HCM City eyes 10 percent growth in export in 2021 Shrimps processed for export 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 …
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Fishermen in Phu Yen enjoy big catches after Tet
Fishermen in the southern central province of Phu Yen are enjoying big catches of shrimp and fish after Tet Holiday. These days, many fishing boats in Song Cau Town arrived at local wharves with bountiful catches, particularly acete shrimp, providing local fishermen with a daily income of VND4-8 million (USD173.91-347.82). The buckets of fresh acetes are brought ashore from boats to sell to traders. According to fishermen, the acetes shrimp often appear in Phu Yen in the first lunar month. Local people leave home from 5-6 am and they can catch 5-700 kilos in the morning. Le Van Du’s boat caught nearly 500 kilos in a morning. At present, a kilo of acetes is sold for VND8,000, so with 500 kilos of acetes, Du’s family can earn VND5 million per day. The favourable weather and calm sea is the major cause of the successful catches this year. If the weather is fine, people in Phu Yen can catch acetes until the end of the first lunar month. Pham Hoai Lam who works at Dan Phuoc fishing port, said that around 50-60 boats docked the port every day. Each boat transports 800-900 kilos of acetes which are then quickly bought by traders. At this time of the year, many fishermen in Phu Yen also enjoyed the good catches of large head hair tail belt fish. Phan Van Oanh, a local resident, said that his boat with six people on board caught three tonnes of belt fish in three days, earning them VND60 million. …
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Shares recover on the back of banking and energy stocks
A customer at a branch of Military Bank (MBB). Shares of MBB rose 1.1 per cent on Thursday. Photo courtesy of MBB HÀ NỘI — Shares bounced back on Thursday on the back of large-caps, banking and energy stocks. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.29 per cent to close at 1,165.43 points. It had lost 1.33 per cent to close Wednesday at 1,162.01 points. More than 510.4 million shares were traded on the southern bourse, worth VNĐ13.5 trillion (US$589 million). Market breadth was neutral with 220 gainers and 214 losers. “The VN-Index is still in a consolidating span at the 1,160-1,200-point range,” said BIDV Securities Co. “Liquidity declined compared to the previous session, market band was narrowed and market breadth was positive, showing that investor sentiment is stabilising. “Foreigners continued to be net sellers on the HoSE while they were net buyers on the HNX. “BSC recommends mid and long-term investors to open positions in some good fundamental stocks in this short-term consolidating span,” it said. Foreign investors net sold VNĐ460.80 billion on HOSE, including dairy firm Vinamilk (VNM) (VNĐ233.40 billion), Vietnam National Petroleum Group (PLX) (VNĐ47.4 billion), and real estate company Khang Điền House (KDH) (VNĐ36.2 billion). They were net buyers on the HNX with the value of VNĐ10.44 billion. The oil and gas sector index gained 2.4 per cent, becoming one of the best-performing sectors in Việt Nam on Thursday, data on vietstock.vn showed. Vietnamese oil and gas stocks grew well, including PetroVietnam Gas JSC (GAS), Viet Nam National Petroleum Group (PLX), PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Power Corp (POW), and PetroVietnam Technical Services (PVS). Besides the petroleum industry, financial stocks also performed well with the banking and industry indices rising 0.3 per cent and 0.3 per cent, with gainers including …
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