The Ministry of Industry and Trade (MoIT) has improved the efficiency and quality of connecting supply and demand, as well as cooperation between businesses and localities, making an important and positive contribution to the country's economic development.

This was heard at a forum on promoting effective connection between supply and demand organised by the MoIT’s Việt Nam Institute of Strategy and Policy for Industry and Trade (VIOIT) in Hà Nội on Thursday.

In a situation where the world was facing many changes, promoting the connection between supply and demand was not only a way to promote economic development but also a necessary direction to build a strong economy, meeting market needs and ensuring sustainable prosperity for the future, said VIOIT deputy director Vũ Quang Hùng.

The connection between supply and demand helped optimise resources and encourage innovation and product development, as well as create cooperation opportunities and enhance competition, he added.

In recent years, in order to connect products with provinces and cities nationwide, the MoIT has organised conferences to connect supply and demand with provinces and cities and support businesses.

Through conferences, businesses interact, exchange and learn from experience; from small and fragmented production activities, through trading activities, connecting supply and demand has contributed to businesses gradually shifting to new approaches to the market.

“These activities help businesses on awareness of how to create brands and packaging, how to grasp consumer tastes and trends, build brands for business and products, especially improving product quality to gain a foothold and compete in the market,” said Đoàn Mạnh Trường, a representative from the MoIT’s Agency for Regional Industry and Trade (ARIT).

The ministry has coordinated with provincial departments of industry and trade to successfully organise 28 typical rural industrial goods exhibitions at regional and national levels in the 2013-2022 period.

Each exhibition has about 350 - 450 standard booths and on average the participation of about 155 - 200 rural industrial enterprises.

The ministry has effectively implemented the project to promote Vietnamese enterprises to participate directly in foreign goods networks. It has organised Việt Nam Weeks in countries around the world, such as France, Thailand, Japan since last year.

It organised the 2023 International Goods Supply Chain Connection event with 1,000 trade connections between 200 reputable Vietnamese export enterprises, mainly agricultural, forestry, and fishery export enterprises, and connected with 150 foreign purchasing and distribution delegations.

Besides the results achieved, the connection between manufacturers and distributors also has difficulties, said Trường. Bringing products to large distributors such as supermarkets still faces certain obstacles, especially for small manufacturing establishments.

Labour shortage still caused difficulties for businesses, especially trained workers. Vocational training for workers had not met the development needs of businesses, he said.

Some businesses have had to narrow their production and business scale and have difficulty in implementing investment schedules in production expansion projects.

Counterfeit goods and poor quality goods are still mixed in the market. The management of price listing and selling at listed prices is mainly carried out in supermarkets, while in markets, the situation of listing prices but not selling at listed prices is still common.

The organisation of Vietnamese goods markets in residential areas is only aimed at sales purposes, but has not yet created a strong impact on the "Vietnamese people prioritise using Vietnamese goods" campaign.

Consumers are greatly affected by advertising through electronic and cross-border electronic platforms, causing confusion for businesses and consumers about product quality and brand, causing loss of trust and endangering the health of consumers.

To promote activities connecting the supply and demand of goods and develop markets to promote the strengths of the provinces, creating opportunities for socio-economic development, the ARIT proposed State management agencies innovate and promote trade promotion; consult and support businesses and production facilities in branding, packaging, brand development, product promotion, combined with the development trend of e-commerce.

The agency also recommended the promotion for the role of bridge, introduction, and co-operation in production and consumption of products between commercial enterprises and producers; introduction of products and goods to participate in the supply chain of distributors, shopping centres, supermarkets, and convenience stores nationwide.

It also proposed management agencies study to change the form of organisation to connect supply and demand, in which the conference to connect supply and demand should have consulting content to support businesses in market development and brand building.

State management agencies must also strengthen market management, have plans to manage prices of essential goods, regularly inspect and control the market to avoid shortages and price fever, promptly detect and handle acts of smuggling, production and trading of counterfeit goods, commercial fraud, speculation, price increases, and illegal profiteering that destabilise the market. 

Alibaba continues alliance with VIETRADE to support Vietnamese firms

Alibaba.com, has continued collaboration with the Việt Nam Trade Promotion Agency (VIETRADE) at the Việt Nam International Food Industry Exhibition 2023 (Vietnam Foodexpo 2023).

The focus is on supporting the effective involvement of food industry businesses in the Việt Nam Pavilion on Alibaba.com, highlighting its commitment to fostering domestic market development and facilitating global exports.

This event, held from November 22 to 25 at the Saigon Exhibition and Convention Center (SECC) in HCM City, serves as a crucial platform that brings together domestic and international agricultural and food enterprises.

