Export

Illustrative photo (Source: VNA) Hanoi (VNA) - Fishery exports reeled in 10.14 billion USD as of November this year, up 27% annually, said the Ministry of Agriculture and Rural Development. Of the sum, Tra fish and shrimps contributed 2.2 billion USD and 4.1 USD, up nearly 62% and 14.6% year-on-year, respectively. Tra fish’s sharp increase was thanks to the strongest annual surge in the product’s average price, at 50%. Exporters have also seized an opportunity to increase their market share created by the Russia-Ukraine conflict which limits the supply of white fish. Overall, shrimp export turnover has retained good growth so far thanks to strong rises recorded in the first half of the year. In the last half, the value declined due to a decrease in market demand and a short supply of raw materials. The product’s average export price did not increase as strongly as Tra fish, as it faced significant competitive pressure from those of Ecuador and India. Illustrative … [Read more...] about Fishery exports exceed 10 billion USD in 11 months

The Vietnam Textile and Apparel Association (Vitas) forecasts that the business results of textile and garment enterprises in the fourth quarter will decline compared to the same period last year due to the impact of many geopolitical factors. Importers in the United States, EU, and Japan have been lowering prices and reducing orders. Despite this, textile and garment exports in the first 10 months of 2022 reached $37.9 billion, up 17.2 per cent over the same period last year. Textile groups at pains to regather momentum, source: shutterstock Vitas chairman Vu Duc Giang said, “Enterprises’ warehouses are full and inventories are so large that many customers are forced to stop ordering or even delay the delivery time. Businesses are missing 35-50 per cent of orders for November and December.” The outlook for apparel orders in 2023 is clouded by the effect of the inventory cycle extending from Q4. This is also an indicator that the textile and garment industry will face … [Read more...] about Textile groups at pains to regather momentum

The Vietnam Rubber Association (VRA) last month proposed to the Ministry of Finance (MoF) to consider applying a VAT policy on preliminarily processed rubber and latex, similar to other agricultural products. The VRA also urges for the application of preferential corporate tax for income from the harvest of liquidated rubber trees, like other crop products, and a land rent exemption policy for replanted rubber areas during the construction period. The goal is to remove difficulties for the entire value chain, from rubber growers to exporters. Rubber producers continue to brood over tough prices and tax complexities, photo Le Toan In Ho Chi Minh City, Hoa Thuan Trading Co., Ltd. is still waiting for a tax refund of $2 million for rubber exports. Representative Tran Le Thu said, “When completing tax refund procedures in Ho Chi Minh City, the company have to wait for the agency to verify invoices for purchasing raw materials in the provinces.” Thu also pointed towards “a … [Read more...] about Rubber producers continue to brood over tough prices and tax complexities

A booth at the fairs (Photo:VNA) HCM City (VNA) – The Vietnam Supporting Industry Fair (VSIF) 2022 and the Vietnam Hardware & Hand Tools Expo 2022 (VHHE) kicked off in Ho Chi Minh City on December 1. Hosted by the municipal Department of Industry and Trade, the three-day events feature 255 booths from over 200 local and foreign businesses, and prestigious brands from 12 countries and territories around the world. They aim to improve competitiveness and promote industrial production cooperation between Vietnamese enterprises and foreign partners in Vietnam, and partnerships in supplying products to end-to-end production firms and foreign enterprises operating in the country. The VSIF 2022 displays components of products serving the supporting industry. Meanwhile, the VHHE showcases products with wide application in many industries from manufacturing, repairing, to assembling. Vice Director of the municipal department Nguyen Thi Kim Ngoc said the events are expected … [Read more...] about Trade fairs of supporting industry, hardware products open in HCM City

In the first 10 months, the textile and garment industry recorded about 38 billion USD in export value, up 17.2 per cent year-on-year. (Photo: moit.gov.vn) Hanoi (VNS/VNA) - The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030. By 2023, the industry plans to reduce energy consumption by 15% and water consumption by 20%. Green growth is an important part of sustainable development. In recent years, enterprises in the textile - garment - footwear industries have paid special attention to this issue. According to Truong Van Cam, VITA's general secretary, a greener textile and garment industry not only contributes to implementing the national strategy on green growth but also fulfils the requirements of large textile and garment import markets in the world, such as the European Union (EU). Vietnamese textile-garment and leather-footwear firms need to improve the … [Read more...] about Vietnam to reduce environmental impact of textile-garment industry by 2030