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Vietnam’s steel exports face tough trade barriers


HANOI: The Vietnam Steel Association (VSA) has asked domestic steel manufacturers to diversify export markets instead of focusing on certain markets, which causes sharp increases in exports to those markets. The request has been made as Vietnam’s steel industry is facing lawsuits and investigations for trade remedies by Australia, the US, Thailand and Malaysia, which will affect Vietnam’s steel exports ... Read More »

Vietnamese capital to tax big trading businesses on Facebook


HANOI: Vietnam’s capital Hanoi will collect arrears of existing big trading businesses on Facebook and encourage smaller ones to pay taxes, local media reported on Tuesday. “With big trading accounts (of Facebook, owned by people in Hanoi), we will collect arrears. For the rest, basically, we encourage people to register to pay tax,” daily newspaper Tien Phong (Pioneer) quoted Nguyen ... Read More »

First cargo train linking Vietnam, China sets off


HANOI: The first cargo train on the 854-km route connecting Việt Nam and southwest China departed from China’s Kunming City for Hải Phòng Port. The Jinlai Shunfa international logistics company, which is operating the route, said the train, carrying 32 containers of raw materials for the chemical industry, would reach Việt Nam within four to six days. Currently, the train ... Read More »

Vietnam-EU bilateral trade soars 16.2% in 2017 so far


HANOI: Two-way trade between Vietnam and the European Union (EU) grew 16.2 percent year-on-year in the first five months of 2017, according to the Ministry of Industry and Trade. Of the figure, Vietnam’s exports to the EU rose 4.2 percent, mostly apparel, footwear, agro-forestry-aquatic products and computers, while its imports from the EU up 14 percent, including machinery, equipment, pharmaceuticals ... Read More »

Vietnam’s rice export price hits 3-year high


HANOI: According to the Ministry of Industry and Trade, the demand for Vietnam 5 percent broken rice, has been rising, hitting 390 USD per tonne in the early days of June, against 360 USD per tonne to 380 USD per tonne in late May. This is the highest price since December 2014, the ministry said, attributing it to the rising ... Read More »

Vietnam’s exports to US reach $12.4b: Customs data

Morocco’s auto industry exports likely to rise to $10b by 2020

HANOI: Vietnam’s total shipment to the US in the first four months of the year rose 8.7 percent year-on-year to 12.4 billion USD, according to the General Department of Vietnam Customs. Vietnam’s key exports to the American nation included aquatic products, garments, footwear, wood and wooden products, computers, electronics, spare parts and farm produce. However, shipments of such products will ... Read More »

Hanoi customs collects VNĐ8.5t by May 31, reached 40% of its target


HANOI: The Hanoi Customs Department collected more than VNĐ8.5 trillion (US$374 million) by May 31, equivalent to over 40 percent of the target. The department said that to achieve the State budget revenue target of VNĐ20.65 trillion in 2017, it will continue focusing on solutions to create favourable conditions and remove difficulties for the export-import businesses in the area. Through ... Read More »

Vietnam premier warns of sanctions on officials failing to meet growth targets

Despite growth Bangladesh exports fail to scale the target

HANOI: The government says it’s determined to hit the economic growth target of 6.7 percent set for this year. Vietnamese Prime Minister Nguyen Xuan Phuc, fresh from his visit to the U.S. to boost trade and investment, has threatened to punish government officials who fail to achieve growth targets assigned to them. He told a cabinet meeting in Hanoi on ... Read More »

Vietnam, US look for signing of customs assistance agreement


HANOI: Vietnam and the US have signed a letter of intention on accelerating and completing negotiations for the signing of a customs mutual assistance agreement between the two countries. The letter of intention was inked during a recent meeting between visiting General Director of the General Department of Vietnam Customs Nguyen Van Can and Acting Commissioner at the US Customs ... Read More »

Vietnam to sign deals for up to $17b in US goods, services

free trade deal

HANOI: Vietnamese Prime Minister Nguyen Xuan Phuc said on Tuesday he would sign deals for U.S. goods and services worth $15 billion to $17 billion during his visit to Washington, D.C., mainly for high technology products and for services. “Vietnam will increase the import of high technologies and services from the United States, and on the occasion of this visit, ... Read More »

