Vietnam Vietnam Economy Thread

[Viva_vietnamm]

France gives Prime Minister Pham Minh Chinh and the Vietnamese delegation official ceremonies, more than usual
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Seem like after Australia canceled the nuclear submarine agreement, France begin to understand that white friends aren't good friends anymore.

 

[Viva_vietnamm]

Japanese newspaper: Vietnam leads the race to restore supply chains in Southeast Asia, the auto industry "breathes a sigh of relief"
11-11-2021 - 08:35 AM |

Japanese newspaper: Vietnam leads the race to restore supply chains in Southeast Asia, the auto industry "breathes a sigh of relief"

In the context of the decreasing number of Covid-19 cases in Vietnam, companies producing essential electrical and electronic components for the auto industry are also making a strong comeback, global manufacturers such as burden is relieved.

As Covid-19 cases plummet across Southeast Asia, supply chains in the region are racing to recover to full capacity, after months of shutdowns and shutdowns, Nikkei Asia reports. capacity reduction.

Vietnam in particular, is quickly returning to normal, after easing restrictive measures. About 200 domestic factories contracted to produce sportswear for Nike have resumed operations, according to local media reports.

An industrial park in Ho Chi Minh City, home to factories operated by Samsung Electronics and Intel, will "support so that factories of both companies can resume operations this month", an executive said. industrial park operator said.

Starting from July, factories in the South of Vietnam had to implement strict restrictive measures to prevent disease. Obstacles due to the epidemic have caused a series of factories to shut down and cut output.

In the context of the decreasing number of Covid-19 cases in Vietnam, companies producing essential electrical and electronic components for the auto industry are also making a strong comeback, global manufacturers such as burden is relieved.

Japan's Furukawa Electric, is expected to return to full capacity at its factories in Vietnam. The company's 3 factories here produce wires for cars, and the facility in Ho Chi Minh City has about 8,000 workers.

"Factory lines are back at a level that can meet customer requirements," Furukawa Electric President Keiichi Kobayashi told Nikkei Asia.

The impact of restrictions to combat the Covid-19 epidemic has been particularly damaging to Southeast Asia's auto industry. Vietnam has many conductor factories, while Malaysia is a center for manufacturing semiconductors for cars.


Both divisions suffered from supply shortages - the main reason why Toyota Motor and seven other Japanese automakers were forced to cut production by half in September compared with the same period a year ago.

Vietnam was the source of about 40% of Japan's conductor imports last year. Japanese suppliers such as Yazaki and Sumitomo Electric Industries are also restoring production at their Vietnamese factories. This trend is expected to support a comeback in the Japanese auto sector.

In Malaysia, more than 90% of adults are fully vaccinated, bringing new life to the factory operations.

"Although 99% of Unisem's factory workers are vaccinated, all of them are tested for Covid-19 on a weekly basis," said John Chia, head of Malaysia's Semiconductor Assembly and Tester Unisem. Globally, the company can't keep up with semiconductor orders and is building a third factory in Chengdu, China."

Malaysia responded to the surge of Covid-19 with nationwide social distancing in June. Unisem was ordered to temporarily close its Ipoh factory in September. That, along with the shutdown. factory activity at STMicroelectronics, has impacted the semiconductor supply crisis, which has in turn led to production cuts at major automakers.

Jean-Marc Chery, CEO of Geneva-based STMicroelectronics, said: "Our factory has gone through a period of partial or complete closure, with the ability to return to 100% of capacity. production in the third quarter".

Báo Nhật: Việt Nam dẫn đầu cuộc đua phục hồi chuỗi cung ứng ở Đông Nam Á, ngành sản xuất ô tô "thở phào"

Trong bối cảnh số ca mắc Covid-19 ở Việt Nam giảm dần, các công ty sản xuất các linh kiện điện và điện tử thiết yếu cho ngành công nghiệp ô tô cũng đang trở lại mạnh mẽ, các nhà sản xuất trên toàn cầu như được trút bỏ gánh nặng.

cafef.vn

 

[Viva_vietnamm]

Vietnam's canvas shoe exports far exceed China's
Vu Khue -

The proportion of Vietnam's footwear export turnover in the 2016-2020 period tends to increase from 10.3% in 2016 to 13.6% in 2020. Vietnam ranks second in the world in footwear exports. in general but is the largest exporter of canvas shoes (in terms of value).

Vietnam is the largest exporter of canvas shoes




According to statistics of the General Department of Customs, Vietnam's footwear export turnover in the third quarter of 2021 reached $2.925 billion, down 47.7% compared to the second quarter of 2021, down 26.9% over the same period. term 2020.

In terms of absolute numbers, among export industries, footwear is the item with the largest decrease in turnover compared to the second quarter of 2021, when it decreased by 2.67 billion USD; compared to the same period in 2020, it ranked second (after gems, precious metals and products), with a decrease of 1.08 billion USD.

However, due to the high increase in footwear exports in the first months of the year, in the first nine months of 2021, the total export turnover of this item reached US$13.31 billion, up 9.7% over the same period in 2020. – lower than the 12.8% increase of the first 9 months of 2019 (when there was no Covid-19 epidemic).

Analysis by the Center for Industry and Trade Information (Ministry of Industry and Trade) shows that, due to the influence of the Covid-19 pandemic, the total number of world footwear exports in 2020 reached 12.1 billion pairs, a decrease of 19. % year over year, reaching 12.1 billion pairs – the lowest level in the past 10 years.

In 2020, Vietnam's footwear exports reached 1,233 billion pairs, down 9.1% compared to 2019. However, it was the first year that Vietnam surpassed 10% of the world's total footwear exports ( accounting for 10.2%), an increase of 4.4 times compared to 2011 (accounting for 2.3%, with 316 million pairs of shoes exported).

The average growth rate of the industry in the period 2016 - 2019 increased by 12.1%/year, Vietnam ranked second in the world in terms of footwear exports (after China). Notably, Vietnam is the largest exporter of canvas shoes (in terms of value), outstripping China.

In general, in the period 2016-2020, Vietnam's footwear exports grew by an average of 6.4% per year. The proportion of Vietnam's footwear export turnover in the 2016-2020 period tends to increase from 10.3% in 2016 to 13.6% in 2020.

Vietnam's footwear products have been exported to more than 150 markets around the world, mainly in the main markets such as the US, EU, China, Japan, UK...


In which, the US is the largest importer of Vietnamese footwear of all kinds, accounting for more than one third of the total export turnover of the whole industry. Before 2020, footwear exports to the US market maintained a good growth rate in turnover with an average growth rate in the period 2015 - 2019, reaching 13%/year.

In 2020, the impact of the Covid-19 epidemic should reduce footwear exports to this market, but increased sharply in the first months of 2021.

It is said that, with the US lifting preferential policies for footwear exports from China, India is creating more favorable competitive opportunities for Vietnam's footwear exports.

As for the EU market, the EU-Vietnam Free Trade Agreement (EVFTA) which took effect from August 1, 2020 is considered the biggest driving force for the growth of Vietnam's footwear industry in recent years. .

After the EVFTA Agreement officially took effect, Vietnam's footwear exports to the EU market gradually recovered. Vietnamese footwear in the EU currently has an advantage over competing countries such as China, Myanmar, India and Cambodia.

In the coming time, forecasts show that the world economy will continue to prosper again, especially the world's major economies such as the US and EU will reopen, the consumer market will recover strongly. ... is an opportunity for Vietnam's leather and footwear exports to regain growth momentum.

Xuất khẩu giày vải của Việt Nam vượt xa Trung Quốc

Tỷ trọng kim ngạch xuất khẩu giày dép của Việt Nam trong giai đoạn 2016 – 2020 có xu hướng tăng từ 10,3% trong năm 2016 lên 13,6% trong năm 2020. Việt Nam xếp thứ hai thế giới về xuất khẩu giày dép nói chung nhưng lại là nước xuất khẩu giày vải lớn nhất (về giá trị).

vneconomy.vn

 

[Viva_vietnamm]

FPT signed a digital transformation contract for the Singapore Government with a scale of 40 million USD
12-11-2021 -

After the first 10 months of the year, profit after tax for shareholders of parent company FPT and EPS reached VND 3,482 billion and VND 3,844 respectively, up 19.0% and 18.4%, equivalent to 103% of the plan.
FPT has just announced business results for the first 10 months of 2021 with estimated revenue of VND 28,215 billion, up 19.4%; Profit before tax is 5,206 billion dong, up 19.7% and profit after tax is 4,323 billion dong, up 19.3% over the same period last year.

