It is an urgent need to strengthen security for online transactions amidst burgeoning cashless payments, an official from the central bank has said, referring to biometric authentication to be mandatory from July 1.

Under a decision of the State Bank of Vietnam (SBV), each online transaction worth above 10 million VND (392.65 USD) or daily transactions exceeding 20 million VND will require biometric information.

Biometric authentication uses biological identifiers such as fingerprints, irises, voices, and facial features, and is considered the most secure from frauds. The regulation is to foster security for bank accounts and prevent financial frauds which are on the rise in Vietnam.

Pham Anh Tuan, Director General of the SBV’s Payment Department, said Vietnam counts 182 million personal payment accounts, with more than 87% of adults owning at least one, adding the number of payments via QR codes has skyrocketed over the past time.

Experts have warned that traditional authentication methods using passwords and one-time password (OTP) are not strong enough against cyberattacks. Meanwhile, they said, biometric security will be matched to data stored in the national ID database.

Therefore, the biometric solution will make it easier for service suppliers and the central bank to manage accounts and transactions, they noted.

Apart from limiting virtual bank accounts, this type of authentication will help competent forces trace criminals and recover money from cyber scams, said Vu Ngoc Son from the National Cybersecurity Association.

Domestic banks have been sending their customers notifications and reminders to update their biometric registration in anticipation of the new rules.

According to Major General Nguyen Van Giang, Deputy Director of the Department of Cyber Security and High-Tech Crime Prevention (A05) under the Ministry of Public Security, in 2023, the total amount of money lost to online scams was estimated to be around 8-10 trillion VND, a 1.5-fold year-on-year increase.

Up to 91% of these fraudulent activities were related to financial schemes, with 73% of mobile device and social media users frequently targeted by scam messages and calls.

Against the backdrop, the department has advised people to stay vigilant, avoid risky actions like clicking on strange links and selling bank accounts, and use multi-factor authentication./.

Vietnam, Singapore eye to boost seafood trade

Vietnam and Singapore have potential and advantages to promote fisheries cooperation, industry insiders said at a conference connecting fishery businesses of Vietnam and Singapore in Ho Chi Minh City on June 25.

The event was organised by the Vietnam Association of Seafood Exporters and Producers (VASEP), the Vietnam Trade Office in Singapore and Ho Chi Minh City’s External Affairs Department.

VASEP Deputy General Secretary To Thi Tuong Lan told the conference that Vietnam's fisheries industry is focusing on developing high-added-value processed products.

She noted that Vietnam has the advantage in farming, processing and exporting shrimp and tra fish. Meanwhile, with a large number of tourists, Singapore has an increasing demand for high quality products.

Although Singapore is a small consumer market, it is an important gateway for Vietnamese goods in general and seafood in particular to reach many other countries in the region and the world, Lan said.

While Vietnam has strengths in production and processing, Singapore businesses have very good international trade skills.

Moreover, both Vietnam and Singapore are members of many free trade agreements in the region and the world, and their close geographical locations are very convenient for transportation. Therefore, Vietnamese businesses can take advantage of trade cooperation with Singaporean businesses to access other markets, Lan said.

Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, said that Vietnamese seafood is becoming more visible in Singapore and has received good feedback from consumers there.

According to Thang, once Vietnamese seafood businesses can connect with Singaporean partners, Vietnamese products have great opportunities to reach other markets.

President of Seafood Association Industries Singapore (SIAS) said that the cooperation of Singaporean and Vietnamese businesses will not only contribute to increasing trade turnover between the two countries but also promote the development of seafood business and distribution networks in the region, helping Vietnamese seafood reach more markets in the world./.

SelectUSA connects Vietnamese, US enterprises

Representatives of over 70 Vietnamese enterprises, the biggest-ever number, attended the SelectUSA Investment Summit 2024 held in Maryland state from June 23-26.

These are businesses that have been investing or planning to invest in the US in various fields such as software, information technology, construction, logistics, transport, food and agriculture.

The SelectUSA Investment Summit is the highest profile event in the US to facilitate business and investment by connecting thousands of investors, companies, economic development organisations (EDOs), and industry experts to make deals happen. Hosted by the US Department of Commerce (DOC), the summit is a one-stop shop for companies considering expanding to the US and provides EDOs with the opportunity to meet directly with international companies to facilitate investment deals.

