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Speaking at the kick-start ceremony, Permanent Deputy Prime Minister, Truong Hoa Binh highly appreciated the provincial government that has created advantages for the implementation of the project, towards the sustainable development associated with benefits of business and the community. He hoped the project will become a typical dairy farm in the region and asked ministries and State units to support An Giang and the investor, TH Group to complete the project on time. The project costing VND2,655 billion (US$115 million) will have a herd of around 10,000 cows that are expected to produce 135 tons of milk per day. Besides, the investor plans to build an eco-accommodation site and focus on organic farming and growing to provide agricultural products meeting Global GAP (Good Agricultural Practices) standards. By Ngoc Dan – Translated by Kim Khanh …

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The Hanoitimes - The trade deal will open a new chapter in the Vietnam – UK relations, UK International Trade Secretary Liz Truss has said. Once coming into force, the UK – Vietnam Free Trade Agreement (UKVFTA) would serve as a major boost for a number of Vietnam’s export staples, including seafood, rice, garment, vegetables, among others, suggested the Ministry of Industry and Trade (MoIT) in a report. Prime Minister Nguyen Xuan Phuc and UK International Trade Secretary Liz Truss in a meeting yesterday. Photo: Quang Hieu. In 2019, Vietnam exported seafood worth US$298.2 million to the UK, or 6.7% of the latter’s total fishery imports. With the UKVFTA in place import tariffs for fresh or frozen shrimp would immediately go down to 0%. A zero-tariff rate is set to continue boosting Vietnam’s exports of shrimp and catfish to the UK market, which also makes the sector more attractive in the eyes of investors looking to take advantage of the trade deal. A study from the Ministry of Planning and Investment (MPI) predicted export turnover of Vietnam’s garment products to the EU market would expand by 67% by 2025 with the EU – Vietnam Free Trade Agreement (EVFTA). A similar effect is expected from the UKVFTA, stated the MoIT. At present, Vietnam’s textile exports to the UK only accounts for 2.77% of total import turnover of the latter for garment products, indicating huge potential for Vietnamese textile companies to further penetrate the market. The MoIT also views the UK as a potential rice buyer for Vietnam. In 2019, the country’s rice exports to the UK surged by 376% against that of in the previous year. Needless to say, the UKVFTA is set to put Vietnam in a favorable position compared to other rice exporters that do not possess a similar deal with the UK, including Thailand, China or India. Vietnam remained 6 th largest exporter of wooden products to the UK in 2019 with turnover of US$432.8 million, accounting for 3.6% of the …

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The Hanoitimes - While the UK continues to be a potential market for Vietnam’s key export staples, the latter could be a springboard for British companies to reach a broader market in Southeast Asia. As the UK and Vietnam markets are highly complementary, trade relations between the two countries would ensure a win-win scenario for all parties involved, according to Vice Minister of Industry and Trade Hoang Quoc Vuong. Overview of the conference. Source: MoIT. As of one the world’s hubs of economy, politics, culture and science, the UK remains Vietnam’s priority economic partner, stated Mr. Vuong at a conference discussing opportunities for British and Vietnamese businesses on October 6. While the UK continues to be a potential market for Vietnam’s key export staples, including agricultural products, footwear, textile, phones and wood, among others, the latter could be  a gateway for British companies to access a broader market in ASEAN, added Mr. Vuong. Over the past years, Vietnam has been pushing for improvements in the business environment  towards greater transparency and convenience for businesses, said Mr. Vuong, adding the Vietnamese government puts strong emphasis on fairness and no discrimination among different economic groups. According to Mr. Vuong, Vietnam would give priority to administrative reform to better meet growing demands from a market-based economy and the process of global economic integration. Deputy Minister of Industry and Trade Hoang Quoc Vuong. Source: MoIT. In 2019, total FDI commitment to Vietnam stood at US$38.02 billion, up 7.2% year-on-year, while the disbursed amount was estimated at US$20.38 billion, up 6.7%. Investors have poured money into 19 fields and sectors in 2019, in which manufacturing and processing led the pack with investment capital of over US$24.56 billion, accounting for 64.6% of the total, followed by real estate with US$3.88 billion or 10.2% of the total, and …

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