Day: November 1, 2021

They said in the third quarter, the Vietnamese economy still suffered negative impacts of the fourth pandemic wave. Data from the General Statistics Office showed that the country’s gross domestic product (GDP) only moved up 1.42 percent annually in three quarters due to prolonged social distancing nationwide, resulting in supply chain disruptions and suspension of factories.

However, the Ministry of Planning and Investment reported that foreign direct investment in three quarters still rose by 4.4 percent to nearly 22.15 billion USD year-on-year. Merger and acquisition deals involving real estate development were also recorded.

The northern provinces of Bac Giang and Hung Yen approved industrial parks covering 800ha and 193ha, respectively. According to the Ministry of Natural Resources and Environment, the area of industrial land will increase by 115,000ha by 2030 compared to 2020.

Savills Vietnam: industrial property, ready-built factories remain top choice hinh anh 2

Illustrative image (Photo: VNA)

Managing Director of Savills Vietnam Neil MacGregor said infrastructure investment is important to open new markets, thus meeting demand for real estate investment among the growing middle-income class in Vietnam.

He added that as economic recovery could take years, it is good time to buy quality products, especially in major cities and resort destinations.

Source: Vietnam News Agency

With the encouragement of the Farmers’ Union of Thai Binh city in the northern province of Thai Binh, its members have set up and taken part in many cooperative groups to boost crop and animal production, which has proved highly effective.

Raising different animals on 2 hectares of land, Bui Van Khang, a resident in Tong Tho Trung hamlet of Dong My commune, currently owns three chicken farms covering over 3,000 square metres while the remaining area is used for pisciculture and herb cultivation.

Since joining the animal production cooperative group of Dong My commune, he has participated in training courses, accessed scientific and technical advances, learned from others’ experience, and got help to improve farming techniques.

That has helped his family earn nearly 1 billion VND (43,600 USD) in revenue per year.

Established in 2017, the animal production cooperative group of Dong My commune now has over 50 members.

The group’s management board has kept coordination with local animal health workers to monitor the farming process and prevent diseases on livestock and poultry.

The farmers’ union of Dong My commune has held quarterly meetings to share animal farming experience and help members boost sales. It has also assisted 192 members to get more than 6.7 billion VND in loans to fund animal husbandry, organised classes to transfer scientific – technical advances, provided vocational training, and introduced jobs to its members.

Tran Thi Hien, Vice Chairwoman of the Farmers’ Union of Thai Binh city, said the union is managing six production cooperative groups with over 300 members, noting that the participation in such groups will enable farmers to assist one another, thus facilitating sales and loan access.

In the time ahead, the union will further promote communications to encourage more farmers to take part in cooperative groups, she added.

Source: Vietnam News Agency

A total of 4,304 companies resumed their operations in October, up 29.8 percent against September, and down 14.7 percent year-on-year, according to the General Statistics Office.

In the month, Vietnam saw 8,233 new enterprises established, with a total registered capital of 108.6 trillion VND (4.77 billion USD) and 58,800 labourers, up 111.2 percent in quantity, 73.9 percent in capital, and 17.9 percent in the number of employees compared to those of September.

However, the figures were still down 32.5 percent in quantity, 34.4 percent in capital, and 18.8 percent in the number of labourers compared to those of the same period last year.

In October, 3,492 firms suspended operations, up 55.9 percent month-on-month; 3,048 stopped operation pending completing dissolution procedures, up 21.5 percent; and 806 units completed dissolution procedures, up 33 percent.

In the first ten months of 2021, 93,700 new companies were set up, with a combined capital of nearly 1.3 quadrillion VND and 707,700 employees, down 15.7 percent in the number of firms, 18.2 percent in capital and 16.8 percent in the number of labourers year-on-year.

In the period, 35,300 firms resumed operations, down 6.3 percent year-on-year. Meanwhile, 48,500 companies temporarily ceased operation for fixed period; 35,000 others stopped operation awaiting to complete dissolution procedures; and 13,600 firms dissolved, up 16 percent, 15.7 percent and 0.8 percent year-on-year, respectively.

To help businesses overcome difficulties, the Government issued Decree No. 92/2021/ND-CP dated October 27 detailing the implementation of Resolution No. 406/NQ-UBTVQH15 of the National Assembly Standing Committee on solutions to support businesses and people affected by the COVID-19 pandemic.

The decree outlines four groups of tax exemption and reduction measures, including reducing corporate income tax payable in 2021 for businesses , organisations with a revenue of no more than 200 billion VND and a decrease in revenue in 2021 compared to 2019; tax exemption (personal income tax, value-added tax and other taxes) in the third and fourth quarters of 2021 for business households and individuals that have production and business activities in district-level localities affected by the pandemic in 2021; reductions in value-added tax rates for groups of goods and services in various industries; and exempting late payment interest arising in the 2020 and 2021 for businesses and organisations that saw losses in 2020

Source: Vietnam News Agency

The Korean Tourism Organisation (KTO) in Vietnam has released a special music video dedicated to frontline workers in Vietnam’s COVID-19 fight.

The MV entitled ‘Way back home’ was based on a famous song of the same name by RoK singer Shaun and the Vietnamese lyrics were composed by songwriter Chau Dang Khoa.

