Cross-ownership and manipulation in credit institutions will be tightened after the revised Law on Credit Institutions took effect from July 1, 2024.

Under the law, ownership by an institutional shareholder in a credit institution will be reduced from 15 per cent to 10 per cent and for an individual and his/her related parties from 20 per cent to 15 per cent.

The ownership limit for an individual shareholder remains unchanged at 5 per cent, but now credit institutions must disclose information about shareholders holding stakes of 1 per cent or more instead of the previous 5 per cent.

Credit institutions must disclose this information annually to the board of directors and shareholders.

The amendments are aimed at limiting and preventing cross-ownership and ownership that dominates the operations of credit institutions.

According to the State Bank of Vietnam (SBV), as of 2022, there were 17 institutional shareholders in 13 banks and one financial company with ownership exceeding 10 per cent.

It is challenging to enforce comprehensive regulations to address cross-ownership issues and requires an integrated approach, using national data on population and business registration and coordination between various governmental agencies.

In the case of Saigon Commercial Bank (SCB), Trương Mỹ Lan controlled 80 per cent of SCB’s charter capital through 74 proxies to circumvent the legal regulation that an individual cannot own more than 5 per cent of a bank's charter capital. SCB was manipulated, causing subsequent losses to the financial market and the entire economy.

Economist Lê Đạt Chí does not think ownership caps can completely prevent cross-ownership in banks and will merely enlarge the ecosystem of shell companies and individuals standing in as proxies and make it more sophisticated.

Experts say there are still many ways to circumvent the law and keeping it under check requires coordination among various agencies and close monitoring by the SBV.

Under a directive on the implementation of monetary policies in 2024, Prime Minister Phạm Minh Chính asked the Ministry of Public Security to coordinate with the SBV to develop measures to prevent and handle cross ownership and manipulation at credit institutions.

Scrutinising cross ownership and manipulation at credit institutions aimed to ensure system safety as well as financial and monetary security, the PM noted.

VCCI recommends mineral mining rights to be granted through auction and bidding

Commenting on the draft Law on Geology and Minerals, the Chamber of Commerce and Industry of Vietnam (VCCI) proposed implementing auctions for mineral mining rights.

VCCI has just sent a document to the National Assembly's Committee for Science, Technology and Environment, commenting on the draft Law on Geology and Minerals.

In the written comments, VCCI is concerned that the regulation on areas where mineral mining rights are not auctioned will create a very large room for forms of “asking – giving” mechanism.

The agency cited a report which summed up ten years of the implementation of the 2010 Mineral Law by the Ministry of Natural Resources and Environment, indicating that out of a total of 421 mineral exploitation licences issued by this ministry, only six licences, accounting for just 1.4%, were granted through auction.

For licences issued by provincial people's committees, 394 out of a total of 4,279 licences were granted through auction, accounting for 9.2%.

This low percentage indicates that the majority of mineral mines are still licensed through “asking – giving” procedures.

The draft also stipulates areas where mineral mining rights will not be auctioned.

This regulation has very large implications, covering many important minerals, especially metallic minerals such as bauxite, titanium and iron ores, says VCCI in the comments. All of them are minerals with great commercial value.

Meanwhile, the effectiveness of an auction had been recorded in practice. The winning auction price of six licences issued by the Ministry of Natural Resources and Environment was 76% higher than the starting price.

Thus, VCCI believes that the benefits for the budget will be huge if expanding auction cases, while creating a transparent and healthy business environment for businesses.

Therefore, VCCI has requested the drafting committee to research and consider regulations in the direction that all mineral exploitation rights must be granted through auction or bidding.

Regarding financial issues, Vietnam's mineral sector has not been able to attract large, methodical investment projects in recent times, says VCCI.

The law has not had an appropriate protection mechanism for enterprises investing in large-scale projects, with long capital recovery times.

According to businesses, one of the biggest reasons limiting large investments in the mineral sector is policy risk.

Frequent and continuous policy changes in an unfavourable direction for mineral projects already in operation have had a very negative impact on Vietnamese business and investment environment.

