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Masan’s ambition to turn Vietnam into a Tungsten recycling technology centre

Masan Group also seeks the Vietnamese Government’s support in reviewing and approving of the import of tungsten scrap to ensure stable raw material supply for the Tungsten Scrap Recycling Project.

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Masan Group looks forward to the Vietnamese Government’s support in reviewing and approving the import of tungsten scrap to ensure stable raw material supply for the Tungsten Scrap Recycling Project, a key project Masan has been putting tremendous efforts into research and implementation with the ambition to turn Vietnam into a tungsten recycling technology centre, according to CEO of Masan Group, Mr. Danny Le, at the Vietnam – Germany Business Roundtable in the presence of Vietnam’s Prime Minister H.E. Mr. Pham Minh Chinh and Germany Chancellor Olaf Scholz on the evening of 13 November. 

An excellent strategic partnership

“As one of the leading private sector groups in Vietnam, Masan actively seeks and develops relationships with major partners worldwide in the fields we do business” said, CEO Danny Le.

Speaking to the two countries’ heads of Government, CEO Danny Le remarked that Masan first established relationship with German businesses in 2013, when the Group was seeking tungsten refining technology to fulfill its commitment to the Vietnamese Government on going downstream to elevate the value of Vietnam’s industrial minerals.

Masan chose to partner with H.C. Starck GmbH (HCS) as the company was a leading business in Tungsten refining & recycling technology in Germany with over 100 years of experience, as well as one of the few companies in the world with a comprehensive and environment-friendly Tungsten recycling platform.

In 2020, Masan acquired a full 100% stake in H.C. Starck’s global tungsten business. This €80 million transaction allows Masan to officially take over H.C. Starck’s tungsten manufacturing plants in Germany, Canada, and China with a total capacity of about 13,300 tons of high-value tungsten products, making Vietnam the world’s largest tungsten producer outside of China.

The acquisition of H.C. Starck’s tungsten business has helped Masan expand our market and client base to more than 50 countries, affirm Vietnam’s increased competitiveness in the international tungsten market and uncover possibilities to train and develop technical expertise in Vietnam’s high-tech materials industry.

Mr. Danny Le - General Director of Masan Group spoke at the Vietnam Germany Business Roundtable
Mr. Danny Le – General Director of Masan Group spoke at the Vietnam Germany Business Roundtable

Vietnam will have the first Tungsten Recycling Plant?

Germany is currently Vietnam’s major trading partner in Europe, as well as an important gateway for Vietnamese exports to other European markets. From 2017 to date, bilateral trade has averaged US$9-10 billion every year, with a total of US$11.22 billion in 2021. Vietnamese firms have 36 valid investment projects in Germany as of October 2022, with a total adjusted investment capital of more than US$283.3 million.

Chancellor Olaf Scholz said German corporations and businesses are increasingly interested in Vietnam, particularly in the fields of renewable energy and manufacturing industry. He suggested that the two countries’ businesses shake hands in order to collaborate and grow together to strengthen these fields.

Mr. Danny Le, CEO of Masan Group, emphasized “In light of the global trend of accelerating a circular economy to achieve sustainable development goals, and on the basis of the success of the tungsten refining project using high technology, Masan together with H.C. Starck go on to conduct research and planning for construction of the first tungsten recycling plant in Vietnam. The project aims to make Vietnam the region’s leading technology centre for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities”.

In July 2022, Masan Group signed an investment cooperation agreement with NyoBolt. Photo: Masan
In July 2022, Masan Group signed an investment cooperation agreement with NyoBolt. Photo: Masan

At the business conference, Mr. Danny Le also shared about the recent news of H.C. Starck’s investment of GBP 45 million in Nyobolt – a fast-charging Lithium-ion battery technology company in the United Kingdom. Nyobolt’s technology employs H.C. Starck’s high-tech Tungsten materials in the battery anode coating to produce batteries of superior quality. Tungsten-based Lithium-ion batteries have super-fast charging speed with 90 percent charged in less than 5 minutes. With up to 10 times higher power density, the battery has longer durability and saves cost of battery usage. Having less thermal stress than conventional graphite-based batteries, there is a reduced risk of fire and explosion, thus increasing safety for end-users.

“By 2027, Masan will not only be the world’s leading supplier of high-tech materials, but also an innovation leader in global consumer technology products, with high-efficiency rechargeable Li-ion battery being the first-to-market”, stated Mr. Danny Le.

Mr. Danny Le went on to propose that the Germany Government consider an Energy Cost Support Scheme for energy-intensive businesses like H.C. Starck and adopt a more flexible policy approach enabling greater access to strategic raw materials sources critical to HCS’ Tungsten recycling technology in Germany.

Masan Group also seeks the Vietnamese Government’s support in reviewing and approving of the import of tungsten scrap to ensure stable raw material supply for the Tungsten Scrap Recycling Project – a key project that the Group has been putting all efforts into research and implementation with the ambition to turn Vietnam into the region’s leading technology centre for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities.

Source: https://e.nhipcaudautu.vn/companies/masans-ambition-to-turn-vietnam-into-a-tungsten-recycling-technology-centre-3349042/

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Vietnam Real Estate Credit Soars to $109 Billion in 2022

Vietnam’s real estate sector saw a surge in credit in 2022, with outstanding loans reaching 2.58 million billion VND, equivalent to $109 billion, up 24.27% from the end of 2021.

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The State Bank of Vietnam hosted a Real Estate Credit Conference on February 8th, in Hanoi, where the news was announced.

This sector saw the fastest growth, accounting for 21.2% of total outstanding loans to the economy, the highest in the past five years.

Outstanding loans for real estate business increased by 11.5%, while consumer/self-use credit balance increased by 31.1%. Housing needs accounted for 62.19% of outstanding loans, while land use rights accounted for 20.66%.

The State Bank is committed to ensuring safe and effective growth in the real estate sector, controlling credit risk and promoting stability. 

It will continue to operate monetary policy firmly and flexibly, creating favorable conditions for the real estate sector to grow and develop. 

The legal framework on credit and banking activities will also be improved to increase access to credit for people and businesses, including the real estate sector.

Credit institutions will be directed to focus on feasible projects with good sales ability and to minimize operating costs and administrative procedures. 

The State Bank will control credit risk for the high-end real estate segment, which has excess supply, and control credit concentration to ensure operational safety of the bank.

Overall, the State Bank of Vietnam is dedicated to supporting the growth and stability of the real estate sector, contributing to macroeconomic stability and supporting economic growth.

Source: ZingNews

Source: https://e.nhipcaudautu.vn/real-estate/vietnam-real-estate-credit-soars-to-109-billion-in-2022-3350491/

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Vietnam Airlines to reopen more air routes to China

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Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

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Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230208/vietnam-airlines-to-reopen-more-air-routes-to-china/71400.html

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Vietnam Airlines performs worst among local airlines in on-time ratings: report

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National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230207/vietnam-airlines-performs-worst-among-local-airlines-in-ontime-ratings-report/71379.html

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