Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. According to the General Department of Customs (GDC), by the end of June, Vietnam had imported 62,400 tons of chicken from the US, worth $48.6 million. As such, the import price is dirt cheap, just VND18,000 per kilogram. The retail price at traditional market is VND80,000 per kilogram. Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. In the US, chicken legs, wings and thighs are used to process bone powder for animal feed. However, these products are favored in Vietnam and are imported as food for humans. Nguyen Tat Thang, secretary general of the Vietnam Livestock Association, agreed with Duong, saying that in western countries, including the US, chicken breast is the most favored and the most expensive, while thighs, legs and wings are not. Thanh Lich Imported pork dirt cheap, domestic … [Read more...] about US chicken dirt-cheap in Vietnam
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Ganesan Ampalavanar, CEO of Nestlé Vietnam, addressing VEF 2019 On January 17, 2019, the Vietnam Economic Forum (VEF) 2019 took place in Hanoi and chaired by Prime Minister Nguyen Xuan Phuc and head of the Party Central Committee’s Economic Commission Nguyen Van Binh. At the general session and the high-level policy dialogue on “Private sector development and enhancing the linkages between domestic and FDI firms,” Ganesan Ampalavanar, CEO of Nestlé Vietnam agreed that Vietnam needs concerted efforts by numerous economic sectors, based on the principle of "Creating Shared Value." According to the state authority, the private sector has made great contributions to economic growth, which is forecasted to increase even further in the time coming. However, it is necessary to strengthen linkages and co-operation between the public and the private sector, as well as the domestic and foreign-invested enterprises. In the context of reviewing 30 years of FDI … [Read more...] about Nestlé Vietnam vows close co-operation with Vietnamese partners
An iPhone model developed by Apple (Photo: Getty Images) Hanoi (VNA) – According a Nikkei Asian Review report,Vietnam is among the most likely destinations for Apple to restructure its supply chain in. The California-based tech giant has decided the risks of depending heavily on manufacturing in China are too great, and it has asked major suppliers including Foxconn, Pagatron, Wistron, Quanta Computer and Compal Electronics to evaluate the cost of shifting 15-30 percent of production capacity from China to Southeast Asia. Economist Nguyen Dinh Anh told a Sputnik reporter that if Vietnam is selected, the domestic economy will be boosted while the country will have a chance to increase its prestige in the global economy. Improvements will be seen in several macro-economic indicators such as GDP, import-export revenue, jobs, and State budget collection, he said, adding that Apple will help give a more modern and industrial look to localities. Apple’s shift of its … [Read more...] about Vietnam, a potential destination for Apple
The CBU (complete built unit) imports to Vietnam in the first seven months of the year were five times higher in number than in the same period last year. Minister and Chair of the Government Office Mai Tien Dung has said that the government will soon amend Decree 116/2017 on conditions to manufacture, assemble, import and trade cars and maintenance services. It is expected that provisions related to car imports will be removed. Instead of examining cars by consignments as currently regulated, the government would amend the legal document, so that imports would be examined by vehicle type, while pre-customs clearance examinations would be replaced by post examination. Car importers believe that once the decree is amended, it will be easier for CBU imports to enter Vietnam. According to a representative of Thaco, ‘examination by type’ means that state agencies will take samples to test emissions and safety, and the results of the tests will be applied to the next … [Read more...] about Will car imports ‘crush’ domestically assembled cars?
Twenty years ago, five large automobile manufacturers asked Vietnam to open the automobile market. But the proposal was refused. The report from the Ministry of Industry and Trade (MOIT) to National Assembly Deputies showed that Vietnam’s automobile industry has been growing rapidly over the last two years. In 2017, Vietnam assembled 258,000 cars and the output of 250,000 products was maintained in 2018. About the achievements of the automobile industry, the report said many products have been exported to Laos, Cambodia, Myanmar and Central America. It has contributed billions of dollars to the state budget and generated 120,000 jobs. However, the ministry admitted too many problems in the industry, including the low locally made content ratio in products. The plan on raising the localization ratio for car models with less than 9 seats has failed. Under the plan, the ratio must be 40 percent by 2005 and 60 percent by 2010. However, the ratio is now 7-10 percent, far lower than … [Read more...] about Thai manufactured 3 million cars in 20 years, Vietnam assembled 250,000