The United States is the largest market for Vietnam’s exports in the first five months of this year, generating an export revenue of US$22.6 billion, up 28% year-on-year. Some exports with the highest growth are smart phones and parts, with 109.2%; electronics, computers and parts 58.4%; and textiles and garments 9.8%. (Photo: Saigon Times) Under the impact of the U.S.-China trade war, Chinese goods are subject to high U.S. tariffs, leaving room for enterprises from other countries, including Vietnam, to penetrate the U.S. market. At present, Chinese leather products, shoes and handbags are not yet put in the group of commodities subject to a 25% U.S. tariff. However, Diep Thanh Kiet, vice chairman of the Vietnam Leather, Shoe and Handbag Association (Lefaso), said many big international footwear companies have contacted Lefaso members for a shift of U.S.-bound orders from China. Vietnam currently exports US$4 billion worth of footwear to the U.S. after China, with … [Read more...] about Potential risks for exports to U.S.
U s export administration regulations
The arrest blows away the hopes of an easing of Sino-U.S. trade tensions and rocking global stock markets. The shock arrest of Meng Wanzhou, who is also Huawei Technologies Co Ltd's chief financial officer, raises fresh doubts over a 90-day truce on trade struck between Presidents Donald Trump and Xi Jinping on Saturday - the day she was detained. The arrest is related to violations of U.S. sanctions, a person familiar with the matter said. Reuters was unable to determine the precise nature of the violations. The arrest and any potential sanctions on the world's second biggest smartphone maker could have major repercussions on the global technology supply chain. Shares in Asian suppliers to Huawei, which also counts Qualcomm Inc and Intel among its major suppliers, tumbled on Thursday. Meng, one of the vice chairs on the company's board and the daughter of company founder Ren Zhengfei, was arrested on Dec. 1 at the request of U.S. authorities and a court hearing has been set for … [Read more...] about Huawei founder’s daughter arrested on US request, clouding China trade truce
Legal conformity and persistence key to exporting goods to U.S.By Huynh Kim A view of the roundtable discussion – PHOTO: HUYNH KIM CAN THO – Two entrepreneurs doing business in the United States have advised Mekong Delta firms to work in line with the law and to be persistent in their efforts if they wish to export their products to the world’s largest economy. The Can Tho Promotion Agency held a roundtable discussion yesterday, which put forward ways to boost exports of agricultural products in Can Tho City and the Mekong Delta as a whole to the United States. The event gathered some 100 firms based in the Mekong Delta. Having lived in the United States for 38 years, Simon Ky Tran, director of Bfarmusa Company, is an experienced consultant for Vietnamese firms, helping them export their agricultural products to the United States successfully. This includes rice in Can Tho City and sugar of Thanh Thanh Cong Group in Tay Ninh Province. He noted that it took … [Read more...] about Legal conformity and persistence key to exporting goods to U.S.
U.S. food safety agency asserts Vietnamese tra fish quality compatibilityBy Trung Chanh Workers check the weight of tra fish fillets at a Vietnamese seafood producer – PHOTO: TRUNG CHANH CAN THO – The Food Safety and Inspection Service (FSIS) under the United States Department of Agriculture has proposed the Office of the Federal Register amend the Siluriformes fish inspection regulations to list Vietnam as a country eligible to export Siluriformes fish and fish products to the United States. Vietnamese catfish, under the Siluriformes order, mainly tra fish (Pangasius), will be qualified to be shipped to the United States if the proposal is approved. The Vietnam Association of Seafood Exporters and Producers told The Saigon Times today, September 17, that after receiving the proposal from the FSIS, the Federal Register posted a draft, seeking feedback for the request. The FSIS proposed this action because the agency had reviewed Vietnam’s laws, regulations … [Read more...] about U.S. food safety agency asserts Vietnamese tra fish quality compatibility
Mekong Capital divests from Asia ChemicalsMekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.Also, the fund’s full exit from Vietnam … [Read more...] about BUSINESS NEWS IN BRIEF 22/8