"There are businesses reporting that their financial obligations to the budget have increased nearly three times compared to the regulations at the time of granting mineral exploitation licences, such as resource tax, mineral extraction rights fees, environmental protection fees for mineral extraction and mineral export taxes," VCCI says.

VCCI suggests looking into additional investment guarantee mechanisms for large mineral projects. The State ensures a stable investment environment in terms of financial obligations of businesses to the state budget.

In case of legal changes, investors shall not be subject to unfavourable changes throughout the entirety of the project, or for the first half of its duration./.

Thriving exports push Tien Giang closer to yearly goal

The Mekong Delta province of Tien Giang is making significant strides toward its yearly export target of 5 billion USD, thanks to a thriving performance in the first half of this year.

Director of the provincial Department of Industry and Trade Luu Van Phi said the locality has already secured 2.97 billion USD in exports during the period, up nearly 11% annually and reaching around 60% of the yearly goal.

The growth was largely driven by the industrial sector which witnessed a 32% year-on-year increase, bringing in a total of 2.37 billion USD and accounting for over 80% of the province's total exports. The agro-forestry-fisheries sector also played a contributing role, generating 252 million USD, a rise of 7.32% year on year and equivalent to 8.52% of the total.

The US remained its top export destination, absorbing over 21% of its exports, followed by Russia, India, China, and Germany.

To achieve the goal for the whole year, the province is taking a multi-pronged approach, with trade promotion activities targeting new and promising markets, particularly those less vulnerable to inflationary pressures but with strong growth potential.

Furthermore, the department is actively promoting digital transformation by facilitating the issuance of preferential Certificates of Origin (C/O), as this will empower local businesses to effectively leverage free trade agreements and boost their export competitiveness.

Workshops and training sessions are being held to equip exporting enterprises and cooperatives with the latest knowledge and regulations on export markets, as provided by the Ministry of Industry and Trade. This will ensure they are well-equipped to navigate the intricacies of global economic integration.

The department is also fostering the adoption of information technology through e-commerce platforms and digital tools. This initiative aims to expand markets for local competitive products, including rice, fruits, processed seafood, apparel, leather and footwear./.

Minister calls on Korean organisation, bank to support Vietnamese SMEs

Minister of Planning and Investment Nguyen Chi Dung has called on the Korea Federation of SMEs (KBIZ) and the Industrial Bank of Korea (IBK) to continue supporting small- and medium-sized enterprises (SMEs) in Vietnam.

At a working session with representatives from the two in Seoul, including KBIZ Chairman Kim Ki-moon and IBK Chairman and CEO Kim Sung-tae, Dung said that the ministry hopes to strengthen cooperation with them to exchange experiences in supporting SMEs.

The minister expressed his impression at the business development policy of the Republic of Korea (RoK) as well as the entrepreneurial spirit and dynamism and willingness to face challenges of Korean businesses.

The two sides discussed issues of concern such as plans to strengthen cooperation between the two countries’ SMEs, and the role of the KBIZ and the IBK in transferring methods and experiences to SMEs.

Dung called on the two to help improve Vietnam's investment environment and policies to Korean businesses and connect SMEs of the two countries for investment cooperation.

Established by the Korean Government in 1961, the IBK provides specialised financial services for SMEs in the RoK.

With 13,700 employees, the bank has 60 branches in 13 countries, including the US, the UK, Poland, India, China, Japan, and Vietnam.

In Vietnam, it opened a branch in Ho Chi Minh City in March 2008 and another Hanoi in November 2013. In July 2017, the bank submitted to the State Bank of Vietnam an application for a license to establish a bank with 100% foreign capital in Vietnam.

Meanwhile, the KBIZ, founded in 1962, is one of the four largest business associations in the RoK with more than 3.5 million members. In Vietnam, it established a representative office in Ho Chi Minh City in January 2016, which was moved to Hanoi in June 2020. To date, the KBIZ has had representative offices only in Vietnam and the US./.

Forestry exports up 21% in H1

The export value of timber and wood products hit 7.95 billion USD in the first half of 2024, up 21.2% year-on-year, and representing 52.3% of the plan set for the year, the Forestry Department under the Ministry of Agriculture and Rural Development has reported.