At a seminar connecting the two countries’ firms organised by the Vietnamese Embassy on June 24 evening, Vietnamese enterprises attending the 10th summit heard US businesses and Vietnamese enterprises with investment experiences abroad and in the host country sharing and discussing cooperation opportunities and related regulations in the US.

Vietnamese Ambassador to the US Nguyen Quoc Dung assessed that the big number of Vietnamese enterprises attending at the SelectUSA event showed the outstanding development of the two countries’ relations, reflecting Vietnam's development and international integration, as well as demonstrating the desire of Vietnamese companies to reach out to the international market.

Pamela Phan, Deputy Assistant Secretary for Asia at the DOC, said Vietnam was the US’s 9th important trading partner in 2023, affirming that the US will assist and create favourable conditions for Vietnamese enterprises when they do business and make investment in the US.

US Ambassador to Vietnam Marc Knapper stated that the two countries’ upgrade of their relations to a comprehensive strategic partnership has created more advantages for bilateral economic and trade ties, and encouraged Vietnamese businesses to invest in the US and benefit from investment promotion programmes, including the SelectUSA Investment Summit./.

NA Vice Chairman praises EU contributions to Vietnam’s development

National Assembly Vice Chairman Nguyen Duc Hai has praised European businesses in general, the EU-ASEAN Business Council (EU-ABC), and the European Chamber of Commerce in Vietnam (EuroCham Vietnam) for their positive contributions to Vietnam's socio-economic development and the Vietnam-EU comprehensive partnership and cooperation.

Hosting a reception in Hanoi on June 26 for a delegation led by EU-ABC Chairman Jens Rübbert and EuroCham Vietnam Chairman Dominik Meichle, Hai affirmed that the Vietnamese NA and Government always accompany and offer all possible support to firms to do business successfully and sustainably in Vietnam.

Looking ahead, he encouraged increased investment and trade under the EU-Vietnam Free Trade Agreement (EVFTA) and other bilateral agreements. He specifically urged the EU to expedite the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) by all member states.

Hai also called for the European Commission’s early removal of the "yellow card" warning against Vietnamese seafood exports, taking into account Vietnam's efforts to combat illegal, unreported and unregulated (IUU) fishing, the challenges and differences in fisheries management capacity and challenges faced by Vietnamese fishermen.

The NA Vice Chairman affirmed Vietnam's commitment to creating a business-friendly environment and continuously improving its legal framework to align with international standards. He highlighted the openness to feedback from European businesses on enhancing the Vietnam-EU relationship, particularly in economic and trade spheres.

EU-ABC Chairman Jens Rübbert expressed the interest of European businesses in investing and doing business across various sectors in Vietnam, and affirmed the EU-ABC's support for EVIPA's ratification by EU member parliaments.

EuroCham Vietnam Chairman Meichle echoed the sentiment, emphasising their commitment to continued collaboration with Vietnamese authorities for future development.

Discussions also covered Vietnam's priorities in fiscal policy, public financial management, and business environment improvement. Attracting foreign investment and incorporating gender-responsive budgeting methods were also on the agenda./.

Programme under review to support Vietnamese enterprises in Bac Ninh

A conference was held on June 26 to review the implementation of a Memorandum of Understanding (MoU) on tripartite cooperation between the Ministry of Industry and Trade (MoIT), the People's Committee of Bac Ninh province, and Samsung Electronics Vietnam Co., Ltd. regarding a programme to support Vietnamese enterprises in Bac Ninh.

Signed in September 2020, the MoU aims to increase the annual contribution ratio of Vietnamese enterprises operating in Bac Ninh to the industrial production value generated by Samsung through implementing advisory and supplier development programmes.

Pham Khac Nam, Deputy Director of the provincial Department of Industry and Trade said the support initiatives have yielded positive results.

The manufacturing capacity of Vietnamese businesses has significantly improved, boosting exports, and joining value chains of FDI enterprises, especially Samsung, he said.

As of late 2023, there were 39 out of 340 Vietnamese suppliers joining Samsung’s supply chain.

Participants highlighted the significance of the programme for businesses specialising in supporting industry in Bac Ninh and Samsung in particular. In this format, Vietnamese enterprises gain access to scientifically organised production methods, receive direct support in building on-site quality management systems and training key personnel in factories on measures to improve quality and ability to expand production.

