Photo for illustration. (VOV)
Following a series of leading US corporations such as Apple, Amazon, Google, Intel, and several other companies expanding their investment in the Vietnamese market, numerous US companies continue to select the nation as an attractive investment destination.
A representative from Dole Group, the US’ leading banana producer, said its factory in the southern province of Binh Duong has been operating at full capacity as it strives to swiftly deliver products to its supermarket chain in both the US and other markets globally.
Furthermore, other American financiers remain optimistic about business prospects in the Vietnamese market, while simultaneously pledging to pour additional capital in a bid to expand production scale in the country.
During a recent conference entitled “Meet the USA: Partnering for Reopening, Recovery and Rebound in the Southern Economic Region”, Sai Ramana Ponugoti, general director of P&G Vietnam Group, said in spite of difficulties caused by COVID-19, the group has ensured that it provides sufficient products to consumers.
The firm’s representative affirmed that the effective implementation of the country’s vaccination campaign has helped the national economy recover quickly as well as rebuilt trust and confidence among numerous foreign investors.
Packing and checking wooden products shipment to the US market. (Photo: VNA)
He went on to state that the group will continue to invest and transform the Vietnamese factory into a large production hub and export its products to several countries around the world.
KJ Ung, director of First Solar Vietnam, revealed that despite numerous difficulties, such as high production costs and other fees as a result of the COVID-19 pandemic, bright prospects exist for the country’s economic recovery. This has made the company devise a plan aimed at expanding its investment with a total value of 1 billion USD in order to upgrade technology for the Vietnamese solar battery factory.
Concurring with this viewpoint, Andrew Lien, general director of Wanek Furniture Company, said the firm is currently investing in a new project in Ba Ria-Vung Tau province, with investment capital reaching tens of millions of USD.
According to a survey conducted by the American Chamber of Commerce in Vietnam (AmCham Vietnam), approximately 80% of US businesses remain positive about the medium and long-term prospects ahead in the Vietnamese market.
In relation to the figure, roughly 30% of US companies have expressed their optimism regarding their medium and long-term prospects in the country, while also devising plans aimed at investing in expanding production and business activities.
Mary Tarnowka, executive director of AmCham Vietnam, said the Government's efforts to bring life back to a new normal has greatly contributed to companies returning to operate at 100% capacity, with export orders increasing significantly.
The number of AmCham members continues to grow, with several companies being keen on pumping additional investment into the nation, noting that the Vietnamese market remains an attractive destination for the manufacturing industry as foreign businesses seek to diversify their supply chains, she said.
However, US investors underlined the need to have synchronous policies aimed at living safely with the COVID-19 pandemic across the country, a factor which is considered key to the nation’s economic recovery moving forward.
Dr Majo George of RMIT Vietnam University pointed out that US companies tend to seek ways in which to diversify global supply chains and reduce their reliance on China.
Moreover, US companies remain extremely keen on the free trade agreements that the country has has signed, which are expected to benefit these companies.
Dr George stated the necessity of upgrading industrial parks, export processing zones, and economic zones, while also focusing on human resource training related to high technology, the digital economy, energy, infrastructure, and logistics in a bid to further attract US businesses to invest in the Vietnamese market moving forward.
Vietnam’s canned lychee goes on sale at French supermarkets
Canned lychee sold at a Tang Frères supermarket in France (Photo: VNA)
More than 20 tonnes of canned lychee from Vietnam has hit the shelves of supermarkets in France for the first time, according to the trade office of Vietnam in the European country, reported Vietnam News Agency.
This is also the first time canned fruit from Vietnam has been sold at a retail chain in France.
The lychee was imported by Tang Frères, the largest retail system, importer, and wholesale distributor of Asian food in France.
Vietnamese Ambassador to France Dinh Toan Thang said this is a significant success opening up a new development direction for Vietnamese fruit in France and the EU.