That resulted in a trade surplus of 6.67 billion USD, 21.6% higher than that of the same period last year, statistics show.

The US and China were the main importers, respectively purchasing 4.38 billion USD and nearly 1.06 billion USD worth of forestry products from Vietnam in the period, up 27.6% and 46.6% compared to the same period in 2023.

Concentrated forest exploitation nationwide was estimated at 9.93 million cu.m, 6.3% higher than that of the same period last year.

Localities planted 125,500 ha of concentrated forests, equivalent to 51.2% of the plan, up 1.2% year-on-year. The total area of planted forests is estimated to reach 245,000 ha in the whole year.

Many localities are focusing on managing seedling quality to improve that of planted forests. The rate of planted forest areas with controlled seedling quality has reached 85%.

Localities are also implementing initiatives to switch small-scale forests into large-scale ones, promoting sustainable forest management, and obtaining forest certification. Currently, the country has 495,000 ha of forests granted certification of sustainable management./.

Ba Ria-Vung Tau ramps up efforts to combat IUU fishing

Up to now, all registered fishing vessels in the southern province of Ba Ria-Vung Tau have had their data updated on the national fisheries database (Vnfishbase), Pham Thi Na, deputy director of the provincial Department of Agriculture and Rural Development said on July 2.

She made the affirmation at a conference which was held to review the implementation of illegal, unreported and unregulated (IUU) fishing combat and roll out work under Resolution No.04/2024/NQ/HDTP dated June 12, 2024 of the council of judges of the Supreme People’s Court,

Local authorities have granted temporary registration to 1,140 vessels with “3 Nos”(no registration, no examination, no licence), she added.

The rate of installation of vessel monitoring system (VMS) devices among fishing vessels with a length of 15m or more has reached 97.15%, and 75.92% have been licensed to operate at sea.

Staff have been arranged to be on duty around the clock to monitor and supervise fishing vessel activities through VMS and regularly update the list of those that lose connection for six hours or more than 10 days at sea as well as those at high risk of engaging in offshore fishing that violates foreign waters.

From the beginning of 2023 to the end of June this year, the province's functional forces have detected and handled 205 out 207 cases of fishing vessels that lose VMS connection at sea for more than 10 days. Of which, 94 cases have been punished with total fines of more than 2.3 billion VND (90,700 USD).

According to the official, risks relating to infringement of foreign waters in the province still remain and the number of fishing vessels disconnecting their VMS while operating at sea is on the rise.

In his remarks at the conference, Nguyen Cong Vinh, Vice Chairman of the provincial People's Committee requested departments, agencies and localities to focus on information dissemination work and strictly deal will IUU fishing violations.

The provincial Border Guard Command were urged to tighten inspection and control of vessels' movements at fishing ports in line with their functions and tasks and not allowing those don’t meet requirements to leave ports.

The Department of Agriculture and Rural Development were required to work closely with the Naval Region 2 Command, Coast Guard Regions 3 and 4 commands, and the fisheries surveillance force to keep updated on the operation of fishing vessels, and detect, investigate and handle violations in a timely manner. Besides, the province has joined hands with other coastal cities and provinces to deal with IUU fishing as Vietnam is striving to carry out the European Commision’s recommendations in this regard.

At the meeting, representatives from the provincial People's Court spoke about tasks to be done under Resolution No.04/2024/NQ/HDTP, which provides guidance on the enforcement of stipulations in the Criminal Code regarding the criminalisation of IUU practices./.

PM attends ceremony marking 30 years of Vietnam Airlines’ direct route to RoK

Prime Minister Pham Minh Chinh attended a ceremony in Seoul on July 3, marking 30 years since Vietnam Airlines launched its first direct flight between Vietnam and the Republic of Korea (RoK) and welcoming the 15 millionth passenger on this route, within the framework of his official visit to the East Asian country.

The first direct air route, linking Ho Chi Minh City of Vietnam to the RoK's Seoul capital city, served as an important bridge promoting socio-economic and cultural exchanges between the two countries.

