Malaysia News Gazette

Hanoi: Vietnam’s agricultural products were sold well in foreign markets in Q1, with a surge in both volume and prices documented.

According to the Ministry of Agriculture and Rural Development (MARD), durian exports brought home 254 million USD in the first three months of the year, shooting up 66% against the same time last year.

Vietnam shipped some 32,750 tonnes of the fruit worth 161 million USD to China during January – February, overtaking Thailand to become the largest exporter of the staple to the northern neighbour.

The country accounted for nearly 60% of the total market share of durian in China, well above the 32% in 2023.

Within less than two years, Vietnamese durian made a giant stride in the market of more than 1 billion consumers, and the fruit is expected to maintain its reign in this market for a long time thanks to bumper crops, competitive prices, and rapid transportation.

In the same vein, coffee has been on its heyday after more than 30 years reaching out to the European market. The
country gained nearly 1.9 billion USD from exporting 800,000 tonnes, up 54.2% in value and 44.4% in quantity year-on-year.

As coffee bean is now sold at around 4,000 USD per tonne, it is possible to achieve the set target of 5 billion USD in export revenue this year, experts have said.

Meanwhile, Vietnamese banana has won the taste of the Republic of Korea, China’s Hong Kong, and Japan, among others. Vietnamese fresh banana has hit the shelves of more than 90 AEON stores in Hong Kong while the Philippines, China’s Taiwan, and Singapore were the main supplier previously.

Rice made a great contribution to Vietnam’s farm produce export growth in the three-month period. More than 2 million tonnes were shipped abroad for 1.37 billion USD, a year-on-year rise of 12% in volume and 40% in value.

Vietnam, among the world’s top three rice exporters, is pinning a high hope for rice export this year, given its stable production and India’s export ban.

Besides, the export of Vietnamese fishery products made a breakth
rough in the period with nearly 1.9 billion USD in revenue, up nearly 2% from the same time last year. The items have been in the shopping list of consumers in 170 countries and territories.

Japan, the US, and China are the key markets of Vietnamese fishery products. Particularly, Vietnam has surpassed its rivals such as Ecuador, India, and Indonesia in shrimp shipments to China.

Experts held that they should zone off quality cultivation area, strictly comply with food safety and hygiene standards and quarantine requirements of fastidious markets, and build brands for their products./.

Source: Vietnam News Agency

Hanoi: The planning for 30 airports, both international and domestic, is expected to be completed by 2025 under a master plan on airport development for 2021-2030 with a vision towards 2050.

The Ministry of Transport recently proposed the Prime Minister approve plans, policies, and solutions to materialise the master plan.

Accordingly, the ministry will focus on major projects and prioritise investments in those that play a crucial role in the Hanoi capital region’s socio-economic development, and international integration, specifically Noi Bai International Airport, and the Ho Chi Minh City region, referring to Tan Son Nhat and Long Thanh International Airports.

Among the 30 airports, 14 are international, namely Van Don, Cat Bi, Noi Bai, Tho Xuan, Vinh, Phu Bai, Sa Nang, Chu Lai, Cam Ranh, Lien Khuong, Long Thanh, Tan Son Nhat, Can Tho, and Phu Quoc.

The research and planning for Cao Bang airport, the second in the Hanoi capital region, and Hai Phong International Airport are set to be done in the 2026-
2030 period.

The total investment for airport infrastructure, excluding the projects invested by Vietnam Air Traffic Management Corporation (VATM), for 2021-2030 is estimated at about 420.5 trillion VND (16.7 billion USD).

To attract such capital, the ministry proposed the phased allocation of the state budget as approved, saying relevant ministries, agencies, and localities should step up coordination in the work, and social sources in the form of public-private partnership (PPP) be maximised.

Apart from policies on investment, human resources development, scientific-technological application, and aviation development, more attention should be paid to social welfare, environmental protection, and national defence and security, it said./.

Source: Vietnam News Agency

Vinh Phuc: Many Singaporean enterprises are interested in opportunities for cooperation with Vinh Phuc in such areas as education, health care and tourism, Singaporean Ambassador to Vietnam Jaya Ratnam said during a working visit to this northern province on April 15.

He said that the Vietnam – Singapore relations have made great strides with deep political trust and growing economic and trade ties.

