Trade

China boosts imports of Vietnamese products By Hung Le Smartphones displayed at an exhibition in HCMC. Vietnam’s smartphone and parts shipments to China saw a 2.4-fold rise, generating US$5.78 billion in value - PHOTO: HUNG LE HCMC – Vietnam enjoyed a strong increase in January-September exports, particularly to China, which raised imports from Vietnam, such as smartphones, computers, electronics and components, according to the latest data from the General Department of Vietnam Customs. The data shows that the export value of smartphones and accessories amounted to US$5.09 billion in September, taking the figure in the nine-month period to a record high of US$36.69 billion, up 16.4% year-on-year. In the January-September period this year, smartphone and phone components exports to major markets rose strongly. The EU market spent US$10.14 billion on these imports from Vietnam, edging up 10.9% year-on-year. Vietnam’s smartphone and phone parts shipments to … [Read more...] about China boosts imports of Vietnamese products

Vietnam, Austria cooperate in various sectorsThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc poses for a group photo with some representatives of Austrian and Vietnamese businesses at the Vietnam-Austria Business Forum in the Austrian capital city of Vienna on October 15 – PHOTO: VGP HCMC – Prime Minister Nguyen Xuan Phuc and Austrian Chancellor Sebastian Kurz have pledged to work closely on projects using Austria’s preferential loans, while incentivizing their enterprises to boost investment and business cooperation in various sectors. The Vietnamese leader held talks with his Austrian counterpart in the Austrian capital city of Vienna on October 15, as part of his official visit to the European country, reported the Vietnam News Agency. Both leaders expressed their delight at the fine development of bilateral relations since the two countries established diplomatic ties in 1972. According to Chancellor Kurz, the Vietnamese leader’s official … [Read more...] about Vietnam, Austria cooperate in various sectors

(VEN) - Japanese fresh and processed seafood, fruits, baby food, supplementary products, fruits and vegetables are increasingly popular in Vietnam. Many Japanese food companies and restaurants are expanding their business in Vietnam Japanese supermarkets According to the Japanese Ministry of Finance, Japanese food, farm produce and seafood exports to Vietnam in the first five months of 2018 increased 24.8 percent over the same period last year. In 2017, Japan surpassed Thailand to rank sixth among food, farm produce and seafood exporters to Vietnam, with revenues of JPY39.5 billion (about US$350 million). The Japan External Trade Organization (JETRO) assessed that in recent years, the increased presence of Japanese consumer goods in Vietnam is the result of their high quality, known origin and competitive prices. Many Japanese supermarkets have been launched in Vietnam, including AEON, Ministop, Family Mart, Tokyo Deli, Gyu Kaku, and Oshaka Ohsho, among others. … [Read more...] about Japanese products becoming more popular in Vietnam

E5 biofuel consumption on the rise in HCMCThe Saigon Times Daily A staff of a gas station refills a motorcycle in HCMC - PHOTO: THANH HOA HCMC – Data from the HCMC Department of Industry and Trade show that the city has seen fuel consumption total 130,100 cubic meters per month since the beginning of this year, with E5 biofuel amounting to 30,022 cubic meters per month, rising 3.6 times compared to that in the first days of the deployment period of using E5 biofuel across the city, and representing 23.08% of the total, Sai Gon Giai Phong news site reported.  After multiple upward price adjustments, E5 biofuel is now priced at VND20,906 per liter, while fossil fuel RON 95 gasoline sells for VND22,347 per liter. Although the price difference between E5 and RON 95 is not too wide, these figures indicate that biofuel is gradually gaining popularity among customers. The Ministry of Industry and Trade earlier publicized statistics showing that domestic fuel consumption … [Read more...] about E5 biofuel consumption on the rise in HCMC

Vegetable, fruit exports surpass crude oil for first timeThe Saigon Times Daily The vegetable and fruit section of a supermarket in HCMC. The revenue from vegetable and fruit exports in January-April outstripped crude oil export earnings for the first time - PHOTO: THANH HOA HCMC - Revenue from vegetable and fruit exports has reached more than US$3.1 billion so far, up 17.1% year-on-year and outstripping crude oil export earnings for the first time, Lao Dong newspaper reported, quoting Thao Xuan Sung, chairman of the Vietnam Farmers’ Union. According to the Agro Processing and Market Development Authority of the Ministry of Agriculture and Rural Development, Vietnam exported US$380 million worth of fruit and vegetables last month. Speaking at the third National Farmers Forum in Hanoi on October 14, Deputy Prime Minister Vuong Dinh Hue said the revenue from fruit and vegetable exports was likely to hit US$4 billion this year. Crude oil exports to date remained below US$2 … [Read more...] about Vegetable, fruit exports surpass crude oil for first time