the list of top 10 reputable logistics companies for 2024.

A ceremony to honour the companies is scheduled for next January in Hanoi.

Vietnam Report named top ten reputable logistics businesses in the industry group of international logistics services for third and fourth parties, warehousing, and freight forwarding; top ten reputable logistics businesses in the freight transport industry group; and top ten reputable logistics businesses in the industrial groups of port exploitation, and express delivery and last-mile delivery.

The selections are based on three main criteria namely financial capacity as reflected in the most recent financial statements; media reputation assessed using the Media Coding method, which involves coding articles about the company across influential media channels; and results from surveys of research subjects and stakeholders conducted in November 2024.

Vu Dang Vinh, General Director of Vietnam Report, said that in 2024, Vietnam's logistics industry has witnessed a strong recovery thanks to export growth, the Government’s supporting measures, and improvements in global supply chains.

Vietnam's exports grew by 14.9% in the first ten months of 2024, reaching 335.6 billion USD after a decline in 2023. Key export sectors such as electronics, textiles, and agricultural products continue to make significant contributions to the overall export turnover. Notably, exports to the US - Vietnam's largest market, approached 100 billion USD in the past ten months, with a trade surplus exceeding 86 billion USD, a strong increase of 26.9% compared to the same period last year.

He said this positive outcome is partly due to the shift of production from China to Vietnam in the context of diversifying global supply chains.

The recovery in exports has led to positive growth in the logistics sector. The total volume of goods transported through seaports is estimated to increase by about 14% in the first ten months of 2024, reaching over 570 million tonnes; of that, dry cargo and containers made up a significant proportion, with handling volumes exceeding 321 million tonnes and 191 million tonnes, respectively.

Additionally, the expansion of industrial zones, which play a central role in the export supply chain, has also contributed to the growing demand for logistics, Vinh said./.

Vietnam Home & Garden Expo 2024 to take place in HCM City in early December

The Vietnam Home & Garden Expo 2024 will take place at the Saigon Exhibition and Convention Centre in Ho Chi Minh City from December 5-7, said the Vietnam National Trade Fair and Advertising Company (VINEXAD).

The international trade promotion expo is expected to feature more than 1,000 booths of 800 businesses from 20 countries and territories globally, and attract about 15,000 visitors.

It will showcase a broad range of products across interior and exterior design, including solutions for living rooms, dining areas, kitchens, bedrooms, and bathrooms, blending aesthetics with functionality.

Materials such as wood, bamboo, stone, ceramics, tiles, and gypsum will be on display, along with products for flooring, walls, and decorative construction, catering to all design needs.

Introducing unique solutions to gardens, vertical walls, staircases, and decorative miniatures, the expo also incorporates elements such as pools, aquariums, fountains, and scenic ponds to create harmonious and luxurious spaces.

Visitors to the expo have a chance to learn more about durable outdoor materials like composite wood, plastic roofing sheets, and natural stone, which combine weather resistance with aesthetics, suitable for various outdoor designs, from private gardens to public projects.

According to VINEXAD, the expo serves as a dynamic platform for businesses to connect, expand partnerships, and exchange expertise in related fields through seminars and design competitions./.

Event seeks to foster Vietnam-Poland economic cooperation

A number of topics aimed at strengthening trade between Poland and Vietnam were discussed at a recent “Business Mixer” event in Ho Chi Minh City.

Speakers at the November 28 event organised by the Port of Gdańsk, Poland’s largest, said the bilateral economic partnership has been evolving rapidly.

Poland’s exports to Vietnam grew by nearly 20% last year and it remained a crucial import partner for Vietnam, with the volume of Vietnamese imports into Poland growing at a remarkable rate.

Currently, Vietnam is Poland's largest trade partner in Southeast Asia.

Dorota Pyć, president of the Port of Gdansk Authority, said: “Trade between the two countries reached new heights last year, with potential for even greater growth. We look to enhance our cooperation, offering Vietnamese companies new opportunities to reach the European market via the Port of Gdańsk.

