The Civil Aviation Authority of Vietnam (CAAV) has approved proposals from several domestic airlines to increase night flights to meet the higher travel demand during the Lunar New Year (Tet) which falls in late January 2025.

Following recommendations from Vietnam Airlines, VietJet Air, and Bamboo Airways, additional night flights will be operated daily between January 14, 2024 and February 12 next year at Tho Xuan, Dong Hoi, Chu Lai, Phu Cat, Pleiku, and Tuy Hoa airports.

The CAAV has asked the Airports Corporation of Vietnam and the Vietnam Air Traffic Management Corporation to work closely with the airlines and airports to implement the night flight plan.

The CAAV will also monitor seat bookings and airfares on domestic routes to instruct airlines to raise capacity on high-demand routes, meeting passengers' demand during the peak Tet holiday.

Previously, the CAAV decided to increase the frequency of aircraft takeoffs and landings at Tan Son Nhat International Airport during the 2025 Lunar New Year holiday. Specifically, from 6 am to 11.55 pm, the number of flights per hour will rise from 42 to 46, while from midnight to 5.55 am, the frequency will increase to 42 flights per hour compared to 32 at present.

Since September 2024, Vietnam Airlines Group, including Vietnam Airlines, Pacific Airlines and VASCO, has opened the early sale of nearly 1.5 million Tet flight tickets on the entire domestic flight network.

Meanwhile, Vietjet Air also opened the early sale of 2.6 million Tet tickets and Bamboo Airways has just offered air tickets for flights from January 15 to February 12, 2025./.

Seaport stocks surge amid positive sector outlook

Following a recent decline in line with the broader market correction, seaport and shipping stocks are rebounding thanks to a positive industry outlook and rising shipping rates.

During the trading session on November 12, while the VN-Index fell for the fourth consecutive session to 1,244 points, several seaport and shipping stocks such as MVN (VIMC), VOS (Vietnam Shipping) and GMD (Gemadept) maintained upward momentum.

In particular, on November 11, as large-cap sectors like banking, real estate, securities, retail and energy declined, seaport and shipping stocks showed positive movement, with a significant increase in liquidity. MVN hit the daily ceiling for two consecutive sessions, reaching a four-month high. Over just four sessions, MVN surged by nearly 40 per cent, with its market capitalisation gaining approximately VNĐ15 trillion, exceeding VNĐ51.8 trillion (over US$2 billion).

Liquidity surged across these stocks, especially VSC, VOS, HAH, DXP and GMD, with VSC seeing a trading volume of nearly seven million shares — four times the previous session.

The surge in seaport and shipping stocks is attributed to strategic partnerships by the Vietnam Maritime Corporation (VIMC) with international partners. At a Việt Nam–China business forum in Chongqing on November 8, Prime Minister Phạm Minh Chính witnessed the signing of a strategic cooperation agreement between VIMC and Sinotrans. VIMC also recently signed partnerships with DP World in the UAE and Switzerland's MSC Group to develop the Cần Giờ International Transshipment Port and operate international container terminals in Hải Phòng.

According to a report by Yuanta Vietnam Securities, major shipping companies view Việt Nam as a key destination with significant potential for the seaport industry. APM Terminals (under Maersk) and TiL (under MSC) have expressed interest in investing in deep-water container ports and strategic logistics projects in Việt Nam.

The Lạch Huyện port area is seen as a promising location. Currently, the HICT port (operated by Saigon Newport Corporation) manages berths 1 and 2, with an annual capacity of 1.1 million TEUs. Berths 3 are under development, with significant capacity expansion expected in the coming years.

VCBS Securities recommends investors consider key stocks such as Gemadept (GMD), Hải Phòng Port (PHP), and Saigon Port (SGP). Gemadept (GMD) is projected to achieve VNĐ4.177 trillion in revenue for 2024, an 8.6 per cent year-on-year increase, primarily from port operations, with expansions underway at Gemalink phase 2A and Nam Đình Vũ Port. Hải Phòng Port (PHP) anticipates 2024 revenue of VNĐ2.354 trillion, a 9.2 per cent rise, supported by its collaboration with MSC in operating Lạch Huyện berths 3 and 4. Meanwhile, Saigon Port (SGP) is expected to reach VNĐ1.050 trillion in revenue, up 11.4 per cent, as it focuses on the Cần Giờ International Transshipment Port project, set to begin operations in 2027.

However, these companies face risks, including potential overcapacity, fluctuations in shipping rates and possible delays in key projects.

Mirae Asset Securities also recommends SGP with a target price of VNĐ31,100 per share and PHP with similar growth potential. 

German and Vietnamese firms co-operate in livestock farming

Big Dutchman Group of Germany and Hung Nhon Group of Vietnam have entered a strategic Memorandum of Understanding (MoU) in the livestock industry.

Accordingly, the two sides will co-operate in 12 poultry projects in southern provinces of Vietnam between 2025 and 2030.

Upon addressing the signing ceremony in Hanover city, Bernd Meerpohl, chairman and general director of Big Dutchman, revealed that the group is one of the world's leading suppliers of solutions in poultry and pig farming, including high-tech housing and farm equipment.

First established in 1938, the group has made its presence across five continents and has since established offices in more than 100 countries worldwide.

He described Hung Nhon as a professional and trustworthy agricultural group, adding that the local firm has a lot of experience and a deep understanding of the specific business characteristics needed to operate in the Vietnamese market, especially in the field of livestock farming.

He therefore expressed a keen desire to co-operate with Hung Nhon in order to share experiences and fully tap into the strengths of each side to make further significant progress in the future.

For his part, Vu Manh Hung, chairman of Hung Nhon Group, spoke highly of the German group’s strengths, including 90 years of experience in the livestock sector, a strong financial potential, and advanced barn technologies which fully meet international standards.

These can be considered necessary factors for Hung Nhon to realise the goal of becoming an agricultural group with a "green" production chain in Vietnam, which in turn will meet export standards to the Halal market.

He said that the group boasts 17 member companies and the DHN chain system, with about 1,000 hectares of farms in the Southeast and Central Highlands regions.

Cassava exports endures 12.7% fall over 10-month period

Vietnam exported 2.09 million tonnes of cassava and cassava-based products to earn US$955 million during the past 10 months of the year, according to the General Statistics Office (GSO).

