Footwear

Illustrative photo (Source: VNA) HCM City (VNA) – Vietnam’s key commodities, including apparel, leather, and footwear, are forecast to be hurt by the US-China trade war, which began on July 6 when the US imposed new tariffs on a majority of Chinese imports into the country, worth nearly 34 billion USD. Chairman of the Ho Chi Minh City Textile, Garment, Embroidery, and Knitting Association Pham Xuan Hong said the US-China trade war’s impacts on Vietnamese garment firms are now uncertain as most export orders for 2018 had already been signed before tensions escalated. However, if the tensions prolong, the Vietnamese economy is likely to be hurt as China and the US are the world’s largest economies, as well as key trade partners for Vietnam. For other exports, the war may bring both opportunities and challenges, he commented, explaining that Vietnam may be able to boost shipments to the US due to the limits on Chinese imports. Furthermore, the depreciated … [Read more...] about Impacts of US-China trade war on Vietnam’s garment, footwear industries

A footwear company in Vietnam (Photo: VNA) Tel Aviv (VNA) – Two-way trade between Vietnam and Israel hit around 899 million USD in the first 10 months of 2019, with Vietnam enjoying a trade surplus of 401 million USD. According to Vietnamese Trade Counsellor in Israel Le Thai Hoa, footwear shipments to Israel reported a year-on-year surge of 21.5 percent in the 10 months, while cashew exports rose 1.2 percent.  Vietnam’s aquatic exports to the market plunged 30.5 percent against the same period last year as Israel tightened safety regulations on imported food products. Exports of coffee and garment-textiles also recorded decreases of 15.5 percent and 4.2 percent in the period, respectively. Meanwhile, Vietnamese rice varieties and frozen shrimp have gained footholds in the Israeli market.  The country’s export revenue to Israel is projected to surpass 800 million USD in 2019, a slight rise against last year, while imports will stand at about 300 … [Read more...] about Vietnam enjoys trade surplus with Israel in first 10 months

Nguyen Minh Ngoc, a regular online customer of Lotte Mart, is always with her smartphone. On the bus home, she can order her groceries to save her going to the store. — VNS file photo Ordering a taxi, booking a train ticket or paying utility bills, are made super simple thanks to improving technology. Such high-tech has led to a rapid change of habits by many people who find ordering online helps them juggle their busy lifestyles. Thirty-year-old Nguyen Thuy Mai, returns home from work at 7.30pm, often the same time as her grocery order turns up. Pork, vegetables and all the ingredients she needs to cook dinner arrive at her doorstep in Hanoi‘s Cau Giay District and she hasn’t set foot inside a supermarket. For the relatively small charge of between VND25,000 (US$1.1)to VND50,000($2.2), she never needed to. Pham Thi Le, 65, on the other hand has a different way to shop, believing ordering online is lazy. “Why don’t they just spend less than 30 minutes … [Read more...] about Shopping fresh food service booms

The new FDI strategy with focus to 2030 will look at areas such as removing attraction barriers and setting incentives for high-tech groups, Photo: Le Toan Highlights of Vietnam’s draft new-generation FDI attraction strategy One of the highlights in the upcoming strategy is the change in the country’s FDI attraction orientations and investment ­incentives focusing on output quality and contributions to the domestic sectors. These include the value chain, added value, application, and transfer of high technology, as well as research and development and innovation, rather than the previous focus on location, sectors, and investment scale. In addition, Vietnam will also concentrate more on financial supporting policies, for example incentives on ­lending interest rates and trading rights, instead of focusing on tax and land incentives as it does currently. The top priorities for FDI attraction in the coming years will include IT and telecommunications, … [Read more...] about Guiding light for next-gen FDI strategy

  Staff at work at Japanese-backed Kyokuto Co. Photo baodongnai.com.vn  ĐỒNG NAI – The southern province of Đồng Nai completed its full-year target for foreign direct investment (FDI) attraction in the first half of the year, according to the provincial Statistics Office. During the reviewed period, the province lured US$1.02 billion in FDI, 8 per cent higher than in the same period last year, the office’s latest data showed. Of the sum, $514 million was poured into 48 newly licensed projects while the remaining $512.3 million was contributed to 512 operational projects to raise their capital. South Korea was the province’s leading foreign investor in the first half of the year with capital amounting to $100 million. Representatives of the provincial Department of Planning and Investment said most of the projects were high-tech, environmentally friendly and suitable for the province’s investment … [Read more...] about Đồng Nai meets 2019 FDI target in just six months