Vietjet and Rolls-Royce signed an agreement to provide engines and engine services for the airline’s coming widebody fleet with a total value of approximately US$400 million.

The signing ceremony on Sunday was witnessed by Prime Minister Phạm Minh Chính and high-ranking dignitaries of Việt Nam and the UK during the Prime Minister’s attendance at COP26, the 26th United Nations Climate Change Conference of the Parties.

"The Trent 700 has the lowest lifetime fuel burn and the best economics on its aircraft type. In addition, our TotalCare service will help Vietjet maximise the value of its engine assets and increase time-on-wing performance,” said Ewen McDonald, Chief Customer Officer of Rolls-Royce Civil Aerospace.

The Trent 700 is the only engine specifically designed for this wide-body aircraft and is widely recognised for its outstanding efficiency and reliability. Since its launch in 1995, the Trent 700 has logged more than 60 million hours in service.

Vietjet Managing Director Đinh Việt Phương said he believed that the Trent 700 engines would bring a technology breakthrough to Vietjet’s fleet, helping improve flight range and quality and thereby boosting the aircraft’s technical reliability and operational efficiency.

"We hope this partnership will also contribute to trade promotion between Việt Nam and the UK, creating more jobs for people and businesses of the two countries while making the connectivity between continents more convenient and economical in the future," he said. 

The same day also saw a reinsurance certificate covering Vietjet’s entire fleet globally inked between the budget carrier and the world-leading insurance brokers Gallagher (UK) Limited and Willis Towers Watson Limited.

Vietjet’s reinsurance certificate for its fleet has been updated and renewed annually since the airline first took-off in late 2011. The newly signed deal is worth $20 million, covering Vietjet’s entire fleet of aircraft registered in Việt Nam and abroad.

With a comprehensive network in Việt Nam and the Asia Pacific, Vietjet looks to further expand its wings across continents thanks to its new and modern fleet. 

Several wind power projects miss opportunity to enjoy preferential prices

October 31 is the deadline for wind power projects and plants to enjoy the Feed-in Tariff (FIT) price mechanism (preferential electricity purchasing price fixed for 20 years) after being put into trial operations and receiving Commercial Operation Date (COD) acceptance.

However, according to data updated by the Vietnam Electricity (EVN), by October 29, only 42 out of 106 wind power plants, with a total capacity of 2,131.3 MWs, had been recognized for commercial operation. It is forecasted that many wind power plants out of the remaining 64 projects will not be on schedule for COD recognition, which means they will miss the opportunity to enjoy the preferential electricity purchase and sale mechanism with EVN.

According to investors, due to the Covid-19 pandemic and social distancing, many projects in the Southern region are behind schedule. As many investors have proposed an extension for wind power projects that had not finished construction due to the Covid-19 pandemic and could not operate before October 31, Mr. Hoang Tien Dung, Director of the Electricity and Energy Department, said that the Ministry of Industry and Trade (MoIT) would put forward a transitional processing mechanism for these projects but would not apply the FIT price.

The ministry will suggest a handling mechanism on the principle of cost, investment capital, plant operation, and maintenance for investors to negotiate with the power buyer to determine the electricity purchasing price. As for projects starting construction after October 31, 2021, it is compulsory to apply the bidding mechanism for wind power prices. Accordingly, investors will negotiate the selling price with the buyer, following the price bracket prescribed by the MoIT.

Projects seeking foreign investment must provide more information

The Ministry of Planning and Investment is seeking to increase foreign investment into Vietnamese projects in the 2021-25 period. To do so, the ministry recognises that more information is required when proposing projects in the future.

Going forward, localities and local ministries that submit projects for investment must include the project name, expected scale including land area, and investment capital, as well as a full profile on the project objectives, project status, investment type, and investment scale.

The form to submit a project for investment will also include other important criteria, such as the demand for electricity and water; investment costs; and the estimated time of project implementation.

There must also be a local information overview, including variables, advantages, economic development situation, transport infrastructure, labour resources, and more specific information such as preferential policies, market analysis, investment procedures, and project implementation.

If the proposed project meets the criteria of the Ministry of Planning and Investment, the project will be opened to foreign investors. The aim is that, for the first time, Viet Nam will have a portfolio of national projects calling for foreign investment in promotion.

When the Draft List was submitted to the Government in February, Nguyen Dinh Nam, Director of Viet Nam Investment Promotion and Associates Corporation spoke with a reporter from Dau Tu (Investment) newspaper. Nam said that although the development of the list was necessary and important, in reality, it did not help much for investment promotion.

Previously, projects that called for foreign investment only had project names. Projects on the list usually lacked too much information, he explained.

To attract investment effectively, each project needs to be accompanied by detailed documents and approved by competent authorities, with enough information for investors to refer to before making investment decisions, said Nam.

When explaining previous failures the Ministry of Planning and Investment admitted that there were problems related to specific information on each project.

The new list will overcome the shortcomings of the previous as much as possible, the Ministry of Planning and Investment emphasised.

The development of private profiles for each project is underway. If this is done well, it is expected to make a fundamental difference in investment promotion through the national project list. 

PM attends announcement of direct Vietnam-UK air route

Prime Minister Pham Minh Chinh on October 31 attended the announcement ceremony of a direct Vietnam - UK air route by the Bamboo Airways held in Edinburg city, the UK.

The budget carrier is planning to bring regular direct flights linking Hanoi and Ho Chi Minh City to London into commercial operation from the end of this year after approvals by the two governments. The initial frequency will be six flights per week, and to daily flights from 2022.

Implemented, the flights will help shorten the travel time to 12-13 hours, or 7 hours shorter than the transit ones.

The route is also opening up chances to increase flights between Vietnam and other top destinations in the world. It is expected to help boosting the relations of comprehensive cooperation between the two countries./.

Asiana Airlines reopens direct flight to Phu Quoc island

Asiana Airlines Inc, the second largest carrier by revenue of the Republic of Korea (RoK), has decided to reopen a direct air route to Phu Quoc island in the Mekong Delta province of Kien Giang.

Under to a memorandum of understanding (MoU) signed recently at Phu Quoc International Airport, both sides will cooperate in strengthening marketing activities for the direct flight as of November 2021. They include popularizing Phu Quoc’s tourism and business potential in an effort to attract additional visitors and businessmen to the island.

The representative of Asiana Airlines hopes that the signing of the MoU will create a solid premise for the local aviation and tourism industries to recover from a long suspension period due to the negative impact of the COVID-19 pandemic.

Asiana Airlines had previously run four flights each week to Phu Quoc Island since August 2019. However, in March 2020, the airline was forced to suspend the operation due to the impact of the pandemic.

Phu Quoc, the nation’s largest island, boasts an area of approximately 600 square kilometres.

It is blessed with an array of beautiful beaches featuring white and golden sand, crystal-clear water, pristine forests, and a mild climate. It sits in a good location which can connect with both key tourism markets in the region and throughout the wider world.

The island city is scheduled to welcome back international visitors this month.

Market expected to hit new highs this week

Viet Nam’s stock market closed last week at a new record, which also marked the biggest weekly gain since June. The liquidity also rose sharply compared to the previous week, while foreign investors returned to net buy after net selling for the eleventh week.

With the positive developments, analysts from securities firms said that the uptrend of the VN-Index shows no signs of changing.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ended last week at 1,444.27 points, the highest since the market was founded, while the HNX-Index on Ha Noi Stock Exchange (HNX) inched 0.26 per cent higher to 412.12 points.

