Category: Business

Bangkok: The south central coastal province of Khanh Hoa introduced its tourism potential to potential partners in Thailand at a conference held in the Thai capital Bangkok on April 26. At the conference, Vietnamese Ambassador-designate to Thailand Pham Viet Hung said there is great potential of tourism cooperation between Vietnam and Thailand, citing statistics that nearly half a million Thai tourists visited Vietnam and 900,000 Vietnamese travelled to Thailand last year. He held that the signing of MoUs on tourism linkages at the conference will help promote cooperation between the two countries in the field. Vice Chairman of the Thai Chamber of Commerce Pairat Burapachaisri took note of Khanh Hoa's advantages, particularly its Nha Trang city, a popular beach destination for foreign holidaymakers. Saranya Sakontanarak from the Thailand-Vietnam Business Council also said Khanh Hoa is home to many quality tourism destinations, meeting the needs of various segments of tourists. She urged Thai businesses to explore investment opportunities in the Vietnamese province. On the occasion, the Nha Trang-Khanh Hoa tourism association signed an MoU on cooperation with the Thai Tourism Association./. Source: Vietnam News Agency

Ninh Thuan: The south central province of Ninh Thuan must capitalise on its standout strengths, opportunities and competitive edge so as to develop comprehensively, rapidly and sustainably, Prime Minister Pham Minh Chinh said on April 28. Attending a conference to announce the province's master plan during the 2021-2030 period with a vision to 2050, and promote trade and investment, PM Chinh highlighted Ninh Thuan's numerous strengths for development, including a uniform transport system, huge tourism potential with stunning beaches and intact Champa architectural relics, large fishing grounds and great potential for renewables. He hailed the local party organisation, administration, people and enterprises' efforts to carve out robust socio-economic achievements over the past time, with the GDP growth during 2010-2023 reaching 8.6% per year, higher than the country's average, and local livelihoods improved, while pointing out several challenges facing the province such as extreme natural conditions, drought , limited investment, infrastructure lacking connectivity, and human resources failing to meet requirements of the socio-economic developments. The Government leader underscored the five breakthroughs for development as named in its master plan, which are renewable energy, tourism, processing, manufacturing, hi-tech agriculture and realty, requesting the province to mobilise and effectively use all legal resources to bolster traditional growth locomotives, create new ones, and enhance investment in human resources. PM Chinh asked the province to carry out its master plan in line with the national, regional and sectorial planning, push ahead investment strategic in infrastructure to respond to climate change, and prioritise resources to harmoniously develop sea-based economy, urban economy, tourism economy and heritage economy in the green, digital and circular direction. Along with bolstering economic cooperation with localities in the vicinity, Ninh Thuan must pay due attention to developing high-quality human resources and giving priority to potential areas such as tourism and renewables, he said, asking the province to enhance capacity for climate change adaptation and environmental protection, improve investment climate, and make meticulous preparation for attracting large and potential investors. 'Ninh Thuan should popularise its master plan to garner support from local people, enterprises and investors', he stressed, instructing provinces, cities, ministries and sectors to assist Ninh Thuan to effectively implement its master plan. Under the province's master plan, Ninh Thuan will become an upper-middle income province in the country by 2030, and a locality with comprehensive, fast and sustainable development and diverse economy by 2050. At the conference, Ninh Thuan province introduced its potential, strengths, incentives, and priorities for development to domestic and foreign investors, aiming to call for investment in 55 projects in the five priority domains of renewables, high-quality tourism, pro cessing and manufacturing, smart agriculture and real estate. On the occasion, the province also presented investment policy certificates and investment licences, and signed MoUs on developing 14 large projects worth more than 120 trillion VND (4.73 billion USD) with investors./. Source: Vietnam News Agency

Hanoi: The cinnamon sector needs to issue a reform strategy to keep Vietnam's position as the world's biggest cinnamon exporter, which it has held since 2021. Last year, Vietnam exported nearly 90,000 tonnes of cinnamon to earn over 260 million USD, up 14.6% in volume, but down 10.7% in value compared to 2022. The average price reached 2,918 USD a tonne, down 22.1% year-on-year. India was the main importer of Vietnamese cinnamon with more than 38,000 tonnes, accounting for 42.6%. It was followed by the US with more than 10,100 tonnes, and Bangladesh nearly 6,000 tonnes. In the first two months of this year, Vietnam pocketed 30 million USD from shipping 10,500 tonnes of cinnamon abroad. Hoang Thi Lien, president of the Vietnam Pepper and Spice Association (VPSA), said that over the past time, farmers have continuously developed new farming techniques to improve the quality and productivity of cinnamon trees. In addition, production linkage models between businesses and farmers have been increasingly implem ented to gradually expand sustainable raw material areas. Vietnam has dozens of companies investing in modern cinnamon processing lines for more quality products to meet market requirements. Among the 16 signed free trade agreements, there are many new generation ones such as the EU-Vietnam FTA, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP) that have helped Vietnam have an advantage over some other countries in terms of tax. This is a very favourable condition and opportunity for Vietnamese cinnamon products to advance further in the international market. Currently, Vietnamese cinnamon has been exported to nearly 100 countries around the world, accounting for 95% of the market share of the Indian market, 36.5% of the US and 35% of the European market. However, the export rate of processed cinnamon accounts for only 18.6%, or 18,659 tonnes, of which 70% is exported to the US, and 12% to Europe. Therefore, the se ctor will continue to improve post-harvest and processing quality to increase exports to demanding markets in Europe and the US. It will step up trade promotion activities, build brand identity on a national scale, encourage public private partnership models and seek support resources and policy consultations in a long-term strategy of turning Vietnam into the leading sustainable cinnamon supplier in the world./. Source: Vietnam News Agency

