Vietnam is likely to reach its export turnover target of US$11 billion from wood and forestry products this year as the main season for business is in the last six months of the year. Workers perfect wood products for export at the Woodsland Tuyen Quang JSC. — Photo hanoimoi.com.vn Businesses also have enough orders for production by year-end, said Nguyen Ton Quyen, Vice Chairman and Secretary-General of the Vietnam Timber and Forest Product Association.. Deputy Minister of Agriculture and Rural Development Ha Cong Tuan also said to meet this goal, the Government has committed to creating favourable conditions for businesses, including domestic and foreign-invested enterprises, to develop and have solutions for origin fraud in the timber industry. According to the association, Viet Nam is expected to export timber and wood products to the EU valued at over $700 million this year, higher than the $680 million achieved in 2018. Before 2018, the EU market mainly … [Read more...] about Vietnam to gain $11b from wood and forest product exports in 2019
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President Obama’s visit is a hallmark of Vietnam-US relations
PANO – The President of the United States of America (USA) Barack Obama started an official May 23rd-25th visit to Vietnam, at the invitation of Vietnamese State President Tran Dai Quang. Barack Obama is the third consecutive US President to visit Vietnam. In 2000, President Bill Clinton paid the first-ever visit to Vietnam after the Vietnam War. The next US President, George W. Bush, visited Vietnam in 2006. Ten years later, President B. Obama is the third US president to visit Vietnam. The visit is expected to be a hallmark of the comprehensive partnership between Vietnam and the USA. In fact, bilateral relations between Vietnam and the USA saw big developments in recent years. These developments included the historic visit of Vietnamese Party General Secretary Nguyen Phu Trong to the USA last year. Both the Vietnamese and US sides hope the visit of US President B. Obama will strengthen the Vietnam-US comprehensive partnership, accelerate the implementation of signed … [Read more...] about President Obama’s visit is a hallmark of Vietnam-US relations
State’s divestment plan set for failure
Illustrative image (Source: VNA) Hanoi (VNS/VNA) - As the stock market is experiencing strong volatility and shows little signs of strong recovery, the State may struggle to sell its stake in State-owned enterprises (SOEs) on schedule. Under the SOE equitisation plan approved in July 2017 by Prime Minister Nguyen Xuan Phuc for 2017-2020, the Government has to offload its stakes in 316 SOEs during 2017-2018, but it has only done so in 31 firms. Under the plan, the Government must start equitising 127 SOEs, including 85 SOEs for 2018. As of September 2018, only 11 SOEs’ equitisation plans were approved, raising the number of SOEs with approved equitisation plans to 26 since the beginning of 2017. The slow pace has raised concerns about delays or cancellations for the remaining deals as there are only two months left till the end of the year and the stock market has fallen in recent months, making investors hesitant about new deals, according to the Ministry of … [Read more...] about State’s divestment plan set for failure