Chinese fishing nets – Talk Vietnam

March 5, 2021 by dtinews.vn Leave a Comment

Over 41,000 young fish released to the Huong River

Authorities in Thua Thien-Hue Province have released over 41,000 young fish into the Huong River.

The Thua Thien-Hue Provincial Department of Agriculture and Rural Development said that the event, which was held on March 4, aimed to increase local aqua resources and raise public awareness on protecting aqua resources in the area.

The event attracted the participation of various organisations, agencies, enterprises and local people. The fish were of different kinds including carp, barb, and catfish.

The department said that they will organise more fish releasing events this year. It is expected that over 570,000 young fish will be released on Tam Giang Lagoon.

Besides, more than 3,000 shrimps will be released to local sea.

March 4, 2021 by sggpnews.org.vn Leave a Comment

Many solutions to prevent network congestion on HoSE

Meanwhile, on the Hanoi Stock Exchange (HNX), the HNX-Index made a breakthrough of nearly 3 percent. At the end of the trading session, the VN-Index inched up by 0.34 points, or 0.03 percent, to close at 1,186.95 points, with 270 gainers, 168 losers, and 64 unchanged stocks. The HNX-Index jumped 6.16 points, or 2.48 percent, to 254.1 points, with 137 gainers, 66 losers, and 57 unchanged stocks.

Foreign investors continued to net sell nearly VND500 billion on the whole market. Of which, they net sold VND470 billion on the HoSE. Liquidity remained at a high level with a total trading volume of 819 million shares, worth more than VND18.1 trillion. Of which, put-through transactions accounted for nearly VND1.77 trillion.

The stock market traded with caution from investors after the new General Director of the HoSE Le Hai Tra spoke in the media about a solution to prevent network congestion, which possibly is to raise the minimum round lot from 100 shares to 1,000 shares to reduce the load for the trading system.

According to the HoSE’s calculations, increasing the round lot to 1,000 shares can reduce the total number of trading orders by 40-50 percent, at the same time, it can pave the way for new heights of market liquidity.

Mr. Tra said that that might only be a temporary solution to solve the current network congestion situation. In the future, when the new stock trading system comes into operation, there will be an odd-lot board, and it is also possible to return to the current round lot of 100 units. However, this opinion faced considerable opposition from investors because it will make it difficult for investors, especially small investors. Because they will have to spend 10 times as much as currently to buy stocks on the HoSE.

Another solution to prevent network congestion for the HoSE is to transfer some stocks from the HoSE to the HNX, the State Securities Commission (SSC) has just sent documents to the HoSE, the HNX, and the Vietnam Securities Depository (VSD) on this.

Accordingly, the SSC requested the HNX to promptly accept and receive listed companies from the HoSE, without reviewing their records following the new listing process. The transaction mechanisms, transaction supervision, listing management, reporting, and information disclosure will be applied the same as companies listed on the HNX. The HoSE and the HNX will cooperate in supervising transactions for these stocks to ensure continuity of supervision.

Noticeably, the SSC stated clearly that shares of transferred companies, which are currently in the set of the VN-Index indicators of the HoSE will be removed from the set of HoSE indicators during the temporary transfer to the HNX. At present, SSC will temporarily not consider transferring the shares of companies currently in the VN30-Index.

The SSC also requested the HNX, the HoSE, and the VSD to urgently handle the issue so that enterprises can transfer the transactions of their shares similarly to the listing transfer cases that have been carried out so far. This mechanism will be applied from March 3 this year.

By Nhung Nguyen – Translated by Thuy Doan

March 5, 2021 by vietnamnet.vn Leave a Comment

E-commerce platforms help “rescue” agricultural products

E-commerce platforms are effective tools that can help farmers reduce losses when there is an oversupply of produce and sales are slow.

Lên sàn giải cứu, đưa nông sản đến tận tay người mua

In Gia Loc district in Hai Duong province on March 2, the roads were very quiet even though in a few hours the social isolation order would expire (at 0:00 on March 3).

Somewhere in the fields were farmers who were still doing their daily work. For them, their fields must be taken care of every day.

