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Việt Nam imports flowers worth $18m for Tết

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HANOI: Việt Nam imported flowers and ornamental plants worth US$18 million from December 1, 2017, to January 31, 2018, for the Lunar New Year. This is a sharp increase of 46.8 per cent against last year, according to the General Department of Customs. The countries witnessing a high surge in export value of these products to Việt Nam included the ... Read More »

Vietnam eyes 21b USD in cultivation exports in 2018

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HANOI: The cultivation sector aims to gross over 21 billion USD in export turnover in 2018, representing a year-on-year rise of 2.2-2.3 percent, according to the Ministry of Agriculture and Rural Development. Localities will continues shifting their plant structure to grow more profitable crops adaptive to climate change such as corns, vegetables and fruits and developing aquaculture, especially in the ... Read More »

Numerous challenges facing Vietnam’s exports in 2018

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HANOI: Observing favourable indicators in exports over 2017, Duong Duy Hung, head of the Planning Department under the Ministry of Industry and Trade (MoI), said export markets continued their expansion to reach more than 200 trade partners covering 29 markets with an export value of over US$1 billion each, and four with a value of US$10 billion each. Robust patterns ... Read More »

VN aims to expand meat exports

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HANOI: Việt Nam is trying to tackle the weakness of the pig industry, including the processing and distribution of pork, to promote the export of high-quality meat products to the world market. The statement was made by Minister of Agriculture and Rural Development (MARD) Nguyễn Xuân Cường while attending the groundbreaking ceremony for Masan Group’s meat processing complex in the northern province of Hà Nam on February ... Read More »

Vietnam’s coffee exports may climb 9% on rising production

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HANOI: Coffee shipments from Vietnam, the world’s biggest robusta producer, will surge this year as farmers harvest a bigger crop, according to Industry and Trade Minister Tran Tuan Anh. Exports may total 1.55 million metric tons in 2018, Anh said in a written response to Bloomberg questions. Production is set to increase about 4.5 percent to 1.6 million tons in ... Read More »

Vietnam’s coffee exports may climb 9% on rising production

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HANOI: Coffee shipments from Vietnam, the world’s biggest robusta producer, will surge this year as farmers harvest a bigger crop, according to Industry and Trade Minister Tran Tuan Anh. Exports may total 1.55 million metric tons in 2018, Anh said in a written response to Bloomberg questions. Production is set to increase about 4.5 percent to 1.6 million tons in ... Read More »

Vietnam protests Saudi Arabia’s seafood import ban

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HANOI: Vietnam has sent a diplomatic note to oppose a seafood import suspension imposed recently by Saudi Arabia, calling on the country to withdraw its decision. Vietnam’s vice minister of agriculture, Vu Van Tam, delivered the ministry’s diplomatic note to Saudi Arabia’s ambassador to Vietnam, Dakhil Al Johani, in a meeting in Hanoi on 7 February, the Vietnam Association of ... Read More »

Vietnam pulls request for US help to build a coal-fired power plant

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HANOI: Vietnamese company is no longer seeking US financial support to build a coal-fired power plant in Vietnam, bringing to an abrupt end a closely watched test of whether Washington would back international projects that could potentially contribute to climate change. On Thursday, the Export-Import Bank of the United States, a lender run by the US government, said the Vietnamese ... Read More »

Textile exports to China growing

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HANOI: Though Việt Nam remains a big importer of textile feedstock and accessories from China, its rising exports to China is a promising sign, according to the Việt Nam National Textile and Garment Group. Customs data shows imports from China in 2017 were high at US$9 billion, or 42.7 per cent of all textile-related imports, and 12 per cent higher ... Read More »

Foreign firms gain from lowest Vietnam taxes

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HANOI: FDI enterprises have achieved the highest profit growth among the economic sectors, generating 327.4 trillion dong (Bt457 billion) in pre-tax profits in 2016, an increase of 17.3 per cent on average in the 2010-16 period, according to the latest report by the General Statistics Office (GSO). This amount accounted for 45.9 per cent of the total profits earned by ... Read More »

