MoIT celebrates soaring export turnover in 2018 The $245 billion in total export turnover and 29 export categories exceeding the $1 billion threshold are touted as a major success for the Ministry of Industry and Trade (MoIT). The rosy export picture was highlighted as one of the achievements of the MoIT in 2018 at the review meeting held on January 17. Notably, last year, Vietnam’s total export turnover reached $245 billion, up 13.8 per cent on-year and exceeding the target set by the National Assembly and the government. 29 goods categories reached $1 billion in turnover, with five categories hitting $5 billion and five others $10 billion. Vietnam’s export markets expanded and now Vietnamese goods are present in almost all markets of the world. Numerous goods categories have set a solid foothold in key markets, including Europe, the US, Japan, and Australia. Especially, Vietnam saw an increase in export turnover in markets it signed free trade … [Read more...] about BUSINESS NEWS IN BRIEF 23/1
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BUSINESS NEWS IN BRIEF 17/1
Vietnamese goods campaign promote local firms’ development A trade promotion fair to connect firms in Hà Nội and other localities. — Photo kinhtedothi.vn A campaign urging local people to buy “Made-in-Viet Nam” products has helped develop businesses across the country. The Vietnamese people using Vietnamese goods campaign has played a key role in helping local enterprises, a conference held in Hà Nội on Tuesday heard. “The campaign should not be a slogan but aim to conquer Vietnamese consumers,” said deputy minister of Industry and Trade Đỗ Thắng Hải. Trương Thị Ngọc Ánh, vice chairwoman of the Việt Nam Fatherland Front Central Committee, said all of localities nationwide had worked to implement the idea. More than 100 trade promotion conferences were held last year and more than 2,000 programmes were organised to bring Vietnamese goods to rural areas. “Local … [Read more...] about BUSINESS NEWS IN BRIEF 17/1
BUSINESS NEWS IN BRIEF 14/12
ADB provides US$300m loan to BIDV to support SMEs in Viet Nam The Asian Development Bank (ADB) and Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) signed a US$300 million loan agreement on Wednesday to support the growth and productivity of small and medium-sized enterprises (SMEs) in Viet Nam. “The agreement includes a $200 million loan provided by ADB and a $100 million loan arranged by ADB from 12 commercial lenders,” BIDV Chairman Phan Duc Tu said at the signing ceremony. “This is the biggest commercial loan ADB has provided to an Asian commercial bank so far, affirming the development finance institution’s positive evaluation of Viet Nam’s stability and economic growth as well as its trust in Viet Nam’s banking operations in general and BIDV in particular.” He said the loan would support SMEs in Viet Nam and reaffirm their partnership with ADB in achieving poverty reduction, economic … [Read more...] about BUSINESS NEWS IN BRIEF 14/12
Vietnam Airlines to carry Vietnamese football team on A350-900
The Vietnamese football team at Noi Bai internationl airport on December 7 (Source: VNA) Hanoi (VNA) – National flag carrier Vietnam Airlines has announced that it will use a wide-bodied Airbus A350-900 to take the Vietnamese men’s football team from Malaysia to Hanoi on December 12, one day after the first leg of the final match between Vietnam and Malaysia in the ASEAN Football Federation (AFF) Suzuki Cup 2018. As one of the world’s most modern and advanced wide-bodied aircraft, the Airbus A350-900 has been used by Vietnam Airlines on long-haul flights to European and Northeast Asian countries since 2015, with four-star quality standards. With 305 seats in cabins of business, premium economy, and economy class, the Airbus A350-900 earned Vietnam Airlines the title of “Asia’s Leading Airline for Premium Economy Class” in 2016 and 2017 from the World Travel Awards. From December 7-11, apart from two flights per day between Hanoi, … [Read more...] about Vietnam Airlines to carry Vietnamese football team on A350-900
VNA to add some 20 A321neo aircraft
