Hanoi (VNA) – Vietnam’s agriculture sector gained a trade surplus of nearly 2.9 billion USD in the first quarter of 2020, up 48.9 percent from a year earlier, according to the Ministry of Agriculture and Rural Development. During the three-month period, the sector achieved a total trade value of approximately 15.2 billion USD from horticultural, forestry and aquatic products, with exports worth 9.06 billion USD, equal to the same period last year; and imports of about 6.2 billion USD, down 13.2 percent. Exports of key horticultural products declined 3.1 percent year-on-year to 4.2 billion USD. A similar trend was witnessed in exports of main forestry products (2.8 billion USD, down 16.13 percent), aquatic products (1.5 billion USD, 14 percent) and livestock products (109 million USD, 21.8 percent). However, several items maintained growth, including rice, cassava, and wood and timber products. The country exported 1.7 million tonnes of rice from January – March for … [Read more...] about QI agriculture posts nearly 49 percent growth in trade surplus
Why agriculture is important in indian economy
According to the World Bank’s East Asia and Pacific Economic Update April 2020, Viet Nam is strongly positioned to benefit from numerous free trade agreements that are coming into force over the forecast period. In the first two months, its exports have expanded by 8%, FDI inflows amounted to US$2.5 billion and retail sales were up by 5.4%, the bank said, noting that while prospects remain favorable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the recent coronavirus outbreak, now a global pandemic. The WB cited preliminary estimates as suggesting that the rate of expansion of the economy could decline to about 4.9% in 2020. Over the medium term, growth is projected to rebound back to 7.5% in 2021 and converge at around 6.5% in 2022, reflecting an improved external demand and a firming of the services sector, as well as a gradual recovery in agricultural production, the WB added. It also suggested Viet Nam manage external risks by … [Read more...] about WB: Vietnam’s economy stays resilient to external shocks
The program is expected to benefit 892,000 rice farmers who have registered with the Thailand Ministry of Agriculture and Cooperatives. The aim of the program is to ensure that the rice price brings reasonable profits to farmers despite price fluctuations. … [Read more...] about Thai policy on rice subsidy is double-edged sword for Vietnam
Supermarkets (except for those with entertainment services or on-site dining); trade centres (including supermarkets as above, hospitals); traditional markets (including stalls selling food, fruit and vegetables, dried food); convenience stores, mini supermarkets (except for those with on-site catering); grocery stores. Tourist accommodation; agricultural, food, medicine supply chains; healthcare services. Postal services; banking services, electronic payment companies; television and telecommunications services; security services. Petrol stations, funeral services, cemeteries, cremation; detoxification establishments, social protection establishments. People are still required to wear masks and keep a distance of at least two metres when visiting these places and follow other instructions by the Ministry of Health on hygiene and disinfection. … [Read more...] about Which businesses will remain open during national social distancing?
"Some SMEs have cash cycles that only allow them to survive for three months. This means some of them will inevitably be shaken out of the market. Nevertheless, from a macro standpoint, this is the price the economy needs to pay for businesses to improve, become more sustainable, and develop buffers against crises." … [Read more...] about Businesses find opportunity in Covid-19 pandemic