At present, the national flag carrier is operating six direct flights: Hanoi/Ho Chi Minh City - Seoul; Hanoi/Ho Chi Minh City - Busan; Da Nang - Seoul; and Cam Ranh - Seoul, with an average frequency of up to 112 flights per week.

Vietnam Airlines is also the first and only airline in Vietnam operating modern wide-body aircraft Airbus A350 and Boeing 787 on the routes between Vietnam and the RoK. Over the past three decades, it has conducted a total of 65,000 flights, transporting 15 million passengers and more than 291,000 tonnes of goods between the two countries.

Speaking at the event, PM Chinh stressed that currently, the RoK holds the No. 1 position in direct investment, No. 2 in development cooperation and tourism, and No. 3 in labour and trade cooperation with Vietnam.

There are nearly 300,000 Vietnamese people working, studying and living in the RoK, and around 200,000 Koreans working and living in the Southeast Asian country, the PM said.

He requested the aviation sector in general and Vietnam Airlines in particular to seek ways to improve service quality and reduce ticket prices, given the fact that increasing travel demand is resulting in a rise in competitiveness.

At the ceremony, Vietnam Airlines and the Korean national flag carrier Korean Air signed a Memorandum of Understanding on cooperation in improving aviation services in the two countries. The Vietnamese airline also presented gifts to its 15 millionth passenger on the Vietnam-RoK route./.

Trade promotion activities prioritise key products and markets

Trade promotions should prioritise key products and markets to increase imports and exports in the second half of this year, the monthly conference at the ministry heard.

Vũ Bá Phú, director of the Trade Promotion Department, at the Ministry of Industry and Trade (MoIT), made the proposal at their monthly meeting in Hà Nội on July 2.

Phú said in the second half of the year, the ministry would continue to innovate trade promotion activities, focusing on promoting digital transformation and connecting local businesses and their products, especially agricultural and aquatic products, to the Việt Nam trade offices abroad.

At the same time, they would coordinate closely with each other in implementing trade promotion programmes to improve efficiency in these programmes.

In addition, they needed to coordinate with localities, commodity associations and businesses to propose and develop plans on implementing trade promotion activities to expand import and export markets and digital transformation in trade promotion under the strategies and projects approved by the Prime Minister.

In the last six months of 2024, Việt Nam's export market would continue to have new requirements for international trade, more market barriers, trade protections, green transformation factor and focus on healthy product groups and organic products.

Changes in the world and regions would bring both advantages and disadvantages for trade activities, posing many new requirements for trade promotion.

"Therefore, supporting localities, associations and businesses in developing the export market and improving import and export situation in the second half of the year is a very important task of the industry and trade sector," Phú said.

The representative of the Department of Trade Promotion said that in the first half of this year, the global economy and trade showed many signs of positive recovery. However, difficulties and challenges were still here, including trade decline, geopolitical instability and inflation in many countries.

In that context, Việt Nam's economy was assessed to continue to be a bright spot in the world with the macro economy and Vietnamese businesses achieving many significant results in both domestic and foreign trade markets.

Exports continued to grow each month, maintaining the trade surplus. Agricultural production was stable, while industrial production recovered well. Exports of many agricultural products increased sharply.

Phú also assessed that during the first six months, the trade promotion activities contributed to connecting the businesses with domestic and foreign markets in consumption of their products, effectively supporting the businesses in exploiting and searching for export markets and strengthening links between production and consumption.

The trade promotion activities would combine traditional models with modern ways, associated with e-commerce and digital economy.

They would raise awareness in the business community about green transformation and sustainable production, to support for the businesses in improving their competitiveness and adapting to market trends.

Trần Thanh Hải, deputy director of the MoIT's Import-Export Department, said according to inter-ministerial statistics, total trade turnover of goods was estimated at US$369.6 billion in the first half of this year, up 16 per cent over the same period last year. Of which, exports were at $189.5 billion, up 14.2 per cent, imports were at $180.2 billion, up 18.1 per cent.