Profit after tax for shareholders of parent company and EPS reached VND 3,482 billion and VND 3,844 respectively, up 19.0% and 18.4%, equivalent to 103% of the plan.

It is estimated that in October alone, FPT's revenue reached VND 3,262 billion, up 32% and profit after tax reached VND 538 billion, up 18% over the same period last year.


In the first 10 months of the year, new revenue of the Technology segment reached VND 19,462 billion, up 27%. In which, new registration revenue from foreign markets reached VND 14,030 billion, up 28%.

Revenue and profit before tax of foreign IT services continued to accelerate to VND 11,731 billion and VND 1,977 billion, respectively, up 20.2% and 22.7%. In which, the US and APAC markets continued to lead with revenue growth of 46% and 32%, respectively, thanks to large winning contracts in these markets.

Digital Transformation revenue also accelerated to an impressive 69% growth thanks to the momentum from AI/Data Analytics, Cloud Computing and Low code technologies.

Notably, FPT said that for the first time, after nearly 15 years of opening an office in Singapore, FPT has just signed a contract with a scale of 40 million USD in 2 years, focusing on digital transformation projects of the Government sector to develop a digital nation model - Smart Nation.

Long Chau

FPT ký hợp đồng chuyển đổi số cho Chính phủ Singapore, ước lãi ròng 10 tháng đạt gần 3.500 tỷ đồng

Sau 10 tháng đầu năm, lợi nhuận sau thuế cho cổ đông công ty mẹ FPT và EPS lần lượt đạt 3.482 tỷ đồng và 3.844 đồng, tăng 19,0% và 18,4%, tương đương 103% kế hoạch.

cafef.vn

thats a good step for ASEAN solidarity

 

[Viva_vietnamm]

KURZ Group to develop a $40 million factory in Becamex VSIP Binh Dinh​

November 09, 2021 | 10:58
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KURZ Group will develop a coating and thin film technology factory in Becamex VSIP Binh Dinh with the total registered capital of $40 million.

KURZ Group is the first project to be licensed in Becamex VSIP Binh Dinh

The project is deployed on an area of 12 hectares, slated to be put into operation in the second quarter of 2023. Once completed, the project will have a capacity of 15 million square metres per year of film, decorative decal, and hot stamping foil, as well as related tools and application machines and plastic parts.
The group was awarded an investment certificate by Binh Dinh People's Committee on November 8. This will mark the first project that has been licensed in Becamex VSIP Binh Dinh and the fourth foreign direct investment (FDI) project invested in the central province of Binh Dinh since the beginning of the year.
Nguyen Phi Long, Chairman of Binh Dinh People's Committee, affirmed the importance of the high-tech project by the German firm, which paves the way for attracting similar investments to Becamex VSIP Binh Dinh and the province.
The move follows the Investment Cooperation Minute signed between Becamex VSIP Binh Dinh JSC and KURZ Group in December 2020. Overcoming the difficulties caused by the COVID-19 pandemic, Becamex VSIP Binh Dinh JSC has completed site clearance and infrastructure development to hand over the land site to KURZ Group on schedule.
Becamex VSIP Binh Dinh Industrial, Urban and Service Park officially started construction in September 2020. The master plan covers an area of 1,425ha in subdivision 07 of Nhon Hoi Economic Zone.
Becamex VSIP Binh Dinh investors would have access to the integrated industrial park and township's synchronised, modern, and competent management. Becamex VSIP Binh Dinh is prepared to meet the most stringent criteria of both domestic and international businesses.
With a wealth of experience in industrial park development, Becamex VSIP Binh Dinh JSC affirms its willingness to accompany and support investors who are looking for investment opportunities in Vietnam with the motto "Invest now, firmly step forward to the future".

KURZ Group to develop a $40 million factory in Becamex VSIP Binh Dinh

KURZ Group will develop a coating and thin film technology factory in Becamex VSIP Binh Dinh with the total registered capital of $40 million.

vir.com.vn

 

[Viva_vietnamm]

Brands regain confidence when Vietnam reopens, textile exports will reach $38 billion
11/16/2021

According to VITAS, in the last two months of the year, textile and garment exports will reach about 3 billion USD/month when there are signs that orders have returned. Accordingly, bringing the total turnover of the industry in 2021 to about 38 billion USD.

At the introduction of Cotton Day Vietnam 2021 - A special forum on sustainable cotton that will take place on December 1, Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), informed Nike and Adidas moving its factory out of Vietnam in August and September is incorrect.


In fact, these brands have production systems in Vietnam in two fields of garment and leather shoes, but they have not invested in factories.

"As of October, when we reopened, at Viet Tien Garment Corporation, Nike had not shipped any orders because we could not choose a manufacturer that could meet their requirements. about time, quality, evaluation system like in Vietnam", Mr. Vu Duc Giang informed.

According to the President of VITAS, during the recent social distancing period, Vietnamese textile and garment enterprises could not meet the delivery schedule, so a certain number of orders for November and December delivery and for the 2022 New Year were delivered. go, estimated at 13-14%.

However, there are signs that orders have returned since the Government issued Resolution 128 on controlling and living with COVID-19 in a new situation.

Brands regain confidence when Vietnam reopens, textile exports will reach $38 billion - Photo 1.
Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS) shared at the introduction of Cotton Day Vietnam 2021 taking place on the afternoon of November 15. (Photo: Nhu Huynh)

The VITAS representative emphasized that brands now have confidence when Vietnam reopens the economy, so only when the pressure on delivery time is too urgent and it is impossible to calculate the balance of sales time, the brands will Just ship the order to any country that meets the requirements.

"Because when shipping orders abroad, it costs a lot of transportation, production organization, and system evaluation, and only factories that meet the standards will be produced," added Mr. Giang.

Although Ho Chi Minh City and the southern provinces were severely affected by the prolonged COVID-19 epidemic, the country's textile and garment export turnover in the first 10 months of this year still achieved a growth rate of nearly 11% over the same period last year. last year.

Specifically, the total textile and garment export turnover of the country in the first 10 months of the year reached more than 32 billion USD, up 10.8% over the same period last year.

In which, garment export reached more than 23.8 billion USD; fabric reached more than 2 billion USD, textile materials more than 1 billion USD, nonwoven fabric was 636 million USD. Notably, the export turnover of fiber products reached nearly 4.5 billion USD, up more than 52% over the same period last year.

With the above export results, the President of VITAS forecast that in the last two months of the year, the industry's export will reach about 3 billion USD/month, bringing the total turnover of the industry to about 38 billion USD by the end of the year. While at the end of 2020, the export turnover of the industry reached about 35 billion USD, down 9.8% compared to 2019.

At the same time, VITAS leaders believe that the export turnover of Vietnam's textile and garment industry will continue to increase in 2022.

Mr. Vu Duc Giang also said that American cotton is one of the choices that makes a great contribution to meeting the needs of expanding Vietnam's textile industry, creating favorable conditions for garment production and export. wear.

Vietnam is currently the largest importer of US cotton in the world. Mr. Vo Manh Hung, the representative of Cotton USA in Vietnam, said that the world textile and fashion industry is making strong changes towards environmental protection and sustainable development. Brands are increasingly focusing on materials that are both fashionable and environmentally friendly.

Các nhãn hàng có lại niềm tin khi Việt Nam tái mở cửa, xuất khẩu dệt may sẽ đạt mốc 38 tỷ USD

Theo VITAS, trong hai tháng cuối năm, xuất khẩu của dệt may sẽ đạt khoảng 3 tỷ USD/tháng khi dấu hiệu các đơn hàng đã quay lại. Theo đó, nâng tổng kim ngạch của ngành hàng trong năm 2021 đạt khoảng 38 tỷ USD.

vietnambiz.vn

 

[Viva_vietnamm]

Vietnam - US trade turnover can reach 100 billion USD
Vietnam - US trade turnover increased hundreds of times, from 451 million USD in 1995 to 90.8 billion USD in 2020 and is expected to reach 100 billion USD this year.



At a forum to promote Vietnam-US trade in new circumstances on November 16, Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said that it has been 25 years since the two countries established foreign relations. Two-way trade turnover between Vietnam and the US has increased hundreds of times, from 451 million USD in 1995 to 90.8 billion USD in 2020.



In the first 8 months of this year, the total two-way trade turnover between Vietnam and the US reached 73 billion USD. It is forecasted that this year, this turnover will reach 100 billion USD, an increase of more than 200 times compared to 1995.