These figures represent decreases of 12.7% in volume and 7% in value compared to those from the same period last year.

In October, the country shipped 176,000 tonnes abroad, earning US$76 million to mark a leap of 45.7% on-month in volume and 34% in value.

During the January to October period, China remained as the most significant export market for local goods, consuming 1.93 million tonnes of cassava and cassava-based products from the nation worth US$873 million, down 11.6% in volume and 6% in value from last year.

The second position went to Taiwan (China) with over 40,000 tonnes of cassava and related products worth US$22 million, up 2.5% in volume and 8% in value on-year.

The Republic of Korea came third with more than 37,000 tonnes valued at US$11.8 million, dropping by 61% in volume and 66% in value against last year's corresponding period.

Vietnam currently ranks second in the world in terms of cassava exports, behind only Thailand. The yearly export value of cassava and cassava products has exceeded US$1 billion over the past five years.

SIAL Interfood helps local firms make further inroads into Indonesian market

SIAL Interfood 2024, one of the largest food and beverage exhibitions in Southeast Asia, has helped Vietnamese enterprises gain further entry into the potential Indonesian market, as well as the region and the wider world.

The event is running from November 13 to November 16 in Jakarta, Indonesia, and has attracted the participation of more than 1,200 exhibitors from more than 25 countries worldwide, including Vietnam.

Vietnamese products such as confectionery, cashew nuts, milk, and coffee have all captured great attention from both Indonesian and foreign firms at the expo.

Kelly Sun, sales director of Glory Light Group of China, emphasized that he was interested in the Vietnamese brand Tipo due to reasonable prices on offer coupled with their products’ delicious taste.

Meanwhile, Pham The Cuong, Vietnamese Trade Counselor in Indonesia, said that bilateral trade turnover between Vietnam and Indonesia has increased rapidly recently with Vietnamese exports to this market surging by 22% during the nine-month period.

With a population of roughly 280 million people, there exists great potential for Vietnamese firms in the food and beverage sector to boost exports to this market, he said, adding that Indonesia imports about US$20 billion worth of goods each year.

Despite bright export prospects ahead, Indonesia has set forth strict requirements for products, especially food and beverage items, including Halal certification due a large Muslim population.

In order to conquer this demanding market, Vietnamese enterprises are required to fully prepare all necessary documents to further expand into the crucial market in the coming time, he noted. 

The four-day SIAL Interfood 2024 exhibition aims to attract 90,000 visitors, becoming an ideal place for businesses from around the world to expand their networks, acquire knowledge, and explore new trends.

Retail petrol and oil prices down in latest adjustment

Retail sale prices of oil and petrol were all adjusted down from 3 p.m. on November 14 by the Ministry of Industry and Trade, and the Ministry of Finance.

The price of RON95-III, the most commonly used petrol in Vietnam, decreased by VND250 to VND20,600 per liter, while that of E5 RON92 was listed at VND19,450 per liltre, down by VND290 from the precious price adjustment cycle a week ago.

Elsewhere, the prices of diesel 0.05S and kerosene were capped at VND18,570 per litre and VND18,980 per litre, reducing by VND340 and VND310 per litre, respectively.

Meanwhile, Mazut 180CST 3.5S was sold at no more than VND16,000 per kilogram, falling by VND390.

The two ministries also decided not to use the petrol price stabilisation fund this time.

Since the beginning of this year, petrol prices have undergone 45 adjustments, with 22 times up and 23 times down. Meanwhile, oil prices have experienced 20 times up and 25 times down.

HSBC’s first green trade facility in Vietnamese seafood industry

HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) and Vinh Hoan Corporation (Vinh Hoan) have entered into an agreement whereby HSBC Vietnam will provide green trade financing to Vinh Hoan.

This marks the first ever green facility that HSBC Vietnam has arranged for Vinh Hoan, whilst it is also a first for the seafood sector, demonstrating support for the Vietnamese seafood producer on their sustainability journey.

As a tropical country boasting long coastline covering over 3,000km whilst being home to more than 1,300 seafood species, the nation has plenty of advantages and potential to grow the prosperous seafood sector. The industry accounts for nearly one quarter of agriculture GDP, while the Vietnamese seafood industry is the world’s third largest exporter by turnover, as well as being the fourth largest by output.

However, Vietnamese strengths in the seafood industry might rapidly diminish, particularly as the nation has been warned that it may be one of the top five countries most adversely affected by climate change.

“Dealing with climate change and protecting our economy from its impacts, including the seafood industry, is a priority for HSBC in Vietnam,” said Ahmed Yeganeh, head of Wholesale Banking, HSBC Vietnam.

“It is central to our strategy to support corporates in Vietnam who have a clear sustainability vision and plan like Vinh Hoan. As strategic partner with a relationship spanning 24 years, HSBC is delighted and proud to be accompanying Vinh Hoan in their pursuit of a circular economy, transforming themselves and inspiring others to join the green transition,” he added.

To receive the short-term green trade loan to support their working capital for sustainable seafood production, Vinh Hoan and its subsidiaries have gone through HSBC’s stringent credit approval and management process for sustainable financing.

The green facility must also meet the high standards listed under the international Green Loan Principles, jointly issued by Loan Market Association and Asia Pacific Loan Market Association.

This meaningful first deal in the aquaculture sector indicates HSBC’s efforts in green commitment while supporting Vietnamese corporates in different industries, including real estates, renewable energy, data centre, recycled plastics, and recycled papers, in their green transition journeys.

It also underlines HSBC’s strong sustainable banking product line which can satisfy the increasingly different and sophisticated requirements from businesses.

Lang Son, Guangxi set sights on pilot smart border gate

Authorities of the northern border province of Lang Son and Guangxi Zhuang Autonomous Region of China held an online signing ceremony for a Memorandum of Understanding (MoU) to jointly develop a pilot smart border gate.

The MoU is a crucial step to realise the Framework Agreement signed on June 26, 2023, outlining a robust mechanism for regular meetings and exchanges to drive the pilot project forward.

Under the MoU, the two sides agreed to conduct quarterly meetings, alternately hosted by each side, with urgent sessions to address pressing issues. A hotline and designated contact points will ensure swift communications and settlement of complex matters during the pilot construction phase.