VNA to add some 20 A321neo aircraftBy Le Anh An A321neo jetliner, which Vietnam Airlines received on November 17 – PHOTO: VIETNAM AIRLINES HCMC – National flag carrier Vietnam Airlines (VNA) expects to receive an additional 20 A321neo jetliners by 2019 after receiving the first batch of A321neos on November 17. The projected addition is the next stage of the airline’s fleet renewal program following its successful switch to Boeing 787-9 and Airbus A350-900 aircraft. Airbus’ Chief Commercial Officer Christian Scherer noted that A321neo aircraft, which offer a reduction in fuel consumption of at least 15% per seat and can be combined with some 60 A321ceo aircraft, will enhance the competitiveness of VNA in the market. With the A321neo fleet, VNA is the first airline in Vietnam to offer a wireless streaming entertainment system, providing high-quality videos, films, music and more. As such, passengers using laptops, smartphones or tablets in Airplane Mode … [Read more...] about VNA to add some 20 A321neo aircraft
BUSINESS NEWS IN BRIEF 19/11
Vietnam Airlines receives first Airbus A321neo plane The national flag carrier Vietnam Airlines has received its first Airbus A321neo from US-based Aviation Capital Group (ACG) in Hamburg, Germany earlier this week. The new aircraft will be used for domestic flights and routes connecting destinations in Southeast Asia. It is among the 20 new-generation A321neo planes the airline plans to lease from the ACG, ICBC Leasing of China, and US-based Air Lease Corporation (ALC), expected to be fully delivered by the end of 2019. These planes will help expand its aircraft fleet to about 110 in 2020. Khanh T. Tran, president and CEO of ACG, expressed his delight at the delivery and stressed the company looks forward to Vietnam Airlines operating these highly fuel-efficient aircraft in their growing route network. For his part, Vietnam Airlines’ president and CEO Duong Tri Thanh said his firm selected the Airbus A321neo for its exceptional operational performance with 15-20 percent … [Read more...] about BUSINESS NEWS IN BRIEF 19/11
Now boarding: Passengers ready for world’s longest flight
Two pilots, a special "wellness" menu and more than seven weeks' worth of film and television entertainment were expected to accompany travellers on the 16,700-kilometre (10,400-mile) journey to the Big Apple. Singapore Airlines Flight SQ22 will use the long-range Airbus A350-900ULR, configured to carry 161 passengers -- 67 in business class and 94 in premium economy. For the flight crew -- which also includes two first officers and a 13-strong cabin contingent -- the work load will be broken up, the airline said, with every person getting a mandatory minimum four hours' rest. But for passengers, the challenge will be what to do with all that down time up in the air. Dining options will include dishes the airline says have been selected to promote well-being in the skies, with organic dishes on the menu. The cabin has higher-than-normal ceilings, larger windows and lighting designed to reduce jet lag -- all part of an effort to lessen the stresses that can accompany almost a day on a … [Read more...] about Now boarding: Passengers ready for world’s longest flight
BUSINESS NEWS IN BRIEF 2/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
BUSINESS IN BRIEF 4/7
Vietnam Airlines adopts QR Pay Vietnam Airlines has signed a deal with Việt Nam Payment Solution Joint Stock Company (VNPAY) – the biggest QR code payment firm in Viet Nam, to apply QR code technology for online ticket bookings. With the deal, Vietnam Airlines becomes a pioneer in Việt Nam’s aviation sector by using QR codes for online ticket booking at :vietnamairlines.com Customers will have a new, safer and more convenient way to pay for their flights. Accordingly, QR Pay will be implemented both online and at Vietnam Airlines’ official ticket office system nationwide from the beginning of this month. After successfully booking their tickets, customers will be able to use the QR code to pay without entering bank account of card information. The QR Pay system ensures safety thanks to two-factor verification including mobile banking sign in and one-time pass (OTP) through SMS or fingerprint verification. Payments via smartphones have risen in the last … [Read more...] about BUSINESS IN BRIEF 4/7
BUSINESS IN BRIEF 6/6
VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6