Vietnam ran a surplus of 7.25 billion USD in agro-forestry-fishery trade in January-September.

Vietnam ran a surplus of 7.25 billion USD in agro-forestry-fishery trade in January-September, 15.7 percent higher than the same period last year, the latest updates of the Ministry of Agriculture and Rural Development showed.

Agro-forestry-fishery exports totaled nearly 30.05 billion USD in the first nine months of this year, representing a rise of 1.6 percent over the same period last year while the country imported farming products worth 22.8 billion USD, a fall of 2.2 percent.

The US remained the largest export market of Vietnamese agro-forestry-fishery products with a revenue of more than 7.5 billion USD in January-August, a year-on-year increase of 19.3 percent.

China came second with revenue of 7.24 billion USD, a drop of 7.7 percent.

Agro-forestry-fishery exports to the ASEAN market expanded 4.6 percent to reach 2.93 billion USD, up 4.6 percent, while the export value to the EU reached around 2.83 billion USD, down 0.6 percent.

In September alone, export revenue inched up 3.8 percent month-on-month to hit 3.8 billion USD, marking the highest level over the past nine months.

The ministry warned of various difficulties facing the sector in the time ahead, especially given new developments of COVID-19, and suggested greater efforts to mitigate natural disasters and promote production, animal and plant disease control and trade./.

Vietnamese economy sees bright prospects

With more positive developments in the world economy and the rapid recovery of China, the Vietnamese economy has foundations to hope for a strong economic recovery in the future, according to Duong Manh Hung, Director of the General Statistic Office (GSO)’s National Accounts Department.

Hung made the remark in response to a report recently released by the S&P Global Ratings saying that Vietnam is likely to be the second best performer in terms of economic recovery in the Asia-Pacific region.

According to him, the recovery of the world economy increases the demand for goods, thereby promoting recovery and development of export turnover, especially of products of Vietnamese strength such as farm produce, textiles, footwear, and electronic components.

In addition, the EU-Vietnam Free Trade Agreement (EVFTA) has come into effect and is being actively implemented by agencies at all levels, sectors and localities. The General Department of Vietnam Customs has also issued a document instructing enterprises how to declare goods eligible for reduced tariffs under the EVFTA, helping to restore exports to Europe, which is a major traditional market of Vietnam. In particular, the rapid recovery of the Chinese economy is also a good signal for the Vietnamese economy as it is a large export and import market of the Southeast Asian country.

Agriculture is considered the "pillar" of the Vietnamese economy in 2020 because weather is favourable for cultivation and many fruit trees see bumper crops, Hung said, adding that rice prices and consumption markets for some agricultural products are stable.

The manufacturing industry in September increased sharply and is expected to continue growing in the fourth quarter, Hung stated.

At the same time, Vietnam has gone through four weeks without any new COVID-19 community infections, making market service activities recover and tend to grow again, he noted.

Vietnam is also considering the reopening of international and domestic air routes with measures to be put in place to ensure safety. It is expected that the transport, tourism, hotel, restaurant, entertainment industries will grow sharply at the end of the year.

“With these positive signs, it is forecast that Vietnam’s economy will grow strongly in the near future,” Hung said./.

Thailand: Over 500,000 tourism workers lose jobs

The Tourism Council of Thailand (TCT) said about 10 percent of businesses in the country’s tourism industry have closed with almost 540,000 workers laid-off due to the economic impact of the COVID-19 pandemic.

The Bangkok Post quoted the council’s president Chairat Trirattanajarasporn as saying that tourism operators in the southern and central region seem to be the most affected as they heavily rely on foreigners.

Other business sectors that took a hit include entertainment venues forced to close during the lockdown, hotels and theme parks.

Chairat said 400,000 tourism workers lost their jobs during the third quarter of the year as three per cent of companies shut down and seven percent temporarily closed.

Although 88 percent of companies continue to operate, 13 percent reduced employee headcount by 30 percent, causing 137,280 to lose their jobs.

He said that the by year-end, the number of unemployed will rise to more than one million if the government cannot implement effective aid measures and allow more international tourists into the country.

The number of tourists will depend on the reopening plan from the government, but the limited number of 1,200 tourists per month is inadequate to help the tourism industry recover, according to him.

TCT estimates that Thailand will only welcome 6.74 million international tourists this year, down 83.1 percent compared to last year, with an estimated revenue of 337 billion THB, a dip of 82.6 percent./.

