Economy

The Hanoitimes - Most of Vietnam’s woodwork was made from wood logged by local plantations, while restricting material imports and prohibiting illegal timber help limit deforestation. Big opportunities for Vietnam’s wood industry Wood industry plans US$14 billion turnover in 2020 VPA/FLEGT agreement se to boost Vietnam timber’s trade value to EU Vietnam becomes Asia’s timber processing center Vietnam longs for joining top 15 most advanced countries in agriculture Vietnam’s Prime Minister Nguyen Xuan Phuc considers the wood export target of US$11 billion in 2019 underachieves, and targets a 30 – 50% of global market share for wood exports by 2030, the governmental portal reported.    Overview of the meeting. Source: VGP. Over the past ten years, Vietnam’s wood export turnover has increased 9-fold, reaching US$9.4 billion in 2018 and becoming the world’s fifth largest and Asia’s second largest wood … [Read more...] about Vietnam targets 30 – 50% of global market share for wood exports

The Hanoitimes - The figure is US$2.9 billion higher year-on-year and nearly double the average number of US$23 billion per month recorded in the 2012 – 2018 period. Vietnam’s trade turnover reaches over US$1 billion in 9 days of Lunar New Year Trade ministry warns against foreign goods forging Vietnam’s origin Vietnam trade per capita nearly triples in 2018 Vietnam’s trade turnover reached US$43 billion in January, the best January performance over the last few years, according to the General Department of Vietnam Customs (GDVC).    Illustrative photo. That turnover is US$2.9 billion higher year-on-year and nearly double the average number of US$23 billion per month recorded in the 2012 – 2018 period.  Notably, the trade value of domestic enterprises grew at a faster pace compared to the FDI sector, standing at an increase of US$1.92 billion against the US$973 million of the latter in January. It is worth mentioning that … [Read more...] about Vietnam’s trade turnover reaches record high of US$43 billion in January

At the working session, Vice Minister of the Agriculture and Rural Development Tran Thanh Nam and former Chinese Ambassador to Vietnam Hu Qianwen witnessed a signing ceremony of Memorandum of Understanding between the Vietnam Southern Food Corporation (Vinafood 2) and the Food Valley of China on exporting 70,000 tons of ordinary rice and 30,000 tons of glutinous rice to Chinese market. In addition to rice, export of Vietnamese fruits including durian, avocado and mango is highly appreciated by FVC. Representative of FVC said that Vietnamese enterprises would send information to FVC enterprises so that they could pay a visit to Vietnam to do research as well as instruct technical standards to facilitate export activities when China gives a green light to the product imports. Besides that, FVC will support the Vietnamese enterprises to improve science and technology in production as well as processing. BY THANH HAI- Translated by Huyen Huong Tags: Food Valley of China (FVC) … [Read more...] about Vietnam to export 100,000 tons of rice to China

The Hanoitimes - Vietnam is under the process of drafting new policies towards a sustainable development of the automotive industry, while ensuring basic principles of consistency, transparency, predictability and fairness. New policies facilitate Vietnam’s automobile market Foreign automobile part makers rush to Vietnam Made-in-Vietnam bikes, phones, cars set imprints with foreign support Vietnam spends over US$1.6 billion importing cars Vietnam expects for VinFast’s contributions to its automobile industry Deputy Prime Minister Trinh Dinh Dung expected South Korea’s Hyundai to consider Vietnam a strategic production base and increase the localization rate to at least 40%, the governmental portal reported.    Deputy Prime Minister Trinh Dinh Dung meets Hyundai’s Vice President Jin Haeng Chung on February 22. Source: VGP. Taking advantage of Vietnam’s strengths on global integration, competitive input price and large domestic … [Read more...] about Hyundai expected to increase localization rate in Vietnam to 40%

Nguyễn Duy Hưng, CEO of SSI Securities Corporation. — Photo Vietnam Finance HÀ NỘI — Transparency and quality of information disclosure are the main concerns for market members, public companies and auditors to lure a larger amount of capital in 2019, business executives have said. Nguyễn Duy Hưng, CEO of SSI Securities Corporation, said that the securities market should be the most important fund-raising passage for local companies. However, still weighing on the confidence of both domestic and foreign investors in local firms were the transparency and quality of information disclosure, which had not been ensured, Hưng told a meeting held by the State Securities Commission on Friday. “We need to build the securities market and turn it into a channel, helping local firms attract capital investment. But key issues are market transparency and confidence.” According to Hưng, the total amount of equity capital among … [Read more...] about Transparency needed for securities market in 2019