Yang Chunting, Director of the Department of Commerce of Guangxi Zhuang Autonomous Region, expressed his optimism about the project, saying that the construction of the pilot smart border gate is expected to boost the two countries' trade.

Vu Quang Khanh, Deputy Head of the Dong Dang - Lang Son border gate economic zone management board, said Lang Son has been actively developing essential infrastructure to support transportation and border gate facilities for the project./.

Exports of bamboo, rattan, sedge, carpet products reach 594.8 million USD

Vietnam's exports of rattan, bamboo, sedge and carpet products totalled 50.43 million USD in September, a 4.5% decrease compared to last year, according to the General Department of Customs.

Cumulatively, exports of these products reached 594.8 million USD in the first nine months of 2024, a year-on-year increase of 10.3%.

Regarding markets, the US remained Vietnam's largest export destination for these products in the first nine months. Exports of these items to this country reached over 247 million USD, up 21.4% year-on-year and accounting for 41.6% of total exports.

In September alone, it generated nearly 20 million USD, an increase of 12% compared to last year.

Japan ranked second, with 45.4 million USD in exports, a decrease of 11% year-on-year, representing 7.6% of the total.

The UK was the third-largest market for Vietnamese exports in this category, generating 31.6 million USD in the first nine months, up 8.9% year-on-year and representing a 5.3% share.

The UK is among the most crucial export markets for Vietnamese products and serves as their gateway to Europe.

The UK-Vietnam Free Trade Agreement signed in May 2021 is an important continuation of trade facilitation between the two countries after the UK exited the EU.

The agreement has enhanced opportunities to export Vietnamese products through increased access to the UK market.

Positive signals from major markets including the US and the UK indicate that Vietnam’s rattan, bamboo, sedge and carpet export industry is experiencing strong growth.

This development enhances economic value and contributes to promoting the country's image and strengthening the position of Vietnamese handicraft products on the international market.

Currently, Vietnam is among the leading exporters of these type of products. Experts suggest that it is entirely feasible for Vietnam to capture 10-15% of the global market share in this field, with the country having an extensive bamboo area of up to 1.5 million hectares, spread across most provinces.

Out of 63 provinces, 37 have over 10,000 hectares dedicated to bamboo.

Vietnam's bamboo resources are abundant and diverse, with hundreds of species, including economically valuable types.

The country is also home to over 1,000 traditional craft villages specialising in rattan and bamboo weaving, accounting for 24% of the total craft villages.

According to the Forestry General Department, rattan and bamboo weaving represents the highest export value among non-timber forest products in Vietnam./.

Vietnam has potential to become a global supplier of halal food: conference

Vietnam holds significant potential to export Halal food products, ranking among the world’s top 20 and top 15 exporters of food and farm produce, respectively, heard a November 14 conference on promoting the country’s Halal trade.

Participating experts discussed the fact that the Muslim market now includes over 2 billion people, roughly 25% of the global population, with the majority concentrated in Asia, particularly within the ASEAN region. A report from the Food and Agriculture Organization of the United Nations (FAO) shows that the community’s spending on Halal food is steadily rising, projected to reach 1.9 trillion USD by 2024 and 15 trillion USD by 2050.

However, despite its global rankings, the Southeast Asian nation has yet to enter the list of the top 20–30 countries supplying Halal food worldwide and its Halal exports remain modest. This is partly due to challenges related to certification, production and export, such as high investment costs and limited understanding of cultural preferences and standards. The country has only one internationally recognised Halal certification organisation, namely the Halal Certification Agency (HCA) Vietnam.

Nguyen Thi Ngoc Hang, Marketing Manager of the HCA Vietnam, stressed that for Vietnamese products of this category to enter Muslim-majority markets, companies must select credible, internationally credited Halal certification bodies, such as the Department of Islamic Development Malaysia (Jakim), Indonesia’s Halal Product Assurance Organising Agency (BPJPH), and the UAE’s Ministry of Industry and Advanced Technology (MoIAT).

Nguyen Minh Phuong from the Ministry of Industry and Trade’s Asia-Africa Market Department pointed out that Vietnam faces competition from countries like Malaysia, Indonesia, and Thailand, which already have experience and established reputations in Halal exports. Additionally, Middle Eastern and African consumer cultures differ significantly from Vietnam’s, from product consumption styles and flavour preferences to packaging and advertising methods. Other logistical challenges include long transport times, high shipping costs, and uneven infrastructure across African nations, which complicates the maintenance of stable supply chains.

To address these issues, domestic enterprises are encouraged to utilise trade promotion activities, such as participating in international trade fairs and trade missions organised by the Government and local business associations. They should also analyse and assess risks before deciding to expanding into the Halal market.

In February 2023, the Prime Minister approved a national strategy to strengthen international cooperation and develop the Halal industry through 2030. This is Vietnam’s first comprehensive scheme for the sector, aiming to mobilise international resources and help Vietnamese enterprises to integrate more effectively into the global production and supply chain./.

Hai Phong hands over investment certificates to 12 FDI projects

The northern port city of Hai Phong presented investment certificates to 12 major foreign direct investment (FDI) projects worth 1.8 billion USD at a ceremony on November 14.

The event was attended by General Secretary of the Communist Party of Vietnam Central Committee To Lam and representatives from ministries, sectors, local administration and businesses.

The newly licensed projects, comprising both new ventures and expansions of existing facilities in the city's economic and industrial zones, are projected to create some 17,000 jobs in the coming time.

Around 3.5 billion USD in FDI capital was funneled into the city in the January – November period, or 140% of the annual plan.

Hai Phong has maintained strong socio-economic growth in recent years, with an average annual gross regional domestic product (GRDP) expansion of over 11%.

To date, the city has attracted 1,000 FDI projects worth 32.2 billion USD from 40 countries and territories and 228 domestic investment projects valued at 13.7 billion USD, most of which are invested in the manufacturing and processing industries.

Of the total FDI capital, 26.2 billion USD has been channeled to the Dinh Vu - Cat Hai Economic Zone, which has recorded a high occupancy rate of 70%.

Over the recent past, major international corporations, including LG Group, SK Group, and VinFast automaker, have set up operations in Hai Phong, further integrating the city into global value chains./.