For the week, both benchmarks climbed more than 4 per cent, of which the VN-Index rose 4.2 per cent and the HNX-Index was up 4.1 per cent.

The liquidity increased compared to the previous week and continued to be higher than the last 20 sessions' average with about VND29.9 trillion (US$1.3 billion) traded per session on the two exchanges.

The trading value on HOSE increased by 19.5 per cent last week to over VND131.9 trillion, equivalent to a trading volume of 4.435 billion shares, up 17 per cent. On HNX, the trading value jumped 32.4 per cent to VND17.6 trillion, with an increase of 13 per cent in volume to 738 million shares.

Viet Dragon Securities Corporation (VDSC) said that the VN-Index recorded a positive trading week but the uptrend slowed down at the resistance zone of 1,440 - 1,450 points. The stronger liquidity showed that there is a significant conflict at the resistance zone.

However, VDSC believes that although the uptrend slowed down, in general, the index’s rallies show no signs of changing. It is expected that the benchmark will rise in the next trading session before having more specific signals.

Meanwhile, MB Securities JSC (MBS) said that the market closed the week at historic peaks and continuously set new highs. The rally trend was supported by increased liquidity, while foreign investors returned to be net buyers after net selling for the eleventh week.

The rallies for four consecutive sessions helped ease investors’ bearish sentiment due to the market’s sideways movement in previous sessions. As the market is expected to set new highs when the cash flow continues to rise, the VN-Index is likely to challenge 1,465 points in the coming sessions, the securities company added.

Saigon - Hanoi Securities Company (SHS) said that the strong cash flow into the market in the past week has helped the benchmark officially breach the old peak of 1,420-1,425 points to head to new peaks.

Foreign investors also returned to net buy nearly VND300 billion on both exchanges after a long net selling streak, which was also a positive point supporting the uptrend.

Technically, the market is currently in an uptrend with the theoretical target of around 1,550 points that can be reached in the near future, SHS added.

Therefore, there is still room for the index to move higher, so the VN-Index may continue to extend, but corrections may occur.

In the negative scenario, if selling pressure increases, the index is likely to retest the demand in the support zone of 1,420-1,425 points.

Last week, all pillar stock groups posted positive growth, with utilities stocks reporting the biggest gain of 8.2 per cent in market capitalisation. It was followed by finance and real estate stocks.

The country's stock market continuously hit new highs while world stock markets were also very positive. 

Vietnam Airlines meets US security requirements to operate regular direct flights to US

The US Transportation Security Administration (TSA) has officially confirmed that Vietnam Airlines meets all security requirements to operate a regular commercial direct flights to the US from October 25, the national flag carrier announced on November 1.

With this event, Vietnam Airlines has become the first Vietnamese airline to be allowed to operate regular direct flights to the US - the country applies the most stringent legal procedures and aviation security regulations in the world.

This is one of the most complex and important conditions that foreign airlines need to meet in order to be licensed by the US Federal Aviation Administration (FAA) to operate directly flights to this country.

According to Vietnam Airlines, after completing the last step of gaining a licence from the FAA, the airline will conduct its first regular commercial direct flight to the US at the end of November this year.

After two decades of preparations, the national flag carrier will become the first airline of Vietnam to operate a direct service to the US./.

Vietjet signs reinsurance agreement with UK insurance brokers for its entire fleet

Vietjet and world-leading insurance brokers Gallagher (UK) Limited and Willis Towers Watson Limited have signed a reinsurance certificate covering the airline’s entire fleet globally on the sidelines of the 26th United Nations Climate Change Conference of the Parties (COP26) in the UK.

The event was witnessed by Vietnam’s Prime Minister Pham Minh Chinh and high-ranking dignitaries of Vietnam and the United Kingdom; Vietjet Managing Director Dinh Viet Phuong; Gallagher Limited UK Senior Partner in aerospace Martin Trumper and Willis Towers Watson Limited Managing Director in aviation James Coventry.

Vietjet’s reinsurance certificate for its fleet has been updated and renewed annually since the airline’s first took-off in late 2011. The newly signed deal is worth 20 million USD, covering Vietjet’s entire fleet of aircraft registered in Vietnam and abroad.

With a comprehensive network in Vietnam and Asia Pacific, Vietjet looks to further expand its wings across continents thanks to its new and modern fleet in the coming time.

Gallagher is a global leader in broking, risk management and consulting services. Established in 1927, it has a global network of 30,000 expert advisors in more than 150 countries. The supporting broker Willis Towers Watson Limited is a leading global advisory, broking and solutions company. With roots dating to 1828, it has 45,000 employees serving more than 140 countries and markets.

Known as a new-age carrier, Vietjet has not only revolutionised the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations, and performance, the carrier offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with 7 stars in 2018 and 2019 by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others./.

HCMC accelerates support on worker housing projects

Most of the businesses that can maintain production activities during the prolonged strict social distancing mandate in Ho Chi Minh City last time are those that have provided shelters for migrant workers. Therefore, the southern metropolis is accelerating support on worker housing projects.

Stable, decent-quality and affordable housing is also critical for communities and the overall economy. Housing instability can impede migrant workers’ ability to secure and maintain employment.

Deputy General Director of Ho Chi Minh City Finance and Investment State-owned Company (HFIC) Nguyen Hong Van revealed the financial solutions that the company has been implementing following the city's above policy.

HFIC has determined to focus on supporting investment in housing projects for low-income people, workers, and student dormitory in its loan and investment index for the period 2021-2025 that has just been approved by the People's Committee of Ho Chi Minh City. In particular, the city's stimulus program will give capital for worker housing projects.

Several housing projects for workers such as investment projects to build apartment complexes for workers in the resettlement area of Tan Tao Industrial Park, investment projects in housing for workers of Truong Thinh Investment-Construction Company and a worker accommodation project in Binh Chanh District’s Tan Nhut Commune have been financed by HFIC.

Currently, HFIC is supporting loan procedures for a worker accommodation project in Thu Duc City’s Thanh My Loi ward, which started on October 30, 2021. The project will provide about 1,100 apartments for employees, helping businesses in the area.

In addition, HFIC is also studying formalities for four other housing projects in District 7. City administrations are reviewing land funds for housing development for low-income earners in the period 2021-2025.

Furthermore, city authorities will consider the plan of industrial parks and export processing zones in connection with neighboring provinces including the Mekong Delta Province of Long An and the Southern Province of Binh Duong in a bid to create a land fund for worker accommodation. Preferential policies on tariff and land use charges must be considered to attract social contributions and ensure state management on rent.

Most rental houses are built by residents whereas the limited supply of worker accommodation from project investors; as a result, workers must reside in an unsafe and unhygienic environment in private rental houses.
It is therefore necessary that more people are eligible for low-interest loans for cheap commercial housing projects. Moreover, workers and laborers are entitled to ask for loans with low interest to buy a house.

Project investors who meet HFIC’s requirements will be given loans and HFIC will be willing to help them in completing formalities during the process.

Nguyen Van Be, Chairman of HCMC Business Association, said that approximately 288,000 workers are working at 1,500 enterprises in 18 industrial and export processing parks and hi-tech parks in HCMC.

However, existing dormitories in industrial parks and export processing zones just meet 5 percent – 10 percent of workers’ demand; hence, this is a favorable time for businesses to invest in expanding worker accommodation.

