The southern province of Tra Vinh has approved an investment worth 576 billion VND (23.26 million USD) to develop a petroleum storage terminal project by the Tra Vinh Petrochemical and Energy Joint Stock Company.

The project is developed on an area of more than 46ha in Kim Son commune, Tra Cu district. It will build a petroleum storage with a capacity 50,000cu.m and a terminal which is capable of receiving 20,000 tonne vessels.

The project is expected to be put into commercial operation by November 2026.

Tra Vinh has granted licences to four projects since the beginning of this year, included three domestic investment projects with a total capital of 967 billion VND and a foreign investment project worth 2 million USD.

There are 384 valid projects in the province, including 39 FDI projects worth 3 billion USD and 345 domestic investment projects worth 143.3 trillion VND.

Vice Chairman of the provincial People’s Committee Nguyen Quynh Thien said that the province is calling investments in 35 projects this year, adding that Tra Vinh will strive to further improve the investment climate, administrative reform and dialogues with investors./.

HoREA proposes additional preferential policies for social housing projects

The HCM City Real Estate Association (HoREA) believes that in addition to focusing on removing procedural obstacles, the city proposes that the Government need to supplement or increase preferential policies for social housing investors.

According to HoREA, to promote the implementation of social housing projects, contributing to increasing the supply of social housing, the first difficulty is to remove obstacles to construction investment procedures of social housing. Currently, social construction procedures are much more difficult than commercial housing construction procedures.

Procedural problems are one of the biggest reasons why the country's social housing development results in the 2016-2020 periods only reached about 41 per cent of the plan. Among them, the City has reached 75 per cent of the plan. However, the actual number was only 15,000 social housing units, not meeting the city's huge social housing needs.

Similarly, in the period 2021-2023, the country only completed 72 social housing projects with 38,128 units, which reached 8.5 per cent of the five-year plan 2021-2025 of 446,000 units.

Meanwhile, the City has only completed and put into use two social housing projects with 623 units and has started construction on seven social housing projects with 4,996 apartments, but due to legal procedures, it is nearly as if construction could not be carried out.

Social housing projects where businesses create their own land funds also encounter legal procedures.

This results in blocking almost all investment approval procedures. This is the first procedure; if investors cannot follow this procedure, all subsequent construction investment procedures will be blocked.

From the above reality, HoREA recommends that the Government urgently focus on immediately removing legal obstacles in investing social housing projects.

Regarding land funds for social housing development, HoREA recommends that localities fully allocate land funds for social housing development to select capable investors and effectively exploit and use the allocated land funds to develop social housing, overcoming the situation of wasting land resources as happened before.

To attract businesses to invest in social housing, HoREA recommends adding or increasing preferential policies for investors of social housing projects to encourage and attract more investors.

HoREA proposed that the Government consider increasing the standard profit for investors of social housing projects from 10 per cent to 15 per cent in cases of businesses creating their own land funds by buying land from individuals and households to implement social housing projects.

In addition, regarding the issue of construction capital, the Government should consider allowing investors to mortgage the social housing project itself after having a land fund, instead of having to mortgage another asset.

Instead of just building social housing for sale, the Government needs to consider leasing.

The sociological report of the City Labour Federation shows that about 60 per cent of migrant workers only need to rent a house with a rental cost of about 20 per cent of their monthly income for about 10-15 years and then return to their hometown.

To meet the rental needs of workers, the city currently has about 60,000 individuals and households investing in more than 560,000 boarding houses for rent. This contributes to solving the housing rental needs of more than 1.4 million immigrant workers.

From this reality, the Government needs to consider supplementing credit support policies for these landlords to build new, expand and upgrade boarding houses to serve rented workers.

Connecting with FDI firms helps boost wood exports: insiders

Strengthening linkages and cooperation between foreign-invested and domestic enterprises will contribute to promoting the sustainable development of the Vietnamese wood industry, according to insiders.

Statistics from the Vietnam Timber and Forest Product Association (VIFOREST) show that in 2023, the number of FDI enterprises exporting wood and wood products accounted for only 18.8% of the total number of wood exporters in the country, but their export turnover hit 6.24 billion USD, equivalent to 47.4 % of the total of this industry.

Last year, the sector attracted 57 new FDI projects worth around 300 million USD, of which Chinese-invested projects accounted for 49.1% of the total number of projects and 35.5% of the total value.