Ample opportunities await Vietnamese exporters in South Asia: Workshop

Although South Asia is an enormous market with substantial consumer demand well-suited for Vietnam's key export staples, trade potential with the region remains fully untapped, experts revealed at a workshop in Ho Chi Minh City on November 13.

The workshop, jointly held by Ho Chi Minh City's Centre for International Integration Support (CIIS) and the Ministry of Industry and Trade's Asia – Africa Market Department, highlighted the significant opportunities in the region.

According to Director of the Asia – Africa Market Department Do Quoc Hung, the region, with eight countries and a population of more than 2 billion people, boasts strong purchasing power and is a promising market for Vietnam.

South Asia offer significant opportunities for Vietnamese exports, including machinery, electronics, chemicals, building materials, garments and textiles and agricultural products, yet trade volumes remain below potential, reaching only 16.3 billion USD last year, or less than 4% of the country’s total exports to Asia – Africa.

Statistics from the General Department of Vietnam Customs showed that trade revenue between the two sides in the January – October period was 14.4 billion USD, a year-on-year increase of more than 6%. Vietnam’s shipments grew by 12% to 9.3 billion USD, with key exports maintaining robust growth like telephones, steel, metal, garments and textiles, and rubber.

He held that Vietnamese firms have not tapped into the market to the fullest extent due to limitations in experience, knowledge of the market, stringent technical barriers for exports, and increasing protection measures in the market.

In the same vein, CIIS Deputy Director Huynh Minh Vu said Vietnamese enterprises have been hesitating to explore the market due to obstacles regarding insufficient market information, complicated business environment, and differences in culture and business practices.

He pointed out emerging opportunities beyond traditional industries like garment and textile and agriculture as South Asian countries are diversifying their markets with IT, renewable energy and medical equipment production sectors, saying their economic shifting creates big opportunities for Vietnamese firms, particularly small and medium-sized enterprises which are able to provide high value-added goods and services.

For his part, Vietnamese Trade Counsellor in India Bui Trung Thuong underscored the need for businesses to take the initiative in seeking market information, building specific strategies, establishing partnerships with local firms and renewing their products for successful market access to South Asia.

In the long term, Vietnam should develop its logistics system and transport corridors to reduce shipping costs, thus enhancing Vietnamese products’ competitive edge in this market, he added./.

Long An province promotes investment and trade in France

A Vietnam-France Investment and Trade Promotion Seminar was held in Paris on November 13 to strengthen connections and seek cooperation opportunities between the Mekong Delta province of Long An and France.

The event was part of Long An's investment and trade promotion programme in Europe.

At the event, Vice Chairman of the Long An provincial People’s Committee Huynh Van Son briefly introduced the province’s achievements and advantages.

France ranks second in the European Union (EU) and the 12th out of 41 countries and territories worldwide in terms of investment in Long An, with 12 projects and total registered capital of over 161 million USD, operating mainly in the fields of shipbuilding and mineral water production, he said.

Son emphasised that France is currently the 4th largest trading partner and the 2nd biggest investment partner of Vietnam in the EU with many large investors and many projects across the Southeast Asian country.

Especially after the working trip of Party General Secretary and State President To Lam and a high-ranking Vietnamese delegation to France in early October, Vietnam and France became comprehensive strategic partners, helping to firmly consolidate the foundations of the two countries’ relations, and explore new cooperation areas.

Son noted that the provincial delegation’s visit to France aims to build and develop cooperative relations with French localities and businesses in various fields, especially economic development.

Christophe Bellanger, Vice President in charge of international affairs at the Paris - Île-de-France Regional Chamber of Commerce and Industry (CCI), said that the agency will help promote potential of Long An and other Vietnamese localities to French businesses so that they can explore opportunities to invest or export their products to Vietnam in general and Long An in particular.

Meanwhile, Secretary of the provincial Party’s Committee Nguyen Van Duoc said through the seminar, Long An wants to promote its image and introduce its planning, orientation and priority investment areas to CCI Paris Paris - Ile-de-France and its members. Green and clean energy, industrial production and hi-tech are potential areas for the two sides to cooperate.

Earlier, within the framework of a two-day working visit to France, the Long An delegation visited and worked at the Soletanche Freyssinet Group which is specialising in infrastructure construction. The company operates in more than 60 countries with 7,300 employees, implementing more than 10,000 projects each year. In Vietnam, Freyssinet participated in many large projects such as Thu Thiem 2 bridge, My Thuan 2 bridge, An Dong bridge, Bai Chay bridge and Cua Dai bridge.

On this occasion, the delegation also visited and learned about the Metro Grand Paris Express construction project, a major project of the Paris Region to solve traffic problems of this large area./.

Vietnamese firms confident to take part in North-South high-speed rail project

As the National Assembly is deliberating the landmark North-South high-speed railway project, domestic enterprises are stepping forward with bold commitments to contribute to the 67.34-billion USD project.

Chairman of Hoa Phat Group Tran Dinh Long told the press that the company, among the world’s top 50 steel producers, stands ready to supply an estimated volume of 6 million tonnes of steel required for the project, particularly high-strength prestressed steel and that for specialised high-speed rail tracks.

He stated that Hoa Phat steel meets international standards as well as the project’s technical demands, emphasising its competitive prices over those of imported products.

The steelmaker produces 8.5 million tonnes of steel annually and is planning to expand its crude production capacity to over 14 million tonnes per year by 2025 after the Dung Quat 2 steel complex project is completed.

The corporation has conducted research on steel rail over the past three years, Long said, expressing his confidence that Hoa Phat is able to manufacture the tracks of the high-speed railway.

Experts held that the 1,730-kilometer railway will generate steady, long-term demand in multiple industries, bringing breakthrough opportunities for the steel sector.

In the meantime, Deo Ca Group, a major infrastructure developer in the country, proposed mechanisms to leverage the existing resources of the enterprises that have involved in the North-South expressway project.

The corporation also suggested prioritising domestic firms with sound management capability and creating opportunities for businesses in the localities along the railway route.

According to Deputy Minister of Planning and Investment Tran Quoc Phuong, the railway project will have direct impacts on 7-8 sectors, comprising construction and supporting industries such as building materials and manufacturing.

