A wood processing plant in Vietnam (Illustrative image (Source: VNA) Hanoi (VNA) – In 2019, Vietnam’s wood and forestry industry aims to gross 10.5 billion USD in exports, up 1.2 billion USD compared to the previous year. This is a relatively high target as the entire agricultural sector set a goal of a yearly increase of 3 billion USD. However, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said it is completely feasible. The forestry sector hit 9.3 billion USD in export turnover in 2018, surpassing the target of 9 billion USD ordered by Prime Minister Nguyen Xuan Phuc. This is considered a premise for the sector’s export growth not only in 2019 but also beyond, Tuan said. At a conference devising plans for rapid and sustainable development of the wood and forestry industry in August 2018, the PM required the sector to become a spearhead in production and exports of Vietnam in the next 10 years. Another goal is turning Vietnam into a global … [Read more...] about Wood industry targets 10.5 billion USD in export turnover in 2019
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Disbursed FDI up 10.5% in January
Disbursed foreign direct investment (FDI) totaled $1.05 billion for the year as at January 20, an increase of 10.5 per cent compared to January 20, 2017, government data reveals. Illustrative photo Foreign investors secured approval to pour $442.6 million into 166 new projects in Vietnam during the month, down 64.4 per cent year-on-year in value and 5.1 per cent in project numbers, a General Statistics Office (GSO) report released on January 29 noted. They also added $456.8 million to 61 existing projects, up 155 per cent from a year earlier. Overseas investors also outlaid $356 million on mergers and acquisitions (M&As) during January, up 54.7 per cent from a year earlier. Manufacturing remained the most appealing sector, attracting $746.8 million into both new and operational projects in January and accounting for 83 per cent of total foreign investment. M&A outlays totaled $162.2 million. Foreign investors poured capital into 24 cities and provinces around the … [Read more...] about Disbursed FDI up 10.5% in January
Industrial production up 10.5 percent in six months
Illustrative image (Source: VNA) Hanoi (VNS/VNA) – Vietnam’s index of industrial production (IIP) increased 10.5 percent on-year in the first half of 2018, the General Statistics Office (GSO) reported. The metric was higher than the 7 percent growth recorded in the same period last year, the GSO said. The GSO attributed this year’s IIP growth to breakthroughs in the processing and manufacturing sector, which rose 12.7 percent, contributing 9.7 percentage points to the overall IPP. According to the GSO’s General Director Nguyen Bich Lam, the processing and manufacturing industry was a bright spot for the economy, driving the overall growth of the industry. “It is one of the three sectors, together with the agro-forestry-fishery and services, to achieve impressive growth and contribute a substantial 7.08 percent of gross domestic product (GDP) growth in the first six months of 2018, the highest rate in the first half of the year since 2011,” Lam … [Read more...] about Industrial production up 10.5 percent in six months
Industrial production up 10.5% in six months
Among the key industrial products that posted high IIP increases in six months were raw steel and iron (43.7 per cent); fabric (22.1 per cent); sugar (19 per cent); liquefied petroleum gas (18.5 per cent); feed for seafood (17.8 per cent); television (17 pe Viet Nam’s index of industrial production (IIP) increased 10.5 per cent on-year in the first half of 2018, the General Statistics Office (GSO) reported. The metric was higher than the 7 per cent growth recorded in the same period last year, the GSO said. The GSO attributed this year’s IIP growth to breakthroughs in the processing and manufacturing sector, which rose 12.7 per cent, contributing 9.7 percentage points to the overall IPP. According to the GSO’s general director, Nguyen Bich Lam, the processing and manufacturing industry was a bright spot for the economy, driving the overall growth of the industry. “It is one of the three sectors, together with the agro-forestry-fishery and services, to achieve … [Read more...] about Industrial production up 10.5% in six months
EVN’s electricity production rises 10.5 percent in five months
Illustrative photo (Photo: VNA) Hanoi (VNA) – The State-run Electricity of Vietnam (EVN) Group produced 74.42 billion kWh of electricity in the first five months of 2018, an increase of 10.5 percent from a year earlier. Electricity losses in the January-May period were estimated at 6.2 percent, one percent lower than the target of 7.2 percent. In May alone, the group generated 16.02 billion kWh of electricity, up 10.06 percent year on year, and ensured a stable supply of power as the summer came. The group’s electricity output from domestic production and import reached 19.59 billion kWh of electricity in May. The EVN has submitted to Prime Minister Nguyen Xuan Phuc a plan to restructure its subsidiaries and reported to the Ministry of Industry and Trade a revised plan on electricity supply by 2030 and a project to separate wholesale and retailing distribution in the group’s power corporations. It also directed the power corporations to review electricity … [Read more...] about EVN’s electricity production rises 10.5 percent in five months