In the last five years, the average annual growth of Vietnamese goods exported to the US increased by 230%, from the US to Vietnam increased by 175%. Vietnam has become the 10th largest trading partner of the US, while the country is also the largest trading partner of Vietnam.



Under the impact of Covid-19 causing the global economy to wobble, the supply chain was continuously broken, but many US businesses tend to step up negotiations to invest in projects in Vietnam in many fields such as: : manufacturing, processing, clean energy, aviation, healthcare, pharmaceutical...

In the fields of traditional exports to the US, wood, footwear, textiles... are industries that have recorded strong growth in import and export turnover in recent years.



Mr. Ngo Sy Hoai, Vice President and General Secretary of the Vietnam Timber and Forest Products Association said that Vietnam is currently the country that exports the most wood products to the US market. In the opposite direction, Vietnam is also the country behind China in importing wood materials from the US.

Kim ngạch thương mại Việt - Mỹ có thể đạt 100 tỷ USD

Kim ngạch thương mại Việt - Mỹ tăng hàng trăm lần, từ 451 triệu USD năm 1995 lên 90,8 tỷ USD năm 2020 và dự kiến đạt 100 tỷ USD năm nay.

vnexpress.net

 

[EastseaQ77]

This Vietnam-based upstart is coming to Canada with these two new EVs—but can it take on its legacy rivals?

LOS ANGELES, California—Salvation from an otherwise tedious — as in slow, poorly attended, and with a severe lack of new model reveals — Los Angeles Auto Show came from a very unexpected source: VinFast. If you haven’t heard of VinFast, you’re not alone. The company is barely four years old, is largely unknown out of its home country of Vietnam, and has so far only produced cars built through licenses from BMW and General Motors.


More amazing still is that VinFast is, by automotive standards at least, a tiny little thing. Last year its total production was but 30,000 units; Toyota USA alone sells that many RAV4s pretty much every month. Some of those cars, as I said, are based on BMWs — the 5 Series and the X5 — for which it has a license from Munich to produce for its home market. Now mind you, these have been stylishly remodelled, but they are nonetheless store-bought engineering.

And yet CEO Michael Lohscheller is confident — indeed, very confident — that his fledgling little automaker is ready to take North America by storm. Perhaps it’s because VinFast is part of Vingroup, the largest conglomerate in Vietnam, which has already committed US$3.5 billion to the cause and hopes to be soon manufacturing as many as 250,000 cars a year. Or maybe it’s because Hanoi is already ranked as one of the most-polluted cities in Southeast Asia and all this chutzpah is just self-preservation in disguise. Whatever the reason for all the confidence, both the e35 and e36 will be built on platforms engineered, developed, and manufactured by VinFast.

And these cheap little runabouts aren’t targeting the lower echelons of the North American market. Both are – big surprise – SUVs, the smaller of the two, the e35, a compact sport-cute; while the larger e36 is a mid-sized sport utility. Both are battery-powered, of course, the 35 sporting 86 kilowatt-hours of lithium-ion; while the e36 boasts some 90 kWh. And VinFast wins more than a few kudos by advertising the number of usable — or nominal — kilowatt-hours its EVs are capable of delivering, not the total on board.

In case you’re missing that reference, all electric vehicles keep a certain amount of battery capacity in reserve, since depleting a lithium-ion cell completely could cause irreparable damage. In this case, the e36’s 90-kWh rating pretty much guarantees there’s somewhere between 96 and 100 kilowatt-hours on board. Ford and Porsche are the only other automakers to rate their EVs this way, so kudos to VinFast.

As for other battery-related performance metrics, VinFast says that a 70-per-cent recharge could take as little as 15 minutes. But Lohscheller, a former Opel CEO — and Automotive News Europe’s Eurostar for his unexpected turnaround of that long-ailing company — is also hoping that its association with StoreDot, the Israeli purveyor of five-minute batteries, will usher in an era of even faster charging.

As for its impending North American rollout, VinFast promises the same aggressive approach. In fact, the company hopes to open as many as 60 showrooms in the United States next year, and perhaps a dozen or more here in Canada in the same time frame.


Taking a page out of the Tesla playbook, all of the company’s showrooms in Canada will be company-owned. Some will be sales-only outlets, while others will be more traditional sales-and-service dealerships. Like Genesis’ “at home” promise, VinFast claims it will offer to come to the owners for any required repair and will leave a loaner car if the service requires shop time.

It all sounds very promising. The question, however, remains whether such a seemingly small company with little history of automobile production can match the might of the legacy automakers, not to mention all the Silicon Valley-like startups the recent transformation to electric has conjured up. One thing is for sure: VinFast does not lack for ambition.

First Look: 2022 VinFast VF 8 and VF 9

This Vietnam-based upstart is coming to Canada with these two new EVs—but can it take on its legacy rivals?

driving.ca

 

[Viva_vietnamm]

VinFast's President revealed a plan to invest 5-6 billion USD in the US
11/19-2021

In an interview with Bloomberg, Ms. Le Thi Thu Thuy, President of VinFast, revealed an investment plan of up to 6 billion USD for the first phase in the US, after the launch of two models VF e35 and VF e36 at the exhibition. Los Angeles car.

Entering the US and Canadian markets is a bold move. What makes you think VinFast will achieve this goal?

President Le Thi Thu Thuy: First of all, we planned this 4 years ago. Since we had the idea to start a car company, we believed we could succeed in America. Like other markets, like Vietnam, we prioritize focusing on the quality of our products.

We showed two SUV models VF e35 and VF e36 at the Los Angeles auto show. These are good quality cars with a warranty period of up to 10 years. Second, our electric vehicle prices are also very competitive in today's market.

So can you reveal the price of VinFast electric cars?

President Le Thi Thu Thuy: We are still trying our best to research to come up with the most reasonable price. The price will be very competitive compared to internal combustion vehicles and this will motivate consumers to switch from internal combustion engine vehicles to electric vehicles easily. As everyone knows, not everyone can afford to buy an electric car for hundreds of thousands of dollars.

You're talking about Tesla, right?

President Le Thi Thu Thuy: And other electric car companies too. I mean electric car lovers will be attracted to electric car products. However, the majority of mass-market buyers are less able to pay, and we target these audiences. And we don't want to compete with any electric vehicle manufacturers, we just want to take market share from the internal combustion engine car segment. Anyway, that is the general trend in the world today.

As I know in my hometown of Vietnam, VinFast is a key player in the electric vehicle segment. How much market share will VinFast aim to hold in markets like the US and Canada?

President Le Thi Thu Thuy: We spent 2 years researching the domestic market with 3 models. And the car models are holding the leading position in Vietnam. We also want to go global by 2022. In the US, even if we can get 0.5% market share, 1% or 2% in the future, this is already a lot.

So is VinFast also planning to open a factory in the US? So where and when will VinFast build the factory?

Chairwoman Le Thi Thu Thuy: Currently, we have narrowed our scope from more than 50 locations to 5-6 locations. We are still in the process of reviewing locations and may make an announcement early next year. As expected, we will open the production complex in the US in the second half of 2024.

So how will VinFast invest?

Chairwoman Le Thi Thu Thuy: We are considering to invest about 5-6 billion USD in the first phase and in the first two years we will spend about 1.5-2 billion USD for a car factory, a gigafactory. (super-factory) for the production of battery cells and vehicle batteries, as well as an electric bus factory.

Before that, there was also a lot of information about the plan to list in the US. So where did that plan go?

Chairwoman Le Thi Thu Thuy: We plan to list in the US, maybe this will happen in the next 1-2 years. We are still researching and implementing this goal. The sooner the better, of course. But I think it depends on many other factors, such as waiting to launch electric cars in Vietnam first or VinFast receiving pre-orders for about 25,000 cars that we need to deliver this year and early next year.

We are working on a portfolio of a wide range of cars, along with two VinFasts on display at the Los Angeles Auto Show. These vehicles will be offered for sale in the US and will be available for pre-order in the first half of 2022 and delivery in the second half of 2022.

So why isn't now the time for an IPO when the euphoria about electric car stocks is huge? For example, Rivian had a huge IPO recently.

Chairwoman Le Thi Thu Thuy: This can happen. I think the possibility of an IPO depends a lot on the market. Rivian had a great IPO. But I see that the market is looking for more players and more possibilities to perform in the electric vehicle sector. And I think we already have a good opportunity in the future.
So what about the plan in Vietnam's hometown, VinFast will build a battery factory in Vietnam, right?

