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Man detained for bringing US$0.4m into Vietnam

Dollars

HANOI: A man in the southern province of Binh Phuoc has been detained for trying to bring USD0.4 million into the country. On April 18, border guards at Tay Ninh Province’s Moc Bai Gate caught Tran Duc Long, 32 years old, bring the money across from Cambodia. Long said he had gone to Phnom Penh to visit a friend and ... Read More »

China imports half of Vietnam’s crude oil in Q1

Canadian crude exports to US reach new record

HANOI: China imported up to half of Vietnam’s exported crude oil in the first quarter of this year, according to the Vietnam General Customs Department. The department said that between January and March, Vietnam exported over 1.5 million tons of crude oil, earning USD637 million, down 16% in the volume but up 27% in the value. Vietnam exported over 1.5 ... Read More »

Shrimp exports experience a slight decline in first two-month period

Vietnam shrimp export

HANOI: Vietnamese shrimp exports experienced a slight decrease in the first two months of this year from the same period in 2016, by generating USD 378 million in income, reported Vietnam Association of Seafood Exporters & Producers (VASEP). According to VASEP, this decline (0.1 percent) took place in the context of the increase in technical barriers from importing markets and ... Read More »

Vietnam imported scrap steel spikes in Q1, threatening environment

Scrap+Steel

HANOI: Scrap steel imports to Vietnam in the first three months of this year increased sharply compared with last year, up more than 45 percent in volume and 120 percent in turnover, which poses serious environmental threat. According to the latest statistics of the General Department of Customs, Vietnam imported more than one million tons of scrap steel in Q1, ... Read More »

Vietnam denies poultry exports to Saudi Arabia

Chickens are seen at a poultry farm in Arbil, about 350 km (220 miles) north of Baghdad February 1, 2006. Officials in northern Iraq said on Tuesday they were treating 12 patients suspected of having bird flu as a World Health Organization (WHO) team prepared to travel to the area to give urgent assistance. REUTERS/Azad Lashkari - RTR15RL8

HANOI: Vietnam has not exported live poultry to any country yet so that a ban by Saudi Arabi has no effect on Vietnam,” an official of the Department of Animal Health in the Ministry of Agriculture and Rural Development of Vietnam said today. He spoke after Saudi Arabia’s Ministry of Environment, Water and Agriculture temporarily banned the import of live ... Read More »

Vietnam International Bank targets $33m pre-tax profit in 2017

VIB-Vietnam International Bank

HANOI: The Vietnam International Bank (VIB) aims to earn a pre-tax profit of VNĐ750 billion (US$33 million) in 2017, 7 percent higher than last year’s figure. According to the VIB’s business plan published on Wednesday, the bank targets VNĐ120 trillion in total assets, up 15 percent year-on-year. It also strives for a minimal decrease in credit balance with the Việt ... Read More »

Vietnam to impose tax on sales via facebook

facebook--(None)

HANOI: The HCMC Taxation Department has drawn up a plan to cooperate with agencies to collect tax from sales via social networks. Vietnamese taxation bodies have affirmed that they will collect tax from sellers via social networks. Trade carried out on Facebook has boomed over the last few years, but the State still has no way of collecting tax on ... Read More »

Vietnam GDP to reach 6.5% in year 2017

gdp rise

HANOI: Gross Domestic Product (GDP) growth is projected to increase modestly to 6.5 percent this year and 6.7 percent in 2018. This is according to the Asian Development Bank (ADB)’s Outlook 2017, released in HàNội on Monday. ADB country director for Việt Nam Eric Sidgwick said agricultural output was expected to pick up in 2017, given the outlook for higher ... Read More »

Vietnam Police seizes 118 pangolins smuggled in a car

A 249-kilogram shipment of pangolin scales

HANOI: Police in the northern province of Hoa Binh seized 118 pangolins smuggled in a car during a long chase that ended with the police shooting two of the car’s tyres. Officers were chasing after the car for dozens of kilometers after it had refused to stop for a check, the police said in a statement. The car subsequently crashed ... Read More »

Vietnam Customs seizes pangolin scales in Hanoi

Vietnam Customs seizes pangolin scales in Hanoi

HANOI: Vietnamese Customs officers detected two consignments containing pangolin scales at Noi Bai International Airport in Hanoi. The consignments were transported from Ghana to Noi Bai on February 27. Recently, many consignments of pangolin scales were uncovered at the airport, including one from Cameroon containing 357 kilogram of scales. The traditional use of pangolin scales to treat blocked milk ducts ... Read More »