With more than 93,000 hectares of agricultural land, accounting for 56.5% of the total area, Hai Duong is among provinces with a large agricultural production area. Its main agricultural products are vegetables, fruits, livestock and poultry.

Before the pandemic, the biggest difficulty for local farmers was the connection between producers and consumers. During the pandemic, because of the blockade and restriction of means of travel, the difficulties multiplied.

Born into a family with a farming tradition, like many previous generations, the life of Mr. Do Van Chung (a resident of Quang Bi village, Pham Tran commune, Gia Loc district, Hai Duong) has been associated with the field.

Chung’s family grows vegetables such as kohlrabi, cabbage, cauliflower, gourd, squash, melon and others, with an average output of about 2 tons per acre and yield VND7-8 million ($300-400) per acre each year.

As Hai Duong was under isolation, the transport of farm produce from Hai Duong to other provinces was affected. Earning his living by cultivating vegetables for many years, Chung complained that he has never faced such difficulties. In previous years, he harvested 4 tons of cabbage and earned VND14-16 million from two sao (1 sao = 360m2) of cultivation area. But he cannot find buyers and is not sure if he can earn VND2 million from each sao.

Mr. Phung Danh Ut, the owner of Ut Them organic melon garden in Gia Loc district, was luckier than Chung as he had signed a melon sales contract with a local agricultural cooperative.

In addition to growing melons in a net house, the farmer also grows kohlrabi and cabbage. Though he was able to sell his agricultural produce, his profit dropped because the prices of agricultural products this year are not as good as in previous years, and consumption is also sluggish.

To solve the problem, Hai Duong provincial authorities decided to utilize IT to boost the distribution of products. Some groups have been set up on Zalo, with the participation of farmers and businesses inside and outside the province. Farmers can advertise their products on these groups to find buyers. Thanks to these “bridges”, hundreds of tons of vegetables, fruits and poultry in Hai Duong have been sold to the market.

In order to fully solve the problem of Hai Duong’s agricultural produce, a delegation of Viettel Post Corporation led by General Director Tran Trung Hung paid a field visit to Hai Duong to observe the consumption of agricultural products in the area.

Based on its strong delivery services, Viettel Post is trying to help Hai Duong farmers to change the way of selling their products by using digital technology. This can be performed through its Voso e-commerce platform.

Viettel Post uses a smart logistics system which delivers vegetables directly to consumers within a short time after harvesting to ensure the freshness of produce.

The consumption of agricultural produces in this way will help stabilize the output for the farmer. The value that farmers receive will also be higher thanks to direct access to the end users. This is considered the most effective solution to solve the root of the common “problem” for Vietnamese farmers.

Trong Dat

March 5, 2021 by en.vietnamplus.vn Leave a Comment

Insiders make suggestions to maintain sustainable export growth

Tra fish processed for export (Photo: VNA)

Hanoi (VNA) – Vietnamese enterprises should take advantage of online marketing channels, re-arrange production and business orientations and strategies, and bring into full play advantages brought by free trade agreements if they want to achieve sustainable export growth , according to insiders.

Statistics of the Ministry of Industry and Trade (MoIT) shows that Vietnam’s import-export value reached 95.8 billion USD in the first two months of 2021, up 24.5 percent year-on-year. Of the total, exports were valued at 48.55 billion USD, up 23.2 percent, and imports 47.26 billion USD, up 25.9 percent.

During January-February, Vietnam enjoyed a trade surplus of 1.29 billion USD, down from the 1.8 billion USD seen in the same period last year. The domestic sector posted a trade deficit of 4.14 billion USD, while the FDI sector, including crude oil, saw a trade surplus of 5.43 billion USD.

At the Government’s February regular meeting, MoIT Minister Tran Tuan Anh set a target of 4-5 percent in export growth in 2021.

To that end, MoIT Deputy Minister Cao Quoc Hung said that the ministry is considering a new strategy on import-export activities in the coming time to be submitted to the Prime Minister for issuance.

