Business
Novaland contributes to Top 50 Corporate Sustainability Awards 2022
Published
7 months agoon
This is an award to honor exceptional enterprises in implementing development strategies, committing to green growth, and implementing community responsibilities. Award-winning enterprises were voted based on specific criteria: (1) Stable growth, (2) Solid corporate culture, (3) Corporate governance, (4) Environmental protection, (5) Social responsibility.
The program received data and advice from the Appraisal Council consisting of representatives from HSBC Bank, Deloitte Vietnam, FTI, Talentnet, Research, and Development Institute of Circular Economy, and leading economic and business experts from Harvard Business School, etc to ensure objectivity and scientific quality in the assessment.
According to the representative of the Organizing Committee, this program aims to contribute to promoting the sustainable development trend that spreads far and wide in the business community and Vietnamese society. Thereby, it aids to recognize and honor businesses that have contributed to sustainable development, environmental friendliness, and social justice.
At the same time, outstanding businesses with many social and environmental initiatives also inspire the community and other businesses to practice sustainable development in the most practical and effective way.
Novaland, a member of the NovaGroup ecosystem, is a leading prestigious brand in the field of real estate investment and development in Vietnam.
After 30 years of establishment and development, Novaland focuses on the mission of investing and developing large-scale real estate projects in the central and neighboring areas of Ho Chi Minh City as well as southern provinces with great potential for tourism development; continuing to create products associated with a closed utility ecosystem with an expanded design in the direction of green, sustainable, low-emission space development following the spirit of the National Housing Development Strategy in the period of 2021 – 2030, with a vision to 2045 approved by the Prime Minister.
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NovaWorld Phan Thiet tourism urban area of 1,000ha has been put into operation in phase 1 with many diverse and attractive utilities. Photo: Novaland |
In addition to sustainable business activities, Novaland always accompanies the Government and the community in many social security activities, joining hands to fight the epidemic with a total contribution of more than VND1,000 billion so far.
Remarkably, the company has held meaningful and urgent action programs such as donating to the Covid-19 vaccine fund, providing ambulances and specialized medical equipment, speeding up the construction progress of concentrated isolation areas, Thu Dung field hospital, Covid-19 positive resuscitation center, launching the program Supermarket with zero dong to bring food to isolated and difficult circumstances, and nutritious meals prepared with love to give to doctors on the front lines of the fight against the epidemic.
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Novaland completes construction of field hospital for Covid-19 treatment No. 2. Photo: Novaland |
In 2022, Novaland continues to commit to making strong contributions to joint efforts to overcome the consequences of the Covid-19 pandemic in four areas: Health, Education, Social Security and Community Development; strengthen cooperation in implementing activities to respond to climate change – towards millions of beneficiaries including workers, customers, partners, local authorities and people, students, teachers, lecturers, athletes, etc.
For example, Novaland launched the project Green up Vietnam – Millions of trees for a bright life, which contributed to enhancing green space and protecting the psychological health of residents and local people; planning to build and operate the inter-level school for grades 1-12 in Tien Thanh commune, Phan Thiet city, Binh Thuan province, which provided free tuition for 500 students with difficult circumstances; launching garbage separation project in urban areas or project developed by Novaland, which raised awareness of green living and joining hands to reduce plastic waste in project areas…
Recently, at the conference “Promoting the development of social housing for workers and low-income people” chaired by Prime Minister Pham Minh Chinh at Government Headquarters, Novaland Group pledged to be ready to take on the mission to invest in building 200,000 social housing apartments to cope with the urgent needs of workers and low-income people.
Novaland believes this is the goal that the Group will complete to contribute to the Government’s efforts in the program to solve social housing and housing for workers.
As one of the top real estate investment and development enterprises with sustainable development goals, Novaland constantly cultivates, learns and updates researches, initiatives, international practices and conventions as well as the 17 Sustainable Development Goals of the United Nations.