The song was performed by 12 artists and bands of Vietnam, including Ho Ngoc Ha, Dong Nhi and Ong Cao Thang, Uni5 and Lip B.

The video features the implementation of the 2021 Korea Love Box campaign with the message ‘Give love, give strength’, which presents gifts to medical workers at some Vietnamese hospitals; and the medical workers’ efforts to take care of patients at COVID-19 treatment hospitals.

Source: Vietnam News Agency

Vietjet and Rolls-Royce has signed an agreement to provide engines and engine services for the airline’s coming wide-body fleet with a total value of approximately 400 million USD.

The signing ceremony was witnessed by Vietnam’s Prime Minister Pham Minh Chinh and high-ranking dignitaries of Vietnam and the United Kingdom during the Prime Minister’s attendance at COP26, the 26th United Nations Climate Change Conference of the Parties.

Ewen McDonald, Chief Customer Officer, Rolls-Royce Civil Aerospace said: “We are thrilled that Vietjet has chosen our Trent 700 engines to support their fleet development. The Trent 700 has the lowest lifetime fuel burn and the best economics on its aircraft type. In addition, our TotalCare service will help Vietjet maximise the value of its engine assets and increase time-on-wing performance. We look forward to working with Vietjet as they expand their geographical footprint.”

The Trent 700 is the only engine specifically designed for this wide-body aircraft and is widely recognised for its outstanding efficiency and reliability. Since its launch in 1995, the Trent 700 has logged more than 60 million hours in service.

Vietjet Managing Director Dinh Viet Phuong said: “Vietjet is delighted to have this very first and meaningful partnership with Rolls-Royce. We believe that the Trent 700 engines will bring a technology breakthrough to Vietjet’s fleet, helping improve flight range and quality and thereby boosting our aircraft’s technical reliability and operational efficiency. The engines are also expected to make our fleet more synchronous. We hope this partnership will also contribute to trade promotion between Vietnam and the UK, creating more jobs for people and businesses of the two countries while making the connectivity between continents more convenient and economical in the future”.

With a comprehensive network in Vietnam and Asia Pacific, Vietjet looks to further expand its wings across continents thanks to its new and modern fleet in the coming time.

Rolls-Royce operates in various segments including power systems, aerospace and defence. It has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers.

Known as a new-age carrier, Vietjet has not only revolutionised the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations, and performance, the carrier offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with 7 stars in 2018 and 2019 by the world’s only safety and product rating website airlineratings.com and listed as one of the world’s 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.

Source: Vietnam News Agency

Vietjet and world-leading insurance brokers Gallagher (UK) Limited and Willis Towers Watson Limited have signed a reinsurance certificate covering the airline’s entire fleet globally on the sidelines of the 26th United Nations Climate Change Conference of the Parties (COP26) in the UK.

The event was witnessed by Vietnam’s Prime Minister Pham Minh Chinh and high-ranking dignitaries of Vietnam and the United Kingdom; Vietjet Managing Director Dinh Viet Phuong; Gallagher Limited UK Senior Partner in aerospace Martin Trumper and Willis Towers Watson Limited Managing Director in aviation James Coventry.

Vietjet’s reinsurance certificate for its fleet has been updated and renewed annually since the airline’s first took-off in late 2011. The newly signed deal is worth 20 million USD, covering Vietjet’s entire fleet of aircraft registered in Vietnam and abroad.

With a comprehensive network in Vietnam and Asia Pacific, Vietjet looks to further expand its wings across continents thanks to its new and modern fleet in the coming time.

Gallagher is a global leader in broking, risk management and consulting services. Established in 1927, it has a global network of 30,000 expert advisors in more than 150 countries. The supporting broker Willis Towers Watson Limited is a leading global advisory, broking and solutions company. With roots dating to 1828, it has 45,000 employees serving more than 140 countries and markets.

Known as a new-age carrier, Vietjet has not only revolutionised the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations, and performance, the carrier offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with 7 stars in 2018 and 2019 by the world’s only safety and product rating website airlineratings.com and listed as one of the world’s 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.

Source: Vietnam News Agency

Japan’s Wakayama prefecture has committed to creating favourable conditions for local enterprises to invest in Vietnam, the Vietnamese Consulate General in Osaka said on November 1.

Wakayama Mayor Nisaka Yoshinobu told Vietnamese Consul General Nguyen Hong Ha during their recent meeting that the prefecture will create a favourable legal corridor for Japanese investors, while proposing the Consulate General support his prefecture in promoting tourism and tangerine exports to Vietnam.

Ha, in turn, told the host that the Vietnamese Government has had new stances and measures to enhance pandemic prevention and control and economic recovery and development, and assist both domestic and foreign enterprises in recovering production and maintaining the supply chain.

He also suggested Wakayama authorities pay attention to supporting local businesses to invest in Vietnam in the fields of animal husbandry, farming, seed production and processing of agro-forestry-fishery products, and to cooperation in organising seminars and exchange events to provide detailed information for Japanese businesses and promote linkages between the two sides’ businesses.

Also within the framework of his working trip to Wakayama prefecture, Consul General Ha visited Aridagawa town, which has the highest yield and quality of tangerines in Japan. The Aridagawa authorities said the town is facing many difficulties because of the shortage of labour force, and expressed their desire to receive more Vietnamese interns.

Source: Vietnam News Agency