Day: April 15, 2024

Hanoi: A series of activities within the framework of the programme to support businesses in digital transformation for 2021-2025 have been implemented by the Enterprise Development Department (EDD) under the Ministry of Planning and Investment (MPI) in collaboration with ministries, sectors, and localities, concentrating on raising awareness of digital transformation among businesses nationwide. According to EDD Deputy Director Nguyen Duc Trung, this effort helped raise businesses' awareness of the necessity of digital transformation. Many enterprises have embarked on digitising data, standardising process, and accelerating the application of digital technology, and moving towards more extensive and synchronised digital transformation, Trung said. According to the annual Report on Digital Transformation 2023 recently launched by the MPI and the German Agency for International Cooperation (GIZ), there is a significant improvement in the scores evaluating businesses' readiness for digital transformation, wh ich rose by 0.7-1.4 points compared to the previous year to 2.5 points. Firms have understood the significance of digital transformation, with many proactively integrating digital transformation target into their development strategy as well as mobilising necessary resources for digital transformation projects, the report revealed. According to Le Thi Quyen, head of the EDD's electronic information office, the twin green and digital transition trend is becoming increasingly important in the world, focusing on three main pillars of increasing sustainable productivity and economic efficiency, strengthening resilience and adaptation to climate change, and minimising or eliminating greenhouse gas emissions. In Vietnam, digital technology and digital transformation are expected to be a motivation to bolster green economic transition and realise strategic targets on green growth. Despite having adequate awareness and knowledge about digital transformation, Vietnamese businesses often find it difficult to indepe ndently carry out this comprehensive change process. Therefore, it is necessary to have policies, support programmes, and consultation for businesses on digital transformation roadmap, as well as assistance in applying appropriate digital transformation solutions, thus helping them make breakthroughs in the coming time, said insiders./. Source: Vietnam News Agency

Hanoi: China, the US and Japan were the three largest importers of Vietnam's fishery products in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Exports to the US saw the highest increase in the period, by 16%, to 330 million USD, with shrimp shipments rising by 15%, and that of tuna, tra fish and crab surging by between 13% and 53%. Meanwhile, exports to China and Hong Kong (China) increased by 15%. China was the biggest importer of Vietnamese tra fish, white-legged shrimp, lobster, anchovy and crabs. According to VASEP, as China is tightening control of lobster import from Ecuador, Vietnam sees an opportunity to increase its exports. In the first quarter of this year, Vietnam's lobster export to China was seven times higher than that of the same period last year. Moreover, its export of white-legged shrimp also increased 2.5 times. Vietnam's exports of fishery products to Japan also saw positive signals, VASEP's communication director Le H ang said. The export of Vietnamese white-legged shrimp, crab and tra fish to Japan picked up by 20%, 23% and 25% respectively compared to the same period last year. Exports of Vietnamese shrimp and tra fish to the EU and the Republic of Korea (RoK) have not seen clear signs of recovery. However, Vietnam's tuna shipments to these markets grew positively - up 27% to the EU and up 15% to the RoK. In general, tuna exports to major markets saw good growth in the first quarter with increases of 30% to the US and 9% to Japan. Hang said that after international fishery product fairs held in the EU, the US and Japan, it's expected that Vietnamese exporters can gain more orders and Vietnamese products can be sold at better prices. VASEP forecasted that in 2024, Vietnam's shrimp industry will continue to compete with Ecuador and India in terms of prices and supply. Oversupply will likely happen in the first half of this year. Meanwhile, tra fish inventory in the US, China, and the EU will shrink and export prices w ill increase again in those markets. As Vietnam's fishery exports are expected to gradually recover in the second half of this year, the country's exports in the whole year 2024 is estimated to reach 9.5-10 billion USD with shrimp bringing home 4 billion USD, tra fish 1.9 billion USD and other fishery products 3.6-3.8 billion USD, according to VASEP./. Source: Vietnam News Agency

