Declining market

Harvesting dragon fruits for export in Long An Province. Việt Nam hopes to be allowed official export of dragon fruit to China this year. — VNA/VNS Photo China is the largest export market of Vietnamese fruits and vegetables, accounting for nearly 65 per cent of the total fruit and vegetable export value, according to Đặng Phúc Nguyên, general secretary of the Việt Nam Fruit and Vegetable Association. Besides durian, Việt Nam hopes to be granted official export permission for jackfruit and dragon fruit to this market from now to the end of this year. With increasing quality, Vietnamese fruits are popular among Chinese consumers. The fruit exports are forecast to maintain growth, especially with increasing demand during the holiday season. Last year, Việt Nam signed fruit protocols with China, bringing many advantages to Việt Nam's fruit and vegetable export activities. Phùng Đức Tiến, Deputy Minister of Agriculture and Rural Development, said that Việt Nam would continue … [Read more...] about China is the largest export market of Vietnamese fruits and vegetables

According to the latest report of UOB, after starting off the year at a sluggish pace, with real GDP growth in Q1 decelerating to 3.28 per cent on-year, from 5.92 per cent in the previous quarter, growth momentum in Vietnam remained lethargic, largely due to weak external demand coupled with an underperforming manufacturing sector. As a result, economic growth in Q2 expanded just 4.14 per cent on-year, for a cumulative growth rate of 3.72 per cent on-year in H1, well below the official growth target of 6.5 per cent. In terms of sectoral performance, manufacturing (including construction), which accounts for about 34 per cent share of the economy, managed to gain about 1.1 per cent on-year in Q2 with a positive contribution in H1. Meanwhile, the services sector (43 per cent share) managed to cushion some of the weaknesses from the external sector, rising 6.1 per cent on-year in Q2 following the 6.6 per cent on-year run in Q1. The services sector contributed 2.7 percentage points, … [Read more...] about Soft momentum likely for Q3: UOB

At the meeting. — Photo courtesy of Petrovietnam Vietnam National Oil and Gas Group (Petrovietnam) is actively pursuing strategies to ensure the continuity of oil and gas production in 2023 in the face of various challenges in its production and business operations. This becomes especially crucial as many of Việt Nam's key oil fields are experiencing natural declines, and several member units lack the capacity for substantial investments in new mining ventures. According to Petrovietnam, the current market supply and demand conditions have exhibited several shortcomings since the beginning of the year. These include a low capacity to mobilise electricity, resulting in significantly lower gas production than planned and in comparison to previous periods. Consequently, there is an excess of gas production, which has repercussions on the targets for crude oil production. Additionally, it hampers the achievement of long-term reserve increases and planned production expansions for … [Read more...] about Petrovietnam pushes initiatives to sustain oil and gas production