Meanwhile, businesses participating in support programmes to develop smart factories have been trained to strategise and establish a continuous roadmap towards a smart factory model. The digitalisation and automation management solutions directly transferred by Samsung experts have significantly transformed both management systems and production facilities.

Duong Minh Hai from the Kim Sen Industrial Corporation said the consultancy support programmes for improving and developing smart factories have helped instil good habits among employees, thus enhancing production efficiency and applying scientific and technological advancements into management and production operations.

Kim Tea Hoon, Deputy General Director in charge of the Samsung Vietnam Purchasing Centre, said many outstanding enterprises in Bac Ninh have benefited from Samsung's manufacturing experience through deep consultancy activities.

He said that in 2024, Samsung Vietnam will continue to provide consultancy services related to the development of smart factories for five enterprises in Bac Ninh to develop advanced factories with comprehensive production process management through software.

He also affirmed Samsung Vietnam’s commitment to continuously share expertise to support enterprises in Bac Ninh in enhancing their competitive capabilities to meet global standards.

Deputy Chairman of the provincial People's Committee of Bac Ninh provinc, Dao Quang Kha, said cooperation programmes have proven effective, helping enterprises in Bac Ninh and domestic firms in general increase development opportunities and deeper integrate into global supply chains, thus promoting socio-economic development./.

PM holds dialogues with major WEF enterprises

Prime Minister Pham Minh Chinh and Executive Chairman of the World Economic Forum (WEF) Prof. Klaus Schwab on June 26 co-chaired a dialogue with leaders of about 20 major WEF economic groups on the sidelines of the 15th WEF Annual Meeting of the New Champions in Dalian city, China's Liaoning province.

The dialogue, organised in the form of a working breakfast, focused on seeking ways to strengthen cooperation to promote Vietnam’s economic growth and discussing partnership in digital transformation, high technology, green transition, and the role of Vietnam in the global supply chain.

Participants had open, sincere and straightforward discussions to find new cooperation opportunities in the time to come. They hailed Vietnam’s growth rate and the improvement of the local investment and business environment, especially the fact that the country’s digital economy accounted for about 16% of its GDP in 2023.

Prof. Schwab said that he is delighted at the WEF’s close cooperation with Vietnam, a rising star of the world economy.

Brand Cheng, Chairman and CEO of Foxconn, which is present in five localities of Vietnam with 80,000 staff and a total investment of about 4 billion USD, said that Vietnam is growing fast and his company is developing with Vietnam.

A representative from Pepsico said that after 30 years, the firm has invested 850 million USD in Vietnam and will continue to pour more capital into the country, especially in the field of agriculture, food processing, support to small- and medium-sized enterprises, and plastics recycling.

Delegates raised questions related to Vietnam’s policy and regulations in digital economy and green economy such as electronic signature in the banking and finance sectors green certificates, ensuring electricity supply and energy conversion, financing for renewable energy and incentives for high-tech fields.

Addressing the dialogue, PM Chinh said in the context that impacts of the COVID-19 pandemic have still lingered and polarisation, tension, conflict, strategic competition, and climate change have affected the world economy and countries, Vietnam has chosen to priorise growth promotion and taken measures to rein in inflation, stabilise macro-economy, and ensure major balances of the economy.

Vietnam’s recorded a GDP growth of 8.02% in 2022, 5.5% in 2023 and 5.665 in the first quarter of 2024, with economic expansion trend continuing, he noted.

At the same time, the country’s macroeconomy has been basically stable, inflation controlled, and major balances of the economy guaranteed. Public debt, government debt, and foreign debt are much lower than allowed limits. The Vietnamese domestic currency is still in the group with the least devaluation compared to other countries in the region, he added.

Regarding future orientations, PM Chinh said that Vietnam will continue to renew traditional growth drivers and strongly promote new growth motivations, with priority areas being digital economy, green economy, circular economy, sharing economy, and knowledge-based economy. These are also trendy development fields in the world, he held.

The Vietnamese Government leader underlined that in the current context, Vietnam will continue choosing to prioritise growth and roll out flexible policies suitable to the conditions and circumstances of the country and the world situation and trends. He proposed that investors continue to accompany Vietnam in fulfilling the goal of promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances, ensuring social security, and improving people’s living standards.

