Economy

  January - April budget revenue was up nearly 14 per cent, running a surplus. — Photo vneconomy.vn HÀ NỘI – State budget revenue in the January-April period was estimated at VNĐ517.8 trillion (US$22 billion), equivalent to 36.7 per cent of the Government’s planned figure for the year and up 13.9 per cent over the same period last year, according to the latest report from the Ministry of Finance. Domestic revenue totalled VNĐ424.96 trillion, or 36.2 per cent of the year’s plan. Revenue from crude oil was estimated at VNĐ18.3 trillion, a drop of 2.2 per cent over the same period last year with oil prices averaging $65 per barrel, down more than five per cent. Revenue from imports and exports totalled VNĐ73.9 trillion, up 17.3 per cent. The Ministry of Finance said positive economic development from the end of 2018 helped businesses maintain their growth momentum, thus increasing tax collection. The … [Read more...] about State budget revenue in January to April period up 13.9 per cent

    A customer shop at Co.opmart supermarket in Hà Nội’s Nguyễn Trãi Street. — VNS Photo Trương Vị   HÀ NỘI – Việt Nam recorded a year-on-year rise of 2.71 per cent in consumer price index (CPI) in the first four months of this year, the General Statistics Office (GSO) announced on April 29, marking the lowest rate of increase seen in three years.   The CPI in April was 0.31 per cent higher than in the previous month and 1 per cent higher than in December 2018, representing growth of 2.93 per cent year on year. The CPI growth in April and the average growth in the first four months this year showed the stability of Việt Nam’s economy even as the world faced price fluctuations and petrol price increases, said head of the GSO’s Department of CPI Đỗ Thị Ngọc. In April, some goods and services showed low levels of price growth due to the State Bank of … [Read more...] about Four-month CPI growth lowest in three years: GSO

The growth rate of import-export turnover between the two countries increased with an average of more than 16 percent per year, whereas the growth rate of Vietnam’s goods export to the United States market grew sharply from US$ 14.24 billion in 2010 to US$ 47.53 billion in 2018, pushing trade balance in 2018 to reach a surplus of nearly US$34.8 billion, equaling to 73.2 percent of Vietnam's export value to the US market. According to the General Department of Vietnam Customs’ statistics, the total value of 10 largest Vietnamese commodity groups exported to the US market in 2018 reached US$ 40.58 billion, accounting for 85.4 percent of the total value of exports to the United States. Textiles and garments earned US$ 13.7 billion, footwear brought US$ 5.82 billion, cell-phones and components reached US$ 5.41 billion, wood and wood products gained US$ 3.9 billion.  There were nearly 7,200 Vietnamese enterprises exporting goods to this market in 2018, an increase of 7.6 … [Read more...] about Vietnam’s goods export to US increases sharply

Staples posting encouraging export turnover growth included machinery, equipment and parts, textiles and garments, telephones and components. The domestic sector experienced a positive turnover rise of 14 percent, accounting for 53.3 percent of the city’s total export value in two month period, the office said. The two-month performance was a good signal for the city’s economy in the context of the country witnessing an export turnover reduction of 1.3 percent in January compared to the same month last year, Director of the municipal Department of Industry and Trade Le Hong Thang told kinhtedothi.vn. However, Thang said it would not be easy for the capital to reach its target of raising export value by between 7.5 percent and 8 percent this year. The director attributed the situation to strong fluctuations in the global financial and monetary markets and a stretched trade war between the US and China. In order to achieve the export target and facilitate the … [Read more...] about Hanoi earns US$ 2.24 billion from exports in two months

At the working session, Vice Minister of the Agriculture and Rural Development Tran Thanh Nam and former Chinese Ambassador to Vietnam Hu Qianwen witnessed a signing ceremony of Memorandum of Understanding between the Vietnam Southern Food Corporation (Vinafood 2) and the Food Valley of China on exporting 70,000 tons of ordinary rice and 30,000 tons of glutinous rice to Chinese market. In addition to rice, export of Vietnamese fruits including durian, avocado and mango is highly appreciated by FVC. Representative of FVC said that Vietnamese enterprises would send information to FVC enterprises so that they could pay a visit to Vietnam to do research as well as instruct technical standards to facilitate export activities when China gives a green light to the product imports. Besides that, FVC will support the Vietnamese enterprises to improve science and technology in production as well as processing. BY THANH HAI- Translated by Huyen Huong Tags: Food Valley of China (FVC) … [Read more...] about Vietnam to export 100,000 tons of rice to China

Intermix’s leader Huynh Kim Chi said this is the first Intermix plant being built in the Mekong region with total investment capital of up to VND 800billion. The plant is expected to be completed in 2019 and put into operation in 2020. CONG PHIEN –Translated by T.Van Tags: ​The Mekong Delta province of Hau Giang People’s Committee has granted investment license to build the Intermix Mekong Plant for the Internix Joint Venture … [Read more...] about Hau Giang grants license to VND 800bln Intermix plant

Dai Phong has two hi-tech wheat flour production factories with total capacity of 2 tons of rice per day (equal to 123,000 tons of wheat flour per year). It has cooperated with Japan to set up Intermix Joint Venture. Representative from the association said through the working visit, the city’s enterprises worked with the company to become Dai Thanh’s distribution agents. T.HAI –Translated by K.L … [Read more...] about HCMC & Can Tho enterprises develop new distribution channel

As a list, the ministry selected 225 enterprises of 24 sectors which have contributed in the country’s economic growth; promoted local export enterprises to foreign investors and helped them seek consumption markets… The selected enterprises reached all the ministry’s criteria of export turnover, prestige with partners and duties to the tax and customs. The annual event is also aimed to support local enterprises in promoting exports and expanding markets as the country has participated in multilateral & bilateral trade agreements. T.TRINH –Translated by T.Tran Tags: Vietnamese prestigious exporters 2017 the ministry of industry and trade bilateral trade agreement … [Read more...] about MIT announces 225 Vietnamese prestigious exporters

The event is under the city’s 2018 trade promotion program. Over 300 booths of 185 leading domestic and international enterprises are displaying their products at the exhibition The event is organized by the HCMC Department of Industry and Trade’s HCMC center for Supporting Industries Development. The Vietnam ETE and ENERTEC EXPO 2018 aim to introduce energy saving products, green energy of many enterprises and create favorable condition for local consumers to select best IT- energy saving products.MINH HAI –Translated by T.Tran Tags: energy saving products green power saigon exhibition convention center HCMC … [Read more...] about 185 leading domestic & in’t enterprises join in VN ETE 2018

In order to complete its goal, Vocarimex said it would focus on boosting sales to industrial customers; developing and expanding export markets as well as consumption into the new markets. It also strives to become the leading Vietnamese enterprise in supplying vegetable oil products. In 2017, Vocarimex’s net revenue reached VND 4,4trillion with VND 300 billion of pre-tax profit. It completed 150 percent of its target and passed 50 percent.YEN LAM-Translated by T.Tran Tags: vegetable oil products export market … [Read more...] about Vocarimex plans to expand export markets