Steel industry in texas

Export growth despite challenges According to Do Xuan Lap, Chair of the Vietnam Timber and Forest Product Association (VIFORES), 2020 was an extremely difficult year for the industry. In addition to supply chain disruptions caused by Covid-19, the wood industry was hit with lawsuits related to trade defense, dumping, avoidance of origin indication, and skyrocketing prices of materials. The pandemic also had a negative impact on 6,000 enterprises in the forest production industry, especially over 1,600 enterprises processing and exporting forest products, forcing some of them to close. In addition, logistics activities faced many difficulties due to the lack of containers, increasing freight rates. Nonetheless, the export value of timber and wooden products rose 16.4 percent to US$13.17 billion, accounting for 31 percent of the agriculture sector’s total export value. Addressing a January 6 conference, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the sector has developed processing activities of wood and furniture products but few high-value handicraft products and furniture. He urged the sector to focus on development of the forestry economy and annual production growth of 10 percent. Cuong also said the forestry sector is facing many difficulties, including fiercer global trade competition. The Republic of Korea (RoK) and the US, two key furniture export markets of Vietnam, have started tax investigations against Vietnamese furniture exports, requiring it to speed up reforestation to supply timber with origin for exports and processing. Lap said the current forest coverage rate is 42 percent but the sector must pay attention to forest development in the three key areas of the northwest, Central Highlands, and coastal region. Mixed 2021 outlook In addition to the ongoing impact of the coronavirus pandemic, Vietnam faces the risk of a US anti-evasion tax on Vietnamese timber. Lap also emphasized that …

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Snow storm in Texas (Photo: VNA) Hanoi (VNA) - The Vietnamese Consulate General in Texas and Vietnamese representative offices in the US are keeping a close watch on the record cold temperatures in Texas, have appointed staff on-duty around the clock, and are coordinating with host authorities to conduct necessary citizen protection measures, Foreign Ministry spokesperson Le Thi Thu Hang said on February 25. Hang told reporters that a majority of the 300,000 or so Vietnamese people in Texas have been seriously affected by the record-breaking snow storm and cold spell, which cut power and water supplies. According to official information from Texas authorities, four Vietnamese Americans were killed in a fire in the state, Hang said, adding that the Vietnamese Consulate General in Houston has contacted Vietnamese people and students in the local area to offer support. People seeking help are advised to contact the citizen protection hotlines of the Vietnamese Embassy in the US and the Vietnamese Consulate General in Houston, or the Citizen Protection Call Centre of the Ministry of Foreign Affairs’ Consular Department./. VNA …

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Domestic pharmaceutical firms will play an increasingly dominant role in Vietnam. (Photo: gmp.com.vn) Hanoi (VNS/VNA) - The Vietnamese Government's support for the local pharmaceutical industry will remain steadfast, according to Fitch Solutions . Under a report released last week, the UK-based financial information group said this was in part driven by the authorities' push to meet domestic healthcare needs. In addition, the economic potential of the pharmaceutical sector will incentivise continued Government support for the domestic industry. Although the Government aims to increase the share of locally produced pharmaceuticals to 80 percent, an average of 55 percent of medicines in Vietnam are imported every year. One of the reasons for Vietnam’s reliance on imports is that most domestic companies lack research and development capabilities, and do not meet the European Union Good Manufacturing Practice (EU-GMP) or Pharmaceutical Inspection Co-operation Scheme Good Manufacturing Practice (PIC/S-GMP) standards required to manufacture high-quality generic drugs. Further, Vietnam imports more than 90 percent of drug inputs, half of which are from China. According to Fitch, partnerships with local firms are integral. As a result of Government initiatives, domestic pharmaceutical firms will play an increasingly dominant role in Vietnam. “This accentuates the need for multinational pharmaceutical companies to partner with local drugmakers to adapt to this trend. Finding a local company to start such a joint venture is an important first step to enter the market in Vietnam ,” Fitch said. Foreign companies often work with domestic companies, such as Diethelm Vietnam, Zuellig Pharma Vietnam, and Mega Lifesciences, to fill in different needs in the supply chain. Fitch forecast a shift from pharmaceutical production to a more research-based industry was likely. The boost in attractiveness of the Vietnamese market comes at a time when the business …

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