Hanoi: Building and developing product brands is a common responsibility of the whole society, not a single ministry, sector, locality, or organisation, said Vu Ba Phu, Director of the Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade. In a recent interview granted to the Vietnam News Agency, he said the continuous improvement of the nation brand of Vietnam in the world rankings comes as a result of the Party's proper guidelines and the Government's strong directions in respect of economic, political, diplomatic, cultural, and social affairs, which have contributed to the country's prestige and stature in the international arena. The business community, especially those having products granted the 'Vietnam Value' title, has also exerted tireless efforts in building and developing brands for products and enterprises, thereby helping raise the value and standing of the nation brand in the world, he noted. Particularly, Phu added, despites difficulties, challenges, and adverse impacts of economic and geopolitical tensions in many regions worldwide, enterprises have managed to elevate the standing while affirming the value, quality, and brands of their products and themselves in domestic and international markets thanks to their proactiveness, creativity, and self-reliance. The Vietnam Value Programme has also been carried out in the right direction, helping build and promote the image of Vietnam as a country with quality goods and services in both domestic and international markets. As a result, the nation brand of Vietnam has quickly moved up in the global rankings, he went on. The official said many enterprises with quality products, a number of developed economic sectors, and multiple typical products of regions will form an important basis for elevating the brand of a nation. On the other hand, when the brand of a nation is promoted in international markets, it is a guarantee of the prestige of enterprises, sectors, and localities of that nation. This will help foster competitiveness, i nvestment attraction, and foreign trade. To continue building brands and increasing export value of Vietnam's key products, in 2024 and beyond, it is necessary to keep improving all-level authorities and sectors' awareness of brand building and development so that due attention and resources are given to the work. Ministries, sectors, localities, and business associations need to overhaul brand building and development plans, step up capacity building for stakeholders, and assist with registering and protecting brands as well as advertising products, especially key and potential ones, in key foreign markets. In addition, brand building and development must be conducted concurrently at the national, regional - local - sectoral, and enterprise levels, according to the VIETRADE official./. Source: Vietnam News Agency

Hanoi: Vietnam's agricultural products were sold well in foreign markets in Q1, with a surge in both volume and prices documented. According to the Ministry of Agriculture and Rural Development (MARD), durian exports brought home 254 million USD in the first three months of the year, shooting up 66% against the same time last year. Vietnam shipped some 32,750 tonnes of the fruit worth 161 million USD to China during January - February, overtaking Thailand to become the largest exporter of the staple to the northern neighbour. The country accounted for nearly 60% of the total market share of durian in China, well above the 32% in 2023. Within less than two years, Vietnamese durian made a giant stride in the market of more than 1 billion consumers, and the fruit is expected to maintain its reign in this market for a long time thanks to bumper crops, competitive prices, and rapid transportation. In the same vein, coffee has been on its heyday after more than 30 years reaching out to the European market. The country gained nearly 1.9 billion USD from exporting 800,000 tonnes, up 54.2% in value and 44.4% in quantity year-on-year. As coffee bean is now sold at around 4,000 USD per tonne, it is possible to achieve the set target of 5 billion USD in export revenue this year, experts have said. Meanwhile, Vietnamese banana has won the taste of the Republic of Korea, China's Hong Kong, and Japan, among others. Vietnamese fresh banana has hit the shelves of more than 90 AEON stores in Hong Kong while the Philippines, China's Taiwan, and Singapore were the main supplier previously. Rice made a great contribution to Vietnam's farm produce export growth in the three-month period. More than 2 million tonnes were shipped abroad for 1.37 billion USD, a year-on-year rise of 12% in volume and 40% in value. Vietnam, among the world's top three rice exporters, is pinning a high hope for rice export this year, given its stable production and India's export ban. Besides, the export of Vietnamese fishery products made a breakth rough in the period with nearly 1.9 billion USD in revenue, up nearly 2% from the same time last year. The items have been in the shopping list of consumers in 170 countries and territories. Japan, the US, and China are the key markets of Vietnamese fishery products. Particularly, Vietnam has surpassed its rivals such as Ecuador, India, and Indonesia in shrimp shipments to China. Experts held that they should zone off quality cultivation area, strictly comply with food safety and hygiene standards and quarantine requirements of fastidious markets, and build brands for their products./. Source: Vietnam News Agency

