In August, for a second month in a row, the billion-dollar mark was breached, with the value of shipments increasing 2.5-fold to nearly $1.5 billion. The main export markets were Southeast Asia, which bought 2.7 million tons and China (1.8 million tons). Exports to the E.U. and U.S. skyrocketed 7.5-fold and four-fold from 12 months earlier as demand there continued to soar. Exports to Europe also benefited from the EU-Vietnam Free Trade Agreement, with many companies taking advantage of lower tariffs. According to the Vietnam Steel Association, the country’s production capacity is around 24 million tons a year. Output this year is expected to reach 21.2 million tons, enough to meet domestic and export needs. …
Vietnam’s tuna exports to E.U. see strong surge thanks to EVFTA
The tuna shipments accounted for about 15.1 percent of Vietnam’s total seafood export value to the E.U. In the second quarter of 2021, the country shipped 9,360 tons of tuna to this market, raking in USD 45.05 million, up 43.9 percent in volume and 59.3 percent in value from the previous quarter. The surges were attributed to tariff reductions granted to Vietnam’s tuna products under the E.U.-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020. According to the MoIT, Vietnamese tuna was sold at USD 4.62 per kg on average to the E.U. in the first six months of the year, down 0.27 percent year on year. The global tuna prices have been also declining on the back of weakening demand of canned tuna during the period. Significant growth was seen in a number of E.U. markets, including Poland which recorded imports of Vietnamese tuna rocketing 989 percent in volume and 608.6 percent in value, and Bulgaria, 289 percent and 229 percent, respectively. Data from the …
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China pledges to donate an additional 3 million doses of vaccines to Vietnam
Politburo member and Standing Deputy Prime Minister Pham Binh Minh and Chinese State Councilor and Foreign Minister Wang Yi on September 10 co-chaired the 13th meeting of the the Steering Committee for Vietnam–China Bilateral Cooperation. Politburo member and Standing Deputy Prime Minister Pham Binh Minh (R) and Chinese State Councilor and Foreign Minister Wang Yi. China pledged to donate an additional 3 million doses of vaccines for Việt Nam, bringing the total number of doses promised to 5.7 million. The information was announced at a meeting of the 13th Steering Committee for Việt Nam-China Bilateral Cooperation held in Hà Nội on Friday. The two sides congratulated each other on their recent important events including Việt Nam’s 13th National Party Congress and China’s 100th Anniversary of the Chinese Communist Party. They noted that the two countries have maintained close contact and exchanges through many forms, strengthened cooperation among …
Craft villages in Hanoi resume production
As social distancing measures have been eased in Hanoi since September 15, production facilities in local craft villages have begun preparing for the restoration of production after being standstill for a long period. However, craft villages still face many difficulties and need more support from local authorities and relevant agencies. Bui Hong Luyen, Chairman of the People's Committee of Phu Tuc Commune, Phu Xuyen district, which is famous for grass weaving production, said upon being informed that they can resume production, a bustling atmosphere has been restored in the commune. Many orders are being completed. Phu Tuc grass weaving village in Phu Xuyen District. (Photo: vov.vn) Nguyen Huy Khiem, Director of the Phuc Loc Wooden House company in Chang Son Carpentry village, Thach That district, said 80 percent of its employees have returned to work. Most production facilities in the locality are operating at least at 40 percent of their capacity, he said, …
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Tetra Pak expands investment in Vietnam
Tetra Pak's factory in Binh Duong (Photo: Tetra Pak) Binh Duong (VNS/VNA) - Tetra Pak has announced an additional investment of five million EUR in its 120 million EUR packaging material factory in southern Binh Duong province. The additional investment reaffirms its confidence in Vietnam's economic rebound from the COVID-19 pandemic and its continuing commitment to support food and beverage producers in Vietnam. “This additional investment of five million euros reflects our confidence in the strong recovery of Vietnam’s post-pandemic economy ,” said Eliseo Barcas, Managing Director for Tetra Pak Vietnam. “This investment also enables us to better serve our customers by offering greater capacity, more exciting packaging innovation and reducing our environmental footprint.” The new investment is expected to increase the factory’s annual output from the current 11.5 billion to 16.5 billion packages, thereby meeting the growing needs for aseptic packages in Vietnam …
