Top 5 business news

Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the … [Read more...] about VIETNAM BUSINESS NEWS MARCH 5

The high container shipping cost has caused difficulties for import/export companies. They believe that shipping firms joined hands to push service fees up. Phung Ngoc Sam, general director of Hanfimex, complained that the sea freight rates have been escalating rapidly since October 2020. The shipping rate for 40-feet container from Vietnam to Europe and the Mediterranean area has soared by 2-3 times and there is no sign of decrease. “It was just $2,000 in the past, but now $5,000. And it is sometimes $11,000,” he complained. The sharp rise in sea freight has made it difficult for import/export companies to execute their business plans and caused delays in export. It is estimated that 30 percent of goods planned for export have been stagnant. If the situation cannot be improved, this will push the cost of goods up. The buyers, who cannot release goods to the market, may put pressure on Vietnam’s import/export companies. According to Phan Thong, secretary general of the … [Read more...] about Goods owners say shipping freight costs are far too high

HCM City: early start proposed for over VND4.8 trillion traffic project Traffic congestion on Cong Hoa road The Ho Chi Minh City management board for traffic works construction and investment has urged early completion of paperwork for construction on a road linking Tran Quoc Hoan and Cong Hoa roads to begin in December. Costing more than 4.84 trillion VND (211.2 million USD), the project is slated to complete in July 2023, in conjunction with the completion of the Tan Son Nhat international airport’s Terminal 3 The project, approved in December 2019, includes the building of a six-lane 4km road, an intersection tunnel, and a 1,200m overpass in front of the Terminal 3. Apart from the project, the city also conducting procedures to implement the expansion of Hoang Hoa Tham road and upgrading of Cong Hoa road around the Tan Son Nhat airport. The construction of both projects was initially set to begin in 2020 but it was delayed due to problems in site clearance./. … [Read more...] about VIETNAM NEWS HEADLINES MARCH 4

Many elderly people join 2nd stage of Nano Covax vaccine trials A total of 367 volunteers, including 30 aged over 60, have been injected with Nano Covax, Vietnam’s first homegrown COVID-19 vaccine candidate, in the second phase of its human trials, according to the Military Medical University. The second stage has been conducted by the university and the Ho Chi Minh City-based Pasteur Institute since February 26. It has been carried out at the university in Hanoi and the medical centre of Ben Luc district in the southern province of Long An, with the participation of 560 volunteers aged from 12-75, including 80 aged over 60. They will receive two doses of either the vaccine or the placebo AIPO4, with an interval of 28 days. Each volunteer will be monitored for 12 months after the first dose. Volunteers receiving shots on the morning of February 26 will receive the second doses in late March. Lieutenant-General Do Quyet, Director of the Military Medical University, said since … [Read more...] about VIETNAM NEWS HEADLINES MARCH 5 (updated hourly)

Check out news you should not miss today: Society — Vietnam on Saturday morning reported seven new cases of COVID-19, including six locally-transmitted cases in the northern province of Hai Duong and one imported in the northern province of Thai Nguyen, increasing the country’s tally to 2,501, according to the Ministry of Health. — A total of 367 volunteers including 30 aged over 60 have been injected with Nano Covax, Vietnam’s first homegrown COVID-19 vaccine candidate, in the second phase of its human trials, according to the Military Medical University, the Vietnam News Agency reported on Friday. — Ho Chi Minh City's Department of Planning and Investment is seeking approval from the municipal People's Council for a project to dredge, build infrastructure, and improve local environment along the 8.2km long Xuyen Tam canal which flows through Binh Thanh and Go Vap Districts with a total investment of VND9,352 billion (US$405 million). — Many streets in Hanoi on Friday … [Read more...] about Breakfast @ Tuoi Tre News — March 6