Category: Business

Hanoi: From now to early 2025, Vietnam Machinery Installation Corp (LILAMA) will export to Saudi Arabia four electrolyser modules on average each month, which are used to produce green hydrogen, its General Director Le Van Tuan has announced.

The corporation will continue to sign a contract on supplying such modules, each equal to 100 containers, in early next year, which affirmed its position in global green energy supply chains, Tuan said.

In 2023, LILAMA completed a package of manufacturing and installing mechanical equipment for the A/U fertiliser factory project located in Brunei’s Sungai Liang Industrial Park – SPARK with German contractor Thyssenkrupp Industrial Solution AG (tkIS).

The A/U fertiliser project has a main factory area of about 23ha and a 3.3km wharf with a total investment of 1.3 billion USD. It was designed to produce 2,200 tonnes of NH3 and 3,900 tonnes of urea daily.

That is also LILAMA’s first project constructed abroad with a complete scope of work including supply of materials,
arrangement, supply of human resources, and construction machinery. LILAMA is also the first Vietnamese contractor to carry out a project with such scope of work abroad.

Thanks to the success of the project, Thyssenkrupp Industrial Solution AG (tkIS) trusted and continued to offer LILAMA a new contract for manufacturing green equipment.

Early this month, at the LILAMA Green Hydrogen Module Complex and Manufacturing Factory in Thuy Nguyen district of Hai Phong city, the corporation handed over the first shipment to the Neom green hydrogen project in Saudi Arabia.

LILAMA completed the manufacturing, assembly, acceptance, packaging, and export of the first four electrolysis modules out of a total of 110 modules under the signed contract.

The Neom green hydrogen project in Saudi Arabia is the largest one of its kind in the world with a total investment of more than 8 billion USD, using 100% renewable energy from wind and solar power projects to provide up to 600 tonnes of green hydrogen per day to replace
fossil fuels and reduce global CO2 emissions.

It is expected that LILAMA and Thyssenkrupp Nucera will complete the supply of electrolysis modules for the Neom Green Hydrogen project in the third quarter of 2025.

At the same time, they will continue to jointly deploy the next green hydrogen projects for European, North American, and Middle Eastern markets./.
Source: Vietnam News Agency

An Giang: The Mekong Delta province of An Giang has recently proposed to the Ministry of Planning and Investment to consider supporting the local authorities in building a logistics centre at the Tinh Bien International Border Gate in Tinh Bien town, according to Vice Chairman of the provincial People’s Committee Le Van Phuoc.

Covering an area of 25.1 ha, the project is estimated to have total investment of 239 billion VND (over 9.8 million USD) sourced from the State budget. It will be implemented from 2024 to 2027.

Phuoc said that the project aims to fully tap the advantages for the development of logistics, trade, and services at the border gate; promote the role of international border gates in connecting the Mekong Delta region and Cambodia’s Phnom Penh capital city.

It is also expected to intensify trade connection; and facilitate import and export activities, tourism and services, and border economic development, thus creating a motivation for the locality’s socio-economic development.

The Tinh B
ien International Border Gate holds a crucial position in both economic development and national security as it serves as a goods transit point between the southern provinces of Vietnam and Cambodia. The annual average imports and exports turnover through the border gate reaches hundreds of millions of US dollars and gradually increases through years, hitting 628.78 million USD in 2022, accounting for nearly 24% of the border import-export turnover of the locality.

The early establishment of a logistics centre at the Tinh Bien International Border Gate is needed for sustainable border economic development in An Giang following the province’s socio-economic and trade development direction, and border economic cooperation between Vietnam and Cambodia, Phuoc stressed.

Sharing a 100km-long borderline with Kandal and Takeo provinces of Cambodia, An Giang is deemed to possess competitive advantages in import-export activities between the two countries through border gate pairs. The locality also serves as a gate
for domestic goods to access other ASEAN countries./.
Source: Vietnam News Agency

HCM City: Enterprises are sprinting on the last days of 2023 to compete their yearly production and business plans, and some are expanding their business activities to welcome the New Year 2024.

Recently, the Ho Chi Minh City Union of Trading Cooperatives (Saigon Co.op) put its Co.opmart Cho Moi into operation in Cho Moi district of An Giang province. This is the fifth Co.opmart supermarket in the Mekong Delta province, and the 129th of this retailer.

Meanwhile, DKSH, a leading market expansion services provider in Asia and globally, has signed a strategic cooperation agreement to develop the market in Vietnam for a series of product portfolios of Polpharma – a pharmaceutical leader in Poland. Through this deal, it will consolidate its role as a reliable partner providing strategic healthcare solutions, and continue to position its operations in the Vietnamese market.

Bernardo Reiner, Head of B2B of Polpharma and General Manager of Farmaprojects, said that DKSH’s solid capacity and extensive understanding
will help Polpharma not only realise its business growth goals but also get closer to the industry’s development goals in many potential markets like Vietnam.

KBTG, Thailand’s leading financial technology (Fintech) group, a member of KASIKORNBANK (KBank), has also made great strides in business operations and human resources strategy, with the vision of repositioning the fintech market in Vietnam through the establishment of KBTG Vietnam.

