Hi-tech agriculture proves effective in Dong Nai Agricultural production has been affected by abnormal weather conditions, climate change, and diseases over recent years. Many farms in southern Dong Nai province have applied high-technology in agricultural production in order to cope with the situation, helping increase quality and output. High-tech production requires massive investment, not just capital but also technology, equipment, and “grey matter”, to adapt to cutting-edge manufacturing methods. High-tech manufacturing models have been expanded around Dong Nai, especially in animal husbandry and on poultry farms. Dong Nai has more than 46,000 hectares of crops using water-saving technology and the province has gradually changed to green breeding in accordance with Vietnamese Good Agricultural Practice (VietGAP) standards. Agriculture accounts for 8.3 percent of Dong Nai’s economic structure and agro-forestry-fisheries value currently stands at nearly 1.8 billion USD. The results reflect the province’s large-scale manufacturing development investment and high-tech application to adapt to unfavourable conditions and meet market demand. Vietnam’s growth outlook to depend on authorities’ response to new outbreak: WB Vietnam’s growth prospects will depend on how well and how quickly the authorities will bring the new coronavirus outbreak under control and how quickly international and national vaccinations will proceed, according to the World Bank (WB). In its Vietnam Macro Monitoring report issued earlier this month, the WB said January’s industrial production index jumped by 24.5 percent year on year, the highest growth rate since the beginning of 2019. Merchandise exports and imports respectively grew 51.8 percent and 41.8 percent from the same period last year. The preliminary January goods trade surplus is estimated at 1.1 billion USD. Exports to the US and China continued the robust growth of 2020 while those to the EU, ASEAN, Japan …
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HCM City eyes 10 percent growth in export in 2021
Shrimps processed for export (Photo: VNA) HCM City (VNA) – Ho Chi Minh City ’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van Hung said COVID-19 has been largely brought under control around Vietnam, resulting in the production sector exhibiting signs of recovery. Local enterprises, however, continue to face difficulties as many major trading nations are yet to open their markets. He noted that enterprises are in need of diverse and long-term support relating to information on importers of materials and fuel, new markets and partners, and domestic consumption stimulus measures. According to Nguyen Phuong Dong, Director of the municipal Department of Industry and Trade, despite facing myriad challenges, last year the city still saw five goods post export turnover in excess of 1 billion USD: computers-electronic products and components, with 17.8 billion USD; garment-textile 4.3 billion USD; footwear 2.2 billion USD; machinery-equipment-spare parts 2.2 billion USD; and other goods 6.9 billion USD. Together their export value accounted for 83.5 percent of the city’s total. Key export markets remained …
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Indian firms to benefit from Vietnamese pharmaceutical industry: expert
Nguyen Van Phung, director of the Department of Tax Administration at Large Enterprises from the General Department of Taxation Nguyen Van Phung, director of the Department of Tax Administration at Large Enterprises from the General Department of Taxation, spoke with Viet Nam News about incentive tax policies for Indian corporations investing in the Vietnamese pharmaceutical industry. How has the bilateral trade relationship, especially in the pharmaceutical industry, between India and Viet Nam developed? The bilateral trade relationship between India and Viet Nam in recent years has grown quite steadily and developed continuously. For India, Viet Nam is the 18th-largest trading partner globally and within ASEAN, the fourth-largest trading partner after Singapore, Indonesia and Malaysia. For Viet Nam, India is a major trading partner among 10 important partners, is the seventh-largest source of imports and the ninth-largest export market globally. India imports from Viet Nam all kinds of equipment, machinery, electronics, iron and steel, and chemicals. Meanwhile, Viet Nam imports from India many cotton products, raw materials for the textile and garment industry and raw materials for the agricultural processing industry, animal feed and pharmaceuticals. Regarding trade and investment relations between Viet Nam and India in pharmaceuticals and medical equipment, according to the embassy of India, India has been one of the largest exporters of pharmaceutical products to Viet Nam in recent years. With cheaper prices than sources from Europe and the US, imported pharmaceutical products from India are very important in stabilising prices for imported pharmaceutical products. India is currently the third-largest supplier of Viet Nam, after France and Germany, in the pharmaceutical sector, with imports in the first nine months of 2020 reaching US$198 million. The demand for pharmaceutical products in Viet Nam is increasing and on average each Vietnamese …
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