Hải also emphasised that a number of factors had been promoting the recovery of import and export activities, such as results from the policy of international economic integration and diversification of export and import markets due to new generation free trade agreements signed between Việt Nam and its partners.

Along with that, the Government had many solutions on comprehensively supporting the economy. MoIT also identified difficulties and risks from the export markets to propose solution on development of the export market.

High inventories in markets were gradually easing, especially in key export markets such as the EU and the United States.

The global economy in 2024 still faces many risks, according to Hải. The fight against inflation is still ongoing in many countries. The problem of excess capacity in China will also increase competitive pressure in the global market when it promotes goods export to other countries.

To increase exports, according to Đặng Thị Thanh Phương, Việt Nam Trade Counselor in Germany, the businesses need to meet new requirements of the import market. To meet mandatory minimum requirements of the market, buyers will also have specific requirements for each type of product.

The businesses also need to take advantage of the EVFTA to access distribution channels in Germany, especially distribution channels for Asian goods.

According to the representative of the Việt Nam Trade Office in Canada, the tariff advantages from CPTPP for Vietnamese exports have gradually reduced, because Canada has and is promoting the signing of free trade agreements with a series of partners in South America and the Indo-Pacific region such as Malaysia, India, Indonesia, and ASEAN bloc.

This trend is negatively impacting the export of some Vietnamese key export products such as fruits, seafood and textiles.

Due to losing the tariff advantages, Việt Nam's export products face high domestic logistics costs in Canada, making Vietnamese products' export prices less competitive compared to the products from neighbouring South American countries.

Therefore, in the future, the trade office will also focus on introducing the database of Việt Nam's industrial enterprises, as well as each specific enterprise on the English website to promote communication about Vietnamese enterprises.

Vietnam sees upsurge in durian exports

Vietnam grossed US$919 million from durian exports during the five-month period, representing a sharp annual rise of 74%, according to the General Department of Vietnam Customs.

May alone witnessed the country’s durian exports skyrocket by 107% to reach US$450 million compared to the previous month and up 34% against the same period from last year.

Elsewhere, durian exports enjoyed a 3.5-fold rise compared to dragon fruit, which used to secure the top position in the export group of fruit and vegetables.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, stated that China is still increasing its purchases of Vietnamese durian.

Nguyen therefore predicted that the durian export volume in June will reach US$600 million, raising the total turnover in the first half of the year to US$1.5 billion.

He pointed out that Vietnamese durian enjoys plenty of advantages, such as an abundant output, fast shipping time, and reasonable prices, especially when the overall quality of frozen durian has been controlled.

However, with some recent shipments being contaminated with banned substances, Nguyen warned firms to tighten inspection over the substances at the garden and packaging facilities in a bid to improve the overall product quality.

The Plant Protection Department recommends that localities and businesses closely monitor  growing area codes and packaging facilities in a bid to avoid buying durian from unlicensed establishments, which in turn could impact the export activities of local businesses.

The fruit and vegetable sector fetched over US$2.65 billion from exports in the first five months of the year, up 30.9% year on year. China was the country’s major export market, accounting for 64.5% of the total turnover, with a value reaching nearly US$1.71 billion, up 32.94%.

Strong growth has been recorded in other markets such as the Republic of Korea, the US, and Japan.

The Vietnam Fruit and Vegetable Association forecasts that fruit and vegetable exports this year will continue to grow by 20% to US$7 billion, a rise of between US$0.5 - 1 billion compared to the set plan at the end of last year.

Việt Nam’s exports of cinnamon, chilli products face food safety warning

Vietnamese exports of cinnamon, organic chilli powder and chilli products have been warned by some EU countries they are violating food safety standards, according to Việt Nam Sanitary and Phytosaniary Notification Authority and Enquiry Point (SPS Vietnam).

The office has received the warning from the European Union (EU)'s Rapid Alert System for Food and Feed (RASFF).

The Việt Nam Pepper and Spice Association has recommended that agricultural and food products exported to the EU must strictly comply with this market's food safety regulations, including pesticide residues, preservatives and other additives in the product.

