Derivative products

Rice is among key exports of Kien Giang province. (Photo: VNA) Kien Giang (VNA) – The Mekong Delta province of Kien Giang gained more than 103 million USD from exports in the first two month of the year, surging 12 percent from the same time in 2020. This is a robust sign in the locality’s trade activities amidst complicated developments of COVID-19. According to the provincial Department of Industry and Trade, growth was seen in the shipment of seafood (over 37 million USD, up 25.6 percent), and leather shoes (over 22.6 million USD, up nearly 3 percent). Meanwhile, export of rice fell 35.37 percent year-on-year to 17 million USD. With a view to boosting exports, the province has sharpened focus on trade promotion activities, as well as worked to consolidate traditional markets and expanding markets for local key products, particularly rice and seafood. In the meantime, the department keeps local exporters updated with the import-export situation and measures … [Read more...] about Kien Giang’s export turnover picks up 12 percent

On Hon Tre island, Kien Hai district, Kien Giang province (Photo: VNA) hập mô tả cho ảnh Kien Giang (VNA) - The Mekong Delta province of Kien Giang aims to have all of its 116 communes fulfil the criteria in the national target programme on building new-style rural areas in the 2021-25 period, with funding estimated at some 17.4 trillion VND (751.47 million USD). In 2021 alone, nine communes strive to win recognition, while the districts of Vinh Thuan and Kien Luong as well as Ha Tien city are to accomplish the task of building new-style rural areas. Local authorities also strive to fulfil targets on the rate of households with access to clean water of 99 percent and health insurance coverage of over 90 percent, and the reduction of the multidimensional poverty household rate of 1 percent while creating 35,000 jobs. The province will bolster the transfer and application of modern technologies in agricultural production and consider models for large-scale agricultural … [Read more...] about Kien Giang sets aside over 750 million USD for building new-style rural areas

Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into … [Read more...] about VIETNAM BUSINESS NEWS MARCH 8

A production line at the The Ky Yarn Joint Stock Company (Photo: VNA) HCM City (VNS/VNA) - The textile and apparel industry , which managed to survive three waves of COVID-19 thanks to its decision to produce face masks and personal protective equipment, will focus on sportswear and yarn, according to the Vietnam National Textile and Garment Group . Le Tien Truong, its general director, said demand for face masks and personal protective equipment will shrink rapidly. Armed with their experience of coping with the pandemic, many textile and footwear enterprises are quietly confident of altering plans when required and finding new markets to cope with new situation after COVID-19 is under control. Sportswear has arguably been the most successful segment during the pandemic as awareness of physical exercise rose. According to Euromonitor International, in 2020 the demand for sportswear world-wide decreased only about 8 percent, the lowest in an industry which saw … [Read more...] about Vietnamese textile industry sees huge export opportunities

As 2020 is coming to end, how do you evaluate the development of businesses that received recognition during the Vietnam Value Programme? Vu Ba Phu, director general of the Trade Promotion Agency under the Ministry of Industry and Trade After 17 years of running the programme with seven times choosing national brands, we have witnessed the continuous growth of many domestic enterprises. At the first selection in 2008, we saw only 30 chosen companies with their products. By 2018, this number had grown to 97, and this year we have recorded 124 enterprises and their brands. However, the growth of the business community has not only happened in the number of participating businesses, but also export turnover, sales, and their contribution to the state budget, as well as their efforts in social responsibility and job creation. For example, firms recognised as national brands in 2018 reached a revenue of about VND907 trillion ($39.4 billion), with their export turnover … [Read more...] about Initiative’s success helped by quick response to pandemic