At the exhibition, Alibaba.com not only showcased its B2B digital trade solutions but also actively participated in the conference on IT application and digital transformation in trade promotion.

Hoàng Minh Chin, VIETRAE’s Deputy Director said: “The presence of global e-commerce partners such as Alibaba.com has demonstrated the strength, attraction, and prospects of Việt Nam's e-commerce market. Alibaba.com B2B e-commerce solutions play an essential role in changing the business viewpoint of domestic enterprises, assisting Vietnamese businesses in expanding commercial connections, particularly with the worldwide market via the Alibaba.com platform, which is present in many countries.”

Mike Zhang, Head of Việt Nam Business at Alibaba.com, said: “Our dedication at Alibaba.com goes beyond business. We stand by our supplier customers every step of the way, offering tailored support, from assisting them in launching their e-commerce presence to fostering growth and efficiency. Our focus is on elevating and championing the aspirations of Vietnamese SMEs, contributing to their success in the global marketplace.

In a concerted effort to better support key industries in Vietnam, such as the food and beverage sector, Alibaba.com and Vietrade are set to reinforce their partnership by establishing the Việt Nam National Pavilion on Alibaba.com. This dedicated platform will feature a curated selection of one hundred distinguished Vietnamese suppliers, providing them with a significant opportunity to showcase their products. An announcement of the supplier selection criteria is scheduled to be made on November 28.

Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world.

Hà Nội promotes investment, trade and tourism connections with Northwest provinces

A conference to promote investment, trade and tourism among Hà Nội and the Northwest provinces took place in Lào Cai Province on Thursday afternoon.

The conference saw the participation of over 200 delegates, including leaders of the departments of industry and trade; departments of planning and investment; centres for investment, trade and tourism promotion of Lào Cai, Lai Châu, Điện Biên, Hòa Bình, Sơn La and Yên Bái, and some others; besides representatives of business associations, businesses, investors, domestic and foreign distributors.

The event aimed to better introduce the investment and business environments of Hà Nội, Lào Cai and other provinces in the Northwest region, and their potential in investment, trade and tourism, said Deputy Director of the Hà Nội Promotion Agency Lê Tự Lực.

It was also expected to support enterprises to advertise their products and seek cooperation opportunities, promoting the implementation of the “Vietnamese people prioritise Vietnamese goods” campaign, Lực said.

Lực added that the event also demonstrated the capital city's commitment to accompanying businesses in these provinces to accelerate the consumption of Vietnamese products in local and foreign markets with an attempt to speed up their socio-economic development and cement the relationships among Hà Nội and localities nationwide.

According to Lực, Hà Nội has always affirmed its leading position in attracting foreign investment as the city has been constantly improving the investment and business environment, actively reviewing administrative procedures, and simplifying and speeding up the time for businesses and investors to fulfil procedures.

At the same time, local authorities also held dialogues with businesses to remove obstacles in doing business in the city, besides investment and trade promotion activities in domestic and key international markets, he noted.

Statistics from the municipal Department of Planning and Investment revealed that Hà Nội attracted over US$2.6 billion worth of foreign investment over the past 10 months, ranking third in the country.

During the period, about 340 new projects were registered in the city with a total registered capital of $321 million. Foreign investors also increased their capital by $242 million during the period.

From January to October, the city welcomed 20.7 million tourists, up 34.4 per cent year-on-year. Of the sum, international arrivals hit 3.6 million, 3.5 times higher than the same period last year, while the remainder of 17.1 million was local visitors, up 19 per cent year-on-year.

The city earned revenue of VNĐ76.3 trillion from tourism activities during the 10 months, surging 66.7 per cent over the same period last year.

For his part, Hà Đức Bình, Director of the Centre for Industry Promotion and Trade Promotion of Lào Cai, said his province was considered a trade transit point on the Kunming-Lào Cai-Hà Nội-Hải Phòng- Quảng Ninh Economic Corridor that connected Việt Nam and ASEAN countries with China's southwest localities.

Every year, a large amount of agricultural and seafood products were exported through Lào Cai International Border Gate.

Bình said Lào Cai Province was striving to become a centre that could facilitate economic relations among Việt Nam, and other ASEAN countries with the Southwest region of China with open mechanisms and preferential policies to attract investment, and promote trade and tourism.

Currently, the province is home to 28 valid foreign-invested projects with a total registered capital of nearly $686 million. It has also 12 domestically-financed projects worth over VNĐ5.66 trillion.