Asia Times: Vietnam an outlier during COVID-19 pandemic

Asia Times on October 1 ran an article saying that the Vietnamese economy will soon recover after COVID-19 pandemic and become one of the best performers in the world.

“Like its neighboring countries, Vietnam’s economy has been struggling after months of fighting against the pandemic. It is nonetheless still an outlier given its effective response to the COVID-19 outbreak, with impressive growth. Therefore, its economy is expected to witness positive signals soon after the pandemic is brought under control, which is highly unlikely for those countries that are seriously plagued by COVID-19,” according to the article.

It cited the data as showing that Vietnam’s GDP growth in the second quarter of 2020 was about 0.4 percent year on year. Although this was the economy’s worst performance in 35 years, it was exceptional compared with its neighbors, some suffering from negative growth.

The World Bank forecasts that Vietnam’s GDP growth could reach 2.8 percent in 2020 and will recover to 6.7 percent next year, while S&P Global Ratings expects that Vietnam will be the second-best performer among Asian economies this year.

The article noted all this indicates that the country is well able to bounce back soon from the crisis. Thus Vietnam should re-emerge quickly in the post-pandemic period, making it one of the best performers in the global economy, as it has been over the past decade.

“Thanks to its stringent lockdown measures to contain COVID-19’s spread months, Vietnam is now gradually becoming one of the most attractive destinations for foreign investment,” it said.

As noted previously, its efficiency in getting the pandemic under control has turned it into a safe place for international firms to do business during and after the COVID-19 crisis. According to a study released by Hong Kong’s Deep Knowledge Group, Vietnam is the ninth-safest place in the Asia-Pacific region amid the pandemic. Also noteworthy, according to a report by Goldman Sachs, for many US firms “when asked about top locations for moving out of mainland China, Vietnam and India are the most mentioned destinations.”

During the COVID-19 crisis, while many countries have been suffering from economic sclerosis, Vietnam’s economy has continued to take firm steps toward international economic integration.

Notably, on June 8, Vietnam ratified a free-trade agreement with the European Union (EVFTA), which took effect from August 1. As well, it has been working closely with other members of the Regional Comprehensive Economic Partnership (RCEP) with the hope of signing this FTA before 2021.

All of these achievements could be considered exceptional under the current situation, which is inimical to global economic activities, and Vietnam is expected to gain enormously from these FTAs.

“As long as it can maintain the current momentum, Vietnam will be a rising star in the global and regional economy, paving the way to becoming a high-income country in 2045 as it is aiming to do,” according to the article./.

Hanoi works to promote its image as creative city

The “Hanoi – creative city” initiative was discussed at a seminar jointly held by the municipal People’s Committee and UNESCO on October 2.

In his remarks, Secretary of the Hanoi Party Committee Vuong Dinh Hue said to implement its commitments to UNESCO, Hanoi will put forth long-term programmes and plans of action, and facilitate the creative design sector.

Michael Croft, UNESCO Chief Representative in Vietnam, suggested Hanoi expand its cooperation with other cities like Seoul (the Republic of Korea), Singapore, Kobe (Japan), Shanghai (China), Bandung (Indonesia), Helsinki (Finland), Montreal (Canada), Berlin (Germany) and Turino (Italy).

However, local strength plays the most important role, he said, highlighting the significance of cooperation between the community, the government, universities, the private sector, friends and international partners in materialising Hanoi’s development strategy.

Delegates at the seminar focused their discussion on solutions regarding urban recreation and development with culture as the core, creative education with priority given to arts and science, and the promotion of Hanoi’s image.

Hanoi was designated as part of the UNESCO Creative Cities Network on October 30, 2019, according to the municipal Department of Culture and Sports.

The Vietnamese capital became a new member of the network in the field of design, the department said, noting that although Hanoi is strong at many fields of creativity, it decided to apply for the status in terms of design since this area has wide coverage, is closely linked with other fields, and can reflect the city’s potential and strength in bringing into play its creativity.

Besides, it has also met the standards for a creative city of design, including a developed design industry, multiple opportunities for creating designs from natural materials and conditions, and the presence of design groups with frequent activities.

The municipal department said joining the UNESCO network is the first but significant step for Hanoi to raise its standing and create a new and more attractive image of the city./.

Credit growth up 6.09 percent: central bank

The State Bank of Vietnam (SBV) said on October 2 that as of September 30, credit had expanded 6.09 percent as compared with the end of 2019.

The highest pace was recorded in services, at 6.32 percent, followed by construction (5.89 percent), and agro-forestry-fishery (5.09 percent), according to the central bank.