The city should have policies to support loans, loan interest rates and simplify administrative procedures for construction permits to facilitate businesses’ worker accommodation projects at low prices.
Vice chairwoman of the Sai Gon Hi-Tech park’s management board Le Bich Loan informed that of 52,000 employees at hi-tech park enterprises, 36,747 of them need a house.

The Management Board of Sai Gon Hi-Tech Park worked with Thu Duc City to determine the land fund for the construction of worker accommodation. She petitioned that the city should soon have the policy to allocate land to investors to speed up the construction of worker accommodation.

In particular, the city needs to issue a set of standards for the quality and specifications of workers' accommodation, to deter investors from building poor-quality housing which is associated with various negative health outcomes on workers.

Reference exchange rate up 9 VND at week’s beginning

The State Bank of Vietnam set the daily reference exchange rate at 23.140 VND/USD, up 9 VND from the last working day of previous week (October 29).

With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,834 VND/USD and the ceiling rate 22,445 VND/USD.

The opening-hour rates at commercial banks stayed stable.

At 8:25 am, Vietcombank listed the buying rate at 22,620 VND/USD and the selling rate at 22,850 VND/USD, unchanged from October 29.

BIDV also kept both rates unchanged from October 29 at 22,650 VND/USD (buying) and 22,850 VND/USD (selling).

During the week from October 25-29, the daily reference exchange rate fluctuated variably and ended the week down 5 VND from that on Monday./.

Van Don airport receives Airport Health Accreditation

Van Don International Airport in the north eastern province of Quang Ninh has obtained the Airport Health Accreditation – AHA by the Airports Council International (ACI).

The airport is the sixth out of 22 airports in Vietnam honoured with the recognition.

The certificate recognises the airport’s commitment to prioritising health and safety measures for passengers in COVID-19 prevention and control. It also serves as a foundation for agencies and governments across the globe to re-open air routes between accredited airports.

Director of Van Don Airport Pham Ngoc Sau affirmed that passengers’ health and safety are the top priority of the airport when commercial flights are resumed.

In the past nearly two years, the airport applied stringent procedures in welcoming repatriation flights and passengers nationwide so as to minimise the risks of COVID-19 infections spreading in the community, he said.

Bamboo Airways resumed its service between Van Don airport and Ho Chi Minh City on October 27 with three flights a week. Vietjet also resumed flights on the route on October 31 with one flight everyday. Vietnam Airlines is re-opening flights on the route on December 1 with three flights per week.

The VIP and CIP Lounge at Van Don airport was honoured as Asia's Leading Airport Lounge 2021 at the recent 28th World Travel Awards./.

Airports Corporation of Vietnam suffers from record loss in Q3

The Airports Corporation of Vietnam (ACV) posted a record loss of over 856 billion VND (37.3 million USD) in post-tax profit in the third quarter, blaming the poor performance on impacts of the COVID-19 pandemic.

This is the biggest quarterly loss since the firm’s initial public offering in 2016. That compared to the loss of over 356 billion VND in Q2 last year, when airlines had to suspend almost their entire networks.

The net revenue from sales and service provision stood at around 370 billion VND in Q3, down 74.3 percent year on year. The firm suffered from a loss of more than 1 trillion VND in core business activities, according to its consolidated financial statement.

Although its net revenue dropped strongly under COVID-19 impacts, the ACV has still had to carry out policies supporting airlines.

The ACV earned nearly 500 billion VND in profit in the first nine months of 2021, but the sum plunged by three times from 2020.

By September 30, its total asset value had dropped by over 1.5 trillion VND from the start of this year to 55.36 trillion VND.

The corporation looks to gain more than 10.56 trillion VND in revenue and 2.36 trillion VND in pre-tax profit in 2021. However, after nine months, it had fulfilled just almost 36 percent and 26 percent of the respective targets./.

Industrial clusters accelerate production after long break

After social distancing orders were eased in many provinces and cities, businesses have been working to resume operations, ensure orders are fulfilled and production chains restored.

Factories in industrial parks are reopening, but can’t run at full capacity due to preventive measures for COVID-19.

“Currently, leather and footwear companies in the industrial park only operate at about 30-40 per cent of capacity,” Phan Thi Thanh Xuan, General Secretary of Viet Nam Leather, Footwear and Handbag Association (Lefaso), told Viet Nam News.

Restrictions are being lifted at a normally busy time of the year with festivals and celebrations, which is also the main shopping season in many countries. However, not all businesses are benefiting this year.

“Our southern companies have missed this Christmas season since we have to prepare from August. At the moment, only northern factories can meet demand for the Christmas and year-end holidays,” Xuan added.

“And actually they are speeding up.”

However, disruptions during social distancing still strongly affected industries, causing many enterprises to struggle in restarting production.

Each province carries out different requirements, with some very open in supporting businesses, while others were not, said the general secretary of Lefaso.

“Workforce is not a problem for us at the moment as we run at low capacity, but local rules are,” Xuan said.

The special working group of the Ministry of Industry and Trade noted that in Binh Duong Province, most businesses’ concerns were over procedures to return to production, testing requirements, operating under the “three-green” model and vaccine issues.

All enterprises in Binh Duong’s industrial cluster have resumed operations, but the capacity has only reached 44 per cent compared to the pre-pandemic period.

As soon as the normal state returns, the Department of Industry and Trade of Binh Duong suggested that businesses wishing to return to operation develop plans in the new situation, send them to all related agencies and immediately start the work.

Binh Duong Province will give the rights to enterprises to resume production, and the local government will carry out post-inspection work.

The Department of Industry and Trade of Binh Duong has issued a guiding document approving the granting of initiative rights for enterprises to reopen, while the State management agency will perform post-check to accelerate the restoration of production. Currently, Binh Duong Province has allowed businesses to test and issue certificates for workers to travel by themselves.

Moreover, Binh Duong’s authorities also allowed businesses to access quality test kits for only a few tens of thousands of dong per test. Enterprises are allowed to combine 3-5 samples, so the cost of testing for each worker will be very low. At the same time, the time limit for test results is up to 7 days. Workers in Binh Duong have received the first dose of vaccine and it is expected that the second dose will be completed this month.

A report on industrial production from the southern special working group of the Ministry of Industry and Trade showed that in Ben Tre Province, the activities of enterprises are relatively stable, with obstacles basically being solved, creating favourable conditions for enterprises to resume business activities, as well as deploy disease prevention measures.

As of October 13, the whole province recorded 2,258 enterprises in operation with 67,015 employees.

Of which, there are eight companies operating under the “three-on-site" model with 863 employees, while 2,250 businesses operating in the new situation with 66,152 employees.

Southern governments also implemented plan No 6601/KH-UBND on bringing workers back to HCM City and the provinces of Binh Duong, Dong Nai and Long An to work.

Data showed that as of October 8, there were 1,056 registered workers in Ben Tre City.

Currently, Ben Tre Province has 2,224 enterprises operating with 65,430 employees, accounting for 54 per cent of the total number of operating enterprises and up 1,559 enterprises compared to when Directive 16 was applied.

Accordingly, 19 companies operate under the “three-on-site" model with 3,393 employees, while the rest operate in production in the new situation with 62,037 employees.

In Dong Nai Province, there were a total of 3,898 companies completing the self-assessment on the risk of COVID-19 infection at the enterprise, according to the special working group of the Ministry of Industry and Trade.

The result showed that more than 3,180 businesses are in the low-risk group, while only 49 in the medium-risk group.

Businesses in the province are restoring production activities according to plans to ensure safety against the pandemic.

