Trade

(VEN) - Following over two decades of development, during which it focused on filling orders for foreign markets, Vietnam’s wood sector has come into its own and is now aiming to become a global furniture hub.  Vietnamese wood brands According to Huynh Van Hanh, Vice President of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Ho Chi Minh City is the cradle of the Vietnamese wood processing sector. He said that in the early 1990s, Vietnam exported wood products under brand names of Chinese Taipei and Singaporean companies. Since then, domestic wood companies have studied the market economy, as well as its requirements in terms of product quality and origin of materials. Vietnamese wood products are now exported to Japan, the US and the EU under Vietnamese brands. However, when they exported to the EU and the US, domestic wood companies faced foreign investigations on the origin of the timber used to make their products. Huynh Van Hanh said … [Read more...] about Vietnam wants to furnish the world

Steel maker Hoa Sen Group stated on March 16 that it has exported 15,000 tonnes of tole worth more than US$11.5 million to the UK, Germany and Italy. A worker at Hoa Sen hot-dip galvanised steel pipe plant during his working hours - Photo: NDO The announcement was made at an inauguration for its new Hoa Sen hot-dip galvanised steel pipe plant and to announce the successful deployment of its enterprise resource planning (ERP). Hoa Sen currently leads the domestic tole market, accounting for nearly 34% of the total galvanised tole and 18% of the steel pipe market share. In 2018, Vietnam's galvanised steel export volume reached 1.75 million tonnes, of which Hoa Sen's contributed the most at over 639,000 tonnes, accounting for nearly 37% of the total export. The group’s products are present in more than 75 countries and territories, especially in markets requiring high standards of quality, such as the US, Europe, and the Middle East. Earlier, in February, Hoa Sen signed a … [Read more...] about Hoa Sen Group exports 15,000 tonnes of tole to European countries

(VEN) - Due to insufficient domestic resources, the more products they export, the more raw materials domestic cashew companies need to import. This paradox has plagued the Vietnamese cashew sector for many years. Processing cashews for export Many plant closures Ministry of Agriculture and Rural Development data show that Vietnam exported US$3.52 billion worth of cashew nuts in 2018, down three percent in value but up 7.8 percent in volume compared with 2017. According to Pham Van Cong, President of the Vietnam Cashew Association (Vinacas), the Vietnamese cashew sector has faced numerous challenges due to insufficient domestic crop for processing. Cashew cultivation areas have been shrunk, while the linkage among deep processing facilities remains limited. The gap between cashew production and processing capabilities may lead to ineffective investment and increase unhealthy competition between businesses, which will result in the bankruptcy of weak companies. … [Read more...] about Cracking the paradox of the cashew sector

The Seafood Expo North America 2019, taking place from March 17 to 19, attracted the participation of more than 1,000 businesses from over 50 countries worldwide, including 15 of Vietnam’s largest seafood enterprises. Implementing the 2019 National Trade Promotion Programme, the Vietnamese delegation led by the Vietnam Association of Seafood Exporters and Producers (VASEP) includes a number of companies which have affirmed their international brands for many years such as Vinh Hoan, Minh Phu, Hung Vuong seafood companies and many other big brands such as Nghi Son, Trang Thuy, or Seaprimexco. According to To Thi Tuong Lan, Deputy Secretary General of the VASEP, Vietnam's seafood quality is currently being evaluated very well in international markets, especially the US market. Fishery products are one of the key exports of Vietnam with export turnover in 2018 at USD 9 billion. The expo features products include frozen, fresh, and processed seafood as well as modern processing … [Read more...] about 15 Vietnamese enterprises attend Seafood Expo in Boston

(VEN) - In 2018, tra fish exports reached a record high US$2.26 billion, up 26.4 percent compared with 2017. In 2019, the sector will intensify processing to increase product value and maintain export growth.  Tra fish companies need to increase investment in processing to create products of high added value Most exports to US According to the Ministry of Agriculture and Rural Development (MARD), Vietnam currently is the world’s largest tra fish exporter. Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), attributed the export growth to higher prices. According to Nam, Vietnamese shrimp, tuna and tra fish are available on shelves of modern distribution networks in various countries. Domestic companies have maintained effective coordination with importers and improved the quality of products to increase their added value. VASEP forecast the 2019 export value of tra fish will total US$2.2-2.3 … [Read more...] about Tra fish exports target US$2.3 billion