Cao Thi Cam, an expert from the VIFOREST, said that an increase in activities of FDI enterprises, including export, is partly a result of new-generation free trade agreements that Vietnam is participating in, and partly thanks to the advantage of geographical location and the development of the country's wood industry ecosystem.

To Xuan Phuc, a policy analyst at Forest Trends Organisation, stated that the superiority of FDI enterprises operating in the wood industry needs to be summed up and used as a foundation to create a spill-over effect to domestic firms.

According to Phuc, the connection between FDI and domestic enterprises remains limited at present. Therefore, the government and wood associations need to promote the formation of a suitable institutional and policy environment to encourage the establishment of linkages and the sharing of benefits and responsibilities of the business community./.

National telecom group's AI platform logs over 1 billion authentication requests

The VNPT eKYC – an artificial intelligence (AI) platform developed by the Vietnam Posts and Telecommunications Group (VNPT) for electronic identification and verification – has freshly recorded over 1 billion user requests, establishing itself as the first of its kind in Vietnam to reach this mark.

After half a decade of providing its electronic Know Your Customer (eKYC) service, the VNPT has served over 100 banks, financial institutions, telecom and e-commerce entities, facilitating the electronic identification for over 40 million people.

The VNPT eKYC system processes an average of 600,000 requests per day, with over million requests handled on peak days.

The State Bank of Vietnam has issued a decision requiring credit institutions to implement biometric authentication for transactions exceeding 10 million VND (416 USD) and other significant ones starting from July 1, 2024.

Experts assess that opting for domestic solutions is the optimal choice for banks and financial institutions due to their rapid implementation and reasonable costs. They also adhere to global technology standards, offering scalability and high readiness.

Thanks to advanced AI models, the VNPT eKYC boasts a capability to verify facial biometric data with an accuracy of up to 99.99%./.

HCM City improves inner-city tourism products

Ho Chi Minh City is boosting investment to improve inner-city tourism products to further position its branding on domestic and international tourism maps.

As a tourism hub in Vietnam, the city is a destination preferred by domestic holidaymakers, and has been a potential tourism market listed in the world’s tourism rankings for years.

In the middle of this month, Singapore-based DesinAsia magazine announced Ho Chi Minh City as one of the 10 best city in Asia-Pacific together with Bangkok (Thailand), Tokyo (Japan), Singapore, Kuala Lumpur (Malaysia), Hong Kong (China), Seoul (Korea), Sydney (Australia), Shanghai and Taiwan (China).

The DesinAsia also named the 10 best hotels in Vietnam, with five of them in Ho Chi Minh City.

Early this month, the city was awarded “Asia’s Best MICE Destination” for the fourth year in a row. It was announced at the 4th annual World MICE Awards gala ceremony held on March 6 in Berlin.

The award is a recognition of the continued efforts of the city’s tourism sector and demonstrates global confidence in the city’s tourism potential, said Bui Thi Ngoc Hieu, deputy director of the HCM City Department of Tourism.

With its efforts to improve tourism quality services and attract more visitors, Ho Chi Minh is on track to position its tourism brand domestically and internationally.

Popular tourist attractions across the city such as Binh Tay market in District 6, the city’s Post Office and Ben Thanh market in District 1 are usually busy with domestic and foreign visitors.

In 2024, the city targets to attract at least 6 million foreign visitors and 38 million local tourists and get tourism revenue of at least 190 trillion VND (7.6 billion USD).

Once visiting Ho Chi Minh City, tourists are offered various tours with a wide range of prices and schemes.

Tran Thi Bao Thu, Communication and Marketing Director at Vietluxtour said that the tour operator is exploiting many city tours for both domestic and international tourists with dozens of cultural and historical destinations.

She said that this year, her company continues to promote its strength in offering cultural and historical tours combined with local restaurants, particularly Michelin-star ones./.

Doosan Vina exports nearly 2,000 tonnes of modules to US

The Doosan Enerbility Vietnam (Doosan Vina) specialising in heavy industries announced on March 26 that it has just exported a batch of nine modules weighing nearly 2,000 tonnes to the Golden Triangle Polymers company in Texas, the US.