President Le Thi Thu Thuy: 1 month ago, we announced that we would build a factory to manufacture battery cells and battery packs in Vietnam. VinFast is also establishing the most self-driving features, smart features and connectivity, and also a test facility.

Currently, VinFast is in the process of researching and testing many of its products. Besides, we will also focus on developing new features such as self-driving, other intelligent services.

Chủ tịch VinFast hé lộ kế hoạch đầu tư hàng tỷ USD tại Mỹ | Vietstock

Trong cuộc phỏng vấn với Bloomberg, bà Lê Thị Thu Thuỷ, Chủ tịch VinFast, hé lộ kế hoạch đầu tư hàng tỷ USD tại Mỹ, sau buổi ra mắt hai mẫu xe VF e35 và VF e36 tại triển lãm ô tô Los Angeles.

vietstock.vn

 

[Viva_vietnamm]

Export of living room, dining room furniture increased by more than 13% in 10 months
11/21/2021

According to the Import-Export Department, the export value of living room and dining room furniture will be better in the last two months of 2021 when market demand will continue to increase after a long time of being suppressed by the epidemic.
The Import and Export Department (Ministry of Industry and Trade) estimates that the export of living room and dining room furniture in October 2021 will reach 120 million USD, bringing the export value in the first 10 months of 2021 to 2.46 billion USD. up 13.3% over the same period in 2020.

In the world market, the global economy recorded positive developments in the context that the epidemic was gradually under control, most of the economies were gradually returning to normal, removing control measures and reopen.

Vietnamese bedroom furniture products have met the requirements of American consumers

This promotes a sharp increase in consumer demand, in which living room and dining room furniture is the item whose consumption demand often increases sharply in the last months of the year, meeting the finishing and remodeling construction market. , decorate the house when the new year is approaching.

In the Vietnamese market, from the end of September 2021, many provinces and cities have reopened when the epidemic situation is under control, production activities gradually recover, but capacity is still low, due to That said, the export of living room and dining room furniture in October 2021 has not yet improved.

Currently, wood industry enterprises are rushing to mobilize workers and increase capacity to keep up with the delivery schedule in the near future. Besides, market demand continued to increase after a long time of being suppressed by the complicated development of the epidemic. Therefore, the export value of living room and dining room furniture will be better in the last two months of 2021.

Export of living room and dining room furniture increased by more than 13% in 10 months - Photo 1.
(Source: General Department of Customs-estimated October 2021/Ministry of Industry and Trade)

Living room and dining room furniture was mainly exported to the US market in the first nine months of 2021, reaching 1.73 billion USD, up 31.3% over the same period in 2020, accounting for 74.1% of the total value. export furniture for living room and dining room.

Followed by the Japanese market with 97 million USD, down 4.7%; UK reached 82.6 million USD, up 24.1%; Canada reached 68.5 million USD, up 32.7%; France reached $46.1 million, up 22.5% over the same period in 2020.

Xuất khẩu nội thất phòng khách, phòng ăn tăng hơn 13% trong 10 tháng

Theo Cục Xuất nhập khẩu trị giá xuất khẩu mặt hàng đồ nội thất phòng khách và phòng ăn sẽ khả quan hơn trong hai tháng cuối năm 2021 khi nhu cầu thị trường sẽ tiếp tục tăng sau thời gian dài bị kìm nén bởi dịch bệnh.

vietnambiz.vn

 

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Established Vietnam - Korea Economic Cooperation Industrial Park
11/21/2021

Hung Yen Provincial People's Committee has just issued a decision to establish the Vietnam - Korea Economic Cooperation Industrial Park (also known as Clean Industrial Park) in the complex of Industrial Park and Service Urban Ly Thuong Kiet, Hung Yen Province. .

Standing Vice Chairman of the Provincial People's Committee Dang Ngoc Quynh handed over the decision to establish the Vietnam - Korea Economic Cooperation Industrial Park to TDH Ecoland Urban Development and Investment Joint Stock Company. Photo: hungyen.gov.vn

The project aims to invest in the construction and business of clean industrial park infrastructure, contributing to turning Hung Yen into a modern industrial province following the trend of green ecology.


The project with a scale of more than 140 hectares by LH Group in cooperation with TDH Ecoland Urban Development and Investment Joint Stock Company and a number of Korean investors is being implemented in the province. This is part of the core economic cooperation project that the Korean Government is promoting in Vietnam through the New Southbound Policy in the housing, real estate and industrial sectors.

The project has been approved by the Prime Minister for investment policy and added to the master plan on development of industrial parks in Vietnam until 2020. Currently, the investor is implementing withdrawal procedures. land and invest in infrastructure according to the approved planning, ensuring the ground to receive investors according to regulations. The project is divided into two phases with a total investment of more than 1,780 billion VND, equivalent to nearly 77 million USD.

Vice Chairman of Hung Yen Provincial People's Committee Dang Ngoc Quynh said that the province always accompanies businesses to promptly solve difficulties and problems; at the same time, creating all favorable conditions and supporting enterprises to accelerate research and investment implementation so that the first Korean-style clean industrial park project in Vietnam will soon come into operation. The Vietnam - Korea Economic Cooperation Industrial Park will be a symbol of Vietnam - Korea economic cooperation, aiming to celebrate the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea in 2022.

Previously, following the direction of the Government, Hung Yen province also built an orientation to attract investment in industrial parks, ensuring favorable conditions for the development and strengthening of production links in industrial parks. ; create conditions for investors to deploy projects on schedule, effectively use land resources and ensure the feasibility of the development planning of industrial parks in the area.

Thành lập Khu công nghiệp hợp tác kinh tế Việt Nam - Hàn Quốc

UBND tỉnh Hưng Yên vừa ban hành quyết định thành lập Khu công nghiệp hợp tác kinh tế Việt Nam - Hàn Quốc (còn gọi là Khu công nghiệp sạch) thuộc tổ hợp Khu công nghiệp và Đô thị dịch vụ Lý Thường Kiệt, tỉnh Hưng Yên.

baotintuc.vn

 

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Prime Minister urges Japan to invest and support Vietnam's economic recovery
11/23/2021
In the context of the need for quick socio-economic recovery due to the Covid-19 pandemic, Vietnam called on Japan to invest with a package large enough, preferential, flexible, and the procedure as simple as possible.

Prime Minister arrives in Tokyo, begins official visit to Japan
Important turning points in Vietnam - Japan relations
Vietnam wishes to work closely with the new Japanese Prime Minister

Answering the Japanese press about the first official visit to Japan from November 22-25, Prime Minister Pham Minh Chinh affirmed: Vietnam consistently implements the foreign policy of independence, self-reliance, peace and friendship. consultation, cooperation and development; multilateralize, diversify, proactively and actively integrate into the world comprehensively, extensively and effectively; is a good friend, a reliable partner and an active and responsible member of the international community.

Let's open a new stage of development together

“Vietnam always attaches great importance to and wishes to join Japan in opening a new stage of development in the two countries' relations, deeper and more effective, for peace, stability, cooperation for development and prosperity in the region. and in the world”, emphasized the Prime Minister.

According to the head of the Government, through many ups and downs of history and predestined relationships, today, Vietnam and Japan are close friends and reliable partners in many fields. "It can be said that Vietnam - Japan relations are at the best stage of development."

Japan is currently the leading economic partner of Vietnam, ranking first in ODA, second in investment, third in tourism and fourth in trade.

A batch of Covid-19 vaccine was given to Vietnam by the Japanese Government in June 2021.

“The relationship of Japan and Vietnam is even more profound in times of difficulty and challenge. During the Covid-19 epidemic, the two countries have always shared and supported each other. We have received effective and timely help from Japan in disease prevention with donations of over 4 million doses of vaccines and many medical equipment and supplies," the Prime Minister said.

The head of the Government said that Vietnam is very interested in, supporting and creating favorable conditions for Japanese citizens and businesses in Vietnam to maintain and develop production and business activities, ensuring the supply chain. production and supply.

“Vietnam wishes to work with Japan to more effectively implement the current cooperation mechanism, and at the same time build a new cooperation mechanism to jointly open a new stage of development of the Vietnam-Vietnam extensive strategic partnership. South - Japan", emphasized Prime Minister Pham Minh Chinh.

In which, the Prime Minister mentioned strongly promoting bilateral relations in the following areas: Economic cooperation during the Covid-19 pandemic; bilateral trade, creating favorable conditions for the two countries' goods to enter each other's market.