Last month, Deputy Minister of Transport Nguyen Danh Huy affirmed the railway will be built based on the state budget with minimal reliance on foreign technology transfer. He also underscored the mandatory use of domestically-produced goods, creating opportunities for local firms to participate in the project with a total construction value worth up to 34 billion USD./.

Petrol prices decrease slightly in latest adjustment

The Ministry of Industry and Trade, and the Ministry of Finance have decided to reduce the retail sale prices of petrol products from 3pm on November 14.

Accordingly, the price of E5RON92 bio-fuel was cut by 292 VND to 19,452 VND (0.77 USD) per litre, while that of RON95-III fell by 247 VND to 20,607 VND per litre.

Meanwhile, the price of diesel 0.05S dropped by 344 VND to 18,573 VND per litre and kerosene is now priced at 18,988 VND per litre, down 306 VND. Mazut oil 180CST 3.5S is sold at 16,009 VND per kg, a rise of 385 VND.

The two ministries decided not to use the petrol price stabilisation fund in this adjustment./.

Authorities in the south-central province of Binh Thuan are intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing.

During a conference on November 14, Nguyen Hong Hai, Vice Chairman of the provincial People’s Committee, emphasised the need for decisive actions to tackle this issue. He urged agencies to thoroughly investigate cases of disconnection to the vessel monitoring system (VMS) equipment installed on fishing boats and to enforce appropriate penalties on a case-by-case basis.

Additionally, all “three-Nos” vessels (no registration, no check, and no license) must be registered by November 20, with a goal of eliminating such vessels from the province.

Hai also called for streamlining procedures to make it easier for fishermen to manage logbooks, seafood safety certificates, and commitment papers.

Nguyen Van Chien, Deputy Director of the Department of Agriculture and Rural Development, reported that Binh Thuan is committed to removing the European Commission’s “yellow card” warning against Vietnamese seafood products by taking serious measures to combat IUU fishing, including increasing awareness of fisheries laws and penalties for violations.

To prevent fishing vessels from illegally entering foreign waters, authorities are enhancing management and closely monitoring 173 high-risk fishing vessels. The provincial Border Guard Command has established six checkpoints and collaborated with other agencies to track and closely monitor vessels operating at sea, ensuring prompt detection of boats fishing in overlapping or undefined areas.

As of now, no local fishing vessels have been reported violating foreign waters. The Fisheries Sub-department has assigned staff on duty around the clock at the provincial fishing vessel monitoring center to closely oversee vessels' operations at sea, especially in bordering areas, for timely warning and prevention of illegal crossings.

Binh Thuan has successfully installed VMS on 1,999 vessels that are 15 meters or longer. The province also provides financial support for the installation of VMS equipment and closely monitors vessels entering and leaving ports, ensuring traceability of seafood./.

Hải Phòng hands over investment certificates to 12 FDI projects

The northern port city of Hải Phòng presented investment certificates to 12 major foreign direct investment (FDI) projects worth US$1.8 billion at a ceremony on Thursday.

The event was attended by General Secretary of the Communist Party of Việt Nam Central Committee Tô Lâm and representatives from ministries, sectors, local administration and businesses.

The newly licensed projects, comprising both new ventures and expansions of existing facilities in the city's economic and industrial zones, are projected to create some 17,000 jobs in the coming time.

Around $3.5 billion in FDI capital was funneled into the city in the January – November period, or 140 per cent of the annual plan.

Hải Phòng has maintained strong socio-economic growth in recent years, with an average annual gross regional domestic product (GRDP) expansion of over 11 per cent.

To date, the city has attracted 1,000 FDI projects worth $32.2 billion from 40 countries and territories and 228 domestic investment projects valued at $13.7 billion, most of which are invested in the manufacturing and processing industries.

Of the total FDI capital, $26.2 billion has been channeled to the Đình Vũ - Cát Hải Economic Zone, which has recorded a high occupancy rate of 70 per cent.

Over the recent past, major international corporations, including LG Group, SK Group, and VinFast automaker, have set up operations in Hải Phòng, further integrating the city into global value chains.

VN, Taiwanese tech firms discuss cooperation for smart city development

Intelligent environmental monitoring, carbon emission reduction, customisable platforms for energy applications, multi-factor authentication, and smart city development using 5G technology were among the topics discussed at a seminar on “How Does Smart Tech Shape a Smart City” in HCM City on Thursday.

It was part of a networking programme organised by the HCM City Computer Association (HCA) and the Taiwan Institute for Information Industry.

Taking part was a delegation of seven leading Taiwanese technology companies operating in areas such as smart homes, smart transportation, smart agriculture, cyber security, 5G, AI, and IoT.

Speaking at the event, Võ Minh Thành, deputy director of the city Department of Information and Communications said: “The rapid development of digital technology is opening up unprecedented growth opportunities. Building smart cities is an inevitable trend, where the use of technological solutions and applications is essential."

“However, these tremendous opportunities are accompanied by significant challenges, including risks related to the impacts of urbanisation on resources, infrastructure and social welfare, which must be approached carefully and responsibly.

“Through this seminar, we gain new information and establish a robust cooperation network between organisations and businesses from HCM City and Taiwan (China), creating a strong foundation for sustainable, friendly development in the field of smart cities in HCM City amid the technology boom," he added.

Hoàng Minh Anh Tú, HCA’s vice chairman, said: “We are living in a new era where technology is no longer just a tool but an essential element in almost every aspect of life.

“Smart technology is driving significant changes in the promotion and development of smart cities, fostering innovation and convenience across various fields, from transportation and energy to healthcare, education and administrative management."

“By collaborating with the Taiwan Institute for Information Industry and through practical solutions shared by the Taiwanese technology delegation at this seminar, HCA hopes to bring valuable perspectives, useful information and practical ideas [to local businesses and organisations], while also strengthening cooperation … to jointly build an effective and sustainable smart city ecosystem,” he said.

On the afternoon of November 14, the delegation met with two leading Vietnamese technology companies, Viettel and VNPT, to facilitate discussions on smart solutions and technology development, opening up new prospects for future cooperation.

UKVFTA: a bridge for VN to fulfil $10b export target to the UK

Vietnamese enterprises are being urged to exploit market opportunities and take full advantage of the United Kingdom-Việt Nam Free Trade Agreement (UKVFTA) so that exports to the UK will soon reach the US$10 billion mark.