With flexible adaptability built from core values and goals, as long as long-term vision, Novaland continues to affirm the right direction in strategy and sustainable commitments to the community.
► 50 typical sustainability firms honored by Nhip Cau Dau Tu magazine
Source: https://e.nhipcaudautu.vn/companies/novaland-contributes-to-top-50-corporate-sustainability-awards-2022-3347243/
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The Vietnamese low-cost electric vehicle (EV) market is promising to boom with a series of Chinese brands launching plans to assemble and distribute their products in Vietnam.
The local EV market may be flooded with super cheap units although the after-sales service and quality of these vehicles are unknown.
Bui Van Huu, chairman of TMT Automobile Joint Stock Company (TMT Motors), a Vietnamese auto firm, said his company will pioneer the distribution of China’s HongGuang MiniEVs 4 in Vietnam.
The firm joined hands with the joint venture of General Motors and SAIC – WULING in mid-February this year to exclusively manufacture, assemble, and distribute EVs of General Motors and SAIC – WULING in Vietnam.
According to TMT Motors, the EVs will be assembled in a factory in Hung Yen Province, northern Vietnam with a capacity of 30,000 units per year. The vehicles are suitable for use in urban areas and can replace motorbikes.
HongGuang MiniEVs are priced at over US$4,000 each. The price in Vietnam has yet to be announced officially but it was supposed to range between VND100-260 million ($4,263-11,085) each.
Meanwhile, the lowest price of EVs of other auto firms, such as VinFast, MG, Kia, Mercedes, and Audi, are at about VND700 million ($29,794) each, while some cost up to VND6 billion ($255,794) apiece.
The trend of Chinese automobile enterprises flocking to Vietnam continues with Haima returning to the Southeast Asian country early this year. The firm previously withdrew from the Vietnamese market due to ineffective business.
Haima has sought assemblers and traders for Haima 8S, 7X, and 7X-E models in Vietnam.
The general director of an auto assembler in Ho Chi Minh City told Tuoi Tre (Youth) newspaper that Chinese EV brands have returned to the Vietnamese market with many products. His company has also assembled several electric car and truck models.
He said that low-cost EVs are priced at some VND200-260 million ($8,526-11,085) each, adding that they cannot travel over a long distance at a high speed. However, they will still have their market due to the low costs.
According to some other experts, the low cost is not a decisive factor to attract buyers.
In Vietnam, small autos, such as Honda Brio, Toyota Wigo, and Suzuki Celerio, which are priced at VND350-500 million ($14,899-21,284) each, have experienced a slump.
Associate Professor Dr. Ly Hung Anh from the Ho Chi Minh City University of Technology said in 1998-2005, a huge volume of Chinese low-cost motorbikes entered the Vietnamese market at VND6-8.5 million ($255-361) each.
The loose management caused the local market to be flooded with poor-quality, unsafe, and environmentally polluting vehicles.
They were later abandoned gradually and have nearly disappeared from the domestic market.
Anh said if EVs are manufactured in high volume and with low costs, risks will outweigh the benefits.
Nguyen Minh Dong, another auto expert, shared the view, calling on consumers not to boycott Chinese-made vehicles.
The development of budget mini EVs is a positive trend but the vehicles and their batteries should be managed closely to protect the environment.
Many auto experts agreed that low-cost EVs may apply outdated technology. It is a must to prevent Vietnam from becoming a dumping site of EV batteries, not to mention risks to traffic safety.
Therefore, the import of equipment for EV manufacturing and assembly should be put under strict control, Dong noted.
Tran Nhu Phuong, deputy general director of Ford Suoi Tien in Ho Chi Minh City, said all cars are checked before being put into use.
However, criteria and standards for EVs, batteries, and charging stations need improving.
Chinese autos: easy to buy, hard to resell
Gasoline- and oil-powered cars made in China have been increasingly imported into Vietnam.
After using a Beijing X7 car for a year, Nguyen Trong, residing in Binh Thanh District, Ho Chi Minh City, said he is satisfied with the vehicle.
Chinese autos are at an advantage in features and fittings compared with other autos in the same segments and with equivalent prices.
“Many people have asked me if the car is durable and if I feel secure when using it,” Trong added.
“Honestly, I have used it for over a year, so I do not dare to affirm its quality but its technology and design are good. It’s convenient to drive it in the inner city.’
At present, ‘made-in-China’ autos are sold in Vietnam at below VND800 million ($34,108) each. For example, Zotye T800, Dongfeng T5, and Beijing X7 cost VND728 million ($30,988), VND700 million ($29,796), and VND750 million ($31,925) apiece.