Currently, he noted, Singapore is one the three biggest foreign investors in Vietnam. In Vinh Phuc alone, the city state has invested nearly 500 million USD in 12 projects. In particular, its YCH Group’s SuperPort dry port project, carried out in coordination with Vietnam’s T and T Group, has become a success symbol of the two countries’ mutually beneficial cooperation.

The ambassador emphasised that Singapore is committed to strengthening cooperation with the province in training high-quality human resources. In the next five years, it is ready to support Vinh Phuc to train and improve the capacity of about 50
0 cadres and skilled workers, especially in the field of logistics.

Ratnam also called on Vinh Phuc to provide optimal conditions for Singaporean investors to effectively implement investment, production and business projects in the province.

At the meeting, Secretary of the Vinh Phuc provincial Party Committee Duong Van An applauded cooperation activities between the province and Singapore, which have contributed to the extensive ties between the two countries. He highlighted many investment projects of Singaporean enterprises in Vinh Phuc as well as cooperation potential and opportunities in various fields in the coming time.

He hoped that the ambassador will keep acting as a bridge to further strengthen Singapore’s relations with Vietnam in general and Vinh Phuc in particular, and assist Singaporean firms to come and seek investment opportunities in the province.

He affirmed that Vinh Phuc will direct relevant agencies and closely coordinate with the Government, ministries and central agencies to remov
e difficulties and obstacles to facilitate Singaporean projects. At the same time, the province will also discuss with the Singaporean side to secure closer cooperation in human resources training to meet local development demand./.

Source: Vietnam News Agency

Binh Duong: The Horasis China Meeting 2024 themed ‘Vietnam and China drive ahead’ opened in the southern province of Binh Duong on April 15.

The international event, co-organised by the provincial People’s Committee and the Horasis economic forum, the Becamex IDC Corporation, and the China Federation of Industrial Economics, marked a step forward in promoting economic cooperation between Vietnam and China, thus opening up great opportunities for breakthroughs in new investment cooperation potential.

Deputy Prime Minister Tran Hong Ha said that the meeting creates an opportunity for all parties to share vision, seek opportunities, and strengthen cooperation in innovation, sustainable development, and science and technology.

It is not only a good chance for Binh Duong to promote the image of the province in particular and Vietnam in general to international friends, but also an opportunity for international businesses to learn about Binh Duong as an attractive, reliable investment destination, and a land wor
th living in, with long-term development and investment efficiency.

The Vietnamese Government will always listen to and create good mechanisms for investors, Ha said. Initiatives shared at the meeting sessions will help the Government build adaptive policies for integration for the future of the world, including strengthening connectivity and cooperation for the common development goal not only in Vietnam but also over the globe.

Chairman of the provincial People’s Committee Vo Van Minh said that by hosting the Horasis China Meeting, Binh Duong hopes to find important solutions, create favourable conditions for entrepreneurs to access development strategies, and intensify new cooperation to promote economic development.

On this occasion, Binh Duong granted investment approval decisions and investment registration certificates to 17 domestic- and foreign-invested projects./.

Source: Vietnam News Agency

Hanoi: Prime Minister Pham Minh Chinh has recently signed an official dispatch requesting drastic, synchronous and effective measures to ensure stable power supply during this year’s peak period and beyond.

The upcoming dry season, spanning from May to July, is anticipated to witness a significant surge in electricity consumption demand, projected to rise by 13%, surpassing the initial forecast of 9.6%. Specifically, the northern region is expected to see an annual record rise of 17%.

The Minister of Industry and Trade was asked to direct the drastic implementation of the Government’s resolutions, the PM’s directives, official dispatches and guidelines, and the approved plan for electricity supply and operation of the national power system for 2024.

This includes enhancing State management, intensifying inspection and supervision over the management and operation of the national power system to ensure its safety and effectiveness.

Mechanisms and policies for direct electricity trading between power genera
tion units and major electricity consumers; development of rooftop solar energy installations at residential homes, government buildings, and self-producing, self-consuming industrial parks; gas power, offshore wind and coastal wind energy; must be promptly completed and submitted to competent authorities before April 30.

Electricity saving measures as specified in the PM’s directive for the 2023 – 2025 period and subsequent years must also be adopted.

Specific tasks were also assigned to other ministries, Vietnam Electricity, chairpersons of the centrally-run municipal and provincial People’s Committees./.