In addition, the ministry will continue engaging in negotiations and perfecting relevant institutions on free trade agreements (FTAs), including issues related to the rule of origins so as to help business better optimize advantages of the agreements.

It will also consolidate and expand export markets, bring into full play opportunities brought about by existing FTAs, diversify import and export markets, diversify exported products, increase the competitiveness of exported products, and develop brands so as to achieve sustainable export development, Hung added./.

VNA

March 2, 2021 by en.vietnamplus.vn Leave a Comment

Trade surplus from agro-forestry-fisheries hit 1.37 billion USD in two months

Illustrative image (Source: VNA)

Hanoi (VNA) – Import-export value of agro-forestry-fisheries products hit nearly 11 billion USD in the first two months of 2021, resulting in 1.37 billion USD in trade surplus, up 28.4 percent year on year, according to the Ministry of Agriculture and Rural Development (MARD).

The ministry reported that a year-on-year rise was recorded in the export value of many products such as rubber , tea , cashew, vegetables and fruit and forestry products.

In the first two months of this year, the US remained the largest market of Vietnamese agro-forestry-fisheries products with 2.04 billion USD, up 57.3 percent year on year and accounting for 33.05 percent of the market share. It was followed by China, ASEAN, the EU, Japan and the Republic of Korea.

The export value of aquatic products reached 405 million USD in February, pushing the figure in the first two months of 2021 to over 1 billion USD, up 2.2 percent over the same period last year, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).

According to the association, exports of tra fish saw positive signals since the beginning of this year after consecutive drops in 2020, with a 1.7 percent rise in the first two months of 2021 to 214 million USD.

In January, excepting for China and the EU, upturn was seen in the majority of markets of Vietnamese tra fish, including the US with 51 percent, Mexico 73 percent, Australia 45 percent and Canada 42 percent. Other markets such as Brazil, Colombia, the UK and Russia also experienced an increase of 37-129 percent.

Meanwhile, shrimp export in February was estimated at 160 million USD, down 18 percent year on year, resulting in over 380 million USD in the first two months of 2021, a slight annual fall of 0.8 percent.

At the same time, seafood exports rose 31.4 percent to 264 million USD in January but dropped 21 percent to 156 million USD in February, resulting in the two-month export value of 420 million USD, up 5.5 percent.

The VASEP said that in the first two months of this year, exports of Vietnamese aquatic products were affected by demands of markets amidst COVID-19 pandemic.

The association forecast that aquatic export value in March will reach about 640 million USD, up 1.5 percent over the same period last year thanks to high demand in the US, EU and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)./.

(VNA)

February 6, 2021 by vov.vn Leave a Comment

Local wood industry to capitalise on export opportunities to US

According to data released by the United States International Trade Commission, during the opening 11 months of last year, the US’ imports for wooden furniture endured a decline of 0.6% to US$16.8 billion compared to the same period from 2019.

Vietnam remained as the largest supplier of wooden furniture to the United States throughout the reviewed period, with the export turnover reaching US$6.26 billion, a rise of 30.9% on-year.

The proportion of imports from the country accounts for 37.2% of the total import value, up 9% compared to last year’s corresponding period.

Most notably, Vietnam is the largest market for bedroom furniture for the US, making up 49.7% of the US’ total import value, followed by Malaysia, China, and Indonesia.

Nguyen Liem, chairman of Lam Viet Joint Stock Company, attributed this increase in US demand for wooden furniture to the impact of the novel coronavirus (COVID-19) pandemic as it has forced many Americans to remain indoors and focus on activities such as renovating their homes and purchasing new furniture.

He emphasised that Vietnamese wood brands in the US market have significantly improved in recent years due to American people being willing to purchase Vietnamese wooden furniture at more expensive prices over similar products from the Chinese market.

Do Xuan Lap, chairman of the Vietnam Timber and Forest Products Association, pointed out that the wood industry’s strategic export products in the US market will be kitchen cabinets and bathroom cabinets.

Due to this, Lap advised local firms to be aware of market changes and appropriate product strategies, while enhancing their competitiveness to deeper penetrate into the global supply in order to increase exports to the demanding market.