Industrial production grows 7 1 in february 2018 cso

Thanh Cong Textile Garment Investment Trading JSC exported over one-third of its products to the United States in 2021. However, the company started to face challenges following the US’ blanket ban on all Xinjiang cotton. Last year, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act. Vietnam’s cotton imports reach up to one million tonnes each year, Photo: Shutterstock Tran Nhu Tung, chairman of the company, said that the company has adopted regulations this year related to this act. Accordingly, buyers have to be responsible for export orders to the US which source Chinese cotton materials. Thanh Cong secures many large orders from the US. In 2022, the company sets a target to generate $179 million in revenues and $10.87 million in profit, up 120 per cent and 188 per cent respectively against last year. Tung noted that yarn exports are the main driving force for Thanh Cong. “There is a rapidly growing demand for yarn imports in the global … [Read more...] about Demand for cotton forces adjustments

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

What are the concerns surrounding the Uyghur Forced Labor Prevention Act (UFLPA) implementation among Vietnamese garment exporters to the US? Association chairman Vu Duc Giang Some of the concerns are real. Since the UFLPA became effective in June, Vietnam has witnessed certain impacts on its garment exports to the US. Vietnam has maintained its position as the world’s third-largest cotton importer with a volume of 1.5 million tonnes per year. This includes 800,000 tonnes of cotton imported from the US, accounting for 60 per cent of the total imports. In January 2021, US Customs and Border Protection announced a ban on raw fibres, apparel, and textiles made from Xinjiang-grown cotton, which also covers cotton products made in third countries. Customs will detain imported merchandise unless the importer can prove by clear and convincing evidence that the goods were not from Xinjiang. What is the status of the recommendations from the US on Chinese cotton? Vietnam … [Read more...] about Facilitating recovery of Vietnam’s yarn sector in midst of US policy enforcement

Vietjet aircraft (Photo courtesy of Vietjet) HCM City (VNA) - Beginning the exciting autumn season in August, Vietjet offers an attractive promotion programme "Double day, great sale, comfortable flight" not to be missed. From 0:00 on August 8 , 2022 to 24:00 on August 10, 2022, Vietjet opens sales 888,888 promotional tickets with a discount up to 88% on all domestic and international routes. Accordingly, customers when booking Eco tickets at website www.vietjetair.com, Vietjet Air mobile app, Facebook at www.facebook.com/vietjetvietnam (the "Booking" section) can immediately use the promotion code VIETJET88 to receive up to 88% discount on fares, excluding taxes and fees. Promotional tickets are applied to all domestic routes across Vietnam and international destinations imbued with cultural identity, paradises of relaxation and shopping, as well as having exciting experiences in India, South Korea, Japan, Indonesia (Bali), Thailand, Singapore, Malaysia... with … [Read more...] about Vietjet offers 888,888 tickets with discount up to 88%

Although all the micro-economic and macro-economic advantages are available, it seems that there is no key catalyst for trending towards a new growth level at the stock market. Profits vary Initial statistics show that around 600 corporations have made public their financial statements in the second quarter of 2022. The number could be a bit higher if all the estimated figures were actively made public. Figures will continually be updated over the next few days, but the sales and profits of listed corporations will rise positively. For instance, as estimated by Vndirect Securities Corporation, considering 590 corporations listed by 26 July the total sales and profits in the second quarter increased by 25.3% and 17.9% respectively, over the same period last year. Stocks with high capitalization of more than VND 10,000 bln have recorded an average of 34.3% increase in sales and 24.9% in net profits. It is certainly normal for the stock trading market to have dark and bright … [Read more...] about Stock market showing no indication of growth

According to a forecast from the Ministry of Industry and Trade (MoIT), thermal power plants across the country will need 35 million tonnes of coal to serve power production this year, the major part of which needs to be imported. The figure is expected to increase to 46.5 million tonnes in 2025 and 123.7 million tonnes in 2045. The soaring increase in foreign currency used to import coal stems from the rising demand around the globe, causing a cost escalation and a shortage of supply. At its peak, the selling price on the global market was pushed up to $450-490 per tonne. The MoIT is increasing coal imports from Australia and South Africa to ease the recent shortages that resulted in power losses at manufacturing facilities and to ensure national energy security. Along with this, thermal power plants are also working with partners to diversify the fuel supply sources for their facilities. A representative of the Nghi Son thermal power plant in the central province … [Read more...] about Vietnam spends $5 billion on coal imports

General Department of Vietnam Customs data show that in May 2022, Vietnam exported 9,340 tonnes of coffee worth US$22 million to the US, down 16.5 percent in volume but up 2.3 percent in value compared with May 2021. In the first five months, the export volume reached 50,580 tonnes, with the value reaching US$124.95 million, down 2.9 percent in volume but up 23.6 percent in value year-on-year. Harvesting coffee The average price of Vietnamese coffee exports to the US in May 2022 was US$2,359 per tonne, down 5.9 percent compared with April but up 22.4 percent compared with May 2021. In the first five months, the average price was US$2,470 per tonne, up 27.2 percent year-on-year. According to the Center for WTO and International Trade, in the first four months of 2022, the US imported 768,800 tonnes of coffee worth US$4.11 billion, up 10.8 percent in volume of 49.6 percent in value compared with the same period last year. The average import price was US$5,353 per … [Read more...] about Coffee exports to US rise in value