The mekong delta is a the largest of the two

Border guards of Ca Mau province examine a fishing vessel. (Photo: VNA) HCM City (VNA) – In efforts to persuade the European Commission to lift the “yellow card” warning, localities in the Mekong Delta have been taking strong and concerted measures to eradicate illegal, unreported and unregulated (IUU) fishing and help the fisheries sector develop sustainably. In Soc Trang province, the Sub-department of Fisheries said it has coordinated with the provincial Department of Information and Communications to step up checking vessel monitoring systems (VMS) installed on fishing boats and asked VMS suppliers to make timely repair if there are any breakdowns. So far, all fishing vessels over 15m long in Soc Trang have been equipped with smoothly operating VMS. The province’s Border Guard Command has also ordered local border guard posts to intensify the dissemination of the 2017 Law on Fisheries and others to fishermen. As a result, 368 vessels operating in deep-sea … [Read more...] about Localities in Mekong Delta augment efforts against IUU fishing

Farmer weaves lotus silk in the Mekong Delta province of An Giang. — VNA/VNS Photo The International Union for Conservation of Nature Viet Nam (IUCN) in cooperation with An Giang Province in the Mekong Delta has launched a project on developing a sustainable value chain of products from lotus silk, with the financial support of The Coca-Cola Foundation (TCCF). The organisation has recently held a workshop to introduce the project to relevant stakeholders, focusing on the role of flood-based agriculture, the value chain for flood crops such as lotus and, in particular, the added value that can be developed from lotus silk. The project's goal is to promote flood-based livelihoods using lotus cultivation to support flood retention areas and restore some of the four billion cubic metres of water retention that was lost between 2000 and 2011 in the Mekong Delta. It will develop lotus silk making as a sustainable occupation for local communities, especially women. The project … [Read more...] about An Giang seeks to develop value chain of products from lotus silk

According to the International Monetary Fund (IMF), Vietnam's GDP based on purchasing power parity (PPP) stood in 25 th position globally in 2022, ranking just below countries such as Australia, and Poland. Specifically, Australia's reached approximately $1.63 trillion, securing 20 th position worldwide, while Poland's stood at around $1.64 trillion, placing it 19 th . The IMF also estimates that by 2023, Vietnam is expected to secure fourth position in Southeast Asia with a forecast GDP PPP of approximately $1.45 trillion. Looking further ahead, by 2026, Vietnam is estimated to have surpassed Thailand, propelling it to the second spot in the region with a figure of around $1.87 trillion. By 2028, Vietnam's economy is anticipated to have reached approximately $2.21 trillion, placing it among the top 20 economies globally. The top 20 economies in 2028, according to the IMF, are predicted to include China, the United States, India, Japan, Germany, Indonesia, Russia, … [Read more...] about Vietnam projected to become 20th largest global economy

Ambassadors from ASEAN member states take a tour around the ASEAN Trade Fair as part of Seoul Food 2023, one of the largest food exhibitions in Asia, at KINTEX in Goyang, Gyeonggi Province, on May 30.(Photo courtesy of ASEAN-Korea Centre) Seoul – The ASEAN-Korea Centre (AKC) on May 30 opened an ASEAN Trade Fair in the framework of the Seoul Food 2023 (SF2003) to showcase food and beverage products from ASEAN countries and create opportunities for ASEAN companies to connect and establish business partnerships with partners from the Republic of Korea (RoK). In his remarks at the opening ceremony, AKC Secretary General Kim Hae-yong said that since 2009, the centre has organised many trade fairs and seminars to assist ASEAN's small and medium enterprises (SMEs) in finding their way into the Korean market, contributing to promoting vibrant trade activities between the two regions. A seminar on capacity building and enhancing value of ASEAN-Korea food was also held within the … [Read more...] about ASEAN, RoK boost business ties in food, beverage

Vietnam’s services sector remains a bright spot, partially offsetting some external weakness, according to a report released by HSBC Vietnam on May 31. Illustrative image (Source: VNA) The report, themed “Vietnam May data: Still a long way to go,” said while Vietnam’s May trade data points to no further deterioration, there is still a long way to see a meaningful rebound in its trade cycle. Exports slightly fall According to the report, exports fell 5.8% year on year in May, a slower pace than the market expected, but with lingering broad-based weakness. None of the major categories, including electronics, machinery, textiles/footwear and wooden furniture showed signs of a meaningful rebound. Data as of April 2023 suggests substantial falling shipments in Vietnam’s three largest exporting destinations - US, China and the EU. In particular, with a hefty share of 30%, Vietnam is particularly sensitive to a US economic slowdown. Despite exports falling by … [Read more...] about Vietnam’s services sector remains a bright spot: HSBC

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

Customs officials checks the transportation of goods at Huu Nghi International Border Gate via a digital border gate platform. — VNA/VNS Photo Anh Tuan Smart border gate control should be launched to prevent congestion and facilitate cross-border trade in farm products between Viet Nam and China. The proposal was raised at the working session between Viet Nam Ministry of Agriculture and Rural Development and China’s Guangxi Province on Tuesday on measures to promote the trade exchange of farm produce between the two countries. Guangxi was the largest gateway for agricultural exports from Viet Nam to China. Statistics of the China Customs showed that around US$350.4 million worth of agricultural products was imported to China via border gates with Guangxi Province in the first four months of this year, accounting for 19.7 per cent of Viet Nam’s total agricultural exports to China. According to Nanning Customs, the peak harvest seasons for fruits such as durian and mango are … [Read more...] about Smart border gate control proposed to facilitate trade of farm produce with China

At the signing ceremony. — Photo hanoimoi.com.vn The Republic of Korea's conglomerate DB Group on Tuesday announced it has signed a memorandum of understanding (MOU) on business cooperation with Viet Nam's T&T Group. The two have agreed to share their infrastructure and know-how in Viet Nam, and to enhance mutual synergy through various collaborations. T&T Group, established in 1993, is a leading Vietnamese company engaged in various businesses, including financial services, energy, trade and real estate. It has over 200 subsidiaries and employs around 80,000 people. DB Group's Viet Nam business is led by DB Insurance. Its property and casualty insurance unit was established in 1984. DB Insurance made a leap forward in Viet Nam's market by acquiring PTI Insurance in 2015, becoming the third-largest insurance company in terms of market share in the Southeast Asian country. — VNS … [Read more...] about Vietnam’s T&T Group, RoK’s DB Group seal cooperation deal