Wood exports

Vietnam's agro-forestry-fishery exports generated $38.48 billion revenue in January-September, down 5.1 percent year on year, according to the Ministry of Agriculture and Rural Development. Agricultural exports accounted for over half of the total, at $19.54 billion, up 17 percent year on year. Key export earners were vegetables and fruits ($4.2 billion), rice ($3.66 billion), cashew nuts ($2.61 billion), and coffee ($3.16 billion). The average rice export price reached $553 per metric ton during the nine-month period, rising 14 percent. The price of coffee exports also picked up 10 percent to hit nearly $2,500 per metric ton. Asia was the major importer of Vietnam’s agro-forestry-fishery exports with $18.71 billion worth of products in January-September. It was followed by America with $8.73 billion and Europe with $4.17 billion. China, the U.S., and Japan remained the top three import markets of Vietnam’s agro-forestry-fishery products with exports to China accounting for … [Read more...] about Vietnam fetches over $38bn in agro-forestry-fishery exports in Jan-Sep

Vietnamese labourers wait for boarding procedures at the airport. (Photo: VNA) Hanoi (VNA) – Vietnam is speeding up negotiations with Hungary in a bid to sign an agreement on sending and receiving Vietnamese labourers in the European country – an emerging market drawing great interest from labourers. Statistics from the Department of Overseas Labour under the Ministry of Labour, Invalids and Social Affairs, Vietnam has sent workers to Hungary since 2018. So far, more than 2,700 Vietnamese labourers have been dispatched to the market, with the number of workers increasing year on year, reaching 1,148 in the first nine months of 2023. The department has licenced 25 businesses to recruit and send Vietnamese labourers to Hungary. Vietnamese labourers have engaged in many sectors in Hungary, including construction, manufacturing-processing, wood processing, agriculture and hotel and restaurant services. They have enjoyed good salaries and social welfare in the country. … [Read more...] about Vietnam looks to increase labour exports to Hungary

During the period, the total export-import turnover of agro-forestry-aquatic products hit 6.9 billion USD, down 7.5% year-on-year. Of which, nearly 38.5 billion USD was from exports . In September alone, the export revenue of agro-forestry-aquatic products reached 4.8 billion USD, down 2.7% monthly and up 22% annually. China, the US and Japan remained the top three export markets of Vietnam ese farming products. The ministry said, it will continue developing both domestic and export markets, while dealing with market-related issues to create favorable conditions for the export of agro-aquatic products to China, the US, the European Union and the Eurasian Economic Union. It will also help exporters make full use of free trade agreements as well as help firms secure new export contracts, protect trademarks and provide geographical indication for Vietnam's potential export products in foreign markets./. VNA … [Read more...] about Agro-forestry-fisheries sector posts 22.5% rise in trade surplus

Vietnam sent over 56,800 labourers to work abroad in the first seven months of 2022 (Photo: VietnamPlus) Hanoi (VNA) – Vietnam sent over 56,800 workers, including 21,238 females, abroad to work under labour contracts over the first seven months of 2022, equivalent to 63.2 percent of the target set for the year. According to data from the Ministry of Labour, Invalids and Social Affairs (MoLISA), Japan, Taiwan (China) and the Republic of Korea (RoK) remained the largest recipients of Vietnamese labourers during the reviewed period. With the number of workers going to work abroad continuing to remain stable, Vietnam’s plan to send 90,000 labourers to work abroad this year is completely feasible, the ministry said. Due to the impact of COVID-19, last year, Vietnam completed only 50 percent of its yearly target in labour export with 45,058 workers sent abroad. Thanks to wide-scale vaccination against COVID-19 and the changes in pandemic control strategies towards … [Read more...] about Over 56,800 Vietnamese labourers sent abroad in 7 months

During the January – September period, Vietnam exported some 259.67 billion USD worth of products, a year-on-year fall of 8.2%. Meanwhile, the country's imports totaled 237.99 billion USD, down 13.8% year on year. Regarding the structure of exported goods in the period, processed goods accounted for 88.3% of the total export value, with 292.22 billion USD. As for imported goods, materials for production made up 93.7% of the value, with 223.08 billion USD. The U.S. was the largest export market of Vietnam with 70.9 billion USD, while China was the largest import market of the Southeast Asian country with 79.1 billion USD. According to the Ministry of Industry and Trade, the drop in Vietnam’s exports was attributed to slow recovery of the global economy, falling demand and high interest rates in developed countries such as the U.S., E.U. nations and China, coupled with a tightened monetary policy and high levels of inventory. The ministry will continue to keep a close watch on … [Read more...] about Vietnam posts trade surplus of 21.68 billion USD in nine months

