Hoa Phat’s long steel products to be exported to Europe

Thursday, 22/12/2022 18:30
A contract has been signed by Hoa Phat Group to export 10,000 tonnes of steel wire in coil form to Europe.

Hoa Phat to export long steel products to Europe (Photo: Hoa Phat Group) 

This is the first order of long steel products from Europe, opening up a potential market for Hoa Phat steel products, according to the Vietnam News Agency.

According to a representative of Hoa Phat Hung Yen, the batch of steel wire was produced in accordance with American Society for Testing and Materials (ASTM) standards. It is scheduled to be delivered in February 2023.

With this order, Hoa Phat's long steel products have been sold in five continents. Exploiting new markets helps the group expand its export markets, contributing to earning foreign currency and ensuring Vietnam's trade balance.

With modern and closed production lines, Hoa Phat provides diverse and high-quality steel products meeting strict standards of its foreign partners. Hoa Phat has been exporting hot rolled steel coil (HRC) and iron sheet to Europe.

In the first 11 months of 2022, Hoa Phat exported 1.1 million tonnes of construction steel products to many countries and territories such as Japan, the Republic of Korea (RoK), Malaysia, Singapore, Hong Kong (China), the US, Canada and Australia.

In addition to orders to the European market, the firm has also won a number of contracts from traditional markets such as Canada, Cambodia, the RoK, and Thailand in January and February, with delivery scheduled for January and February next year.

Vietnam named Asia’s best culinary destination

The third World Culinary Awards has listed Vietnam as Asia’s Best Culinary Destination in 2022, said the Vietnam News Agency.

The Southeast Asian nation has surpassed many other destinations such as China, Malaysia, Singapore, the Republic of Korea, and Thailand, to earn the accreditation.


A screenshot of the World Culinary Awards website (Photo: VNA) 

Rina van Staden, Director of the annual awards, said that the results were based on a year-long search for the world's top culinary brands, with experts and the public joining related voting.

Winners of the 2022 edition are those that have strived to elevate the culinary excellence around the world, she added.

Vietnamese cuisine has been highly valued in prestigious competitions and by ranking organisations in the world. The country was ranked 5th among the top 10 countries globally with the best food by readers of the Canadian magazine The Travel last October.

On December 1, Michelin, for the first time, announced Hanoi and Ho Chi Minh City as the latest destinations joining the international selection of the MICHELIN Guide. MICHELIN inspectors will present their list of restaurants selected in June 2023.

Viettel honoured at Asia Communication Awards 2022

Innoway solution developed by Viettel High Technology Industries Corporation, a member of Viettel Group, picked up the IoT in Action prize at the Asia Communication Awards (ACA) 2022 for the first time.

At the awards ceremony recently held in Singapore, Viettel High Tech was the only local representative among the nominees, including global brands such as Ericsson, Huawei, Singtel, and SK Telecom, according to Radio the Voice of Vietnam.


Logo of Viettel (Photo: viettel.com.vn) 

Innoway represents a multifunctional platform which is capable of collecting real-time data from billions of hardware components. Indeed, it offers data analysis and data management for apartment buildings, airports, industrial parks, and many other clients.

IoT in Action is an award which recognises the region's leading Internet of Things solutions based on various criteria, including the range of applications, the ability to meet new market demands, and the overall completeness compared to existing solutions.

Launched in 2011 by the Total Telecom of the UK, the ACA recognizes the region's leading communication service providers, telecom operators, suppliers, and other service providers based within the region or offering products and solutions specifically targeting the region.

ADB finances US$107 million to develop wind power in Vietnam

The Asian Development Bank (ADB) has signed a US$107 million financing project with BIM Wind Power Joint Stock Company (BIM Wind) to assist the operation of an 88 MW wind farm in the south central province of Ninh Thuan.

A wind turbine of BIM Wind (Photo: bimgroup.com)

According to a press release by the bank, the power plant will help Vietnam reach its clean energy and climate action targets by offsetting about 215,000 tonnes of carbon dioxide annually.

The project financing is arranged and syndicated by ADB as mandated lead arranger and bookrunner, comprises US$25 million from the bank’s ordinary capital resources, US$25 million from Japan International Cooperation Agency, US$13 million from Hong Kong Mortgage Corporation Limited, US$17 million from Sumitomo Mitsui Banking Corporation, US$18 million from ING Bank, and US$9 million from Cathay United Bank, reported by the Vietnam News Agency.

“Energy demand in Vietnam has grown rapidly even during the pandemic, and it is crucial that this demand be met through clean energy that will drive sustainable economic growth,” said ADB Private Sector Operations Department Infrastructure Finance Division Director for East Asia, Southeast Asia, and the Pacific Jackie B. Surtani. “This project is a crucial step toward Vietnam’s resilience and ongoing recovery by further expanding the country’s renewable energy mix and contributing to its net-zero targets.”


BIM Wind in Ninh Thuan province (Photo: nld.com.vn) 

BIM Wind is jointly owned by ACEN Corporation through its subsidiary, ACEN Vietnam Investments Pte. Ltd., and the BIM Group through its subsidiary, BIM Energy Holding Corporation (BIMEH). ACEN and BIM Group have been developing renewable energy projects since 2019. BIMEH is among the top five renewable platforms in Vietnam with a gross operation capacity of close to 800MW./.

Compiled by BTA