Vietnam news in brief - April 8

Vietnam Airlines to launch direct flights between Vietnam and Manila

Vietnam Airlines aircraft. Photo: The Hanoi Times

National flag carrier Vietnam Airlines will launch direct flights from Hanoi and Ho Chi Minh City to the Philippine capital Manila on June 17. Flights from Hanoi to Manila will take off on Tuesdays, Thursdays, and Saturdays, while flights from Ho Chi Minh City to Manila will depart on Mondays, Wednesdays, Fridays, and Sundays.

With the launch of the new routes, Vietnam Airlines becomes the first local carrier to offer direct flights to Manila, strengthening ties between the two countries.

Vietnam wants lower prices for Lao coal

Vietnam wants to buy coal from Laos at lower prices, Industry and Trade Minister Nguyen Hong Dien said during a visit to the neighboring country last weekend. The minister called on local coal mining companies in Laos to upgrade their equipment to lower selling prices. He also suggested that the Lao government abolish export tariffs on coal products and improve transport infrastructure to increase trade activities between the two countries.

Vietnam imports 60-100 million tons of coal annually for power generation, of which Laos is expected to provide 20 million tons.

New hi-tech business development fund under consideration

The Ministry of Planning and Investment is working on a draft to regulate the financing of business investment. The draft regulation will target companies with projects in hi-tech industries and green growth sectors, as well as the development of R&D hubs, with different criteria regarding their investment capital and annual revenue.

The fund will cover these companies' expenses for staff training, R&D activities, fixed asset purchases, infrastructure construction, and high-tech production.

Dong Nai Province to relocate businesses in oldest industrial park

Aerial view of the Bien Hoa 1 Industrial Park in Dong Nai Province. Photo: vneconomy.vn

The southern province of Dong Nai has asked companies operating in the Bien Hoa 1 Industrial Park to complete the relocation of their facilities by the end of 2025 in order to transform the industrial park into a new residential area. Compensation will be determined in the second quarter of 2024, and the value of the relocation is VND7.5 trillion ($300.4 million).

Bien Hoa 1 Industrial Park is home to 76 companies employing more than 21,000 people. Established in 1963, it is the oldest industrial park in Vietnam.

Vietnam participates in Travel and Holiday Show in Canada

The Vietnamese Embassy in Canada and representatives from international diplomatic missions in Ottawa, travel companies, and tour operators from around the world attended the 27th Annual Travel and Vacation Show in Canada on April 6-7. Participants had the opportunity to exchange first-hand information on travel destinations and holidays as Canada gears up for the summer season.

The event attracted over 200 exhibitors and approximately 20,000 visitors, providing tourists with information about more than 60 international destinations as well as about 40 tourist sites in Canada and the US.

Vietnam's cashew exports soar in Q1 2024

In the first quarter, Vietnam's cashew exports reached 147,000 tons with a value of $782 million, up 32% and 20.5% respectively from the same period last year. This growth is driven by high global demand for cashew nuts, which are increasingly recognized as a nutritious food that many people consume on a daily basis.

The main types of cashews exported by Vietnam are W320 and W240, which account for 56.71% of the total volume of cashews exported. The growth in exports of these types of cashews has had a positive impact on industry activities. The USA is Vietnam's largest cashew importer, while China has become an active buyer.

Ten basic pieces of information required for product traceability from June 1

As of June 1, Circular 02 of the Ministry of Science and Technology requires ten basic pieces of information for product traceability. This information is intended to help consumers determine the origin of goods. When establishing traceability data, manufacturers, traders, and service providers must include the following minimum information: product/goods name, image, production/trading unit name and address, production/trading stages, production/trading time, origin traceability code, brand/trademark/symbol code, product serial number (if any), expiration date (if any), and applicable national and international standards.

This information must be legibly printed on the product packaging, along with a code linked to the national product traceability portal, which allows consumers to access expiration dates and product origins.