In addition, Vietnam calls for and creates the most favorable conditions to attract from Japan financial capital, investment capital, and ODA capital with a package that is large enough, preferential, flexible, and simple as possible. , which is appropriate in the context of the need for rapid socio-economic recovery caused by the Covid-19 pandemic.

Vietnam is focusing on economic recovery, strategic infrastructure, health cooperation, high-quality human resource training, digital transformation, digital economy, response to climate change...

“The Vietnamese people always have great affection, respect, esteem and trust for the country and people of Japan. I believe that with the efforts, consensus and high trust of both sides, Vietnam and Japan will continue the good development momentum of the relationship of "Extensive Strategic Partnership for Peace and Prosperity". prosperity in Asia", actively contributing to peace, stability, cooperation and development in the region and in the world", the Prime Minister emphasized.

Commitment to protect the legitimate rights and interests of investors

Regarding the improvement of the business and investment environment so that foreign investors can consider Vietnam an attractive destination in the long-term, Prime Minister Pham Minh Chinh said that Vietnam has basically passed the phase of development. In the most difficult situation, proactively change the strategy from "no Covid" to "safely adapting, flexibly, effectively controlling the Covid-19 epidemic, recovering and developing socio-economically".

This is the right direction because economic indicators in the last 2 months after implementing the shift in disease control have shown positive results and clear economic recovery.

Vietnam identifies a people-wide approach and takes people and businesses as both the goal, the driving force, as well as the center, as the subject in epidemic response and socio-economic recovery. The Vietnamese government always understands and shares with the difficulties of businesses.

"Recently, I have had many working sessions and directly listened to the opinions and proposals of foreign businesses and business associations, including Japanese enterprises," the Prime Minister informed.

Currently, in order to attract international investors, including Japanese investors, to continue doing business and make new investments in Vietnam, the Prime Minister said, Vietnam is focusing on a number of policy directions. to improve the investment and business environment.

That is, continue to maintain political stability, social order and safety; ensure a peaceful and stable environment for cooperation and development. "Vietnam's consistent view is to manage the economy to create a stable macro environment for foreign investors to invest in Vietnam with peace of mind."

Along with that is to improve the quality of national and sectoral governance; improve institutions, amend legal regulations in the direction of increasing decentralization and decentralization, minimizing investment and business procedures of enterprises, reducing time, cost of carrying out administrative procedures

Chairman of the Japan-Vietnam Friendship Parliamentary Union Nikai Toshihiro presented the logo to Prime Minister Pham Minh Chinh.

At the same time, the Government should consider and immediately handle the current difficulties and problems of business associations, including the Japan Business Association, in order to restore the supply chain, ensure the circulation of goods and activities. production and business of enterprises in the new normal conditions.

"The Vietnamese government is committed to protecting the legitimate and legitimate rights and interests of investors and has established a special working group on solving difficulties for businesses," the Prime Minister said.

In addition, the head of the Government of Vietnam also made a commitment to support businesses and people to promote production and business and stabilize their lives. Specifically, implementing exemption and reduction of many taxes, fees, charges, electricity price reduction, telecommunications charges; promoting the reopening of international routes, completing the new entry process...

Along with that, drastically implementing investment programs for strategic infrastructure.

“We call for investment methods with the participation of foreign investors and private investors, especially promoting the effectiveness of the public-private partnership model in infrastructure investment, transforming digitalization, green development, combating climate change", the Prime Minister said.

In addition, Vietnam continues to promote human resource development, focusing on training digital human resources, skilled workers, and high technical qualifications.

On this occasion, the Prime Minister highly appreciated and thanked the Japanese Government, people and businesses for their efforts, consensus and sharing with Vietnam in disease prevention and control, and contributed to the Vaccine Fund. of Vietnam.

"With the spirit of "harmonious benefits, shared risks", this is a very valuable value in the trusting and sincere friendship between the two countries", the head of the Vietnamese Government shared.

Thủ tướng kêu gọi Nhật Bản đầu tư, hỗ trợ Việt Nam phục hồi kinh tế

<p>Trong bối cảnh cần nhanh chóng phục hồi kinh tế xã hội do đại dịch Covid-19, Việt Nam kêu gọi Nhật Bản đầu tư với gói đủ lớn, ưu đãi, linh hoạt, thủ tục đơn giản nhất có thể.</p>

vietnamnet.vn

 

[Viva_vietnamm]

Vietnam, Japan exchange cooperation agreements worth billions of USD

On the morning of November 25 (local time), Prime Minister Pham Minh Chinh attended the Vietnam-Japan investment promotion conference with the theme "Vietnam-Japan elevating relations, cooperating for mutual development". At the conference, in the presence of the Prime Minister, cooperation documents worth billions of dollars were exchanged.

This is the first Vietnam-Japan investment promotion conference after nearly 2 years of hiatus due to the COVID-19 pandemic, organized by the Ministry of Planning and Investment and the Japan Trade Promotion Organization (JETRO).

At the conference, the Prime Minister and members of the high-ranking Vietnamese delegation visiting Japan witnessed the exchange of 44 cooperation documents between agencies and businesses of the two countries, including economic cooperation agreements. with a total value of many billion USD. In which, the cooperation agreement on investment in Long Son power plant is worth 1.75 billion USD, the project of raising, processing and distributing beef cattle in Vinh Phuc is worth 500 million USD, and the cooperation agreement in developing the area is worth USD 1.75 billion. Dinh Vu economic (Hai Phong) worth 250 million USD…

The Prime Minister also witnessed the signing of a memorandum of understanding on cooperation in liquefied petroleum gas and investment in energy projects in Thua Thien Hue province. This is a cooperation between Chan May LNG Joint Stock Company (CML) and Mitsubishi Corporation (Japan).

Speaking in front of thousands of delegates and business leaders attending the conference, Prime Minister Pham Minh Chinh analyzed and clarified more about the huge and promising new cooperation opportunities being opened for the business community. two countries.

First of all, in the context of the world with many changes and fierce strategic competition, the relationship between Vietnam and Japan has never been as good as it is today. Prime Minister Pham Minh Chinh's visit to Japan has brought the Vietnam-Japan extensive strategic partnership to a new height, turning a new page. This is a very favorable factor for economic cooperation activities and business exchanges between the two countries.

Along with that, Vietnam's political stability is a condition for investors to feel secure in long-term investment, realizing and developing business ideas.

In particular, the Prime Minister emphasized the importance of the human factor in attracting investors. Vietnamese people have many valuable qualities that meet the requirements of investors such as creativity, hard work, humble listening, intelligence, flexibility in all conditions, especially when facing difficulties, trying challenge is to unite, make efforts, find every way to rise, overcome, affirm and grow.

The issue of human rights in Vietnam was enshrined in the first Constitution in 1946 and since then, human rights regulations have been increasingly improved. The XIII Congress of the Communist Party of Vietnam also emphasized the issue of human security, considering people as the center, the subject, the goal and the driving force of development. Therefore, investors coming to Vietnam can be completely assured in terms of security and Vietnam will continue to promote the human factor in the development process.

Delegates exchanged cooperation documents on the project of raising, processing and distributing beef cattle in Vinh Phuc worth 500 million USD - Photo: VGP/Nhat Bac

Along with that, Vietnam is actively implementing three strategic breakthroughs in institutional improvement, infrastructure development and human resource training. Vietnam's business investment environment is increasingly favorable, stable and transparent. Vietnam is committed to creating all favorable conditions in terms of institutions and administrative procedures. Vietnam market.

Besides the advantages, Vietnam also faces many difficulties and challenges. Those are global problems related to epidemics, climate change, population aging, resource depletion... that every country has to face, Vietnam is a developing country even more difficult. Along with that, Vietnam's institutions, administrative reform, human resources... still have problems that need to be further resolved.

The Prime Minister stated that Vietnam is not outside the global impact and needs the cooperation and support of developed countries, the international community, including investors, especially in completing the project. institutions, training high-quality human resources associated with innovation, mobilizing financial sources, especially green finance for sustainable development, applying new technologies, especially green technologies, improve corporate governance and national governance capacity.

At the conference, the Prime Minister and members of the high-ranking Vietnamese delegation visiting Japan witnessed the exchange of 44 cooperation documents between agencies and businesses of the two countries, including economic cooperation agreements. with a total value of many billion USD. Photo: VGP/Nhat Bac

Vietnam encourages Japanese businesses to expand investment cooperation where Japan has strengths, Vietnam has great needs and opportunities, such as digital transformation and high-quality human resource training. , strategic infrastructure, agricultural development, green economy, circular economy, climate change response...


