A farmer in Tra Vinh province is harvesting dragon fruits. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam’s fruit sector should focus on gaining trust from domestic consumers before focusing on exports, said Deputy Director of the Plant Cultivation Department under the Ministry of Agriculture and Rural Development (MARD) Nguyen Nhu Cuong. He said high quality fruit products that are well consumed domestically will lay a credible foundation for the exports in the future. The domestic market is the most effective place for the country’s tropical fresh fruit industry to seek consumers. As the country’s economy is developing and people’s incomes increase, domestic consumers are also more conscientious than before, requiring food, including fruit, to meet strict standards of food safety and hygiene. If the fruit sector wants to conquer domestic customers, it needs to adjust and produce high quality products capable of meeting export standards to serve the domestic … [Read more...] about VN’s fruits need to gain domestic market before exporting: experts
VietNamNet Bridge - Many Hong Kong businesses want to relocate their production bases to other countries, especially Southeast Asia, in the context of the US-China trade war. Jonathan K.S. Choi, chair of Sunwah Group and VinaCapital Vietnam said at In Style Hong Kong – 2018 organized by the Hong Kong Trade Development Council several days ago that Vietnam is a large market where Hong Kong businesses can invest and sell products. He said Vietnam has great advantages in farm produce, which China now buys in great quantities. Sunwah in Vietnam has been exporting Vietnam’s seafood and coffee. Foreign enterprises in China are now looking for places to set up their new factories. Political certainty is one of the most important factor for investors, but they don’t care about the political regime. Vietnam, with its political certainties, is believed to enjoy benefits from the US-China trade war thanks to the young population and low-cost labor force. Regarding knowledge … [Read more...] about Are Hong Kong businesses leaving Vietnam to avoid US-China trade war?
Back to English Comments Companies - September 11, 2018 | 01:03 pm GMT+7 "We do not know how to make software, we won’t stand a chance, were some of the things they said." - Truong Gia Binh At 10 p.m. on July 12, 2018, FPT chairman Truong Gia Binh was waiting calmly and patiently in front of a screen at the company’s headquarters in Hanoi.Halfway around the world in Atlanta, the U.S., an FPT team was wrapping up a deal that Binh had pinned very high hopes on – acquiring Intellinet, a management consulting and Microsoft-centric technology services firm.“From this day we can say proudly that the Vietnamese people and Vietnamese companies can acquire American firms on American land,” Binh would say later. “FPT will make a dramatic improvement and contribute more to Vietnamese software exports.”This has possibly been the best thing to happen in the 20 years since Binh first plotted to take FPT’s software to the world. The strategy of … [Read more...] about Software exports achieved, FPT sets sights on bigger goals – VnExpress International
The Hanoitimes - This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). Vietnam's top rice exporter Vietnam Southern Food Corp (Vinafood II) posted pre-tax profit of VND88.1 billion (US$3.79 million) in the first six months of 2018, compared to a loss of VND118 billion (US$5.08 million) recorded in the same period of last year, stated the company's financial statement. Illustrative photo. This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). In the January - June period, the company's revenue reached VND7.44 trillion (US$320.35 million), up 68% year-on-year, while gross profit margin increased by over three times year-on-year to VND659 billion (US$28.37 million). Vinafood 2 also recorded income of VND71.3 billion (US$3.07 million) from financial activities, up 2.2 times year-on-year, and … [Read more...] about Vietnam top rice exporter Vinafood II posts US$3.8 million profit in H1
(VEN) - The EU has surpassed the US to become the largest export market for Vietnam’s agricultural products. However, the general picture of export turnover of Vietnamese agricultural products to the EU shows they are not living up to their potential. Tran Ngoc Quan, deputy director of the European-American Market Department under the Ministry of Industry and Trade, spoke to Vietnam Economic News’ Viet Nga on the sidelines of a seminar entitled ‘Trade Promotion of Agricultural Products and Foodstuffs to EU and Japan Markets’. Tran Ngoc Quan, deputy director of the European-American Market Department under the Ministry of Industry and Trade What are shortcomings and difficulties for Vietnam’s agricultural exports to the EU? The EU is not an open agricultural market and has very strong protection in this area. It has also introduced a number of strict conditions for food hygiene and safety, as well as applied various measures for plant safety, … [Read more...] about Quality is key to agricultural exports to EU