An example of a SkyX Solar collaboration with An Phat At a seminar from September 12 to 17, held by the World Sports Goods Industry Federation and the Vietnamese Delegation in Geneva, distinguished brands like Adidas and Decathlon spotlighted Vietnam's crucial role in sustainable manufacturing, praising its robust workforce and rapid assimilation of advanced technologies. Leveraging its National Strategy for Green Growth 2021-2030, Vietnam is making substantial strides towards its sustainable development goals, with an emphasis on evolving its textile and footwear industries by 2035 to align with a circular economic model. This commitment resonates deeply with international sustainability standards, enhancing Vietnam's influence in the sustainable supply chain sector. The role of green certificates – which are emblematic of sustainable and responsible production and the use of renewable energy – is becoming increasingly crucial in today’s market. These certificates are … [Read more...] about SkyX Solar steers sustainable shifts with green IZ and certification in Vietnam

Vietnam's gross domestic product growth accelerated in the third quarter from the previous three months, data showed on Friday, but fell short of this year's growth target as dull demand for exports overshadowed support from monetary easing. GDP in the July-September quarter is expected to have grown 5.33% from a year earlier, faster than the 4.05% expansion in the second quarter, the General Statistics Office said in a report on Friday. Capital Economics said the worst for Vietnam's economy was over but growth remained subdued by past standards. With inflation becoming a growing concern, however, it did not expect a further rate cut from the central bank. The third-quarter figure was much slower than growth of 13.71% in the same period of 2022, when its manufacturing-led economy managed a post-pandemic pickup following a 6% quarterly contraction in 2021. Factory powerhouse Vietnam is targeting growth of 6.5% this year, down from 8.02% last year, but most economists expect … [Read more...] about Vietnam sees Q3 GDP growth capped by weak external demand

The country’s economic growth hit 5.33% year-on-year in the third quarter. Vietnam’s GDP in the first nine months expanded by 4.24% year on year, data from the General Statistics Office (GSO) showed today [September 29]. Data: GSO. Chart: Hai Yen/The Hanoi Times For the third quarter of this year, the country’s economic growth reached 5.33% compared to the same period last year. This growth rate only exceeds the figures for 2020 and 2021, which were significantly affected by the Covid-19 pandemic, but is still seen as a “positive trend”. Growth in the first quarter was a modest 3.28%, while the second quarter saw a slightly higher growth rate of 4.05% . Over the entire nine-month period, the GDP  grew by 4.24%, the lowest growth in 13 years during a time when the pandemic affected the economy. For 2023, the Government has set an ambitious target of 6.5% GDP growth, while the economy grew 8.85% last year . The primary driver of the economy … [Read more...] about Vietnam’s GDP growth expands by 4.24% in a 9-month period

In September alone, there were 12,684 new enterprises with total registered capital of 117.2 trillion VND. (Photo: VNA) Hanoi (VNA) – As many as 116,300 enterprises registered for establishment, up 3.1% year on year, with combined registered capital of 1,086.8 trillion VND, down 14.6% year on year, in the first nine months of 2023, the General Statistics Office (GSO) reported on September 29. In the January-September period, 48,900 enterprises resumed their operations, a year-on-year decline of 3.2%, raising the total number of newly-established businesses and firms resuming operations to 165,200, up 1.2% year on year. In September alone, there were 12,684 new enterprises with total registered capital of 117.2 trillion VND (4.8 billion USD) and 80,000 labourers, up 10.6% in the number of enterprises, down 13.9% in terms of registered capital and up 29.3% in the number of employees compared with the same period. Meanwhile, 46,100 businesses stopped their … [Read more...] about Up to 116,300 enterprises established in nine months: GSO

A farmer harvests oil palm fruit at a plantation in Kuta Makmur, Aceh. (Photo: AFP/VNA) Jakarta (VNA) – PGN, a Pertamina subsidiary, and three Japanese companies are looking to produce biomethane from palm oil mill effluent (POME) to meet rising natural gas demand and reduce methane emissions, reported the Jakarta Post. The consortium of PGN, JGC Holdings Corporation, Osaka Gas and Inpex Corporation is currently working on a study for the commercialisation of such a product in Indonesia in 2025, using PGN’s natural gas distribution network. The raw material will come from oil palm plantations in South Sumatra. The project aims to recover methane gas released into the atmosphere from POME, refine it into biomethane and supply it to customers via natural gas pipelines and other existing infrastructure. According to the US Environmental Protection Agency, untreated POME releases methane, which is more than 25 times as potent as carbon dioxide at trapping heat in the … [Read more...] about Indonesia to make biomethane from palm oil in 2025