That was the view of the Deputy Director General of the Multilateral Trade Policy Department, under the Ministry of Industry and Trade, Ngô Chung Khanh.

The UK market has very high requirements for product quality besides competitive prices of goods. The market also has strict technical barriers, such as regulations and standards for food hygiene and safety, especially for agricultural products, Khanh said.

He said that the tastes and consumption trends of products in the UK have also changed significantly. For example, British consumers are increasingly concerned about health, so diet foods such as vegan, sugar-free and gluten-free products are becoming more popular there.

To make more effective use of the UKVFTA, in addition to the support and guidance of State management agencies, businesses should be more proactive in learning and understanding the contents and commitments of the agreement, Khanh suggested.

He also advised local firms to pay effective attention to ensuring compliance, accelerating product development and meeting market requirements.

For its part, the Việt Nam Trade Office will continue to promote the network with the UK business community and Vietnamese overseas enterprises in the UK, to connect and introduce partners to local firms.

Along with providing Vietnamese businesses with updated information on product quality standards and import regulations into the UK, the office will offer them policy information and market opportunities.

Supporting Vietnamese businesses in verifying UK partners, resolving trade disputes and working with supermarket systems in the UK to bring Vietnamese goods into these systems will also be included, he said.

The UKVFTA was completed on December 11, 2020 and signed later that month on December 29, with the agreement becoming effective since May 1, 2021.

The agreement is a driving force in promoting bilateral trade relations between the two countries. After over three years of implementation, the UKVFTA has created economic momentum to support businesses from the two nations, Khanh told baodautu.vn.

In 2021 - the first year of UKVFTA taking effect - bilateral trade between Việt Nam and the UK reached US$6.6 billion, a year-on-year increase of 17.2 per cent.

Despite a decrease in two-way trade in 2022 due to economic difficulties of the world and the UK as well, Việt Nam's exports to the UK still rose two per cent year-on-year, with some major export items recording double-digit growth.

Over the past nine months of this year, two-way trade hit nearly $6.5 billion with $5.7 billion form Vietnamese exports, up 22 per cent year-on-year.

Besides trade, investment from UK businesses to Việt Nam also witnessed improvement after the implementation of the UKVFTA, Khanh said, adding that as of October 2024, the UK had more than 580 projects in Việt Nam, with a total registered investment capital of over $4.4 billion, ranking 15th out of nearly 150 countries and territories investing in Việt Nam.

These figures show the effectiveness of the UKVFTA on export and investment activities between the two countries, Khanh noted. 

Electricity demand in 2025 to be basically met: ministry

The Ministry of Industry and Trade has developed three scenarios for electricity supply in 2025, in which the electricity demand for the country will be basically met, although there might be some tense times during peak dry season months, a conference on Thursday heard.

At the meeting to discuss plans for 2025, Minister of Industry and Trade Nguyễn Hồng Diên said accurate forecasts, careful preparations and flexible operations are needed to ensure power supply, in order to promote socio-economic development.

Electricity plans should be developed based on economic growth target which is expected at more than 7 per cent next year, meaning that the electricity demand will increase by 11 per cent or higher, especially in peak dry season months.

Other factors which affect electricity demand growth in 2025 should also be taken into account, Diên said.

He pointed out that an estimated sum of more than US$40 billion worth of foreign investments are being disbursed this year, which will push up electricity demand in 2025. In addition, global investment shifts, in which Việt Nam emerges as an attractive destination, will impact electricity supply planning.

Next year, a number of major national projects will be completed or implemented, he noted.

The impacts of the amended Law on Electricity which is expected to be passed at the 15th National Assembly’s eighth meeting as well as policies such as direct power purchase agreement (DPPA) and rooftop solar power should also be considered.

According to the National Electricity System and Market Operation Company Limited (NSMO), in the first scenario, electricity demand in 2025 will increase by 10.5 per cent over this year to reach 342.3 billion kWh.

In this scenario, the national power system will meet the demand for socio-economic development for the entire year, NSMO said.

In the second scenario, the electricity demand is projected to increase by 13.3 per cent to 351 billion kWh. In this scenario, the national power system can meet the demand for most of the year. However, NSMO noted that thermoelectricity sources must be fully mobilised, while the domestic gas-fired and LNG power sources must be mobilised at a high level.

In the highest scenario, the electricity demand is projected to increase by 14.3 per cent in 2025 to 354 billion kWh. This scenario might happen if there is a coincidence of factors such as low water levels and thermoelectricity plants having problems in peak dry season. NSMO said that in this scenario, besides mobilising sources in the second scenario at the highest levels, demand response will be necessary together with the mobilisation of diesel – fired power from April to June.

Diên said that the first scenario should be the base scenario for management with the electricity demand to increase by around 11 per cent and 12 per cent in the dry season.

He also asked the electricity system operation and supply plans to be reviewed quarterly based on the monthly evaluation with flexibility. Together with the electricity supply plan, there must be plans of coal and gas supply for electricity production, Diên said.

According to Vietnam Electricity (EVN), there will be some risks of power shortages in the northern region in the peak dry season months from May to July.

EVN pointed out that one of the problems in regards to electricity supply next year is the possible strong drops in gas supply for electricity production compared to previous years.

Most new power generation projects are slow to be implemented, while most large hydropower projects have been developed and put into operation, there are only several small-scale hydropower projects under construction.

The implementation of thermoelectricity projects is also struggling with getting credit after Việt Nam committed to achieve net zero by 2050.

Gas-fired power, except for Nhơn Trạch 3 and 4 and Hiệp Phước 1 with a total capacity of around 2,828 MW, which may go on line by 2030, can hardly be completed.

With regard to offshore wind power, EVN said that Việt Nam has set the goal of having 6,000 MW by 2030. However, it takes around 6-8 years to develop an offshore wind power projects. Policies for offshore wind power is just being developed.

Renewable energy projects under the eighth national power development plan are also waiting for policies and mechanisms for implementation.

NSMO estimated that the total electricity output, including imports, of the entire system in 2024 at 309.7 billion kWH, a rise of around 10.09 per cent over 2023 and 878,000 kWH lower than the 2024 plan.

