Bangkok (VNA) – Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has pledged to speed up adjustment of the country’s rice strategy as quickly as possible as the industry is facing an array of challenges, including a strong baht and rising production costs. Local media quoted the official as saying after presiding over a recent Thai hom mali fragrant rice fair that rice exports have fared poorly since the beginning of last year because of foreign exchange swings and the ascendant baht, making Thai rice more expensive than competing grains. The country’s Ministry of Commerce is pursuing a rice strategy to improve competitiveness, covering all systems including marketing, cultivation and R&D of new rice varieties, Jurin said, noting that it is also working to find ways to reduce production costs for farmers to make Thai rice more affordable. He added it is promoting seven rice products and seed development as part of a marketing-led … [Read more...] about Thailand adjusts rice strategy to improve competitiveness
Textile export promotion council
With the opinions of the transport businesses, Mr. Ta Cong Thuan, General Director of Vinatrucking Transport Trading Floor, said that in the first one or two years, on average, the floor had 300-400 visits, received and handled dozens of orders every day. However, after having had the contacts of each other, shippers and transporters made the agreements by themselves, not through the floor anymore. This is an economic transaction, the two sides agree on their own without any binding mechanism, nor sanctions so the floor cannot do anything. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 10
The two countries have built a partnership and friendship founded on shared interests, mutual respect, and people-to-people ties, said US Secretary of State Michael R. Pompeo in a special video message he taped for the Vietnamese people. He pointed to increasing trade and investment ties, strategic cooperation, and collaboration in resolving humanitarian issues and war legacies. In recent years, the two countries have strengthened and expanded the comprehensive partnership, based on a shared vision of a stable and peaceful Indo-Pacific region, as well as respect for each other’s independence, sovereignty, territorial integrity, and political systems, Pompeo said. … [Read more...] about Vietnam, US mark a quarter century of normalization
If there is more trade from the EU to Vietnam, it is likely that the EVFTA will trigger a new wave of FDI from the EU into this country. Investments from the EU are of top quality. European FDI comes with high standards of corporate social responsibility for protecting and training workers and employees, as well as for respecting and protecting the environment. These spillover effects are essential for economies like Vietnam to avoid the middle-income trap. It allows Vietnam to promote economic growth, create better jobs at the same time while ensuring sustainable development. … [Read more...] about How the EVFTA and EVIPA will help Vietnam lure investment
* Vo Tri Thanh is a senior economist at the Central Institute for Economic Management (CIEM) and a member of the National Financial and Monetary Policy Advisory Council. The holder of a doctorate in economics from the Australian National University, Thanh mainly undertakes research and provides consultation on issues related to macroeconomic policies, trade liberalisation and international economic integration. Other areas of interest include institutional reforms and financial systems. VNS … [Read more...] about Can Vietnam could take advantage of new foreign investment strategies?