Economy

  The Department of Crop Production said that pepper prices have continued to plunge since the beginning of the year, with the average price being VND40,000 per kilo. However, since the start of June, pepper prices have increased to between VND45,000 and VND47,000 per kilo. Despite a fluctuation in prices, pepper output has increased significantly due to a surge in overall productivity. Although productivity has surged, the country’s pepper cultivation area has reached 145,447 hectares, a fall of 4,000 hectares in comparison to last year. The first five months of the year saw Vietnam's pepper exports at an estimated 144,000 tons, earning US$372 million in the process, representing a 33.2 per cent rise in volume, and fall of 2.4 per cent in value against the same period last year. The average export price during the first four months of the year saw a drop of 25.9 per cent to US$2,621 per ton compared to last year’s corresponding period. Over the course of the … [Read more...] about Pepper output sees significant rises amid low prices

The Hanoitimes - Positive results from Vietnam’s trade activities with members in the CPTPP indicated Vietnamese companies have better utilized preferential treatments from the deal, relieving pressure for Vietnam in dealing with a decline in exporting farm produce to China. Hanoi to hold trade fair to boost penetration in Japanese market Trade war starts taking its toll on Vietnam’s economy Vietnam’s domestic demand outweighs risks from trade tension Vietnam’s trade surplus expands to US$1.7 billion in 7 months Hanoi and Quang Ninh boost linkage for enhanced trade, economic ties With the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP) in place, Vietnam has now been able to secure positive trade balances with nations it previously had trade deficit with in the first seven months of 2019, according to the General Department of Vietnam Customs (GDVC).    Trade activities between Vietnam and 10 CPTPP members (unit: … [Read more...] about Vietnam secures positive trade balances with CPTPP

  Everest Education, Việt Nam's education startup, has raised US$4 million from foreign funds. — Photo courtesy of Everest Education HCM CITY — Vietnamese education start-up Everest Education has raised US$4 million in a Series B round led by Hong Kong-based private equity fund Hendale Capital, according to local media. The round was also participated in by venture capital fund Viet Capital and Singapore-based Nullabor. Everest said the company will use this capital to develop its training centres. The firm currently has seven training centres in HCM City. Phố Phạm, Managing Director of Viet Capital Fund was quoted by ndh.vn as saying that “Việt Nam has 17 million students from kindergarten to grade 12 and is a large market while Vietnamese people use 40 per cent of net income for education. However, there is no direct investment in high quality education." According to Henry Lee, Executive Director Hendale … [Read more...] about Everest Education receives $4 million from foreign funds

  Vietnamese businesses struggle to enter major global production chains despite making high-quality products. — VNA Photo HCM CITY — Many Vietnamese companies in supporting industries that can produce high-quality parts are nevertheless struggling to enter large international supply chains or are only able to supply low-value items to them. Đào Hữu Huyền, chairman of the board of the Đức Giang Chemicals Group Joint Stock Company, told Thanh Niên newspaper that many companies have good technologies and products but still find it difficult to be a part of international supply chains. Korean and Japanese companies mostly buy parts only from other Korean and Japanese businesses, and only buy raw materials from his company, he said. Trần Tuấn Anh, chairman of the board of 19-8 Mechanical Joint Stock Company, also complained about how difficult it is for his company to enter the supply chains of … [Read more...] about Global supply chains remain out of reach of VN businesses

  Executives of Indian and Vietnamese firms exchange information at the India-Việt Nam Business Forum in HCM City on Wednesday. — VNS Photo Xuân Hương HCM CITY — Trade and investment ties between Việt Nam and India are not commensurate with their potential, meaning there is still a lot of room for them to grow, the India-Việt Nam Business Forum heard in HCM City on Wednesday. A visiting 12-member delegation from the Confederation of Indian Industry (CII) led by Joseph Michael Kallivayalil, which is visiting Việt Nam to explore opportunities for economic engagement, investment and trade, took part in the forum. Võ Tân Thành, director of the Việt Nam Chamber of Commerce and Industry (VCCI)’s HCM City branch, said India and Việt Nam are both dynamic and rapidly developing economies in Asia. Trade between the two countries has surged to reach US$10.69 billion last year, and they target $15 … [Read more...] about Indian, Vietnamese firms discuss trade, investment