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Bamboo Airways becomes first Vietnamese airline to operate Melbourne-Hà Nội route

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At the launching ceremony of the Melbourne-Hà Nội air route. — VNA/ Photo

MELBOURNE — Bamboo Airways on Thursday launched the Melbourne-Hà Nội air route, becoming the first Vietnamese airline to operate the route, contributing to promoting the partnership between Việt Nam and Australia.

The opening of the route marked a new success in the airline’s efforts to connect Vietnamese and Australian localities after the launch of the routes between HCM City and Melbourne in February and between HCM City and Sydney in March this year.

According to the carrier, the Melbourne-Hà Nội route has shortened travel time between the two cities to nine hours. The airline is offering many promotion programmes to celebrate the new route.

Addressing the launching ceremony, Bamboo Airways Deputy General Director Trương Phương Thành said that the Melbourne-Hà Nội route comes into operation with a promise of convenience, time-saving, and a hassle-free travel experience.

He expressed hope that with the route, Bamboo Airways will further strengthen its role as an aviation bridge and make a substantial contribution to Vietnamese and Australian relations in all aspects, including trade and tourism.

For his part, representative from the Vietnamese Embassy in Australia Trần Lê Phương hailed the efforts by Bamboo Airways in strengthening connections between Việt Nam and Australia.

Phương noted that despite COVID-19, last year, trade between the two countries surged 50 per cent to 17 billion AUD (US$12.11 billion). Việt Nam and Australia are working to become each other’s top 10 largest trade partner, he said, adding that Australia is hosting about 300,000 Vietnamese people, including 27,000 students. Before the pandemic broke out, about 400,000 Australian tourists visited Việt Nam each year.

This year, Bamboo Airways plans to expand its coverage to 40 international destinations, many of which are in Australia. —

 

Source: https://vietnamnews.vn/economy/1176946/bamboo-airways-becomes-first-vietnamese-airline-to-operate-melbourne-ha-noi-route.html

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Vietnam targets 7% GDP growth this year: minister

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HANOI — Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously.

To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung also said during a government meeting.

Dung said Vietnam’s budget was in surplus, giving scope for fiscal policy to be used to support businesses and residents.

“Credit institutions will need to further cut their lending interest rates to reduce input cost pressure for businesses and for the economy,” he said.

Vietnam, a regional manufacturing hub, started lifting its coronavirus curbs late last year, allowing factories to resume full operations.

The economy is recovering after growing only 2.58% last year, the slowest pace in decades.

The Southeast Asian country reported GDP growth of 7.72% in the second quarter, backed by strong export growth, but warned of upward inflation pressure for the rest of the year. 

Source: https://tuoitrenews.vn/news/business/20220704/vietnam-targets-7-gdp-growth-this-year-minister/67932.html

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Vietnam spends $40bln importing computers, electronic components since early 2022

Computers and electronic components continue to be the lead group of imported goods, with a turnover of approximately $40 billion, according to the latest data from General Department of Customs.

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From the beginning of the year to June 15, the country spent $39.62 billion importing computers, electronic products, and components, an increase of 29.3% from a year ago.

Computers, electronic products, and components remain the largest import item of Vietnam, accounting for 23.36% of the total import turnover of the economy.

The second-largest imported goods were machinery, equipment, tools, and spare parts with $20.43 billion. The largest import market of this product group was Asia.

Importing computers, electronic products, and components from South Korea was $10.53 billion, a sharp increase of 44% from an earlier year. China was after South Korea with $10.36 billion, up 29.2%. Computer import from Taiwan was recorded at $4.98 billion, up 35.5%; from Japan with $2.89 billion, up 39.8%.

From the beginning of the year to the end of June 15, the total import turnover reached $169.58 billion, an increase of 16.3% (equivalent to an increase of $23 0.8 billion) from last year.

In addition to computers, and electronic products, commodity groups with high turnover such as petroleum increased by $2.53 billion, an increase of 128.4%. Coal of all kinds increased by $2.19 billion, equivalent to 135.7% growth.

Source: https://e.nhipcaudautu.vn/economy/vietnam-spends-40bln-importing-computers-electronic-components-since-early-2022-3346496/

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Yeah1 to buy TV firm amid restructuring

Online entertainment company Yeah1 plans to buy a 51 percent stake in TV and radio company STV amid a major restructuring endeavor.

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The deal is set to be completed this quarter. STV, established in 2008, owns lifestyle TV channel StyleTV, stock and finance channel InfoTV and radio channel Joy FM.

The deal was announced after Yeah1 founder and chairman Nguyen Anh Nhuong Tong sold his entire 12.89 percent stake on June 1 after 15 years of leading the company from an online news website to the first media company to be listed on the Ho Chi Minh Stock Exchange.

Several other major shareholders have also been pulling out since February, including DFJ VinaCapital Venture Investment.

Yeah1 has postponed its annual general meeting twice this year saying more time was needed to prepare important documents.

It reported post-tax profits of nearly VND28 billion last year after two years of losses.

Its contract with YouTube was terminated in March 2020 due to a violation of policies, and what began as an operational error has “turned into a real crisis for the company,” Tong once said.

Yeah1 targets revenues of VND588 billion this year, down 45 percent from 2021 and the lowest since 2017.

It plans to issue 78.6 million new shares to increase its capital.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/yeah1-to-buy-tv-firm-amid-restructuring-3346497/

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