The province's trade turnover topped $1.76 billion over the past 10 months or equivalent to 35.2 per cent of the yearly target.

In terms of tourism, it received over 6.49 million visitors including 416,000 foreigners in the reviewed period, up 66 per cent year-on-year or 8 per cent higher than the yearly goal. Its tourism revenue also saw a strong growth of 45 per cent to over VNĐ19.84 trillion.

During the conference, several memorandums of understanding (MoUs) were sealed among businesses and associations including an MoU inked between Lào Cai Business Association and the Hà Nội Association of Small and Medium Enterprises; an MoU signed between TraphacoSapa Co and Hà Nội Association of Small and Medium Enterprises and an MoU inked between HanoiTourist Co and Lào Cai Business Association.

Business matching sessions to help participating businesses seek new co-operation opportunities were also held along with the event.

Meanwhile, an exhibition showcasing typical products from Hà Nội and some Northwest provinces such as OCOP goods, handicrafts and farm produce opened its doors on Thursday in Lào Cai City.

Covering 3,000sq.m, the expo also introduces the achievements, potential and investment environment of Hà Nội city and some localities in the Northwest region, and their tourism potential and products.

The event will run until Sunday. 

Great potential for Vietnamese goods to enter Africa, Middle East

An online workshop discussing measures to further promote the export of products to Africa and the Middle East was held by the Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency on Thursday.

Addressing the event, Nguyễn Minh Phương, head of the West Asia – Africa Office under the MoIT 's Department of Asia – Africa Markets noted that Middle Eastern countries must import up to 80 per cent of food and foodstuffs, equivalent to US$40 billion each year, while African countries also import goods with similar value every year. Notably, the requirements for quality and product design of these markets are not too strict.

Trương Xuân Trung, who is in charge of the Vietnam Trade Office in the United Arab Emirates (UAE), said all Vietnamese goods can be exported to this market if they meet standards, noting that the UAE is also a regional and global transit centre, so there is potential to re-export goods from this market.

According to Trung, Việt Nam is the largest exporter of agricultural products to the UAE among ASEAN countries. In the first 10 months of 2023, Việt Nam's export of cashew nuts, rice, fruits and vegetables, and tea increased by 60 per cent, 30.9 per cent, 18 per cent and 15.4 per cent, respectively.

Notably, agricultural products exported to the UAE are not yet subject to taxes, therefore, Vietnamese goods, even without the geographical advantage, can still compete in this market, Trung noted.

Furthermore, the UAE is a member of the Gulf Cooperation Council (GCC), so Vietnamese goods exported to the UAE and re-exported to other GCC countries are not subject to double tax.

Nguyễn Duy Hưng from the Vietnam Trade Office in Egypt said agricultural products including tea, pepper, cashew nuts, coconut rice, coffee, and seafood are the main exports of Việt Nam to Egypt. However, these products are facing fierce competition from similar goods from other countries.

A representative of the Vietnam Trade Office in Nigeria emphasised that as the most populous country in Africa and the fastest-growing consumer market in the world, Nigeria is a potential market for Vietnamese goods. The country’s consumption growth is predicted to surge by 150 per cent to $603 billion in 2030 from $240 billion in 2023. Nigeria is also forecast to be the world's largest rice importer in 2024 with a total volume of about 2.1 million tonnes.

Speakers advised domestic exporters to be cautious in trade transactions with partners in Africa and the Middle East, saying that the risk in payment is the most important issue to pay heed to.

Businesses should choose a safe payment method such as a letter of credit (L/C) to avoid fraud, they said. 

Việt Nam promotes green transformation in exports

Vietnamese businesses need to promote green transformation in production and export to develop sustainably and meet the global green consumption trend.

Deputy Minister of Industry and Trade Đỗ Thắng Hải was speaking at the Vietnam Export Promotion Forum 2023 with the theme of green export promotion held in Hà Nội on November 24, by the Department of Trade Promotion (Ministry of Industry and Trade) with the coordination of Swiss Import Promotion Programme.

The forum aims to discuss practical solutions for green development and green export and supportive solutions for businesses to meet the requirements of import markets.

In his opening speech, Hải said that the issues of green development and green export were no longer new topics. Green growth, green development and circular economy have become global trends because they are positive solutions to reduce greenhouse emissions, and improve the resilience of the economy, towards the goal of carbon neutrality and sustainable development.

According to the Deputy Minister, green and sustainable development is one of the important tasks in Việt Nam's 10-year socio-economic development strategy 2021-2030; the Goods Import and Export Strategy to 2030; and the National Strategy on Green Growth for 2021-2030 period, vision to 2050.

