Exporters face auto enrolment for no deal customs checks

Vietnam has opportunity for exports of agricultural products In the middle of May, India, the world's second biggest producer of cereal, announced a ban on wheat exports as a part of measures to control rising domestic prices amid concerns of output being hit by a scorching heatwave. The price of wheat has jumped in the international markets resulting in an acceleration of cereal prices because in March, the government of Ukraine, one of the world's top grain exporters, banned the export of wheat, oats, and many staples which are important to the global food supply Also in March, Russia's Prime Minister on March 14 signed a decree banning the export of white and raw sugar until Aug 31, and banning wheat, rye, barley, and maize exports to neighboring Eurasian Economic Union states. Another thing that has also attracted the attention of many countries is Indonesia's decision to ban all exports of crude palm oil and cooking oil at the end of April. Although this ban lasted only … [Read more...] about Vietnam has opportunity for exports of agricultural products

The US Department of Agriculture (USDA) noted the market is fond of fragrant rice from Vietnam, including the ST25, one of the world's best rice varieties. Vietnam’s rice exports to the US surged by 71.3% during the first five months of this year, the highest increase in all major markets. Vietnam continues to be among the world's major rice exports. File photo A report from the Ministry of Agriculture and Rural Development (MARD) showed Vietnam’s rice export volume in the first half of 2022 reached 3.52 million tons for US$1.72 billion, up 16.2% year-on-year and 4.6% in value. The Philippines remained Vietnam’s largest rice buyer during the January-May period, accounting for 43.6% of the market share. Vietnam exported over 1.27 million tons of rice to the Philippines in the first five months of 2022 worth $589 million, representing an increase of 34.8% in volume and 17.7% in value on-year. Along with the Philippines, the US has now emerged as a key … [Read more...] about Vietnam’s rice exports to US surge by 71% in January-May

Advantages not fully tapped Although industrial sectors are Hai Phong's strengths, supporting industries have not developed commensurately. For example, the shipbuilding industry has almost no accompanying supporting industry, such as enterprises assembling ship diesel engines, producing boilers and ship hatch covers, painting, welding rods, welding wires, fireproofing doors, making anchor chains and marine instruments. Hai Phong prioritizes the development of mechanical industries in its long-term strategy In 2021, Hai Phong's shipbuilding industry continued to face many difficulties with slowing growth and its industrial production index falling to 23.21 percent. Despite many preferential state policies, the auto manufacturing and assembly industries have also attracted very few enterprises manufacturing parts for the supply chain. The automobile manufacturing industry in Hai Phong still maintains an average growth rate for traditional products, such as trucks … [Read more...] about Hai Phong prioritizes development of auto, shipbuilding industries

Nhập mô tả cho ảnh Jakarta (VNA) – The Agreement on the Indonesia- United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (IUAE-CEPA) is expected to boost trade and Indonesia’s investment performance with Gulf and Middle Eastern countries. The trade deal was signed by Indonesian Minister of Trade Zulkifli Hasan and Minister of Economy of the UAE Abdulla bin Touq Al Marri on July 1, on the sidelines of President Joko Widodo's working visit to Abu Dhabi. The Indonesian President positively welcomes the completion of the IUAE-CEPA, said Trade Minister Hasan in a statement. This agreement is Indonesia's entry point to the UAE, which is a hub for increasing exports to non-traditional destination countries, such as the Gulf, Middle East, Africa, and South Asia. The signing of the I UAE -CEPA is also a historic moment, as it is the first time that Indonesia has a trade agreement with a country in the Gulf region. He said he hopes that when the IUAE-CEPA … [Read more...] about New trade deal expected to boost Indonesia’s exports to Middle East

American consumers like Vietnamese long-grain fragrant rice varieties such as ST25, adjudged the world’s best in 2019, and for the last two years the U.S. has been importing it, according to that country’s Department of Agriculture. Vietnamese rice is also gaining popularity in the E.U. In June, 500 tons of ‘Com Vietnam rice’ was exported to Germany, the Netherlands and France for the first time. It was sold at Carrefour in France, the biggest hypermarket chain in Europe. Rice was among nine agricultural items whose exports in the first five months of this year topped US$1 billion, with coffee, rubber and cashew being some of the others. But Vietnamese rice faces challenges since competitors Thailand and India sell their products at lower prices after their currencies depreciated. Thailand’s 5 percent broken rice has seen prices fall by 6 percent from a month ago to $420-425 per ton. Prices in India are now at $355-360 compared to $418-423 in Vietnam. Vietnam is … [Read more...] about US fastest growing market for Vietnamese rice: ministry