Vietnam will continue to maintain political stability, social order and safety, consolidate a peaceful and stable environment for development, and ensure the legitimate and legal rights and interests of investors, while promoting reduction and simplification of administrative procedures, constantly improving the investment environment to make sure that investors feel secure in doing business and operating long-term and effectively in Vietnam, he pledged.

He proposed the continuous promotion of the spirit of “harmonised interest, shared risk” and the companion between the State, businesses, and the people.

Mentioning power supply, PM Chinh said that in 2024, although power consumption has increased 15% and exceeded a record level of 1 billion kWh per day on some days, power supply has still been ensured. He affirmed that with comprehensive solutions, Vietnam will not suffer power shortage.

At the same time, Vietnam is working hard to transit to green power and considering the issuance of the direct power purchase agreement (DPPA) mechanism.

The Government is about to issue a decree related to implementing the global minimum tax and amending the investment incentive policy from mainly tax incentives to financial, cost, and land incentives for priority projects, he revealed.

The PM said that Vietnam's orientation is to attract investment selectively, prioritising projects in emerging fields and projects with high technology, high added value, and spillover and connection effects, especially those serving new economic growth drivers, promoting digital transformation and green transformation, while strongly developing a number of new breakthrough and strategic fields such as semiconductors and artificial intelligence (AI).

The Vietnamese Government leader mentioned a number of measures to promote green growth, and highlighted Vietnam’s efforts to reduce emissions in agriculture, including the 1-million-hectare high-quality rice project in the Mekong Delta, the first of its kind in the world.

Vietnam is greatly interested in experience, mechanism proposals and policy recommendations, he stated, asking the WEF and partners to strengthen cooperation with Vietnam in consulting and contributing to the development and planning of appropriate and effective policies, and create favourable conditions for Vietnam in engaging in WEF initiatives and ecosystems.

He proposed that the WEF and partners continue promoting the important role in connecting, supporting and encouraging businesses and investors to seek opportunities and conduct cooperation and investment in Vietnam, thus contributing to the fast and sustainable growth of the Vietnamese economy./.

Hung Yen egg-shaped lychees sell well

Egg-shaped lychees from the northern province of Hung Yen are much sought-after and sell quicky despite the high prices of about 150,000 VND (5.9 USD) per kg.

Lychee farmers in Hung Yen are rushed off their feet these days harvesting their egg-shaped lychees. The size of chicken eggs and with a nice appearance and sweet aroma, the lychees have won favour among consumers from far and wide. Locals said this year's output decreased due to unfavourable weather, but the prices have stayed high.

Mai Van Quyet, Director of Quyet Tien agricultural cooperative, Phan Sao Nam commune, Phu Cu district said that the cooperative has more than 60 hectares of egg-shaped lychees certified to meet VietGAP standards with an estimated output of 100 tonnes.

Hung Yen province is now home to over 1,300 hectares of lychee, which mainly concentrate in Phu Cu and An Thi districts, producing more than 250 tonnes each season. The trademark of Hung Yen egg-shaped lychee has been certified by the Intellectual Property Office of Vietnam, under the Ministry of Science and Technology in 2020 and the fruit was ranked a four-star product under the One-Commune-One Product (OCOP) programme by the provincial People’s Committee.

Vice Chairman of the People's Committee of Phu Cu district Vu Xuan Thuy said that in the 2024 crop year, Phu Cu early lychees and Hung Yen egg- shaped lychees are in season from the end of May and early June, 10-15 days earlier than other lychees on the market. The output of lychee in 2024 in the district is estimated at 13,500-14,000 tonnes.

According to the Vice Chairman, in an attempt to improve the brand and value of lychee products, in recent years, the district has actively organised several programmes to help boost consumption of lychees and agricultural products of the locality. This is an opportunity for local farmers and cooperatives to promote production, access more distributing points to reach domestic and foreign consumers. Therefore, over the years, Phu Cu early ripening lychees and Hung Yen egg-shaped lychees have always been popular with businesses, traders and consumers near and far.

