Non oil export and economic growth in nigeria pdf

Vietnam’s seafood exports to the EU are expected to increase sharply in 2022 Preferential fishery product tariffs The EVFTA, which took effect on August 1, 2020, has provided great opportunities for Vietnam’s seafood exports to the EU thanks to a series of commitments on preferential tariffs. Under the EVFTA, among about 220 tariff lines of fishery products with rates ranging from zero percent to 22 percent, most tariff lines in the high range of 6-22 percent were reduced to zero percent immediately after the trade deal took effect. The remaining tax lines will be phased out to zero after 3-7 years. Shrimp is a major export benefitting from the new tariff scheme’s zero-percent tax rate for 3-5 years, while tariffs on frozen tra fish have been reduced to zero percent for three years. Other seafood, such as oysters, scallops and octopus, also enjoy zero-percent tax rate. In addition, the Russia-Ukraine war and sanctions imposed on Russia have offered Vietnam with … [Read more...] about Vietnam’s seafood exports to EU going swimmingly well

This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3 - 18. “The Vietnamese economy is expected to grow at 6.3 percent in 2022 and 6.5 percent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investments inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border restrictions and domestic containment measures were eased. The aggregate output gap is expected to narrow significantly by the end of this year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality and … [Read more...] about AMRO forecasts Vietnam’s strong recovery amid external headwinds

Prime Minister Pham Minh Chinh attends Gia Lai's 90th founding anniversary celebration ceremony in Pleiku City on May 21 evening. (Photo: VNA) Gia Lai (VNA) - Gia Lai should make renewable energy a key economic sector and pay more attention to developing tourism and processing industries while, Prime Minister Pham Minh Chinh stressed at the Central Highlands province’s 90th founding anniversary celebration ceremony held in Pleiku City on May 21 evening. Gia Lai is blessed with various natural and cultural advantages, Chinh said in his remarks, noting that the province has magnificent, green landscapes; fertile soil; a wealth of minerals and resources; distinctive cultures; as well as hardworking and friendly people. To make the most of such advantages and potential to turn Gia Lai into a strong province with improved living standards, the provincial Party organisation, administration and people must work harder, cement their solidarity, and stay active, … [Read more...] about Gia Lai should make renewable energy key sector: PM

The Ministry of Transport and localities have proposed VND103 trillion (USD4.43 billion) to carry out 13 transport infrastructure projects between 2022 and 2023. The Ministry of Transport has recommended six projects worth a total capital of VND87 trillion (USD3.75 billion) which will be sourced from the government’s socio-economic recovery programme. The Ministry of Transport and localities have proposed VND103 trillion to carry out 13 transport infrastructure projects The biggest project is the eastern section of the north-south expressway which has a total investment of VND146.9 trillion. Under the ministry’s proposal, VND72.6 trillion will be taken from the government’s socio-economic recovery programme. The other projects are the Cao Lanh-An Huu, Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot, Bien Hoa-Vung Tau expressways and Dai Nghia Bridge which will use VND6 trillion, VND1.2 trillion, VND3.8 trillion, VND2.3 trillion, VND3.5 trillion and VND4.1 … [Read more...] about VND103 trillion proposed for 13 infrastructure projects

National carrier Vietnam Airlines remained in the red in the first quarter of this year, with losses of nearly US$113 million, despite its revenue rising to a two-year high. The airline posted a loss of VND2.621 trillion ($112.9 million) over the first three months of 2022, according to its Q1 consolidated financial statements issued on Friday. The loss was recorded even though the flag carrier logged revenue of more than VND11.6 trillion ($500 million) in the period, up 55 percent year on year, the highest performance since the second quarter of 2020, when COVID-19 began to severely affect Vietnam’s aviation industry. The impressive revenue failed to cover the total cost that was higher than expected, leading to the firm’s ninth consecutive quarterly loss, the carrier said. Vietnam Airlines’ fuel expense in the quarter was VND465 billion ($20 million) more than projected given rising world oil prices, VnExpress cited the company as saying. The Q1 result has brought the … [Read more...] about Vietnam Airlines suffers $113mn Q1 loss despite revenue surge

Passengers on the first Vietjet Air flight from Seoul to Nha Trang. (Photo: vietjetair.com) Hanoi (VNA) – Celebrating a vibrant summer and welcoming life back to Vietnam's famous paradise beaches, budget carrier Vietjet has officially reopened flights connecting Seoul and Nha Trang, Phu Quoc and Hai Phong. The first flight back to Nha Trang from Seoul on May 20 was greeted with a water cannon salute, flowers and gifts, showing Vietnam’s warm hospitality to visitors. Vietjet plans to relaunch services from Seoul to Phu Quoc and Hai Phong and vice versa this May, raising the total routes linking Vietnam and the Republic of Korea to six, given that the two countries are expecting a new wave of tourists from both sides, after the RoK announced the resumption of short-term tourist visas for foreigners from June 1. There are currently three Nha Trang - Seoul (Incheon) round-trip flights weekly, on Wednesdays, Fridays and Sundays. Starting from May 21, Vietjet … [Read more...] about Vietjet reopens flights between Seoul and Vietnam’s beach destinations