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Demand: Viet Nam cement market saw the light of recovery thanks to clinker exports As stated in StoxPlus Cement Market Report 2018, the Viet Nam cement and clinker sales volume reached 80.3 million tonnes in 2017, posting an increasing growth rate for three years in a row. Although the domestic consumption contributed to more than 70 per cent of the total sales for several years, the recent years have witnessed a sluggish growth rate from 9.5 per cent (2015) to 1.4 per cent (2017). While domestic consumption sustained its growth, the export activity drove the market with the export volume surging up to 19.7 million tonnes, leading to a robust growth of 27.7 per cent year on year, thanks to the increasing demand from key markets, including Bangladesh and the Philippines. Additionally, China emerged as a potential export market as the Chinese government has implemented an unprecedented pollution crackdown in November 2017, with the country shutting down tens of thousands of cement … [Read more...] about StoxPlus: Cement industry to recover through robust export activities
Trends construction industry
Construction firms to focus on partner rating system
Viet Nam News HÀ NỘI — Partner rating is a necessary and significant step, directly improving the quality of construction, and indirectly helping to improve the capacity, responsibility and professionalism of enterprises. The statement was made by Ngô Hữu Tiệp, chairman of GIZA Engineering and Construction JSC (Giza E&C) at a conference held in Hà Nội on Monday. Contractors participating in construction are important factors contributing to the success of projects. The ability of partners, especially sub-contractors, as well as the co-ordination between contractors and sub-contractors, has a direct impact on the progress and quality of implementing project, followed by the prestige of the general contractor. Understanding the role of sub-contractors, construction workers and suppliers in the value chain of the construction industry, Giza E&C has researched and issued a partner rating system to help improve the contractor’s … [Read more...] about Construction firms to focus on partner rating system
Solar industry shining bright
Six years after announcing it was leaving Vietnam and then unsuccessfully tried to sell all the assets and facilities at its Ho Chi Minh City-based solar equipment manufacturing project, First Solar last year suddenly declared it planned to return to the country and the city. It set about recruiting large numbers of human resources in mid-January and then held a ceremony to take delivery of the initial equipment needed for producing its latest, high-tech Series 6 photovoltaic (PV) modules in the city’s Dong Nam Industrial Park, where it first operated. Old stamping ground First Solar was initially licensed in early 2011 to invest in a PV module manufacturing project with total investment of $1.2 billion at Dong Nam. Just a few months after getting the project underway, however, it then announced it was suspending operations due to an imbalance between global supply and demand for solar panels. It authorized Cushman & Wakefield to sell all of its facilities in … [Read more...] about Solar industry shining bright
Industry goals for the coming years
Việt Nam’s industry will contribute 40 per cent to the national GDP by 2030, according to a newly issued resolution.– Photo chinhphu.vn HÀ NỘI – Việt Nam’s industry will contribute 40 per cent to the national GDP by 2030, according to a newly issued resolution. Under Resolution 23-NQ/TW to develop the national industry until 2030, with a vision up to 2045, issued recently by the Politburo, the processing and manufacturing industries will make up some 30 per cent. The value of high-tech processing and manufacturing products is targeted to reach at least 45 per cent, while industrial labour productivity will increase by 7.5 per cent on average annually. The industrial growth rate will average over 8.5 per cent, of which the processing and manufacturing industry will see a rise of 10 per cent yearly. The resolution also sets the country’s competitive industrial performance index among the top three countries in the ASEAN, … [Read more...] about Industry goals for the coming years
Growth boosts demand for industrial land
Demand for industrial land around the country is expected to increase thanks to significant growth in terms of both industrial production and FDI. Last year the city’s index of industrial production grew by 7.9 per cent while Ha Noi’s expanded by 7.1 per cent. FDI flows into HCM City topped $6.3 billion while for Ha Noi they were worth $2.4 billion, a national year-on-year increase of 22.5 per cent, and most foreign and domestic investors are seeking to expand production. At HCM City IPs, according to real estate service consultant Colliers International, at the end of 2017 the average annual rent was $142.2 per square metre, an increase of 0.9 per cent from the previous year. HCM City now has 20 operating IPs with a total area of 3,025 hectares. Cu Chi District has the largest number of industrial parks totally measuring 863 hectares, but the price is lowest there at $80 -90 per square metre. By 2025 it is expected that more 2,300ha in eight new industrial parks will come … [Read more...] about Growth boosts demand for industrial land
Solar power construction takes off in Vietnam after nuclear plans scrapped