Credit has given a boost to a number of industries that are serving as the driving force of the national economy like the production and distribution of electricity, gas, hot water and air conditioners; water supply, waste and waste water management and treatment; construction; wholesale and retail; and the maintenance of cars, motorbikes and other motor vehicles.

Amidst economic difficulties, the SBV has pledged to fully meet the capital needs of the economy and create the most favourable liquidity for commercial banks to reduce interest rates in support of their clients.

Speaking at a press conference of the Government in Hanoi on October 2, SBV Deputy Governor Dao Minh Tu said credit growth would reach 8-10 percent this year if the COVID-19 pandemic is well controlled and export and production bounce back./.

Vietnam, Algeria boost online trade amid COVID-19

Vietnam took part in the first online exhibition on trade, marketing, and national products in Algeria recently, as an honorary guest.

The Vietnamese representatives included the Vietnam Trade Office in Algeria and four companies operating in farm produce, food, beverages and healthcare in the country.

The expo was co-organised by the Andalus Trade, Show, Exhibits and Events (TSEE) company and the Algeria Press Service.

The TSEE said a virtual international exhibition on food and beverages is scheduled for November 1-16 in Algeria. Companies from seven countries have lined up to attend, including those from Germany, Turkey, Jordan, and Vietnam.

Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan said the Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency (VIETRADE) also coordinated with Vietnam trade offices abroad and the US Agency for International Development (USAID) to hold an online international trade conference on Vietnamese food and farm produce from September 22-25, which attracted over 150 importers from 28 countries and territories worldwide, including 10 Algerian firms.

From July to September, MoIT’s Department of Asian-African Markets and VIETRADE, in cooperation with Vietnam trade offices overseas, held two online seminars in Hanoi and HCM City introducing Vietnam’s export-import potential to companies in Africa and the Middle East, with hundreds of Vietnamese enterprises participating.

According to the General Department of Vietnam Customs, two-way trade between Vietnam and Algeria hit nearly 120 million USD in the first eight months of this year, down 11 percent year-on-year. Vietnam’s exports to the African country were mostly coffee, pepper, aquatic products, metals, and chemicals, while it imported paper, pharmaceuticals, and animal feed./.

Thailand’s rubber product exports predicted to rise in 2020

Thailand's rubber product exports are expected to fetch 359 billion baht (11.35 billion USD) in 2020, 3.19 percent higher than last year, according to Thai Commerce Minister Jurin Laksanawisit.

Speaking after a meeting on October 1 with the International Trade Promotion Department, Rubber Authority of Thailand and rubber cooperatives, Jurin said Thailand is likely to see higher shipments of rubber because of rising demand for rubber gloves and auto tyres, as well as the government's proactive approach to promote rubber exports.

Meanwhile, the country’s natural rubber shipments are expected to drop by 5 percent to 122 billion baht by year-end.

Jurin said global demand for rubber gloves and auto tyres keeps rising significantly because of the global economic recovery after lockdown measures to curb the COVID-19 pandemic are being relaxed.

In the first eight months of 2020, shipments of rubber products rose 2.32 percent year-on-year to 235 billion baht, while natural rubber exports decreased by 28.7 percent to 65.7 billion baht.

Thailand is the world's largest producer of natural rubber, making 4.8 million tonnes last year, with exports accounting for almost 4 million tonnes.

In 2019, Thailand raked in 11.2 billion USD from exporting rubber products and processed rubber./.

Canada affirms strong trade ties with Vietnam

A comprehensive trade agreement between Canada and ASEAN will help Vietnam fully tap opportunities offered by free trade agreements and promote the positive impacts of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in areas of common interests, a Canadian official has said.

Kendal Hembroff, General Director for Trade Policy and Negotiations at the Global Affairs Canada (GAC), made the statement at a webinar hosted by the Canada-Vietnam Trade Council on October 1.

She highlighted strong trade ties between Canada and Vietnam, saying that these relations were built on the foundation of good people-to-people exchanges.

Vietnam is currently Canada's largest trading partner in the Association of Southeast Asian Nations (ASEAN), with a two-way trade hitting 7.98 billion CAD (6.01 billion USD) in 2019. 

After one year of implementing the CPTPP, Vietnam's export turnover to Canada increased by 29.7 percent, while Canada's export value to Vietnam also rose strongly, especially for meat and for cereal which recorded 230.7 and 61.2 percent growth.

