Vietnam sees first factory inaugurated in Egypt

Tuesday, 16/01/2024 16:14
Vietnam's European Plastics Joint Stock Company (EuP) has inaugurated a factory specializing in producing filler master batch in Sadat city, Menoufaya province of Egypt, marking the first factory of a Vietnamese enterprise in the Middle East country, reported Vietnam News Agency.
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Hossam Heiba, President of Egypt’s General Authority of Free Zones & Investment, visits EuP Egypt Factory. (Photo: VNA)

The EuP Egypt factory was built on an area of more than 34,000 sq.m with an investment of 30 million USD. It is designed to have 24 production lines with a total capacity of 300,000 tonnes a year, creating jobs for more than 300 local workers. Its products will serve the Egyptian market and exports to the Middle East, Africa, Europe and America.

Founded in August 2022 in Egypt with 100% investment capital from Vietnam, EuP Egypt Industries Company, a subsidiary of EuP, has an ambition to expand markets and become a multinational company.

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Vietnamese Ambassador to Egypt Nguyen Huy Dung (second from the right) and Chairman of the Egyptian Investment Management Authority and Processing Zones Hossam Heiba (third from the right) cut the ribbon to inaugurate the factory. (Photo: VNA)

Speaking at the inaugural ceremony on January 15, Hoang Quoc Huy, Chairman of the Board of Directors of EuP, said the EuP Egypt factory is an important step in the company’s expansion strategy, adding that it is a symbol of cooperation and development between Vietnam and Egypt.

Hossam Heiba, President of Egypt’s General Authority of Free Zones & Investment (GAFI), highlighted the significance of the factory as the first project of a Vietnamese enterprise in Egypt, saying it reflects the Egyptian Government's efforts to attract foreign investors.

He affirmed that Egypt will always encourage and protect foreign investors, including Vietnamese ones. He also expected that more Vietnamese businesses will invest in his country.

Vietnam Airlines Group to add over 300 domestic flights for upcoming Tet

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Illustrative image (Photo: VNA)

Vietnam Airlines Group which comprises Vietnam Airlines, Pacific Airlines, and Vietnam Air Services Company (VASCO) has announced an addition of over 66,200 seats, equivalent to more than 310 flights, for the peak Lunar New Year (Tet) holiday from January 25 to February 24, 2024, reported Vietnam News Agency. 

These figures bring its total to about 2.64 million seats and 12,374 flights during the period.

The additional flights will mostly be operated on domestic routes connecting Ho Chi Minh City to Hanoi, Da Nang, Hai Phong, Vinh, Thanh Hoa, Hue, Quang Nam, Tuy Hoa, Da Lat, Cam Ranh, Buon Ma Thuot, Pleiku, and Phu Quoc.

Passengers are advised to proactively book air tickets early in the peak season. They should also carry out check-in process in advance through telephone, website, mobile application, or at kiosks at airports in order to save time.

Hanoi is world’s leading culinary destination in 2024

Hanoi ranked first in the 2024 Culinary Destination rankings voted by TripAdvisor users.

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Hanoi cuisine is always highly appreciated by international media. (Photo: hanoimoi.vn)

Travelers' Choice Best of the Best is a prestigious annual award based on reviews and opinions from TripAdvisor’s travel community.

In the Best Culinary Destination category, Hanoi was honored in the highest order, followed by Rome (Italy), Crete (Greece) and Cusco (Peru). Phuket and Chiangmai cities of Thailand ranked 10th and 17th, respectively, and Kyoto of Japan ranked 22nd.

Last year, dishes in Hanoi were always highly appreciated by international media and domestic and foreign tourists. Some of the top places to eat in Hanoi suggested by TripAdvisor users include: Bun cha Huong Lien, Giang coffee, Thang Long fish cakes, Trang Tien ice cream, Ly Quoc Su Pho, and Bread 25.

Earlier, many traditional dishes of Hanoi were continuously voted by international media agencies and included in must-try lists such as: Pho, bread (banh mi) and spring rolls.

In 2023, the Michelin Guide arrived in Vietnam for the first time and announced a list of 103 recommended restaurants, covering over 20 cuisine types.

Among the 103 recommended restaurants (48 in Hanoi and 55 in Ho Chi Minh City), 4 are recognized with one Michelin Star for their high-quality cooking (3 in Hanoi and 1 in Ho Chi Minh City), and 29 establishments – the inspectors’ best value-for-money - receive a Bib Gourmand for offering good food at moderate prices.

After the Michelin Guide came to Hanoi, Hanoi’s dishes became more widely known.

The Hanoi Department of Tourism said that the unit is planning to coordinate with localities to promote traditional cuisine, moving forward to build a culinary map for the capital to increase its appeal to tourists. Cuisine is also one of 13 areas prioritized by the city to promote cultural industry.

Not only named in the list of the world's leading culinary destinations, Hanoi ranked 4th in the top 25 world destinations in 2024. Hoi An ranked 10th, Bali ranked 2nd, Bangkok ranked 15th and Phuket ranked 8th.

Tuna exports to Canada prosper in end of 2023

Continuing the growth momentum from September, Vietnam's tuna exports to Canada grew continuously in the last months of 2023.

According to recent statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), tuna exports in the first 11 months of the year earned more than 772 million USD, down 19% compared to the same period in 2022. In spite of decline in exports to main markets such as the US and China, exports of this product to the Canadian market increased strongly in the last months of the year.

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In November 2023, tuna export value to the Canadian market increased by 117%. (Photo: congthuong.vn)

In November 2023 alone, tuna export value to Canada increased by 117%. This number has contributed to raising the total export value to Canada in the first 11 months of 2023 to nearly 31 million USD, a decrease of 37% compared to the same period last year.

Citing statistics from the International Trade Center (ITC), VASEP said that in the first 9 months of 2023, Canada’s tuna imports from other countries reached nearly 154 million USD. Vietnam ranked third among the exporters with a market share of 12%, behind Thailand and Italy.

Among tuna products, Vietnam mainly supplies frozen tuna meat and canned tuna to the market, with a proportion of 54% and 40%, respectively. VASEP predicted that in 2023, Vietnam’s exports of these two product groups to Canada both decreased compared to 2022.

Canada was the 12th largest tuna import market in the world in 2022. The import turnover of this market reached more than 272 million USD, an increase of 40% compared to 2021. With this growth, Canada is considered a potential tuna market for Vietnam, especially after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect.

However, tuna exports to the Canadian market are forecast not be able to fully recover in the coming months, especially in the context of increasing consumer credit debt of Canadians and people tightening spending./.

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