They are part of a project signed between Doosan Vina and ZDJV, a joint venture between Zachry Industrial Inc. and DL USA Inc., and CPChem on February 7, 2023.

The remaining nine modules are expected to be handed over on April 16.

The module is currently one of the key products of Doosan Vina, which is based at the Dung Quat Economic Zone in the central coastal province of Quang Ngai.  The company has been producing 140 modules for foreign customers in the United Arab Emirates, Malaysia, Singapore, Qatar, and the US./.

Vietnamese overseas businesses play key role in efforts to build nation

Vietnamese overseas business communities play an important role in Việt Nam's nation-building efforts, heard participants at the business forum: Enhancing Việt Nam-Canada Economic Relations within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), held yesterday. 

Nguyễn Mạnh Đông, deputy chairman of the State Committee for Overseas Vietnamese Affairs, under the Ministry of Foreign Affairs, said Vietnamese overseas business communities have been growing strong in recent years, along with Việt Nam's rapid economic and trade development.

He said the Vietnamese business community is present in over 130 countries and territories, with 30 business associations, serving as an important bridge to promote economic and trade relations between Việt Nam and other countries.

Attending the forum were representatives from the leadership of the Ministry of Foreign Affairs, the State Committee for Overseas Vietnamese Affairs, central and local government departments, former Consul General of Vietnam in Vancouver - Canada, VCBA leadership, members of associations, as well as entrepreneurs and businesses in the fields of export and construction.

The Vietnamese overseas business community in Canada, in particular, has made important contributions to strengthening Việt Nam-Canada economic cooperation across all fields. For example, the Việt Nam-Canada Business Association (VCBA) has organised numerous trade and investment promotion events to help build stronger trade ties between the two nations. 

He said the forum is an opportunity to network and cooperate, and find ways to unlock trade potential between two member countries of the CPTPP, as well as being a platform to share information between both sides. 

Delegate discussed opportunities to export Vietnamese products to the Canadian and North American markets across numerous fields, including construction, textiles, footwear, furniture, wood products, iron and steel, machinery and electrical equipment.

They said the Southeast Asian economy has so far effectively utilised the CPTPP to accelerate exports to Canada, enjoying major benefits such as the Most Favoured Nation (MFN) and the Generalized System of Preferences (GSP). However, they advised the Vietnamese business community to pay attention to challenges from strict requirements and trade barriers in the Canadian and North American markets.

The forum was jointly organised by the Vietnam-Canada Business Association (VCBA) and the State Committee for Overseas Vietnamese Affairs, under the Ministry of Foreign Affairs.

ASEAN countries strengthen product origin transparency regulations

The Import-Export Department under the Ministry of Industry and Trade (MoIT), in collaboration with the ASEAN Secretariat, on Monday convened a session of ASEAN-Korea Experts to discuss the Transposition of AKFTA Product Specific Rules from Harmonised System Codes HS 2017 into HS 2022.

Representatives from South Korea and all 10 ASEAN countries, along with several delegates from member countries participating online, attended the conference.

The conference is scheduled to span three days in Hạ Long City, Quảng Ninh Province.

During the joint session, delegates will review and strive to convert nearly 7,000 tariff lines of the Product Specific Rules (PSR) transposition list in the ASEAN-Korea Free Trade Agreement (AKFTA) from the commodity classification code HS 2017 to HS 2022. Additionally, they will discuss the progress and mechanisms for implementing rules of origin according to the new HS code.

According to the regulations of the World Customs Organization (WCO), the HS code of the harmonised commodity description and coding system is updated regularly every five years to ensure compatibility with international types and commercial needs.

This update also requires that the criteria for determining the origin of goods in free trade agreements, including the ASEAN-Korea Free Trade Agreement, be transformed.

Converting PSR in the AKFTA on time will ensure transparency, helping import-export businesses benefit from the free trade agreement.

Speaking at the conference, Nguyễn Anh Sơn, director of the Import-Export Department, emphasised that converting PSR on time would ensure estimates and transparency for businesses.

Delaying PSR transposition will lead to increased costs and loss of benefits of the ASEAN FTA. A line-by-line review of 7,000 tariff lines will require high focus and great consensus from ASEAN countries and Korea.

ASEAN and South Korea signed the Framework Agreement on Comprehensive Economic Co-operation in 2005, and the Trade in Goods Agreement took effect from June 2007.

