Vietnam news in brief - October 8

80 outstanding individuals, organizations to be honored for excellent initiatives 

The Vietnam General Confederation of Labor will honor today 80 outstanding individuals and organizations in the 1 Million Initiatives Program, which aims to improve production and save costs to make Vietnam's products more competitive.

According to Tran Thanh Hai, Deputy Chairman of the Vietnam General Confederation of Labor, the program is estimated to have brought more than VND33 trillion (US$1.35 billion) in benefits thanks to solutions for better production and operation efficiency and strengthened Vietnam's brand through many scientific themes, solutions, improvements, and advanced applications.

Vietnamese enterprises participate in Anuga 2023

Visitors attend the fair. Photo: thoibaotaichinhvietnam.vn

A delegation of leading Vietnamese food processing enterprises is participating in the Anuga 2023 International Trade Fair for the Food Industry in Cologne, Germany, from October 7 to 11.

This is an activity under the national trade promotion program organized by the Ministry of Industry and Trade. This year's Anuga is the largest ever, with more than 7,800 exhibiting companies from 118 countries.

Investment MOUs signed between Khanh Hoa and Japan

The Khanh Hoa-Japan Investment Promotion Conference 2023, held in Nha Trang City on October 7, saw the signing of many Memoranda of Understanding (MOUs) on cooperation and investment promotion between representatives of Khanh Hoa Province and Japanese enterprises.

The conference aimed to promote investment, business expansion, tourism market, and trade between the two sides. The province has attracted six Japanese FDI projects with a total registered investment capital of over US$2.6 billion, accounting for nearly 70% of its total FDI capital. At present, Japan is the largest foreign investor in Khanh Hoa.

VinFast to build electric vehicle assembly plant in India

VinFast plans to build a new facility in India. Photo: Vingroup

Vietnamese automaker VinFast plans to build an electric vehicle assembly plant in India, the world's third-largest automotive market, with a total investment of approximately US$50-200 million. The plant will have an initial capacity of around 50,000 electric vehicles per year. This is part of the company's strategy to expand its operations to at least 50 new markets worldwide by the end of 2024.

Large-cap companies sell $1.8 billion worth of corporate bonds

Automobile manufacturer VinFast, lenders Vietcombank and VPBank, and real estate firm Capitaland Tower have sold about VND44 trillion (US$1.8 billion) worth of corporate bonds, the largest amount on the Hanoi Stock Exchange over the last two months.

After two months of operation, the corporate bond market has listed 102 bond codes from 29 companies, including 56 new issues in September. More than 37 million bonds worth VND9.5 trillion ($389.5 million) were traded last month.

Vietnam ends Asiad 19 with 3 gold medals

Vietnamese athletes won the last silver medal and two bronze medals in sepak takraw, karatedo, and Chinese chess at the Asian Games 2023 (Asiad 19) on October 7. At the end of the sports event, Vietnam secured a total of 36 medals, including three gold, five silver, and 18 bronze.

More than 500 Vietnamese athletes, coaches, and officials took part in the Asiad 19, which runs from September 20 to October 8. The Vietnamese delegation aims to win 2-5 gold medals.

Deputy PM steers Vietnam’s international financial center

Deputy Prime Minister Le Minh Khai will head a steering committee to develop a plan to build the international financial center, which includes heads of ministries, the central bank, and people's committees in Ho Chi Minh City and Danang.

The steering committee is tasked with discussing solutions for the financial center development plan, coordinating work among ministries and local authorities, and seeking support from international institutions.