Vietnam to work with Qatar for food security

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HANOI: Vietnam plays an important role in global food security as it has made progress in food security and increased production for international markets, therefore, Vietnam is ready to cooperate with Qatar especially in the field of food security. High-tech agriculture is also a development focus for Vietnam in maintaining food security in the future and it is an area ... Read More »

Tax departments collect $4.4b in Januar

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HANOI: Tax collection to the State budget was estimated at VNĐ99.5 trillion (US$4.4 billion) in January, according to a report by the General Department of Taxation. This was equivalent to 9.3 per cent of the estimated budget collection for the full year. Budget collection from crude oil reached VNĐ4.1 trillion, rising by nearly 50 per cent over the same period last year, as a result of the increase ... Read More »

Việt Nam to produce hot rolled steel this year

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HANOI: Việt Nam’s steel industry will be able to produce enough hot-rolled steel in 2018 to meet local demand. Before, the nation had to import millions of tonnes of hot-rolled steel products every year. The domestic steel market has grown in production and consumption over the past few years, especially the period 2016-17. Most steel enterprises have achieved high profits from ... Read More »

Vietnam corn buying spree continues as US PNW price tempts

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HANOI: US corn continues to see strong buying interest from Vietnam with fresh cargoes bookings heard from the competitively-priced Pacific Northwest this week, market sources said Friday. I would say there have been a couple of panamax parcels closed this week for April delivery,” one trading source said, with values for April and May heard at $198-$200/mt CFR Vietnam. That ... Read More »

Boom in grey trade drives Vietnam’s seafood imports

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HANOI: Vietnam, has a seedier side. In the 1990s, the city was the stomping ground of one of Vietnam’s most notorious gang bosses, Vu Thi Hoang Dung, also known as Dung Ha, or Dung the Lesbian. Today it is a hotbed of smuggling, also referred to as the “grey trade” or “grey channel”.  Based on an Undercurrent News analysis of international trade data ... Read More »

Vietnam’s taste for beef soars but cattle industry can’t find its feet

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HANOI: Vietnam’s cattle industry is failing to meet the country’s increasing demand for beef, forcing local consumers to turn to imported products. Last year, the country imported more than 262,300 live cattle, and nearly 42,000 tons of beef and buffalo meat, valued at more than $410 million, according to the Animal Husbandry Department under the Ministry of Agriculture and Rural ... Read More »

Việt Nam plans to export fruits to Qatar

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HANOI: Việt Nam can fully meet Qatar’s demand for tropical fruits, said Minister of Agriculture and Rural Development (MARD) Nguyễn Xuân Cường. During a meeting with Belgian Rent-A-Port N.V. held last week, Cường said Việt Nam had 1.8 million hectares of cultivation area for fruits and vegetables with an annual output of 20 million tonnes, adding that the figure would ... Read More »

Vietnam facing challenges ahead as GDP growth uncertain in 2018

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HANOI: Vietnam’s coming of age this decade with its rapid transformation to a manufacturing powerhouse.” The diversification of products and markets provides a tailwind to exports. We are very bullish on growth, though we remain cautious about structural issues of legacy bad debts,” the economist said. Experts believe that Vietnam will continue to gain a high GDP growth rate this ... Read More »

Vietnam forestry wood exports to top $9b

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HANOI: The country’s exports of forestry product are expected to top US$9 billion this year, with wood and wooden products accounting for $8.5-8.7 billion, according to the Handicraft and Wood Industry Association of HCM City (Hawa). Nguyễn Quốc Khanh, Hawa chairman, said exports of wooden and other forestry products rose by 10.2 per cent last year to a record $8 billion, ... Read More »

Vietnam’s HCM City gives Laos suggestions to improve two way trade

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HANOI: Vietnam’s Ho Chi Minh City has advised Laos to develop standards for food products exported to Vietnam in terms of food hygiene and safety, Vietnam News Agency reported Friday. The city’s retailers have also suggested Lao businesses to organize more trade promotion events and increase capacity to ensure a stable supply of products so the two sides can maintain ... Read More »