The Government is committed to accompanying the business community, supporting and creating all favorable conditions for business investment activities, bringing more benefits to the parties, contributing to bringing Vietnam-Japan relations to a higher level. a new level.

“Despite the difficulties, opportunities and advantages are still fundamental. We have the foundation of affection between two peoples, two countries, two peoples, sincerity in working process and trust in cooperation process after nearly 50 years of establishing relations. We will overcome the immediate difficulties, look to the long-term, cooperate more closely, more effectively, win together", the Prime Minister said and expressed his belief that there will be a strong new investment flow. from Japan to Vietnam.

Speaking at the conference, the Japanese delegates affirmed that thanks to the efforts to improve the business environment of Vietnam, the confidence of investors has increased markedly.



Japanese Minister of Economy, Trade and Industry Koichi Hagiuda highly appreciated and expressed his gratitude to the Prime Minister and Vietnamese ministers for their efforts to solve business problems in the recent difficult context. due to the COVID-19 epidemic, especially in maintaining the supply chain.



The Minister said that he will promote economic cooperation and investment between businesses of the two countries in depth, in the direction of sustainable development, climate change adaptation, emission reduction, digital transformation... Especially, Japan Japan will make every effort to support Vietnam in the implementation of the Asian Energy Transformation Initiative proposed by Japan with a value of 10 billion USD.








Photo: VGP/Nhat Bac
Right before the promotion conference, the Prime Minister received the Minister of Economy, Trade and Industry of Japan Koichi Hagiuda. At the meeting, in addition to cooperation in energy transformation and green growth, the Minister also suggested that the two sides continue to effectively coordinate in the implementation of the CPTPP to keep high standards and promote production capacity. of Vietnam. The Minister expressed great expectations for the development of Vietnam and cooperation activities between the two countries, including cooperation in digital transformation and human resource training.



The Prime Minister said that Vietnam has issued a National Strategy on Green Growth, asking the Japanese side to continue to support Vietnam in improving its institutions, improving the quality of human resources associated with innovation, and supporting Vietnam. support green financial resources, green technology, national governance capacity, businesses, continue to expand export markets, create jobs, help people improve their incomes.



The Prime Minister suggested that the Japanese Ministry of Economy, Trade and Industry and the Ministry of Industry and Trade of Vietnam adjust cooperation activities in line with new trends and in the spirit of the Vietnam-Japan Joint Declaration.



The Prime Minister suggested that in the process of implementing the Asian Energy Transformation Initiative, Japan will give priority to Vietnam and Vietnam will use this resource to ensure the highest efficiency.

Việt Nam, Nhật Bản trao đổi các thỏa thuận hợp tác trị giá hàng tỷ USD

(Chinhphu.vn) - Sáng 25/11 (theo giờ địa phương), Thủ tướng Phạm Minh Chính đã dự Hội nghị xúc tiến đầu tư Việt Nam-Nhật Bản với chủ đề “Việt Nam-Nhật Bản nâng tầm quan hệ, hợp tác cùng phát triển”. Tại hội nghị, trước sự chứng kiến của Thủ tướng, các văn kiện hợp tác trị giá hàng tỷ USD đã được...

baochinhphu.vn

 

[Viva_vietnamm]

Many large Japanese corporations want to build railways and COVID-19 drug production facilities in Vietnam
11/24/2021

Meeting with Prime Minister Pham Minh Chinh in Tokyo, Chairman of Hitachi Group shared his desire to invest in railways in Vietnam. Meanwhile, the General Director of Shionogi Pharmaceutical Group also expressed his intention to invest in a research and production facility for vaccines and drugs to treat diseases in Vietnam.
According to the Government Newspaper, on the morning of November 24, within the framework of his official visit to Japan, Prime Minister Pham Minh Chinh received leaders of many economic groups and universities that are and intend to invest in Vietnam in many areas. fields such as transportation, real estate, energy, healthcare, education...

At the meeting, the Prime Minister met with the General Director of Shionogi Pharmaceutical Group, specializing in the production of leading infectious disease drugs in Japan.

The Prime Minister said that one of Vietnam's priorities during this official visit to Japan is to promote cooperation in healthcare, the production of medicines, vaccines for COVID-19 and other vaccines against the virus. other diseases.

General Director of Shionogi said that the Group will continue to support Vietnam in testing the production of vaccines and drugs to treat COVID-19. At the same time, it wants to invest in a research and production facility for vaccines and therapeutic drugs in Vietnam and will be the Group's first facility in Southeast Asia.

The Prime Minister agreed with the above proposal of the Group and suggested that the Group work with the Ministry of Health and relevant ministries and branches of Vietnam to research and deploy, in the spirit of strictly complying with the laws of each party. and mutually beneficial.



Prime Minister Pham Minh Chinh receives President of Hitachi Group in Japan. (Photo: VGP).

Also at the meeting, the Chairman of Hitachi Group proposed the Vietnamese Government to consider for the Group to expand investment and contribute to Vietnam's development process such as projects on environment, health, reduction disaster damage. In particular, the group also wishes to participate in investment in the railway sector.

Prime Minister Pham Minh Chinh said that the areas that Hitachi is interested in, the Vietnamese Government is also in need of development, especially in traffic, so it should agree on the policy and suggest that the Group work with ministries and sectors. related to Vietnam to learn and invest.

He also asked the Ministry of Transport and the Ministry of Planning and Investment to research, develop and implement the plans, and then announce to find partners, including Hitachi for consideration and investment.

In the immediate future, it is suggested that Hitachi study and build a railway line between Ho Chi Minh City and Can Tho, and then learn from experience and expand it to other routes.

"The investment can be in the form of a public-private partnership (PPP), hope the parties will immediately start working," emphasized the Prime Minister.

Receiving leaders of Sumitomo Group, a partner of BRG Group in Vietnam, Thu welcomed the policy of investment in developing urban areas, but proposed to study and associate urban development with production and business to have jobs. jobs, attract people to live in and associate with cultural, sports, and medical institutions...

The Prime Minister said that it is necessary to develop infrastructure to attract investment, develop businesses, promote production and business, create jobs, attract human resources to work and residents to live... The real estate sector and urban areas will develop sustainably.

The Prime Minister also welcomed Sumitomo Group's investment in fields related to employment, health care, education, green economy, combating climate change; encourage public - private cooperation to mobilize both public and private resources for development investment...

At the same session, the Prime Minister also received leaders of Ryukiu University Okinawa, Jutendo University, Hokkaido University; leaders of Kobuta Environmental Treatment Equipment Corporation, Paramount Corporation, Horiba Corporation and Azuma Corporation. These are the units that have been intending to invest in Vietnam in the fields of traffic safety, health, technology, renewable energy...

The Prime Minister asked businesses to coordinate with relevant Vietnamese agencies to study plannings, on that basis as a basis for investment.

In which, for solar power projects, it is necessary to study carefully to find solutions to reduce costs and increase investment efficiency; Regarding cooperation in the health sector, the Prime Minister proposed to consider investing in central-level hospitals, especially investment in digital transformation in the field of health, remote medical examination and treatment...

Nhiều tập đoàn lớn Nhật Bản muốn xây dựng đường sắt, cơ sở sản xuất thuốc COVID-19 tại Việt Nam

Gặp gỡ Thủ tướng Phạm Minh Chính tại Tokyo, Chủ tịch Tập đoàn Hitachi chia sẻ mong muốn đầu tư đường sắt ở Việt Nam. Trong khi đó, Tổng giám đốc Tập đoàn dược phẩm Shionogi cũng bày tỏ ý định đầu tư một cơ sở nghiên cứu, sản xuất vắc xin và thuốc điều trị bệnh tại Việt Nam.

vietnambiz.vn

 

[Viva_vietnamm]

Vietnam - Russia agreed to expand cooperation in energy and oil and gas, creating conditions for the implementation of joint projects
01/12/2021

Vietnam - Russia affirmed to create favorable conditions for the expansion of activities of Vietnamese oil and gas enterprises in Russia and Russian oil and gas enterprises in Vietnam's continental shelf, as well as the implementation of joint projects in other countries. Tuesday.
Within the framework of his official visit to Russia, on the afternoon of November 30 in Moscow, State President Nguyen Xuan Phuc had talks with Russian President Vladimir Putin, according to the VNA.

