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Food exporters turn focus to domestic market

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Consumers buy products at a former export-only enterprise that has switched to also selling domestically. — Photo nld.com.vn

HCM CITY — Vietnamese are tending to consume foods of clear origin and high quality after the COVID-19 pandemic, causing many export-oriented food brands to turn their attention to the domestic market.

The market with a population of nearly 100 million is in fact attracting both foreign and local food companies.

Phan Minh Thông, general director of Phúc Sinh Company, which has been exporting pepper, coffee and farm produce for the last 20 years, said Việt Nam is a very large market for coffee products.

His company exports 65,000-70,000 tonnes of coffee products a year, whereas domestic sales account for less than 1 per cent of that.

Phúc Sinh would focus more on promoting its Blue Sơn La Coffee brand in the domestic market, he added.

Việt Nam may be the world’s second largest coffee exporter, but Vietnamese have to drink coffee mixed with other ingredients, and that is the reason why his company wants to offer local customers pure and export-quality coffee, he claimed.

He hoped consumers would support K Coffee when offered pure, good-quality coffee at reasonable prices and told about it.

In 2022, Phúc Sinh Group plans to build more coffee processing plants to supply the domestic market and venture further into the spice industry.

Lê Bá Minh, director of Pacific Foods Joint Stock Company, a fish sauce exporter to the US, claimed his company’s fish sauces are the top sellers on Amazon after just a year since launch.

In June, it started selling in the domestic market through e-commerce platform Shopee.

“The fish sauces for the domestic market have the same quality as for exports. We prepared for two years to develop our domestic market.”

Đặng Bá Long, director of the HCM City Honey Bee Joint Stock Company (Behonex), said in recent years the company’s domestic sales have gone quite well, growing at 15 per cent a year.

In the past, Behonex products were mainly exported, with little domestic sales as Vietnamese used to think honey was only consumed when sick, he said.

But now honey is used by many people as an ingredient in cooking and beverages.

Another important reason is that Vietnamese people’s incomes are increasing, and they could afford premium foods, Long said.

Domestic products are however facing fierce competition from imports, he said.

Analysts said Vietnamese consumers used to be price-conscious, but living standards are now increasing due to rapid economic growth and food safety has become a factor, persuading exports-only firms to look at the domestic market, especially with COVID hitting exports. — 

Source: https://vietnamnews.vn/economy/1193143/food-exporters-turn-focus-to-domestic-market.html

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C.T. Group honored as one of the best companies to work for in Asia

Real estate developer C.T. Group received the annual HR Asia Award for being one of the best companies to work in Asia at a ceremony held in HCM City on August 11.

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The prestigious award of “Best Companies to Work for in Asia” was presented by the continent’s leading magazine – HR Asia.

This is the second time CT Group has received this prestigious award and the first time that this Corp has surpassed nearly 600 “competitors” in Vietnam to achieve the highest score at 4.68/5 points (94%).

This score is 25% higher than the average score of businesses competing across Asia in 2022 and far from the average score of Vietnam, according to the property developer.

Achieving the position that many businesses across the continent aim for is not easy since the list of “Asia’s Best Places to Work” is selected through an extremely rigorous evaluation process.

The evaluation was made according to the TEAM (Total Engagement Assessment Model) model which is based on a set of criteria including Core, Self, Group applied to major human resource markets in Asia.

Accordingly, CORE (Collective Organization for Real Engagement) assesses culture, discipline, management capacity, leadership, and agile initiatives; SELF (Heart, Mind, Soul) assesses the level of cohesion, pride, and emotion at work; and GROUP (Think, Feel, Do) measure the level of cooperation of members with businesses.

“CT Group is extremely proud to become one of the Enterprises with a fantastic working environment in Asia 2022,” said Ms. Nguyen Thi Tien Phuong Deputy Director – Community Human Resources Department of CT Group during the honoring ceremony.

“Our group is the center of human development with a way of wisdom, dignity, skills and lifestyles. In addition, to economic development for common prosperity for all members and their families. “360-degree policy” – is a policy that cares for the development of physical and spiritual life in all aspects.”