Meanwhile, many developed countries in the world have set stricter environmental regulations for imported goods, such as the EU Carbon Border Adjustment Mechanism (CBAM); Farm to Fork Strategy; EU's Circular Economy Action Plan, and EU Biodiversity Strategy for 2030.

According to the Deputy Minister, in order not to be eliminated from the game due to the high environmental and social standards set by the import markets, exporting countries, such as Việt Nam, need to pay attention to the "green" supply chain in international trade activities to meet the strict technical requirements of the import market.

Deputy Minister Hải emphasised that in order to reach the goals, from 2022, the Ministry of Industry and Trade had oriented and supported local businesses in converting growth models towards reducing carbon emissions. The ministry had also promulgated policies and mechanisms to support the enterprises in carrying out solutions on applying green technology and improving energy use efficiency.

The Government had approved the National Electricity Development Plan for the period 2021-2030, vision to 2050, with the goal of promoting the development of renewable energy sources and sharply reducing coal power.

In addition, the Ministry of Industry and Trade had regularly worked with Vietnamese trade agencies abroad, organisations and commodity associations to exchange information and update the latest information on international regulations and legal policies of importing countries, especially regulations on the reduction of greenhouse gas emissions, and policies and standards on green products.

This helped local businesses improve awareness and capacity in the process of production and business, meeting the regulations of importing countries.

Director of Trade Promotion Agency Vũ Bá Phú said the local enterprises needed to focus on developing green exports because products that meet green standards and carbon certification would have higher selling prices than the normal export products.

Second, green exports would improve competitiveness as green export products would not have to be paid carbon tax, while similar products from other countries that had not yet met green standards would have to pay carbon tax. This would be an opportunity for local enterprises to improve competitiveness if they achieve green standards.

Besides that, Việt Nam was preparing to issue indicators about green transformation in trade promotion and export promotion. That was an action to perfect the legal document in the development of green export.

Clement Graf, head of Sippo Programme said his first recommendation would be proactive in the process of green transformation. Việt Nam's enterprises should get in touch with their clients in Europe to have requirements relating to green exports in the future. This would help Việt Nam's enterprises to prepare for what the clients need from them.

At the forum, Đinh Quốc Thái, Vice Chairman and General Secretary of the Vietnam Steel Association, said that the steel industry - one of the industries that use a lot of energy and create emissions, was forced to speed up the process of green transformation and reduce emissions to increase exports to the EU, and to achieve net zero in the long term.

However, it was not easy for the industry's businesses to fulfil this requirement because making green steel is a long road. That would need financial and technological resources, as well as the initiative of businesses, especially when regulations are reduced. Carbon emissions were still new.

According to Thái, Việt Nam's steel businesses will continue to coordinate with relevant units to take action to meet the EU's Carbon Border Adjustment Mechanism (CBAM).

The association will continue to research solutions to reduce carbon emissions, ensuring progress towards a competitive and green steel production industry. To boost exports, domestic steel businesses must improve their knowledge of green and sustainable production.

In addition, management agencies need to simplify procedures for reports on data relating to CO2 emissions. 

Thousands of workers flock to Kon Tum during coffee harvesting season

Thousands of people are flocking to the Central Highlands province of Kon Tum to look for seasonal work during the coffee harvesting season. 

Pham Van Tho, 44, joined a group of 14 people to drive 150 kilometres from the central province of Quang Ngai to Kon Tum to work during the coffee harvesting season this year.

Tho brought his 11-year-old son with him and they carried various equipment and clothing to prepare for a long stay during their work.

"My wife will come here later with our small child on a bus," Tho said. "We'll stay with 14 neighbours from Quang Ngai at the house of the owner of the coffee plantation where we'll work this season.

The man said that they are farmers and have modest income from their small farmland in Quang Ngai. Therefore, they often seek extra work to earn more money.

"We've come to the Central Highlands every coffee harvest season to work as the plantation owners need more labour during this time," he said. "Thanks to this work, we can earn some money for the Tet Lunar New Year Holiday.

According to the farmers, as coffee prices are high this year, they are being paid well between VND90,000-VND100,000 for picking 100 kilos of coffee fruits.

Another man from Quang Ngai, Dinh Van Dat, 38, said that he and his wife were harvesting coffee on a 4-hectare plantation in Dak Ha Town.

"We're working from 6 am until 6 pm every day, picking between 700-800 kilos of coffee fruits every day," Dat said. "And we earn over VND800,000 a day, and can save some VND40 million during this coffee harvesting season which lasts some two months."

