Tra fish fillet is the main product contributing in the VHC’s export value to gain a growth rate of 45 percent over previous years. The VHC announced the first quarter of 2018, it gained a year on year growth of 30 percent in export value to reach US$ 75.6million, equal to VND 1,701billion although export volume reported a slight decrease of 3 percent but export value gained a rise due to a hike in the selling price. DO DOAN –Translated by T.Tran Tags: tra fish fillet product export value … [Read more...] about VHC’s export value up 30 percent in 1st quarter
Economy
Vietnam targets 9 billion USD from wood exports in 2018
Vietnam aims to earn 8.5 billion USD from exports of wood and timber products in 2018 (Photo: Infonet) 2017 marked a successful year for Vietnam’s agro-forestry and seafood sector with growth rate of more than 2.9%, surpassing the government’s target of 2.8%. Vietnam’s timber export to key markets increased sharply reaching 8 billion USD. Among agro-forestry products, wood and timber ranked first in export turnover, making up 27% of the sector’s total revenue. Strong growth of wood exports was seen in key markets such as the US, accounting for 43% of total turnover, followed by China, Japan, and South Korea. In recent years, Vietnam’s wood exports to the EU reached 650 to 700 million USD, accounting for about 10% of the national export value. Once the Vietnam - EU Free Trade Agreement takes effect, it will create a breakthrough for exports to this market. In major wood markets in the world such as the US, the EU, and Japan, Vietnam’s … [Read more...] about Vietnam targets 9 billion USD from wood exports in 2018
Prospects for Vietnam’s agro-forestry-fishery exports
Yellowfin tuna is one of main export items to Japan. (Photo: Minh Long/VOV) According to the Ministry of Agriculture and Rural Development, Vietnam earned 419 million USD from rice export in the first 2 months of this year, 34% higher than last year. Other farm produce saw increases in both export volume and value, including coffee, tea, cashew nuts, vegetables, cassava, and cassava products. Rice is one of Vietnam’s key hard currency earners (Photo: dantri) But to increase exports, Vietnam needs to meet import standards set by CPTPP member countries and other demanding markets like the US, South Korea, and the EU. Vietnam’s farm produce has been exported to 180 countries and territories around the world. Vietnam is among the world’s 15 biggest agricultural exporters. In 2018, the Ministry of Agriculture and Rural Development hopes to earn 41 billion USD in export turnover, of which the farming sector will contribute more than 21 billion USD, … [Read more...] about Prospects for Vietnam’s agro-forestry-fishery exports
New prospects for Ho Chi Minh City in 2018
Ho Chi Minh City (Photo: vov.vn) HCMC witnessed positive signals in the first 2 months of this year. In January, its exports reached 3.4 billion USD, up nearly 32% from last year, contributing more than 1.6 billion USD to the State budget, up 10%. The industrial development index rose more than 15% and the garment sector signed a number of export deals, 70% of them with US partners. In the first month of 2018, the city established more than 2,800 new firms with a total registered capital of more than 860 million USD, up 23%. Tran Tuan Long, President of Thiết Thạch Construction Investment JS Company, said: “I hope that Vietnam and HCM City will achieve even more outstanding economic achievements than last year, a stellar year for the Vietnamese economy. I hope the business community will thrive and help Vietnam's economy thrive this year.” Returning to HCMC during the first days of this year, Le Ngoc Lam, a Vietnamese living in Japan, was surprised by how … [Read more...] about New prospects for Ho Chi Minh City in 2018
Prices of foodstuffs and petrol push up CPI in February
Tran My Lan, country director for Lutosa Vietnam – part of the Lutosa Group, Belgium’s largest exporter of high-quality potato products – will meet this week with representatives of major importers in Vietnam to discuss plans to sell Lutosa’s products to them. “In the first two months of 2018, our sales rose by at least 20% in Vietnam. It is expected that the rate will be higher in the coming months,” Lan told Nhan Dan online. “Demand for foreign potatoes in Vietnam is surging, particularly from enterprises, restaurants, and supermarkets, and especially during the Tet holiday. We are supplying the products for Vinmart, Aeon, Mega Market, and Fivimart.” Lan said that over the past five months, the dong/euro exchange rate has appreciated from VND24,000 to VND29,000. Thus importers have had to increase the prices of potatoes by 5-7%. Such a price hike is also reflected in the two-month consumer price index (CPI) of Vietnam. The General … [Read more...] about Prices of foodstuffs and petrol push up CPI in February
Vietnam’s export turnover up 50 percent during Tet holiday