Traditional power sources, including hydropower and thermoelectricity, are expected to add 4,081MW to the system by the end of 2025, while renewable energy sources will add 1,177 MW. 

Central province selects OCOP products to be promoted in the US

The Quảng Ngãi Province's Department of Agriculture and Rural Development has included ten OCOPs (One Commune One Products) – all of which represent unique sustainable brands for high-value local products – for promotion and introduction into distribution systems in the US market.

Vice director of the department, Từ Văn Tám said these products including maltose-rich malted sugarcane extract, Lingzhi mushroom (Ganoderma lucidum), ‘salt flowers’ (fleur de sel or flake salt (surface-crystallised salt layers), salt cooked in a bamboo tube and terra-cotta pots.

Also in the list are fine arts product made from cinnamon bark and cinnamon extract oil and black garlic (fermented garlic), dried garlic root and extracts of garlic, from the recognised farm produce brand from villages and communes in Lý Sơn Islands, Mộ Đức, Sa Huỳnh and Trà Bồng districts.

He said the OCOP products will be used in an exhibition and made-in-Việt Nam product promotion programme in the US market which is being run by the Ministry of Agriculture and Rural Development.

The central province has been building various OCOP brands to boost local community-based sustainable tourism and heritage preservation, in order to make them key breadwinners for the provincial budget and communities.

Quảng Ngãi approved a conservation project of the Sa Huỳnh salt field with funding from the United Nations Development Programme and a small grant from the Global Environment Facility.

Organic crops come from sustainable development on Lý Sơn Islands, 30km off the coast of central Quảng Ngãi Province, Đức Phổ and Mộ Đức districts and the wetland-based Bình Sơn District.

The central coastal province has developed 191 OCOP products, of which 17 have been recognised as four-stars for premium quality, from 13 communes and villages.

Export turnover of farm produce, seafood and forestry products earned the province US$328 million last year.

In the first 10 months of 2024, the agricultural production reached VNĐ19.5 trillion ($780 million). 

Real estate credit increases despite slow market recovery

Real estate business credit and the proportion of individual corporate bond issuance have continued to increase sharply in the context of supply and transactions in the property market not showing much improvement.

Real estate credit in the third quarter reached VNĐ1.3 quadrillion (US$51 billion), an increase of 29.2 per cent over the same period last year. The credits for construction, repair and home buying only accounted for over VNĐ125.8 trillion, the remaining were loans for real estate business activities. 

Meanwhile, in September alone, there were 24 private corporate bond issuances worth VNĐ22.3 trillion and one initial public offering worth VNĐ1.7 trillion. 

Enterprises bought back VNĐ11.7 trillion of bonds before maturity, up 2 per cent compared to the same period in 2023. 

In the third quarter, trading bonds by some real estate enterprises increased sharply again, said deputy director of the Department of Housing and Real Estate Market Management, Hoàng Hải. 

Some banks' financial reports of the third quarter also showed that real estate credit is on the rise. For example, real estate credit at Techcombank reached nearly VNĐ210 trillion, up 18.6 per cent compared to the beginning of the year, accounting for nearly 35 per cent of the total outstanding loans.

VPBank also had a growth rate of 43.5 per cent in real estate credit to VNĐ165 trillion, accounting for nearly 26 per cent of total outstanding loans. 

Notably, some banks posted record high growth in real estate credit, such as VIB (up 275 per cent) and Kien Long Bank (up 172 per cent) compared to the beginning of the year.

The Government's supportive measures have helped the domestic real estate market to improve. However, the market recovery has not been as expected, according to the Ministry of Construction.

The ministry's latest report shows that in the third quarter, 16 commercial housing projects were completed nationwide, up by 78 per cent compared to the second quarter, but only 76 per cent of volume in the same period in 2023. While, only one social housing project was partially completed. 

Notably, the real estate inventory in the third quarter was about 25,937 products, up by 50.6 per cent compared to the second quarter of 2024. 

However, real estate prices in the third quarter still continued to increase, especially in larger cities such as Hà Nội and HCM City, with an average increase of 4-6 per cent per quarter and 22-25 per cent per year. Some areas recorded an increase of up to 35-40 per cent.

Vice chairman of the Việt Nam Real Estate Association, Nguyễn Văn Đính, was quoted by Kinh tế Đô thị (the Urban & Economic Affaris) newspaper who said: “The impressive growth figures of real estate loans from banks have demonstrated the Government's efforts on removing difficulties of enterprises.

"Many new projects have been marketed, helping to increase the supply. However, improving the confidence of investors and home buyers in the market is still slow, especially those who are facing financial pressure from previous loans.”

Vice chairman of the Hà Nội Real Estate Club, Nguyễn Thế Điệp said that the growth of real estate loans from banks shows that they have widened the lending conditions for the businesses, thereby helping businesses to be able to repay bonds due for payment and restart projects.

“However, it needs to be careful with the risks from banks pumping a lot of capital into real estate market. In case of bad business performance leading to bad debt, the bank is forced to auction the mortgaged assets," Điệp said. 

Meanwhile, recovering capital from the enterprise's mortgaged assets is not a simple process, because many projects cannot be sold although the bank has auctioned dozens of times, he said.

President of the National Economics University, Prof. Dr. Phạm Hồng Chương said commercial banks did not need to pump too much credit to high-end real estate projects, they could instead focus on projects that meet the real housing needs of the people. 

At the same time, it is necessary to issue appropriate lending criteria for each type of real estate, along with strengthening the control and supervision of lending conditions and use of loans to limit bad debt.

At present, one of the important issues is that the Government needs to have policies helping the enterprises to take capital sources from bonds. 

It should also promote attracting foreign investment to create other long-term capital channels and real estate investment funds. Those will diversify capital mobilisation channels, besides bank credit capital and the corporate bond market, Chương said. 

Air and sea logistics centre to play key role in FTZ

The establishment of a Free Trade Zone (FTZ) in a model of an integrated economic urban area linked to a deep-sea port, a logistics zone and a production, trade and service zone will help Đà Nẵng become a national and ASEAN regional centre of logistics and transhipment.

