Business News in Vietnam on April 28, 2024

In recent news, the capital city of Hanoi has made significant efforts to streamline administrative procedures, reducing time and costs for locals and businesses. The implementation of a single-window mechanism has facilitated the handling of procedures in various sectors such as planning, investment, natural resources, environment, and tax.

Meanwhile, Vietnam has climbed to the fifth position among aquatic product suppliers to Singapore in the first quarter of this year. With exports reaching over 24 million SGD, Vietnam captured an 8.58% market share in Singapore’s aquatic product market. The country’s aquatic exports to Singapore mainly included shrimp, crab, fish, and mollusks.

In another development, the southern province of Dong Nai presented its investment projects and incentives to Korean firms at a workshop in Seoul. The province is focusing on green growth projects and aims to achieve net-zero emissions by 2050. The workshop aimed to foster collaboration between Korean enterprises and Dong Nai in researching and developing emission reduction technologies.

Furthermore, experts gathered in Ho Chi Minh City to discuss ways to boost exports amidst external challenges. The forum highlighted the increase in orders for aquatic products and garment-textile exports in the first quarter of 2024. However, challenges such as rising production costs and supply chain disruptions were also addressed.

Additionally, HCM City is set to host the 9th International Livestock, Dairy, Meat Processing, and Aquaculture Exposition from May 29 to 31. The event will feature over 200 leading companies from 30 countries, providing a networking opportunity for trade visitors.

Moreover, Vingroup JSC announced a restructuring plan involving the merger of two subsidiaries into a smartphone and AI concern. This move aims to enhance the company’s operations and capitalize on emerging technologies.

In conclusion, Vietnam is making strides in various sectors, from administrative reforms and export growth to investment opportunities and technological advancements. These developments reflect the country’s commitment to progress and innovation in a rapidly changing global landscape.