Where are vets in high demand

High prices High prices are making Vietnamese seafood products uncompetitive in the 15 member states of the Regional Comprehensive Economic Partnership Agreement (RCEP), which came into effect this year. Tran Le Dung, First Secretary in charge of the Vietnam Trade Office in Malaysia, said that in Malaysia, Vietnamese seafood products are sold at prices higher than those of Chinese and Thai products of the same kind. The Vietnam Trade Office connected Vietnamese sellers of dried fish and tuna with Malaysian importers of these products but transactions between them failed due to price disagreement, Dung said. The trade office representative said that although it has a small population, Malaysia has a high demand for seafood, and is not only a member of the RCEP but also participates in many free trade agreements (FTAs). These factors mean that successful penetration of this market will enable Vietnamese seafood businesses to access many other markets in the bloc. Price has become … [Read more...] about High price hampers Vietnam’s seafood exports to Asia-Pacific markets

Deputy Minister of Transport Le Anh Tuan has asked the Civil Aviation Authority of Vietnam (CAAV) to promptly tackle flight delays and cancellations after latest data shows that up to 5,602 flights by domestic carriers were delayed in June (May 19 – Jun 18), accounting for 18.2%. The figure was 15.9 percentage points higher than the same period last year and 9.4 percentage points higher than may, according to the report by CAAV. The report indicates that six domestic airlines – Vietnam Airlines, Vietjet Air, Pacific Airlines, Vasco, Bamboo Airways, and Vietravel Airlines – operated total of 30,808 flights in June, up 528.7% compared to the same period last year and 18% against the previous month. National flag carrier Vietnam Airlines and low-cost airline Vietjet Air outperformed the others, running 11,106 and 12,008 flights, respectively. It showed that Vietjet Air was the least punctual with 2,885 flights delayed, equivalent to 24% of its total number of flights. Vietnam … [Read more...] about CAAV asked to tackle high rates in flight delays, cancellations

Vietnam’s seafood exports were estimated at nearly US$5.8 billion in the first half of 2022, up 40 percent compared to the same period last year, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported. Although the growth has shown signs of slowing down, seafood exports in June still brought in over $1 billion, similar to May and up 23 percent year on year. In the second quarter of 2022, the industry's sales exceeded $3.2 billion, a nearly 36 percent increase compared to the $2.4 billion recorded in the same period of 2021. Shrimp exports in the first six months topped $2.3 billion, up 33 percent year on year and accounting for 40 percent of the country’s seafood shipments. Inflation and lack of raw materials are posing challenges for local shrimp businesses, thus many firms have decided to increase the proportion of value-added shrimp and sell them to demanding markets such as Japan, the U.S., and the EU. With regard to pangasius, the country's exports … [Read more...] about Vietnam’s seafood exports near $5.8bn in January-June

Steel roll production lines at Hoa Phat Steel Sheet Co., Ltd, located in the Pho Nui A Industrial Park in the northern province of Hung Yen. Steel is one of key export products from Viet Nam to Thailand, Laos and Cambodia. — VNA/VNS Photo Vu Sinh Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade. Nguyen Thi Thu Thuy, deputy director of the Export Support Center, said that Viet Nam had many favourable conditions for exporting goods to Thailand and Laos because the three countries were close geographically, and members of various free trade agreements. To meet the demand of customers in Thailand and Laos, domestic enterprises are recommended to export goods reaching technical standards and to have import certificates from authorities. They also need to apply advanced technology in processing and preserving products to ensure the quality of … [Read more...] about VN Trade Promotion Department lauds ASEAN export opportunites

According to Berly D. Alvarez, chairman of the Philippines’s Kaunlad Lending Investors Corporation and a speaker at the 2018 Horasis Asia Meeting held recently in Binh Duong province, Vietnam’s ability to attract FDI is due to its consistent economic reform, a young and increasingly urbanized population, affordable labor, constant improvements to its business climate, and political stability. The fact that it hosted the 2017 APEC meetings highlights its regional economic integration and steadily improving business climate, he added. Vietnam has been attracting investment in infrastructure, including power projects, road and rail construction and renewable energy. Don Lam, CEO of VinaCapital, said Vietnam’s economy remains strong with 6.6 percent growth targeted next year, inflation remaining under control and manufacturing expanding. “More foreign investment is expected to flow into Vietnam in the coming time.” Pakpoom Vallisuta, chairman of The Quant Group Corporation, a … [Read more...] about Vietnam a regional FDI magnet say experts