Meanwhile, import values during the Tet (Lunar New Year) holiday, the biggest festival of the year for Vietnamese, was US$604 million, a year-on-year rise of 45.7 percent. According to the General Department of Customs, the export-import activities were handled at 108 customs departments, with nearly 5,100 declaration forms registered. The agency said that only a nine-seat automobile worth US$16,500 was imported from Australia during the week. Vietnam’s export turnover for January 2018 stood at US$19 billion, a decrease of 3.3 percent against December 2017 but up 33.1 percent compared with the same period of last year. China was Vietnam’s largest export market with a turnover of US$4.5 billion, a 2.5-fold rise from the corresponding time last year, followed by the United States, the European Union, the Association of Southeast Asian Nations (ASEAN), Japan, and the Republic of Korea. Meanwhile, Vietnam imported US$19.3 billion worth of goods in January, down 3 percent … [Read more...] about Vietnam’s export turnover up 50 percent during Tet holiday
World is turning
Talentnet conducted its “Fast Research About Leadership Movement in Vietnam” in August on more than 360 respondents in managerial levels and higher nationwide together with 100,000 data points from managerial candidates in Talentnet’s Executive Search Service (ESS). The research found five traits of future Vietnamese leaders: visionary perspective, preference for a professional workplace, career-centric, family caring, and personal values. These five traits are crucial for every organization’s talent attraction and retention strategies addressing hidden expectations of targeted employees. Insights of leaders In an emerging market like Vietnam, being “career-centric” is the top priority for Vietnamese leaders, as they consider career achievement to result in social approval and recognition. Furthermore, “personal values” also need to be highlighted, as leaders nowadays consider joining or leaving a company based on an alignment … [Read more...] about World is turning
Shipbuilding industry’s golden era over, oversupply predicted
Experts participating in a workshop on January 30 on improving Vietnam’s maritime industry, held at the APM 2018, Southeast Asia’s largest maritime and offshore event, in Hanoi all agreed that Vietnam’s maritime industry has not developed well in recent years, but there have been signs of prosperity.According to Le Quang Trung, deputy CEO of Vinalines, the nation’s leading shipping firm, the total volume of goods shipped by sea in 2017 reached 160,000 tons, an increase of 7 percent over 2016. The firm owns 90 ships and deep-water seaport and logistics systems serving maritime transport. “Vinalines is a medium corporation in the region,” he said. “In 2017, it undertook 20 percent of the nation’s total transportation output. Vietnam’s maritime industry in general and Vinalines’ business still have big development opportunities.”The company, which plans to have an IPO in 2018, is seeking strategic investors who … [Read more...] about Shipbuilding industry’s golden era over, oversupply predicted
Commerce Ministry to host Bangkok Gems and Jewelry Fair this month
Chantira Jimreivat Vivatrat, the Director General of the Department of International Trade Promotion said the fair will take place on February 21-25 during which more than 20,000 traders, investors, and business owners from Thailand and overseas will be attending. The expected cashflow will exceed 2 billion baht over the 5-day event. The director general forecasts that the country’s gem and jewelry industry will expand 1-3% this year despite the stronger baht. She expects the value of gem and jewelry exports to top US$7.126 billion in 2018, an increase of 2.25% year on year. Chantira said Thailand remains one of the world’s leading gem and jewelry producers thanks to the government’s support schemes, while advising the producers to take advantage of the appreciation of the Thai currency by importing raw materials and technology from other countries. … [Read more...] about Commerce Ministry to host Bangkok Gems and Jewelry Fair this month
Do not miss opportunity from TPP
It is neither the first free trade agreement (FTA) Vietnam has participated, nor the only new generation FTA that Vietnam has completed negotiations for so far. With the presence of two of the three largest economies (the US and Japan), a large market with 800 million people, accumulated GDP of 12 member states accounting for 40% of the world GDP, and trade flow of goods accounting for 30% of global trade, the TPP is expected to be the FTA with the biggest impact on production and business operations in Vietnam in the near future. All organisations and individuals doing business in the country will be under the direct or indirectly impact of the TPP’s commitments. Compared with enforcement mechanism of the World Trade Organisation (WTO), the TPP is diverse and tighter, providing its member states a better ability to supervise TPP enforcement of other countries, at the same time putting each member under pressure to properly implement the agreement. As planned, the time for the … [Read more...] about Do not miss opportunity from TPP