However, second-hand auto traders are hesitant about Chinese-origin cars.
Quoc Hung, the owner of an old auto showroom called Hung Auto in Thu Duc City, under Ho Chi Minh City, said second-hand autos with Japanese, South Korean, and German brands have higher costs than Chinese ones.
Hung earlier bought a Baic Q7 unit which had run over 20,000 kilometers at VND390 million ($16,600) but he could not find a buyer for the vehicle after three to four months.
As a result, he had to suffer a loss of some VND30 million ($1,278) to sell the car.
According to the General Department of Vietnam Customs, 17,340 Chinese autos worth more than $714 million were imported into Vietnam last year.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
The Vietnamese low-cost electric vehicle (EV) market is promising to boom with a series of Chinese brands launching plans to assemble and distribute their products in Vietnam.
The local EV market may be flooded with super cheap units although the after-sales service and quality of these vehicles are unknown.
Bui Van Huu, chairman of TMT Automobile Joint Stock Company (TMT Motors), a Vietnamese auto firm, said his company will pioneer the distribution of China’s HongGuang MiniEVs 4 in Vietnam.
The firm joined hands with the joint venture of General Motors and SAIC – WULING in mid-February this year to exclusively manufacture, assemble, and distribute EVs of General Motors and SAIC – WULING in Vietnam.
According to TMT Motors, the EVs will be assembled in a factory in Hung Yen Province, northern Vietnam with a capacity of 30,000 units per year. The vehicles are suitable for use in urban areas and can replace motorbikes.
HongGuang MiniEVs are priced at over US$4,000 each. The price in Vietnam has yet to be announced officially but it was supposed to range between VND100-260 million ($4,263-11,085) each.
Meanwhile, the lowest price of EVs of other auto firms, such as VinFast, MG, Kia, Mercedes, and Audi, are at about VND700 million ($29,794) each, while some cost up to VND6 billion ($255,794) apiece.
The trend of Chinese automobile enterprises flocking to Vietnam continues with Haima returning to the Southeast Asian country early this year. The firm previously withdrew from the Vietnamese market due to ineffective business.
Haima has sought assemblers and traders for Haima 8S, 7X, and 7X-E models in Vietnam.
The general director of an auto assembler in Ho Chi Minh City told Tuoi Tre (Youth) newspaper that Chinese EV brands have returned to the Vietnamese market with many products. His company has also assembled several electric car and truck models.
He said that low-cost EVs are priced at some VND200-260 million ($8,526-11,085) each, adding that they cannot travel over a long distance at a high speed. However, they will still have their market due to the low costs.
According to some other experts, the low cost is not a decisive factor to attract buyers.
In Vietnam, small autos, such as Honda Brio, Toyota Wigo, and Suzuki Celerio, which are priced at VND350-500 million ($14,899-21,284) each, have experienced a slump.
Associate Professor Dr. Ly Hung Anh from the Ho Chi Minh City University of Technology said in 1998-2005, a huge volume of Chinese low-cost motorbikes entered the Vietnamese market at VND6-8.5 million ($255-361) each.
The loose management caused the local market to be flooded with poor-quality, unsafe, and environmentally polluting vehicles.
They were later abandoned gradually and have nearly disappeared from the domestic market.
Anh said if EVs are manufactured in high volume and with low costs, risks will outweigh the benefits.
Nguyen Minh Dong, another auto expert, shared the view, calling on consumers not to boycott Chinese-made vehicles.
The development of budget mini EVs is a positive trend but the vehicles and their batteries should be managed closely to protect the environment.
Many auto experts agreed that low-cost EVs may apply outdated technology. It is a must to prevent Vietnam from becoming a dumping site of EV batteries, not to mention risks to traffic safety.
Therefore, the import of equipment for EV manufacturing and assembly should be put under strict control, Dong noted.
Tran Nhu Phuong, deputy general director of Ford Suoi Tien in Ho Chi Minh City, said all cars are checked before being put into use.
However, criteria and standards for EVs, batteries, and charging stations need improving.
Chinese autos: easy to buy, hard to resell
Gasoline- and oil-powered cars made in China have been increasingly imported into Vietnam.
After using a Beijing X7 car for a year, Nguyen Trong, residing in Binh Thanh District, Ho Chi Minh City, said he is satisfied with the vehicle.
Chinese autos are at an advantage in features and fittings compared with other autos in the same segments and with equivalent prices.
“Many people have asked me if the car is durable and if I feel secure when using it,” Trong added.
“Honestly, I have used it for over a year, so I do not dare to affirm its quality but its technology and design are good. It’s convenient to drive it in the inner city.’
