Increase export

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam has many more opportunities to increase export of fruits and vegetables to the European Union - the world's largest market, thanks to tariff incentives brought by the EU-Vietnam Free Trade Agreement (EVFTA), according to analysts. Data from the General Department of Customs show Vietnam’s vegetable and fruit export turnover to Europe in 2021 hit 303 million USD, up 17.4 percent year-on-year. EU countries was on the rise. Notably, the demand for novel tropical fruits and vegetables increased from 15-20 percent for fresh products and over 30 percent for processed products. Vietnam , during 2022 – 2023. VNA … [Read more...] about EVFTA helps push up Vietnam’s spice, fruit, vegetable export to EU

In July, the growth rate of seafood exports continued to slow down to 14% on the year, earning 970 USD million. (Photo baodautu.vn) Hanoi (VNS/VNA) - Vietnam's seafood export value is expected to slow growth to 3 billion USD in the third quarter due to a lack of raw materials and disadvantages in the market in the second half. At the beginning of the year, farmers released shrimp due to the forecast that the weather would not be too cold. They have expected to early harvest raw shrimp . However, diseases and the quality of shrimp seeds have affected farming results. According to Ho Quoc Luc, former chairman of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) and also chairman of the Sao Ta Foods Joint Stock Company (FIMEX), there are three reasons for the shortage of raw shrimp, including disease, quality of shrimp varieties and water source. By the end of this year, the supply of raw shrimp will not be abundant, and prices will remain high, … [Read more...] about Seafood exports expected to reach 3 billion USD in Q3

In July, the growth rate of seafood exports continued to slow down to 14 per cent on the year, earning $970 million. — Photo baodautu.vn Viet Nam's seafood export value is expected to slow growth to US$3 million in the third quarter due to a lack of raw materials and disadvantages in the market in the second half. At the beginning of the year, farmers released shrimp due to the forecast that the weather would not be too cold. They have expected to early harvest raw shrimp. However, diseases and the quality of shrimp seeds have affected farming results. According to Ho Quoc Luc, former chairman of the Viet Nam Association of Seafood Exporters and Producers (VASEP) and also chairman of the Sao Ta Foods Joint Stock Company (FIMEX), there are three reasons for the shortage of raw shrimp, including disease, quality of shrimp varieties and water source. By the end of this year, the supply of raw shrimp will not be abundant, and prices will remain high, said Luc. This will encourage … [Read more...] about Seafood exports expected to reach $3b in Q3

Cao Son Coal, the company with the largest mining output in Vietnam, on July 19 announced to improve and expand the capacity of the Cao Son coal mine in Cam Pha in the northeastern province of Quang Ninh, to meet high production requirements. Coal mining companies are increasing output to deal with power generation shortages, Le Toan The mine has total reserves of almost 52 million tonnes, with a designed capacity of about 4.5 million tonnes per year. By upgrading the reserves, Cao Son’s coal mine is expected to complete a record high mining output of 6.78 million tonnes in 2022. Phan Quoc Viet, director of Cao Son Coal, said, “We have mobilised equipment to maximise the exploitation of raw coal at the Cao Son mine. In 2021, we achieved a mining output of over 6.4 million tonnes.” Many miners feel that Cao Son Coal’s plan to increase output faces many challenges, especially considering the increasingly difficult and complex open-pit mining conditions. Similar to … [Read more...] about Power shortage worries increase hunger for coal

At the conference on August 11, MPI Minister Dung said that thanks to the control of the pandemic and the maintenance of macroeconomic stability, the business sector has reported a positive recovery recently. As of July, the whole country had about 871,000 operating enterprises with tax incurred, an increase of nearly 13 per cent compared to 2021. In the first seven months of 2022, the number of enterprises entering and returning to the market, as well as additionally registered capital into the economy, increased sharply. The number of enterprises entering and re-entering the market was over 130,000 enterprises, an increase of 26.8 per cent on-year, 1.4 times higher than the number of enterprises withdrawing from the market. The total registered capital added to the economy in the first seven months of 2022 reached over $143 billion, an increase of over 37 per cent on-year. According to reports from business associations, the market has recovered over 75-85 per cent compared … [Read more...] about Utilising every opportunity to grow and overcome challenges