Chanthaburi, The Deputy Director-General of the Department of Internal Trade visited the area to inspect the scales used for purchasing durian at the durian purchasing station in Tha Mai District, Chanthaburi Province, hoping to maintain fairness for farmers. Second Lieutenant Chakra Yodmanee, Deputy Director-General of the Department of Internal Trade Revealed after bringing officials of the Chanthaburi Provincial Commerce Office and the Office of Weights and Measures District 4-2 (Chanthaburi) went to the area to inspect the scales used in purchasing durian at the company's durian purchasing gallery. Bao Heng San He Co., Ltd. and Thammasorn Durian Stand 789, Tha Mai District, Chanthaburi Province, said they have ordered the Weights and Measures Branch Office in the Eastern Region to mobilize officials to inspect car scales. spring scale and digital scale used for purchasing fruit since March Before the produce hits the market during April-May. To maintain fairness for farmers in selling their produce. In addition to maintaining a good price level at this time, this is in accordance with the policy of the Deputy Prime Minister and Minister of Commerce (Mr. Phumtham Wechayachai). In this regard, the Ministry of Commerce has ordered the Chanthaburi Provincial Commerce Office Rayong Provincial Commercial Office and Trat Provincial Commercial Office Publicize and inspect the posting of signs showing the purchase price of fruits such as durian, mangosteen, and rambutan in accordance with the announcement of the Central Committee on Prices of Goods and Services No. 66 B.E. 2023 on displaying the purchase price of agricultural products. That requires business operators who are collectors of packing plants (Long) to clearly display the purchase price by 8:00 a.m. every day or as soon as the purchase opens in front of the purchase point. So that farmers are informed and can compare purchase prices. Including the price must be displayed in accordance with the actual purchase. The Deputy Director-General of the Departme nt of Internal Trade emphasized on officials to be more strict during the evening hours. This is the time when farmers bring a lot of their produce to sell. This is because produce is usually harvested and gathered in the morning and during the day. However, we would like to urge the collectors and langgers to strictly abide by the law. In the case where the purchase price is not displayed Must be punished with a fine not exceeding 10,000 baht and in the case of cheating on the scale. Must be punished with imprisonment not exceeding 7 years and a fine not exceeding 280,000 baht for fellow farmers who do not receive fair treatment in selling their produce. Complaints can be reported via the Department of Internal Trade hotline, calling 1569, provincial commercial offices nationwide. or the Weights and Measures branch office in the responsible area.-514 Source: Thai News Agency

Nonthaburi, The Department of Internal Trade receives the son of "Seththa-Phumitham" to take care of fruit growers. Coordinate with operators of department stores and gas stations to make contracts to buy and sell mangosteen from farmers in 18 sub-districts, 10 districts, 3 provinces, quantity 22,500 tons, sold through department stores, gas stations and mangosteen caravans. I ask fellow citizens to help and support them wherever they see them. To help farmers Revealed that they have also set up a war room to closely monitor the situation. Where there is a problem, send a horse quickly to handle it immediately. Mr. Wattanasak Sueaiam, Director-General of the Department of Internal Trade The Ministry of Commerce revealed that the department has implemented the policy of Mr. Settha Thavisin, Prime Minister and Minister of Finance. who have been ordered to take care of the price of fruit and Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce who have ordered fruit management according to fruit management measures for the year 2024, which has a total of 6 guidelines and 25 measures, today in coordination with department store operators retail, wholesale gas station Let's make standard agreements and link production. with mangosteen farmers in Chanthaburi, Trat and Rayong provinces, totaling 18 sub-districts, 10 districts, amounting to 22,500 tons and distributing 1,000 tons through gas stations. Another part will be sent in mangosteen caravans to sell to people in the Bangkok area, another 80 tons. After the mangosteen production contract has been made between the entrepreneur and the farmer. Container caravans, trucks, and pickup trucks have been released that will be distributed to various points, including retail and wholesale department stores across the country. which accelerates the release of production immediately Including going to promote farmers with large plots and quality mangosteen groups. Produce is sold directly and through online channels as well. 'I would like to leave this to the people. If you see mangosteen anywhere, you can buy and eat it right away. It is considered to help fellow farmers who grow mangosteen. Because now it's mangosteen season. The department will continue to take care of prices for farmers. According to Mr. Settha's policy and Mr. Phumtham that gives importance to taking care of fruit growers We will use every measure to help farmers have distribution channels and not be underpriced,' Mr. Wattanasak said. In addition, a war room will be established to monitor the fruit situation. Including fruits from the eastern, southern, northern, and central regions. If any problems are found, they will take care of them immediately. Including coordinating the commerce of all provinces that are sources of fruit production. Visit the area to inspect trading Price situation closely To prevent farmers from being taken advantage of on scales, price suppression, and not posting signs showing the purchase price. If seen, you can report it to the Department of Internal Trade hotline 1569. Officials will be sent to investigate. And if any mistake is found, legal action will be taken immediately.-514 Source: Thai News Agency