Of which, as of October 11, in the industrial park, the total number of enterprises implementing the "three-on-site" model is 1,176, with a total of 154,699 resident workers. Meanwhile, there are 139 enterprises implementing the plan for workers to go home every day with a total registered workforce of 41,762 people. 

Number of businesses resuming operations in October up 29.8 percent

A total of 4,304 companies resumed their operations in October, up 29.8 percent against September, and down 14.7 percent year-on-year, according to the General Statistics Office.

In the month, Vietnam saw 8,233 new enterprises established, with a total registered capital of 108.6 trillion VND (4.77 billion USD) and 58,800 labourers, up 111.2 percent in quantity, 73.9 percent in capital, and 17.9 percent in the number of employees compared to those of September.

However, the figures were still down 32.5 percent in quantity, 34.4 percent in capital, and 18.8 percent in the number of labourers compared to those of the same period last year.

In October, 3,492 firms suspended operations, up 55.9 percent month-on-month; 3,048 stopped operation pending completing dissolution procedures, up 21.5 percent; and 806 units completed dissolution procedures, up 33 percent.

In the first ten months of 2021, 93,700 new companies were set up, with a combined capital of nearly 1.3 quadrillion VND and 707,700 employees, down 15.7 percent in the number of firms, 18.2 percent in capital and 16.8 percent in the number of labourers year-on-year.

In the period, 35,300 firms resumed operations, down 6.3 percent year-on-year. Meanwhile, 48,500 companies temporarily ceased operation for fixed period; 35,000 others stopped operation awaiting to complete dissolution procedures; and 13,600 firms dissolved, up 16 percent, 15.7 percent and 0.8 percent year-on-year, respectively.

To help businesses overcome difficulties, the Government issued Decree No. 92/2021/ND-CP dated October 27 detailing the implementation of Resolution No. 406/NQ-UBTVQH15 of the National Assembly Standing Committee on solutions to support businesses and people affected by the COVID-19 pandemic.

The decree outlines four groups of tax exemption and reduction measures, including reducing corporate income tax payable in 2021 for businesses , organisations with a revenue of no more than 200 billion VND and a decrease in revenue in 2021 compared to 2019; tax exemption (personal income tax, value-added tax and other taxes) in the third and fourth quarters of 2021 for business households and individuals that have production and business activities in district-level localities affected by the pandemic in 2021; reductions in value-added tax rates for groups of goods and services in various industries; and exempting late payment interest arising in the 2020 and 2021 for businesses and organisations that saw losses in 2020./.

Vinamilk sees quarterly record revenue in Q3

Vinamilk, Vietnam’s largest dairy maker, posted a quarterly record-high consolidated revenue of over 16.2 trillion VND (706.57 million USD) in the third quarter of 2021, up 4.1 percent year-on-year.

Its Q3 consolidated after-tax profit edged up 3.4 percent from a year earlier to over 2.96 trillion VND.

However, consolidated profit margin reached 42.9 percent, a slight decrease against the first half of the year, largely due to surging prices of input materials caused by global supply chain disruption and anti-dumping taxes imposed on some materials.

The company’s revenue from exports topped 1.55 trillion VND, equivalent to last year’s figure.

Its consolidated revenue and post-tax profit totalled nearly 45.18 trillion VND and 8.42 trillion VND, respectively, in the first nine months of this year, representing 73 – 75 percent of the yearly plan.

Vinamilk has been running a network of 17 dairy factories both in Vietnam and overseas, and 15 dairy farms with a total of close to 160,000 milch cows./.

Vietnam a role model in FDI attraction: Malaysian scholar

Vietnam has been an engaging contributor to ASEAN and a role model in FDI attraction in the region, Dr Oh Ei Sun, Principal Adviser for Pacific Research Centre of Malaysia, has told Vietnam News Agency in Malaysia.

Vietnam has demonstrated its activeness and sense of responsibility as the Chair of ASEAN last year and Vietnam’s contributions to ASEAN cooperation must be held in high regard, said Oh, who is also a Senior Fellow at Singapore Institute of International Affairs.

Describing Vietnam as a rapidly emerging economy in the region and a success story in foreign investment attraction thanks to its effective one-stop-shop mechanism, he said regional countries are hoping to learn from Vietnam’s practices in this field.

He also spoke highly of Vietnam’s national strategy on the Fourth Industrial Revolution as the country is among those experiencing the fastest pace of industrialisation and digitalisation. Vietnam has truly played a leading role in raising awareness of Industry 4.0 in ASEAN cooperation, he stated.

He went on to highlight Vietnam’s initiative and activeness in addressing disputes in East Sea, particularly accelerating the conclusion of an effective and practical Code of Conduct (COC) in the regional waters./.

Textile and garment sector to recover with labour support

As the fourth wave of COVID-19 is brought under control in Viet Nam, the billion-dollar textile and garment industry is overcoming difficulties to resume production.

The worst wave of the pandemic so far has caused garment inventories to increase, production activities to be delayed, and the labour supply disrupted as many workers left for their hometowns.

According to a survey by the Research Center for Employment Relations (ERC), the industry could be exhausted with more than 60 per cent of migrant workers leaving or deciding to leave for their hometown.

Meanwhile most experts said as many orders were unfinished, demand for production and business from now to the end of the year was very high, adding if localities do not soon ease social distancing restrictions and implement measures to promote economic development, the export target of US$39 billion this year will be difficult to achieve.

In the most positive scenario, experts from the Vietnam Textile and Apparel Association (VITAS) said Viet Nam would control the pandemic and realise a ‘new normal’ from the beginning of this month, with exports reaching between $37.5 billion and $38 billion. In the worst-case scenario, when restrictions remain in place until the beginning of December, exports were expected to reach $33.5 billion to $34 billion.

Director of the Center for WTO and Integration, under the Vietnam Chamber of Commerce and Industry (VCCI), Nguyen Thi Thu Trang, said during the pandemic many enterprises had their production chains broken, leading to a number of orders signed being cancelled or transferred to another country by customers.

Concerned about the export future of these products in such a situation, Trang said large textile and garment brands could move their orders to be produced in areas with good pandemic control to meet the needs of the year-end shopping season in European and American markets.

Therefore, Trang said: “If enterprises quickly restore production and smoothly complete the remaining orders in the coming months, there is no need to worry too much about the future,” adding that in the long run, compared to many competitors, Viet Nam's textile and garment sector still has certain advantages in terms of product quality, technical level, ability to meet strict requirements on labour and environment, and especially preferential tariffs under FTAs.

Trang said the most important thing for garment enterprises was direct support policies such as financial support, exemption or reduction of taxes and other fees and an interest rate support package to quickly restore full production.

She said at the same time, the State would need to develop policies to help businesses make effective use of existing labour resources, loosen or remove restrictions on the maximum number of overtime hours, and help businesses attract workers to return to work through supporting the cost of meals, accommodation, or organising free periodic testing for employees.

While experts predicted most textile and garment enterprises would experience a challenging and difficult year in 2021, they also said the period until 2023 was a decisive time for recovery and enterprises needed to take advantage of opportunities.

As one of the biggest production firms in the northern province of Thai Binh and one of Viet Nam’s leading apparel manufacturing and exporting companies, Tan De Garment launched a mobile app earlier this month to connect all its employees from all nine factories in Thai Binh and Hung Yen provinces.

A representative of the firm said the app was not just a venue for more than 17,000 workers to exchange their activities and training but also to get updates on the company’s policies, adding that all workers had been given at least one dose of vaccine and received cash thanks to Government policies.