“Given our respective strategic locations, the Port of Gdańsk can serve as an ideal entry point for Vietnamese goods into Europe and as a gateway for Polish and European products to Vietnam.”

She said this partnership would not only facilitate trade but also improve logistics efficiency, reduce transit times and ensure that businesses stay competitive in an increasingly demanding global market.

“Today’s global economy requires strong partnerships, shared values, and a commitment to progress.

“The Port of Gdańsk stands ready to be Vietnam’s partner in growth, offering not only a gateway to European markets but also a trusted, innovative, and future-oriented ally.”

Paweł Krężel, director of maritime economy and inland navigation at the Polish Ministry of Infrastructure, said Vietnam is becoming a key player in the global economy, rapidly expanding its markets, and ranking as one of Southeast Asia's fastest-growing economies.

“This is a tremendous opportunity for Polish businesses to establish and expand their presence in this dynamic market.”

He said the 2020 EU-Vietnam Free Trade Agreement, which aims to eliminate over 99% of customs duties on goods traded between the two sides, further incentivises Polish and Vietnamese entrepreneurs to expand trade.

“This is an ideal moment for Polish entrepreneurs who have yet to enter the Vietnamese market to take a closer look and consider exploring the possibilities on a broader scale.”

On the other hand, with growing interest among Polish consumers and businesses in Vietnamese products, the growth of Vietnamese imports into Poland seems likely to continue, enriching the variety of goods and services exchanged between the two nations, he added.

Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry’s HCM City branch, said: “Vietnam and Poland are both coastal nations. Therefore, the development of seaport infrastructure and maritime transportation is crucial for their economic growth and for promoting bilateral trade.”

Many Vietnamese logistics companies are establishing freight routes between Vietnam and Poland, but the current level of development remains far below the bilateral potential, he said.

The event offers an excellent opportunity for businesses in the two countries in seaport infrastructure, logistics, freight forwarding, and import-export to obtain market information, discuss shared interests and seek new collaboration opportunities, he added./.

Quang Ninh province lures over 2 billion USD of FDI in 11 months

The northern province of Quang Ninh has attracted over 2 billion USD in foreign direct investment (FDI) so far this year, placing it among Vietnam’s top-performing localities.

This includes 29 newly licensed projects with a total registered capital of 1.65 billion USD and 20 projects with adjusted capital increases totaling 217.4 million USD. Additionally, domestic non-budget investment has reached 28.3 trillion VND (1.1 billion USD), achieving 46% of the province’s annual target.

Quang Ninh has set an ambitious goal to attract 3 billion USD in FDI by the end of the year.

To achieve this target, the province has actively pursued investment promotion activities, welcoming delegations from key investors. These include a joint venture between the YNC Joint Stock Company and the Greenlink Da Nang Joint Stock Company, as well as B. Grimm Power, which is exploring a wind power project.

Quang Ninh has collaborated with delegations from Fujian province in China and the Korean Greyhound Association (KGA) to evaluate projects, including the development of an international sports and entertainment complex in Ha Long.

At a meeting organised by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi, Quang Ninh representatives introduced the province’s investment environment to investors from the Republic of Korea. They also provided detailed information on investment opportunities to members of the Korea Chamber of Commerce and Industry (KCCI) and leading enterprises from Seoul and Vietnam.

The province is updating its list of investment attraction projects through 2025 and drafting a new catalog of FDI promotion projects for the 2024–2030 period. Quang Ninh is also collaborating with local business associations to strengthen investment promotion, improve its business environment, and enhance its rankings in the Provincial Competitiveness Index (PCI) and District and Department Competitiveness Index (DDCI) in 2024.

Quang Ninh aims to achieve double-digit economic growth for the 10th consecutive year in 2024.