Vice chairman of the city’s people’s committee Trần Chí Cường made the pledge at the Forum on Free Trade Zone – a new driver of the development of Đà Nẵng Ciy’s logistics sector. He stressed the important role of logistics and multi-transport service, as well as an attractive target for global investment in the future.

Cường said the city now has a green light from the National Assembly on urban governance and specific mechanisms-policies for the development of Đà Nẵng City, building it as a prototype of the first ever FTZ, before applying the model in other provinces and cities.

“The city has been awarded advantage implementation rights in boosting dramatic economic growth in history, turning it into a key attraction of investment, logistics, production and export base for giant international investors and domestic groups,” he said.

“Đà Nẵng will take it all the way to accelerate the long-term economic growth on the basic power of the on-going construction Liên Chiểu deep-sea port, airport logistics centre, and a series of industrial parks and inland depots.”

Vice minister of Industry and Trade, Trương Thanh Hoài said the Đà Nẵng FTZ has been designed as a first sample, a magnet for attracting global investment and production, helping the city’s logistics industry integrate deeper in the global logistics chains.

The city experienced stable growth from 2011-21, averaging between 7 to 9 per cent, responsible for a share from six to 9 per cent in the Gross Regional Domestic Product, he said.

Đà Nẵng has a natural advantage situated in an important gateway to international maritime routes, he said, adding that the city has developed a logistics ecology of more than 1,000 logistics service businesses.

Bùi Quang Bình, a member of the Đà Nẵng FTZ consultancy group, said that the FTZ will be developed into a key base for foreign direct investors setting up their factories in related to global exports with available deep-sea port and airport logistics service.

Bình said global brand logistics groups including DHL, FedEx, DB Schenker are operating well in Việt Nam, but the Đà Nẵng FTZ should be luring them (logistics groups), expanding investment and logistic bases for global booming demands in the city.

Trần Thị Hồng Minh, director of the Central Institute of Economic Management, suggested that the Đà Nẵng FTZ should look at low carbon, ‘green’ and digital transformation technology industries for long-term sustainable development.

The city should streamline procedures in customs, administration and paperwork, giving priority to investment in hi-tech and ‘renewable’ industries in the FTZ.

Deputy general director of Đà Nẵng Port joint-stock company Lê Quảng Đức emphasised the important role of deep-sea ports in the development of the FTZ.

Đức said the growth of the sea port service and logistics will be a key driving force for the FTZ because it was designed as a centre of export-related manufacture.

“The under-construction Liên Chiểu port should be included in the FTZ as the port will be a key transhipment site for the ASEAN and Asia Pacific region. The port will deliver smooth access to the global maritime route through east-west economic corridors that connect Myanmar, Thailand, Laos and Việt Nam,” he explained.

Đà Nẵng Port handled 750,000 TEUs per year, and it would receive 55 per cent of total commodities through the port in 2050.

Trần Quang Huy, from the Dubai-based DP World logistics company, said the Đà Nẵng FTZ will need infrastructure investment from the State agencies in creating smooth traffic, while customs procedures should be digitalised for investors and businesses.

Nguyễn Nghiêm, from the Mabuchi Motors company, said the Đà Nẵng FTZ needs an extraordinary investment policy and mechanism that make it different to the other regional FTZs.

“The city’s FTZ should call for investment from giant groups that would help attract the other suppliers in manufacturing. The FTZ could form a mega storage centre of material for production and emerging new investment and distribution chains,” he said.

“Our company, which invested in the city 20 years ago, often exports from 180 to 200 TEUs of local-made products, contributing to our production chains for 70 per cent of the global market,” he added.

Đà Nẵng City has been looking for strategic investors with an investment fund from VNĐ2 trillion (US$80 million) to VNĐ8 trillion ($320 million) in the FTZ.

Different locations of key function sites including manufacturing and services, over an estimated area from 1,000ha to 1,500ha, are in the planning stage.

Vice chairman of the city’s People’s Committee Cường said the FTZ project plan will be submitted to the Prime Minister for approval by the end of 2024, and the FTZ would be officially introduced in the first quarter of 2025.

RoK to build a cold chain logistics centre in Hải Phòng

The Ministry of Oceans and Fisheries of the Republic of Korea (RoK) announced on Wednesday that Jeil Engineering and Construction is breaking ground on a cold chain logistics complex today in Nam Đình Vũ Industrial Park, Hải Phòng, Việt Nam News Agency reported.

The logistics complex, stretching more than 37,843sq.m, will be equipped with ambient and refrigerated storage facilities. It is expected to go operational in 2026 and will facilitate the operation of Korean firms in the region.

Minister of Oceans and Fisheries Kang Ko-hyeong said that this is a part of the RoK Government’s effort to expand the development of logistics centres in Southeast Asia, the US and the EU to support the operation of Korean firms with stable logistics services. The RoK plans to increase the number of logistics services abroad from five to eight by 2027.

Hải Phòng is a major port city in the northern region of Việt Nam that plans to become a modern international logistics services hub by 2030. 

Beer factory costing over $100 million to be built in Hậu Giang

The authority of the southern province of Hậu Giang has backed the speedy build of a beer factory, which could create jobs for hundreds of locals.

The Camel Hậu Giang Beer and Beverage Factory is expected to produce 400 litres of beer and beverages each year for the province and the Mekong Delta.

It is also expected to provide jobs for locals in Hậu Giang and neighbouring provinces, as well as opportunities to upskill and earn higher incomes.

The factory requires over 100,000 sq.m of land and VNĐ2.7 trillion (US$106.3 million) in investment to be built. The capital is comprised of over VNĐ555 billion from the investor Camel Beer International Joint Stock Company and VNĐ2.2 trillion in loans.

On a working session on Wednesday, vice chairman of the Hậu Giang People’s Committee Nguyễn Văn Hòa urged relevant authorities to speed up land clearance and investment procedures for the factory’s establishment.

“The lands reserved for the factory should be cleared and handed over to the investor by the end of November,” he said.

“Management boards of industrial parks should collaborate with investors to complete the investment plans, and present them to the province’s People’s Committee.”

The factory is expected to begin operations in the second quarter of 2029, according to Trần Ngọc Hùng, head of the Management Board of Industrial Parks in Hậu Giang Province. It is expected to contribute more than VNĐ2.8 trillion annually to the provincial budget. 

VNA/VNN/VNS/VOV