New trends in Vietnam’s rice exports 2018 is witnessing new trends in Vietnam’s rice export sector, notably the priority of exporting high-quality rice through international bidding as well as stricter and more diverse trade barriers from importing countries. Preliminary data by the General Department of Customs shows that Vietnam exported 264,500 tonnes of rice in October, generating a revenue of US$135.56 million, up 22.96% in volume and 31.8% in value, compared with the same month last year. The total volume of rice exports in the first ten months of 2018 was 5.15 million tonnes, worth US$2.6 billion, representing year-on-year increases of 6.62% and 21.49% in volume and revenue respectively. What is notable during the period is that the price of Vietnamese rice has now surpassed that of Thailand, averaging at more than US$500 a tonne, up about 15%. In 2016, Vietnam exported 4.8 million tonnes of rice, bringing in US$2.1 billion. The respective volume and revenue figures … [Read more...] about BUSINESS NEWS IN BRIEF 20/11
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BUSINESS NEWS IN BRIEF 20/10
TH Group imports 1,800 more dairy cows from US Vietnamese dairy firm TH True Milk (TH Group) on October 14 received nearly 1,800 dairy cows of 3 or 5-month pregnancy which were inseminated through embryo transfer from US’ high-yield dairy cow Holstein Friesian. This is the largest herd of cows that TH has imported from the US so far. The group’s husbandry experts carefully examined standards related to origin, genealogy, genetic potential, appearance, physical strength, potential for milk production and ability to fight diseases in the tropical region. All individuals in the herd weigh 400-500 kg and are expected to produce 12,000 litres per head each 305 days on average. Milk production from these cows will begin in January 2019. According to Tal Cohen, General Director of the TH Milk Food Joint Stock Company - the management unit of the TH dairy cow farm, TH Group imported 1,300 dairy cows from the US in April 2017 for the first time. It also imported … [Read more...] about BUSINESS NEWS IN BRIEF 20/10
BUSINESS NEWS IN BRIEF 19/10
Norwegian solar companies seek cooperation opportunity in Vietnam A group of Norway’s leading solar companies attended a Norwegian Solar Seminar in Hanoi on October 15 to look for cooperation opportunities with local partners in the solar energy sector. The event is co-organized by Royal Norwegian Embassy and Power Engineering Consulting Joint Stock Company 1 (PECC1), under the Electricity of Vietnam (EVN) with the attendance of Norweiginan Ambassador designate, Ms Grete Lochen, Commercial Counsellor Mr Harald Naevdal, General Director of EVN PECC1 Mr Pham Nguyen Hung, representatives from the Ministry of Industry and Trade, and over 70 participants from the EVN and its subsidiaries, independent power plant owners, construction companies, private investors from Vietnam and Laos, suppliers and consultants and other stakeholders. At the seminar, an energy consultant of the World Bank presents an overview of Vietnam’s solar energy, highlighting the achievements of … [Read more...] about BUSINESS NEWS IN BRIEF 19/10
BUSINESS NEWS IN BRIEF 18/10
Singaporean enterprises seek opportunities in Vietnam A Singaporean mission of nearly 20 firms will visit Vietnam from October 15 to 19 to sound out cooperation prospects. The trip is jointly held by the Vietnam Trade Office in Singapore, the Malaysia-Singapore Chamber of Commerce and Industry and the Singapore Business Federation. According to the organizers, the Singaporean delegation includes representatives of large corporations, such as Sembcorp, which has developed seven Vietnam-Singapore industrial park projects in Vietnam, and NTUC, the retailer accounting for more than half of Singapore’s market share. Besides visits to corporations and industrial parks in Vietnam, there will be trade promotion meetings in HCMC and Can Tho City so that enterprises of the two countries can seek partners and export goods. Representatives of the South Agency of the Ministry of Industry and Trade, the HCMC Department of Industry and Trade and the Vietnam Trade Office in Singapore will also … [Read more...] about BUSINESS NEWS IN BRIEF 18/10
BUSINESS NEWS IN BRIEF 17/10
Hanoi Gift Show 2018 to draw more than 250 exhibitors Local airlines increase aircraft fleet Data from the Civil Aviation Administration of Vietnam (CAAV) show that the number of aircraft registered in Vietnam amounted to 175 as of September, up 14% year-on-year. Cat Lai customs work with 58 shipping firms over waste imports Customs officials at HCMC's Cat Lai Port have worked with representatives of 58 shipping companies that have transported over 3,000 containers of scrap to the port to determine their responsibilities and brief them of the Prime Minister’s Directive 27 on solutions to enhance control over imported waste, Thanh Nien newspaper reported, citing Pham Thi Leo, deputy head of Saigon Port Area 1 Customs Office. Leo said the customs agency was cooperating with these shipping companies in line with the 2014 Customs Law and 2005 Maritime Law. Shipping companies were asked to carry ineligible scrap imports out of Vietnam. They must assume responsibility for the waste … [Read more...] about BUSINESS NEWS IN BRIEF 17/10