Workers loading bags of rice at a warehouse. In the first five months, rice exports hit 2.77 million tonnes, up 6.6 per cent year-on-year, raking in $1.35 billion. — Photo doanhnhantrevietnam.vn The disruption of global wheat supply caused by the Russian military operations in Ukraine has left importers no choice but to seek substitution for the grains in rice-exporting countries, boding well for Vietnamese rice. Vietnamese rice has been increasing steadily in price in recent months, surpassing Thai rice and leaving many other countries’ rice far behind. Vietnamese high-quality varieties of rice rose by US$10-15 per tonne in June, with common white rice reaching $430-440 per tonne, Jasmine rice $540-550 per tonne and Number 5451 white rice $480-490 per tonne. In the first five months, rice exports hit 2.77 million tonnes, up 6.6 per cent year-on-year, raking in $1.35 billion. Of which, the volume of rice exported to leading trade partners rose considerably. Specifically, … [Read more...] about Wheat shortages bode well for Vietnamese rice

The third session of the 15th National Assembly Export-import turnover rises nearly 23 percent According to the report, Vietnam fulfilled seven out of 12 key targets for 2021, with total export-import turnover increasing by 22.6 percent and trade surplus reaching US$4 billion. So far, Vietnam is one of the top six countries in terms of COVID-19 vaccination coverage. Macroeconomic stability has been maintained, major economic balances ensured, and inflation brought under control. However, input prices, especially gasoline and oil, have risen sharply, while the shortage of human resources has affected trade and production activities. Export turnover is dependent heavily on foreign-invested enterprises, while stock, corporate bond and real estate markets are potentially risky. Vu Hong Thanh, chairman of the National Assembly’s Economic Committee, presented a verification report on this issue, praising the results in the context of unprecedented difficulties and challenges … [Read more...] about Government focuses on rapid, sustainable socioeconomic recovery

The 29-year-old works in Hanoi’s flood-prone Cau Giay District. "After it flooded twice, I’m scared and have to check my weather app every day to make sure to return home early if it forecasts rain," she says, describing her experience of getting caught in the recent rainstorms as a "nightmare." The ride between home and office used to take 15 minutes, but these days it takes over one hour. In late May her bike broke down in the middle of a flooded street. She had to wait for the rainwater to ebb before calling a relative to come and help her push the bike home. The following morning she took a break from work to take her bike to a nearby repair shop and found three or four other customers waiting in line with the same problem. During the second flooding episode on June 13, luckily her bike did not break down. But she had to spend a lot of time driving in the chaotic traffic, which had come to a standstill on many streets. "Now, whenever it starts to rain, I return home … [Read more...] about When downpours turned life upside down in Hanoi

Delegates at the press briefing to kick off the 8th International Livestock, Dairy, Meat Processing and Aquaculture Exposition in HCM City on June 30. — VNS Photo The 8th International Livestock, Dairy, Meat Processing and Aquaculture Exposition will be held next month in HCM Ciity to help firms in restore and enhance business connections, and update market information and new technologies after nearly three years of interruptions due to the COVID-19 pandemic. ILDEX Vietnam 2022 is expected to attract more than 200 exhibitors from 25 countries and territories, including Austria, Belgium, Canada, China, Czech Republic, Denmark, France, Germany, Italy, Japan, Korea, Netherlands, Thailand, the US, and UK. A series of activities will be organised during the three days of the exhibition, including workshops that will provide knowledge, solutions and strategies to help businesses grow and thrive,a direct business matching programme, a Potential Buyer Programme (VIP Buyer), and many … [Read more...] about Over 200 exhibitors to join international livestock, aquaculture expo

Cargoes at Tan Cang – Cat Lai warehouse are being loaded into containers. (Photo: SGGP) Adding to difficulties from possible logistics chain disruption and increasing fuel prices is the challenge to approach capital amounts. Thanks to the stable political and social status of the country plus the well-controlled pandemic, Vietnam is a preferred choice of many foreign investors. 17 trade agreements have been successfully signed in the first 6 months of 2022, bringing about a direct foreign investment of over US$10 billion in the country, a rise of nearly 9 percent compared to this time last year. Vice CEO in charge of global supply sources of Techonic Industries (TTI) Nate Easter informed that his company chose to start a new manufacturing plant in Saigon Hi-tech Park in HCMC, worth $650 million. This is the second largest among 12 plants of TTI in the world to earn a revenue of $2.5 billion a year. TTI needs to build a supply chain of domestic support industry products for 80 … [Read more...] about Vietnam becoming attractive destination for foreign capital