Vietnam export data

Consumers in the UK have been increasingly keen on Vietnam’s rice, especially after ST25 was honored as the best rice variety in the world in 2019, Nguyen Canh Cuong, trade counselor at the Vietnamese Embassy in the UK, told Tuoi Tre (Youth) newspaper. UK companies have paid much attention to Vietnam’s rice due to a higher demand in their country and incentives in the UK-Vietnam Free Trade Agreement (UKVFTA). In particular, the UK has waived the import tariff on Vietnam’s fragrant rice instead of imposing a 17.4-percent tax rate as earlier. Vietnam’s rice value on the rise According to statistics from the Vietnam Trade Office in the UK, the European country’s rice imports from Vietnam rose in 2020 and 2021. In 2020, before the UKVFTA took effect, Vietnam’s rice exports to the UK surged to some 3,400 metric tons worth US$2.67 million from nearly 1,300 metric tons in the previous year. Vietnam’s rice exports to the UK fell 20 percent in volume but inched up four percent … [Read more...] about Vietnam’s rice increasingly preferred in UK

Illustrative image (Photo: VNA) Hanoi (VNA) - HSBC experts have predicted that Vietnam's economy will continue to gain traction, despite a less rosy external picture. According to the bank, Vietnam saw a year-on-year increase of 17% in exports in the first six months of 2022, but it will be hard for overseas shipments to meet expectations in the last half of the year. In its "Vietnam at a glance" report released on August 17, the bank said that after impressive export growth in the first half of 2022, a slower-than-expected pace was recorded at the start of the second half. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung's second-quarter results show that demand for consumer electronics is weakening, affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered … [Read more...] about Vietnam’s economy continues to gain traction: HSBC

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s fruit export turnover is expected to top 5 billion USD by 2025 and about 6.5 billion USD by 2030. fruit trees , including dragon fruit, mango, banana, litchi, longan, orange, grapefruit, pineapple, rambutan, durian, jackfruit, passion fruit, avocado, and custard apple. planting area of fruit trees nationwide to 1.2 million by 2025 and 1.3 million by in 2030, with respective yields of 14 million tonnes and 16 million tonnes. export turnover in the first eight months of 2022, reaching nearly 463 million USD. It was followed by banana and durian with 237 million USD and 158 million USD, respectively./. VNA … [Read more...] about Vietnam targets over 5 billion USD in fruit export turnover by 2025

Phan Thi Hue, head of the Legal Inspection Department under the Vietnam Directorate of Fisheries, noted that the EC will not try to remove the ‘yellow card’ regarding the detection of fishing vessels encroaching in foreign waters. An EC report in May warned that it is likely to impose ‘a red card’ on Vietnamese seafood in the event that violations on fishing regulations are not handled in a quick manner. The EC has therefore highlighted Vietnamese determination and efforts to gradually reduce the number of fishing vessels violating regulations regarding IUU fishing in foreign waters located in the Pacific region. It also spoke highly of the country’s goodwill, co-operation, transparency, and honesty in providing information about the fishing vessel database, as well as issuing a legal framework in line with international standards towards sustainable and responsible fishery management and international integration. Despite this, IUU inspection missions to several localities … [Read more...] about Greater efforts aim to remove Vietnam from IUU fishing warning

This is an important basis for affirming the capacity of Vietnam’s seaports and creates a premise for shipping lines to use the country’s seaports as important links in global shipping chains. Vietnam’s seaport infrastructure has been increasingly developed in recent times, contributing to improving service quality and competitiveness. The country enjoyed a trade surplus of 3.6 billion USD in the opening month of 2023, according to the General Statistics Office. The US remained the biggest importer of Vietnamese goods in January, with revenue of some 7.6 billion USD, while China was the biggest exporter to Vietnam, with 8.1 billion USD. In 2023, the Ministry of Industry and Trade sets a target of a 6% rise in goods export revenue, with trade surplus maintained./. VNA … [Read more...] about Vietnam ranks 2nd in Asia in two-way trade by sea with US