On the 30th anniversary of the Corporation’s establishment, CT group has awarded an attractive ESOP stock bonus, even a chauffeur received ESOP stock shares which were equal to VND10 billion, life insurance – Lifetime insurance with preferential rates to billions of Vietnam dong.

The market is always impressed with the team that rewards cars for employees annually, everyone is happy in an open and especially loving environment.

At work, employees also have the opportunity for physical training, improve health and feel a positive life. In addition, CT Group regularly organizes entertainment activities, social participation, tourism, and vacation every year. Moreover, the journey of CT Group Caravan is one of the important pieces to building the corporate culture of the Group.

CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group
CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group

The activity was inspired by the program of West Point Military Academy (USA), which trained many leaders globally. If you like the community service activities, the CT group is an opportunity for all of you to join hands to contact the community right away, the honest poor, the weak in society, because the core value of CT group is a corporation for the community right from the early days of its establishment.

For young people who love hi-tech, CT group is the door to access science and technology from the world and enter the future 4.0 of humanity. The catchphrase from veteran employees:” CT group is a place where an ordinary employee can become great people”.

After 3 decades of establishment and development, with the second 30-year plan, CT group aims to add resources up to 25,000 by 2025, CT Group is attracting many outstanding talents not only in domestic but also all over the world, from foreigners to expatriates with knowledge, overseas talents, those from many different fields such as High Technology (Cell Tech, Fintech, AI, Protech, Flytech, Clean Energy ) finance, construction, sales – marketing, … to contribute to diversifying the staff network, serving the strategy of technological transformation with a scale spread throughout the Group including 50 companies members and work offices in many countries around the world.

For the second time being honored as “Asia’s Best Place to Work”, CT Group not only once again affirms its position but also prepares strongly for the upcoming global integration, becoming more and more “classic, quality, difference” in creating an ideal and desirable working environment for the community.

Source: https://e.nhipcaudautu.vn/companies/ct-group-honored-as-one-of-the-best-companies-to-work-for-in-asia-3347269/

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Vietnam ready for talks with US on tax evasion investigation into Vietnamese steel pipes

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Vietnam is willing to hold trade talks with the United States to timely solve arising problems regarding a U.S. anti-circumvention investigation into steel pipe products imported from the Southeast Asian country. 

Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs, made the statement at a regular press briefing in Hanoi on Thursday following reports that the U.S. officially initiated an investigation into the case.

Hang affirmed that the Vietnam-U.S. comprehensive partnership has witnessed progress in all fields in recent times, including in economy, trade, and investment. 

Vietnam is the leading trade partner of the U.S. in Southeast Asia, while the U.S. is the second-largest trade partner of Vietnam, with two-way trade turnover exceeding US$110 billion in 2021.

“Vietnam advocates promoting economic, trade, and investment cooperation with the U.S. on the basis of freedom, fairness, and mutual benefits in accordance with bilateral agreements and regulations of the International Trade Organization (WTO),” she said.

“Vietnam is willing to exchange with the U.S. through existing mechanisms such as the Trade and Investment Framework Agreement (TIFA) to promptly solve arising problems and strengthen economic, trade, and investment relations for the interests of businesses and people of the two countries.”

In their lawsuit filed in May, major U.S. steel pipe manufacturers, namely Nucor Corporation, Bull Moose Tube, and Maruichi Steel Corporation, accused Vietnam of importing hot rolled steel (HRS), the main raw material used to produce steel pipes, from several countries, including China, for processing steel pipes to be exported to the U.S..

By doing so, the said Vietnamese exporters try to evade the respective trade remedy tax that the U.S. is levying on several countries, including China, according to the lawsuit.

The U.S. Department of Commerce recently decided to officially initiate a probe into the case.

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Source: https://tuoitrenews.vn/news/business/20220812/vietnam-ready-for-talks-with-us-on-tax-evasion-investigation-into-vietnamese-steel-pipes/68565.html

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Masan Group honored in Top 50 Corporate Sustainability Awards 2022

During the Sustainable Development “Good for business, Good for planet” Conference held by Nhip Cau Dau Tu magazine on Wednesday, Masan Group was honored in the Top 50 Corporate Sustainability Awards 2022.

