Export revenue

Hanoi (VNA) – High hopes are pinned on Vietnam’s rice export in the early months of 2021 after the price of its 5-percent broken rice exceeded 500 USD per tone last year, the highest since the end of 2011. The country’s rice export is likely to grow further in the first quarter of this year since the ongoing COVID-19 pandemic has led to increasing food demand in a number of Vietnam’s major markets in Southeast Asia and Africa which have placed more orders for Vietnamese rice, according to Nguyen Quynh Nga from the Vietnam Institute of Industrial and Trade Policy (VIOIT). Meanwhile, China’s rice imports are expected to bounce back due to a sharp increase in domestic price and unfavourable weather. China’s rising demand will offer a good opportunity for Vietnam, particularly given that the two countries have established a hotline to facilitate the trade of agricultural products which was disrupted by COVID-19. Vietnam’s newly-signed trade … [Read more...] about Q1 rice export outlook remains promising

The ministry informed the press that the USTR’s report provided comprehensive information regarding the case, including the reasons for and purposes of the investigation. The report did not mention or recommend imposing tariffs or any sanctions on Vietnam’s exports, the ministry said, noting that the efforts made at all levels, from Government leaders to officials of ministries, sectors, agencies, associations and businesses of both Vietnam and the US have brought about positive outcomes. The ministry, as chair of the Vietnam section in the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council and the agency authorised to work with the US in handling the case, welcomed the conclusion of the USTR’s report. The USTR’s decision has a positive meaning for bilateral trade, Vietnam’s business and investment environment and co-operation between the two countries, the Ministry of Industry and Trade said. According to the ministry, immediately … [Read more...] about US won’t impose tariffs or sanctions on Vietnam’s exports

HCM City (VNA) – The export of coffee declined in both volume and value last year due to certain difficulties that are forecast to linger on for the time to come, insiders have said. Nguyen Viet Hai, Vice Chairman of the Vietnam Coffee - Cocoa Association (Vicofa), told a meeting in Ho Chi Minh City on January 15 that in the 2019 - 2020 crop, 1.61 million tonnes of the bean was shipped abroad at the average price of 1,740 USD per tonne, bringing home 2.8 billion USD. The figures respectively fell 5 percent, 0.4 percent, and 5.3 percent from the previous crop. The export volume of processed coffee (roasted and ground coffee, instant coffee) dropped by over 17 percent to 110,000 tonnes, resulting a fall of 8.7 percent in value to more than 443 million USD, he pointed out. Hai noted coffee prices remain unstable, leading to a plunge in the purchase of the produce from farmers in the 2020 - 2021 crop. Fresh coffee is currently priced at 6.7 million - 6.9 million VND (about 289 - … [Read more...] about Difficulties still ahead for coffee sector: insiders

The physical and virtual event is organised by the Consulate General of India in collaboration with the Advisory Council on Administrative Procedures Reform to the Prime Minister, the HCM City Investment and Trade Promotion Centre, and VinaCapital Group.  … [Read more...] about Investors to explore business opportunities at India – Việt Nam investment forum

According to the amended seventh national power plan, the Mekong Delta is expected to become an energy hub for the south. Bac Lieu and Long An provinces have canceled big coal-fired power projects to call for investment in wind, solar and biomass power plants. Bac Lieu has added two wind power projects with total capacity of 200MW to the seventh national power plan. Meanwhile, the remaining projects capable of generating 8,690.6MW have been supplemented to the eighth national power plan—comprising 7,170.6MW from wind power, 1,500MW from solar power and 30MW from biomass power. … [Read more...] about Vietnam makes a big push into renewable energy