To ensure that goods were eligible for preferential tariffs, AKFTA regulated how to determine origin, said Sơn.

In order to implement the AKFTA, the ASEAN - Korea Economic Cooperation Subcommittee deployed the session on origin of goods to convert the list of product rules according to the HS Harmonised System of the WCO.

This conversion will enable importers to conveniently utilize certificates of origin to benefit from special AKFTA preferential tax rates, he added.

Recently, South Korea has continuously been among the leading markets for importing goods from Việt Nam with the highest rate of using FTA preferences.

The Korean market had a preferential certificate of origin usage rate of 52.1 per cent last year, with the turnover of goods with certificates of origin exported to Korea reaching $12.2 billion.

The group of Vietnamese goods exported to Korea with the best rate of using FTA preferences includes seafood (96.32 per cent). Agricultural products such as vegetables, coffee and pepper all have very high rates of using preferential certificates of origin, reaching 91.18 per cent, 94.54 per cent and 100 per cent, respectively; wood and wood products hit 73.76 per cent; and footwear and textiles have a rate of nearly 100 per cent.

Rok, Taiwan increases inspection on imported chili

The Republic of Korea (RoK) and Taiwan have increased the inspection on imported chili, including from Việt Nam, with aims to ensure safety and quality of these food items entering the markets.

The Việt Nam Trade Office in RoK said that it has received a notice from the South Korea’s Ministry of Food and Drug Safety (MFDS) about the re-designation of imported food that must be inspected when entering this market due to high rates of nonconformity.

Accordingly, chili products from Việt Nam will be subject to inspection, including cayenne, capsicum, chili pepper, red pepper, tabasco, for the residues of seven pesticides including diniconazole, tolfenpyrad, tricyclazole, permethrin, dimethoate, isoprothiolane and metominostrobin.

MFDS will extend the inspection order from March 30, 2024 to March 30, 2025 due to imported foods continuously failing to comply with standards and specifications.

Importers must have testing results from MFDS’s approved labs in order to import into RoK.

As of February 2, there are 2024 MFDS-approved laboratories in and outside Korea.

In Việt Nam, there are eight facilities approved by MFDS including: Center for Agroforestry and Fisheries Quality Region I (NAFIQAD I); NAFIQAD II; NAFIQAD III; NAFIQAD IV; NAFIQAD V; NAFIQAD VI; Intertek Vietnam Co., Ltd. - Can Tho branch laboratory; SGS Vietnam Co., Ltd. – Food laboratory.

Việt Nam Economic and Cultural Office in Taipei also received a notice from the Taiwanese authority on increasing inspection on all imported chili.

The move, starting from this month, aims to tighten quality management on imported chili amid safety concerns after some shipments from China were found to contain the banned cancer-causing dye additive Sudan Red III.

Products under increased inspection include fruits of the genus capsicum, crushed or ground, and other fruits of the genus Capsicum, dried, neither crushed nor ground.

According to TFDA’s notice, Taiwan has banned the customs clearance of chili from 21 enterprises from China, one from Việt Nam, one from Thailand and one from Mexico.

The General Department of Customs’ statistics showed that Việt Nam’s chili export totalled US$72 million in 2023, up 34.5 per cent against 2022, making chili one of the most important export vegetable products.

Binh Duong province seeks cooperation opportunities with Australian partners

Investment opportunities in Vietnam’s southern province of Binh Duong were introduced to Australian businesses at a workshop in Sydney city on March 25.

The event was held by the provincial People’s Committee and Becamex IDC Corp in coordination with the Vietnamese Consulate General in Sydney, and Investment New South Wales (NSW).

In his remarks, Consul General Nguyen Dang Thang noted with pleasure remarkable developments of the Vietnam-Australia relationship, with the establishment of the comprehensive strategic partnership earlier this month.

The diplomat also highlighted the dynamism of Binh Duong – a leading locality in foreign investment attraction, and expressed his hope that the province will be a destination for Australian investors.

Karla Lampe, Executive Director, Trade and International, Investment NSW, highlighted the growing relations between Vietnamese localities and NSW, saying the Australian state is interested in enhancing its trade and investment ties with Vietnam.

