Trade

(VEN) - The Ministry of Industry and Trade (MoIT) recently promulgated Decision 940/QD-BCT, launching an anti-dumping investigation into industrial medium density fiberboard (MDF) imported from Thailand and Malaysia. This is an unprecedented decision since the wood sector became a key exporter of the Vietnamese economy. Vietnam has launched the first anti-dumping investigation into imported MDF products The decision was made based on requests submitted by four domestic MDF producers: VRG Kien Giang MDF Joint Stock Company, VRG Dongwha MDF Joint Stock Company; VRG Quang Tri MDF Joint Stock Company and Kim Tin MDF Joint Stock Company. These firms claimed that industrial wood board products imported from Thailand and Malaysia had been dumped in the Vietnamese market at a margin of 18.59 percent to 50.6 percent. This dumping was the main cause of damage to Vietnam’s MDF production sector, they alleged. The MoIT will send questionnaires to related parties to … [Read more...] about Vietnam launches first anti dumping wood sector probe

    Shirmp is one of Việt Nam's key export commodities. The nation gained a trade surplus of $1.59 billion in the first half of this year. Photo thoibaotaichinhvietnam.vn HÀ NỘI – Việt Nam gained a trade surplus of $1.59 billion in the first half of this year, according to the latest statistics from the General Department of Customs. During the six months of the year, Việt Nam’s total export value reached $122.53 billion, a year on year increase of 7.2 per cent. The growth in export value in the first six months was mainly due to development of exports in the processing and manufacturing sector that had an export value of $102.2 billion, up 9.1 per cent over the same period of 2018. The good performance in the second half of June was behind the trade surplus, according to the general department. The export value in the period from June 16-30 reached $11.23 billion, up 10.4 per cent compared to the first 15 days of June. The goods with … [Read more...] about VN has trade surplus of about $1.6 billion in H1

(VEN) - Under a memorandum of understanding (MoU) signed in 2018 between the Ministry of Industry and Trade (MoIT) and the AEON Group, the Japanese retail giant pledged to support the export of Vietnamese goods via its distribution system, targeting US$500 million by 2020 and US$1 billion by 2025. Shibata Eiji, Vice President of the AEON Group, described the MoU at the AEON suppliers’ conference 2019 that took place for the first time in Hanoi recently. According to Shibata Eiji, Japan began importing Vietnamese Tra fish in 2013 with a modest volume of five tonnes. In 2018, the import volume increased twenty-fold to 100 tonnes. The export of other kinds of Vietnamese goods to Japan, such as suitcases, fashion products and food, has also grown strongly. In 2018, US$250 million worth of Vietnamese goods were exported to Japan via AEON’s distribution system. Unlike many other businesses focusing on one specific area, the AEON Group is determined to maintain its operations in … [Read more...] about AEON targets US$1 billion in Vietnamese goods sales

(VEN) - Vietnam achieved satisfactory export results in the first four months of 2019, maintaining export growth to major markets, albeit at a slower pace than in 2018. Overall, domestic firms performed better than foreign-invested ones. Textiles and garments remain key Vietnamese exports US$711 million trade surplus Ministry of Industry and Trade (MoIT) data show that in April 2019, the export value reached an estimated US$19.9 billion, down 12.6 percent compared with March. The decrease was attributed to various holidays. In the first four months, the export value grew 5.8 percent compared with the same period last year, exceeding US$78.7 billion. Processing industry-related products continued contributing significantly to the export growth. In the first four months of 2019, the export value of these products grew 7.6 percent compared with the same period last year and accounted for 83.6 percent of Vietnam’s total export value. The list of goods with four-month … [Read more...] about Domestic businesses brighten export picture

(VEN) - The Ministry of Industry and Trade (MoIT) is pleased with the results of its efforts over the past three years to boost domestically made products in foreign distribution networks.  Vietnamese goods in a Singaporean supermarket Le Viet Nga, Deputy Director of the MoIT’s Domestic Market Department, said that since 2017, the Central Group (Thailand) has exported an average US$46 million worth of Vietnamese goods annually through the Big C supermarket chain, and the export value keeps growing. Similarly, MM Mega Market has opened four farm produce purchase centers in Vietnam, which have purchased large volumes of dragon fruit and sweet potatoes for export to Thailand. Japan’s AEON supermarket chain also exports US$250 million worth of Vietnamese goods annually under a private brand developed by AEON, TOPVALU. AEON pledged to increase the export value of TOPVALU Vietnamese goods to US$500 million by 2020 and US$1 billion by 2025. These results … [Read more...] about Vietnamese products in foreign chains face challenge