He noted although Vietnam has many businesses strong at producing canned fruit, only a modest volume of such product has been imported into France. Given this, the country still has much room for boosting the export of this product, and businesses should fully capitalise on opportunities, thus helping reduce pressure on the sale of fresh fruit in harvest seasons and prove Vietnamese firms’ capacity of ensuring stable fruit supply.
Vu Anh Son, who is in charge of the trade office in France, said via the French partner, Vietnamese goods can access local consumers, professional clients such as restaurants, stores, and small supermarkets in remote areas, as well as hypermarkets in the country.
The EU - Vietnam Free Trade Agreement (EVFTA) has proved highly useful for Vietnam in expanding markets for its exports. Many partners who are foreign distribution networks are also planning to increase the presence of Vietnamese goods in their systems, according to the official.
Hanoi targets to develop up to 35 key industrial products in 2022
54 products from 34 firms applied for KIP recognition in 2021 but only 46 products were recognised. (Photo: moit.gov.vn)
Hanoi has launched a plan to foster the development of key industrial products (KIP) in 2022, expecting 30-35 products to earn the recognition next year, reported Vietnam News Agency.
The city is also working to ensure 100 percent of the firms manufacturing KIPs will benefit from its support policies, and such firms will push their production value up by 10-12 percent against 2021 and contribute 35-40 percent of the city’s total industrial production and 15 percent of total exports.
To this end, the city is taking six measures, namely improving the business environment for KIP firms, supporting KIP firms in technological development, developing human resource, selecting and honouring KIP, promoting trade and investment, and formulating supportive policies.
Previously, Hanoi honoured 26 products as KIP in 2020 and 46 products this year. So far, the city has recognised 163 products from 107 firms after four years, from 2018 to 2021. For the 2021-2025 period, the municipal authority aims to have 150-180 products recognised as KIP.
The city hopes that KIP recognition would add value to brand names, allowing them to fare better amid the pandemic, and create favourable conditions for development.
Meanwhile, Hanoi’s index of industrial production in November went up 4.8 percent month-on-month and 7.1 percent compared to the same period last year.
More than 200 volunteer programmes launched nationwide
First Secretary of the Central Committee of the Ho Chi Minh Communist Youth Union Nguyen Tuan Anh and Deputy Resident Representative of the UN Development Programme (UNDP) in Vietnam Patrick Haverman (5th and 6th from left) present the National Volunteer Award 2021 to outstanding collectives and individuals. (Source: NDO)
More than 200 volunteer programmes for the community in remote, far-flung and pandemic-hit localities have been launched in recent days in response to the National Volunteer Day 2021, reported Nhan Dan News.
The Central Committee of the Ho Chi Minh Communist Youth Union held a ceremony to observe National Volunteer Day 2021 and the National Volunteer Award on December 5 in both virtual and in-person formats.
National Volunteer Day 2021, themed “Volunteer now for common future”, is an annual activity of Vietnamese youths in response to International Volunteer Day.
The launch of more than 200 volunteer programmes has attracted the participation of nearly 25,000 volunteers who presented gifts to nearly 5,000 needy people and children, mobilised more than 7,000 units of blood to hospitals and various medical equipment to frontline forces, as well as participating in the building of construction works worth nearly 15 billion VND.
At the ceremony, the Central Committee of the Ho Chi Minh Communist Youth Union presented the National Volunteer Award 2021 to 10 collectives and 10 individuals who recorded outstanding achievements in volunteer activities for the community.
First Secretary of the Central Committee of the Ho Chi Minh Communist Youth Union Nguyen Tuan Anh said that after 11 years of implementation, the National Volunteer Award has honoured more than 220 outstanding collectives and individuals, thus contributing to spreading the spirit of volunteerism throughout the entire society.
“The kindness, benevolent heart, sharing, voluntary spirit and dedication of the volunteers will contribute to building a prosperous and happy Vietnam in the future,” Nguyen Tuan Anh noted./.