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Vinh Long province plans to promote shipment of high-quality rice. (Photo: VNA) Vinh Long (VNA) - The Mekong Delta province of Vinh Long is striving to boost sustainable export growth during 2021-2025. The province has set the target to reel in 870 million USD from exports by 2025, with key export markets including ASEAN, Japan, China, China’s Taiwan, Russia, East European countries, Africa, the EU and the US. According to Director of the provincial Department of Industry and Trade Nguyen Trung Kien, seeing rice as a key export, Vinh Long plans to ship average 100,000-200,000 tonnes of high-quality rice per year abroad until 2025, and work to increase price of local rice while diversifying rice products to branch out markets. Holding a huge advantage of tra and basa fish farming, the province eyes to sell some 20,000 tonnnes of frozen tra fish to foreign markets by 2025. Kien said Vinh Long is making efforts to gain 35-40 million USD from exports of grape fruits, canned fruits, dried fruits, and vegetables by 2025, adding areas were zoned off for cultivation of vegetables and orchards such as grape fruit, orange, tangerine, longan, and mango, among others. Additionally, the locality targets 530-600 million USD in export revenue of leather footwear and garment-textile, and 60 million USD in export revenue of handicraft products by 2025. In a bid to realise the set goals, an array of measures were outlined, Kien said, stressing due attention will be paid to developing agricultural processing industry and finished goods to better the products’ value and their competitive edge in the market. Kien said along with support policies for local production, the province will improve technical services to promote mechanisation of agriculture, particularly post-harvest processing and preservation. Investment promotion will be given priority so as to attract investment in supporting industries for footwear, garment-textile, electronics and …

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What are the principles to build forest environment and CO2 indexes? Prof. Pham Van Dien, deputy director general of the Vietnam Administration of Forestry (VNFOREST) The forest environment index would be a measure of the capacity to decrease CO2 emissions while simultaneously increasing absorption. A key part of this is forest carbon stock, the amount of carbon that has been sequestered from the atmosphere and is stored within the forest ecosystem. Comparing the forest environment index with actual emissions will help set payments for reducing emissions and establish a market for international emissions trading for sellers, buyers, and intermediaries alike. Regarding the CO2 index, I believe there are two theoretical avenues that can be taken. The index can either concern the carbon emissions of each facility separately, with the upper limit being the emissions quota allotted for them, or look at the net emissions of the entire market and carbon credit created by the decreases in emissions and increased absorption capacity achieved by managing the ecosystem. At the same time, the two indicators need to be built with a mind to ensure economic growth while promoting forest protection, benefiting buyers, sellers, and farmers alike. How will these indices promote carbon trading? They will be the basic building bricks to developing the domestic carbon market, making it possible to exchange carbon credit within the bounds of domestic regulations and international commitments. Reduction targets are forecast to drive carbon credit supply below demand, making the market more animated. The forest environment and CO2 indexes will motivate provinces to better manage their forests, while manufactures with net emissions will be encouraged to upgrade technology and switch to renewable energy to stay within their allotted quotas and avoid charges. What can Vietnam learn from the experience of other countries in managing carbon emission? …

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Vietnam racks up $1.29 billion in trade surplus in two months The country’s trade turnover during January-February topped some 95.81 billion USD, a year-on-year surge of 25.4 percent. Vietnam’s trade balance posted positive, 1.29 billion USD, in the first two months of the year, the General Department of Customs said on December 28. The country’s trade turnover during January-February topped some 95.81 billion USD, a year-on-year surge of 25.4 percent. Of the total, exports amounted to 48.55 billion USD, a yearly hike of 23.2 percent, while imports were estimated at 47.26 billion USD, or 25.9 percent higher than the same time last year. Foreign-invested companies accounted for 76.4 percent, or 37.07 billion USD, of Vietnam’s total export turnover. Meanwhile, the domestic sector shipped abroad 11.48 billion USD worth of products. There were nine commodities joining the billion-USD export club, including telephones and parts (9.3 billion USD, up 22.8 percent year-on-year); electronics, computers and parts (6.9 billion USD, up 27.3 percent); equipment, machines and parts (5.5 billion USD, up 72.6 percent); footwear (3.2 billion USD, up 15.4 percent); and wood and wooden products (2.4 billion USD, up 51 percent). They made up 73 percent of the country’s export turnover. The US was Vietnam’s biggest importer as it splashed out 14.2 billion USD on Vietnamese products, or 38.2 percent higher than the amount it spent the same time last year. China came second with 8.5 billion USD, followed by the EU with 6.3 billion USD, ASEAN 4.2 billion USD, the Republic of Korea 3.4 billion USD, and Japan 3.2 billion USD. Meanwhile, the country spent big (47.26 billion USD) on imports, with foreign-invested sector purchasing 31.64 billion USD worth of products from abroad for production, up 31.4 percent, while that of the domestic sector surged 16 percent to 15.62 billion USD. In the two-month period, China was the largest exporter of Vietnam, with revenue …

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