Hanoi (VNS/VNA) - Vietnam expects to gain a total export value of 12.5 billion USD from timber, wooden products and forest products this year, up 10 percent year on year, according to the Vietnam Timber and Forest Product Association (VIFORES). Of which, 8.68 billion USD would come from timber exports and 2.99 billion USD from wooden product exports, while other forest products would gain an export value of 830 million USD. In terms of market, the US this year is forecasted to be the largest export market for local timber, wooden and forest products with an expected export value of 6.1 billion USD, up 15 percent year on year. Following is Japan with an export value of 1.52 billion USD, up 10 percent; the EU with 1.13 billion USD, up 10 percent; and China with 1.21 billion USD, up 5 percent. The US housing market is expected to be brighter this year, leading to an increase in the demand for furniture. That will be an opportunity for Vietnamese wood enterprises to … [Read more...] about Forestry industry to gain export value growth of 10 percent this year
Global growth fund
VN stocks ease as market sentiment turns cautious again
Among large-cap gainers were FLC Faros Construction (ROS), PetroVietnam Power Corp (POW), VPBank (VPB), insurer Bao Viet (BVH), brewer Sabeco (SAB) and food and beverage firm Masan (MSN). … [Read more...] about VN stocks ease as market sentiment turns cautious again
Singapore: From sky farms to lab-grown shrimp
Singapore (VNA) – As Singapore, an unlikely place for farming revolution, aims to boost agricultural production and rely less on imports to feed its 5.6 million people, the country has developed tiered fish farms, vegetable plots atop office buildings and lab-grown shrimp. Singapore produces about 10 percent of its food; however, as climate change and population growth threatens global food supplies, it eyes to raise that to 30 percent by 2030 under a plan called “30-by-30”. The country has not given a total pricetag for “30-by-30” first unveiled in March, but it has various funding schemes. Besides Temasek, the government has set aside 144 million SGD (104 million USD) for research and development into food, and 63 million SGD for agriculture firms to use technology to boost productivity. As for Singapore, a tiny island state in Southeast Asia, the challenge is space. With only 1 percent of the country’s 724 square km land devoted to agriculture … [Read more...] about Singapore: From sky farms to lab-grown shrimp
The sun still shines in Vietnam: World Bank
Communist Party Secretary General and Vietnamese President Nguyen Phu Trong, speaking about Vietnam’s economic achievements at the government’s year-end online conference with leaders of cities and provinces, quoted the comment by the World Bank: “Dark clouds continue to pull on the global economy with lower economic growth and trade flows than expected for 2019; however, the sun is still shining above the Vietnamese sky”. … [Read more...] about The sun still shines in Vietnam: World Bank
Moody’s puts Vietnam’s Chinese export replacement demand at 2% of GDP
"Our share of negative outlooks across the sovereign, banking and corporate sectors has increased for 2020. Although it is still too early to assess the coronavirus impact over the remainder of the year, it undoubtedly increases the downside risks to our baseline,” stated Moody’s. … [Read more...] about Moody’s puts Vietnam’s Chinese export replacement demand at 2% of GDP