New terms for customs declaration to take effect in Vietnam


HANOI: The Ministry of Finance recently made changes to a circular that regulates the terms of customs declaration for passengers entering and exiting Vietnam. New terms have been added to Article 4 and Article 6 of the new circular which will come into effect on July 10. Point c of Clause 1 of Article 4 refers to changes in the ... Read More »

Vietnam customs seizes waste air conditioners

Vietnam customs seizes waste air conditioners

HANOI: Authorities in Vietnam have intercepted illegal consignments of hundreds of used air conditioners in three separate incidents this month. Police action taken under the Asian Network for Prevention of Illegal Transboundary Movement of Hazardous Wastes also resulted in a raid on a warehouse in Ho Chi Minh City, netting hundreds of used refrigerators and air conditioners amongst a hoard ... Read More »

Vietnam’s May coffee exports extend downtrend to finish at 6-month low

coffee export

HANOI: Coffee exports for the 2016/2017 season have already fallen nearly 7 percent, based on government data. Vietnam, the world’s largest exporter of robusta coffee, will ship an estimated 120,000 tons (2 million bags) of coffee this month, the lowest volume in six months and a drop of around a quarter from a year earlier, the government said on Monday. ... Read More »

Vietnam’s 2017/2018 coffee output to rise 10%

Brazil approves coffee import from Vietnam

HANOI: Vietnam, the world’s largest robusta producer, is forecast to harvest 28.6 million bags (1.72 million tons) of coffee from its next 2017/2018 crop, a rise of 10 percent from the current season, thanks to favorable weather conditions and higher domestic prices, a U.S. Department of Agriculture attaché said. Higher output from Vietnam, which stands only behind Brazil in terms ... Read More »

Vietnam earns $62b as export turnover in four months


HANOI: Vietnam’s export turnover reached US$62.09 billion in the first four months of this year, a year-on-year increase of 16.8 per cent, the General Department of Vietnam Customs reported. The country’s import turnover was $63.99 billion. The country enjoyed a trade surplus of $186 million in April, which contributed to reducing the trade deficit to $1.9 billion during the period, ... Read More »

Vietnamese customs to cut clearance time

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HANOI: The customs authority has striven to shorten the time for carrying out customs clearance of goods across borders to 70 hours for export goods and 90 hours for import goods by the end of this year. The General Department of Customs (GDC) on Wednesday said in its report that the authority would continue its renewal and modernisation process while ... Read More »

Vinamilk imports 2,000 cows from the US


HÀ NỘI: The Việt Nam Dairy Products Joint Stock Company (Vinamilk) has imported more than 2,000 Holstein Friesian cows from the US. The cows, believed to be the world’s high-yield diary animals that can produce 14,000 litres of milk in 305 days, were carefully selected and underwent strict quarantine and health checks before arriving in Việt Nam. They were sent ... Read More »

Thai company seeks opportunity in logistics industry in Can Tho


Can Tho: Vice Chairman of the People’s Committee of Can Tho city Truong Quang Hoai Nam on May 8 received Sigmund Stromme, Executive Vice President for shipping and logistics at Thoresen Thai Agencies Public Limited from Thailand, who is looking for business opportunities in the local seaport and logistics industry. Speaking at the meeting, Nam said logistics is a key ... Read More »

Vietnamese ship owners warned about returning to black list


HANOI: Admitting that the number of ships held in custody rose significantly in the first quarter of 2017, the Vietnam Maritime Bureau (Vinamarine) said it had warned ship owners against using substandard ships. Nguyen Hoang, deputy head of Vinamarine, when answering Lao Dong’s interview April 25, said when realizing that the number of ships held in custody is on the ... Read More »

Vietnam imports more Chinese medicinal materials in Q1

Vietnam imports

HANOI: Vietnam imported nearly 93.7 million U.S. dollars worth of materials and accessories used for pharmaceutical production in the first quarter of this year, with roughly 59 percent of the money spent on importing Chinese items. Vietnam spent over 55 million U.S. dollars importing medicinal materials and accessories from China in the three-month period, gaining a year-on-year rise of 9.5 ... Read More »