Addressing the event, Vietnamese Ambassador to Canada Pham Cao Phong spotlighted the fact that while the world’s trade flows decreased sharply in the first six months of 2020, Vietnam-Canada trade still kept its upward trend though it grew just by 0.1 percent.

Vietnam is now in the top 10 importers of seafood from Canada, he said, with its advantage as a FTA “hub” in the Asia-Pacific, Vietnam will serve as a bridge to help Canadian goods and services access the 660 million-strong ASEAN market, as well as to other important markets in the region.

In return, Canada may be a gateway for Vietnamese products to penetrate other markets in America, Phong said.

Julie Nguyen, Director of the Canada-Vietnam Trade Council, said economic cooperation is becoming an issue of great concern of the two countries, especially when relevant parties are exploring the possibility of signing a Canada-ASEAN free trade agreement, and Vietnam is successfully taking over its role as ASEAN Chairman this year.

Canada along with four ASEAN countries, including Vietnam, Singapore, Malaysia and Brunei, are members of the CPTPP. The North American country and the bloc are implementing the Plan of Action within the Canada-ASEAN Joint Declaration on Trade and Investment.

In the context of Canada-ASEAN growing trade ties, Canadian experts said that it is necessary to establish a structure to facilitate growth and adapt to new trends and challenges in international trade and investment.

The Canada-ASEAN FTA is expected to lay a solid foundation for promoting commitments and cooperation between the two sides./.

HCM City strives to become regional healthcare hub

A HCM City-US Healthcare Dialogue titled “Realising Vision for HCM City as a Regional Healthcare Hub” was held in the southern city on October 1.

The event offered a chance for leaders of the health sector of Vietnam and HCM City and businesses of both countries to discuss solutions to boost healthcare cooperation between HCM City and the US in order to meet demand of people in Vietnam and ASEAN.

In his opening speech, Chairman of the municipal People’s Committee Nguyen Thanh Phong recalled important milestones in Vietnam-US relations. He attributed the development of the bilateral ties to tenacious and ceaseless efforts by leaders and people of the two nations across all fields, in which healthcare cooperation has played a significant part.

Vietnam and the US marked the first healthcare cooperation activity with a programme designed to aid people with disabilities launched 30 years ago to overcome war consequences, he noted.

At present, the bilateral medical collaboration has expanded to other spheres, including HIV/AIDS, tuberculosis and seasonal influenza prevention and control, healthcare for military personnel, response to African swine flu outbreaks, and most recently in battling the COVID-19 pandemic.

HCM City aims to set up a high-tech healthcare centre in the coming time in tandem with medical tourism development to attract more tourists to the city, he said.

It will also strive to turn traditional medicine into a highlight of the city’s medical tourism and the pharmaceutical industry into a spearhead economic sector, as well as ensure sufficient supply of medicine and vaccines, Phong added.

Joining the virtual dialogue, US Ambassador to Vietnam Daniel Kritenbrink spoke highly of Vietnam’s efforts in promoting healthcare development in recent years and curbing the spread of COVID-19.

He affirmed that the fight against the ravaging pandemic is an outstanding milestone, marking joint efforts in mutual support and learning each other between the US and Vietnam during the past 25 years.

US businesses and the American Chamber of Commerce in Vietnam (AMCHAM Vietnam) have paid heed to supporting Vietnam in the field of healthcare, the diplomat said.

At the dialogue, US companies voiced their hope to continue joining hands with medical schools and facilities in the city.

The event also witnessed the launch of the AmCham Vietnam’s 2020 Healthcare White Book, highlighting innovative products and services US healthcare companies offer in Vietnam, policy recommendations to promote the health and wellness of Vietnam’s population and support the growing strength of Vietnam’s healthcare industry.

Vibrant atmosphere return to northern tourism sites

Hotels and other lodging facilities near the special national heritage Mu Cang Chai Terraced Field in the northern province of Yen Bai has been packed with holiday-makers those days as the COVID-19 pandemic has been brought under control.

According to Secretary of Mu Cang Chai district’s Party Committee Nong Viet Yen, a large number of domestic and foreign tourists have flocked to the locality to experience local ripen rice season.

The district built a plan to organise the Mu Cang Chai terraced field festival with a wide range of activities featuring cultural identities of local ethnics, he added.

Particularly, the new highlights of this year’s festival are the Discover Mu Cang Chai marathon with the participation of 100 athletes, a helicopter cruise to experience the landscape from above, a camping festival and the district's four-season outdoor spectacle.

Besides, the paragliding festival “flying over the ripe rice season”, and traditional contests also excited festival goers.