Source: Vietnam News Agency

Hanoi: Bach Hoa Xanh, a subsidiary of Mobile World Investment Corporation (MWG), recently announced that it has successfully completed a private placement deal to sell a 5% stake to CDH Investment.

According to the initial plan, Bach Hoa Xanh had aimed to sell a maximum of 20% of its capital. However, the company has stated that due to positive cash flow and improved business performance, there is no longer a need to proceed with the sale as initially planned.

The value of the deal was not disclosed, but it mentioned that the funds would be utilised for operational activities and business expansion.

Bach Hoa Xanh is a retail chain specialising in food and essential consumer goods, operating under MWG.

Established in 2015, the chain was expected to generate billion-dollar revenues and lead the domestic consumer retail sector. However, in its early stages, the company experienced continuous losses, accumulating a total of 8.3 trillion VND (332.6 million USD) in losses by the end of the previous year.

Howev
er, in the first two months of the year, Bach Hoa Xanh experienced the highest growth rate among the Mobile World systems. The chain achieved a revenue of nearly 6.1 trillion VND, up 47% year-on-year.

Despite operating for fewer days in February due to the Lunar New Year holiday, each Bach Hoa Xanh store generated an average revenue of 1.8 billion VND. With the impressive performance, the chain has successfully reached its expected breakeven point as planned.

Meanwhile, CDH Investment, established in 2022 and headquartered in Beijing, is among the first private equity fund management firms in China. It is well-known for its involvement in traditional sectors such as consumer goods and manufacturing. With over 27 billion USD in assets under management, the firm has invested in more than 350 companies across various industries./.

Source: Vietnam News Agency

Binh Duong: The Horasis China Meeting 2024, held in Binh Duong on April 15, witnessed a flurry of investment activities as the southern province granted in-principle approvals and investment certificates to multiple infrastructure, manufacturing, and real estate projects worth hundreds of millions of USD.

Accordingly, infrastructure investment approvals were given to the An Son dry port project by the Thanh Le Import-Export Trading Company, the Tam Lap 2 industrial cluster by the Trung Hau Co. Ltd, and the An Lap industrial cluster by the An Lap infrastructure development limited company, with respective investment capital of 1.504 trillion VND (59.69 million USD), 585 billion VND, and 456 billion VND.

In the real estate sector, a series of projects received the green light, including The One World residential project worth over 14.8 trillion VND and several social housing projects.

Furthermore, the provincial authorities issued investment certificates to several FDI enterprises including Kiswire Vietnam,
Protron Electrical, and Vorxen Electrical, with their investment totaling 22.7 million USD, 26 million USD, and 22 million USD, respectively.

At the forum, Binh Duong also entered a cooperation agreement with the Viettel Post Corporation on developing infrastructure, logistics services and e-commerce, and setting up an international-scale green and smart logistics and agricultural trade centre. Additionally, Becamex IDC and Hong Kong-based Sunwah Group signed a memorandum of understanding on innovation, digital transformation, technology development, and sustainable growth towards the net zero goal.

On the sidelines, Deputy Prime Minister Tran Hong Ha received Xiong Meng, Executive Vice-Chairman and Secretary-General of the China Federation of Industrial Economics (CFIE), as well as representatives of many major Chinese corporations.

Highlighting the Vietnamese Government’s commitment to creating favourable conditions for foreign enterprises, including those from China, in their investment and business ope
rations in Vietnam, the leader stressed the importance of collaboration in science and technology, green development, and digital transformation.

For his part, Xiong affirmed his strong support for enhancing economic ties between the two nations via bringing more Chinese enterprises to Vietnam. He also showed a special interest in Binh Duong, which he considered a prime location for industrial cooperation opportunities.

Ha said the special traditional friendship and comprehensive strategic cooperative partnership between Vietnam and China have been continuously consolidated and deepened, particularly in the economic sphere, with the sides now discussing further joint work in green energy, climate change, and carbon-neutral initiatives.

Additionally, the Deputy PM met with a number of German and European business delegations, affirming Vietnam’s support to them for successful, effective, and sustainable investments.

In response, Urs Unkauf, Federal Managing Director of the German Federal Association for Ec
onomic Development and Foreign Trade, lauded the increasingly favourable business climate in Vietnam and expressed his significant interest in expanding operations in the country, particularly Binh Duong./.

Source: Vietnam News Agency