Day: May 8, 2024

In the southern region culture, muc dong (herdsmen) are more than just men or young boys tending to grazing oxes and cows, they are believed to be the ascendants of ‘Than Nong’ (Shennong – deity of agriculture). In the central province of Da Nang’s Phong Le village, Muc dong festival is held every three years to honour the herdsman’s hard work and the mythical powers of Than Nong. This is the one and only festival in Vietnam held for herdsman. This year, the festival is taking place from May 7 – 8 (March 29 and April 1 in lunar calendar), including three ceremonies and various activities. The first ceremony takes place at the local temple worshipping Than Nong, then the procession walks from the temple to ‘con Than’ (the deity’s mound) for a second ceremony. The second ceremony invites the deity’s spirit to join the festival, followed by another procession to carry the spirit to the village’s communal house. The third ceremony takes place inside the communal house, where heads of households pray for their fa
mily’s well-being, prosperity and bumper crop. After the ceremony, locals sing and dance about Than Nong and pray for favourable weather. The event re-enacts a traditional ritual practice of locals in Hoa Vang district, with the aim to educate younger generations on local culture and to attract visitors to the district.

Source: Vietnam News Agency

MANILA: D and L Industries, the country’s largest manufacturer of food ingredients and oleochemicals, has seen a sharp recovery in exports from January to March 2024 that boosted the operations of its newest production line in Batangas province.

In a virtual media briefing Wednesday, D and L president and chief executive officer Alvin Lao reported that the company’s export revenues for the first quarter of 2024 jumped 32 percent, nearing its record-high full-year export growth of 33 percent in 2021.

Lao said D and L’s exports in the first quarter (Q1) of 2024 increased to PHP2.9 billion from PHP2.1 billion in the same period last year.

A bulk, or 51 percent, of the exports are food, followed by oleochemicals at 33 percent, and specialty plastics at 16 percent.

Lao said that with the improvement in overseas orders, D and L’s Batangas plant has exceeded its export commitment to the Philippine Economic Zone Authority (PEZA). Based on its pledge to PEZA, at least half of the output from the Batangas plant sho
uld be sold to foreign markets.

As of March 2024, the Batangas plant has delivered 230 percent of its first-year commitment to PEZA.

D and L’s latest manufacturing plant began its commercial operation in July 2023.

‘Our long-term goal is to eventually hit 50 percent of revenue coming from exports,’ Lao said.

There will be new clients for D and L this year that will further boost the operations of the Batangas line, he added.

With the improvement in export orders that boosted the operation of the Batangas plant, Lao expects that the Batangas facility will break even ahead of schedule, which is initially expected in two years.

D and L spent PHP10.5 billion to build its newest production facility in Batangas.

In Q1 2024, D and L’s net income grew by 4 percent to PHP618 million from PHP594 million in Q1 last year.

Lao said increasing the local sourcing for D and L will help the company improve its net income as this will shield the listed firm from the volatile price in the global market and foreign excha
nge rate.

‘We want to source as much as possible primarily, because it means we don’t need to buy in dollars,’ Lao said.

Source: Philippines News Agency

Link Station, one of the IT companies in Japan’s Aomori prefecture, has an ambitious plan to develop its branch in Vietnam into one of its central offices in Southeast Asia. In recent years, many foreign companies, including Japanese IT enterprises, have shown significant interest in Vietnam – a dynamic and potential market that is expected to help them expand their business in Asia.

Source: Vietnam News Agency

Hanoi’s total retail sales of goods and consumer services revenue reached 266.2 trillion VND (10.46 billion USD) in the first four months of this year, up 9% year-on-year, according to the municipal People’s Committee. In the period, passenger transport increased significantly, reaching 135.2 million arrivals, up 13.3% year-on-year, while revenue hit 7.2 trillion VND, up 17.5%. Meanwhile, the volume of goods transported reached 526.4 million tonnes, up 15.7%, resulting in 30 trillion VND, up 17.1% over the same period last year. In addition, revenue from transportation support activities reached 29.1 trillion VND, a year-on-year rise of 7.6%.

Source: Vietnam News Agency

Vietnam’s inbound tourism is experiencing a remarkable resurgence, exceeding pre-pandemic levels as of the late April, signaling a promising season for the sector. Statistics from the Vietnam National Administration of Tourism (VNAT) showed that in April alone, the country welcomed nearly 1.6 million foreign arrivals, a 58.2% increase compared to the same period last year. This momentum propelled the total number of international arrivals in the first four months of this year to 6.2 million, representing a 68.3% annual growth. This figure surpassed that recorded during the pre-pandemic “golden era” of tourism. Revenue generated by accommodation and dining services was estimated at 237.3 trillion VND (9.88 billion USD), up 15.3% while tourism revenue grew by 49.3% year-on-year to 19.4 trillion VND.

Source: Vietnam News Agency