Meanwhile, a tourism promotion campaign named “I love Sa Pa” kicked off in Sa Pa town, Lao Cai province on September 30 with an array of cultural, art and sport activities and promotional progammes to lure more tourists to the locality.

Sa Pa town, bestowed with stunning natural landscapes together with outstanding culture, has been a safe destination since the second wave of COVID-19 outbreak hit Vietnam in July.

The number of tourists to Lao Cai province fell 67 percent year on year to 1.3 million during January-September, making revenue gained from tourism services decrease 70 percent to over 4.7 trillion VND (202.2 million USD).

If the tourism promotion activities show efficiency, the province can greet 2.5 million visitors and gain over 11 trillion VND in 2020./.

Eight businesses awarded for treatment of employees

Eight enterprises were awarded certificates of merit from the Prime Minister for their treatment of employees during a ceremony in Hanoi on October 2.

Organised by the Vietnam General Confederation of Labour (VGCL) in collaboration with the Ministry of Labour, Invalids and Social Affairs (MoLISA) and the Vietnam Chamber of Commerce and Industry (VCCI), the awards aimed to celebrate firms which have treated their staff well in Vietnam.

Nguyen Van Binh, Chairman of the Party Central Committee’s Economic Commission, said employees are the most valuable asset of the enterprises and building harmonious and stable labour relations reflect good employers.

He added motivating and encouraging enterprises to take care of their workers' lives, improve their working environment, building harmonious and beneficial relationships between enterprises will help Vietnam achieve sustainable development in the process of integration and development.

Binh said these efforts contributed to help Vietnam achieve positive growth.

According to VGCL, it was the second time the awards have been announced after the first time in 2016, and thousands of firms have been participating in the "enterprises for employees" movement, in which incomes have improved, especially those with salaries of more than 20 million VND (860 USD) per month, while the number of employees with a monthly salary below 6 million VND has decreased.

VGCL Chairman Nguyen Dinh Khang said bonus policies and better welfare offered by the firms had been motivating employees.

Eight firms awarded the PM’s certificates of merit included: Electromechanical and Explosive One Member Limited Company 31 or Factory Z131, Bim Son Garment, Samsung Electronics Thai Nguyen, Hyundai KEFICO, Vietcombank, Manufacturing Sportswear Joint Stock Company (MXP JSC), Traphaco Joint Stock Company and Vingroup./.

More Italian firms invest in Vietnamese textile industry

More and more Italian textile firms are investing in Vietnam to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and export to the European market, experts said.

Deputy Minister of Industry and Trade Hoang Quoc Vuong said the EVFTA has opened up many opportunities for the two countries’ businesses, including small and medium-sized enterprises.

According to the General Department of Vietnam Customs, trade with Italy was worth 5.3 billion USD last year, up 13.71 percent year-on-year, as exports jumped by 18.46 percent to 3.44 billion USD.

The EVFTA, effective from August this year, is expected to help Vietnam’s textile and garment industry increase exports to the EU by 67 percent by 2025, according to the Ministry of Industry and Trade.

Textile, garment and footwear will be among the industries benefiting the most with their exports increasing by 13.49 billion euros (15.23 billion USD) by 2035.

The EVFTA promises apparel export potential of more than 100 billion USD annually.

But to enjoy preferential tariffs, besides meeting strict quality criteria, Vietnamese businesses must also strictly comply with origin requirements. The rules of origin apply from fabric onwards, meaning exports to the EU must use fabric produced in Vietnam, the EU or countries that have FTAs with both.

This is still a weak point for the Vietnamese textile and garment industry because most of its raw materials are imported from countries that have not signed trade deals with the EU./.

Data sharing and security top concern for banks: experts

Big data is a vital issue for banks in the digital transformation process, with data sharing and security top concerns, experts have said.

The experts were speaking at a conference on intelligent data management in banking and finance, held by the Banking Strategy Institute and the Banking Academy this week.

Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh said the banking sector had been proactive in accessing research, building policies and facilitating the application of data in management and developing products and services over the past time, which created a driving force for digital transformation in the banking sector.

An SBV survey last month showed that half of local banks have built a centralised data warehouse.

About 50 percent of banks have applied data analysis to optimise operating processes, increasing operational efficiency and managing risks.

Although commercial banks in Vietnam have recognised data management as a basis for innovative activities, some surveys showed that nearly half of the banks had no action plan on data management.

Data cleaning had gone unnoticed from the data makers, said chief economist of the Bank for Investment and Development of Vietnam (BIDV) Can Van Luc.

