Trade

Vietnamese wood brands According to Huynh Van Hanh, Vice President of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Ho Chi Minh City is the cradle of the Vietnamese wood processing sector. He said that in the early 1990s, Vietnam exported wood products under brand names of Chinese Taipei and Singaporean companies. Since then, domestic wood companies have studied the market economy, as well as its requirements in terms of product quality and origin of materials. Vietnamese wood products are now exported to Japan, the US and the EU under Vietnamese brands. However, when they exported to the EU and the US, domestic wood companies faced foreign investigations on the origin of the timber used to make their products. Huynh Van Hanh said HAWA advised its member companies to buy timber from countries to which their products would be exported. Wood products export has contributed significantly to Vietnam’s gross domestic product (GDP). The export value of wood … [Read more...] about Vietnam wants to furnish the world

Processing cashews for export Many plant closures Ministry of Agriculture and Rural Development data show that Vietnam exported US$3.52 billion worth of cashew nuts in 2018, down three percent in value but up 7.8 percent in volume compared with 2017. According to Pham Van Cong, President of the Vietnam Cashew Association (Vinacas), the Vietnamese cashew sector has faced numerous challenges due to insufficient domestic crop for processing. Cashew cultivation areas have been shrunk, while the linkage among deep processing facilities remains limited. The gap between cashew production and processing capabilities may lead to ineffective investment and increase unhealthy competition between businesses, which will result in the bankruptcy of weak companies. Vinacas data show that about 80 percent of cashew processing facilities nationwide have halted operations. Among the 600 cashew-processing facilities in the southeastern province of Binh Phuoc, about 480 have closed. In Long An … [Read more...] about Cracking the paradox of the cashew sector

Tra fish companies need to increase investment in processing to create products of high added value Most exports to US According to the Ministry of Agriculture and Rural Development (MARD), Vietnam currently is the world’s largest tra fish exporter. Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), attributed the export growth to higher prices. According to Nam, Vietnamese shrimp, tuna and tra fish are available on shelves of modern distribution networks in various countries. Domestic companies have maintained effective coordination with importers and improved the quality of products to increase their added value. VASEP forecast the 2019 export value of tra fish will total US$2.2-2.3 billion. In 2019, Vietnamese tra fish is expected to benefit greatly from the US-China trade war thanks to the growing demand of the Chinese market and US trade barriers. When the EU-Vietnam Free Trade Agreement (EVFTA) is signed … [Read more...] about Tra fish exports target US$2.3 billion

Foreign trade remained on the rise in January 2019 Satisfactory results Specifically, total export value reached an estimated US$20 billion, up 1.9 percent compared with December 2018. The export value of wholly owned domestic firms accounted for US$6.42 billion, up 7.8 percent. That of the foreign invested sector, including crude oil, reached US$13.58 billion, down 5.1 percent. The export value of agricultural, forest and aquatic products reached an estimated US$2.26 billion, up 3.1 percent compared with December 2018 and accounting for 11.28 percent of total export value. The export of fruit, vegetables, cassava and cassava products, coffee and pepper grew significantly. The export value of processing industry-related products - a major driving force of export growth - reached an estimated US$16.42 billion, accounting for more than 82 percent of total export value and up 1.6 percent compared with December 2018. Major contributors to January export value included telephones and … [Read more...] about Foreign trade off to a good start

It is the second year that the exhibition is being held in Vietnam. Over the next three days (March 13-15), HortEx Vietnam 2019 becomes the largest specialized venue in Southeast Asia with a total area of 4,500 m2 used by nearly 200 businesses from 28 countries to showcase their products and services. The event is expected to welcome about 6,000 trade visitors. Businesses participating in this year's exhibition come from all over the world, including Australia, Belgium, Canada, China, Denmark , France, Germany, India, Israel, Italy, Japan, Malaysia, the Netherlands, Portugal, Singapore, Spain, Thailand, Turkey, USA, Vietnam, New Zealand, Laos, Myanmar... “In addition to the special interest from countries in Southeast Asia, this year's exhibition also attracts many other countries from around the world. This diversity meets our wishes and matches the interests of enterprises from Vietnam, Laos, Myanmar, Cambodia and some other markets,” the event organizing committee said … [Read more...] about HortEx Vietnam 2019 showcases modern garden potentials