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Vietnam Business News May 30/2024 

 Thursday, May 30,2024

AsemconnectVietnam - Nam Dinh vows to facilitate Australian investments. Vietjet honoured with international awards by AirlineRatings.com. Measures taken to stabilise foreign exchange market. Industrial real estate benefits from booming semiconductor sector. Exhibition on precision engineering, manufacturing to be held in July. Hung Yen prioritises Taiwanese semiconductor enterprises to invest in IP No. 5.

*Hanoi: Fair promotes choice products
Nearly 100 enterprises have brought their products of customers' choice in 2024 to a fair held by the Hanoi Department of Industry and Trade in Nam Tu Liem district.
The fair, opened on May 29, is showcasing a wide range of products, including consumer goods, industrial and agro-forestry-aquatic products, handicrafts, organic food, and "One Commune-One Product (OCOP) items of Hanoi and other localities.
*Nam Dinh: welcomes Australian investors
Nam Dinh province always welcomes Australian investors and creates the most favourable conditions for them, Secretary of the provincial Party Committee Pham Gia Tuc told Australian businesses on May 29.
As part of his visit to Australia, Tuc and his delegation had a working session with representatives from Unified Capital Partners (UCPS) - an independent boutique provider of financial services - and the Australian Investment Network; and attended a conference on Nam Dinh’s trade and investment promotion in the country. The conference attracted the participation of representatives from the Australian Department of Foreign Affairs and Trade (DFAT), and nearly 100 enterprises, educational organisations and investors in Sydney.
*Vietjet honoured with international awards by AirlineRatings.com
Vietjet has been named ‘The Best Ultra Low-Cost Airline’ and ‘The Best Low-Cost Airline Onboard Hospitality’ for 2024 by AirlineRatings.com, the world’s renowned airline safety and product rating website.
Having honored Vietjet for major international awards for years, AirlineRatings recognises the airline for its low fares, innovation, diversified services, and its great value in-flight offering.
The airline continues to grow its fleet of A330s and A321s and expand its flight network, making air travel accessible to everyone. Vietjet is also recognised for its pioneering and revolutionary low-cost model products, including a Business-class service that offers top-tier experiences for passengers.
*Hung Yen: Prioritises Taiwanese semiconductor enterprises
Hung Yen prioritises Taiwanese semiconductor enterprises to invest in IP No. 5
A business delegation from the Taiwan Electrical and Electronic Manufacturers' Association (China) on May 22 came to the northern province of Hung Yen to seek investment opportunities.
At the meeting, Chairman of the Hung Yen Provincial People's Committee Tran Quoc Van reviewed the socio-economic situation, transport infrastructure, education and training and the implementation of industrial parks in the province.Van also introduced potential ways to attract investment to Industrial Park No. 5.
*Measures taken to stabilise foreign exchange market
Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong on May 29 said that the central bank is closely following market moves and implementing measures to stabilse exchange rates and foreign exchange market as the Government has directed.
Speaking at the National Assembly (NA)’s ongoing 7th sitting on May 29, Hong said that the recovery of domestic production and exports in the coming time will push foreign currency supply and demand. It’s forecast that exchange rates will cool down by the end of this year and the SBV will continue to closely monitor market developments so that businesses can feel secure about the Government's management, Hong said.
*Industrial real estate benefits from booming semiconductor sector
Driven by the surging demand for semiconductor manufacturing and assembly, companies are actively seeking factories and industrial parks with necessary infrastructure and services, according to Thomas Rooney, Senior Manager of Industrial Services at Savills Vietnam.
Stable power supply, high-speed internet, and an efficient water treatment system are top priorities for these firms, Rooney explained.
He said Vietnam is strategically located in Southeast Asia, easily accessing major regional markets. Additionally, the country boasts favourable natural conditions with abundant rare earth, a critical raw material in the semiconductor production. Political stability and various investment incentives also make it an attractive destination for foreign firms.
*July 2 to 5: Exhibition MTA Vietnam 2024
The 20th International Precision Engineering and Manufacturing Reinvented Exhibition & Conference (MTA Vietnam 2024) will take place in Ho Chi Minh City from July 2 to 5, its organiser Infoma Markets Vietnam and several domestic and foreign trade promotion agencies announced on May 29.
More than 450 exhibitors from over 20 countries and territories will display their cutting-edge technologies, innovative solutions, and high-quality products in the field at an exhibiting area of up to 17,600 square metres.
The MTA Vietnam 2024 will also feature various conferences and forums with leading domestic and foreign experts sharing precision engineering and manufacturing information, and a robot challenge contest that will draw the participation of young talents in HCM City.
Source: Vitic


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