Nguyen Loc Ha, Vice Chairman of the People’s Committee of Binh Duong province, briefed the participants on the locality’s potential and strengths, as well as its incentives for foreign investors, pledging to facilitate their operations.   
 
He called on Australian businesses to invest in such areas as high-tech, support industries, information-technology, high-tech agriculture, trade, services, infrastructure, and education-training.

Representatives from Australian trade agencies and enterprises expressed their impressions of Vietnam’s outstanding developments, and their wish to contribute to strengthening and deepening the bilateral trade and investment ties.

On March 25 morning, the Binh Duong delegation held a working session with Mohamed Hage, President of the Australia-Arab Chamber of Commerce & Industry, and Dean Kirkwood, General Manager at Resource Industry Network in Mackay city, Queensland, during which they compared notes on future cooperation./.

Railway sector eyes brighter future

With its positive achievements in 2023, the railway sector is working to enhance service quality, improve passenger support policies, and adjust business strategies for better performance in 2024 and following years.

Due to high air fares lingering from 2023 to the first months in 2024, many travelers have switched their choice to trains, resulting in a high rise in railway passengers and strong increase in revenue of the railway sector.

According to the Vietnam Railway (VNR), last year, it earned 8.5 trillion VND (344 million USD), reaching 101.7% of its yearly plan, with 6.1 million tickets sold. The firm’s direct revenue from transportation reached nearly 4 trillion VND.

Notably, VNR’s after-tax profit hit 94.8 billion VND in 2023 compared to a loss of 11.9 billion in 2022. During the Lunar New Year (Tet) festival 2024, the sector sold 720,000 tickets for 436 billion VND.

For the low season from March to May, the sector has rolled out various measures to attract passengers.

Since March 16, the Saigon Railways has sold tickets on daily trains operating during the National Reunification Day (April 30) and May Day (May 1) through May 15.

Meanwhile, discounts from 5%-90% have been applied to various groups of passengers, including policy beneficiaries, the elderly, children, students, persons with disabilities, trade union members, and group passengers.

The sector has also partnered with the tourism one to provide special offers to passengers, and cooperated with the central province of Thua Thien – Hue and Da Nang city to organise a transport-tourism services from March 19.

Accordingly, Hue-Da Nang trains will stop in Lang Co, one of the best bays in the world, enabling passengers to enjoy the beauty of the bay. Meanwhile, local cultural programmes and dishes will be provided in the trains.

VNR Chairman Dang Sy Manh said that in the time to come, the sector will develop a train schedule suitable to infrastructure and vehicle capacity, while completing service price plans and exploiting and trading infrastructure and support services.

Meanwhile, it will enhance the service quality and offer more promotions to compete with other forms of transportation, and coordinate with the tourism sector to develop more services, he said.

Manh added that the sector will engage more deeply into the logistics chain and increase the transport of containers./.

Connecting with FDI firms helps boost wood exports: insiders  
 
Strengthening linkages and cooperation between foreign-invested and domestic enterprises will contribute to promoting the sustainable development of the Vietnamese wood industry, according to insiders.      

Statistics from the Vietnam Timber and Forest Product Association (VIFOREST) show that in 2023, the number of FDI enterprises exporting wood and wood products accounted for only 18.8% of the total number of wood exporters in the country, but their export turnover hit US$6.24 billion, equivalent to 47.4 % of the total of this industry.

Last year, the sector attracted 57 new FDI projects worth around US$300 million, of which Chinese-invested projects accounted for 49.1% of the total number of projects and 35.5% of the total value.

Cao Thi Cam, an expert from the VIFOREST, said that an increase in activities of FDI enterprises, including export, is partly a result of new-generation free trade agreements that Vietnam is participating in, and partly thanks to the advantage of geographical location and the development of the country's wood industry ecosystem.

To Xuan Phuc, a policy analyst at Forest Trends Organisation, stated that the superiority of FDI enterprises operating in the wood industry needs to be summed up and used as a foundation to create a spill-over effect to domestic firms.

According to Phuc, the connection between FDI and domestic enterprises remains limited at present. Therefore, the government and wood associations need to promote the formation of a suitable institutional and policy environment to encourage the establishment of linkages and the sharing of benefits and responsibilities of the business community.