Vietnamese and Polish businesses exchange cooperation opportunities at a networking event on Thursday in HCM City. — VNA/VNS Photo Viet Nam appreciates Poland’s continued support in pushing for the EU’s early ratification of the EU-Viet Nam Investment Protection Agreement (EVIPA) and removal of the EC’s “yellow card” warning against Viet Nam’s fishing industry. Speaking at a networking event on Thursday, Nguyen Huu Nam, deputy director of the Viet Nam Chamber of Commerce and Industry (VCCI) in HCM City, said these developments would help expand Viet Nam-Poland trade and investment relations. The European Parliament (EP) recently passed a report on its Indo-Pacific strategy in the area of trade and investment, stressing the importance of the EU’s free trade agreements with partners in the region. The report called on EU members to ratify the EVIPA so that it can take effect early and create optimal conditions for promoting the EU’s investment in the region and Viet Nam. … [Read more...] about Viet Nam, Poland to expand trade and investment ties

At the end of July, Samsung Electronics announced the first shipment of 3-nanometer semiconductors, the first of its kind worldwide. The move marks an important milestone in the race to develop the most advanced and efficient chip in the market. Tungsten riches not yet in grip of giants, illustration photo/ freepik.com The advancement in the sophisticated chipmaking technology, which helped Samsung beat foundry rival TSMC of Taiwan, is expected to bring the group more customers looking for powerful chips that enable smaller, faster, and more efficient technology products. TSMC and Samsung have been engaged in intense competition to overtake each other by introducing the most cutting-edge and effective chips to the market and gaining clients for contract chip manufacturing. In the first quarter of this year, the worldwide foundry market was dominated by TSMC with 53.5 per cent of the market share, followed by Samsung with 16.3 per cent, according to industry tracker … [Read more...] about Tungsten riches not yet in grip of giants

According to the Vietnam Hotels Association, there are over 550 luxury hotels that accounts for about 18% of the total number of rooms in the country. Hence the shortage of trained staff in this segment is concerning, industry insiders say. Dao Manh Hung, Chairman of the Vietnam Tourism Education Association, said that in the first seven months of the year, the number of domestic tourists reached 71.8 million arrivals, exceeding the target of 60 million. But this has not proved very advantageous for luxury hotels. "The rise of domestic tourism post Covid-19 has had a great impact on middle-level hotels and the hiring of staff in this segment has increased rapidly. But, due to the slow return of international visitors, luxury hotels haven't been able to do the same. Well-trained staff in these hotels might have changed their careers and may not return after Covid-19," Hung said at a conference held Tuesday. The dire need for staff has seen high-end hotels lower their qualification … [Read more...] about Concern mounts over continued staff shortage at luxury hotels

Hanoi, (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 12. – Deputy Minister of National Defence Sen. Lt. Gen. Hoang Xuan Chien received UN Resident Coordinator in Vietnam Pauline Tamesis in Hanoi on August 12, saying that Vietnam will take part in UN peacekeeping operations more extensively in the time ahead. Chien appreciated the cooperation and assistance from the UN and its agencies in Vietnam, especially the UN Resident Coordinator Office, when the country served as the ASEAN Chair in 2020 and a non-permanent member of the UN Security Council during 2020 - 2021. Read full story – The National Assembly of People's Power of Cuba has received 750 tablets, two servers and two printers as gifts from the Vietnamese counterpart. Speaking at the handover ceremony held on August 11 in Havana, Vietnamese Ambassador to Cuba Le Thanh Tung said the equipment is intended to help the Cuban legislature improve its operational … [Read more...] about ☕ Afternoon briefing on August 12

At the event entitled Hanoi-Vientiane (Laos) Cooperation for Mutual Development, businesses from the two sides agreed to boost cooperation in manufacturing investment, tourism, transport, hotels, agriculture, and high-tech agriculture. Director of Hanoi Centre for Investment , Trade, and Tourism Promotion (HPA) Nguyen Anh Duong said that the centre will organise programmes in Vientiane to create opportunities for businesses from the two countries to increase investment cooperation and tourism promotion. At the conference in Hanoi on August 10 According to the Hanoi Department of Planning and Investment, in the first six months of 2022, Hanoi’s export turnover to Laos reached $74.8 million and the import value hit $98.3 million. The HPA will organise programmes in Vientiane to create opportunities for businesses from the two countries to increase investment cooperation and tourism promotion. The exhibition highlighting the solidarity and … [Read more...] about Hanoi and Vientiane seek to strengthen cooperation