Vietnam is accelerating the construction of solar power plants to make up for an anticipated power shortfall due to the recent cancellation of several nuclear power projects. Thien Tan Group plans to build five large solar power plants in the southern province of Ninh Thuan at a cost of $2 billion by 2020. A 50-megawatt plant will start operating this year, followed by four plants generating 200-300MW each, according to Nikkei Asian Review. TTC Group, a sugar, energy, real estate and tourism conglomerate, also plans to spend up to $1 billion on solar projects to meet the increasing domestic demand for power. “Vietnam always needs more power every year for its expanding economy,” CEO Thai Van Chuyen told Bloomberg in a report. “The recent pricing set by the government is reasonable, development costs are much cheaper and coal-fired power plants have caused so many concerns,” he said. The Ho Chi Minh City-based company wants to build 10 to 20 solar parks that … [Read more...] about Solar power construction takes off in Vietnam after nuclear plans scrapped
Banking Industry before 4th Industrial Revolution: Plentiful Opportunities, Abundant Challenges
Despite staying out of the list of nine sectors hardest hit by the Fourth Industrial Revolution, the banking industry, typically at the forefront of information technology application, will not stand out of the whirlwind of this Fourth Revolution. Many opportunities The application of high technology, typical of the Fourth Industrial Revolution, will help Vietnamese banks to gain many benefits such as improving profitability by reducing administrative costs, effectively operating the banking system and tech infrastructure, deploying new products and services in a faster and more flexible manner to meet customers' demands for electronic banking services. This will thus help domestic banks develop strongly and compete with advanced banks in the region and in the world. The digital banking model, technologically operated digital devices connected to computer software in the Internet environment, has in fact been, and will be, changing the entire banking structure and providing … [Read more...] about Banking Industry before 4th Industrial Revolution: Plentiful Opportunities, Abundant Challenges
Industrial businesses optimistic on better first quarter 2018
NDO – Over 48% of industrial manufacturing and processing firms have expressed their optimism on a better business operation in the first quarter of 2018.According to a recently-conducted survey by the General Statistics Office of Vietnam (GSO) on business trends of manufacturing and processing enterprises in the first quarter of 2018, 48.2% of firms stated that the trend would be better, while 16.1% of them forecast more difficulties and 35.7% said that their production and business situation will stabilise compared to the fourth quarter of 2017.GSO also pointed out that in terms of production volume for Q1 2018, 49.2% of enterprises forecast increased production volume; 14.9% of businesses predict a reduction and 35.9% of them forecast stable situation compared with the last quarter.Regarding orders, the trend for the first quarter in 2018 has improved more than the previous quarter, with 43.6% of enterprises expected to have orders increase; 14.9% of them plan to reduce orders … [Read more...] about Industrial businesses optimistic on better first quarter 2018
HCMC firms step up investment in supporting industries
HCMC firms step up investment in supporting industriesVan Nam HCMC – Many industrial enterprises in HCMC have invested dozens of millions of U.S. dollars in supporting industries to participate in the supply chains of foreign direct investment (FDI) firms, especially those in electronics and auto sectors. According to experts, the HCMC engineering industry holds high potential, offering numerous opportunities for those local firms wanting to engage in supporting industries. Take the auto sector for example. Mercedes has plans to boost auto manufacturing in Vietnam to supply the Southeast Asian market, while other firms such as Daehan Motors, Vinh Phat Motors and Samco have penetrated into the Vietnamese market. Such a trend will result in higher demand for parts, thus boosting supporting industries. According to the HCMC Department of Industry and Trade, many engineering enterprises have invested heavily in modern production lines including Saigon Industry Corporation, Lap Phuc … [Read more...] about HCMC firms step up investment in supporting industries
Bright prospects seen for paint, printing ink industry
Viet Nam’s paint and printing ink industry is expected to enjoy a growth rate of 8 per cent in volume and 10 per cent in value compared to last year, according to the Viet Nam Paint and Printing Ink Association.Speaking at a press briefing on December 20 in HCM City to introduce the upcoming Coatings Vietnam Expo, Nguyen Thi Lac Huyen, the association’s chairwoman, said “The industry has seen more than an annual 10 per cent growth in recent years.”Last year, the industry produced 497 million litres of paint with total production value of US$1.64 billion. Construction paints accounted for more than half, she said.Local firms have invested in building new factories in industrial parks and many foreign investors from South Korea, Thailand, Malaysia and Taiwan have shifted their paint and printing ink production facilities to Viet Nam.The paint and printing ink industry is a support industry for many other sector, she said.The country’s stable economic growth … [Read more...] about Bright prospects seen for paint, printing ink industry