Billion usd in euro

Vietnam fisheries int’l exhibition opens in HCM City Visitors to the Vietnam Fisheries International Exhibition (Vietfish) 2018  The Vietnam Fisheries International Exhibition (Vietfish) 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22. The event attracts 233 exhibitors from 14 countries and territories, including 153 of Vietnam, showcasing aquatic products in 374 booths. The numbers of both exhibitors and booths increase by 6.8 percent and 3.6 percent, respectively, from last year. Vietfish 2018, lasting through August 24, also features many workshops discussing the market situation, production trends and other hot topics in the fisheries sector at present. Ngo Van Ich, Chairman of the Vietnam Association of Seafood Exporters and Producers, said over the last 20 years, Vietfish has established itself as a leading and influential fisheries exhibition in Asia as seen in the surge of exhibitors, booths and visitors. He noted … [Read more...] about BUSINESS NEWS IN BRIEF 23/8

Hong Kong calls for investment from Vietnam Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13.  Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch, held that Vietnam and Hong Kong are key major trade partners of each other with bilateral trade reaching 9.2 billion USD in 2017, up 22 percent from 2016.  As of June 2018, Hong Kong was the sixth largest foreign investor in Vietnam with a total capital of nearly 19 billion USD, he said. With the ASEAN-Hong Kong free trade agreement, trade and investment between Vietnam and Hong Kong are both expected to grow fiercely in the near future. Vietnam is encouraging firms to expand investment abroad to popularise Vietnamese products across the world. Thanh hailed Hong Kong as a free, developed economy with a strategic location, modern infrastructure, and large capital … [Read more...] about BUSINESS NEWS IN BRIEF 14/8

Illustrative image (Source: VNA) HCM City (VNA) – The price of material shrimps is forecast to recover in August and September after suffering drops over the past months, especially in the second quarter of 2018, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The VASEP explained that shrimp crops in major suppliers like India, Bangladesh and Thailand have finished, causing a decline in supply sources, while many Vietnamese firms have received big orders for year-end events. Experts advised that farmers should not hastily sell their immature shrimps, but grow big shrimps for better profit as the shrimp price. At the same time, shrimp growers should use new technology, while focusing on fostering cooperation towards value chains to improve product quality and reduce costs. Meanwhile, businesses should concentrate on developing products with higher added value and higher quality to penetrate high-end markets. Vietnam’s shrimp exports … [Read more...] about Shrimp prices expected to recover in Q3

A corner of the Dung Quat Oil Refinery (Photo: VNA) Quang Ngai (VNA) – The Binh Son Refining and Petrochemical One Member Co Ltd (BSR), a subsidiary of PetroVietnam, pocketed nearly 54 trillion VND (2.37 billion USD) in revenue in the first six months of the year, accounting for 69 percent of the yearly plan. At its shareholders’ meeting held in the central province of Quang Ngai on June 21, the company said that its net profit reached 2.7 trillion VND (118.8 million USD), equivalent to 77.6 percent of the target set for the whole year. The company’s total output stood at 3.53 million tonnes while its sale volume was estimated at 3.6 million tonnes, completing 57 percent of the yearly plan. Under the firm’s business development plan in 2018 and orientation for the 2018-2022 period, the BSR’s revenue is expected to hit a peak of nearly 6.4 trillion VND (281.6 million USD) in 2019 and the amount will taper off in the three following years due to … [Read more...] about BSR earns 54 trillion VND in revenue in six months