HCM City: The Department of Industry and Trade of Ho Chi Minh City has coordinated with several e-commerce platforms to organise a series of seminars on cross-border e-commerce and global growth opportunities for Vietnamese businesses.

The seminars have been held within the framework of a demand-supply connectivity conference between Ho Chi Minh City and provinces and centrally-run cities which is taking place from December 21-24.

At the events, experts and representatives of e-commerce platforms such as Amazon, Alibaba and Tiki have focused on updating information about cross-border online sale, and solutions to increase sales and understand customer needs by using big data.

Nguyen Nguyen Phuong, Deputy Director of the municipal Department of Industry and Trade, said that e-commerce is a potential sale channel that has not been exploited effectively.

As for small- and medium-sized enterprises or local manufacturers, there are still limitations in accessing the online retail market, as well as seizing rev
enue growth opportunities in both the domestic and export markets via e-commerce platforms.

Pham Trang Dai, Senior Account Manager at Amazon Global Selling Vietnam, said that cross-border e-commerce in Vietnam has grown positively and steadily over the past years, with an annual growth rate of 20% and Vietnam is ranked among the top 5 countries in the world in terms of trade growth.

In 2023, the export value of Vietnamese businesses via Amazon is estimated to increase by more than 50%, and the number of sale partners from Vietnam rose by 40%.

She cited statistics as saying that there are thousands of Vietnamese sellers doing business on Amazon, with 17 million products from the Southeast Asian nation sold on Amazon this year.

Experts agreed that developing e-commerce channels, promoting online connections, putting products on e-commerce platforms, establishing online distribution channels, and boosting cross-border exports will help production and business units access domestic and foreign consumer market
s more effectively./.
Source: Vietnam News Agency

Hanoi: Hanoi’s supporting industry sector has proactively carried out innovation and technology investment to further improve competitiveness and participate in the global supply chain.

Nguyen Dinh Thang, Deputy Director of the Hanoi Department of Industry and Trade, said the city had determined that the development of the supporting industry would be an important solution to have sustainable economic development, increase the ability to attract foreign direct investment, promote technology transfer, and boost the development of small and medium-sized enterprises.

This would also be a motivation for domestic enterprises to participate further in the supply chain of foreign invested companies and the global value chain of multinational groups.

Among them, the production of components would be the key field to provide supporting industrial products for most key manufacturing industries, such as automobile and motorbike manufacturing, mechanical engineering, electricity and electronics.

In particular, enterp
rises in Vietnam, including Hanoi, had also taken all business opportunities, promoted digital transformation and linked with foreign partners to participate in the global supply chain.

Nam Phuong Company specialising in production of electric equipment located in Song Cung Industrial Park in Dan Phuong district of Hanoi, has cooperated with Intec GmbH, a group from Germany, to produce electrical cabinets and elevator controllers using leading technology from Intec, according to the company’s representative.

With this cooperation, the company has produced electrical cabinets and elevator controller products with quality recognised by Intec and much lower prices.

“This is a high-quality new technology elevator controller for all types of elevators, opening up opportunities for Vietnamese customers to use a modern, smart and safe elevator control system,” the representative said.

“The company’s goal is to become a leading enterprise in supplying controllers on the domestic market, and also to export to othe
r markets such as Malaysia and Singapore.”

Tran Thi Phuong Lan, Acting Director of the Hanoi Department of Industry and Trade, said according to the orientation of developing supporting industries for the period 2021-2025 and a vision to 2030, Hanoi would deploy solutions to promote development of the supporting industry. That would help Hanoi become a city with a modern industrial sector, high technology and green industry.

The city enhanced promotion activities, online trade connection, and the application of virtual reality technology. It also had support for supporting industry enterprises to carry out advanced and modern technology transfer; and hire foreign experts for training human resources.

Hanoi built a website about its supporting industry to provide information and data relating to the supporting industry.

In the Hanoi Supporting Industry Development Programme until 2024, Hanoi set a goal for 2024 to have about 1,000 enterprises operating in the supporting industry, one year before the schedu
le. About 35-40% of supporting industry enterprises had production systems and products meeting international standards to supply to the global production network of multinational groups in Vietnam.

To achieve the set goals, the city would promote connection and support for supporting industry enterprises to become suppliers for domestic and foreign enterprises; and enhance attraction of foreign investment into this industry. In addition, the city would hire experts to help the supporting industry enterprises in Hanoi deploy smart factory models.

The city would organise two exhibitions on supporting industry in 2024 with the participation of foreign enterprises, including Japan, South Korea, China and Thailand. Those would create favourable conditions for the enterprises to seek opportunities and connect commercial transactions in manufacturing and supplying components.

At the same time, it would support them in the activities of research and development, and technology transfer and innovation in trial pro
duction of components, spare parts, raw materials and materials.