In the coming time, the district will continue to convert rice land to crops with high economic value associated with the implementation of mechanisms and policies to support farmers, with a focus on planting egg-shaped lychees in communes in the northern area of the province and early-ripening lychees in the southern area. At the same time, the district will continue to build brands and trademarks for key agricultural products; use traceability stamps to protect the locality’s brand and maintain the quality and reputation of the products.

Besides, the district will also form links from production to processing, preservation and sales to create production stability.

According to Nguyen Huu Long, Chairman of the People's Committee of Phan Sao Nam commune, Phu Cu district, in order to popularise Hung Yen’s egg-shaped lychees, in the coming time, the locality will continue to invest in rural roads; renovate and upgrade drainage canals and ditches system to serve the lychee planting area while actively transferring science and technology to farmers to preserve the locality’s specialty./.

Vietnam Airlines launches Hanoi - Chengdu air service

National flag carrier Vietnam Airlines on June 25 launched a direct air route linking Hanoi with China’s Chengdu city, with a frequency of four flights a week, on Tuesdays, Wednesdays, Fridays, and Sundays.

The first flight, coded VN 552, departed Noi Bai International Airport at 11pm on June 25 (Hanoi time) and landed at Tianfu International Airport of Chengdu at 2:05am on June 26 (Chengdu time).

Meanwhile, the flight back, coded VN 553, took off at 3:05am (Chengdu time) and arrived in Hanoi at 4:20am (Hanoi time) on June 26.

This route is an important part of Vietnam Airlines' strategy to expand its international flight network, making it easier for tourists to travel between Vietnam and China.

On this occasion, Vietnam Airlines is offering a promotional programme with attractive round-trip ticket prices from only 5.635 million VND (221.2 USD), applicable to flights from Hanoi to Chengdu.

The programme applies to tickets purchased between now and July 31, 2024, for journeys departing from June 25 to July 31 this year. Tickets are available on the website, mobile application, ticket offices, and official agents of the carrier./.

H1 tariff revenue of Quang Ninh rises 21%

The northern province of Quang Ninh estimates that more than 9.4 trillion VND (nearly 369.3 million USD) in export and import tariffs will be collected for the state budget during the first half of 2024, up 21% year on year.

The provincial Customs Department said the sum is equivalent to 76% of this year’s target.

In particular, the customs sub-department at Cam Pha Port has collected an estimated over 4 trillion VND for the budget, representing more than 60% of this year’s target.

Head of the sub-department Ngo Xuan Hiep said the coal import volume surged during the first months of 2024, so revenue from this commodity makes up over 90% of his unit’s total collection.

Coal imported via Cam Pha is predicted to reach 17 - 20 million tonnes this year, he noted.

The Quang Ninh Customs Department was assigned to collect more than 13 trillion VND for the state budget in 2024.

To that end, it will continue ordering its subordinate units to take drastic actions, including reviewing the revenue sources that still have room to be tapped into, and preventing losses.

The department is coordinating with authorities at border gates to effectively take measures for attracting businesses, increasing the volume of goods traded through the province, accelerating customs clearance, and facilitating export and import via border gates and crossings. It will also perfect and improve working groups’ capacity to better give guidance to and settle obstacles facing businesses, the department added./.

Policy on security in online banking service provision drafted

The State Bank of Vietnam (SBV) has finalised a draft circular on safety and security in providing online services in the banking industry.

Under the draft circular, the online banking system must comply with the Government’s current regulations on ensuring the information system security at Grade 3 or higher.

According to the Law on Cyberinformation Security 2015, classification of information systems by security grade means the determination of information security grades of information systems in an ascending order from 1 to 5.

Grade 3 means that when an information system is sabotaged, it will seriously harm production, public interests and social order and safety or will harm national defence and security.

According to the draft circular, the online banking system must also ensure the confidentiality and integrity of customer information and the availability to provide services continuously.

Customer transactions must be assessed for minimum risk according to each customer group, transaction type and transaction limit to enable the provision of appropriate forms of transaction authentication for customers.

The draft circular requires banks to carry out annual security and confidentiality inspections and assessments of the online banking system.

In addition, banks must regularly identify potential risks and determine the causes of the risks in providing online banking services to promptly take measures to prevent, control and handle those risks.

Information technology infrastructure and equipment that are used to provide online banking services must have copyright and origin. For equipment that is nearing the end of its product life cycle and will no longer be supported by the manufacturer, banks must have an upgrade and replacement plan according to the manufacturer's announcement to ensure the equipment to be installed with new software versions.