As of the end of last year, the total outstanding loans for real estate projects in Vietnam hit over VND1,200 trillion (US$51.5 billion), according to the Ministry of Construction. Property enterprises borrowed some VND800 trillion ($34.1 billion) from banks and issued bonds worth roughly VND419 trillion ($17.9 billion) via private placement. In particular, banks offered loans worth about VND180.7 trillion ($7.7 billion) for urban area and housing projects in 2022, or 22.8 percent of the total loans for the real estate sector. In addition, loans for office for lease projects and industrial and export processing zones stood at more than VND41.8 trillion ($1.8 billion) and VND40.1 trillion ($1.7 billion), respectively. Meanwhile, investors of tourist site and resort projects asked for loans of nearly VND32.7 trillion ($1.4 billion). The figures were over VND57.5 trillion ($2.45 billion) for restaurant and hotel projects, VND144.2 trillion ($6.1 billion) for projects to build … [Read more...] about Property loans in Vietnam top $51bn in 2022

PM Pham Minh Chinh (L) and his Singaporean counterpart Lee Hsien Loong meet on the sidelines of the 40th and 41st ASEAN Summits and related meetings in Phnom Penh, Cambodia, in November 2022. (Photo: VNA) Singapore (VNA) – Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Dung said the trip follows the mutual visits by the heads of the two states in 2022, reflecting the special mutual political trust and relations between the countries. Looking back on achievements in bilateral relations, he said over the last 50 years, especially since the establishment of the strategic … [Read more...] about PM’s visit reflects special ties between Vietnam, Singapore: ambassador

Great chances for Vietnam to switch to Web 3.0 (Source: netweb.vn) Hanoi (VNA) – As more information technology businesses invest resources into Web 3.0, coupled with the large number of users and coders, Vietnam sees great opportunities in the blockchain market in the Southeast Asian region, say experts. Web 3.0 was born from the natural evolution of older generation Web tools combined with advanced technologies such as artificial intelligence (AI), blockchain, and the connection between users and the Internet. In other words, Web 3.0 is an upgrade to its predecessors: Web 1.0 and 2.0. In recent years, foreign investors have flocked to Vietnam and established investment funds specialising in blockchain. Capital inflows into non-fungible token (NFT) assets also skyrocketed from 37 million USD to 4.8 billion USD in 2021, Finder reported. Experts explained that Vietnam has about 5.9 million people, or 6.1% of the population, who have exposure to blockchain-enabled … [Read more...] about Great chance for Vietnam navigate to Web 3.0: Experts

Delegates at the 26th Meeting of ASEAN Tourism Ministers (Photo: VNA) Jakarta – Deputy Minister of Culture, Sports and Tourism Doan Van Viet has called on other ASEAN member countries to support and cooperate with each other in tourism development. Speaking at a press conference on the ASEAN Tourism Forum (ATF) 2023 in Indonesia on February 5, the official said apart from traditional markets that have experienced difficulties, ASEAN should seek new ones and adjust some policies relating to aviation connection and visas. He also suggested the bloc continue implementing tourism development strategies for 2016-2025 and adjust and update them after each meeting of ASEAN tourism ministers. Viet described culture as the core value of the regional tourism and a unique factor helping the countries attract tourists. Sharing Viet’s view, Philippine Tourism Secretary Christina Garcia Frasco also suggested the ASEAN countries come together to offer unified tourism packages. “We have … [Read more...] about Vietnam calls for ASEAN cooperation to spur tourism development

Illustrative image. Photo: VNA The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade (MoIT) has recently issued Decision No. 132/QD-BTC on the continuation of anti-dumping measures for certain imported cold-rolled (cold-pressed) steel coils or sheets from China. In accordance with Decision No. 3390/QD-BCT issued by MoIT on December 21, 2020, the anti-dumping tax rate for Chinese cold-rolled steel goods remains constant. According to this ruling, Chinese cold-rolled steel is subject to anti-dumping duty rates ranging from 4.43 per cent to 25.22 per cent, depending on the individual manufacturers and exporters. Prior to September 3, 2019, many local steel manufacturing companies filed dossiers demanding anti-dumping investigations for a variety of Chinese steel goods imported into Vietnam. The MoIT has decided to investigate the issue in line with the World Trade Organization (WTO), the Foreign Trade Management Law (FTML), and other applicable … [Read more...] about Vietnam upholds antidumping tariff on Chinese steel imports