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| Vietnamese Prime Minister Pham Minh Chinh speaks at the Australia-Vietnam Business Forum. (Photo: VNA) |
The ministry said Australian businesses have invested in 631 projects in the Southeast Asian nation, with a total registered capital of 2.04 billion USD.
Among the 18 sectors in which Australian firms have poured capital into, processing and manufacturing received the most with 133 projects worth 954.68 million USD, followed by lodging and catering services with 31 projects valued at 154.32 million USD.
The agro-forestry-fishery sector ranks third with 25 projects and 120.04 million USD, according to the ministry.
Among 45 cities and provinces receiving Australian investments, the southern province of Ba Ria - Vung Tau takes the lead with 16 projects worth 392.21 million USD, followed by Ho Chi Minh City and Hanoi.
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| Processing-manufacturing industry attracts most Australian investments. (Photo: VNA) |
Vietnam has so far attracted 39,553 FDI projects worth 473.1 billion USD, with nearly 300 billion USD disbursed.
Meanwhile, Vietnam has injected more than 550 million USD into over 90 projects in Australia.
The bilateral trade stood at about 14 billion USD last year, making the two countries among the top 10 trade partners of each other.
List of 100 businesses joining Vietnam Pavilion on Alibaba.com announced
A list of 100 outstanding businesses in the "Vietnam Pavilion" on the Alibaba.com platform - a leading B2B e-commerce platform, was announced on March 6 under a cooperation programme between Alibaba.com and the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, reported Vietnam News Agency.
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| Representatives of the outstanding businesses in the "Vietnam Pavilion" on the Alibaba.com platform. (Photo: hanoimoi.vn) |
A list of 100 outstanding businesses in the "Vietnam Pavilion" on the Alibaba.com platform - a leading B2B e-commerce platform, was announced on March 6 under a cooperation programme between Alibaba.com and the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade.
The programme aims to introduce the diversity of “Made in Vietnam” products, promote international trade activities, create conditions for businesses to access millions of customers worldwide through Alibaba.com's large customer network, and help global customers understand more about Vietnam’s products and small- and medium-sized enterprises (SMEs).
The selection process took place from November 28, 2023 to January 15, 2024. The selection of winning enterprises was based on 14 criteria, including product quality, reputation, effective use of B2B e-commerce tools, and export potential, among others.
Addressing the event, Vietrade Director Vu Ba Phu highlighted the role of Alibaba.com in promoting and organising support and training activities for Vietnamese businesses to gain more skills and knowledge about online exports for sustainable business.
Initiated and operated since 2022, the “Vietnam Pavilion” focuses on supporting Vietnamese businesses in building images and promoting brands, and backing business connection activities.
According to Mike Zhang, Country Director of Alibaba Vietnam, Vietnamese suppliers selected for this programme will receive technical support and consulting in building and enhancing business profiles on Alibaba.com. It is also expected to pave the way for boosting exports for participants through trade promotion events, buyer-seller connections and mutual learning opportunities.
Weekly container service connects RoK port with Vietnam
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Illustrative image (Photo: VNA)
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The Incheon Port Authority (IPA) has announced that Maersk, a global shipping company, launched its new PH5 service at the Incheon Port on March 4, a weekly container service that connects the Republic of Korea’s Incheon with Vietnam and Thailand via China, reported Vietnam News Agency.
The service will deploy five vessels, each having a capacity of 2,544 TEU-2,826 TEU, with the first, the MAERSK NINGBO, having already arrived at the Hanjin Incheon Container Terminal to load cargo.
The main ports of call on the route are Xiamen, Hong Kong (China), Laem Chabang (Thailand), and Cat Lai-Ho Chi Minh City (Vietnam).
The IPA expects the new service will increase the volume of cargo, including raw materials, auto parts, daily necessities, furniture, and small home appliances, by more than 60,000 TEU per year.
An IPA official said the new service has increased the number of port calls to Vietnam and Thailand from Incheon Port to 29, helping small- and medium-sized enterprises expand their export markets, and provide shippers and freight forwarders in urban areas with more options.
The Incheon Port is committed to working with shipping and logistics companies to ensure the stability and development of the route.
Tuyen Quang breaks ground on new biomass fuel plant with Japanese partner
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| At the groundbreaking ceremony (Photo: VNA) |
Authorities of northern Tuyen Quang province and Japan’s Erex JSC kicked off the construction of the Erex Sakura Tuyen Quang biomass fuel plant on March 6, reported Vietnam News Agency.
The ceremony marked a significant step forward for the project, which will occupy a 3.3ha site and have a total investment of over 478.8 billion VND (20.4 million USD). Once operational in 2025, it is to produce 150,000 tonnes of biomass pellets and 150,000 tonnes of wood chips per year.
The project is anticipated to contribute to addressing issues like environment pollution and greenhouse gas emissions, while promoting the sustainable development of biomass energy industry in Tuyen Quang.
Honna Hitoshi, President and Representative Director of Erex JSC, said the project contributes to realising Vietnam's net emission reduction policy, providing stable electricity and meeting economic development needs of Vietnam and Tuyen Quang in particular.
Chairman of the provincial People’s Committee Nguyen Van Son urged departments and agencies to work closely with the investor to step up the plant construction
Tuyen Quang now boasts 20 active projects involving 17 foreign investors, with a total investment exceeding 340 million USD. It also benefits from the support of numerous international partners, with the Japanese groups extending their involvement in 25 projects across health care, education and the environment, with a combined value of over 1.4 million USD./.