Besides having firewalls and monitoring and warning systems against unusual behaviour, banks must also establish a mechanism to detect and prevent intrusions and network attacks on their online banking system, according to the circular drafts.

According to Tran Quang Hung, Deputy Director of the Ministry of Information and Communications’ Information Security Department information security in the banking system plays an important role.

With a large amount of bank and customer data, the security of customer information in particular and banking data in general is mandatory for all credit institutions. Therefore, banks need to be equipped with modern technology and constantly strengthen their capacity as well as invest in security.

Sharing that view, Phan Viet Linh, Director of CDNetworks Vietnam, said the speed of digital transformation in the finance and banking sector in Vietnam was accelerating.

At the same time, banks often face attacks from high-tech criminals attempting to steal customer data to conduct property appropriation fraud. Therefore, banks must strengthen defence measures to ensure safety and security in their systems./.

Vietnamese firm joins Global Dairy Congress

The Vietnam Dairy Products Joint Stock Company (Vinamilk) is the only Vietnamese representative to join the 17th Global Dairy Congress that takes place in London, the UK from June 25-26.

This is the fourth time that Vinamilk has participated in the annual event, which connects businesses, suppliers, distributors and customers in the dairy industry.

At this year’s congress, themed “Healthy People, Healthy Planet,” the Vietnamese firm sent out the message of “care to change,” and shared its strategic innovations in four directions - future generations, better nutrition, customer experience and sustainable future, said Nguyen Quang Tri, Executive Director for Marketing of Vinamilk.

These aspects will create momentum for the strong development of Vinamilk and the dairy industry in general in the global picture, he believed.

Vinamilk is currently in the top five most sustainable milk brands globally. In 2023, the company officially announced the net zero target roadmap to 2050. Less than one year later, it had three units, comprising one farm and two factories, certified as having neutralised emissions according to the PAS2060:2014 standard. This impressive result drew attention from participants at the congress.

Richard Hall, Chairman of the Global Dairy Congress, hailed Vinamilk's green production model, which has proved that the implementation of appropriate policies would help optimise natural properties for the food, dairy and nutrition industries.

Hall held that the factor of “care” in Vinamilk’s message will have a positive impact on consumers.

Meanwhile, Dr. Timothy Robinson, an independent consultant for the Global Dairy Platform (GDP), said that as Vietnam is one of the countries that have embarked early on the sustainability process, domestic businesses should join initiatives of the global dairy sector in sustainable development and seek sponsorship opportunities in the field.

Founded in 1976, Vinamilk is currently in the top 40 largest dairy companies globally by revenue and is the sixth most valuable dairy brand globally at 3 billion USD, according to the UK’s Brand Finance.

The company currently provides 250 types of products and exports them to 60 countries and territories, with a total revenue in 2023 reaching 60.47 trillion VND (2.37 billion USD at current exchange rate)./.

Binh Dinh promotes investment, trade, tourism ties with India

The People’s Committee of the central province of Binh Dinh and the Indian General Consulate in Ho Chi Minh City on June 25 held a conference on investment promotion, trade and tourism development with Indian partners.

About 40 Indian businesses attended the event.

Secretariat of the provincial Party Committee Ho Quoc Dung said that the province strives to become a hub of science and technology, and innovation, and an important place to apply artificial intelligence (AI) in Vietnam.

It targets a sustainable economic development based on the pillars of manufacturing and processing industry, information technology industry, AI, high quality tourism, organic agriculture and effective logistics system, which are all India's strengths.

Indian Consul General Madan Mohan Sethi said that many Indian businesses and investors are exploring Vietnamese market to seek investment and cooperation opportunities, adding his office is ready to support connecting Vietnamese businesses with leading Indian corporations.

Chairman of the Binh Dinh provincial People’s Committee Pham Anh Tuan said that the province has established a working group to support businesses in early stages when they invest in the province.

At the conference, the two sides signed a Memorandum of Understanding (MoU) for cooperation, while their associations and agencies also inked others on tourism and forestry.

In the first five months of this year, Binh Dinh’s export values are estimated at 736.9 million USD, up 19.6% year over year. Of that, the province’s exports to Indian reached 1.1 million USD, mainly cassava roots and products, fruits, wood, wooden products, garments, machinery, equipment, and spare parts./.

