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| Workers examine electronic circuit boards at a Republic of Korea-invested company in the Yen Phong Industrial Park in Bac Ninh province. (Photo: VNA) |
Nguyen Dinh Muoi, Deputy General Director of the Vina T&T Import Export Service Trading Co. Ltd, said that so far this year, his company’s export revenue has risen by over 25% from a year earlier. Many products such as frozen durian, pomelo, and mango are currently exports to the US, Canada, Australia, Japan, and the Republic of Korea. On average, the firm ships one container of frozen durian to the US every three days.
Meanwhile, export orders placed at confectionery manufacturer Richy Group Joint Stock Company until the end of 2024 have surged, and its revenue for the whole of this year could exceed 2 trillion VND (80 million USD), said Nguyen Thi Bich Son, an executive at the company.
The General Statistics Office recently reported that in 2023, the electricity and electronics sectors contracted 2.3%, motorised vehicle production down 4.1%, leather - footwear down 1.9%, and rubber and plastics up 8.8%. However, they regained growth momentum during the first nine months of 2024, posting respective expansion of 9.1%, 13%, 11.6%, and 28.8%. Many other groups of commodities like furniture, coke, refined petroleum products, and processed food also enjoyed growth ranging between 7.8% and 25%.
During January - September, more than 7.64 billion USD in foreign investment was added to 1,027 existing projects, respectively increasing 48.1% and 7.3% year on year. The foreign capital disbursement reached 17.34 billion USD, up 8.9%.
Bruno Jaspaert, Chairman of the European Chamber of Commerce (EuroCham) in Vietnam, said in 2024, Vietnam remains attractive to foreign investors as foreign investment keeps flowing strongly into the country. The business confidence index of European enterprises here saw a notable increase, from 45.1 in the third quarter last year to 52 in Q3 of 2024.
In addition, industrial production has sustained quarter-over-quarter growth, resulting in a year-on-year increase of 8.6% in the nine-month industrial production index. Total foreign trade approximated 579 billion USD, up 16.3% year on year, with exports rising 15.4%.
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| Illustrative photo (Source: congthuong.vn) |
Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Union of Business Association, held that the world’s economic situation gradually stabilised during the nine months, with global trade in goods improved, inflationary pressure eased, financial conditions further loosened, and labour supply bettered.
A survey of enterprises shows that both the number and value of their export orders have increased, Hoa continued.
Economic experts recommended that despite positive results, the country should steer clear of subjectivity in the face of stringent regulations and standards from large export markets, unpredictable changes in the global market that may affect supply chains, and the strong competition from foreign rivals such as India and Thailand right in the domestic market.
They also pointed out the need to constantly improving the investment climate and creating growth momentum.
Some enterprises proposed the Government, ministries, and sectors maintain uninterrupted trade flows, build corridors for essential goods and services, boost infrastructure development, and digitalise public administration and logistics to keep up with e-commerce development.
22nd Vietnam Int’l Plastic & Rubber Industry Expo opens in HCM City
The 22nd Vietnam International Plastics and Rubber Industry Exhibition (VietnamPlas 2024) opened in Ho Chi Minh City on October 16 with 700 exhibitors from 20 countries and territories, reported Vietnam News Agency.
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| 22nd Vietnam Int’l Plastic & Rubber Industry Expo opens in HCM City (Photo: VNA) |
Organised by VINEXAD company under the Ministry of Industry and Trade (MoIT), Yorkers Trade & Marketing Service, and other trade promotion units, the 4-day event provides a platform for showcasing advanced technologies in automation, digitalisation, and sustainable green transformation.
Participants from Vietnam, Germany, the Republic of Korea, Taiwan (China), and others are introducing cutting-edge solutions, including sustainable recycling technologies, advanced injection molding machines, and precision mechanical equipment.
Phan Tuan Hung, Director of Legal Affairs, Ministry of Natural Resources and Environment, highlighted the significant opportunity for Vietnam's recycling industry with the implementation of the Extended Producer Responsibility (EPR) regulation. This supports recycling efforts through financial assistance, aligning with the growing demand for sustainable products.
The exhibition is supported by key industry associations, including the Vietnam Plastics Association (VPA) and the Vietnam Rubber Association (VRA), cementing its position as a trusted annual event. It also features seminars on environmental challenges, as Vietnam aims for net-zero emissions by 2050.
Vietnam’s largest rice grain-shaped tower sets world record
Located in the northern province of Bac Ninh, Than Nong tower has received recognition from the World Records Union (WorldKings) for a rice grain-shaped tower made from the world’s highest number of stone mortars, reported the Voice of Vietnam.
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| Than Nong tower is recognized as a rice grain-shaped tower made from the world’s highest number of stone mortars. (Photo: vtcnews.vn) |
The World Records Union (WorldKings) officially awarded its certificate to Dong Do Techcom Co., LTD on October 13 that designed and built the tower.
Than Nong Tower was designed to stand vertically, reaching a height of 15 metres and divided into five floors symbolising the five elements of metal, wood, water, fire, and earth. It was assembled using a total of 1,012 stone mortars.
Earlier, on May 20, 2023, Than Nong tower was recognised as the largest of its kind in the country by the Vietnam Records Organization (Vietkings) as it sets a national record.
On November 30 last year the tower continued to hold a record in Asia for having the largest number of ancient stone mortars to shape rice-grain tower. This unique structure symbolises the culture of the northern region.
The tower, which was built in 2021, plays a key role in both preserving and promoting the cultural heritage of Kinh Bac region, one of the gateway to the former Thang Long Citadel – now Hanoi, and the wet rice culture.
More Lunar New Year flights approved for Tan Son Nhat airport
The Civil Aviation Authority of Vietnam (CAAV) has decided to increase the landing and takeoff frequency at Tan Son Nhat International Airport in Ho Chi Minh City on airlines’ requests during the coming Lunar New Year festival (Tet) that often sees a spike in the number of passengers travelling to their hometowns for family reunion, reported the Voice of Vietnam.
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| Illustrative photo (Source: VOV) |
Accordingly, from January 14 to February 12, the number of flights at the airport will increase from 42 to 46 per hour between 06:00 a.m. and 11:55 p.m. and from 32 to 42 per hour from 00:00 a.m. to 05:55 a.m.
At the domestic terminal area, the hourly frequency of takeoff at Gate A and Gate B will increase from 13 to 15 flights and 11 to 13 flights, respectively. Meanwhile, the hourly frequency of landing will increase by 21 to 22 flights.
The CAAV also requested that airlines ensure the effective use of granted taking off and landing slots, as well as safety, security, and stable service quality.
According to the CAAV, this decision will help airlines and other relevant units to actively develop their operation plans on the occasion of Lunar New Year, the peak travelling season of the year.
Vietnam Airlines Group, including Vietnam Airlines, Pacific Airlines, and VASCO, opened early sales in September for nearly 1.5 million seats on the entire domestic flight network for travel from January 13, 2025, to February 12, 2025.
Meanwhile, low-cost carrier Vietjet also opened sales early with 2.6 million tickets over the period from January 15, 2025, to February 12, 2025.
The Prime Minister has yet to approve the off-work plan for the coming Lunar New Year holiday. Meanwhile, the Ministry of Labour, Invalids and Social Affairs has proposed nine days off work, lasting from January 25, 2025 to February 2, 2025./.