Vietnam, Singapore sign five agreements aimed strengthening bilateral relations

Vietnam, Singapore sign five agreements aimed strengthening bilateral relations

HANOI: Singapore Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Xuan Phuc signed five cooperation agreements across the banking, power generation, and infrastructure sectors – a development welcomed by analysts amidst growing protectionism in global trade. During an official three-day visit to Vietnam in March, Lee led the Singaporean delegation in formalizing agreements aimed at strengthening bilateral relations ... Read More »

Vietnam’s imports of pesticide rise 7.5% in Q1, mostly from China

imports

HANOI:  Vietnam’s imports of pesticide reached some 180 million U.S. dollars in the first quarter of 2017, up 7.5 percent year-on-year, the Vietnamese Ministry of Agriculture and Rural Development said on Monday. During the period, China came top as the largest supplier of Vietnam, accounting for over 50 percent of the expenditure. In March alone, Vietnam spent nearly 58 million ... Read More »

Vietnam’s Jan-March crude oil exports fall 15.8% YOY

VN CRUDE OIL

HANOI: Vietnam’s January-March crude oil exports fell 15.8 percent from a year ago to an estimated 1.53 million tonnes, or 125,000 barrels per day (bpd), the government said on Wednesday. Crude oil export revenue in the three months, however, rose 29.7 percent from the same time last year to $650 million, the government’s General Statistics Office said in its monthly ... Read More »

Vietnam exports 1.28mt rice in three months

srilanka rice

HANOI: Vietnam exported an estimated 1.28 million tons of rice in the first three months of the year, earning US$570 million. But the exports were 18 percent lower in volume and 17.3 percent lower in value compared to the same period last year. This was reported last week by the Ministry of Agriculture and Rural Development. China remains Vietnam’s largest ... Read More »

Vietnam rejects VAT tax cut call from taxi firms

Vietnam taxi - VAT tax

HANOI: The Vietnamese authorities have rejected a call from local taxi firms to slash the amount of VAT they pay from 10 percent to five percent. The Ho Chi Minh City Taxi Association had requested the cut in an attempt to mitigate the impact that ride-sharing apps such as Uber and Malaysia-based Grab (which pay a reduced rate of VAT) ... Read More »

Vietnam, Netherlands eyes to boost bilateral ties

NETHERLANDS-VIETNAM

HANOI: Vietnamese Minister of Agriculture and Rural Development Nguyễn Xuân Cường met the Netherlands’ visiting deputy agriculture minister Marjolijn Sonnema to discuss co-operation opportunities between the two countries. Cường said it was a good decision for the two countries to have become strategic economic development partners in 2014. The focus of bilateral co-operation on selection of food and nutritional security ... Read More »

Vietnam drug smugglers sentenced to death

Heroin

HANOI: A court in Vietnam has sentenced nine among 23 drug smugglers to death on charges of “illegal drug dealing, illegal possession of military weapons and no denunciation of crimes”, a media report said. At the first instance trial that started off on February 27 and concluded on Tuesday in People’s Court of the country’s Hoa Binh province, the 23 ... Read More »

Ban affects Vietnamese dragon fruit exports

Vietnamese dragon fruit

HANOI: Soon after Vietnam announced a decision to suspend the import of five agricultural commodities from India, due to concerns over infectious insects, India decided to halt the import of six Vietnamese agro-products, namely dragon fruit, cassava and other products. According to Nguyen Mai Oanh, deputy chair of the Vietnam Pepper Association (VPA), India is Vietnam’s third largest market, after ... Read More »

Vietnamese Customs confiscates two guns at  Tan Son Nhat airport

Vietnam - custom

HANOI: Vietnamese Customs officers at Ho Chi Minh City’s Tan Son Nhat airport have seized two guns in the luggage of a passenger arriving Sunday from Hong Kong, local newspaper reported. The guns were hidden among personal belongings of a 42-year-old Vietnamese man, who was detained for further investigation, the newspaper said. Vietnam bans civilian ownership of guns since 2006 ... Read More »

Vietnam called on the Australian government to reconsider the ban

Vietnam shrimp export

HANOI: Vietnamese shrimp exporters are facing losses and could go bankrupt following Australia’s ban on imports of the crustacean, aimed at preventing white spot syndrome, a Vietnamese government official was quoted as saying. Australia, which imports 30 percent of its shrimp from Vietnam, put the six-month ban in place in January this year. “The order to suspend imports of uncooked ... Read More »