The businesses need to carry out periodic testing for those products to ensure no excess levels of other chemicals. This not only helps the businesses improve their reputation and product quality, but also creates favourable conditions for them in accessing and expanding export markets.

The association has also noted that the businesses need to check product quality before exporting.

Recently, the EU has decided to increase the frequency of inspections for chilli and dragon fruit products imported from Việt Nam.

Specifically, the Việt Nam Trade Office in Belgium and the EU said they are increasing the frequency of inspections for dragon fruits from 20 per cent to 30 per cent of the total import batches, accompanying food safety certificates products and results of analysis and testing of pesticide residues.

Meanwhile, chilli products are subject to an inspection frequency of 50 per cent of the imports into the EU market. 

Electricity supply to be basically sufficient in remaining months of year

The supply of electricity will basically meet the daily demand for consumers and production and business in the remaining months of this year, according to the Ministry of Industry and Trade.

In July 2024, plans have been made for scenarios where there are prolonged spells of extreme hot weather and coal-fired power plants have to drop output, putting the Northern power system at risk of having no spare capacity.

In this scenario, the shifting load demand between peak hours will be drastically implemented together with mobilising additional generation sources from diesel to ensure sufficient electricity supply.

From August to December, the capacity reserve of the Northern power system is predicted to remain low. Thus, power generators must strictly ensure the maintenance of the available capacity and equipment readiness.

The power system in the southern region could face difficulties in case the gas supply for electricity production drops due to a halt in operation for maintenance and repair.

According to the Electricity Regulatory Authority of Việt Nam, close watch will be placed on load demand, hydrological development and power system operation to ensure sufficient power supplies across all scenarios.

In addition, construction of electricity generation and grid projects will be sped up with the focus on the 500kV transmission line from Quảng Trạch (Quảng Bình) to Phố Nối (Hưng Yên) to transmit electricity to the northern region.

Võ Quang Lâm, Deputy Director of Việt Nam Electricity (EVN), said that they were also speeding up the construction of electricity power grids to increase electricity imports.

EVN has forecast that the average temperature in July will be 0.5-1 degree Celsius higher than previous years. July is also a peak month of hot season in the north so the forecast is for high electricity demand.

According to EVN preparations are ready for power supply security in case of prolonged hot weather and increased load demand.

In the second half of this year, the power system operation will be basically ensured with the electricity output meeting the plan.

Recent figures showed that the water levels of hydroelectricity reservoirs are equivalent to an output of 6.6 billion kWh, 1.4 billion kWh higher than the plan.

Coal-fired power generation is being maintained at good production levels.

According to Việt Nam National Coal – Mineral Industries Holding Corporation Limited, coal supply for electricity production totalled 23.47 million tonnes in the first half of this year.

The power supply is also increasing from renewable energy projects.

In the first six months of the year, the total electricity output, including domestic production and import, was estimated at 151.69 billion kWh, 776 million kWh higher than the plan. Average daily output was 833.5 million kWh per day, 11.3 per cent higher than the same period last year.

Việt Nam aims to achieve a total electricity output of 310.6 billion kWh in 2024 to meet increasing demand from individual production and business in 2024.

Banking stocks boost VN-Index to approach 1,270 points

Vietnamese markets extended gains and ended higher on Tuesday, mainly due to rises in banking industry shares.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 15.23 points, or 1.21 per cent, to close the trading session at 1,269.79 points, marking the second consecutive increase for the index.

Throughout most of the day, the VN-Index traded above the reference level, maintaining a relatively stable range and closing the session higher.

The market's breadth was positive, with gainers outnumbering losers by 227 to 88. Liquidity on the southern bourse increased by 6.6 per cent to VNĐ13.9 trillion (US$550.6 million), with a trading volume of 528 million shares.

The VN30-Index, which tracks the 30 biggest stocks, climbed 10.58 points, or 0.82 per cent, to 1,296 points. Twenty-six ticker symbols in the VN30 basket edged up, while four inched down.

Data compiled by financial news site vietstock.vn showed that cash was moving into banking stocks.

The biggest gainer was the Bank for Foreign Trade of Vietnam (VCB), with shares of the lender up 2.44 per cent, contributing nearly three points to the VN-Index overall gains.

