Exports by commodity

Veggie, fruit exports fetch some US$1 billion in Jan-March

April 12, 2021 by english.thesaigontimes.vn

Veggie, fruit exports fetch some US$1 billion in Jan-March

By Vu Yen

Farmers process dragon fruit. Vietnam exported vegetables and fruits worth over US$900 million in the first quarter of 2021, up 6.1% year-on-year – PHOTO: SGT

HCMC – Vietnam exported vegetables and fruits worth over US$900 million in the first quarter of 2021, up 6.1% year-on-year, according to data from the Import-Export Department under the Ministry of Industry and Trade.

In March, revenue from vegetable and fruit exports amounted to US$380 million, up 6.3% year-on-year, contributing to the rise in veggie and fruit export earnings in the three-month period.

The Covid-19 outbreaks were brought under control, smoothing the export operations, resulting in the growth in fruit and vegetable exports, according to the Import-Export Department.

China remained Vietnam’s largest fruit and vegetable buyer. In the first two months of the year, the country shipped fruits and vegetables worth US$350 million to China, increasing by 17.5% year-on-year and representing 62.5% of the country’s total fruit and veggie export value in the two months.

The United States, Thailand, Japan and South Korea were among Vietnam’s major fruit and vegetable importers.

Vietnam saw its shipments of fruits and vegetables during the January-March period to Taiwan, Malaysia and Australia soar by 43%, 32.5% and 30.6%, year-on-year, respectively.

The validity of some free trade pacts such as the European Union-Vietnam Free Trade Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership has opened a wide door for local exporters.

The United Kingdom-Vietnam Free Trade Agreement will take effect on May 1, which is expected to contribute to ramping up Vietnam’s exports of farm produce.

Under the agreement, over 94% of the total of 547 tariff lines on vegetables and fruits and processed products from vegetables and fruits will be scrapped.

Vietnam has one million hectares of fruit plants, with an output of over 12.6 million tons. The country’s fruits have reached numerous markets.

Until date, the Plant Protection Department under the Ministry of Agriculture and Rural Development has granted 998 codes to areas that grow fruits for export to the United States, Australia, South Korea, Thailand, Japan and the European Union.

First six volunteers receive second shots in Covivac vaccine trials

April 12, 2021 by dtinews.vn

Six volunteers participating in the human trials of Vietnam’s second homegrown candidate vaccine Covivac got their second shots of the vaccine on April 12.

They are the first out of the total 120 volunteers in the trials to receive the second shot, which is administered 28 days after the first one.

Since the start of the trials (March 15), 96 volunteers have been injected with the first shot and the remainder are expected to be inoculated by April 18.

In July, a mid-term report on the vaccine’s trials is planned to be done.

Covivac, which was developed by the Health Ministry’s Institute of Vaccines and Medical Biologicals, is in the first stage of clinical testing by the Hanoi Medical University’s Centre of Clinical Pharmacology.

According to Associate Professor, Dr Pham Thi Van Anh, head of the centre, 66 volunteers showed slight reactions like swelling in injected area and headache, which disappeared within 24 hours after injection without need for treatment, and no serious side effects were seen during the seven days after injection.

According to Deputy Minister of Health Tran Van Thuan, the ministry is expecting that Vietnam will have its own vaccine for use and even export between late 2021 and early 2022.

Da Nang to develop an international finance center

April 12, 2021 by en.qdnd.vn

Director of the city’s Investment Promotion Agency (IPA), Huynh Thi Lien Phuong said the MoU, which was signed late last month, aimed to build a trading center, casino, high-end entertainment and luxury apartments in the coastal area.

She said the project would be built on an area of 84,000.sq.m on the beach-front on Vo Nguyen Giap and Vo Van Kiet streets in the Son Tra peninsula.

Phuong said Da Nang authorities would auction land-use rights for the finance-trade-casino complex in the future.

She said the city was drawing up a detailed plan for the first international duty-free zone and smart urban area for investors.

Last year, five key investors – the Import-Export Pan Pacific Group (IPPG), T&T Group, New Techco Company from Vietnam, and Sakae Holding and another company from Singapore – registered for a land-use rights auction for a USD 2 billion finance-trade-casino complex in the central city.

Jonathan Hanh Nguyen, who is chairman of IPPG Group, urged the city to build an international standard duty-free zone and recreational area for tourists.

The city’s Department of Natural Resources and Environment said four plots on two coastal facade Vo Van Kiet and Vo Nguyen Giap streets were reserved for finance-trade-casino complex development.