Banking data was still largely dispersed, the amount of junk information was quite large and data quality was still low, he said.

The same situation also happened for other financial companies and the construction of new data warehouses was at the beginning stage without the connection of different data sources, he added.

Banks in Vietnam are quite open in sharing data with fintech and many other service providers such as electricity, water and telecommunications through application programming interface (API) portals.

However, leaders of many joint-stock commercial banks said sharing data with banks was still quite risky because there is no legal corridor related to this issue.

Le Anh Dung, Deputy Director of the SBV’s Payment Department, said he expected the Ministry of Information and Communications would soon submit to the Government a decree on electronic identification, and the Ministry of Public Security would soon complete the development of a decree to protect personal data so that banks had a facility to exploit and protect data.

Dung also suggested the Government study, consider and enforce the law on user data protection and the law on user data privacy protection to create a clear and synchronous legal framework for data management for the whole economy.

Agreeing, Luc proposed developing appropriate management policies and mechanisms to promote data management and analysis.

The Government and businesses must see data as a precious resource, which needs a safe and effective management and exploitation process, and speed up the building of national databases, he noted./.

Indonesia adopts state budget bill into law

The Government and House of Representatives of Indonesia passed the 2021 state budget bill into law on October 1, aiming at accelerating economic recovery amid the COVID-19 pandemic and pushing for structural reforms to boost competitiveness.

Indonesian Finance Minister Sri Mulyani Indrawati said the 2021 State Budget Law targets Indonesia’s economic growth to rebound to 5 percent next year. This will follow an expected economic contraction of 0.6 to 1.7 percent this year.

Economic growth in 2021 will be driven by gradual recovery in domestic consumption and government spending to maintain people’s purchasing power amid the new normal, she said, adding that investment will grow next year because of the base effect and an increase in development programmes, while exports and imports will rise in line with global economic recovery.

On that basis, the State budget deficit is expected to reach 1 quadrillion Rp (61.55 billion USD), or 5.7 percent of the gross domestic product (GDP), lower than the estimated 6.34 percent of GDP this year as the government will slightly cut its spending while at the same time slightly increasing revenue from taxes.

The Government will continue with spending in priority sectors, including infrastructure, tourism development, food resiliency and information and communication technology (ICT), among others. It is also planning to spend 373.2 trillion Rp on debt interest payment next year, or more than 10 percent of the government’s budget./.

Work begins on 345-million-USD wind farm in Bac Lieu

The Kosy Group, which operates in the field of urban development and renewable energy, on October 3 kicked off the first-phase construction of a 8-trillion-VND (345.15 million USD) wind farm in the Mekong Delta province of Bac Lieu.

Spanning 14 ha in the communes of Vinh Thinh, Vinh My A, and Vinh Hau, the Kosy Bac Lieu wind power plant consists of 45 turbines with a combined capacity of over 200 MW.

In the first of the three-phase project, nine turbines, whose total capacity reaches 40 MW, will be built at a cost of more than 1.5 trillion VND.

According to the group’s CEO Nguyen Viet Cuong, the first-phase plant will be put into operation before October 30, 2021, capable of generating 115 million kWh of power per year on average. It is expected to rake in annual revenue of about 270 billion VND, contribute dozens of billions of VND to the local budget, and create hundreds of jobs.

Speaking at the ceremony, Chairman of the provincial People’s Committee Duong Thanh Trung said the project is in line with Vietnam’s Master Power Development Plan VII as well as Bac Lieu’s power plan and socio-economic growth orientations.

The official pledged to create the best conditions possible for the investor to effectively carry out the project./.

Indonesia disburses 44 percent of economic recovery budget

The Indonesian government has disbursed 304.6 trillion Rp (20.5 billion USD), or 43.8 percent of the 695 trillion Rp national economic recovery (PEN) budget, with social safety net spending accelerating but healthcare spending still lagging.

PEN committee head Budi Gunadi Sadikin said the government had spent 150.8 trillion Rp, or 74 percent of the social safety net budget, in the hope of softening the demand shocks caused by the COVID-19 pandemic and helping people stay afloat amid the economic downturn.

For health care, the government has spent 21.79 trillion Rp, or around 25 percent of the allocation in the COVID-19 relief package, mainly on incentives for medical workers, death compensation, COVID-19 handling in hospitals and healthcare facilities, as well as the National Health Insurance (JKN) and tax incentives in the healthcare sector.