More than 200 enterprises participate in ENTECH HANOI 2024

The International Exhibition on Energy and Environmental Technology Hanoi 2024 (ENTECH HANOI 2024) officially opened in the morning of June 26.

The event, directed by the Hanoi People's Committee and organised by the Hanoi Department of Industry and Trade in coordination with Busan City, the Republic of Korea and other related units, showcases over 200 enterprises from Vietnam, the Republic of Korea, India, China and Singapore. More than 250 booths feature the latest energy-saving technologies.

Key activities at the exhibition include the Vietnam Energy Transition Forum 2024, the Green Technology Forum in the Battery, Accumulator and International Energy Storage Sector 2024, the Vietnam-Korea-China Business Forum, business networking, consultations, specialised seminars and promotional programmes for energy-saving and environmental protection solutions and technologies.

These forums aim to provide opportunities for enterprises in these fields to showcase technologies, introduce products to a broad audience and enable experts from government agencies and city departments to gain insights into the latest global battery and energy storage technologies.

Tran Thi Phuong Lan, acting director of the Hanoi Department of Industry and Trade, said, “ENTECH HANOI 2024 promises to create a vibrant trade environment and foster business cooperation in the field of energy efficiency and the environment. It will help Vietnamese enterprises access modern, high-tech and clean energy solutions, connect with advanced global technologies, facilitate technology transfer and promote business development.”

In line with the Net Zero commitment, the ENTECH HANOI 2024 organisers have guided participating enterprises to focus on key areas including environmental treatment (waste, sludge and exhaust gas treatment), residential and industrial water treatment, new and renewable energy, energy-saving technologies and batteries and energy storage.

Over the past 14 years, the fair has enhanced its quality, reputation and international stature, effectively connecting businesses in the energy and environmental sectors.

It has particularly attracted participation from major enterprises from the Republic of Korea, Japan and the EU, providing and promoting advanced, high-tech, energy-saving and pollution-reducing technologies to the business community.

India becomes second biggest importer of Vietnamese rubber in five months

Vietnam was India’s second largest supplier of rubber during the first five months of this year, according to data released by the Ministry of Industry and Trade’s Agency of Foreign Trade.

The reviewed period witnessed the country export 47,230 tonnes of rubber to India for US$75.79 million, up 42.8% in volume and 63.5% in value compared to the same period last year.

May alone saw businesses ship 9,470 tonnes of rubber to the South Asian country, raking in US$15.83 million, up 7.2% in volume and 6.8% in value month on month.

Natural rubber from the Vietnamese market is the primary product exported to India. Particularly, the SVR 10 accounted for the largest portion of the total exported rubber at 61.81%, followed by SVR 3L and RSS3 at 24.85% and 5.29%, respectively.

The average export price of various types of rubber to India in the first five months of the year mostly increased compared to the same period from 2023. Of which, latex witnessed the strongest rise with 28.3%, followed by SVR 10 at 13.9%, RSS3 at 13.4%, SVR 3L at 10.6%, and SVR CV60 at 9.4%.

Vietnam joins Algiers International Fair 2024

Over 40 Vietnamese businesses operating in various fields are showcasing their products at the 55th Algiers International Fair 2024 (FIA) that is taking place in the Algerian capital city from June 25-29.

Vietnamese Ambassador to Algeria Tran Quoc Khanh said the fair is an opportunity to promote trade between Vietnam and Algeria, as well as African, European and American countries, contributing to promoting the Southeast Asian nation's image to international friends.

Data from the Vietnam Trade Office in Algeria showed that trade between Vietnam and the African country reached 250 million USD last year, an increase of 68% compared to 2022. The figure was estimated to hit 95 million USD in the first four months of this year, up 5.5% year-on-year. Vietnam's main export items included agricultural products, unprocessed coffee bean, pangasius and basa fish fillets, and chemicals.

The five-day event has attracted the participation of nearly 700 companies, including 200 firms from more than 30 countries and territories worldwide, specialising in many sectors such as energy, construction, agriculture, industry, services, mechanics, garment-textile, electronics, shipbuilding, aviation, environment, and education.

Covering an area of nearly 50,000 sq.m, the fair is expected attract up to 400,000 visitors./.

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