Tung Ho Steel Vietnam Corp. Ltd. has lowered its steel bar and coil prices by around 3 percent, or VND500,000 ($21.6) a ton. Thai Nguyen Iron and Steel Company sold its steel products at VND18.75-19.07 million a ton, down 2-3 percent. On average, Vietnam steel prices are hovering at around VND18.5-18.7 million a ton, down 3 percent a ton from April but VND1.5-1.7 million higher than the middle of last year. Insiders attributed the drop to lower input costs, with iron ore prices at China’s Tianjin Port falling 11.5 percent to $139 million a ton. Vietnam’s steel industry has satisfied domestic demand, producing 11.4 million tons of finished steel products on consumption of 10.6 million tons in the first four months this year, according to data from Vietnam Steel Association. But prices are still heavily dependent on global material prices as local supply only meets 30 percent of production demand, it added. Costs of public investment projects will surge 20-30 percent this … [Read more...] about Vietnam steel price drops in May
High demand and high prices
As U.S. COVID-19 cases rise, so does demand for antivirals
Rising COVID-19 cases are driving up the use of therapeutics, with Pfizer Inc's oral antiviral treatment Paxlovid seeing a 315% jump over the past four weeks, U.S. health officials said on Tuesday. The increase in U.S. cases and hospitalizations is starting to affect recommendations on behavior, with New York City, the nation's most populous city, advising stricter mask usage but stopping short of new mandates. Apple has scrapped return to office plans. "Increasingly, we'll see this virus hit people who are substantially older, frail, have underlying illnesses, or are distinctly immunocompromised," said Dr. William Schaffner, infectious disease expert at Vanderbilt University Medical Center in Nashville. "But we now have better treatments and many of those people will leave the hospital vertically rather than horizontally." The United States is averaging nearly 97,000 new cases a day, up from about 73,000 a week ago, according to a Reuters tally. Cases have been gradually … [Read more...] about As U.S. COVID-19 cases rise, so does demand for antivirals
Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB
Institutions have become a major impediment to the nation’s aspiration to reach high income by 2045. Vietnam needs to shift its economic growth model and improve the government’s capacity to implement economic policy reforms and public investments, realizing its aspiration of reaching high-income status by 2045, a World Bank Group report says. Overview of the report launch. The World Bank Group’s Systematic Country Diagnostic Update, themed "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation,” emphasizes that Vietnam's traditional growth model faces major challenges from the Covid-19 pandemic, slowing globalization, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. “Vietnam’s GDP per capita has increased fivefold over the … [Read more...] about Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB
Livestock companies profit hit by rising animal feed prices
Customers buying MEATDeli, a product of Masan MEATLife, at a Vinmart+ store. — Photo thitmatmeatdeli.com HÀ NỘI — Higher animal feed prices have eroded livestock companies’ profits in the first quarter of 2022. VNDirect Securities Corporation said that the Russia-Ukraine conflict had a negative impact on the animal feed industry as supplies of raw materials for animal feed production like corn, soybeans and wheat, are disrupted, causing prices to rise sharply. The two countries are respectively the world's leading and third largest wheat exporter, accounting for one-third of the total trade of this commodity. Besides, Ukraine is the second largest corn exporter, accounting for 22 per cent of the world turnover. As of early April, the price of imported corn at Cái Lân port, Quảng Ninh Province, reached VNĐ9,200-9,500 per kg (US$0.4-0.41 per kg), an increase of 20-25 per cent compared to the end of 2021 and up 50 per cent over the same period last year. The average price of … [Read more...] about Livestock companies profit hit by rising animal feed prices
Institutional reforms key to reaching high-income status
Speakers at a conference discuss how improving institutional performance can help Việt Nam achieve its target of reaching high-income status in 2045. — VNA/VNS Photo HÀ NỘI — Việt Nam must seek to adapt its economic growth model while drastically improving the Government's capacity to coordinate and implement economic policy reforms and public investments to realise its objective of reaching high-income status by 2045, said a recent World Bank (WB) report. The report emphasises the major challenges faced by Việt Nam's traditional growth model during the COVID-19 pandemic, slowing globalisation and the Southeast Asian economy's increasing vulnerability to external shocks, especially climate risks. The key to addressing said issues, according to WB, is for the country's institutions to adapt and improve. “Việt Nam's GDP per capita has increased fivefold over the past three decades, while its institutions have not adapted at the same speed since the Đổi Mới (Renewal) course of … [Read more...] about Institutional reforms key to reaching high-income status
Vietnam’s fisheries sector to apply high-tech to ensure traceability
Themed “The National road-map and guidelines for e-logbook and electronic catch documentation and traceability (eCDT) in Vietnam,” the workshop aims to share the results and lessons learned from eCDT pilot programs and make consultation on the road-map to applying e-logbook amd eCDT to the management of fishing activities and the implementation of the Fisheries Law 2017, heading for sustainable and responsible fisheries development in Vietnam. At the workshop, Deputy Director of the Department of Capture Fisheries under the Directorate of Fisheries Pham Ngoc Tuan presented an overview of the development of the software and guidance on the implementation of e-logbook and eCDT, including training support and pilot programs in localities. Partcipants at the workshop then discussed the results, lessons learned and gaps identified from the eCDT pilot programs. Lessons learned from the pilot programs have contributed to the completion of the e-logbook and eCDT program, jointly … [Read more...] about Vietnam’s fisheries sector to apply high-tech to ensure traceability