According to Indonesian Deputy Finance Minister Suahasil Nazara, the government is still prioritising the disbursement of COVID-19 relief package, while a funding for the COVID-19 vaccine is available.

Indonesian economists said that the coronavirus relief package disbursement was relatively low despite its big impact, adding that it should have reached around 70 percent by September.

The government’s fear of mistargeting the relief package and thus getting criminalised or politicised was the bigger obstacle in getting the assistance to the people, they noted./.

Masan MEATLife opens 77.6m USD meat processing complex

Masan MEATLife, a subsidiary of Masan Group, commissioned the 1.8 trillion VND (77.6 million USD) MEATDeli Saigon Meat Processing Complex in the Mekong delta province of Long An on October 3.

It also announced it would enter the poultry meat market by buying a 51 percent stake in 3F VIET Joint Stock Company, a leading player in the industry, for 613 billion VND.

The factory inauguration was attended by Deputy Prime Minister Truong Hoa Binh and Minister of Agriculture and Rural Development Nguyen Xuan Cuong, among others.

Masan MEATLife CEO Pham Trung Lam said the inauguration of MEATDeli Saigon Complex and entering the poultry meat market through investment in 3F VIET are a part of his company’s vision to transform into a pure FMCG company.

“With the completion of these strategic milestones, we expect to bring breakthrough value to consumers in a much more scalable fashion and develop power brands. Our mission is to supply fresh, safe, affordable, and traceable meat products to each and every Vietnamese consumer,” he said.

Situated in the Tan Duc Industrial Park in Duc Hoa district, the plant is designed to process 1.4 million pigs a year.

In Phase 1, it will supply 140,000 tonnes of chilled meat and 15,000 tonnes of processed meat such as ham, sausage, pork floss, and others annually.

In Phase 2, it will expand the processed meat output to 25,000 tonnes, and introduce new products such as blood powder, blood plasma, collagen, and bone and meat powder.

Its processing line was supplied by Dutch company Marel, the world leader in meat processing equipment, and includes an automation system with three robots.

The plant meets the BRC (British Retail Consortium) Global Standard for Food Safety, has HACCP certification for food safety, and is directly operated, supervised and tested by experienced European experts.

Da Nang welcomes first group of tourists after over two months

The Department of Tourism in central Da Nang city held a ceremony on October 4 to welcome the first group of domestic tourists after more than two months all tourism activities in the city were suspended to help fight the COVID-19 pandemic.

The 55-strong group was flown to Da Nang from Hanoi. They had a plan to travel to Da Nang in August, but had to delay due to the reoccurrence of the pandemic.

Deputy director of the Da Nang Tourism Promotion Centre Mai Thi Thanh Hai said that welcoming tourists to Da Nang in early October is of significance to the central city.

The city is ready to serve tourists with a commitment to ensuring safety for them, and destinations have been upgraded with new and better products, she added.

At present, 447 hotels resume their operations and 11 out of the 16 tourist sites reopen doors to visitors./.

Vietnam, Germany look to boost economic cooperation

A workshop to promote economic cooperation between Vietnam and Germany took place in Hanoi on October 3, bringing together representatives from around 200 enterprises of the two nations.

The event was jointly held by radio The Voice of Vietnam (VOV), the Vietnam Association of Small and Medium Enterprises (VINASME), and Huong Sen Group in the framework of the Vietnam – Germany Culture Festival 2020.

It is a particularly important event in the context that the European Union – Vietnam Free Trade Agreement (EVFTA) came into effect from August 2020 and the two sides’ enterprises are fighting to overcome difficulties caused by the COVID-19 pandemic.

Participants said that 2020 is very difficult year as the whole world is struggling to respond to the crisis caused by the COVID-19. However, the EVFTA will be a springboard for economic, trade and investment cooperation between Vietnam and Germany in the coming time.

Vietnam’s becoming the ASEAN Chair 2020 and a non-permanent member of the UN Security Council for 2020-2021, and Germany’s role as the rotary head of the EU for the second half of 2020 offer the two countries opportunities to further expand their cooperation, bringing practical interests to Vietnamese and German businesses, they noted.

A seminar on promoting practical partnership between the two nations for mutual development was arranged as part of the workshop, during which issues related to opportunities and challenges of Vietnamese and German businesses amid the COVID-pandemic and those brought by the EVFTA, as well as prospects for economic cooperation among EVFTA member countries in general and the Germany- Vietnam partnership in particular were put on the table.

Currently, Germany is home to over 8,000 Vietnamese enterprises, and there are more than 300 German enterprises operating in many fields such as mechanics, machine manufacturing, and logistics in Vietnam./.

