Vietnamese Ambassador to South Africa Hoang Van Loi (R) at the seminar (Photo: VNA) Pretoria (VNA) - Vietnamese Ambassador to South Africa Hoang Van Loi has led a delegation of Vietnamese representative agencies in South Africa to attend a seminar on ASEAN investment held by the Department of International Relations and Cooperation (DIRCO) of South Africa and the Northern Cape provincial government in Kimberley city. This an initiative of the ASEAN Committee in Pretoria and is the first seminar on ASEAN investment organised in a South African locality. It also opened a series of events to explore opportunities for investment and trade cooperation between ASEAN member countries and South Africa in general and the Northern Cape province in particular. In his speech, Ambassador Loi briefed participants on Vietnam’s socio-economic development, major development orientations, as well as potential and opportunities to strengthen economic, trade, investment and tourism … [Read more...] about Vietnam eyes stronger trade, investment cooperation with South Africa
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During talks with visiting Deputy Minister of Agriculture and Rural Development of Vietnam Phung Duc Tien at the headquarters of DEFRA, Prentis affirmed her country’s commitment to strongly support the transformation of Vietnam's agriculture towards green, low emission and sustainable development. For his part, Tien proposed specific cooperation, including in the field of policy, to develop green and low-emission agriculture, promote the opening of agro-forestry-aquaculture markets, and strengthen cooperation in sustainable development, climate change adaptation and biodiversity. He expressed his hope that the two sides will soon sign a Memorandum of Understanding (MoU) on cooperation in agriculture and rural development, thus promoting and realizing priority cooperation programs and activities in 2022-2025. Regarding future orientations for cooperation, the Vietnamese official suggested the U.K. government to soon consider opening the market for fresh fruits such as mango, … [Read more...] about U.K. attaches importance to agriculture cooperation with Vietnam
Tra fish exports are projected to surge a whopping 97 percent year-on-year in the first five months of 2022, reaching 1.1 billion USD. Besides exporting to traditional markets such as the U.S. and Europe, seafood exporters have expanded markets to take advantage of the new demand. Specifically, Vietnam has trolled new fish markets in Mexico, Egypt and Thailand. VASEP expert Ta Ha said that the Mexico market has the largest export value in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade bloc. Tra fish sales to Mexico topped 50 million USD in the first five months of this year, an increase of 70 percent against last year’s figure. Shipments to Thailand hit nearly 50 million USD during the period, a year-on-year spike of 80 percent. Vietnam exported over 15 million USD worth of tra fish to Egypt, up 85 percent year-on-year. These are positive signs that tra fish is a favored seafood product in these fresh new markets. VASEP reports that … [Read more...] about Huge haul in new markets for Vietnam’s tra fish exports
Illustrative image. (Photo: SGGP) According to Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association (Vecom), in 2021, despite being heavily affected by the Covid-19 pandemic, Vietnam's e-commerce still maintained a good growth momentum with an increase of about 20 percent and a scale of $16 billion. Keeping the growth momentum, Vietnam is now one of the countries with the largest e-commerce market size in the region, besides Indonesia, Thailand, and Malaysia. Vietnam's internet economy in 2021 grew by 31 percent compared to 2020 and reached a scale of $21 billion. Of which, the online retail sector enlarged by 53 percent and touched a scale of $13 billion. There are two waves that have contributed to the steady development of e-commerce in Vietnam in 2020 and 2021 and will be the driving force for the next period. The first wave took place during the early stages of the Covid-19 pandemic in 2020, and the second one from June to September 2021, during the fourth … [Read more...] about Opportunities for e-commerce in Vietnam to boom
Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?
Global food prices are expected to keep on rising this year due to the Ukraine conflict and other factors, Photo: Thanh Tung China’s National Bureau of Statistics (NBS) said on May 11 that the consumer price index (CPI), the main measure of inflation and retail sales, increased by 2.1 per cent on-year in 2021 due to the impact of the recession and skyrocketing energy costs and food prices. Data released by the General Administration of Customs of China on April 13 recorded a decrease in China’s imports for the first time since August 2020. In March, China’s imports fell 0.1 per cent on-year. Assoc. Prof. Dr. Vu Sy Cuong from the Academy of Finance warned last week, “Along with the conflict in Ukraine, China’s economic difficulties could exacerbate inflationary pressures in Vietnam.” China’s slowing growth is clearly felt by many manufacturing and export industries of Vietnam. Pham Van Viet, president of garment firm VitaJean Co., Ltd., said, “Restrictions on raw materials … [Read more...] about Global effects mar control of inflation
Kim Højlund Christensen, Danish Ambassador to Vietnam With the return of tourism and trade activities, can you see any movement from business and investment promotion delegations that are going to visit Vietnam? The Vietnamese government’s recent decision to lift entry restrictions and especially to resume the visa-exemption travel programme for countries, including Denmark, is great news and positively welcomed by the Danish business community. Many Danish companies are already planning their visits to Vietnam this month and early next month to meet with their local business partners in person. At present, there are over 130 Danish companies represented in Vietnam. Therefore, there will be a large number of business visitors and delegations from headquarters in Denmark or other locations in the region coming here in the near future to visit their production facilities or to find new investment opportunities. Besides that, we also expect to have trade delegations visit our … [Read more...] about Danish investors pinpointing rising potential of Vietnam’s green energy