Vietnam’s textile and garment industry is striving to achieve export turnover of more than 40 billion in 2019, a year-on-year increase of 14-15 percent.
The north-western mountainous province of Dien Bien is planning to intensify efforts in investment attraction to industry and tourism development so as to boost local growth next year.
On December 9, a ground-breaking ceremony was held to relaunch construction of – An Duong Industrial Zone – the first joint venture between the northern Vietnam city of Hai Phong and the Chinese city of Shenzhen.
With the EU-Vietnam Free Trade Agreement (EVFTA) set to come into force on August 1, it is considered a great opportunity for the Vietnamese textile and apparel industry, despite concerns that the rules of fabric origin will make it tough for local products to enjoy the benefits of the trade deal.
Vietnam’s leather and footwear industry should improve its supply chain performance to take advantage of the milestone trade deal that the country has signed with the EU and to recover from the effects of the COVID-19 crisis, speakers said at a recent international footwear conference.
The footwear and handbag industry aims to reach export revenue of 24 billion USD in 2020, after hitting 22 billion USD last year, the industry association said.
As many as 90,500 new businesses were established in the first eight months of the year, with a combined registered capital of 1.1 quadrillion VND (47.3 billion USD), a year-on-year increase of 3.5 percent in the number of enterprises and 31 percent in capital, according to the General Statistics Office (GSO).
Three made-in-Vietnam rail mounted quayside cranes (RMQCs) are headed to India.
Southern localities of Vietnam has been a major destination for investment from the Republic of Korea (RoK) in recent years, and local textile-garment and footwear industries have proved to be a magnet for an influx of capital from this country.
The southern province of Binh Duong plans to focus on developing industry and smart services in 2019 by improving cooperation between the State, businesses and scientists, and promoting international exchanges.
The Ministry of Industry and Trade sees supporting the manufacturing and processing industry as the key to boosting socio-economic development this year.
The United States hosted a workshop in Ho Chi Minh City on December 6 focused on U.S.-Vietnam cooperation in Vietnam’s liquefied natural gas (LNG) power and infrastructure industry.
The service industry in the northeastern border province is estimated to grow by 14.2% this year thanks to the locality’s concrete actions to boost its tourism services.
The strong growth of the e-commerce sector has been turning Vietnam into a major magnet for investment in the capital-thirsty logistics industry.
The animal feed industry, which is growing at 10-15% annually, is highly attractive to foreign investors, who are steadily expanding their production.
Prime Minister Nguyen Xuan Phuc has asked Binh Thuan province to further improve the investment environment, remove difficulties for enterprises, and boost the growth of both industry and agriculture.
Minister of Industry and Trade Tran Tuan Anh said automation and AI were going to replace workers at factories in the coming ‘fourth’ industrial revolution.
The Vietnam shipbuilding industry has been developing in 10-year cycles with pinnacles in 1987, 1997, 2007 and 2017. As the highest peak of the latest cycle is over, an oversupply may occur in 2018.
To achieve a target of US$6 billion in export revenue, the coffee industry must improve its output, the quality of products, and added value, said Luong Van Tu, chairman of the Vietnam Coffee and Cocoa Association (Vicofa).
A year after a toxic spill from the plant caused the country’s worst environmental disaster so far, the giant Formosa steel and port complex project, the largest of its kind in Vietnam, is pressing on, expecting to produce about 1.5 million tonnes of steel between now and the end of the year, amid concerns about affecting the domestic market.