(VEN) - Given China’s huge demand for rice, Vietnamese businesses need to meet the quality requirements to promote exports to this market. In 2018, China imported rice worth US$1.6 billion, including Vietnamese rice worth US$740 million. In the first four months of 2019, Vietnam exported 2.03 million tonnes of rice worth US$866 million. Many Vietnamese businesses have received large orders from China, especially those in the southwestern provinces of Long An, Dong Thap and An Giang. Nguyen Thanh Muoi, chairman and general director of the Tan Dong Tien Joint Stock Company, said the company exported 150,000 tonnes of rice to China in 2018 and 100,000 tonnes in the first quarter of 2019. This figure is expected to reach 300,000 tonnes for the year. “The company has invested heavily in rice cultivation and advanced production machinery and equipment to meet the Chinese market’s demand,” Muoi said. Phan Loi, deputy director of the An Giang Department of Industry and … [Read more...] about Vietnam boosts rice quality to increase China market share

(VEN) - Under the auspices of the Italy’s Ministry of Economic Development, the Italian Trade Agency (ITA), and the National Association of Italian Manufacturers of Footwear, Leather Goods and Tanning Technologies (ASSOMAC) organized the Italian Pavilion Layout at the  “Shoes & Leather Vietnam 2019” Exhibition in Ho Chi Minh city, from July 10 to 12. At the exhibition, 20 Italian enterprises officially join the Italian Pavilion Layout and 12 others attend the event as independent enterprises or through local partners – which are experienced designers and companies in manufacturing and supplying machinery, equipment and technologies for the production of footwear, leather goods and tanning such as measuring machines, pressing machines, cutting machines, pulling over lasting machines, finishing machines, integrated lines and chemicals for leather and footwear production – have displayed and introduced breakthrough and creative products using the … [Read more...] about Italian shoes & leather businesses promoted in Vietnam

(VEN) - Since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect earlier this year, the fishery sector has yielded initial positive results. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood exports to CPTPP member countries such as Japan, Canada, Australia, and Singapore have recorded positive changes. Vietnam’s shrimp exports to the EU, the US, China and the Republic of Korea all recorded double-digit drops in the first four months of this year, while the Japanese market only saw a drop of 7.3 percent compared to the same period last year. Japan was Vietnam’s second largest shrimp importer during the January-April period, accounting for 19.2 percent of Vietnam’s total shrimp export turnover. Vietnam’s Tra fish exports to Japan also grew 38.6 percent in the first four months of this year, reaching US$8.58 million. In the first four months of 2019, Vietnam’s … [Read more...] about Things go swimmingly for seafood exports to CPTPP

(VEN) - At a recent Hanoi conference to review the 10-year implementation of the Buy Vietnamese Goods campaign, participants urged authorities to lift the campaign to a higher level. Vietnamese products on shelves in a supermarket Speaking at the conference organized by the Vietnam Chamber of Commerce and Industry (VCCI), Vice Chairman Hoang Quang Phong said the campaign has great meaning for Vietnamese businesses, helping local producers supply the market with high quality products at reasonable prices, which suit domestic demand and tastes. Pointing to clear proof of the campaign’s success, Phong said many local businesses had recently been trying to restructure production, improve management capacity and reduce costs. A large number of made-in-Vietnam goods have conquered consumers’ increasingly high demand and about 90 percent of Vietnamese products have been available in big supermarkets via distribution and retail networks. Doan Trong Ly, chairman … [Read more...] about Buy Vietnamese Goods campaign targets higher level

(VEN) - The implementation of tariff reduction to zero percent under the ASEAN Trade in Goods Agreement (ATIGA) from January 1, 2020 will put great pressure on the Vietnamese sugar industry. However, experts say that since the policy of international economic integration is appropriate and inevitable, the sugar industry needs to stand on its own feet. As the ATIGA takes effect, the Vietnamese sugar industry will face fierce competition due to a flood of imported goods entering the domestic market. Dang Viet Anh, chairman of the Son La Sugar Joint Stock Company, said Vietnam’s sugar prices are higher than those of Thailand because the Thai government has subsidized at least US$1.5 billion a year for its sugar industry, equivalent to VND3,000 per kg of sugar produced in the entire country. Vo Tri Thanh, former deputy director of the Central Institute for Economic Management (CIEM), said that given international economic integration, the biggest question is how to resolve the … [Read more...] about ATIGA could create fierce competition for sugar industry