A gantry crane loads cargo at Tien Sa Port in Da Nang. The city has approved a master plan for the development of logistics infrastructure by 2030. (Source: VNA) Da Nang (VNS/VNA) - The central city of Da Nang has approved a master plan for the development of its logistics infrastructure by 2030 with total investment of 13.7 trillion VND (606 million USD). Vice Chairman of the municipal People’s Committee Dang Viet Dung said the plan, which was submitted to the city’s People’s Council in the second quarter of this year, will focus on making Da Nang a destination for ASEAN and Asia Pacific logistics chains. Dung said the city will allocate 312ha of land for logistics infrastructure with a series of linked roads, railway sections and stations, a cargo airport, storage and a sea port as well as the national expressway system. He said according to the plan, the railway system will handle 55 percent of total cargo that goes through Da Nang, while the airport and sea … [Read more...] about Da Nang greenlights 606 million USD logistics plan
Vietnam laos cambodia cruise
BUSINESS NEWS IN BRIEF 9/12
Online Friday kicks off with 5,000 promotional products Online Friday 2018 officially kicked off on December 7, with 5,000 products at promotional prices of 0 VND or with prices reduced by 80 to 90 percent, according to event organiser the Vietnam E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade. Around 3,000 businesses registered to join the programme. Around 120,000 buyers can access the website onlinefriday.vn or the Online Friday app at the same time. Many big brands participate such as Samsung, Jetstar, Vinamilk, Lazada, Shopee, Tiki, Lotte, Adayroi, The gioi di dong (Mobile World), Yes24, FPTshop and ViettelStore. Delivery businesses such as VnPost, Nijavan, Lalamove and Snailship would support firms by reducing delivery costs for the event. Twenty banks will join in cash-back programmes to help customers use card payments. To ensure product and service quality, the organiser told firms to provide certificates of origin. The organiser … [Read more...] about BUSINESS NEWS IN BRIEF 9/12
Vietnam ease past Laos in ASEAN opener
Vietnam ease past Laos in ASEAN opener Vietnam’s midfielder Nguyen Cong Phuong (C) fights for the ball with Laos players during their AFF Suzuki Cup opener at the New Laos National Stadium on Thursday - PHOTO: VNA HONG KONG (REUTERS) - Vietnam cruised to a 3-0 win over Laos on Thursday evening, laying down an early marker in their opening game of the biennial ASEAN Football Federation Championship. Park Hang-seo's side, who won the regional title in 2008 and are one of the pre-tournament favorites, were dominant against a Laos team that packed the defense and offered little in the attacking third. Nguyen Cong Phuong put the visitors in front at the New Laos National Stadium in Vientiane 11 minutes into the game when he rifled a right-foot shot into the top corner from 12 meters out. And, as the half-time whistle approached, Nguyen Anh Duc scored the second after Luong Xuan Truong's initial effort from distance had come back off the post. Nguyen Quang Hai's curling free … [Read more...] about Vietnam ease past Laos in ASEAN opener
Growing affluence sees more and more Vietnamese go on overseas cruises
Data from the Asia Cruise Trends report released by the Cruise Lines International Association (CLIA) shows that the number of Vietnamese going on cruise trips abroad last year soared to 59,000, 38 times up from as recently as 2012. This makes Vietnamese among the most promising groups of customers in the fastest-growing Asian cruise market, the report said. The boom has been attributed to the country’s economic growth. GDP growth reached 6.98 percent between January and September. Prime Minister Nguyen Xuan Phuc early last week told the ongoing National Assembly session that the economy is likely to expand 6.7 percent in 2018. This year’s estimated per capita GDP of $2,540 marks a $440 increase over 2015, the PM said. A World Bank report last year said the country is seeing an increasing number of people, estimated at 1.5 million each year, join the ranks of the middle and upper classes. “As Vietnam’s economy grows, and an increasing number of citizens … [Read more...] about Growing affluence sees more and more Vietnamese go on overseas cruises
BUSINESS IN BRIEF 4/4
Hapro and Protrade Corp. report successful IPOs Both state-owned Hanoi Trade Corporation (Hapro) and Binh Duong Producing and Trading Goods Corporation (Protrade Corp.), the owners of several golden land plots and industrial parks, conducted successful IPOs. On March 28, Protrade, the third largest state-owned firm in the southern province of Binh Duong, offered 30 million shares for sale, equalling 10 per cent of its stakes, at its IPO with the initial price of VND12,000 ($0.53). As a result, 63 investors joined the auction, four of whom won with the highest bid of VND21,000 and the lowest bid of VND16,600. The average selling price was VND17,474, which was 46 per cent higher than the initial price. After the IPO, the state’s holding in Protrade decreased to 50 per cent, equalling 150 million shares. Besides, Protrade Corp. will put 119.7 million shares, equalling 39.91 per cent of the stakes, on sale to strategic investors. Previously, Protrade Corp. also published the … [Read more...] about BUSINESS IN BRIEF 4/4