It was followed by the Bank for Investment and Development of Vietnam (BID), up 4.21 per cent, the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), up 0.94 per cent, the Liên Việt Post Joint Stock Commercial Bank (LPB), up 6.09 per cent and the HCM City Development Joint Stock Commercial Bank (HDB), up 4.33 per cent.

Other large-cap stocks that performed well included Hòa Phát Group JSC (HPG), which increased by 1.23 per cent, Vinhomes JSC (VHM), up 1.19 per cent and the Vietnam Rubber Group (GVR), which rose by 0.87 per cent.

Limiting the rallies, some big stocks still faced slight sell-offs, such as FPT Corporation (FPT) which posted a decline of 0.47 per cent, Vietnam Prosperity Joint Stock Commercial Bank (VPB) down 0.26 per cent and Vincom Retail Joint Stock Company (VRE) which lost 0.69 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Monday. It rose 0.94 per cent, to 240.8 points.

During the session, more than VNĐ1 trillion worth of shares, equivalent to a trading volume of nearly 50 million shares, were moved on the northern market.

Foreign investors significantly cooled their net selling. Specifically, they sold a net VNĐ36 billion on HoSE on Tuesday, a very small net sell compared to previous trading sessions. 

HCM City hosts international precision engineering, manufacturing expo

The latest technologies, products and solutions are on display at the 20th Precision Engineering and Manufacturing Reinvented Exhibition that opened in HCM City on Tuesday.

MTA Vietnam has gathered 323 exhibitors from 15 countries and territories, including China, Germany, Hong Kong, India, Italy, Japan, the Republic of Korea, Malaysia, Poland, Singapore, Taiwan, Thailand, Turkey, and the US.

As a leading trade event in the precision engineering and manufacturing industry, it focuses on metal forming and sheet metal cutting machinery, metal cutting machine tools, measurement and testing technology, cutting and machining tools, automation, and control technologies.

Speaking at the opening ceremony, Nguyễn Quân, chairman of the Việt Nam Automation Association, said the exhibition provides an unique opportunity for domestic and international businesses to showcase their products and services and get abreast of the latest trends and technologies.

Over the course of four days, participants can engage in networking, establishing relationships with suppliers, investors, and potential customers, he said.

A number of seminars covering topics like smart and sustainable manufacturing towards net zero, 3D printing technology and transitioning from the OEM (original equipment manufacturer) to the ODM (original design manufacturer) model would be held, he said.

Ben Wong, country general manager of Informa Markets Vietnam, the organiser, said: “Over the past two decades, MTA Vietnam has grown from a modest exhibition to one of the largest and most significant manufacturing trade shows in Việt Nam.

“We have combined our exhibition efforts with seminars and training programmes to enhance the capabilities of the workforce.”

Within the framework of the expo, the second robot competition “MTA Challenges” will be organised by Informa and the Small and Medium Enterprises Development Support Center 2 under the Directorate for Standards, Metrology and Quality.

The competition offers opportunities for university students in HCM City to express their creativity, teamwork skills and robot programming knowledge to nurture the next generation of automation engineers.

The Việt Nam Industrial Robotics and Automation Event exhibition area is expanding and adding more space for companies to showcase and demonstrate automation equipment to visitors.

It made its debut last year and was well received by industry professionals.

The expo, at the Saigon Exhibition and Convention Centre, will run until Friday. 

Hà Nội hosts its first Aerospace and Defence Manufacturing Innovation Day

The first ever Aerospace and Defence Manufacturing Innovation Day attracted participation from key organisations and ministries, including the French Ambassador to Việt Nam.

The forum, on July 2, was jointly organised by Dassault Systèmes, the National Innovation Center (NIC) and Kami Manufacturing Technology Corporation (KMTC).

The focus was on Việt Nam's digital transformation and innovation in aviation, aerospace and defence, drawing significant interest from global investors, particularly from France.