FDI inflows in Vietnam sees upsurge of 32.1%: annual report
 
While global foreign direct investment (FDI) last year increased by just 3%, FDI inflows into Vietnam witnessed an upturn of 32.1%, thereby affirming the attractiveness of the local investment climate, according to the 2023 FDI annual report released on March 26.

Most notably, the majority of FDI inflows was poured into processing and manufacturing, with capital reaching US$23.5 billion, accounting for 64.2% of total newly registered capital. 

Ho Chi Minh City was the leading FDI attractor last year with a total registered capital of US$5.85 billion, followed by Hai Phong, Quang Ninh, Bac Giang, and Thai Binh. 

Notably, international organisations and foreign investors continue to highly appreciate the Vietnamese investment environment. According to assessments conducted by the Korean Chamber of Commerce (KOCHAM), the Japan External Trade Organization (JETRO), the European Chamber of Commerce in Vietnam (EuroCham), and the American Chamber of Commerce in Vietnam (AmCham), foreign investors' confidence in the country is increasing and remains optimistic.

However, these organisations also pointed out a number of shortcomings in the business climate, including cumbersome administrative procedures leading to rising business costs, inadequacies occurring in infrastructure system, a general shortage of high-quality human resources, and slow progress in the green transition process. 

Experts therefore underlined the importance of changing the mindset in order to selectively attract FDI with a focus on high-quality FDI capital flows.

They also set out solutions for effectively attracting FDI capital flows by fine-tuning the legal system, focusing FDI inflows into high-tech industries, including the semiconductor industry, and strengthening supply chain linkages of Vietnamese enterprises with FDI firms, especially with transnational corporations.

Think tanks also emphasised the need to accelerate infrastructure upgrade, especially in the fields of energy, digital media, and transportation, alongside promoting the national administrative reform and strengthening the training of a highly-qualified workforce.

Vietnamese shrimp gains firm foothold in Chinese and US markets

Vietnamese shrimp exports to China and the United States enjoyed strong growth during the opening two months of the year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).       

Specifically, shrimp exports to China and Hong Kong (China) skyrocketed by 143% to more than US$81 million in value against the same period last year.

Ta Thi Kim Thu, a VASEP expert, attributed the rising import demand to the Lunar New Year festival, China’s reduction in shrimp imports from Ecuador, and a higher quality of Vietnamese shrimp.

Meanwhile, Vietnamese shrimp exports to the United States in the reviewed period also soared by 26% to US$72 million.

The average price of Vietnamese shrimp in the US also rebounded after falling to its lowest level in November last year.

VASEP predicted that the sales of fresh and frozen seafood products to the US are forecast to stabilise this year after experiencing a downward trajectory last year amid global high inflation and tightened spending.

Insiders pointed out that compared to major shrimp suppliers in the US such as India, Ecuador, and China, Vietnam can be considered a more promising provider as the recent establishment of the comprehensive strategic partnership between Vietnam and the US have opened up a wealth of opportunities for Vietnamese goods to gain further entry into the demanding market.

Moreover, the US has advocated increasing purchases from other countries whilst moving to reduce reliance on Chinese goods.

Most recently, the 2024 Seafood Expo North America which took place from March 10 to 12 and attracted the participation of a large of number of shrimp exporters worldwide, is expected to provide bright export prospects for Vietnamese shrimp.

According to experts, the shrimp industry is projected to encounter a number of challenges, including epidemics in farmed shrimp and weak demand occurring in several markets. It is therefore required to focus on the farming stage as it strives to increase its competitiveness by creating value-added products.

Over 500 firms to take part in Smart City Asia expo, forum

The 2024 Smart City Asia International Expo and Forum will be held at the Saigon Exhibition and Convention Centre in HCM City from April 17 to 19.

It is expected to have 800 booths set up by more than 500 businesses from various countries and territories to showcase advanced technologies and solutions for smart cities, smart homes, smart buildings, smart lighting, closed-circuit television, semiconductor technologies, smart payment methods, green technologies in smart manufacturing, and robots.

There will be national pavilions from the Republic of Korea, India, Finland, China, and Russia.

Major Vietnamese telecommunications and technology corporations such as Viettel, VNPT, Mobifone, and FPT will take part.

An international forum and seminars will be held during the event on topics such as smart city development strategy with a green and sustainable development orientation, smart city solutions towards a safer society and smarter life and AIoT applications in smart cities for green development.

