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2021 bodes well for mechanical engineering

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After suffering a significant fall in revenue last year, the mechanical engineering industry has high hopes for recovery in 2021, given Vietnam’s good COVID-19 control and participation in free trade agreements.

2021 bodes well for mechanical engineering hinh anh 1

The mechanical engineering industry has high hopes for recovery in 2021 due to the country’s good control of pandemic and participation in FTAs. 

According to a report from the Vietnam Association of Supporting Industries (VASI), in 2020, due to the impact of the COVID-19 pandemic, nearly half of member businesses experienced a sharp decline in revenue, especially in the first half of the year.

However, Truong Thi Chi Binh, VASI Vice Chairman, said that thanks to their great efforts, businesses have basically found sources of supply, reconnected with export partners, and gradually recovered.

Nguyen Duc Cuong, General Director of the Hikari Vietnam Production & Trading Company, said the supply chain breakdown last year forced his company to cooperate with domestic enterprises over materials and export opportunities. This was a positive change the pandemic indirectly brought about for the local business community, he added.

Cuong said that 2021 will remain a challenge but promising signs can be seen, like good economic growth and sound pandemic control helping attract foreign investment and creating opportunities for domestic producers and businesses.

If local supporting industries can seize the opportunities, they could quickly join global supply chains as demand for strong Vietnamese products like apparel and household items is expected to rise post-pandemic. Companies with long-term plans, a network of partnerships, and good management mechanisms will survive and grow.

Insiders said it is likely that multinational corporations will shift production to and purchase from a third country instead of China, which presents a good opportunity to Vietnam, they noted.

Dao Phan Long, Chairman of the Vietnam Association of Mechanical Industry, said that producers will benefit more this year from opportunities but should prepare themselves to meet standards relating to products, production materials, and prices.

This requires stronger connectivity between them, particularly in sharing information, technologies, and orders, Long noted.

2021 bodes well for mechanical engineering hinh anh 2

FTAs help domestic mechanical and supporting industry firms gain better export advantages. 

Truong Thi Chi Binh said the free trade agreements Vietnam has joined will help domestic mechanical and supporting industry firms gain better export advantages and see the country attract more foreign investment.

Given the pandemic, Government measures to support the domestic market and plans to form joint ventures in the supporting industry are needed, she added.

According to the Ministry of Industry and Trade, in order to assist mechanical and supporting industry enterprises in 2021 and subsequent years, it will continue to improve the efficiency of its two technical centres for industrial development support in the northern and southern regions.

The centres have cooperated with trans-national corporations in Vietnam such as Toyota, Mitsubishi and Canon to find suitable suppliers participating in these companies’ value chains./.VNA

Source: https://vietnamnet.vn/en/business/2021-bodes-well-for-mechanical-engineering-712753.html

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Danang suspends BRT project due to its ineffectiveness

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A BRT bus is seen at a bus station in Hanoi. The government of Danang City has decided to suspend its BRT project as the investment in the project has yet to bring about social advantages for the coastal central city – PHOTO: TPO

HCMC – The government of Danang City has decided to suspend its bus rapid transit (BRT) project as the investment in the project has yet to bring about social advantages for the coastal central city.

Huynh Anh Vu, deputy director of the Danang City Management Board of Prioritized Infrastructure Investment Projects, which is the project’s developer and operator, confirmed that the management board had reached a consensus with the World Bank, which serves as the lender of the project, on its suspension.

Instead, the management board will focus on completing works related to the development of subsidized bus routes in the city, Vu said, as reported by Lao Dong newspaper.

The decision is considered as the right move as the city’s transport infrastructure system still remains inadequate and measures taken to encourage the use of public means of transport among local residents have not proved effective.

The move was strongly backed by the locals and some of them cited the examples of other localities where trillions of dong were poured into BRT projects but they had failed to address traffic congestion and caused losses to the State budget.

In 2013, the Government approved a master project to develop Danang sustainably with five components: improving the rainwater and drainage system, piloting the BRT system, developing key urban roads, enhancing the capacity and supporting the execution of projects and works transferred from prioritized infrastructure investment projects.

The master project was expected to be completed in June this year, but it has been 84% complete to date with US$185 million spent. Specifically, the BRT project has been 33% complete, while the remaining components have basically been finalized.

Source: https://english.thesaigontimes.vn/81444/danang-suspends-brt-project-due-to-its-ineffectiveness.html

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Some coastal hotels report full occupancy as tourists are on the rise

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Tourists play outdoor games at a resort. Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise – PHOTO: LDO

HCMC – Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise, though the holidays of April 30 and May 1 are still a while away, signaling good news for the tourism sector.

Nguyen Van Tuan, manager of Long Hai Hotel in Ba Ria-Vung Tau Province, told Lao Dong Online that over the past one year, the hotel saw few guests and its highest occupancy rate at a mere 20%. However, for some days last week, the number of tourists who booked rooms at the hotel surged, with the occupancy rate at 90%.

For April 17 and 18, the hotel is fully booked, and it is the first time since the coronavirus pandemic that the hotel is seeing some 100 rooms in total fully booked, Tuan said, adding that the hotel was fully booked three weeks ago for the Reunification Day, April 30.

Last weekend, many guests fully booked rooms at Vietsovpetro Ho Tram, said a representative of the resort.

Many hotels at sea tourist destinations near HCMC such as Ho Tram, Long Hai, Vung Tau and Mui Ne are seeing the number of guests soar on weekends.

Do Van Thuc, deputy director of Dat Viet Tour, said that the firm had received rising tour bookings on weekends.

Recently, Dat Viet Tour has been seeing an average 1,500 guests book weekend tours to the sea each week, some 200 kilometers from HCMC, he said.

Apart from this, since March, when the coronavirus outbreak was brought under control in Vietnam, Alo Limo, a transport firm, has become busier on weekends, said Le Gia Thanh Tam, a representative of Alo Limo.

Over the past few weeks, each week has seen some 10-15 groups of tourists book limousines for their trips, mainly to Dalat, Phan Thiet and Vung Tau, Tam said.

Source: https://english.thesaigontimes.vn/81445/some-coastal-hotels-report-full-occupancy-as-tourists-are-on-the-rise.html

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Q2 Thao Dien welcomes residents with full amenities

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Q2 Thao Dien is developed by Frasers Property Vietnam and An Duong Thao Dien Real Estate Trade Joint Stock Company, the project will be ready for handover by the end of April 2021. All apartments, office and commercial areas are completed and ready to welcome owners and businesses to move in.

High-end amenities at Q2 Thao Dien.

“Receiving homes with full amenities and service without waiting for a long time is a privilege offered to residents only at Q2 Thao Dien. A new home furnished with high-end amenities gives residents a fulfilled experience and absolute satisfaction”, said Representatives of Frasers Property Vietnam.

Just a-few-steps away from the apartment complex is the premium and stylish [email protected] office tower with a modern design, open space, high ceilings, and gorgeous river views. This architecture gives tenants space to create a unique and inspiring duplex workspace design. This tower is also fully equipped with meeting and event rooms, training/ education areas, coffee space, and professional management services. With numerous outstanding appeals, [email protected] meets the demands of an ideal working space for businesses, especially, a trend of workspace decentralisation to move from the central business districts to nearby dynamic areas.

Q2Terrace is now filled with famous brands, includes Annam Gourmet Market, Dinh Phong – The Butcher & Seafood, Wayne’s Coffee, Peekaboo Café, and Beer Studio, which will also be a place to dine, to meet and to shop, for professionals working at the [email protected]
 

Source: https://english.thesaigontimes.vn/81441/q2-thao-dien-welcomes-residents-with-full-amenities.html

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