Vietnam news in brief - November 3
Find out what is happening in Vietnam today.
Pho, bubble tea for sale in the Philippines
| Pho'S will be sold in the Phillippines. Photo: Pho'S |
Pho'S, Phuc Tea and Spa Care With Love announced the successful signing of franchise agreements with partners in the Philippines in October, Go Global Holdings announced on November 2. These are among the nine businesses within the Go Global Holdings ecosystem - the first franchise investment fund for small and medium-sized enterprises (SMEs) in Vietnam and Southeast Asia - that have successfully expanded their franchise operations to the Philippines.
Vietnam achieves highest trade surplus in 5 years
Vietnam's trade surplus for the first 10 months has reached over US$24.6 billion, the highest in 5 years, according to the Ministry of Industry and Trade. This is an increase of more than 2.5 times compared to the same period last year.
The domestically invested sector incurred a trade deficit of nearly $18 billion, while the foreign-invested sector (including crude oil) had an export surplus of $42.6 billion. The ministry predicts difficulties in the remaining months due to increasing strategic competition among major countries, growing uncertainty, slow global economic recovery, and the prolonged Russia-Ukraine conflict.
5,700 tons of meat products shipped overseas in Q3
Vietnam sold more than 5,700 tons of meat products valued at $28.4 million in Q3. The trade figures were up 45% and 34% year-on-year, respectively. On a quarterly basis, the figures rose 27.4% in volume and 19% in value. Hong Kong (China) was the largest destination market for Vietnamese meat products, buying 40.5% of the export volume and accounting for nearly 50% of the value.
By the end of September, Vietnam had exported more than 16,100 tons of meat and meat products worth $77.8 million. The figures rose 28.4% in volume and 39.3% in value year-on-year.
Expansion of Ho Chi Minh City's largest wastewater treatment plant completed
The Binh Hung Wastewater Treatment Plant in Binh Chanh District, the largest in Ho Chi Minh City, completed its expansion on November 2. The expanded plant is designed to treat 469,000 cubic meters of wastewater per day, an increase of 328,000 cubic meters compared to before the expansion. It is currently the largest capacity wastewater treatment plant in Ho Chi Minh City. The plant's investor awaits environmental approval before handing it over to the city.
Hanoi aims for 50% self-sufficiency in urban agricultural products by 2030
| Hanoi aims to develop urban agriculture in sustainable manner. Photo: Lam Nguyen/ The Hanoi Times |
Hanoi aims to meet half of its needs through urban agriculture by 2030, as outlined in the "Hanoi Urban Agriculture Project" approved by the Hanoi People's Committee. The implementation period is set for 2024-2026, with a vision for 2030.
The project aims to develop urban agriculture in an ecological, modern, and sustainable way; increase value-added production; adapt to climate change; promote concentrated commodity production with high productivity, quality, and efficiency; ensure food safety and nutritional security; and link production to the urban market and the needs of urban residents.
200 companies participate in International Exhibition of Electronics and Smart Devices
More than 200 electronic and digital manufacturers participate in the 2023 Vietnam International Electronics and Smart Appliances Expo in Hanoi from November 2 to 4. Covering a total area of 10,000m2, the expo encourages domestic purchase and consumption of high-quality electronic products and smart appliances. It supports the development of a one-stop shopping mechanism for Hanoi and Vietnamese consumers.
With rapid socio-economic growth and improving living conditions, Vietnam has remained an important market for smart device manufacturers. In 2022, Vietnam imported $105 billion worth of electronic and smart devices, up 6.2% year-on-year.
Hanoi bans overnight EV charging
Hanoi authorities issued a decision on November 2 banning overnight charging of electric vehicles to prevent potential fires in apartment and tenement buildings. Chargers for electric vehicles must be installed in a separate area from others in the building. The building manager must have firefighting equipment to respond immediately to any incidents.
The decision also regulates the building's firefighting preparations and reminds residents to maintain the highest level of safety and security.