According to the Kon Tum Provincial Department of Labour, Invalids and Social Affairs, due to the lack of workers, coffee plantations in the province usually need some 4,000 workers during the harvest season.The central highlands region has over 600,000 hectares of coffee in 2022, accounting for 89.90 percent of the country's total coffee area. The region produced 1.77 million tonnes of coffee, second after Brazil, with export value reaching USD4 billion last year.

Real estate market forecast to turn vibrant in next two years

Savills Vietnam has forecast the domestic real estate market will be able to get back to its high-growth path in the next two years despite current economic challenges.

Speaking on November 23 at a press conference on the real estate investment landscape in 2023 and beyond, Neil MacGregor, CEO of the real estate management and consultancy company, said, “Despite economic headwinds, the robust demand for housing remains strong due to nationwide urbanization efforts, a growing population, and essential housing needs in major cities.”

He added the Government had made efforts in the past two years to cope with these issues, instilling confidence in a better future.

Vietnam’s real estate market has shown resilience, particularly in the face of delays in project approvals and a shortage of new housing supply. While the sluggish pace of project approvals has dampened market sentiment, strong demand persists due to continued urbanization, said MacGregor.

Savills Vietnam’s report also shed light on HCMC’s thriving office market, which boasts a recovery in occupancy and rent growth, making it a standout performer in the Asia-Pacific region.

The report highlighted a surge in foreign investors directing capital into Vietnamese real estate through share acquisitions. Investors from Asian countries like Singapore, South Korea, Thailand, Malaysia and Japan are actively participating, with expectations of increased investments in the coming years.

Middle Eastern investors are also seen as potential contributors to the real estate sector.

VND3.5 trillion required for Co Chien 2 Bridge linking Ben Tre and Tra Vinh

Work on the 5-km Co Chien 2 Bridge, connecting the Mekong Delta provinces of Ben Tre and Tra Vinh, is scheduled to commence in 2025, with an estimated cost of VND3.5 trillion. The project will be located 30 kilometers downstream from the existing bridge.

The director of Ben Tre’s Department of Transport shared this information on November 24 after visiting the proposed site for the Co Chien 2 Bridge, accompanied by Tra Vinh authorities.

This bridge is a crucial component of the 25-km coastal road project that spans Ben Tre, Tien Giang, and Tra Vinh provinces, forming part of the larger 740-km project stretching from Ho Chi Minh City to Ha Tien Province. Upon completion, the entire project is expected to drive regional economic development while alleviating traffic congestion on national highways 1 and 50.

The Co Chien Bridge, which connects Ben Tre and Tra Vinh, was opened to traffic in 2015, significantly reducing the travel distance between HCMC and Tra Vinh and Soc Trang by nearly 80 kilometers.

HCMC hosts startup and innovation festival

The National Innovation Startup Festival (Techfest) and the Week of HCMC Innovation, Startup, and Entrepreneurship (Whise) are simultaneously taking place in District 3, HCMC.

Starting from November 20, the week-long event has 40 activities, with participants including hundreds of leading firms and organizations from the startup community, making it the largest of its kind in the city this year.

With the theme of “Harnessing the country’s resources – Enhancing the Vietnam startup innovation ecosystem for international integration,” Techfest-Whise 2023 is expected to connect companies with financial resources, potential partners, and promising markets both domestically and globally.

Phan Van Mai, chairman of the HCMC People’s Committee, said, “HCMC strives to position itself as a prominent hub for startup innovation in Asia.” The city is committed to fostering a favorable ecosystem for startups and supporting the business community in achieving long-term growth.

Techfest-Whise 2023 includes an exhibition area with cutting-edge advancements in science and technology, designed to foster valuable connections for businesses and potential investors.

The program features one conference and 26 seminars, bringing together experts, officials, business executives and entrepreneurs to discuss the development strategy of Vietnam’s economy.

In addition, the HCMC Open Innovation Platform (H.OIP) was unveiled during the event. H.OIP is an online platform aimed to stimulate innovation activities in the city. The project is currently in its final stages of development.

Techfest-Whise 2023 is co-held by the HCMC People’s Committee, the Ministry of Science and Technology and other partners nationwide. The event highlights the joint efforts the public and private sectors to enhance innovation and entrepreneurship and facilitate the sustainable growth of Vietnam’s business community.

Vietnam’s textile exports forecast to decline this year

Vietnam’s textile and garment industry is anticipated to achieve export revenue of US$40 billion in 2023, down by 9% against the previous year, according to the Vietnam Textile and Apparel Association (VITAS).