Specifically, it has increased its staff by 300%, with more than 120 technology talents with diverse technical backgrounds. At the same time, after opening the main office in Ho Chi Minh City, KBTG will continue to expand its presence with an office in Hanoi and is planning to broaden its Vietnamese staff to 200 people in 2024 to strengthen its role as a regional technology centre of KBank./.
Source: Vietnam News Agency

Hanoi: Experts have predicted that gold prices, which reached a record high last week, may continue to rise in the short term, but the upward trend would be hard to sustain in the medium and long term.

Selling prices are high due to several factors in the domestic market, including VND/USD exchange rate, the global rising trend in gold prices, and seasonal such as the end-of-year consumption cycle, the wedding season, and God of Wealth Day (the 10th day of a lunar year).

With these psychological factors, experts believe that gold prices will grow further in the short term. However, the current rising pace would not continue in the medium and long term because the price difference between domestic and global gold has reached 15 million VND (619.32 USD) per tael.

Earlier, gold prices experienced a flourishing week, setting a new record of 77.4 million VND per tael in the trading session on December 22.

Although the price quickly dropped from the peak, it still stayed at a high level. At the final session la
st week, buying prices were listed at 75.7 million VND per tael and the selling prices at between 76.9 million VND and 77 million VND per tael in Hanoi./.
Source: Vietnam News Agency

Hanoi: Hanoi recorded an estimated 24 million tourist arrivals this year, reflecting a remarkable annual increase of 27%, according to the municipal Tourism Department.

Among the total, foreign visitors reached 4 million, marking an impressive 266.7% year-on-year growth, while the remainders were domestic tourists, exhibiting a yearly rise of 16.3%.

The total tourism revenue was estimated at 87.65 trillion VND (3.65 billion USD), indicating a substantial 45.5% surge compared to the previous year.

Director of the department Dang Huong Giang highlighted the sector’s focus on building tours and tourism products grounded in traditional cultural values, adding that the introduction of 15 enticing night tourism products also garnered positive feedback from tourists.

The department held various programmes to enhance its strengths in tourism products such as culinary, MICE (Meetings, Incentives, Conferences and Exhibitions), and health care tourism. In collaboration with districts, suburban areas and travel agenc
ies, the sector offered new experiential tours that are linked with heritage and relic sites, as well as craft villages. River tourism products were also developed to connect tourist destinations along the Red and Duong Rivers, she said. Also this year, Hanoi has been honoured by the World Travel Awards with several accolades, including “Leading City Destination in Asia”, “Leading City Break Destination in Asia” and “Leading Tourist Board in Asia’.

The city also received its first-ever award as the “World’s Best Golf Destination” from the World Golf Awards. It boasted 48 out of 103 Michelin Guide-selected restaurants, with three of them achieving Michelin one-star status. According to TripAdvisor, Hanoi ranked 17th out of 25 renowned travel destinations and held the third position among the top 20 culinary destinations for food enthusiasts.

Giang revealed that next year, the city will strive to serve some 26.5 million tourists, up 10.4% annually. This includes 5 million foreign and 21.5 million domestic to
urists, showing respective year-on-year rises of 25% and 7.5%. The total revenue is projected to hike by 13.8% annually to roughly 99.77 trillion VND./.
Source: Vietnam News Agency

Hanoi: Hanoi recorded an estimated 24 million tourist arrivals this year, reflecting a remarkable annual increase of 27%, according to the municipal Tourism Department.

Among the total, foreign visitors reached 4 million, marking an impressive 266.7% year-on-year growth, while the remainders were domestic tourists, exhibiting a yearly rise of 16.3%.

The total tourism revenue was estimated at 87.65 trillion VND (3.65 billion USD), indicating a substantial 45.5% surge compared to the previous year.

Director of the department Dang Huong Giang highlighted the sector’s focus on building tours and tourism products grounded in traditional cultural values, adding that the introduction of 15 enticing night tourism products also garnered positive feedback from tourists.

The department held various programmes to enhance its strengths in tourism products such as culinary, MICE (Meetings, Incentives, Conferences and Exhibitions), and health care tourism. In collaboration with districts, suburban areas and travel agenc
ies, the sector offered new experiential tours that are linked with heritage and relic sites, as well as craft villages. River tourism products were also developed to connect tourist destinations along the Red and Duong Rivers, she said. Also this year, Hanoi has been honoured by the World Travel Awards with several accolades, including “Leading City Destination in Asia”, “Leading City Break Destination in Asia” and “Leading Tourist Board in Asia’.

The city also received its first-ever award as the “World’s Best Golf Destination” from the World Golf Awards. It boasted 48 out of 103 Michelin Guide-selected restaurants, with three of them achieving Michelin one-star status. According to TripAdvisor, Hanoi ranked 17th out of 25 renowned travel destinations and held the third position among the top 20 culinary destinations for food enthusiasts.

Giang revealed that next year, the city will strive to serve some 26.5 million tourists, up 10.4% annually. This includes 5 million foreign and 21.5 million domestic to
urists, showing respective year-on-year rises of 25% and 7.5%. The total revenue is projected to hike by 13.8% annually to roughly 99.77 trillion VND./.
Source: Vietnam News Agency