The Vietnamese manufacturing sector ended the first half of 2022 firmly in expansion mode as a lack of disruption from the pandemic supported demand and production. Firms were also increasingly successful in efforts to hire additional staff, with the rate of job creation quickening to a new high. Increased staffing capacity enabled firms to keep on top of workloads, with backlogs reduced for the second time in the past three months. Meanwhile, the shipping of finished items to customers meant that post-production inventories decreased again in June. Further marked increases were seen in both output and new orders at the end of the second quarter, as relative market stability due to a lack of pandemic disruption enabled demand to grow. Rates of expansion were particularly pronounced in the consumer goods category. Meanwhile, the growth of new export orders quickened to the fastest pace in four months, despite some reports that shipping difficulties had limited opportunities to … [Read more...] about Manufacturing sector ends the first half of 2022 in good health

An investor watching stocks' movements at a trading floor of SSI Securities in Ha Noi. — VNS Photo Doan Tung In the first half of 2022, both market's benchmark index and liquidity plunged sharply, with the VN-Index posting a dip of over 20 per cent, making it one of the world's worst-performing stock markets. Market capitalisation lost over US$53 billion In the first six months of this year, especially from April until now, the Vietnamese stock market has witnessed a significant decline and fell below the 1,200 threshold as bottom-fishing demand was not strong enough. After six months, VN-Index plummeted by 20 per cent, while the HNX-Index recorded a decrease of 41.4 per cent year-on-year. According to China-based stock database Stockq, a drop of more than 20 per cent has made the VN-Index one of the worst-performing stock indices in the world during that period. Data from Bloomberg showed that the benchmark closed June at 1.1976 points, equivalent to a price to earning … [Read more...] about Viet Nam among world’s worst performing stock markets in first half

Chairman of Ho Chi Minh City People's Committee Phan Van Mai signs a regulation on the construction coordination of the Ring Road 3 Project in Ho Chi Minh City with leaders of three provinces of Long An, Binh Duong and Dong Nai at the conference. Regarding the investment capital, the HCMC People’s Committee submitted to the Prime Minister an adjustment of the central budget capital of VND17,146 billion (US$734.5 million) from the Ministry of Transport and allocated the unallocated central budget capital of VND 14,233 billion (US$610 million) to the provinces and HCMC for timely project implementation. Speaking at the conference, Director of Ho Chi Minh City Department of Transport Tran Quang Lam said that the People's Committees of three provinces and HCMC have directed departments, relevant agencies and units to implement component projects according to the assigned timelines under the direction of Deputy Prime Minister Le Van Thanh. Specifically, the Ring Road 3 investment and … [Read more...] about HCMC, three localities strengthen coordination to promptly implement Ring Road 3

National flag carrier Vietnam Airlines resumes services between Ho Chi Minh City and Jakarta (Indonesia) on July 2. (Photo: VNA) The first flight in months, coded VN631, departed from HCMC for Jakarta at around 9:40am, with 144 passengers on board; and the return flight took off from Jakarta’s Soekarno-Hatta International Airport at 1:50pm carrying 171 passengers. There are now regular round trips on Mondays, Wednesdays and Saturdays. This is another international destination Vietnam Airlines has relaunched air route to after the Vietnam reopened its border and lifted travel restrictions. Nguyen Minh Toan, head of Vietnam Airline’s representative office in Indonesia, said there is high travel demand between Vietnam and Indonesia, and the resumption of an air route between the two countries, with three flights per week, marked a start for the carrier before it can recover the flight frequency to seven per week like pre-pandemic. Travellers can visit its official website at … [Read more...] about Vietnam Airlines relaunches services to Indonesia