Industry outlook

This is the third time that VABA has made the since the beginning of 2020 when international and domestic travel restrictions due to the Covid-19 pandemic laid the industry low. It also wants the government to roll over airlines’ loans to the end of 2024 and reduce airport charges like landing fees. VABA wants the resumption of flights to places that have contained Covid-19 like Australia, India, China, South Korea, Japan, and Europe. It urged the Ministry of Transport to run programs to stimulate domestic tourism. Tran Bao Ngoc, head of the ministry’s transport department, agreed that the aviation industry needs support to come out of its slump, and promised to consider VABA’s demands and take up those outside its purview like rolling over loans with the government. Aviation was among the worst hit sectors in 2020. The number of air passengers declined by 43 percent to 66 million, while cargo transport was 15 percent down at 1.3 million tons. Landing and other ground … [Read more...] about Beleaguered airline industry asks government for loan of $1.17 bln

A factory of Sumi-Hanel Wiring Systems Company at Sai Dong B Industrial Park in Hanoi (Photo: VNA) Hanoi (VNA) - Hanoi authorities have requested that the management board of local industrial parks (IPs) inspect all IPs and make appropriate development recommendations in line with the capital’s planning, Nguyen Manh Quyen, Vice Chairman of the municipal People’s Committee, has said. Planning is the top priority that determines the effective development of these parks, he underscored. The city is home to nine operating industrial parks (IPs), which together cover 1,369 ha and post an occupancy rate of 95 percent. There are also two other IPs undergoing infrastructure adjustments , four calling for investment, and one that has had its investment licence revoked. IPs in the capital attracted a total of about 118.2 million USD in investment last year, fulfilling just 30 percent of the target and representing only 34 percent of the figure recorded in 2019. 2020 revenue … [Read more...] about Planning key to effective performance of industrial parks in Hanoi

According to at least one recent survey, very few people are actually concerned that their jobs are under threat from further automation. Photo: Shutterstock As businesses and governments in Vietnam scramble to recover from the pandemic, digital transformation is more crucial than ever. The world of work and employment markets have been going through a profound shift to virtual, from remote working, webinars, online advertising, and entertainment to e-payments. Adrien Bizouard, country manager of Robert Walters Vietnam, said that industries that have taken the lead in digital transformation include financial services and insurance companies, largely driven by the penetration of fintech companies. Fast-moving and standard consumer goods are the next sectors where companies will implement e-commerce platforms or introduce omnichannel transformation, using both online and offline channels. An example would be Decathlon, a sports company which first opened online retail in Vietnam … [Read more...] about Employment opportunities fit for the Industry 4.0 era

According to data released by the United States International Trade Commission, during the opening 11 months of last year, the US’ imports for wooden furniture endured a decline of 0.6% to US$16.8 billion compared to the same period from 2019. Vietnam remained as the largest supplier of wooden furniture to the United States throughout the reviewed period, with the export turnover reaching US$6.26 billion, a rise of 30.9% on-year. The proportion of imports from the country accounts for 37.2% of the total import value, up 9% compared to last year’s corresponding period. Most notably, Vietnam is the largest market for bedroom furniture for the US, making up 49.7% of the US’ total import value, followed by Malaysia, China, and Indonesia. Nguyen Liem, chairman of Lam Viet Joint Stock Company, attributed this increase in US demand for wooden furniture to the impact of the novel coronavirus (COVID-19) pandemic as it has forced many Americans to remain indoors and focus on activities … [Read more...] about Local wood industry to capitalise on export opportunities to US

The factory's ground breaking ceremony. — VNA/VNS Photo Duc Hoanh The Happytex Joint Stock Company began construction on Thursday of a US$15 million textile factory at the Trang Bang Industrial Park in the southern province of Tay Ninh. Covering an area of 25,000sq.m, the factory is designed to produce 2,000 tonnes of woven fabric each year for export. Construction is scheduled for completion in six months. According to the Management Board of Economic Zones of Tay Ninh, since the beginning of this year local industrial parks and economic zones have attracted four projects, including three foreign-invested projects worth $373.12 million USD. As of February, the province had attracted 364 investment projects, including 265 FDI and 99 domestically-invested projects with combined capital of over $8.3 billion, creating jobs for nearly 34,000 workers, it said. — VNS … [Read more...] about Work on $15-million textile factory underway in Tay Ninh