Us trade surplus

The Hanoitimes - The US, EU and member countries of the CPTPP would continue to be in the focus for Vietnam’s seafood exports, thanks to preferential treatment from the deal and strong demand. Despite a decline of 19% year-on-year in Vietnam’s seafood export turnover in February, the country’s total in the first two months surpassed over US$1 billion, representing an increase of 2.2% year-on-year. Frozen catfish at Go Dang company, located at My Tho Industrial Park. Photo: Hung Viet In the first two months of 2021, catfish and shrimp continued to be the two spotlights of Vietnam’s seafood exports with corresponding turnovers of US$214 million and US$380 million, accounting for 21.4% and 38% of total exports, respectively. A report from the Vietnam Association of Seafood Exporters and Producers (VASEP) noted there have been a growing demand in the global market for affordable seafood products with long expiration date and easy-to-cook at home. Vietnam’s fishing sector has also received welcome news in early 2021 as the US Customs and Border Protection (CBP) decided to revoke anti-dumping charge of 10% on shrimp products exported to the US from Minh Phu Seafood Corporation. VASEP suggested the local shrimp products could further take advantage from Vietnam’s existing free trade agreements, especially the EVFTA that ensure a 0% import duty for shrimp exported to the EU. In January, Japan became Vietnam’s largest seafood buyer with US$112.2 million, down 13.5% against the previous month but up 26.5% year-on-year, followed by the US with US$109.8 million. Vietnam was the 7th largest seafood supplier for the US in 2020 with 228,900 tons, up 1.8% year-on-year. Given a favorable short-term outlook for seafood exports, VASEP expected the export in March to rise by 1.5% year-on-year to US$640 million, in which the US, EU and markets under the CPTPP would continue to be in the focus, thanks to preferential treatment from the deal and …

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Unilersal Alloy Corporation Vietnam Ltd. has a high quality human resource recruited from the University of Da Nang. Photo: X.Quynh In this aspect, Da Nang can offer many favorable conditions and advantages due to its open policies and skilled human resource. Favorable conditions Mr. Pham Truong Son, Head of  Da Nang Hi-Tech Park and Industrial Zone Authority, said that in such difficult times with the Covid-19 pandemic raging across the globe, attracting investors to large projects is quite challenging. Hence to overcome the tedious process of administrative procedures and access to land funds, it is important to build supportive mechanisms and policies, so as to attract important and lucrative projects. Da Nang has therefore implemented several measures to ease long and lengthy procedures in many related departments and agencies to quickly and smoothly complete all processes and procedures. These could likely be effective within the next six months. According to Mr. Nguyen Tien Quang, Director of the Vietnam Chamber of Commerce and Industry in Da Nang,  the City of Da Nang will need to replicate the same good practices it used to speed up implementation of projects such as the Sunshine Aerospace Components Factory, Mikazuki Spa and the Hotel Resort Xuan Thieu. Mr. Quang shared that this was due to streamlining the lengthy process of filing too many applications by going online, which was faster, more transparent, and cut down on costs. Mr. Lee Sungnyng, General Director of Korea Trade-Investment Promotion Agency (KOTRA) in Da Nang, said that the outbreak of the Covid-19 pandemic in Da Nang has created many opportunities for the government to listen to the voice of business people and investors, and implement their considerations carefully. In 2020, the city had conducted hundreds of online meetings concerning exports and future investments, which resulted in many successful commitments made between Korean and Vietnamese companies. Mr. Sungnyng said …

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Mobile power plant in Indonesia Seamless digital connectivity Digitization was already on most leaders’ radars before the pandemic, but now it is even more essential. To support trade and supply chains, we need to build a seamless digital infrastructure that allows knowledge, approvals, permits, and licenses to flow quickly across borders, thereby reducing cycle times and costs. This will require collaboration from the public and private sectors in areas such as financing, policy articulation, and implementation of the necessary digital infrastructure. This was emerging before the pandemic and has only gathered steam since. Partnerships More resilient supply chains can be achieved through increased global partnerships. On the healthcare front, last year when there was significant demand for ventilators, GE Healthcare secured off-license approval for the use of existing anesthetic machines as emergency ventilators in Australia. This immediately added approximately 1,500 emergency ventilators to the national inventory. We could not have accomplished this without partnerships with health and regulatory authorities. In Indonesia, during the depths of the pandemic, we were able to deliver our advanced HA gas turbine technology to the Java One project on schedule. We did so by staying close to partners and while following the strict protocols and procedures onsite to ensure safety. This project is critical for the country: it is eventually expected to add more than 1.7 gigawatts of electricity to the national grid, equivalent to supplying to 11 million homes in Indonesia. Partnership will also be crucial in sparking the next supply chain innovation – perhaps in the digital sphere. We see this sentiment reflected in the recently released GE Global Innovation Barometer . It found that 86 percent of senior executives polled in 10 countries around the globe believe increasing partnerships across countries, industries, and sectors would help drive …

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