Secretary of the provincial Party Committee Vu Dai Thang has urged all sectors to make concerted efforts to obtain the highest possible results across all 2024 targets. Key focus areas include coal mining and industries with untapped potential.

Looking toward 2025, the province plans to align its economic and social development strategies with the central government’s directives, prioritising economic growth, cultural development, and securing national defence.

Quang Ninh will concentrate on resolving bottlenecks in major projects, advancing digital transformation, and revising the special mechanisms and policies of the Van Don Economic Zone.

Since the beginning of this year, 1,501 new enterprises have been established in Quang Ninh, marking an 8.1% year-on-year increase, with registered capital totaling 16.7 trillion VND (682 million USD). Additionally, 638 businesses have resumed operations, bringing the total number of active enterprises in the province to 11,745./.

"Proud of Vietnamese Agricultural Products" programme kicks off

The "Proud of Vietnamese Agricultural Products" programme was launched in Hanoi on November 28, aiming to promote local agricultural products and affirm their quality.

The four-day event is co-organised by the Hanoi Promotion Agency (HPA) and the People’s Committee of Long Bien district.

Speaking at the opening ceremony, Bui Duy Quang, Deputy Director of HPA, highlighted that the event, first held in 2022, is designed to boost market reach of agricultural products, One Commune One Product (OCOP) items, and other high-quality rural products from Hanoi and other regions. He noted that the programme helps stimulate production, connects agricultural and OCOP products nationwide with Hanoi consumers, and links producers with the city’s distribution channels.

It also serves as a platform for agricultural producers and businesses to showcase their products, emphasise local strengths, and promote Vietnamese agricultural brands in both domestic and international markets.

Nguyen Thi Thanh Thuy, Director of Hoa Binh province’s Centre for Investment, Trade, and Tourism Promotion, underscored the programme’s role in fostering collaboration, enhancing trade connections, and introducing agricultural products, OCOP items, and specialties from Hoa Binh to Hanoi residents and visitors. She noted that the event adds a vibrant touch to the 2024 year-end shopping season while effectively supporting the "Vietnamese people prioritise Vietnamese goods" campaign.

The programme features 120 booths showcasing products from around 150 businesses, cooperatives, and OCOP entities from 32 provinces and cities across the country.

In addition to showcasing products and promote sales, there will be check-in promotional programmes, on-site product tests and art performances./.

Hai Duong exports grapefruit to EU

The northern province of Hai Duong on November 28 held a ceremony to announce the first shipment of its Hoa Binh grapefuits to the EU market by sea for the 2024 export season.

The shipment includes Tan Lac red-fleshed grapefruits and green-skinned ones grown in Hoa Binh. Cultivated under stringent technical and food safety standards, they were harvested, processed, and packaged at a facility in Hai Duong to meet EU import requirements.

Nguyen Ngoc Nam, Deputy General Director of FUSA-Eco Hoa Binh, said in 2022, the company exported 120 tonnes, but due to unfavourable weather conditions in 2024, export volume is estimated at 60 tonnes. Yet, international consumers have praised the high quality of Hoa Binh grapefruits.

In the comming time, the company plans to tap into the Middle Eastern market. It is also committed to long-term collaboration with Hoa Binh’s agricultural sector to expand the global reach of local produce.

To enhance export value, FUSA-Eco Hoa Binh has called on local authorities to assist farmers in improving product quality, acquiring additional plantation codes, and adhering to strict cultivation standards to ensure superior fruit quality and appearance.

Hoa Binh boasts 10,240 hectares of citrus fruits, with 5,400 hectares dedicated to grapefruit. Major growing areas include Luong Son, Tan Lac, and Yen Thuy districts, yielding an estimated 109,000 tons annually. The province has issued 35 export plantation codes to facilitate access to international markets.