(VEN) - Ministry of Industry and Trade (MoIT) data show the total value of Vietnam’s foreign trade in January 2019 reached US$40.8 billion, a rise of 1.8 percent compared with December 2018 and up 0.89 percent compared with January 2018. Foreign trade remained on the rise in January 2019 Satisfactory results Specifically, total export value reached an estimated US$20 billion, up 1.9 percent compared with December 2018. The export value of wholly owned domestic firms accounted for US$6.42 billion, up 7.8 percent. That of the foreign invested sector, including crude oil, reached US$13.58 billion, down 5.1 percent. The export value of agricultural, forest and aquatic products reached an estimated US$2.26 billion, up 3.1 percent compared with December 2018 and accounting for 11.28 percent of total export value. The export of fruit, vegetables, cassava and cassava products, coffee and pepper grew significantly. The export value of processing industry-related … [Read more...] about Foreign trade off to a good start

(VEN) - HortExVietnam 2019, a specialized exhibition and conference for Horticultural and Floricultural Production and Processing Technology has just opened in Ho Chi Minh City. It is the second year that the exhibition is being held in Vietnam. Over the next three days (March 13-15), HortEx Vietnam 2019 becomes the largest specialized venue in Southeast Asia with a total area of 4,500 m2 used by nearly 200 businesses from 28 countries to showcase their products and services. The event is expected to welcome about 6,000 trade visitors. Businesses participating in this year's exhibition come from all over the world, including Australia, Belgium, Canada, China, Denmark , France, Germany, India, Israel, Italy, Japan, Malaysia, the Netherlands, Portugal, Singapore, Spain, Thailand, Turkey, USA, Vietnam, New Zealand, Laos, Myanmar... “In addition to the special interest from countries in Southeast Asia, this year's exhibition also attracts many other countries from around the … [Read more...] about HortEx Vietnam 2019 showcases modern garden potentials

(VEN) - Rice prices have dropped recently after a long period of price hikes, presenting rice farmers with a challenge. Vietnam Economic News’ Nguyen Hanh spoke with Le Van Banh, former director of the Cuu Long Delta Rice Research Institute. Le Van Banh, former director of the Cuu Long Delta Rice Research Institute Rice prices have plunged since late 2018. Could you share the reasons? The annual production output of rice in the Mekong Delta is estimated at 10-11 million tonnes. In the early part of the year, domestic rice firms had no orders from exporters and foreign customers, and therefore did not buy from farmers. This led farmers to accept lower prices. Prime Minister Nguyen Xuan Phuc recently asked the Ministry of Finance to provide guidance for domestic rice businesses to buy in advance 200,000 tonnes of rice and 80,000 tonnes of paddy. Do you think this will help increase rice prices in the Mekong Delta? I think this is just a Band-Aid solution that … [Read more...] about Rice farmers face stagnant sales, lower prices

The 14th edition of ProPak Vietnam, the country’s largest processing and packaging exhibition, will take place at the Saigon Exhibition and Convention Centre (SECC) during March 19-21. Visitors at ProPak Vietnam 2018 - Photo: doanhnhandoisong.vn BT Tee, General Manager of UBM VES – the exhibition’s organiser, said on February 26 that 540 exhibitors from 31 countries and territories worldwide have registered to join the event, the highest number ever since it was first held in 2003. Theo VNA … [Read more...] about Int’l processing, packaging exhibition to return to HCM City

The seventh Buon Ma Thuot Coffee Festival opened in the Central Highlands province of Dak lak on March 9, in the presence of Permanent Deputy Prime Minister Truong Hoa Binh, representatives from ministries, sectors and the local authorities, as well as residents and visitors. A colourful arts performance at the opening ceremony - Photo: baodaklak.vn At the opening ceremony, hundreds of artists and dancers brought a colourful arts program to the stage highlighting the unique features and indigenous culture of Dak Lak province and Buon Ma Thuot city. Addressing the event, Deputy PM Binh highlighted the strong advantages of Dak Lak and Buon Ma Thuot in particular, which is dubbed as “the coffee capital” of Vietnam. He called on the local authorities of Dak Lak and other coffee-growing provinces to review the current situation of their coffee growing in order to meet the current trend of the world’s market, ensure sustainable production, and increase the value … [Read more...] about Festival promoting Buon Ma Thuot coffee brand opens in Dak Lak