BUSINESS IN BRIEF 4/2
ADB helps urban infrastructure development in HCM CityVice Chairman of Ho Chi Minh City People’s Committee Tran Vinh Tuyen on February 1 received Eric Sidgwick, Asian Development Bank (ADB)’s Country Director for Vietnam.At the meeting, the municipal official affirmed that HCM City is committed to implementing cooperation deals with its partners, especially ADB. He added that the Vietnamese Government is revising projects using official development assistance (ODA) to ensure their effective implementation.Regarding the four major projects between HCM City and ADB, Tuyen noted that the city has asked the Ministry of Planning and Investment to allocate funding for the metro line No.2.It also approved the compensation plan for land clearance which the HCM City’s Management Authority for Urban Railway and ADB have agreed on. In addition, HCM City has worked on ADB’s recommendations on the first phase of the metro line No.5.For his part, Sidgwick affirmed to support … [Read more...] about BUSINESS IN BRIEF 4/2
BUSINESS IN BRIEF 1/2
PNJ targets opening at least 40 stores this yearPhu Nhuan Jewelry (PNJ) plans to open at least 40 new stores this year and have 300 by the end of April. The 40 new stores include gold stores or stores combining gold and silver retail.It has also set a net revenue target of VND14.1 trillion ($619.6 million) for the parent company this year, up 30 per cent, with after-tax profit increasing 22 per cent to VND882 billion ($38.7 million).PNJ is in the process of preparing for upgrading and modernizing its ERP system, through which it can study customer behavior at outlets and better understand customer choice.The company also plans to use big data to develop new products aimed at more specific customer groups and at the same time use digital marketing strategies to expand market share.As noted by HSC, PNJ’s sales in FY2017 increased 28 per cent year-on-year to VND10.97 trillion ($482.1 million) thanks to most segments growing strongly. Gold bar revenue increased 20 per cent, to … [Read more...] about BUSINESS IN BRIEF 1/2
Vietnam in Top 10 destinations for Americans aged 55+
Vietnam, Thailand, Laos and Cambodia in Southeast Asia ranked ninth in the Top 10 destinations for Americans who are 55 years or older, according to Mr. Alan E. Lewis, Chairman of Overseas Adventure Travel (O.A.T), the leader in small groups on the road less traveled. Visitors in Hoi An Ancient Town He announced O.A.T’s “Top 10 Destinations for 2018” based on year-to-date bookings by O.A.T. travelers. More than 15,000 travelers have booked an adventure to one or more of these destinations in 2018. There have been 1,295 bookings to Vietnam, Thailand, Laos, or Cambodia.O.A.T. anticipates 57,012 travelers overall in 2018, up from 46,247 in 2016 and 40,266 in 2013. “Whether 55 or 75, older American travelers are heading to far-flung locations in record numbers and their varying choice of destinations mirrors the myriad interests of their generation,” said Mr. Lewis. “What these travelers share in common is the desire to be fully immersed in local … [Read more...] about Vietnam in Top 10 destinations for Americans aged 55+
Social News 15/1
Small-scale coffee farmer gets helping handLò Thị Phong from Chiềng Chung Commune in Mai Sơn District in the mountain province of Sơn La, has cultivated coffee for more than 10 years on 5,000 square metres of land, but she still finds life difficult.A decade seems long enough to improve farmining practices by trial-and-error, however, according to the middle-aged Thái woman, “even now, we still cannot keep proper financial accounts”.During discussions hosted by CARE International last week, stakeholders in the mountain coffee industry touched on deeper obstacles facing the industry.CARE has worked in Việt Nam since 1989, concentrating on supporting rights and sustainable development among vulnerable groups, particularly remote ethnic communities, poor women and girls and people vulnerable to climate change.Nguyễn Vĩnh Đức, deputy director of the Sơn La branch of the Minh Tiến Coffee Export Joint Stock … [Read more...] about Social News 15/1
BUSINESS IN BRIEF 15/1
Leather, footwear sector targets 20 bln USD in export earningsVietnam sets a target of earning between 19.5 - 20 billion USD from leather and footwear exports in 2018, up 10 percent from 2017, heard a conference in January 12.According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is expected to grow 5 percent from last year, with the localisation rate reaching 55 percent. Footwear and handbags will remain Vietnam’s top four and 10 exports, respectively.Addressing the event, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world’s economy and increasing consumption demand, saying that these create both favourable conditions and challenges to Vietnam in exports and investment.In order to help Vietnamese exporters realise the target, the association will actively participate in relevant policy making while luring foreign and domestic investment in support industry, thus increasing the … [Read more...] about BUSINESS IN BRIEF 15/1