Nguyen Tien Phuong, chairman and CEO of Tan De Garment Company, told Viet Nam News: “As the company has policies to support employees from the beginning of the pandemic and actively recruits employees in Thai Binh Province, it does not have to face the issue of workers leaving this time.”

Phuong added that a quick vaccine roll-out and insurance support also helped in keeping workers at this time.

Deputy general director of Garment 10 Corporation, Bach Thang Long told local media that thanks to many flexible solutions, the firm’s revenue in the past nine months remained the same as in the same period last year, adding that he was striving to increase year-end profit compared to last year through cost cutting and increased productivity.

Vinatex General Director Cao Huu Hieu also said that the group had implemented many response measures to limit the negative impact of the pandemic and the increase in input material prices.

Hieu said: “There is no other way, the production unit must work closely with customers for the most optimal solution.”

Hieu added: “In addition, the enterprises must work with suppliers to avoid excessively high prices affecting output, improving market forecasting to have a plan to import raw materials for reserves, avoiding the impact of high prices.”

He said enterprises needed to develop many response scenarios in 2022 when the market recovers and production is resumed, adding that at the same time, they needed to take advantage of new-generation free trade agreements (FTAs) to boost exports.

Hieu said in the first nine months, Vinatex's total revenue reached VND24.68 trillion, down 12.4 per cent and profit was up 136.9 per cent, reaching VND1.14 trillion over the same period in 2020 thanks to active solution and good support of customers.

Commenting on the textile and garment market in 2022, Le Tien Truong, chairman of Vinatex, said that the global market would continue to recover in terms of demand, especially in developed countries.

Truong added that in the first half of 2022, textile and garment enterprises would still have to implement solutions to prevent and control the pandemic. He said thanks to the Government's continuous promotion of vaccinations, localities would not implement large-scale social distancing, so in the second half of 2022, businesses would adapt and feel secure to work under the "new normal". 

WEF dialogue reflects global firms’ trust in Vietnamese economy: official

The World Economic Forum (WEF)’s Country Strategy Dialogue on Vietnam, held on late October 29, came to a success, demonstrating the WEF and global enterprises’ attention to and trust in the Vietnamese economy, Deputy Minister of Foreign Affairs Nguyen Minh Vu has said.

In an interview granted to the press, Vu elaborated that the WEF’s first-ever Country Strategy Dialogue on Vietnam gathered WEF Founder and Executive Chairman Klaus Schwab, President of the forum Borge Brende, and nearly 70 leading enterprises and investors who have invested or are planning to invest in the country.

Leading enterprises in the region and the world highlighted the prospect of and their trust in the investment and business climate in Vietnam. They also straightforwardly pointed out the difficulties and problems facing them while operating here and put forth proposals to help the country quickly recover its economy and realise long-term targets, Vu said.

Prime Minister Pham Minh Chinh repeated to businesses his message of “harmonising interests, sharing risks” and “win-win cooperation” between the Government and the business community in the current context.

Particularly, he underlined the Vietnamese Government’s commitment and resolve to make reforms, transform the economy, and create new opportunities for the sustainable, inclusive, and innovative development of the Vietnamese economy and domestic and foreign enterprises.

Besides, the open and straightforward dialogue reflected enterprises and investors’ trust in the Vietnamese economy, as well as the business and investment prospect here. It also showed their trust in the Government’s unceasing efforts to reform and improve the business environment so as to promote the public - private partnership between international enterprises and the Vietnamese Government and people, Vu noted.

He expressed his belief that this trust will lead to new investment and investment expansion decisions in mutually beneficial areas in the country.

Many participants, including the WEF leaders and major groups, spoke highly of the Government’s resolution which identified the right direction of shifting to the production and business recovery period with the pandemic under control, enabling them to restore normal operations.

They held that the recent difficulties they have faced in Vietnam just lasted for a short period of time while the country’s prospect and advantages are still outstanding. Vietnam has a critically important geo-economic position in a dynamic economic region, it is an economy with a large market of nearly 100 million people and also part of the network of regional and global free trade agreements, and it also boasts numerous advantages for attracting and keeping foreign investors, according to the Deputy Minister.

He cited the WEF and business leaders as saying that the difficulties and challenges are common, but the Vietnamese Government has displayed an open-minded attitude and readiness to accompany enterprises in tackling difficulties and challenges, thereby helping enhance investors’ trust.

The international business community made highly positive assessment of Vietnam’s economic outlook, which will open up a number of new chances for cooperation between the country and foreign enterprises in the time ahead, the official added./.

Photo exhibition marks anniversary of Vietnam-Algeria diplomatic ties

A photo exhibition on popular landscapes in Algeria and Vietnam was launched in Algiers on October 30 to mark the 59th anniversary of the two countries’ diplomatic relations (October 28, 1962 – 2021).

The function was co-held by the Vietnamese Embassy in Algeria and the Algerian Federation of Vovinam Vietvodao (Vietnamese martial arts) (FAVV).

On display were about 60 photos depicting magnificent landscapes in Vietnam and Algeria and capturing beautiful moments of daily life in the two countries. The event also featured Vietnamese martial arts performances by FAVV members and popular Vietnamese traditional dishes.

In his welcoming remarks, Ambassador Nguyen Thanh Vinh highlighted the history of the bilateral relations which was established even before Algeria gained independence.

Vinh expected that with strong political ties and determination of the two countries’ leaders, their multifaceted cooperation will thrive further in the coming time.

He also said he hopes via the event, visitors will have a better understanding of the beauty of the two nations’ natural landscapes and peoples as well as Vietnam’s Vovinam.

The Trade Office of Vietnam in Algeria took the occasion to set up a stall introducing various Vietnamese products in agriculture, fisheries, handicrafts, electric appliances and others, to local enterprises and organisations.

It also popularised a list of reputable Vietnamese exporters and announced a plan to invite Algerian companies to a webinar on logistics in Vietnam to be held on November 3 – 4./.

Vietnam eyes building blue economy partnership group

The Vietnam Administration of Sea and Islands (VASI) at the Ministry of Natural Resources and Environment and the World Bank have jointly held a virtual consultation workshop on the building of a Blue Economy partnership group.

At the event, VASI Deputy Director General Nguyen Que Lam said the proposal to build a partnership group on blue economy aims to mobilise the participation of stakeholders for the efficient management and sustainable development of Vietnam’s maritime economy.

Participants discussed and share information on programmes and projects related to the field.

According to the World Bank, the Blue Economy refers to the sustainable and integrated development of economic sectors for healthy oceans and seas. Nguyen Thi Tho, an expert at the VASI, said that the blue economy model aims to improve welfare and social fairness, as well as mitigate risks in environment and scarcity.

The annual Vietnam Blue Economy Forum is among major activities of the country’s seas and islands week. The forum helps the community understand the potential and challenges in the realisation of maritime economy development targets./.

Automotive and mechanical industries boast huge potential for co-operation with Austria

A number of key industries such as automobile production and mechanics are viewed as projects that have great potential and prospects for co-operation between Austria and Vietnam, according to the Vietnam Association of Mechanical Industry (VAMI).

Austria is part of the EU and is notable for having a developed and stable economy that has been ranked as an industrialised country by the UN Industrial Development Organization (UNIDO) with a good social welfare policy.

In the Central European country, services account for a high proportion of GDP, approximately 70%, followed by industry, between 28% and 30%, along with agriculture, at around 1%, while the exports of goods and services make up more than 50% of its GDP.