Yunnan Province, April 28 - 'Bhumitham' reveals next week's Cabinet meeting. Postpone for now. Waiting for the new minister to take the oath of office before taking office. Expect a new Cabinet meeting next week. and will arrange a meeting with the 2 Deputy Ministers of Commerce to divide the supervision work again. After His Majesty the King graciously appointed a new Cabinet. With the name of Mr. Suchart Chomklin as the new Deputy Minister of Commerce, Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, said that in his previous work he had talked about the division with Mr. Naphinthorn. Srisanpang, Deputy Minister of Commerce, oversees that work which is the key to solving problems directly takes care of the people. Both the Department of Foreign Trade Department of Internal Trade This is a department that takes care of solving problems for the people immediately. Including the Department of International Trade Promotion that takes care of the export part Warehouse Organization: The se 4 departments are in charge of The rest is Minister Naphinthorn's responsibility. However, when a new minister arrives, there must be a discussion about the division of labor. By talking with both of them, there shouldn't be a problem. Yesterday, Mr. Suchat The new Deputy Minister of Commerce called him and said he was glad to be working together. He said he was happy and thought there would be no problem. We are straight people. Able to say anything that brings harmony and coordination, making everything that is a problem go away. I think there should be no problem with Minister Suchat. Minister Naphinthorn and himself are already familiar with each other. It's nice to work with. However, the Cabinet meeting this coming week has been postponed. To wait for the new minister who has been graciously appointed by the King. Come in and take the oath of allegiance before performing duties. So you can perform your duties. It is up to Him to determine the appropriate time. We cannot know in advance. So the meet ing was postponed. The Cabinet leaves a week ago. Many matters of the Ministry of Commerce that were expected to be presented this week will wait another week.-514 See more news Source: Thai News Agency

Bangkok: SLKC notifies the Prime Minister to cancel the Cabinet meeting on Tuesday, 30 Apr., with a royal command to remove ministers from the position of ministers and appoint new ministers. Reporters reported that The Secretariat of the Cabinet (SLOC) notifies all ministers. and officials Concerning the Royal Command to relieve ministers from being ministers and appoint new ministers. According to the Royal Gazette announcement on April 27, 2024, the Prime Minister has therefore canceled the Cabinet (Cabinet) meeting on Tuesday, April 30. For Tuesday, April 30, Mr. Settha Thavisin, Prime Minister, is scheduled to be the Chairman of the Police Civil Service Commission (PRC) No. 3/2024 at 3:00 p.m. at Sriyanont Conference Room, Floor. 1 Building 1 Royal Thai Police Office (Police) . Source: Thai News Agency

Seoul: Lotte Mall West Lake Hanoi, invested by the Republic of Korea (RoK)'s Lotte Group, welcomed 6 million visitors from its inauguration in September, 2023 to late March, the RoK's Dong-a Ilbo newspaper reported. This mega commercial complex took only 122 days to surpass the 100 billion KRW (72.5 million USD) mark in revenue. Currently, an average of 30,000 people come to this shopping center every day on weekdays and more than 50,000 at weekends. The inauguration of the Lotte Mall West Lake Hanoi, which brings together 233 famous foreign and Korean brands, has taken advantage of the influence of the "Korean wave" (Hanllyu) to quickly attract Vietnamese youth, thereby contributing to economic development and cultural exchanges between the two countries, the newspaper wrote. Vietnam, as a potential consumer market, is increasingly attractive to international brands. Mordor Intelligence, a global market research company, predicts that Vietnam's retail market will grow at an average annual rate of 12.1% s tarting this year to reach about 435.6 billion USD by 2028. The Lotte Group started constructing the 787-billion-KRW centre in 2018, with a purpose of establishing a Lotte Town in Vietnam, and providing Vietnamese citizens with a premier shopping destination and an unparalleled Asian shopping experience. The Korean group began its supermarket business in Vietnam and Indonesia in 2008. To date, it has had 64 stores throughout Vietnam and Indonesia, and is planning to expand its system to Malaysia, Singapore and Cambodia./. Source: Vietnam News Agency