Nguyen Hong Yen, head of the Crop Production and Plant Protection Sub-Department, noted that 2024 marks a new milestone with the export of Tan Lac red-fleshed and green-skinned grapefruits, following the success of Dien grapefruit in previous years. This year’s export volume is projected at 250-300 tonnes, targeting markets such as the EU, the US, and the UK. Modest in quantity, yet these exports lay a groundwork for expanding domestic and international market penetration.

Hoa Binh grapefruits have already made significant strides, entering the UK market in 2022 and the US market in 2023. These achievements affirm the province’s reputation for high-quality agricultural products. Future plans include accessing the Japanese and the Republic of Korea markets, with efforts focused on meeting international standards, enhancing branding, and promoting trade.

Through comprehensive measures, Hoa Binh aims to solidify its foothold in the global agricultural export sector while boosting the value of its citrus fruits./.

Black Friday: sales remain low despite high discounts

Customer turnout remained low on "Black Friday" – the most anticipated shopping day of the year, despite businesses actively launching promotions and offering discounts ranging from 50% to 80%.

A survey of shopping malls and fashion streets such as Ba Trieu, Bach Mai, Chua Boc, Pham Ngoc Thach, and Cau Giay shows that stores flash eye-catching banners and loud broadcasts to promote their sales. Promotional campaigns are also diverse, offering discounts ranging from 30% to 50%, with some stores going as high as 80% off or running special deals like “buy one, get one free” or “buy two, get one free.”

Major fashion brands such as NEM, Format, D'chic, Adidas, Mango, and Converse, as well as more affordable labels like Canifa, Yody, Vietbrothers, and TokyoLife all display discount signs ranging from 50% to 70%, and even up to 80%, to attract customers.

However, sales activities have not been bustling, with only a few well-known brands attracting crowds of customers.

According to Van Anh, a fashion saleswoman at Trang Tien Plaza, the number of buyers on this year’s Black Friday has decreased compared to previous years, while purchasing power has also shown little improvement, and the value of each transaction has also noticeably declined.

Hoang Y Nhi living in Bach Mai street said although many items are deeply discounted, she is still very cautious and thoughtful about her spending decisions because the designs of discounted products this year are not attractive enough, out of fashion or out of size.

Most buyers share a view that Black Friday promotions have failed to attract consumers because of the ongoing economic difficulties which have made shoppers more cautious about their spending decisions.

Chu Tuan Long, a shopping enthusiast in Kham Thien street, said that over recent years, Black Friday has gradually lost its appeal as more and more stores launch promotional programmes before the event and extend them through the event, so shoppers like him no longer feel the excitement of waiting for the actual day to hunt for sales as they did before./.

Vietnam Maritime Corporation eyes to enhance cooperation with Indian partners

The Vietnam Maritime Corporation (VIMC), in collaboration with the Vietnamese Embassy in India, has held a seminar on vision and investment potential in port, shipping, and logistics in India.

Speaking at the November 27 event, Ambassador Nguyen Thanh Hai highlighted the essential role of the port systems, shipping activities, and logistics in maritime connectivity, as well as in trade and investment.

According to the diplomat, despite the remarkable growth in aviation connectivity between Vietnam and India, bilateral maritime connectivity remains modest and does not match the demand and potential of the two countries. Therefore, investing in the South Asian country's port system, maritime transport, and logistics will directly facilitate economic interactions, diversify shipping services, and bring benefits to both sides.

VIMC Vice President Le Quang Trung and General Director of VIMC Lines Do Thi Ngoc Trang introduced participants to the corporation’s strengths, and expressed their desire to strengthen connections and cooperation with India's partners and businesses in the coming time to develop a comprehensive service chain to enhance two-way trade between Vietnam and India, expand markets, and seek opportunities to invest in a suitable port system in India and the region.

The same day, a VIMC delegation had a meeting with Secretary of the Indian Ministry of Ports, Shipping and Waterways T K Ramachandran, during which they showed their hope for continued support from the ministry in efforts to maintain and develop new service routes, as well as in terms of policies and mechanisms, as VIMC is exploring opportunities to expand investment cooperation in the field of port operations and logistics, in order to complete the service chain between Vietnam and India.