One of the notable highlights in the Joint Statement on the Vision of the Comprehensive Strategic Partnership between Vietnam and Russia until 2030 is that the two sides consider economic cooperation an important pillar of the strategic partnership. comprehensive, will make efforts to further expand cooperation.

To achieve that goal, Vietnam and Russia affirmed their readiness to carry out specific tasks.

Vietnam and Russia agreed to strengthen economic cooperation, expand activities in the fields of energy and oil and gas - Photo 1.



State President Nguyen Xuan Phuc holds talks with Russian President Vladimir Putin. (Photo: VNA).

Both sides agreed to continue effectively implementing the Free Trade Agreement between Vietnam and the Eurasian Economic Union, as well as create more favorable conditions for bilateral trade and investment, in order to create a strong breakthrough. on these important areas of cooperation.

The two countries strengthen cooperation in the fields of energy and oil and gas, which is the leading important pillar of the Comprehensive Strategic Partnership, supporting the expansion of cooperation in promising areas such as power plant construction. gas, supplying liquefied natural gas to Vietnam and building appropriate infrastructure, developing renewable energy, producing motor fuels, as well as modernizing energy facilities.

Vietnam and Russia also support the implementation of existing or new projects with the participation of the Vietnam Oil and Gas Group and the companies Zarubezhneft, Gazprom, Novatek and Rosatom, as well as other companies, including for power projects using liquefied petroleum gas in Vietnam.

The two sides affirmed to create favorable conditions for the expansion of activities of Vietnamese oil and gas enterprises in the Russian Federation and Russian oil and gas enterprises in Vietnam's continental shelf, as well as the implementation of joint projects in other countries. thirdly, in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea and the laws of Vietnam and Russia.

In addition, Vietnam - Russia will also strengthen industrial cooperation, including deploying in Vietnam production and assembly facilities for motor transport vehicles of Russia and gradually localizing production. At the same time, strengthen cooperation in agriculture and forestry in order to take advantage of the strengths of both countries and promote trade in agricultural, aquatic and seafood products.

Việt - Nga thống nhất mở rộng hợp tác năng lượng và dầu khí, tạo điều kiện triển khai các dự án chung

Việt Nam - Nga khẳng định tạo điều kiện thuận lợi cho việc mở rộng hoạt động của doanh nghiệp dầu khí Việt Nam tại Nga và doanh nghiệp dầu khí Nga tại thềm lục địa Việt Nam, cũng như triển khai các dự án chung tại các nước thứ ba.

vietnambiz.vn

 

[Viva_vietnamm]

The space for economic cooperation between Vietnam and Russia is still very large
- 02/12/20210

On the occasion of State President Nguyen Xuan Phuc's official visit to Russia, on the afternoon of December 1, at local time, the President attended and spoke at the Vietnam - Russia business seminar.
Attending the event were Mr. Alexander Shokhin, Chairman of the Federation of Russian Industry and Entrepreneurs and 80 enterprises of the two countries. At the seminar, Mr. Shokhin said that Russian and Vietnamese businesses need to exploit the strengths of the Free Trade Agreement between Vietnam and the Eurasian Economic Union, because this is the first agreement that the alliance has signed. signed with the outside. Mr. Shokhin expressed his pleasure that the joint statement of the two countries during this visit by President Nguyen Xuan Phuc emphasized economic cooperation; opening a new door for businesses of the two countries. Mr. Alexander Shokhin also said that Russian businesses are very interested in investing in Vietnam, especially taking advantage of the free trade agreement that Vietnam has signed with the Eurasian Economic Union.

President Nguyen Xuan Phuc witnessed the signing ceremony of a memorandum of understanding on cooperation between businesses of the two countries

TTX VIETNAM

Russian businesses should strengthen research on the Vietnamese market
Welcoming many Vietnamese and Russian businesses present at the seminar, President Nguyen Xuan Phuc informed businesses of the two countries about the good results of the meeting with President Vladimir Putin, opening up many cooperation contents. in many fields, especially economy and trade, in the context that Vietnam continues to develop, growth can reach 4.5% this year despite the Covid-19 epidemic; total import-export turnover reached about 600 billion USD, continuous trade surplus, low inflation. Vietnam is the third largest economy in ASEAN, participating in 15 free trade agreements with many high-standard agreements, investing in Vietnam, Russian businesses have the opportunity to penetrate into markets. very vast.

According to the international assessment, Vietnam is one of the 20 countries in the world to attract investment most successfully. Among 140 countries and territories investing in Vietnam, Russian investment in Vietnam is still low while Russia's potential is very large. Therefore, in the context that the Covid-19 epidemic is well controlled in Vietnam, the President suggested that Russian businesses with the Government's support and interest increase research on the Vietnamese market, and vice versa. Vietnamese enterprises study the Russian market for better cooperation and exchange results.

Precious bricks contribute to friendship
The State President said that the cooperation space of each economic sector is still very large. Vietnam can continue to import wheat or pork, but it needs to boost exports of agricultural, food and other products that Vietnam can produce. Because Russia has a large area, but agricultural exports only reach 30 billion USD per year, while Vietnam exports 45 billion USD of agricultural products, it is possible to promote cooperation in this field.

Deputy Prime Minister Le Van Thanh works with Deputy Prime Minister of Russia

Within the framework of President Nguyen Xuan Phuc's official visit to Russia, on the afternoon of December 1, at the headquarters of the Russian government, Deputy Prime Minister Le Van Thanh had a meeting with Russian Deputy Prime Minister Dmitry Chernyshenko.

At the meeting, the two deputy prime ministers affirmed that they would make every effort to direct the ministries and sectors to focus on implementing the minutes of the meeting, promoting the effectiveness of the Intergovernmental Committee cooperation mechanism, which focuses on the following issues: spearhead and traditional fields such as energy, oil and gas, trade, investment, science - technology... as well as expanding cooperation to new potential fields such as clean energy, health care, That includes the prevention of Covid-19.

After the meeting, Deputy Prime Minister Le Van Thanh and Deputy Prime Minister Chernyshenko witnessed the signing of a number of cooperation documents between the two countries in the fields of energy, oil and gas, culture and health.

Không gian hợp tác kinh tế Việt Nam - Nga còn rất lớn

Nhân chuyến thăm chính thức Nga của Chủ tịch nước Nguyễn Xuân Phúc , chiều 1.12 theo giờ địa phương, Chủ tịch nước đã dự và phát biểu tại Tọa đàm doanh nghiệp Việt - Nga.

thanhnien.vn

 

[EastseaQ77]

The route is expected to make a turning point in the process of building a green mass transit network.

The first electric bus service route of Hanoi’s mass transit network started rolling, marking a milestone of the city and Vingroup in contribution to reducing greenhouse gas emissions in traffic.

The first electric bus line is underway in Hanoi. Photo: VinBus

Speaking at the opening ceremony, Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen on December 2 said the route is a highlight of the capital city’s urban transport in 2021, creating a turning point in the process of building a green mass transit network.
The fare policy applied by VinBus Ecology Transport Service is the same as diesel or gasoline bus lines with ticket prices ranging from VND7,000 (US$0.3)-VND9,000 ($0.4) depending on the distance traveled. The monthly pass is between VND55,000 ($2.4) and VND200,000 ($8.7).
The elderly, people with meritorious services, people with disabilities, children under six years old, and poor households are entitled to use the service free.
Passengers can register and buy a monthly pass online on the website vedientu.vinbus.vn or VinID app.
Le Khac Hiep, Vice Chairman of Vingroup, said VinBus operates as a non-profit organization with the goal of contributing to the construction of a modern and environmentally friendly public transport network.
“In 2022, we continue to open more electric bus lines to connect with the municipal mass transit network with the aim of serving a larger number of people,” he said.
The operating frequency of the electric bus routes is 15-20 minutes, from 5am to 9pm daily.
The first electric bus line No. E03 runs through central roads, connecting the East and the West of the city with 15 stops.
VinBus will this month deploy two electric bus routes with the No. E05 from Long Bien to Smart City Urban Areaand No. E01 from My Dinh Bus Station to Ocean Park Urban Area.
VinBus also put into operation Smart City Depot located at Vinhomes Smart City Urban Area, in Nam Tu Liem District, starting from December 2. This is the 3rd depot in the system of VinBus with a total area of 14,500 m2.