French Ambassador Olivier Brochet said: "France and Việt Nam have enjoyed over 10 years of strategic partnership, with French enterprises bringing numerous technological solutions to Việt Nam to foster economic development and innovation. Today’s event, featuring Dassault Systèmes, highlights the expertise and technology that France can contribute to this bilateral cooperation."

Topics discussed at the event included the impact of digitisation and new technologies such as virtual twins on future manufacturing, aiming to accelerate innovation and optimise operations. Model-Based Enterprises (MBE) are emerging as a key methodology to streamline and standardise business processes.

David Ziegler, Vice President of Aerospace & Defence at Dassault Systèmes, said: "Over the past 40 years, since 1981, we have used virtual reality systems for design and practical applications.

"By 1989, we expanded partnerships with airlines and aircraft manufacturers using our VR software for component design. We introduced Virtual Twin technology before 2020, leading to 70 per cent of current vaccines being developed through this system. Looking towards 2040, we envision this technology driving innovation and new business models. Dassault Systèmes' systems are crucial in aerospace and defence, with strategic partnerships with Boeing, Airbus, Dassault Aviation and Lockheed Martin.

"Before designing an aircraft, goals for the product, cost and weight are set. Engineers, along with partners, create initial aircraft designs and digital system simulations using complex tools. They conduct necessary operations and tests, collaborating with experts in various fields on parallel studies like noise, simulation and vibration.

"The manufacturing process is also simulated, showing machinery and robot deployment. Dassault Systèmes' optimised workflow offers custom options for clients. Once the aircraft is operational, all flight data is recorded on our platform." 

Louis Cao, President of Kami Manufacturing Technology Corporation, said: "Not only Kami but the entire domestic supply chain and manufacturing community view this partnership as a harmonious combination of Việt Nam's aerospace and defence expertise with Dassault Systèmes' global experience and advanced technological solutions. This collaboration will enhance the competitiveness of domestic component manufacturers to meet the modern needs of the aerospace industry, fostering innovation for the national digital economy."

Võ Xuân Hoài, Deputy Director of NIC, added: "NIC proudly supports high-tech initiatives, recognising the vital role of innovation in production and design amid digital transformation. Committed to investing in R&D, NIC collaborates with businesses, researchers and international partners to drive sustainable growth and innovation, fostering effective cooperation among stakeholders."

Dassault Systèmes established its representative office in Hà Nội in July 2022 and on that occasion, also announced a cooperation agreement with KMTC. This agreement will position KMTC as a leader in digital transformation in the aerospace manufacturing sector in Việt Nam. 

Aquatic product exporters advised to adapt to market fluctuations

In order for Vietnam's aquatic product exports to reach the target of 10 billion USD this year, businesses need to be more adaptative and adjust their operation plans to suit the market context, according to Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Thi Thu Sac. 

Sac also advised enterprises to diversify export markets to avoid dependence on certain ones, and at the same time develop the domestic market. 

The turnover of Vietnam’s aquatic product exports reached 4.36 billion USD in the first half of this year, up 4.9% year-on-year. 

Among the top five importers, the US recorded the strongest growth, followed by China, the EU, and the Republic of Korea. As for product types, the group of crabs and crustaceans saw the strongest growth. 

According to VASEP, a slight increase in export turnover in the first half is a positive sign for this industry. However, the shrimp sector, which brought about 1.3 billion USD in export revenue in the first five months, continues to face many challenges as the world economic situation shows no signs of recovery, and inflation remains high. 

Tran Van Minh, Director of Nha Trang Seafoods F89 Joint Stock Company in the Meking Delta province of Bac Lieu, said that his company, faced by difficulties and challenges caused by the world economic downturn and tensions between Russia and Ukraine, has promptly adjusted its production and business strategies to improve shrimp export efficiency to the US and EU markets. In addition, it is studying to expand its market to other countries, especially the Asian and Latin American markets. 

In particular, the company is focusing on improving raw materials, and increasing production capacity to create quality export products with high competitiveness, so as to ensure that they meet strict standards of the US and EU markets. 

To achieve that, the firm is promoting cooperation with farmers and cooperatives through signing contracts, and help farmers with techniques, breed selection, feed, veterinary medicine, and disease control./.

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