During a conference held on November 23, VITAS attributed the export decline to persistent challenges faced by textile and garment enterprises, including a reduction in orders and weakening consumer demand.

Despite the challenging environment, the industry achieved a notable milestone in market expansion and product diversification.

Vu Duc Giang, chairman of VITAS, said that Vietnamese textile and garment products found their way to 104 countries and territories worldwide in the current year. “Never has Vietnam exported textile and garment products to as many markets as this year,” he emphasized.

The U.S. emerged as the largest importer of Vietnam’s textile and garment products, with imports exceeding US$11 billion in the January-September period. Japan followed closely with US$3 billion in imports.

South Korea and the European Union also contributed significantly, with textile and garment shipments to South Korea amounting to US$2.43 billion and revenue from EU exports reaching nearly US$2.9 billion.

Moreover, Vietnam successfully exported 36 different product types to various markets in the first three quarters of the year. Jackets remained the primary exported item, generating over US$4.8 billion in export revenue.

With expectations of further growth in the export of textile and garment products in 2024, representatives of the association proposed several solutions to boost export activities, including diversifying markets and product offerings.

Deterioration threatens Dalat-Trai Mat railway

Lam Dong Province’s authorities have raised concerns about the deteriorating conditions of the seven-km Dalat-Trai Mat railway, a vital route for tourists enjoying scenic rides. The state of disrepair poses a significant risk to traffic safety.

To address this issue and revitalize this historic railway, authorities have presented an upgrade plan for the railway to the Ministry of Transport. The objective is to ensure the safety of train operations and attract tourists to the charming city of Dalat.

The Dalat-Trai Mat railway is a part of the Thap Cham-Dalat railway route, distinguished as one of the world’s first two mountain-climbing rack railways. Construction began in 1908 and took 24 years to complete, finishing in 1932. Unfortunately, the railway had to be temporarily closed in 1968 due to wartime conditions. It wasn’t until 1991 that the Dalat-Trai Mat section resumed operations, primarily for sightseeing purposes, covering a scenic route of around seven kilometers.

Earlier this year, a company submitted a pre-feasibility study report to the Ministry of Transport, seeking approval to restore the entire Thap Chap-Dalat railway route. The project is estimated to cost VND25,000 billion and will be carried out through a public-private partnership.

The proposed 83.5-km railway route will comprise 16 stations, passing through Phan Rang City, Ninh Son District in Ninh Thuan Province, before reaching Dalat City in Lam Dong. If approved, work on the project will commence in January 2025 and conclude in June 2029, followed by a testing phase from June to December 2029.

Expansion proposed for North-South expressway section in Ninh Binh

The Thang Long project management board has been tasked with preparing an investment proposal for the expansion of the Cao Bo-Mai Son Expressway, a section of the North-South expressway located in the northern province of Ninh Binh.

The expansion aims to widen the expressway to six traffic lanes, with an estimated investment of VND2 trillion, which will be financed through increased budget revenue.

The primary route will be expanded by an additional 15.75 meters in width, resulting in a total roadbed width of 32.75 meters. This expansion plan also includes the development of four bridge structures along the expressway, namely the Cao Bo Bridge, Cam Bridge, National Highway 10 overpass, and Quan Vinh Bridge.

The proposal for expansion is set to be submitted to the relevant authorities for consideration in February of the upcoming year.

The Cao Bo-Mai Son Expressway, with a total length of 15.2 kilometers, is the shortest among the 11 sections of the North-South Expressway in the 2017-2020 phase.

Since its opening for traffic in February 2022, this expressway segment has posed safety risks due to its narrow roadbed and the absence of emergency lanes.

The Ministry of Public Security has categorized it as one of the expressways with potential safety risks, emphasizing the urgent need for investment in its expansion.

APEC Leaders’ Summit highlights cooperative power

Vietnam has proposed some solutions to drive Asia-Pacific economic cooperation across the region.

At last week’s APEC Leaders’ Week organised in San Francisco, Vietnam suggested three key cooperation priorities for APEC. Specifically, it should boost cooperation in responding to climate change and green growth.

“APEC member states need to accelerate cooperation in goods trade and environmental services, green-biological-circular economy models, smart agriculture, just energy transition, and natural resources management,” said Vietnam’s Ministry of Foreign Affairs.

In addition, APEC should take advantage of science and technology in service of inclusive and sustainable growth, it added.

“APEC cooperation must be directed to supporting member economies to build digital infrastructure and labour, accessing and applying modern technology in industrial and agricultural production, fight against natural disasters, and educational and healthcare development.”

