Fast growing rice from vietnam

The General Statistics Office (GSO) last week reported that after growing 5.03 per cent in Q1 2022, the Vietnamese economy bounced back to 7.72 per cent in Q2, and 13.67 per cent in Q3. Vietnam impressing with GDP growth - illustration photo In the first nine months of this year, it grew 8.83 per cent against the 1.42 per cent in the same period last year and only 2.12 per cent in that of 2020, representing the biggest 5-month increase in a decade. The agro-forestry-fishery expanded 2.99 per cent on-year, while the rates of the industry and construction sector and the service sector were 9.44 and 10.57 per cent, respectively. “The 9-month economic situation has flourished in almost all sectors. The economy’s production and business activities in Q3 have strongly grown on-year,” said GSO general director Nguyen Thi Huong. “Many sectors have bounced back strongly, especially industrial production, making it more favourable for the economy to reach the desired growth … [Read more...] about Vietnam impressing with GDP growth

There is a lot of room for Vietnam and India to develop trade cooperation, and the most important thing is enhancing connectivity , especially infrastructure connectivity, via both land and maritime corridors. (Illustrative image. Photo: VNA) Hanoi Oct. 6 (VNA) - Vietnam and India should further strengthen connectivity to record more robust growth in bilateral trade, which is expected to hit 15 billion USD this year and surpass the record the two countries set in 2021, Indian analysts have said. Data from the General Department of Vietnam Customs shows that two-way trade between Vietnam and India surged to over 13 billion USD in 2021 from about 200 million USD in 2000. This has been a significant outcome, especially given major disruptions to supply chains during the COVID-19 pandemic. It is yet to match potential, however, Indian analysts believe. “There is a lot of room for Vietnam and India to develop trade cooperation, and the most important thing is enhancing … [Read more...] about Strengthening connectivity key to boosting Vietnam-India trade: Analysts ​

Illustrative image. (Photo: vneconomy.vn) Hanoi (VNA) – The COVID-19 pandemic has put the brake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueled a significant uptick in e-commerce which recorded a 16% growth to 13.7 billion USD in retail revenue in 2021, according to the White Book on Vietnamese E-business 2022. Last year, the economic growth hit the lowest in 30 years, at just 2.58%, with key services sub-sectors experiencing downturn. Data from the General Statistics Office showed that retailing and wholesaling declined 0.21% year-on-year, causing the economy to decrease 0.02 percentage point. Warehouse and logistics plunged 5.02% and lodging and catering services 20.81%, leading to a drop of 0.3% and 0.51%, respectively, to the GDP growth. Meanwhile, the share of turnover from e-retailing to last year’s total retail sales of goods and services was 7%, a year-on-year rise of 27% from 2020. E-retailing is forecast … [Read more...] about E-retailing to grow 20% this year

Vietnam beats Chinese Taipei 4-0 in the AFC U17 Asian Cup 2023’s qualifiers. (Photo: VNA) Right in the first minutes of the first half, Vietnamese players created situations to attack both sides of their opponents, forcing U17 Chinese Taipei’s defenders to struggle to resist. In the 18th minute, from a fast counter-attack of U17 Vietnam on the right wing, followed by a right pass from Phung Van Nam for Bui Hoang Son, striker Son put the ball into the net of Chinese Taipei, opening the score 1-0 for Vietnam. In the second half, U17 Vietnam had many accurate passes from the wings to the goal area of U17 Chinese Taipei, while the rivals are quite awkward in coordinating passes. The efforts of U17 Vietnam finally paid off in the 72nd minute. From a quick and excellent attack from the right wing, Nguyen Hoang Anh, who substituted for Bui Hoang Son, made an accurate cross for Nguyen Le Phat, who made a strong head shake to break Chinese Taipei’s net, raising the score to 2 - 0 … [Read more...] about Vietnam beats Chinese Taipei 4-0 in AFC U17 Asian Cup 2023’s qualifiers

Vietnamese consumers are more open to online insurance The State Bank of Vietnam’s recent interest rate hike to stabilise the VND and curb inflation has not dimmed the central bank's outlook for economic growth. Despite pandemic-related uncertainties, geopolitical instabilities, and rising inflation, the Vietnamese economy is expected to grow by 7 per cent in 2022, according to the IMF. Vietnam's insurance penetration rate remains between 2.3 per cent and 2.8 per cent, lower than in most emerging and developed markets. However, the insurance industry is embarking on a digital transformation journey that could transform the entire insurance value chain. Experts predict a compound annual growth rate of 23.7 per cent for the life insurance market between 2020 and 2025 and 8.5 per cent for the general insurance industry between 2021 and 2026 in terms of gross written premium. “With the goal of increasing Vietnam's digital economy’s contribution to 20 per cent of GDP by 2025, … [Read more...] about IXT released report on Vietnam’s insurance consumers

A farmer harvests giant river prawns in Kien Giang Province’s U Minh Thuong District. (Photo: VNA) Kien Giang (VNS/VNA) - The Mekong Delta province of Kien Giang has expanded aquaculture this year. Local farmers breed mostly shrimp, fish, mud crab, and bivalve molluscs in fresh and brackish water and the sea. The aquaculture output topped 206,000 tonnes in the first eight months of the year, up 13% from the same period last year, according to its Statistics Office, with shrimp accounting for more than 95,600 tonnes. Quang Trong Thao, Deputy Director of the provincial Department of Agriculture and Rural Development, said shrimp is farmed on more than 142,000ha using various models like industrial, semi-industrial, extensive and advanced extensive, and shrimp-rice farming. The province has reorganised aquaculture, especially shrimp farming, towards developing value chains, he said. It has established linkages between co-operatives, co-operative groups and companies … [Read more...] about Kien Giang province expands aquaculture