Hanoi: The planning for 30 airports, both international and domestic, is expected to be completed by 2025 under a master plan on airport development for 2021-2030 with a vision towards 2050. The Ministry of Transport recently proposed the Prime Minister approve plans, policies, and solutions to materialise the master plan. Accordingly, the ministry will focus on major projects and prioritise investments in those that play a crucial role in the Hanoi capital region's socio-economic development, and international integration, specifically Noi Bai International Airport, and the Ho Chi Minh City region, referring to Tan Son Nhat and Long Thanh International Airports. Among the 30 airports, 14 are international, namely Van Don, Cat Bi, Noi Bai, Tho Xuan, Vinh, Phu Bai, Sa Nang, Chu Lai, Cam Ranh, Lien Khuong, Long Thanh, Tan Son Nhat, Can Tho, and Phu Quoc. The research and planning for Cao Bang airport, the second in the Hanoi capital region, and Hai Phong International Airport are set to be done in the 2026- 2030 period. The total investment for airport infrastructure, excluding the projects invested by Vietnam Air Traffic Management Corporation (VATM), for 2021-2030 is estimated at about 420.5 trillion VND (16.7 billion USD). To attract such capital, the ministry proposed the phased allocation of the state budget as approved, saying relevant ministries, agencies, and localities should step up coordination in the work, and social sources in the form of public-private partnership (PPP) be maximised. Apart from policies on investment, human resources development, scientific-technological application, and aviation development, more attention should be paid to social welfare, environmental protection, and national defence and security, it said./. Source: Vietnam News Agency

Vinh Phuc: Many Singaporean enterprises are interested in opportunities for cooperation with Vinh Phuc in such areas as education, health care and tourism, Singaporean Ambassador to Vietnam Jaya Ratnam said during a working visit to this northern province on April 15. He said that the Vietnam - Singapore relations have made great strides with deep political trust and growing economic and trade ties. Currently, he noted, Singapore is one the three biggest foreign investors in Vietnam. In Vinh Phuc alone, the city state has invested nearly 500 million USD in 12 projects. In particular, its YCH Group's SuperPort dry port project, carried out in coordination with Vietnam's T and T Group, has become a success symbol of the two countries' mutually beneficial cooperation. The ambassador emphasised that Singapore is committed to strengthening cooperation with the province in training high-quality human resources. In the next five years, it is ready to support Vinh Phuc to train and improve the capacity of about 50 0 cadres and skilled workers, especially in the field of logistics. Ratnam also called on Vinh Phuc to provide optimal conditions for Singaporean investors to effectively implement investment, production and business projects in the province. At the meeting, Secretary of the Vinh Phuc provincial Party Committee Duong Van An applauded cooperation activities between the province and Singapore, which have contributed to the extensive ties between the two countries. He highlighted many investment projects of Singaporean enterprises in Vinh Phuc as well as cooperation potential and opportunities in various fields in the coming time. He hoped that the ambassador will keep acting as a bridge to further strengthen Singapore's relations with Vietnam in general and Vinh Phuc in particular, and assist Singaporean firms to come and seek investment opportunities in the province. He affirmed that Vinh Phuc will direct relevant agencies and closely coordinate with the Government, ministries and central agencies to remov e difficulties and obstacles to facilitate Singaporean projects. At the same time, the province will also discuss with the Singaporean side to secure closer cooperation in human resources training to meet local development demand./. Source: Vietnam News Agency

Binh Duong: The Horasis China Meeting 2024 themed 'Vietnam and China drive ahead' opened in the southern province of Binh Duong on April 15. The international event, co-organised by the provincial People's Committee and the Horasis economic forum, the Becamex IDC Corporation, and the China Federation of Industrial Economics, marked a step forward in promoting economic cooperation between Vietnam and China, thus opening up great opportunities for breakthroughs in new investment cooperation potential. Deputy Prime Minister Tran Hong Ha said that the meeting creates an opportunity for all parties to share vision, seek opportunities, and strengthen cooperation in innovation, sustainable development, and science and technology. It is not only a good chance for Binh Duong to promote the image of the province in particular and Vietnam in general to international friends, but also an opportunity for international businesses to learn about Binh Duong as an attractive, reliable investment destination, and a land wor th living in, with long-term development and investment efficiency. The Vietnamese Government will always listen to and create good mechanisms for investors, Ha said. Initiatives shared at the meeting sessions will help the Government build adaptive policies for integration for the future of the world, including strengthening connectivity and cooperation for the common development goal not only in Vietnam but also over the globe. Chairman of the provincial People's Committee Vo Van Minh said that by hosting the Horasis China Meeting, Binh Duong hopes to find important solutions, create favourable conditions for entrepreneurs to access development strategies, and intensify new cooperation to promote economic development. On this occasion, Binh Duong granted investment approval decisions and investment registration certificates to 17 domestic- and foreign-invested projects./. Source: Vietnam News Agency