Up to now, Hanoi has more than 900 supporting industry enterprises, according to the department. Of which, about 320 enterprises have production systems and products meeting international standards, and entering the production and supply networks of multinational corporations.

However, the supporting industry’s products of Vietnam as well as Hanoi have medium and low technology. The localisation rate of those products is still low. The value of components imported into Vietnam for assembly and manufacturing of export goods annually reaches tens of billions of US dollars. Especially, the import value of components in the electronics and automobile industries stands at about $35-50 billion.

Besides that, according to the Hanoi Supporting Industries Business Association (HANSIBA), there are many difficulties in investment and development of the supporting industries in Hanoi due to increasing cost of production, labour and some other services./.
S
ource: Vietnam News Agency

Hanoi: The Hanoi Department of Agriculture and Rural Development and the People’s Committee of Tay Ho district are hosting an event to introduce products under the One Commune One Product Programme (OCOP) from localities across the country.

Addressing the opening ceremony on December 21, Vice Director of the department Ta Van Truong said the event offers a good chance for businesses and producers to enhance trade connections, promote brands and products, as well as connect the consumption of OCOP products through networks and distribution channels.

The five-day event features more than 100 booths showcasing over 2,000 OCOP products and regional specialties from Hanoi, 19 central and Central Highlands localities, and 17 others nationwide.

Notably, businesses from Hanoi arrange 45 pavilions at the event to introduce over 1,000 products, including typical products of the Vietnamese and Japanese cultures.

In the framework of the event, a Vietnam – Japan culture exchange programme is organised as part of the a
ctivities to celebrate the 50th founding anniversary of the diplomatic ties between the two countries. It features various activities imbued with Vietnamese and Japanese cultures, along with art performances joined by artists from both nations./.
Source: Vietnam News Agency

HCM City: Total loans outstanding as of November 30 at credit institutions in Ho Chi Minh City were worth over 3.4 quadrillion VND (140.15 billion USD), a 1.3% increase from the previous month, according to the central bank.

Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV)’s HCM City Branch, said the growth was among the highest in the year, and consolidated a rising trend.

He attributed the increase to three key factors — seasonal demand, impact and effectiveness of the credit and monetary policies and action programmes by the banking industry.

Demand for capital is usually high during year-end as enterprises need money for production and distribution of goods for the peak shopping season and the public for purchasing, according to Lenh.

Lending to businesses participating in the city’s market [price] stabilisation programme alone was worth 13 trillion VND (537.59 million USD), and it was given to 24 companies at preferential interest rates of 4-6%, greatly contributing to reducing co
sts for businesses and thus prevent prices of essential goods from spiking.

The SBV’s monetary, credit and interest rate policies continued to be effective, and the current low interest rate regime had encouraged borrowing for production, market expansion and consumption, he said.

The central bank’s allocation of credit limits appropriately and rationally also had a positive impact on credit growth, enabling banks to exploit the year-end season well, he said.

Action programmes by the banking industry to support enterprises, including one to connect themselves, also promoted credit growth, he said.

He said 32 meetings were organised in the city this year to link banks and businesses, enabling 162,000 companies, business households and co-operatives to obtain preferential loans and restructure their debts.

Notably, the disbursed amount was 120% of the credit packages lenders had registered at the beginning of the year, he said.

“If the year-end and the Lunar New Year are seasonal and short-term factors, f
actors related to monetary policies and implementation of solutions and action programmes are the fundamental and long-term bases that would promote credit and economic growth in 2024,” he said./.
Source: Vietnam News Agency

Moscow: Vietnamese trade representative in Russia Nguyen Hong Thanh spoke highly of the cooperation prospects between Vietnam and Russia’s Primorye territory, while attending the first Primorye international industry and investment forum in Vladivostok city on December 20-21.

Potential areas for collaboration include ship building and repair, bidding to build civil and industrial works, and supply of clothing, footwear, household appliances, and processed food which are of Vietnam’s strengths, he stressed, adding they will meet the demand of the Russian Far East and beyond.

According to Thanh, trade revenue between Vietnam and the Russian Far East is estimated at 257 million USD in 2023, 65% of which is contributed by Primorye region where Nakhodka and Vladivostok seaports are located.

The construction of a milk processing plant of Vietnam’s TH Group will begin in the Mikhailovsky priority development area, Primorye territory, in the end of 2024 spring, he said, highlighting the Vietnamese trade office in
the Russian Far East is looking for Vietnamese investors to build an inland container depot in Vladivostok city.

At the forum, which draw the participation of more than 1,000 businessmen and representatives from China, India, and Vietnam, First Deputy Minister for the Development of Far East and Arctic Development Gadzhimagomed Guseinov said that investors in the Advanced Special Economic Zone (ASEZ) and the Free Port of Vladivostok have landed nearly 640 billion RUB (6.95 billion USD) in Primorye territory.

The Russian Far East is developing freight transport systems and many new logistics and transport hubs, he added./.
Source: Vietnam News Agency