What is more, APEC must take people as the centre of cooperation. APEC’s projects and activities need to contribute to constructing the just healthcare and educational systems, supporting small- and medium-sized enterprises in expanding markets, and increasing the role of women in the society and economy.

Covering 21 economies making up 38 per cent of the global population, half of the world’s area, 61 per cent of GDP, and 47 per cent of global trade, APEC currently is home to nine strategic partners of Vietnam, including Australia, China, Japan, South Korea; and five comprehensive partners such as the US, Canada, and Chile.

The APEC region is critical to the country’s security and development as it gathers 15 of the 30 strategic and comprehensive partners which are leading economic and trade partners of Vietnam.

Thirteen of 17 free trade agreements (FTAs) that Vietnam has signed or is negotiating are with 17 APEC members, and 17 out of 20 APEC member economies are Vietnam’s FTA partners. APEC contributes over 77 per cent of Vietnam’s trade, 81 per cent of the country’s foreign direct investment and over 85 per cent of the nation’s tourism turnover. APEC also accounts for 38 per cent of official development assistance in Vietnam.

Under APEC’s Bogor Goals, by 2020 all APEC member economies saw trade and investment liberalisation, through reduced trade barriers and the promotion of free flowing goods, services, and capital.

Funding from APEC economies into Vietnam has climbed remarkably, currently holding nearly 90 per cent of total foreign-invested projects, and $350 billion of total registered capital of $460 billion, according to the Vietnamese Ministry of Planning and Investment.

One million hectares of high-quality rice project submitted for PM’s approval

According to the Ministry of Agriculture and Rural Development, the 'One million hectares of low-emission high-quality rice in the Mekong Delta' project is being submitted for the Prime Minister's approval.

Minister of Agriculture and Rural Development Le Minh Hoan chaired a discussion with National Assembly delegations of provinces from the Mekong Delta in Hanoi about solutions to implement the project on sustainable development of 1 million hectares of high-quality rice cultivation with low emissions, associated with green growth in the Mekong Delta until 2030.

Local representatives said they are eagerly waiting to participate in this project.

At the discussion, Dr. Tran Cong Thang, Director of the Institute of Policy and Strategy for Agricultural and Rural Development, said that the Ministry of Agriculture and Rural Development was assigned by the Prime Minister to work with ministries, agencies, and localities to set up this project and then submit it to the Prime Minister for approval.

Speaking at the seminar, Mr. Phan Hoang Vu, Director of the Department of Agriculture and Rural Development of Ca Mau Province and Mr. Le Huu Toan, Deputy Director of the Department of Agriculture and Rural Development of Kien Giang Province, as well as representatives of many localities, looked forward to the Prime Minister’s approval.

Mr. Phan Hoang Vu said that the agricultural sector of Ca Mau Province was longing for the start of the long-awaited project. The local sector has reviewed the areas and conditions such as cooperatives and farming processes with the year for early approval of the project so that the locality can promote propaganda and have policies to support farmers and businesses while it is prepared for training farmers how to calculate carbon credits.

Similarly, Mr. Le Huu Toan said that Kien Giang is ready to participate in this project as farmers are aware of production linked to the environment, green growth, and emission reduction which are inevitable trends. Therefore, Ca Mau plans to reorganize production to increase farmers' income when implementing this project.

Speaking at the seminar, Minister Le Minh Hoan announced once the project is approved by the Prime Minister, it will bring fruitful results in terms of economy, environment, society and culture. This is a newer way of rice cultivation.

HCMC customs industry earns US$4.4 bln in revenue

From the beginning of the year to November 15, Ho Chi Minh City's customs industry earned VND106,768 billion (US$4.4 billion) in revenue.

The figure equaled 73.23 percent of the set target of VND145,800 billion (US$6 billion), down 12.71 percent over the same period last year.

The information was provided by the HCMC Customs Department on November 24 afternoon.

The HCMC Customs Department clarified the reason of the downturn was due to the reduction of taxed import turnover of some commodities comprising gasoline and oil of all kinds, computers, electronic products and components, iron and steel and so on.

It is estimated that budget revenue for the whole year of 2023 would reach VND121 trillion (US$5 billion), equaling 82.99 percent of the set target, reducing 15.41 percent over the same period of 2022.

At the current times, the HCMC Customs Department is implementing various solutions to facilitate trade and strengthen control and prevention of budget loss.

In particular, the department is carrying out a peak plan to fight against smuggling and trade fraud for goods with high export and import tax rates and high-value export and import goods.

