General Secretary of the Vietnam Fruit and Vegetable Association Dang Phuc Nguyen said at a recent forum that the target is achievable as Vietnamese fruit have won the taste of both domestic customers and those in 60 countries and territories. Dozens of Vietnamese fruits have met stringent standards to enter fastidious markets. Most recently, mango earned permission to enter the US market in February after ten years of negotiation, following dragon fruit, longan, rambutan, litchi and star apple. According to the Ministry of Agriculture and Rural Development’s Plant Protection Department, quarantine checks are conducted meticulously before shipping fruits to such choosy markets as the US, Japan and Russia. Besides, Vietnamese veggie and fruit exporters have ample opportunities to expand their markets after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect early this year and the EU-Vietnam Free Trade Agreement (EVFTA) is … [Read more...] about Vietnam targets US$ 5 billion in veggie, fruit export value by 2020
5 billion years of solitude
Netflix to film Garcia Marquez’s ‘100 Years of Solitude’
Gabriel Garcia Marquez greets fans and reporters outside his home on his birthday in Mexico City in 2014. Netflix has acquired the rights to Marquez’s "One Hundred Years of Solitude," one of the most celebrated novels of the 20th century. — Photo japantimes.com.jpViet Nam News NEW YORK — Netflix said yesterday it has acquired the film rights to One Hundred Years of Solitude by Nobel Prize-winning author Gabriel Garcia Marquez and will turn it into a Spanish language TV series. Rodrigo Garcia and Gonzalo Garcia Barcha, the sons of the late Colombian author, "will serve as executive producers on the series, which will be filmed mainly in Colombia," the on-demand streaming giant said in a statement. One Hundred Years of Solitude, considered a masterpiece that defined "magical realism" as a literary genre, was published in 1967. It centers around seven generations of the Buendia family in the fictional Colombian town of Macondo. "For decades our father was reluctant … [Read more...] about Netflix to film Garcia Marquez’s ‘100 Years of Solitude’
$4.5 billion to be poured into Vietnamese stock market: analysts
VietNamNet Bridge - MB Securities estimates that if Vietnam is upgraded into a secondary emerging market, it will be able to attract $4.5 billion worth of capital. Hoang Cong Tuan from MBS said at a workshop on the prospects of Vietnam’s stock market several days ago that Vietnam may be put on MSCI’s watchlist for upgrading to an emerging market by June 2020. He believes the possibility of joining MSCI Emerging Market is high. Under MB Securities’ positive scenario, the announcement about the upgrading could be released by June 2021. The proportion of Vietnam’s stocks in MSCI index basket would depend on the capitalization value and the market liquidity at the time of being upgraded. It is still too early to estimate the amount of capital. However, MBS estimates that, if the upgrading had been announced in December with the proportion of 0.3 percent, the foreign capital flow would have been worth $4.5 billion. The proportion of Vietnam’s … [Read more...] about $4.5 billion to be poured into Vietnamese stock market: analysts
Vietnam exports USD 3.5 billion worth of coffee in 2018
The average export price of coffee reached USD 1,883 per ton, down 15.7 percent versus 2017. Photo: vicofa.org.vn The Ministry of Industry and Trade forecasts Vietnam will face difficulties in exporting coffee in the first half of 2019 due to low global prices and declining domestic coffee output. According to the Vietnam Coffee – Cocoa Association, Vietnam’s coffee output in the 2018 crop declined by about a fifth due to the impact of climate change and conversion to growing more high-yield crops. Source: VNA … [Read more...] about Vietnam exports USD 3.5 billion worth of coffee in 2018
Việt Nam exports US$3.5 billion worth of coffee in 2018
A farmer havests coffee in the Central Highlands province of Đăk Lăk. — VNA/VNS Photo Phạm CườngViet Nam News HÀ NỘI — Việt Nam exported more than 1.8 million tonnes of coffee worth US$3.54 billion in 2018, marking year-on-year rises of 20 per cent and 1.2 per cent respectively. The average export price of coffee reached $1,883 per tonne, down 15.7 per cent versus 2017. The Ministry of Industry and Trade forecasts Việt Nam will face difficulties exporting coffee in the first half of 2019 due to low global prices and declining domestic coffee output. According to the Việt Nam Coffee – Cocoa Association, Việt Nam’s coffee output in 2018 declined by about a fifth due to the impacts of climate change and conversions to more high-yield crops. Last year, Vietnam shipped 74,120 tonnes of coffee beans to Algeria alone, earning $132.48 million, up 56 per cent in volume and 28 per cent in value from … [Read more...] about Việt Nam exports US$3.5 billion worth of coffee in 2018
