A worker of Đình Vũ Polyester Fibre Plant in the northern port city of Hải Phòng. The depreciation of Chinese yuan against the US dollar brings more difficulties to Việt Nam’s yarn industry. Photo tapchicongthuong.vn HÀ NỘI – The sudden depreciation of Chinese yuan against the US dollar brings more difficulties to Việt Nam’s yarn industry, according to Việt Nam Textile and Apparel Association. … [Read more...] about Yuan price reduction affects on local industry: experts
Local industry
United States engages local industry leaders to promote U.S. Vietnam aviation cooperation
(VEN) - The United States hosted a workshop in Ho Chi Minh City on April 18 focused on U.S.-Vietnam cooperation in Vietnam’s airport infrastructure development. More than 80 public and private sector representatives from both countries discussed opportunities and areas for collaboration as the two countries prepare for direct flights. In Vietnam, the U.S. Government will advance bilateral cooperation through its Indo-Pacific Strategy, capitalizing on the tremendous opportunity to collaborate with Vietnam, while strengthening Vietnam’s airport infrastructure with modern technologies that are efficient, secure, and uphold international standards. This workshop built on the momentum created by the Federal Aviation Administration’s announcement to grant Vietnam Category 1 status two months ago as well as aviation sector commercial contracts signed during President Trump’s visit to Hanoi in late February. Leaders from Astrophysics, Bechtel Enterprises, Collins … [Read more...] about United States engages local industry leaders to promote U.S. Vietnam aviation cooperation
Soai Rap Petroleum Service Industrial Zone to be revoked
PetroVietnam Construction Joint Stock Corporation (PVC) will have its Soai Rap Petroleum Service Industrial Zone revoked due to operation inefficiencies and low occupancy rates. Soai Rap Petroleum Service Industrial Zone to be revoked Deputy Prime Minister Trinh Dinh Dung recently asked the Tien Giang People’s Committee to revoke Soai Rap Petroleum Service IZ and called on the investor to transfer the project to other investors. Besides, the DPM assigned the Ministry of Planning and Investment (MPI) and relevant authorities to monitor the revocation and transfer of the project. Covering an area of 285 hectares, the project was licensed in March 2011. However, after three years, the IZ had only one tenant. As a result, in October 2014, the government approved in principle to transfer the IZ to the Tien Giang People’s Committee to manage according to the IZ development planning by 2015, with vision to 2020. Vietnam also has 17 coastal economic zones (EZs) … [Read more...] about Soai Rap Petroleum Service Industrial Zone to be revoked
Local beauty care brands must change to compete
Walking out of a hairdressing salon on Dao Tan Street in Hanoi, 24-year-old Ms. Ngoc Linh felt quite pleased with her new curly blonde hair, despite the VND1.5 million ($65) price tag. This was the third time in the month of April she had spent money on hair care, which she would never have done two years ago. “Japanese technology and hair care products are suitable for my hair, so I’m happy to spend money on it,” she said happily. “Everything feels better.” Potential for foreign brands Vietnamese are definitely spending more on hair care. Recording healthy growth annually, Vietnam’s cosmetics industry holds great promise for foreign firms seeking to expand overseas, according to Nielsen Vietnam. While nominal growth in total personal care in traditional trade increased 1.5 per cent in 2017, compared to 5.2 per cent in 2016, the personal care category saw a boom in terms of modern trade channels, up 9.2 per cent across modern … [Read more...] about Local beauty care brands must change to compete
Bac Giang prioritises development of key industries
Inside a garment company at Dinh Tram industrial park in Bac Giang province (Photo: VNA) Bac Giang (VNA) – The northern province of Bac Giang will channel focus to promote the development of key industries like agro-forestry processing, electronics, garments, fertiliser, chemical and building materials with a view to becoming an industrial province in the future. According to Vice Director of the provincial People’s Committee Phan Van Hung, due attention will be paid to high-tech industry and support industry at industrial parks so that local products can join global value chains. Garment projects in rural areas will be prioritised to create jobs for local labourers while support industries for the garment sector will be developed to set up a production value chain. Along with investing in industrial parks and working to attract domestic and foreign investments, the province is diversifying chemical products, developing the solar energy sector and carrying out the An … [Read more...] about Bac Giang prioritises development of key industries