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This award aims to promote the sustainable development trend spreading among the business community and Vietnamese society and honor businesses that typically implement sustainable development strategies and adopt commitments for green growth and community responsibilities.

Top 50 Corporate Sustainability Enterprises 2022 were evaluated and voted based on five main assessment criteria: Stable growth, Sustainable corporate culture, Corporate governance, Environment protection, and Social responsibility. The judicial panel is reputable international and local experts.

Honoring green businesses, serving the community

Recently, awareness development towards systemic issues including climate change, diseases, natural resource depletion, and gender inequality has promoted investment trends following ESG criteria or sustainable investment in the region. Recognizing this importance, the Government signed Decision No. 167/QD-TTg approving the “Program to support private business sector in sustainable development period 2022 – 2025”.

The program aims to raise awareness of the private sector business community’s role and the importance of sustainable business.

Along with business, sustainable development is a key pillar of Masan’s strategy. Masan’s sustainability initiatives are focused on bringing value to social life and contributing to local communities.

WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan
WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan

Masan Group has continuously been researching and leading utility trends to improve Vietnamese material and spiritual lives and contribute to the country’s overall development.

The Vietnamese private conglomerate was recently honored in the Top 50 listed companies in 2022 held by Forbes Vietnam Magazine, for ten consecutive years. And Top 10 at Vietnam Top 50 Public Companies (VIX50) conducted by Vietnam Report.

This is the best result of Masan’s ceaseless efforts in the journey of serving our consumers and developing businesses in parallel with sustainable development. At the same time, it is the motivation for Masan constantly creates more and more quality products and services, contributing to the general development of the community, society, and the country.

Masan’s sustainable development journey

Since the early days of Masan’s establishment, community development and social responsibility have been among its sustainable development goals. Masan Group, Vietnam’s leading consumer-focused business group, believes in “Doing well by doing good” when serving the daily essential needs of consumers. Community initiatives are an essential part of its mission to improve the lives of nearly 100 million Vietnamese consumers.

The largest modern retailer with nearly 3,000 WinMart/WinMart+ supermarket and mini-marts – WinCommerce always upheld the spirit of Vietnamese people using domestic goods and keeping the retail sector for Vietnamese people.

As a result, Vietnamese goods make up 90% of products sold in the system. MEATDeli produces meat products with European standards and provides world-class animal protein for Vietnamese consumers.

Along with that, Masan Consumer also preserves and brings Vietnamese culinary culture to the world through familiar brands of fish sauce, soy sauce, instant noodles, chili sauce, etc. At the same time, it encourages Vietnamese manufacturers to upgrade to international standards and enhances the competitiveness of domestic goods.

Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan
Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan

Masan High-Tech Materials (MHT), the world’s leading manufacturer of high-tech tungsten metal powders and tungsten carbide (mid-stream tungsten products), always focuses on environmental protection and sustainable development. With the potential of the state-of-the-art mining and processing technology, constant innovation, research, and development of products, over the years.

Masan High-Tech Materials demonstrates sustainable and responsible mining practices complying with leading international standards, ensuring minimization of resource losses and optimization of the value of natural resources, with a mineral recovery rate of over 96%. Besides, MHT also brings outstanding contributions to Vietnam’s economy, society, and sustainable livelihoods for thousands of local workers.

In 2021, Masan Group contributed nearly VND 5,450 billion to the State budget. Since 2021, the Group has contributed more than VND 500 billion to activities to support local residents and frontline workers in the fight against the Covid-19 epidemic and to implement various community health and social security projects.

Recently, the Group sponsored eye surgery for 1,000 people in 2 provinces of Binh Thuan and Kien Giang and donated to the Ho Chi Minh City “For the national sea and islands – For the fatherland frontline” Fund 2022. 

Source: https://e.nhipcaudautu.vn/companies/masan-group-honored-in-top-50-corporate-sustainability-awards-2022-3347253/

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