At present, ‘made-in-China’ autos are sold in Vietnam at below VND800 million ($34,108) each. For example, Zotye T800, Dongfeng T5, and Beijing X7 cost VND728 million ($30,988), VND700 million ($29,796), and VND750 million ($31,925) apiece.
However, second-hand auto traders are hesitant about Chinese-origin cars.
Quoc Hung, the owner of an old auto showroom called Hung Auto in Thu Duc City, under Ho Chi Minh City, said second-hand autos with Japanese, South Korean, and German brands have higher costs than Chinese ones.
Hung earlier bought a Baic Q7 unit which had run over 20,000 kilometers at VND390 million ($16,600) but he could not find a buyer for the vehicle after three to four months.
As a result, he had to suffer a loss of some VND30 million ($1,278) to sell the car.
According to the General Department of Vietnam Customs, 17,340 Chinese autos worth more than $714 million were imported into Vietnam last year.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Source: https://tuoitrenews.vn/news/business/20230316/vietnam-to-see-wave-of-chinese-budget-ev-imports/72115.html
Business
Vietnamese carriers gear up to resume air service to China
Published
4 days agoon
March 16, 2023Aside from efforts to increase the flight frequency and prepare an adequate volume of aircraft, Vietnamese carriers have closely teamed up with travel firms and their partners to resume charter flights between Vietnam and China.
China’s move to add Vietnam to its list of countries which will play host to group tours from China starting March 15 has sent good vibes to not only the tourism sector but also the aviation sector in Vietnam, said a representative of Vietravel Airlines, a Vietnamese carrier.
With its competitive edge of being under Vietravel Holdings, whose chairman is Nguyen Quoc Ky, Vietravel Airlines stays ready to serve a large number of potential customers, especially during the peak travel season in summer, the carrier’s representative added.
Vietravel Airlines and local tour operator Vietravel, another subsidiary of Vietravel Holdings, recently clinched deals with their partners to operate charter flights to and from China in the upcoming period, the representative continued.
The carrier will focus on offering air services on some routes linking major Chinese cities with Nha Trang, a beach destination in Vietnam’s south-central province of Khanh Hoa, such as Hangzhou-Cam Ranh, Changzhou-Cam Ranh, Kunming-Cam Ranh.
As for Vietnam Airlines, Vietnam’s national flag carrier, it plans to raise the number of flights to and from China and to resume services on nine out of ten routes between Vietnam and China in April this year.
Low-cost carrier Vietjet will also increase the frequency of charter flights between China and Cam Ranh City of Khanh Hoa Province to 20 by the end of this month.
Though all basic preparations are underway to welcome group tours from China, more problems would arise, including possibly disrupted flight schedules, a local airline representative told Tuoi Tre (Youth) newspaper.
This representative explained that it was hard to ensure punctual landings and takeoffs at Chinese airports, affecting the departure and arrival of other flights like a domino effect.
Nguyen Quoc Phuong, deputy general director of Airports Corporation of Vietnam, or ACV, which operates 22 airports in Vietnam, said the number of passenger flights to and from China will be modest at the beginning.
The current frequency of flights to and from China at Tan Son Nhat International Airport in Ho Chi Minh City remains lower than that recorded at Cam Ranh International Airport in Khanh Hoa, he added.
Apart from Vietnamese airlines, some Chinese airlines such as China Southern and Sichuan Airlines have signed deals with aviation ground service providers to welcome Chinese visitors at the Tan Son Nhat and Cam Ranh airports.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Aside from efforts to increase the flight frequency and prepare an adequate volume of aircraft, Vietnamese carriers have closely teamed up with travel firms and their partners to resume charter flights between Vietnam and China.
China’s move to add Vietnam to its list of countries which will play host to group tours from China starting March 15 has sent good vibes to not only the tourism sector but also the aviation sector in Vietnam, said a representative of Vietravel Airlines, a Vietnamese carrier.
With its competitive edge of being under Vietravel Holdings, whose chairman is Nguyen Quoc Ky, Vietravel Airlines stays ready to serve a large number of potential customers, especially during the peak travel season in summer, the carrier’s representative added.
Vietravel Airlines and local tour operator Vietravel, another subsidiary of Vietravel Holdings, recently clinched deals with their partners to operate charter flights to and from China in the upcoming period, the representative continued.
The carrier will focus on offering air services on some routes linking major Chinese cities with Nha Trang, a beach destination in Vietnam’s south-central province of Khanh Hoa, such as Hangzhou-Cam Ranh, Changzhou-Cam Ranh, Kunming-Cam Ranh.