Vietnam to spend VND21 trillion on industrial park infrastructure
Nearly VND21 trillion (US$924 million) will be invested in the development of infrastructure for economic zones and industrial parks in Vietnam as part of a plan recently approved by Prime Minister Nguyen Xuan Phuc. The move is expected to make Vietnam's economic zones more attractive to investors The plan is designed to improve the local infrastructure in order to attract more investment into these zones by 2020. Specifically, Vietnam aims to complete 200-250 kilometers of roads and wastewater treatment facilities with a daily capacity of 13,000-14,000 cubic meters in 16 coastal economic zones, with a further 200-250 kilometres of roads and wastewater treatment capacity of 300-400 cubic meters a day for 21 border economic zones. At the same time, 80-100 kilometers of roads will be built for 30-35 local industrial clusters in disadvantaged areas. Water drainage systems, wastewater treatment facilities and power supply systems will also be built for hi-tech parks. The plan … [Read more...] about Vietnam to spend VND21 trillion on industrial park infrastructure
HCM City’s index of industrial production rises 6.05 percent
The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year. (Photo: VNA) HCM City (VNA) – The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year. The figure in March rose 42.1 percent against the previous month and 7.07 percent against the same time last year. Director of the municipal Department of Industry and Trade Pham Thanh Kien attributed the IIP growth to the city’s programmes and policies to support the development of local industry and support industry. Output of the four key industrial sectors: manufacturing, electronics, chemicals-rubber-plastic and food processing experienced a year-on-year growth of 6.79 percent thanks to market expansion, renovation of equipment as well as improvement in the products’ quality and competitive capacity. Particularly, significant hike was seen in the electronics - … [Read more...] about HCM City’s index of industrial production rises 6.05 percent
Industry
16:27 | 18/03/2018 Local Industry (VEN) - The Binh Thuan Industry Promotion Center has outlined plans to implement support projects as soon as they are approved in order to improve industry promotion. 09:14 | 13/03/2018 Local Industry (VEN) - The Thai Binh Department of Industry and Trade has adopted measures designed to facilitate the development of the province’s industrial clusters (ICs), which is being hindered by lack of infrastructure investment and inefficient land use. Thai Nguyen promotes rural industrial development 10:23 | 07/01/2018 Local Industry (VEN) - From tea preservation to spare parts for farming machinery, the northeastern province of Thai Nguyen has been pushing ahead with investment in technology innovation and product development in a bid to become an established rural industrial hub by 2020. Thai Binh Province focuses on IZ development 10:16 | 02/01/2018 Local Industry (VEN) - Although it is a predominantly agricultural province, … [Read more...] about Industry
Hanoi to develop 80 key industrial products by 2020
The municipal People’s Committee has adopted a plan to develop the city’s key industrial products until 2020 with a vision to 2030, which outlines the objectives and strategies for the development of local industries. By 2020, the capital city is targeting average growth of 9-10% for the 2018-2020 period and export turnover of 12-14% of the total import-export value. To this end, the city will work to improve the capacity of enterprises and develop zones for support services for start-up businesses in line with incubators for support industry firms. … [Read more...] about Hanoi to develop 80 key industrial products by 2020
ATIGA regulation worries local sugar manufacturers
The implementation of tariff reduction to zero per cent under the ASEAN Trade in Goods Agreement (ATIGA) from January 1, is an obsession with the Vietnamese sugar industry. This is because the sugar industry is facing a flood of imported goods entering the domestic market. Industry insiders stated that the sugar industry is predicted to perform poorly in the 2018-19 period, as locally-refined sugar will have to compete with sugar from Thailand while the local industry has not yet improved its competitiveness. Several sugar processing factories were closed while farmers turned their backs on growing sugarcane. To rescue the industry, the sugarcane sector needs to solve existing problems as soon as possible. Difficulties The difficulties facing the sugarcane industry were cleared at the end of 2017 when the new season began, and enterprises still had high levels of inventory. Although the market price was at its lowest at over VND12,000 per kilogramme, producers still failed to sell. At … [Read more...] about ATIGA regulation worries local sugar manufacturers