Quang Ngai farmers go organic

Farmers in central Quang Ngai province have come up with many ideas to protect their vegetable gardens from insects without using pesticides.

These measures are much cheaper, more eco-friendly and healthy for farmers.

Duc Loi Commune in Mo Duc district supplies a large amount of vegetable for the province and surrounding localities.

In the past few years, many farmers have moved to organic farming due to the increasing demand for organic produce.

However, the use of probiotics to replace pesticides is quite costly, leading to expensive vegetable.

To deal with the issue, some farmers in the commune have started producing their own insecticides to protect their vegetables.

Pham Thi Dung, a farmer in An Mo village in Duc Loi commune, has a 1,000 square-metre vegetable garden. She said she didn’t use pesticides in her garden as she has another way of protecting her crops by letting the cosmos flower do the job.

“Insects are attracted to the cosmos flowers, so I plant them next to the vegetables to protect my crops,” she said.

Other flowers, such as cockscomb or midday flower are also planted in the garden. The flowers can help reduce 70 percent of the amount of probiotics she had previously used for her garden.

Dung now harvests more than a tonne of vegetables monthly, bringing her more than 8 million VND (346 USD) every month.

Le Thi Thu Lan, another farmer in the village, applies the same method to her small vegetable garden on the area of 250 square metres.

Farmers have also produced homemade insecticides to target insects.

Le Van Tuyen, director of Duc Loi commune’s Vegetable Cooperative, said he mixed probiotics with pineapple juice and water as a substance to protect his cucumber, luffa and bitter melon crops.

Tuyen poured the substance into plastic bottles and hung them on vines to attract insects.

“We all feel secure when we use eco-friendly methods for our garden. Our living environment, our health as well as consumers’ health are all protected,” he said.

Farmer Huynh Tien Dung has another recipe. He soaks garlic, ginger and chilli in alcohol to get the extract and sprays it on his vegetable garden.

He also designs a sticky trap and hangs it on the vines to trap insects.

This method, together with weeding, digging soil and picking up worms on leaves, has saved him a lot of money and protected his crops.

Tuyen said each farmer could earn about 7 million each 360 square metres per month, giving them a stable income.

The communal People’s Committee said it would help find buyers for organic vegetables and provide seedlings and fertiliser to encourage local farmers to expand./.

Cambodia’s banana exports surge thanks to increasing demand from China

Cambodia exported more than 235,000 tonnes of fresh yellow bananas in the first nine months of 2020, up 225 percent year on year, according to a report by the country's Ministry of Agriculture, Forestry and Fisheries.

Ngin Chhay, director-general of the ministry’s General Directorate of Agriculture, said that shipments of the bananas have seen a substantial increase since China acknowledged that they hold up to its phytosanitary standards.

The volume of yellow banana exports will continue to increase in the future as orders from China pile up and more companies expand their cultivation areas, Chhay added.

Yellow bananas are a prime product for export because they are durable and don’t ripen quickly. One hectare, which can be harvested three times over two years, can produce 60-73 tonnes of bananas per year.

The ministry reported that Cambodia exported 157,812 tonnes of yellow bananas last year, most to China and the rest to Vietnam and Japan./.

Cambodia: Revenue of tickets to Angkor Wat sees 75 pct drop

Cambodia earned 18.45 million USD in revenue from the sale of tickets at Angkor Archaeological Park in the first nine months of 2020, a 75 percent decrease year-on-year due to impact of the COVID-19 pandemic, according to the Angkor Enterprise.

The number of tickets sold at the park saw a 76.17 percent drop in the period, with just over 396,241 foreign tourists buying passes, Angkor Enterprises said.

In September alone, the sale of tickets at Angkor Wat was only 124,296 USD with 2,958 foreign tourists, a fall of about 97.45 percent compared to the same period last year.

Besides the sale of tickets to Angkor Archaeological Park, Angkor Enterprise also gained 89,140 USD of ticket sales from foreign tourists who visit Koh Ker Temple, which is a 10th century temple complex in the north Cambodian jungle.

To attract more visitors to Siem Reap province, the draft of the Siem Reap tourism development master plan for 2020-2035 will be finalised this month and submitted to the Council of Ministers for approval.

The master plan is expected to be the key mechanism to reply to the current and future economic situation, notably the impact caused by the Covid-19 pandemic./.

Source: VNA/VNN/VNS/VIR/VOV/SGT/NDO/Dtinews