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There were mixed fortunes across sectors, with processing and manufacturing witnessing an increase of 7.8 percent, electricity distribution and production 5.8 percent, and sewage disposal 5.7 percent, while mining fell 9.8 percent. Most of the processing and manufacturing industries posted higher IIPs compared to the same time in 2020, including electronic products, computers and optical products (37.7 percent), motor vehicles (17.5 percent), electrical equipment (16.5 percent), and beverages (14.3 percent). The IIP in February was down 23.2 percent against January and 11.4 percent year-on-year due to the seven-day break for the traditional Lunar New Year (Tet) holiday. Since production time was reduced by one-third, processing and manufacturing - responsible for a large proportion of domestic industrial production - reported a year-on-year decline of 12.4 percent in its IIP while electricity distribution and production, sewage disposal, and mining fell 13.9 percent, 1.6 percent, … [Read more...] about Hanoi’s industrial production jumps 7.5 percent

Commitments in the EU - Vietnam Free Trade Agreement (EVFTA) regarding tax reduction for Vietnamese and Slovenian products will help the two countries expand the market share in each other country as well as other EU markets, thus motivating bilateral trade growth, Phu said. He underlined the need for both sides to increase trade exchange activities right after COVID-19 is controlled globally, and make full use of benefits from the EVFTA by abiding by regulations on origin. He stressed that the Trade Promotion Agency is willing to coordinate and create optimal conditions for businesses of both sides to explore effective and long-term partnership opportunities. Phu said that the EVFTA has been opening up door for Vietnam to promote economic cooperation with many markets in the world, including Slovenia. The EU is now one of the leading trade partners of Vietnam with two-way trade reaching 49.6 billion USD in 2020, with Vietnam’s exports of 34.9 billion USD. This year, the deal … [Read more...] about Vietnam, Slovenia eye cooperation potential in mechanical engineering

Foreign ship arrivals down 6 percent in first two months Vietnam’s sea ports have berthed some 4,900 foreign vessels over the last two months, a decline of 6 percent year-on-year, according to the Vietnam Marine Administration. The fall was due largely to the impact of COVID-19, which is resulting in major fluctuations in the transport sector, a representative of the administration said. Despite the lower number of foreign ships, the volume of import and export goods through ports grew. In January and February, 35.3 million tonnes of imports and 26 million tonnes of exports were handled at ports nationwide. The former represented an annual increase of 14 percent while the latter was as same as that last year. In particular, nearly 1.3 million TEUs for exports and 1.2 million for imports were handled during the period, up 32 and 16 percent, respectively, year-on-year; the highest growth since the pandemic began. Meanwhile, the arrival of domestic vessels totalled … [Read more...] about VIETNAM BUSINESS NEWS MARCH 3

* Indian government ministers and officials were following Prime Minister Narendra Modi's lead by opting for an Indian-made vaccine instead of the AstraZeneca one. * Thailand may celebrate its traditional new year Songkran as usual around mid-April, Culture Minister Itthiphol Khunpluem said Wednesday. * China's annual coal output will stand at no higher than 4.1 billion tonnes by the end of the 14th Five-Year Plan period (2021-2025), after it climbed 1.4 percent year on year to 3.9 billion tonnes in 2020, said a report issued by the China National Coal Association on Wednesday. * President Joe Biden said on Tuesday the United States would have enough COVID-19 vaccine for every American adult by the end of May. * The European Union aims to increase the region's COVID-19 vaccine production capacity to 2-3 billion doses per year by the end of 2021, Industry Commissioner Thierry Breton was quoted as saying. * German Chancellor Angela Merkel was expected on Wednesday to agree a … [Read more...] about World News in Brief: March 3

The Hanoitimes - Suspension of flights between Vietnam and China leads to potential losses of 400,000 passengers per month and VND10 trillion (US$430 million) in revenue for Vietnamese airlines. Vietnamese airlines served 870,000 foreign passengers in February, a decline of 39.5% year-on-year, while the suspension of flight routes between Vietnam and China could lead to a potential loss of over VND10 trillion (US$430 million) in revenue for the aviation industry. Illustratiave photo. In total, local airlines served 3.7 million passengers in February, down 13.7% year-on-year, including 870,000 foreign and 2.8 million domestic passengers, down 0.7%, data from the Civil Aviation Authority of Vietnam (CAAV) revealed. Additionally, the number of passengers arriving at Vietnamese airports reached 8.1 million in February, down 11.6% year-on-year, including 2.4 millions of foreign passengers, down 29.8% and 5.7 million domestic passengers, falling by 0.7%. On … [Read more...] about Covid-19 pushes Vietnam’s aviation industry to the limit