Role agriculture in economic development

Despite being considered as the driving force of Vietnam’s economic growth, agriculture has been held back by an incomplete logistics system which fails to ensure quality and connect farms with markets.  A container is loaded at Chu Lai Port in Quang Nam Province. Vietnam lacks a well-connected logistics network which can boost agricultural product trade and export. — VNA/VNS Photo Danh Lam Vietnam has recently opened its doors for agricultural products to be exported to the international markets, yet struggled to win over customers and couldn’t compete with products from other countries in terms of quality and price due to drawbacks of the existing logistics system. Most small- and medium-sized enterprises fail to afford the cost of logistics services. According to Viet Nam Association of Logistics Services Enterprises, the expenses for storing and transporting agricultural products account for up to 30 per cent of selling prices, higher than those of … [Read more...] about Poor logistics system hindering Vietnam agricultural products’ trade

Still the ‘engine’ of the country’s economic development, southern provinces have seen growth slowing down. After many years of waiting, Vam Cong, the second cable-stay bridge across the Hau River, after Can Tho bridge, has been put into operation. Analysts say that it would help the southwestern provinces improve their capability of connecting with HCMC and Cambodia. However, there are still many things that need to be done as the area now has only 11 percent of total highway length, though it makes up 55 percent of the country’s GDP. Hai Phong story Hai Phong City in the north is called a ‘rising star’. Many Vietnamese and foreign groups, including VinFast, Sun Group and BRG, have chosen the locality to set up their production facilities. In 2018, the city attracted $2.5 billion worth of FDI, or 2.7 times higher than the year before. The strong rise of Hai Phong has close relations with the development of a series of infrastructure projects. … [Read more...] about Infrastructure development to give southern region a push

Saudi Arabia will develop nuclear weapons if its arch-rival Iran does so, the kingdom's crown prince said in remarks released on Thursday, raising the prospect of a nuclear arms race in a region already riven with conflict. "Saudi Arabia does not want to acquire any nuclear bomb, but without a doubt if Iran developed a nuclear bomb, we will follow suit as soon as possible," Prince Mohammed bin Salman told CBS in an interview that will air in full on Sunday. The Sunni Muslim kingdom has been at loggerheads with revolutionary Shi'ite Iran for decades. The countries have fought a long-running proxy war in the Middle East and beyond, backing rival sides in armed conflicts and political crises including in Iraq, Syria, Lebanon and Yemen. He downplayed Iran's power during the interview, saying that Iran was far from being a rival to Saudi Arabia. Iran's Foreign Ministry spokesman Bahram Qasemi reacted harshly, saying the Saudi crown prince was a "delusional naive person" who has no idea of … [Read more...] about Saudi crown prince says will develop nuclear bomb if Iran does: CBS TV

Canadian Consul General in Ho Chi Minh City Kyle Nunas (L) and Vice Chairwoman of the municipal People’s Committee Vo Thi Hong Anh (Photo: VNA)   Can Tho (VNA) – Canadian Consul General in Ho Chi Minh City Kyle Nunas and authorities of the Mekong Delta city of Can Tho on December 9 committed to bolstering bilateral cooperation in various areas, especially agriculture, health care and environment. During a working session in the city, Vice Chairwoman of the municipal People’s Committee Vo Thi Hong Anh said it is developing high-tech, eco-friendly and sustainable agriculture, as well as high-quality health care, which are also Canada’s strengths. She added that the city calls on foreign investors to provide modern equipment for a local cardiovascular hospital project. According to her, Can Tho also plans to establish a disease control centre to improve forecast and prevention of diseases for local residents. Nunas, for his part, said Canada is … [Read more...] about Canada vows to help Can Tho in agriculture, health care, environment

The Ministry of Finance wants to reduce import tax on some foods and has asked ministries and organisations for opinions on the idea.— Photo http://thoibaotaichinhvietnam.vn The Ministry of Finance wants to reduce import tax on some foods and has asked ministries and organisations for opinions on the idea. The ministry proposed cutting import tax on some agricultural products such as chicken, pork, fresh apples, fresh grapes and raisins. Some chicken products and by-products would see their import tariffs cut from 20 per cent to 18 per cent, corresponding to the first-year cut in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The ministry said consumers will benefit from tax reductions due to decreasing product prices. The cut from 20 per cent to 18 per cent, based on import turnover in accordance with MFN (most-favoured nation) tax rates last year, would hit State budget collection by US$3 million per year, said the ministry. Compared with … [Read more...] about The Ministry of Finance proposes reducing import tax on some foods