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E-commerce turns small businesses into big cross-border traders
Many business owners have found major partners after joining international B2B marketplaces. Vihaba is a small and medium enterprise that exports and distributes agricultural products, handicrafts and garments. Since the enterprise began selling products on Alibaba, its revenue has increased by 55 percent over the last two years. Vietnam’s products are exported to many big markets, including the EU, US, the Middle East and Southeast Asia, thanks to the e-commerce platform. A representative of the company said the company makes the most of the e-commerce platform to effectively manage clients and improve the advertisement of products. DSW received orders soon after entering Alibaba. Its CEO Tran Thi Yen Phi said since the day of getting the first order worth $3,000, the company’s export turnover reached $400,000 a month. Ten percent of that comes from the contracts it gets via Alibaba. DSW has expanded its business scale, exporting products to 10 markets, while its staff …
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VIETNAM BUSINESS NEWS SEPTEMBER 18
Digital transformation plays a vital role in agricultural development To achieve ambitions to become a modern-oriented industrialised nation by 2030 and a developed country with high income by 2045, Viet Nam must succeed in the digital transformation process, in which agriculture is one of the priority areas, Minister of Foreign Affairs Bui Thanh Son said. Minister Son gave the statement at the Vietnam Agricultural Digital Transformation International Forum 2021, themed “Keeping up with market trends, ensuring the pivotal role of the economy during and after the COVID-19 pandemic.” which was held virtually on Thursday by the Ministry of Foreign Affairs (MOFA), the Vietnam Digital Agriculture Association (VIDA), and e-newspaper VnExpress. The forum is a place for dialogue and public-private policy activities between the Government, private sector and stakeholders. It was also an activity within the framework of the Vietnam International Agricultural Exhibition 2021 (AgriTech Expo …
Bitter fruit: farmers suffer huge loses as produce prices plunge
Son Van Luan, 67, director of a cooperative in Vinh Long Province’s Binh Tan district said farmers were suffering huge losses because sweet potato prices have dropped steeply. Before the Lunar New Year in February, Japanese purple sweet potatoes were bought and exported to China for VND1 million ($43.71) per 60 kg. However the price has dropped by about 85 percent to VND150,000-160,000 per 60 kg now. At the current, it is impossible to cover the investment, said Luan, adding that potato growers have never had such a difficult time. Many have decided not to plant a new crop, considering the pandemic situation, he said. Binh Tan was the province’s main area for Japanese purple sweet potato cultivation at 12,000-13,000 ha. However, the area has dropped to around 7,000 ha. "There are about 600 hectares with an output of nearly 2,000 tons that are ready for harvesting. The low selling prices have made life very difficult for farmers," said Nguyen Van Tap, Chairman of the Binh Tan …
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Rustic craft passed from generation to generation
Colours in Định Yên mat village. — Photo thamhiemmekong.com Located next to the gentle Hậu River, Định Yên mat village in Lấp Vò District, in the southern province of Đồng Tháp is famous for its long-standing tradition of sedge mat-weaving. After more than 100 years of development, transcending time, space and market competition, the village has continued to make mats for domestic use and export, and was recognized as a National Intangible Cultural Heritage in 2013. Although rustic, the patterned sedge mats have an ethereal and attractive beauty. Now as the coronavirus pandemic has spread across the country, Định Yên has been affected, with the market for the mats stagnant. However, locals are still trying to maintain a moderate production of their traditional craft. Dyeing sedge threads in Định Yên mat village. — Photo thamhiemmekong.com Origins When this land was still nothing but wild jungle, the first inhabitants here soon worked out how to take …
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