First electric bus route opened in the capital city

hanoitimes.vn

 

[Viva_vietnamm]

LEGO Group to build new US$1 billion factory in Việt Nam​

Update: December, 09/2021 - 12:54
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Vietnamese Deputy Prime Minister Phạm Bình Minh and Danish Ambassador to Việt Nam Kim Hojlund Christensen witnessed the signing ceremony. — Photo vgp.vn
HÀ NỘI — The Danish toy production company LEGO Group on December 8 signed a memorandum of understanding with the Vietnam–Singapore Industrial Park Joint Stock Company (VSIP) on the building of a new plant in southern Bình Dương Province.
Addressing the signing ceremony, Danish Ambassador to Việt Nam Kim Højlund Christensen said it was the largest investment in Việt Nam ever made by a Danish company, showing the confidence and optimism of Danish investors in the future of the important Denmark-Việt Nam partnership.
The LEGO Group will invest more than US$1 million in the construction of its first-ever carbon neutral factory, including investment in solar energy on a 44-hectare site in Bình Dương, hoping to generate 4,000 jobs in the next 15 years.
The construction is scheduled for the second half of 2022, and the plant will go into operation two years later.
According to LEGO, the factory will be its sixth manufacturing site in the world and the second in Asia.

A LEGO store. — Photo zingnews.vn
LEGO’s decision to build its plant in Việt Nam was attributed to the Vietnamese Government’s plans to invest in expanding renewable energy production infrastructure and a collaborative approach to working with foreign companies who are seeking to make high-quality investments, said Chief Operations Officer of Lego Group Carsten Rasmussen.
VSIP General Director Nguyễn Phú Thịnh pledged that VSIP was committed to offering international companies high-quality investments and sustainable solutions to create attractive long-term development opportunities.
The new factory will feature solar panels on its roof and VSIP will build a nearby solar project on behalf of the LEGO Group. They will together plant 50,000 trees in Việt Nam to compensate for vegetation removed during construction. — VNS

LEGO Group to build new US$1 billion factory in Việt Nam

The LEGO Group announces plans to build a new factory in Việt Nam to support long-term growth

vietnamnews.vn

 

[Viva_vietnamm]

Vingroup starts construction on EV Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh)​

12.12.2021 Nguyễn Hải

December 12, 2021 – The People’s Committee of Ha Tinh Province and Vingroup officially began construction of the VinES Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh). The facility is backed by VND 4,000 billion (nearly 173.7 million USD) in investments and is being developed on 8 hectares in its initial phase. The establishment of this factory represents an important milestone in VinFast’s strategy of self-production and supply of batteries with global standards for its electric vehicles.​

The VinES Battery Manufacturing Factory will provide Lithium batteries for VinFast’s electric cars and buses. In Phase One, the factory will scale 8 hectares, funded by a total investment of more than VND 4,000 billion. The entire infrastructure of the factory, including a casting shop, a welding shop, and a packaging (battery pack) shop, is designed to produce 100,000 battery packs per year. Phase Two of the factory will expand production to include battery cells manufacturing and upgrade capacity to 1 million battery packs per year.
This very first and most advanced battery plant in Vietnam will be equipped with European and American-standard technologies that boast an astounding workflow automation rate of 80%. Vingroup is also working with strategic partners, include world’s leading companies in pioneering technologies for the production of electric vehicle batteries.
Speaking at the groundbreaking ceremony, Mr. Nguyen Viet Quang, Vice President & CEO of Vingroup noted: "The research and construction of this battery manufacturing factory in the Vung Ang Economic Zone reflect our efforts to establish a clean energy ecosystem that contributes to the localization of VinFast’s supply. Furthermore, we have been promoting collaboration with many prestigious partners around the world, including firms in the US, Israel, Taiwan, China and more, to research, develop and apply cutting-edge battery technologies such as super-fast charging, 100% solid-state batteries and highly advanced battery materials."
The construction of the VinES Battery Manufacturing Factory marks a significant step in implementing Vingroup’s "three-pillars" battery strategy, including procuring batteries from the world’s top manufacturers, collaborating with partners to produce the world's best batteries and conducting in-house research and development for battery production.
This is a key strategy in VinFast’s goal of becoming a global smart electric vehicle company. With this, VinFast will be able to provide a wide range of batteries that are suitable for each of its electric vehicle lines, fulfill growing demands in the Vietnamese and global markets. The importance of this battery factory in VinFast’s global expansion plan is especially significant given its recent introduction of two electric car models, the VF e35 and VF e36, at the Los Angeles Auto Show last November.
According to Ms. Thai Thi Thanh Hai, Vice Chairwoman of Vingroup and Vice-Chair of Board of Members of VinFast, "This is in the focus of VinFast’s localization strategy of supply. The strategy enables us to own our supply chain of batteries and parts and to keep VinFast at the forefront of battery technology innovation. This, in turn, helps us provide high-quality products at reasonable prices and drive the movement of the global smart electric vehicle revolution.”
Once operational, the project is expected to attract thousands of domestic and foreign workers and contribute to accelerating industrial production in Ha Tinh Province.

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About Vingroup
Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of 35 billion USD from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology, Industry, and Services. Find out more at: https://www.vingroup.net/en.

About VinFast
VinFast - a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution . Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.
VinFast has announced three electric car models, exceptional battery leasing policies, and industry-leading 10-year warranties. In July 2021, VinFast started expanding to the North American and European markets. Two of its smart electric SUV models – VF e35 and VF e36, are expected to be available for pre-orders globally in the first half of 2022. Find out more at: https://vinfastauto.com.

About VinES
VinES Energy Solutions specializes in researching, developing and manufacturing batteries for electric vehicles. In particular, VinES has research institutes for manufacturing lithium-ion battery cells to serve the production of electric vehicle batteries. VinES cooperates with many world’s leading battery cell manufacturers and is investing in a modern testing center to evaluate product quality according to European and American standards.

Vingroup starts construction on EV Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh) | VinFast

December 12, 2021 – The People’s Committee of Ha Tinh Province and Vingroup officially began construction of the VinES Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh). The facility is backed by VND 4,000 billion (nearly 173.7 million USD) in investments and is being...

vinfastauto.com

 

[Viva_vietnamm]

Korea increases rubber imports from Vietnam market

08:25 | December 15, 2021EmailPrint 10 months of 2021, Vietnam's rubber exports to South Korea increased by 57.8% in volume and 95.2% in value over the same period in 2020. Vietnam's rubber market share in Korea's total imports increased.
Statistics from the General Department of Customs show that in the 10 months of 2021, Vietnam's rubber exports to South Korea reached 37.62 thousand tons, worth US$68.87 million, up 57.8% in volume and increased 95.2% in value over the same period in 2020; the average export price reached 1,831 USD/ton, up 23.7% over the same period in 2020.


In the first 10 months of 2021, Vietnam's rubber exports to South Korea reached 37.62 thousand tons, worth US$68.87 million, up 57.8% in volume and 95.2% in value over the same period last year. 2020
In which, SVR 10 type is exported the most to Korea, accounting for 25.6% of total rubber exported to Korea in the first 10 months of 2021, with 9.62 thousand tons, worth 16.01 million USD. , an increase of 68.5% in volume and 109.7 % in value over the same period in 2020; the average export price reached 1,665 USD/ton, up 24.5%.

According to the Korean Customs, currently, Indonesia, Thailand, China, Vietnam and the United States are the 5 largest markets supplying rubber to Korea and imports from these markets have increased over the same period. 2020.

In the first 10 months of 2021, Vietnam is the 4th largest rubber supplier market. Vietnam's rubber market share accounts for 7.8% of Korea's total rubber imports, up from 6.8% in 10 months of 2020.

Regarding types, in the first 10 months of 2021, Vietnam is the third largest supplier of natural rubber to South Korea, with 35.73 thousand tons, worth $68.35 million, up 33.6% in volume. and increased by 70.8% in value over the same period in 2020. Vietnam's natural rubber market share in Korea's total imports accounted for 12.3%, up from 10.6% in 10 months of May. 2020.

The structure of the market for synthetic rubber to Korea in the first 10 months of 2021 has changed when the market shares of synthetic rubber of the United States and China increased, while the market shares of Japan, Singapore, and the Czech Republic increased. reduction. Vietnam's synthetic rubber only accounts for 0.08% of the total imported synthetic rubber of Korea.

Hàn Quốc tăng nhập khẩu cao su từ thị trường Việt Nam | Báo Công Thương

10 tháng năm 2021, xuất khẩu cao su của Việt Nam sang Hàn Quốc tăng 57,8% về lượng và tăng 95,2% về trị giá so với cùng kỳ năm 2020. Thị phần cao su của Việt Nam trong tổng lượng nhập khẩu của Hàn Quốc tăng.

congthuong.vn