There will also be a business matching programme, meetings with city leaders and tours to the city’s new-style smart urban areas.

Smart City Asia aims to create a premise to promote public-private partnerships for building smart cities, thereby taking advantage of and effectively exploiting social resources to solve challenges of modern urbanisation through digital technology platforms, according to the organisers.

It will also serve as a forum for management agencies and Vietnamese and foreign experts to meet and share orientations, strategies, solutions, and practical management tools for smart city development, and offer businesses a good opportunity to introduce their technologies and seek potential business partners, they added.

Organised by Exporum Co Ltd, Vietnam Automation Association, the Vietnam Digital Communications Association, HCM City Computer Association, and the Vietnam Institute of Digital Transformation and Innovation, Smart City Asia is expected to attract over 16,000 local and foreign visitors, including officials from ministries, other government agencies and provinces and cities, and executives from local and foreign firms.

Smart City Asia 2024 will be held concurrently with the 2024 Vietnam International LED/OLED & Digital Signage Show (Ledtec Asia) at the same venue.

Ledtec Asia will have over 400 booths set up by leading businesses in LED/OLED lighting technology and equipment.

They will introduce the latest lighting technologies, digital advertising signage, display solutions, smart devices, and electronic chips for smart lighting and energy saving.

Da Nang to promote semiconductor cooperation with US: Official

Standing Vice Chairman of the People’s Committee of the central city of Da Nang Ho Ky Minh on March 26 hosted a reception for US Consul General in Ho Chi Minh City Susan Burns, during which he expressed his hope for stronger cooperation with the US in the semiconductor industry.

Minh said that in March, Da Nang's leaders made a working trip to the US, during which they worked with many organisations and businesses to propose cooperation in human resources training programmes for Da Nang and introduced the city’s business environment as well as policies to attract investment in the semiconductor industry.

On March 26, Da Nang launched a training course on semiconductor integrated circuit (IC) with the support from the US’s Synopsys company, he noted, adding that this is a step forward in developing the contents of the memorandum of understanding between the city and Synopsys on cooperation in the field of semiconductors.

Minh said the city hoped that the US Consulate General in HCM City will assist Da Nang in accessing the International Technology Security and Innovation (ITSI) Fund under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of the US, thus helping the city in human resources training and developing the assembly, test, and packaging (ATP) stage.

In the near future, Da Nang will soon establish a working group to promote cooperation between Da Nang and the US, aiming to work with the US Consulate General in HCM City to discuss cooperation in various fields between the two sides, he said.

For her part, Burns said that thanks to recent visits by Da Nang's leaders, US firms have increasingly been interested in the city, which they described as a promising investment destination.

The US diplomat expressed her hope that along with cooperation in traditional areas, the US and Da Nang will expand collaboration in other fields such as semiconductor chips, renewable energy, finance, and seaports.

Da Nang now has cooperative relations with three US cities, namely Oakland in California, Pittsburgh in Pennsylvania, and Houston in Texas.

As of the end of October 2023, Da Nang had hosted 82 valid US-funded projects worth 831 million USD, accounting for 8% of the project number and more than 19% of the investment capital of the city, mostly in the fields of tourism, real estate, high technology, and supporting industries. The results made the US the third largest investor among 45 countries and territories investing in the central economic hub.

Meanwhile, more than 20 firms of Da Nang have engaged in import-export activities with the US. In the first half of 2023, Da Nang’s exports to the US reached 205 million USD.

The US is running four ODA projects in Da Nang with total capital of 46.57 million USD, while US non-governmental organisations are funding nine projects in the city.

Regarding educational cooperation, as of 2019, Da Nang University had signed cooperation agreements with 30 reputable partners in the US, while coordinating with leading US technology enterprises such as Intel, Boeing, Microsoft and IBM./.

Quảng Trị’s $580m deep-water port commences construction after 4-year delay

The Mỹ Thủy deep-water port project in Quảng Trị Southeast Economic Zone commenced construction on Monday after a four-year delay.

Approved by the Prime Minister on January 4, 2019 with total investment of VNĐ14.2 trillion (US$580 million), this project holds strategic importance for Quảng Trị Province, serving not only the local industrial parks but also facilitating cargo flow along the East-West Economic Corridor (EWEC) which links Việt Nam, Laos, Cambodia, Thailand and Myanmar.