Furthermore, the European nation's important industries include mechanical engineering and machinery manufacturing, iron and steel and non-ferrous metals, automobiles, energy, along with electricity and electronics. Indeed, the iron and steel industry, manufacturing machinery, and automobile production account for roughly 40% of the total value of industrial production.

Most notably, Austria has always primarily focused on the field of research and development (R&D). According to the EU's annual assessment, it has research strengths in fields such as automobiles, energy, the environment, construction, transport, new technology, high-tech agriculture, information technology, and the media.

At present, Austrian automotive technology has strong appeals to many international companies, largely thanks to its high-quality and highly-skilled workforce.

The Austrian automotive industry, including the supply of components, is among the top three industries in the European country, with one of every nine Austrians working in the sector.

Austria is also the most diverse test site in Europe for self-driving cars, high-performance batteries, along with the use of artificial intelligence in the transport sector. This comes as more than 1,600 patents were registered in the automotive industry between 2011 and 2015.

Austrian auto parts suppliers are also renowned for being reliable partners amid tough competition, with AVL List, Miba, Pankl Racing, and TTTech becoming indispensable partners in the global automotive industry, with car production value reaching some EUR25.5 billion per year.

Regarding co-operation with the Vietnamese market moving forward, AVL List and Magna Steyr are helping VinFast to design engines and transmission systems, along with producing batteries for electric vehicles.

With a world-leading competitiveness in the field of auto parts, Austria has the capacity to produce almost all components at a high standard and on schedule.

As for four-wheelers, every second car in the world uses an Austrian-made powertrain. Therefore, Austria represents a potential partner and can meet the development needs of the Vietnamese support industry.

Along with the auto industry, Austria stands out for its environment and positive policies regarding Industry 4.0.

Boasting modern infrastructure facilities, a long history of automation industry development, and synchronous linkages between businesses and research units, Austria takes the lead in the EU in the field of Industry 4.0.

Factories with a smart production model that combine traditional production with cyber operations are seen as a typical example in Austria’s Industry 4.0 development.

Recently, National Assembly (NA) Chairman Vuong Dinh Hue led a high-ranking NA delegation to attend the fifth World Conference of Speakers of Parliament in Austria. During this period, he paid a working visit to the European Parliament (EP), alongside a number of other countries, with a view to upgrading relations among EU members.

With these strengths, Austria can be viewed as a strong potential partner for development co-operation with the Vietnamese mechanical industry moving forward. 

Vietnam eyes building blue economy partnership group

The Vietnam Administration of Sea and Islands (VASI) at the Ministry of Natural Resources and Environment and the World Bank have jointly held a virtual consultation workshop on the building of a Blue Economy partnership group.

At the event, VASI Deputy Director General Nguyen Que Lam said the proposal to build a partnership group on blue economy aims to mobilise the participation of stakeholders for the efficient management and sustainable development of Vietnam’s maritime economy.

Participants discussed and share information on programmes and projects related to the field.

According to the World Bank, the Blue Economy refers to the sustainable and integrated development of economic sectors for healthy oceans and seas. Nguyen Thi Tho, an expert at the VASI, said that the blue economy model aims to improve welfare and social fairness, as well as mitigate risks in environment and scarcity.

The annual Vietnam Blue Economy Forum is among major activities of the country’s seas and islands week. The forum helps the community understand the potential and challenges in the realisation of maritime economy development targets.

HCM City plans a COVID-19 booster shot for high-risk group

The Ho Chi Minh City Department of Health has planned to give a COVID-19 booster shot to people at a high risk of virus infection and frontline forces.

Under a proposal to the municipal administration, a booster shot will be given to people with underlying illnesses, the elderly and obese people. People of frontline forces will also receive a booster shot.

This is a booster shot for those who have received two shots after six months to a year, said Dr. Nguyen Van Vinh Chau, deputy director of the HCM City Department of Health.

In the last two months of 2021 the city is scheduled to complete vaccinations for people aged 18 and above, and continue to vaccinate children aged 12 to 17. A booster shot will be also given to people of a high-risk group and frontline forces.

In 2022 the city is set to deploy vaccinations for children aged 3 and older, and at the same time, inoculate people with a booster shot.

So far more than 7 million people in the city have been vaccinated with the first dose and roughly 6 million with the second injection.

Currently, the city is carrying out a vaccination campaign for children aged 12 to 17 in all 22 districts and Thu Duc city.

“Vaccination is a primary, long-term strategy to ensure every citizen will be fully inoculated against COVID-19,” said Dr. Chau.

Welcome to Việt Nam in the “new normal”

Việt Nam has rolled out the red carpet to welcome back international tourists with vaccine passports as the country continues to relax restrictions and resume socio-economic activities one step at a time.

Phú Quốc Island in the Mekong Delta's Kiên Giang Province will be the first tourist hotspot in Việt Nam to open its doors to foreign visitors from next month following a pilot programme launched by the Ministry of Culture, Sports and Tourism.

Phú Quốc authorities arranged safe destinations to host visitors as well as developed plans to respond to anyone testing positive for SARS-CoV-2. Everyone in Phú Quốc Island District has received their first dose of vaccine and the second dose is currently being rolled out.

The pilot programme will be then expanded to other destinations like Hạ Long, Hội An, Nha Trang and Đà Lạt.

There was more good news for travel lovers who are planning to visit Việt Nam after a long period of restrictions due to COVID-19 is that they will not have to undergo a quarantine period of seven days when visiting localities selected in the programme, as long as they test negative for SARSCoV-2, according to a proposal released by the ministry on Thursday.

The Ministry of Foreign Affairs of Việt Nam is also temporarily recognising 'vaccine passports' of 72 countries and territories, and is in discussions with nearly 80 others on mutual recognition for the 'vaccine passport', to welcome more foreigners to the country.

According to Nguyễn Thị Hương Lan, director of the Consular Department, Ministry of Foreign Affairs, this is important and necessary because the vaccine passports are the key to opening the doors to the world, gradually easing entry restrictions and resuming regular international commercial flights.

The positive knock on effects would see a revival of the travel and hotel industries, contributing to marking the transition of the country’s anti-pandemic strategy from "Zero COVID" to adapting to the situation, living safely with the virus on the basis of a high rate of vaccinations.

There are still days to count before we can see the results of the pilot programme but it has signalled hope in the near future when all international air routes and destinations reopen. The Civil Aviation Authority of Việt Nam has proposed the Ministry of Transport permit airlines to resume international air routes in the fourth quarter of this year.

This progress is a result of the whole country’s efforts to control the pandemic while recovering socio-economic activities. With high vaccination rates, a remarkable drop in the number of new cases of COVID-19 and a strategic shift from a zero-virus strategy to living with the pandemic safely and flexibly, Việt Nam is believed to be on the right track to get back to the new normal.

More than 77 million doses of COVID-19 vaccines have been administered in Việt Nam. It means we have already gone half way to the target of giving 150 million doses to cover 75 per cent of the adult population.

The Ministry of Health aims to reach vaccine coverage of the second dose for at least 80 per cent of people over 65 years old in October and reach the same coverage for people over 50 years old in November.

But inoculating adults is not enough to get us back to normality. Children have largely escaped the worst of the pandemic and show less severe symptoms when they contract the virus. But experts say children can pass the virus on to others and suffer negative consequences.

Following steps of many other countries, Việt Nam on Tuesday announced a nationwide campaign to vaccinate children starting with those aged 16 and 17 and teens from next month with the Pfizer/BioNTech COVID-19 vaccine. The vaccine has been recommended for children by the World Health Organization and has been administered to the 12-17 age group in around 30 countries.