8.5 billion VND in Lawrence Ting scholarships presented to students
At the scholarship award presentation ceremony in Ho Chi Minh City on September 22 (Source: http://voh.com.vn) HCM City (VNA) – The Lawrence S. Ting Memorial Fund and Phu My Hung Development Corporation on September 22 presented nearly 8.5 billion VND (365,500 USD) worth of scholarships to 371 students in Ho Chi Minh City and a number of charity and study encouragement organisations. … [Read more...] about 8.5 billion VND in Lawrence Ting scholarships presented to students
Nearly $4.5 billion worth of G-bonds raised so far this year
A total of VND104.2 trillion (US$4.46 billion) has been raised this year as of August 22 by the State Treasury of Viet Nam via auctions of Government bonds at the Ha Noi Stock Exchange. At an auction last week, the State Treasury mobilised VND4.1 trillion worth of 10-year and 15-year Government bonds. Bonds with 10-year maturity raised VND1.5 trillion with annual interest rate of 4.6 per cent, up 0.03 per cent from the previous auction on August 15. A sub-session auction of 10-year bonds drew VND600 billion with yearly interest rate of 4.6 per cent. Those with a 15-year term attracted VND1.4 trillion with an annual interest rate of 4.87 per cent, up 0.03 per cent in comparison with the rate of the previous auction. As much as VND600 billion was mobilised from 15-year bonds at the sub-session auction with an interest rate of 4.87 per cent per year. No bonds of five-year, seven-year and 30-year terms were sold at this auction. Last year, Vietnam sold some VND159.9 trillion worth of … [Read more...] about Nearly $4.5 billion worth of G-bonds raised so far this year
Vietnam posts nearly US$5 billion worth of wood exports in seven months
The export revenue of wood and wooden products was estimated at US$4.8 billion in the first seven months of this year, an increase of 11.6% compared to the same period in 2017, the Ministry of Agriculture and Rural Development has announced. Vinanet forecast that Vietnam's exports of wood and wooden products will increase by 13-15 pct in the second half of 2018 - illustrative image According to the Vietnam Industry and Trade Information Center (Vinanet), FDI firms reported over US$1.78 billion worth of export revenue from wood and wooden products in the first six months of this year, up 4.8% over the same period last year and equivalent to 43.2 pct of the total export revenue of wood and wooden products. The US, China, Japan and the Republic of Korea (RoK) were the largest wood importers of Vietnam in the first half of this year, accounting for 78.5 pct of the total export value of wood and wooden products. During the six-month period, Vietnam earned US$1.6 billion from the … [Read more...] about Vietnam posts nearly US$5 billion worth of wood exports in seven months
$5 billion ‘wrongly spent’ each year: where has the money gone?
VietNamNet Bridge - The Government Inspectors’ conclusion that $5 billion worth of state’s money is “wrongly spent”’ a year has stirred up the public, reported Dat Viet. Vietnam needs huge capital for infrastructure development “$5 billion means 2-3 percent of Vietnam’s annual GDP ($200 billion). This is an unacceptably high level,” said Nguyen Van Ngai from the HCM City Agriculture & Forestry University. He noted that this is the official figure released by the Government’s Inspector and he is not sure if there are unreported figures. “I am afraid that if taking unreported figures into consideration, the real figure would be even higher,” he said. Dinh The Hien, an economist, said it is necessary to clarify what “wrongly spent” means. “Does ‘wrongly spent’ include expense items which don’t come in line with the laws, ineffective expense items and expenses in embezzlement … [Read more...] about $5 billion ‘wrongly spent’ each year: where has the money gone?
Domestic fashion brands seek foothold in $3.5 billion market
VietNamNet Bridge - Domestic brands are expected to have opportunities to prosper in the local market amid the massive arrivals of foreign brands. The Vietnamese fashion market is worth $3.5 billion Pessimistic forecasts have been given about the fate of Vietnamese fashion brands which have to compete with powerful brands like Uniqlo, Zara and H&M. Vietnamese customers spend more money on foreign branded goods. The value of the Vietnamese fashion market (clothing & footwear) is estimated at $3.8 billion in 2018, of which expenditures on clothing are $3.5 billion. Vietnam, which mostly does outsourcing for foreign partners, has never been considered a power in the fashion industry. However, analysts believe that Vietnamese brands will not surrender to foreign brands in the home market because they have certain advantages. RELATED NEWS How are Vietnamese fashion brands faring? How attractive is Vietnam’s fashion market for foreign retailers? Mai Nam … [Read more...] about Domestic fashion brands seek foothold in $3.5 billion market