The port covers 685 hectares encompassing 10 piers which will be built in three phases until 2036. The first four wharves are scheduled to be operational by 2025 and capable of accommodating up to 100,000 tonne-capacity vessels by 2025.

The project's investor Mỹ Thủy International Port Joint Venture Company pledged to commence construction without delay, ensuring the commitment of putting the first wharves into operation by the end of 2025.

Võ Văn Hưng, Chairman of Quảng Trị Provincial People's Committee, emphasised the importance of prompt action by the investor and reaffirmed the province’s full cooperation with the investor throughout the project’s implementation.

Initially launched on February 27, 2020, the construction faced delays due to challenges in capital contribution by foreign partners and land clearance issues.

Hanoi faces difficulties in developing organic agriculture

Although several organic agriculture models have been developed in Hanoi, generating positive results, the city still faces some obstacles in expanding the models to large-scale commercial production.

The city has over 197,000 ha of agricultural land but organic farming has just been practiced on about 2,000 ha of crops and over 10 ha of aquacultural areas.

Vu Thi Huong, director of the Hanoi Agriculture Promotion Centre said that the economic efficiency of organic agricultural production models is usually 10- 20% higher than conventional production. 

By participating in the models, farmers have their knowledge and skills improved. They also change the way of thinking and working to better meet consumers’ demand, she said, noting that qualified organic products can enter supermarkets, convenience stores, and collective kitchens more easily.

Talking about the difficulties that organic agriculture is facing, Trinh Thi Nguyet, director of Dong Phu Organic Agriculture Cooperative in Hanoi’s suburban district of Chuong My said that the costs of organic agriculture production remain high, making organic products less competitive than conventional ones.

Moreover, organic products don’t look good or yet have differences to attract consumers, which results in instable consumption.

General Director of Bao Minh Agricultural Processing and Trade Joint Stock Company Bui Thi Hanh Hieu said that to overcome difficulties and expand organic agricultural areas, farmers need support in accessing scientific and technological applications and meeting organic production standards.

Authorities also need to pay more attention to building brands for local organic products and helping farmers connect with businesses and boost trade promotion.

In efforts to limit the negative impacts of agricultural production on the environment, Hanoi has been implementing a project on organic agriculture development in the 2021-2025 period, under which organic agriculture will be combined with eco-tourism and hi-tech organic production.

Deputy Director of the city’s Department of Agriculture and Rural Development Nguyen Manh Phuong said that to promote organic agriculture, localities need to strengthen communications to raise public awareness of organic products, particularly among producers, businesses and consumers.

Meanwhile, localities need to focus on developing concentrated organic agricultural production areas and key products, creating favourable conditions to attract investors to organic agricultural models in closed chains from production, processing to distribution./.

Thai Binh boosts investment, trade cooperation with Germany

A delegation from the northern province of Thai Binh, led by Deputy Secretary of the provincial Party Committee Nguyen Khac Than, visited several localities and business organisations in Germany from March 25 to 27, in a bid to enhance trade cooperation with and attract direct investment from the European nation.

While in Germany, the delegation held a working session with the authorities of Hanover, the capital and largest city of Lower Saxony state.

Speaking at the event, Than, who is also Chairman of the Thai Binh People’s Committee, expressed his wish to promote cooperation between the province and Hanover in the coming time.

Thai Binh also seeks to attract German investment in such fields as healthcare, pharmaceuticals, and labour cooperation, he noted, adding that the province plans to establish the first biopharmaceutical industrial park in Vietnam.

Than and Mayor of Hanover Thomas Hermann also witnessed the signing of a memorandum of understanding on cooperation between the provincial Department of Planning and Investment and Hannoverimpuls GmbH – the economic development agency of the city and Hanover region.

Accordingly, both sides agreed to collaborate in supporting companies from the Hanover region to expand business activities in Thai Binh, and vice versa. They also concurred to cooperate in exchanging information and business delegations, organising and participating in conferences and seminars, providing consulting services on the current situation and prospects of industries, and supporting the search for partners in marketing, science, and technology.

The delegation then worked with the Chamber of Commerce Hannover to introduce the province and its investment opportunities.

They also organised a forum for investment and business connection between Thai Binh and Lower Saxony, attended by about 30 German companies./.

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