Besides, the Municipal Customs Department is regularly monitoring and evaluating the implementation of daily and monthly budget collection, assessing the impacts on revenue, fluctuations in export turnover and so on to make appropriate adjustments to ensure assigned budget revenue targets.

Outstanding loans for foretry, fisheries take up 78 percent of credit package

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank Ho Chi Minh City branch, revealed that outstanding loans for forestry and fisheries in Ho Chi Minh City take up nearly 80 percent of the VND15 trillion (US$616 million) credit package.

With short-term VND loan interest rates from 4 percent-6 percent a year and foreign currency loans from 3.5 percent-5.5 percent a year, it has helped people, manufacturers and businesses in the field of forestry and fisheries sector in Ho Chi Minh City have access to cheap capital.

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank Ho Chi Minh City branch, said that in implementing the Government's direction to support, remove difficulties, and promote production and export of the forestry and fisheries industry, commercial banks in Ho Chi Minh City have so far disbursed VND474 billion of the VND15 trillion credit package. Some 196 borrowers received capital from banks for production.

Currently, outstanding loans for this sector in Ho Chi Minh City reach VND355 billion, accounting for 78.1 percent of total outstanding loans for forestry and fisheries products from this credit package. In particular, outstanding loans for exploitation and aquaculture account for the highest proportion, nearly 70 percent of total outstanding loans for the fisheries sector in the area.

Also according to the Deputy Director of the State Bank Ho Chi Minh City branch, the loan interest rate is 1 percent-2 percent per year lower than the average lending interest rate of banks, creating favorable conditions for businesses, business households and individuals in Ho Chi Minh City to reduce loan costs, get financial support and reduce production and business costs; thereby, helping them maintain and stabilize production, overcome difficulties and develop.

In particular, low lending interest rates have also encouraged business households to expand exploitation and aquaculture activities, providing raw materials for seafood processing and export activities - the driving force for growth, especially at the end of the year, when consumer demand increases.

Top 100 Vietnam Best Places to Work announced

Anphabe, the consulting firm that provides Employer Brand and Happy Workforce solutions, has announced the annual list of Top 100 Vietnam Best Places to Work for 2023. 

The rankings are based on the findings of the independent Vietnam Best Places to Work survey, which polled 63,878 experienced workers from 18 industry groups and 9,638 students from 113 universities.

The survey was conducted from April to September 2023, measuring the employer brand attractiveness of 752 companies and also evaluating the latest trends in talent, human resources and working environment in the country.

The evaluation model and methodology were verified by market research firm Intage Vietnam.

Nestlé Vietnam gained the top spot in the large enterprises category followed by Suntory PepsiCo Vietnam Beverage, Vingroup, ACECOOK Vietnam, AEON Vietnam, DHG Pharmaceutical JSC, CJ Foods Vietnam, and Military Commercial Joint Stock Bank.

PepsiCo Foods Vietnam Company topped the medium enterprises category, followed by JOLLIBEE Vietnam, Generali Vietnam Life Insurance, BMB STEEL, JABIL Vietnam, McDonald’s Vietnam, IMEXPHARM Corporation, and ADP Group.

In the category of Top 50 Best Employer of Choice by Vietnam Students, the winners were Nestlé Vietnam (third consecutive year), PepsiCo Foods Vietnam Company (third consecutive year), AEON Vietnam (second consecutive year), ACECOOK Vietnam (third consecutive year), and Honda Vietnam (third consecutive year).

The annual workplace environment ranking, done by Anphabe and endorsed by the Vietnam Chamber of Commerce and Industry, is now in its tenth year.

PM chairs consultation conference on master plan for southeastern region

Prime Minister Pham Minh Chinh chaired the 2nd conference of the Coordinating Council for the Southeastern Region in Ho Chi Minh City on November 26 to consult about the Master Plan of the region for the 2021-2030 period, with a vision to 2050.

PM Chinh, who is also chairman of the council, said in his opening speech that following the 13th National Party Congress, the National Assembly and the Government have issued resolutions to realise the Politburo’s resolutions on socio-economic development for regions, including the southeastern region.

So far, the drafting, appraisal and approval of 107 out of 111 master plans in the national planning system have been completed. Therefore, the building and perfection of the master plan for the southeastern region have advantages, the government leader said.

He requested that the master plan for the southeastern region should take into account leveraging human and natural resources, culture, history, and external resources such as finance, technology, and management to fully and sustainably develop the southeast into a dynamic and growth-driving region of the country.

The PM asked delegates to discuss development perspectives and directions for the region, delving deeper into the solutions mentioned in the regional master plan which will be submitted to the council for consideration before being presented to the PM for final approval.

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