HCM City is the first locality in the country vaccinating children. Almost 1,800 students aged 16-17 in the city were vaccinated on Wednesday.

Joining the club, the northern province of Quang Ninh will begin vaccinating children aged 12-17 against COVID-19 on October 30 and central Đà Nẵng City plans to inoculate more than 100,000 children aged 12-18 from November.

The vaccination campaign was highly welcomed by experts. Dr Kidong Park, WHO Representative in Việt Nam, said in an interview with the Vietnam News Agency that the extensive vaccination of children aged 12 and above would help reduce the disease burden and the risk of new variant emergence, potentially by reducing viral transmission.

With this campaign, we hope to see children back in classrooms, on football fields or at birthday parties very soon. These are essential elements to get us back to the full new normal.

Following that roadmap, HCM City has given the green light to open schools in low and moderate pandemic risk areas to reopen under a draft plan issued by the Department of Education and Training this week.

And the southern economic hub is not alone. Bến Tre, Bình Dương, Cần Thơ, Bắc Giang and some other localities have revealed plans to welcome students back to schools, depending on the level of pandemic risks.

This week also marked a happy milestone for residents and businesses in HCM City when the country’s coronavirus outbreak epicentre resumed on-site dining from October 28, giving them the taste of the “new normal” after five months the fourth COVID-19 wave hit the city.

Despite these good signs, Minister of Heath Nguyễn Thanh Long earlier this week still urged localities to raise vigilance as the risk of further COVID-19 outbreaks remains very high.

Việt Nam is on the track to get back to normal and recover socio-economic activities. But as Prime Minister Phạm Minh Chính said no citizen can be safe when others are still infected with COVID-19 and no single country is safe when other countries in the region and the world still fight for the pandemic.

With that spirit, the PM called for a change in awareness, for a safe and flexible adaptation in the new normal and promoted solidarity among countries in the fight against COVID-19 while addressing the 38th and 39th Summits of the Association of Southeast Asian Nations (ASEAN) and related meetings held this week.

The event took place virtually with a focus on the fight against the COVID-19 pandemic and promoting economic recovery.

Prime Minister Chính proposed key tasks that ASEAN should focus on doing in the future, including a holistic, synchronous and flexible approach to COVID-19 control with the involvement of the entire community, with people and businesses being the centre and subject, and with the goal of addressing difficulties caused by the pandemic in the spirit of "benefits harmonised, risks shared".

He emphasised the need to improve the efficiency of coordination mechanisms, improve the capacity of the health system, be proactive in vaccines and treatment drugs and raise the people's awareness.

With all of these efforts, we hope Việt Nam, the region and the whole world will soon enjoy the taste of “new normal” together. Welcome back Việt Nam. Welcome back the world.

Cement producers increase sale prices amid rising input costs

Vietnamese cement producers have increased prices this month in the wake of a price hike of raw materials and input costs.

Prices of raw materials and input costs of the cement production industry such as electricity, coal, oil and gypsum have increased sharply, causing the industry’s production costs to surge. Oil prices in the first nine months of this year alone increased by 24.1 per cent over the same period last year.

Despite efforts to reduce costs and increase efficiency in production to offset the price hike of raw materials and input costs, cement producers have to adjust up sale prices by VND50,000-100,000 per tonne depending on the product.

Hoang Long Cement Joint Stock Company increased the price of all kinds of cement including PCB30 and PCB 40 by VND80,000 per tonne from October 20.

The prices of Vicem But Son Cement Joint Stock Company and Tan Thang Cement Joint Stock Company have also risen by VND80,000 per tonne while the rate of Long Son Cement Company is VND90,000 per tonne.

After the price hike in the first half of this year, cement producers in the central and southern regions this month announced increases to prices in October and November 2021.

From October 21, a tonne of cement of Cong Thanh Cement Trading Company Limited in the central region increased by VND70,000.

Vicem Hoang Mai Cement Joint Stock Company has also announced it would increase its selling price by VND50,000 per tonne for all types of cement in Da Nang, Quang Nam, Binh Dinh, Gia Lai, Kon Tum, Dak Lak, Phu Yen, Ninh Thuan, Binh Thuan and Khanh Hoa starting from October 25.

The sale of Vietnamese cement products reached 77.5 million tonnes in the first nine months of 2021, up 3.5 per cent year-on-year amid the COVID-19 pandemic which had negative impacts on many other industries.

Of the total, export volume was 31.9 million tonnes, up 19 per cent thanks to buying rebound seen in many large export outlets such as the US, Canada and China. State-owned Vietnam Cement Industry Corporation alone exported 14.5 million tonnes of cement, accounting for 45 per cent of the national cement exports.

Viet Nam is currently the fifth biggest cement manufacturer in the world, after China, India, the US, and Russia. Its cement output has doubled within 10 years, from 45.5 million tonnes in 2009 to about 100 million tonnes, turning the country from a cement and clinker importer to the world’s largest exporter of these commodities.

Last year, the country shipped 101.5 million tonnes of these products to overseas markets, representing a rise of 1.5 per cent over 2019.

However, in order to maintain exports, cement producers should apply advanced technologies in production to enhance quality and added value while reducing environmental harm, which would significantly help boost competitiveness, experts suggested.

They should also monitor the cement market and adjust their production plans accordingly to keep prices from falling. In addition, cement firms should also work out long-term development strategies.  

Construction progress of key traffic works accelerated

As soon as COVID-19 pandemic was basically put under control and the whole country returned to the “new normal, the localities gathered human resources and equipment to speed up the construction progress of transport infrastructure projects, creating a driving force to promote socio-economic development while accelerating the disbursement of public investment capital in 2021.

In the last days of October, units in Quang Ninh Province enthusiastically implemented the peak emulation campaign of “100 days and nights to complete three dynamic works", including Van Don – Mong Cai Expressway, the Ha Long – Cam Pha maritime border, and Cua Luc 1 Bridge. They are the projects of strategic significance in the socio-economic development of Quang Ninh as well as provinces and cities in the Northern Key Economic Zone.

The Van Don - Mong Cai Expressway is part of the to the Hanoi – Quang Ninh Expressway. Over 2,000 officials and workers have been mobilised to accelerate the construction of a series of items.

Up to this point, contractors have been focusing on the construction of Cua Luc 1 Bridge with the highest concentration. Director of the project’s management board Nguyen Duc Phuong said that the contractors had built a specific and detailed schedule for each item, charted the actual progress at the construction site, maintained the daily report, and arranged direct supervision to promptly remove difficulties. Once completed, Cua Luc 1 Bridge will contribute to reducing the load on Bai Chay Bridge, ensuring the new development strategy of Ha Long City under the multipolar model, in which Cua Luc Bay is the connection centre. The 18.7km Ha Long - Cam Pha maritime project is expected to be inaugurated by the end of 2021. Thus far, the construction of the 235m-long tunnel, which passes through the mountains, has been basically finished.

The construction site of Rao Bridge, a key project of Hai Phong City, witnessed a busy and enthusiastic atmosphere. Deputy General Director of Hai Phong Transport Construction Investment Project Management Board Dinh Phu Hieu said the Rao Bridge project, which costs over VND2.2 trillion in total, will help enhance the linkages between the city and many other localities. As such, the management board has focused on urging the contractors to speed up the construction progress. The shape of a modern steel arch bridge across the Lach Tray River is gradually taking form. Over 300 workers and vehicles have been gathered for the project, striving to put it into operation ahead of the upcoming Tet (Lunar New Year Festival) in 2022.