As for Vietnam Airlines, Vietnam’s national flag carrier, it plans to raise the number of flights to and from China and to resume services on nine out of ten routes between Vietnam and China in April this year.
Low-cost carrier Vietjet will also increase the frequency of charter flights between China and Cam Ranh City of Khanh Hoa Province to 20 by the end of this month.
Though all basic preparations are underway to welcome group tours from China, more problems would arise, including possibly disrupted flight schedules, a local airline representative told Tuoi Tre (Youth) newspaper.
This representative explained that it was hard to ensure punctual landings and takeoffs at Chinese airports, affecting the departure and arrival of other flights like a domino effect.
Nguyen Quoc Phuong, deputy general director of Airports Corporation of Vietnam, or ACV, which operates 22 airports in Vietnam, said the number of passenger flights to and from China will be modest at the beginning.
The current frequency of flights to and from China at Tan Son Nhat International Airport in Ho Chi Minh City remains lower than that recorded at Cam Ranh International Airport in Khanh Hoa, he added.
Apart from Vietnamese airlines, some Chinese airlines such as China Southern and Sichuan Airlines have signed deals with aviation ground service providers to welcome Chinese visitors at the Tan Son Nhat and Cam Ranh airports.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Source: https://tuoitrenews.vn/news/business/20230315/vietnamese-carriers-gear-up-to-resume-air-service-to-china/72107.html
Business
WB forecasts Vietnam’s 2023 growth at 6.3%
Published
5 days agoon
March 15, 2023Vietnam’s economic growth is projected to ease to 6.3 percent in 2023 from a robust 8 percent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s report released on March 13.
In its Taking Stock report’s March 2023 edition entitled “Harnessing the potential of the services sector for future growth,” the WB provided recommendations for reforms to tap into the potential of the service sector.
It said the service sector will grow moderately, mostly driven by domestic demand which may be affected by higher estimated inflation of 4.5% this year. The economy is expected to benefit from part of the 2022-2023 economic support programme. A flexible monetary policy, in combination with fiscal policy objectives, should help keep domestic inflation in check.
WB Country Director in Vietnam Carolyn Turk said Vietnam has the fiscal space to implemet measures to boost growth, unlike many other countries. “Effective implementation of priority public investments is key to support growth, both in the short-term and in the longer-term. Also, fiscal and monetary policies must be synchronised to ensure that support to the economy and macroeconomic stability are achieved effectively,” she said.
Service has become the largest sector of Vietnam’s economy, increasing from 40.7% of GDP in 2010 to 44.6% in 2019. The employment share of the sector also rose from 29.6% in 2010 to 35.3% in 2019. As the largest source of employment, it has absorbed a significant portion of the workforce from the agriculture sector.
However, labour productivity and efficiency in Vietnam’s service sector remain low compared to other countries, reaching 5,000 USD per worker in 2019 in comparison to 20,900 USD in Malaysia, 9,300 USD in the Philippines and 7,300 USD in Indonesia.
According to WB senior economist Dorsati Madani, if utilised effectively, the service sector could play an important role in supporting Vietnam’s sustainable productivity growth and achieving the goal of becoming a high-income economy by 2045. Priority should be given to removing trade and foreign investment barriers in this sector and launching reforms to improve competition and access to finances for domestic firms. Services that can further drive growth in other industries, specifically in manufacturing and processing, should be heeded.
Source: Vietnamplus
Source: https://e.nhipcaudautu.vn/economy/wb-forecasts-vietnams-2023-growth-at-63-3351186/

Breakfast @ Tien Phong News – March 16

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Vietnam’s Quang Ninh steps up tour guide training to prepare for Chinese tourist arrivals

Man murdered over loud karaoke in Vietnam’s Da Nang

Việt Nam shocks Australia in U20 Asian Cup opening game

Booking.com names Vietnam’s top 10 friendliest destinations

Fire at Indonesia’s Pertamina fuel storage station kills 17

Phan Anh Tuấn introduces Vietnamese culture at Bangkok Design Week 2023

Film week to celebrate 80th anniversary of Party’s first platform on culture

First Vietnamese representative at a Winter Olympic

Da Nang museums attracting domestic visitors with free entry policy

Nom, nom, Việt Nam – Episode 76: Fried cheese sticks

In Sa Pa, ethnic children forced to peddle on streets in bitterly cold night
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