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Recommendations made to improve HCMC’s Cat Lai Port
Business

Recommendations made to improve HCMC’s Cat Lai Port

The Trade Facilitation Program in Vietnam, funded by the United States Agency for International Development (USAID), has made a number of recommendations on reducing congestion and facilitating logistics at Cat Lai Port in Ho Chi Minh City. Leveraging IT solutions, expanding infrastructure, and improving operational performance count among the most notable.
Business

Textiles & garments aiming to complete ‘greening’ by 2030

Vietnam’s textiles and garment sector is a traditional outsourcing industry using a lot of labor and natural resources, making its transition to green production a major challenge. The Vietnam Textile and Apparel Association has set a target of reducing energy consumption by 15 per cent and water consumption by 20 per cent by 2023 and completing the “greening” of the sector by 2030.
Business

PM meets with Warburg Pincus CEO

On May 15, at a meeting with Mr. Charles Kaye, CEO of Warburg Pincus, Prime Minister Pham Minh Chinh, who is in the US on a working visit, affirmed that the Vietnamese Government has introduced favorable conditions for foreign investors to do business effectively, and suggested that the company continue to expand its investment in the country. Vietnam is Warburg Pincus’s third-largest investment destination in Asia, following China and India.
Covid-19 still affecting beverage industry

Covid-19 still affecting beverage industry

Revenue in Vietnam’s beverage industry plummeted 17 per cent in 2020 compared to 2019. Although the industry is likely to recover over the course of this year thanks to the reopening of tourism and dining, gross profits seem certain to fall because the cost of all input materials are at high levels.
Norwegian energy giant to support offshore wind power

Norwegian energy giant to support offshore wind power

With a long coastline and favorable wind conditions, Vietnam has great potential to become one of the world’s leading offshore wind power markets. Eager to participate in the process, Equinor - Norway’s largest energy company - has established a representative office in Hanoi to support Vietnam in its green transition as well as its international commitments on the climate and the environment.
Pharma cluster being built in Tra Vinh

Pharma cluster being built in Tra Vinh

The TV.PHARM Pharmaceutical JSC and the FormaPharm Engineering Group have signed a cooperation agreement to build the TV.PHARM High-tech Pharmaceutical Cluster in the Mekong Delta’s Tra Vinh province under GMP-EU standards. The project has an area of 9.7 ha and total initial investment of VND650 billion ($28.3 million), and is expected to receive GMP-EU certification in early 2024.
PMI in manufacturing remains stable

PMI in manufacturing remains stable

According to IHS Markit, the Purchasing Managers’ Index (PMI) in Vietnam’s manufacturing sector was unchanged at 51.7 points in April, as overall business conditions improved for the seventh consecutive month. Disruptions due to the pandemic declined in the month, with employee numbers and output continuing to increase while growth in new orders slowed.
Agriculture posts 4M trade surplus of $4bln

Agriculture posts 4M trade surplus of $4bln

Trade in the agriculture, forestry, and fishery sector reached $31.8 billion in the first four months of the year, up 7 per cent year-on-year. Exports were $17.9 billion, up 15.6 per cent, while imports were $13.9 billion, down 2.3 per cent. The sector therefore posted a surplus of nearly $4 billion, or 3.2 times higher than in the same period last year.
Newly-registered enterprises hit record in April

Newly-registered enterprises hit record in April

There were more than 15,000 newly-registered enterprises in April; a new record. According to Mr. Bui Anh Tuan, Director of the Business Registration Management Agency at the Ministry of Planning and Investment (MPI), the pandemic is now largely under control and the business environment has improved, both of which encourage new owners to get started. The rest of the year is also forecast to be positive for new businesses.

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