Two years ago, IPPG failed to negotiate with Trung Nam Group to make the Golden Hills area the first duty-free zone and factory outlet center in central Vietnam.

Last month the first downtown free-duty shop, VV Mall was launched at the beach-front Crowne Plaza Da Nang resort in Ngu Hanh Son district.

The Universal Alloy Corporation (UAC) from the US has launched the first aerospace parts project, while LG Electronics began construction of its R&D center in the city.

Da Nang, which is situated at the end of the East-West Economic Corridor, linking Laos, Thailand, Myanmar and Vietnam, is planned as a global destination of tourism, finance, logistics and hi-tech investment.

Source: VNA

MHT continues ‘Going Global’, reinforcing the vision to become a leading integrated supplier of advanced high-tech materials

April 12, 2021 by bizhub.vn

Masan High-Tech Materials’ management board answer questions from shareholders and investors at the company’s annual general meeting held in Ha Noi on April 12. — Photo courtesy of the company

Masan High-Tech Materials (HNX-UpCOM: MSR, MHT) has set a target of net revenue growth of over 50 per cent in 2021, attributing to the H.C. Starck Tungsten Powders integration for the whole year, higher sales revenue and selling prices on the market.

The better price and bigger revenue will enable Masan High-Tech Materials to achieve earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth more than 100 per cent over last year, and strongly backed by the strict cost control in lean production activities.

Attributable net profit after tax is expected to be at appropriately VND200 – 400 billion (US$8.66 -17.3 million).

Speaking at its annual general meeting with the theme of “Go Global” held in Ha Noi on April 12, Craig Richard Bradshaw, general director of Masan High-Tech Materials, shared: “In 2020, Masan High-Tech Materials completed the acquisition of H.C. Starck Tungsten Powders and forged a strategic alliance with Mitsubishi Materials Corporation through an investment of $90 million from a Japanese Group, equivalent to a 10 per cent stake in MHT.

“The transactions have validated the transformation of Masan High-Tech Materials into a vertically integrated high-tech tungsten platform and asserted its position as global scale high-tech materials producer. Having overcome all the challenges and fluctuations impacted by COVID-19, Masan High-Tech Materials has promptly responded, tirelessly expanded its portfolios, flexibly meet customer needs and particularly manage cash flow efficiently.”

Its net revenues in 2020 were up 55 per cent year on year at VND7.291 trillion, mainly attributed to the consolidation of H.C. Starck Tungsten Powders. Thanks to the copper concentrate export permit, copper product revenue in 2020 increased against 2019, with a total 82,000 tonnes of copper concentrate exported under the export permit granted to the company.

Masan High-Tech Materials sustained its throughput in the Nui Phao Processing plant at 3.87 million tonnes, up by 2.3 per cent against 2019.

The processing plant had an overall availability of 95.4 per cent, up 1.3 per cent over 2019. In a production sense, contained copper production was up 13 per cent on prior years while tungsten equivalent production was up 68 per cent, thanks to the integration of the H.C. Starck Tungsten Powders.

From a cost perspective, the focus and drive on lowest cost production continued in 2020 with the team delivering an overall cash cost reduction in operating costs of $16.5 million compared with 2019. Of particular note was a 14.7 per cent improvement year on year in the unit cost per tonne milled in the Nui Phao Mining operation.

Speaking about its strategic vision for the 2021-25 , Danny Le, chairman of the board of directors of Masan High-Tech Materials, said “In 2021, we shall continue to work with customers to relentlessly develop the platform for tungsten high-tech materials.

“In parallel to seeking the opportunities to further develop tungsten recycling platform, Masan High-Tech Materials shall focus on expanding the recycling of other materials such as Cobalt, Tantalum and Molybdenum.

“Recently, H.C. Starck Tungsten Powders (a subsidiary of Masan High-Tech Materials) has received a funding of 800,000 Euro ($952,879) from German government to develop a new Cobalt recycling technology.”

The company aims to become a partner of choice to high-tech industries, where its products are a key component in evolving and shaping the future of the world, he said.

In early 2021, it has seen positive signs from customers with steadily increasing volumes and certainly higher metal prices. With ongoing investment in infrastructure projects and renewal projects by respective world governments, increasing spend on renewables, electric vehicles, fuel cell technologies, return of automotive manufacturing demand and general engineering, the demand outlook for its suite of products looks strong, the company said. — VNS