In the northwestern mountainous provinces, relevant units have been racing against time to complete the key traffic projects. The engineers and workers have been making efforts to construct the Mong Sen Viaduct in Lao Cai Province, the highest one of this kind in Vietnam. Mong Sen Bridge is a part of the road project connecting Noi Bai – Lao Cai Highway with Sapa. The whole project has received total investment capital of VND2.510 trillion and consists of five bidding packages. From now until the end of 2021, contractors will focus all resources on constructing the remaining workload, striving to put the project into operation within the first quarter of 2022.

The construction of resettlement infrastructure to serve the project of upgrading and expanding Dien Bien Airport has been also accelerated. According to a report by the Steering Committee of the project to upgrade and expand Dien Bien Airport, the investor has completed the land acquisition of more than 1,300 households and 21 organisations, with total area of over 169 hectares. Three resettlement sites have been completed.

Right after COVID-19 pandemic was controlled basically, some south central and Mekong River Delta provinces have focused on removing difficulties and created favourable conditions for the restart of construction works. 

In Binh Thuan Province, all resources were focused for two key transport projects, which received investment from the central and the provincial budgets, including the renewal of the coastal trunk road DT.719B under the Phan Thiet - Ke Ga Cape section and the expansion and upgrading of road DT.719 from Ke Ga to Tan Thien Ward. These two projects will connect the southern coastal tourist areas together, boost tourism development of the locality, take the responsibility as a bypass for the national highway no.1 if traffic jams occur, and meet security and defence requirements.

Following the approval of construction plans and application of COVID-19 prevention and control measures, hundreds of basic construction projects in Hau Giang Province have recommenced with a busy atmosphere. The section between the National Highway 61C (in Vi Thanh City) and Vinh Vien Town in Long My District, under provincial road 931, is being completed with high determination from the contractors and investors. It is expected to be open for trial on December 31.

Progress of several North-South expy subprojects slows down

Obstacles in site clearance and short supply of building materials let alone a hike in the prices of building materials have slowed down the progress of several North-South Expressway subprojects.

According to the Government’s report on the current condition of some sections of the expressway sent to the National Assembly, work on eight expressway subprojects has started. The value of the completed workload has been VND8.9 trillion, over a quarter of its total value.

As for the progress of the subprojects, the Cao Bo-Mai Son section is some 88% complete and is expected for completion this year. A smart traffic system on this section will be set up next year.

Meanwhile, the Cam Lo-La Son section is 61% complete, 8% slower than expected due to storms in the central region last year, the Covid-19 pandemic and the lack of materials for the XL5, XL6 and XL11 packages. In addition, the XL8 package has faced slow site clearance.

The sites for some packages of the section have yet to be handed over, including sites for 100 meters of road in Quang Tri Province and 50 meters in Thua Thien Hue Province. As a result, the subproject may not be completed until next year.

Moreover, some contractors have failed to mobilize human resources, finance and equipment to execute the incomplete workload. As many as 17 contractors have been issued warnings, seven others have been reprimanded, while another contractor has been asked to replace a site manager.

The Government has asked the Ministry of Transport to review the progress of all North-South Expressway subprojects and work out solutions over the slow progress, such as asking workers to work overtime and supplementing workers and equipment.

Regarding the My Thuan 2 Bridge as a component of the expressway project, the completed workload has reached 62.7%, exceeding the plan by 3.43%. The project was to be completed in December 2023.

Further, the Mai Son-National Highway 45, Vinh Hao-Phan Thiet and Phan Thiet-Dau Giay subprojects are some 26.1%, 14.32% and 14.97% complete. Their progress is being ensured and they are expected to be completed in December next year.

As for the National Highway 45-Nghi Son and Nghi Son-Dien Chau subprojects, contractors have prepared machines and equipment and are producing the designs for the subprojects. They are 0.1% and 0.4% complete, respectively, and scheduled to be completed in December 2023.

According to the Government, the site clearance and electricity and telecom infrastructure dismantlement and relocation have encountered multiple bottlenecks, although the prime minister has repeatedly urged localities, the Vietnam Electricity Group, the Vietnam Post and Telecommunications Group and Viettel to complete the job. Specifically, the site for about 10.46 kilometers of the expressway has yet to be handed over, accounting for 1.6% of the total length of the expressway.

To ensure the progress of the North-South Expressway project, the Government proposed the National Assembly ask the delegations of National Assembly deputies of localities where the expressway will pass through to help with promptly removing the obstacles to site clearance and coming up with solutions to ensure the supply of building materials and the stability of prices.

Additionally, laborers of subprojects should be vaccinated against Covid-19 on priority.

Eateries, traditional markets revive trading activities

Nearly one month after the city bringing life back to the new normal state, people are gradually adapting to the current pandemic situation. Most of traditional markets across the city have resumed their operation.

Nearly one month after the city bringing life back to the new normal state, people are gradually adapting to the current pandemic situation.

Before the pandemic, the Vinh Khanh Food Street in District 4’s Ward 8 was often crowded with visitors but it now sees few stores selling fresh seafood.

Other food streets including the area located on the Road No.10 in District 6’s Ward 13 and the Lang Oc in the alley No.450 on Duong Ba Trac Street in District 8’s Ward 1 are similar to Vinh Khanh with a small number of stores reopened instead of more than 200 stalls nearly fully booked as normal day. Shops must move from in-person to online sales via social platforms, such as Zalo and Facebook.

The municipal authorities has allowed restaurants and eateries to restart dine-in services since October 28 but banned them offering alcoholic drinks except for restaurants in District 7 and Thu Duc City while most of customers tend to drink at shops that serve beer on the street.

Therefore only shops selling meals for breakfast, lunch and dinner, such as pho (beef noddle soup), hu tiu (rice noodle), bun (Rice Vermicelli), and coffee shops have a small number of visitors.

At present, 120 among 134 traditional markets in the city have resumed activities under strict safety preventive measures. Under guidance on infection prevention and control for Covid-19, arrivals required to take health declaration while traders have to receive at least one dose of vaccine and get tested for Covid-19 once in three days. Partitions must be installed between sellers and buyers to help prevent the spread of virus. However, only 50 percent of the stalls have reopened.

Head of the management board of the Da Kao market in District 1 Truong Quang Nghia said that traders of the market must have vaccination certificate and negative test result for Covid-19, take periodic Covid-19 test, install partitions surrounding their stalls, keep a safe distance, daily clean and disinfect the workplace.

Only outside market shops are still trading. Customers are afraid of shopping at inner market stalls because of taking health declaration, keeping safe distance in the narrow space.

Ben Thanh markets and others, such as as Hoa Hung in District 10, Nguyen Van Troi in District 3, Ba Chieu and Thi Nghe in Binh Thanh District, Xom Chieu in District 4, Binh Tay in District 6, Tan Binh in Tan Binh Ditrsict, An Dong in District 5, along with markets in suburban districts of Hoc Mon and Binh Chanhh have been unable to find customers.

Additionally, an explosion of illegal markets has been seen around traditional markets. Trade activities in these temporary markets are still bustling, making it difficult for traders in the wholesale market to compete.
Traders of traditional markets and shopping malls hope the Covid-19 pandemic will be drastically controlled, creating favorable conditions for people to recover business activities when the year-end shopping season is coming.

Source: VNA/VNS/VOV/VIR/SGT/SGGP/Nhan Dan