Welcoming the VIMC’s development strategy, Ramachandran affirmed his willingness to listen to and help the corporation to address issues arising in its operation process in his country.

Also on November 27, the VIMC delegation held a customer conference with the participation of representatives from the Indian National Shipowners' Association, the National Investment Promotion and Facilitation Agency Invest India, port corporations, shipping and logistics companies, as well as import-export businesses.

The VIMC has been operating a maritime transport route connecting Vietnam to Kolkata, India, since 2022, while VIMC Lines is planning to open additional routes to the country’s Chennai and Kattupalli ports./.

Da Nang Hi-Tech Park attracts 177-million-USD FDI project

The Da Nang Hi-Tech Park continues to strengthen its position as a leading investment hub with the recent in-principle approval of a 177-million-USD project by Dentium Co., Ltd., from the Republic of Korea (RoK).

This significant investment brings the total registered foreign direct investment (FDI) in the park to 875.2 million USD, spanning 13 projects.

Vu Quang Hung, head of the Da Nang Hi-Tech Park and Industrial Zones Authority (DHPIZA), ICT VINA III is identified as a pivotal project for 2021-2025 under Da Nang's "Master Plan for Hi-Tech Park Development to 2030," approved in October 2019.

With Dentium's robust financial capacity and technological expertise, the project is expected to meet its deadlines and prove effective, he noted.

Hwang Sung I, Deputy Director of ICT VINA Co., Ltd, said this is Dentium’s third investment in the Da Nang Hi-Tech Park, following 20-million-USD ICT VINA approved in 2018 and 60-million-USD ICT VINA II approved in 2020. Together, these projects represent a total investment of 257 million USD.

Since the beginning of 2024, the DHPIZA has licenced four new projects, including two FDI projects worth 178.5 million USD and two domestic ones capitalised at 810 billion VND.

So far, the city has attracted 521 projects to its hi-tech park and industrial zones. These include 396 domestic projects with a combined investment of 33.88 trillion VND and 125 FDI ones valued at 2.22 billion USD./.

Singaporean textile firm invests in 590-million-USD project in Nghe An

The central province of Nghe An has given in-principle approval to a 590-million-USD project by Mega Textile Singapore Limited in the Tho Loc Industrial Park in Southeast Nghe An Economic Zone.

The Singaporean firm will establish Mega Textile Vietnam Co., Ltd to implement the project, which will occupy more than 51 hectares of land.

The aim of the project is to produce a wide range of textiles, including fabrics, knitwear, coloured yarns, cut semi-finished products, clothing, and belts. The annual production capacity is expected to reach approximately 67,200 tonnes of fabric, 10,300 tonnes of knitwear, 7,200 tonnes of coloured yarn, 100 million belts, 130 million clothing items, and 2.2 million cut semi-finished products.

Regarding the project’s timeline, the preparation of investment procedures is set to be completed by the second quarter of 2025. Phase 1 is slated to officially begin operations by the second quarter of 2028, while Phase 2 will commence by the second quarter of 2030, and Phase 3 by the second quarter of 2034.

Once operational, the project is hoped to contribute significantly to the State budget revenue and create over 15,000 jobs for locals, boosting the development of the textile industry both locally and nationwide.

Mega Textile Singapore Limited was founded on February 18, 2022. It is wholly owned by Best Pacific International Holdings Limited, a company listed on the Hong Kong Exchange.

Best Pacific is a leading name in the manufacturing and trading of textiles and belts, supplying top global sportswear and lingerie brands.

In Vietnam, Best Pacific established its first factory in Hai Duong province in 2016, providing employment for over 1,600 workers. The Mega Textile Vietnam project will be the largest scale project of the group./.

VNA/VNN/VNS/VOV