Imported

During the nine-month period, several markets have enjoyed impressive growth in import turnover, with many reaching over hundreds of millions of US$ in the process. France was the nation’s largest drug supplier with turnover hitting nearly US$265 million, a sharp rise of over 29 per cent in comparison to last year’s corresponding period. The import of pharmaceutical products also accounts for more than 26 per cent of the country’s total import turnover of goods from the French market. Simultaneously, drug imports from Germany saw an annual surge of US$10 million to reach approximately US$215 million. Other major Asian drug suppliers to Vietnam saw high growth in turnover, including the Republic of Korea, India, Japan, Thailand, China, and Singapore. Most notably, imports from India were recorded at over US$163 million. Elsewhere, China earned nearly US$25 million from exporting pharmaceutical products to Vietnam with drug materials fetching a turnover of close to … [Read more...] about Vietnam spends US$2.144 bil importing pharmaceuticals in over eight months

Customers examine a four-seat car on display in this file photo. Some experts and government units have voiced concern over the future growth prospects of the local automobile sector due to the upsurge in car imports Statistics from the Ministry of Industry and Trade indicate that in the first six months of the year, the volume of automobile imports reached a record high of over 75,430 units, worth US$1.68 billion, skyrocketing 513% in volume and 413.4% in value year-on-year, the local media reported. The strong rise was attributable to the automobile import tariff in the ASEAN region being slashed to zero. The number of automobile imports is forecast to continue rising in the coming years, increasing pressure on the local automobile sector. Speaking at the seminar titled “Steps forward for supporting industries in Vietnam,” Vu Tan Cong, an automobile expert, said that the Vietnamese automobile sector could soon succumb to heavy competition from foreign manufacturers if … [Read more...] about Rising automobile imports put domestic sector at risk: expert

Last year, the country exported more than 1.1 billion USD of dragon fruit, accounting for about 30 per cent of the country’s total fruit and vegetable export value, according to the Vietnam Farmers Association. Speaking at a recent seminar in the south-central province of Binh Thuan, Nguyen Xuan Đinh, deputy chairman of the association, said that China had begun cultivating dragon fruit and was raising standards for dragon fruit imports. China is currently the main market for Vietnamese dragon fruit. Binh Thuan and the Mekong Delta province of Long An and Tien Giang top the country in dragon fruit growing area. Binh Thuan, the country’s largest dragon fruit producer, has nearly 30,000ha of dragon fruit. Of the figure, nearly 10,000ha are planted under Vietnamese good agricultural practices (VietGAP) standards and more than 260ha under GlobalGAP standards. However, the country’s dragon fruit production is largely unsustainable since many farms are … [Read more...] about Sustainable production sought for dragon fruit as China raises import standards

The Directorate General of Foreign Trade of India said in a notification "Import policy of agarbatti and other odoriferous preparations which operate by burning ...is revised from free to restricted". The decision has made an impact on Vietnam which accounts for 90 percent of India’s agarbatti imports. In the past, each month an agarbatti workshop can sell about 100 tonnes of incense sticks, earning nearly 90,000 USD. However, since early September, many units have faced difficulties in exporting their products. Some of them even considered close-down. Quang Phu Cau commune in Hanoi’s Ung Hoa district has five hamlets with 3,300 agarbatti production units, which mainly export their products to India. The recent move to curb import of agarbatti products from Vietnam has made impacts on the trade village. Vietnam’s Ministry of Industry and Trade said India’s restriction on its import of agarbatti from Vietnam because Vietnamese products are much cheaper than … [Read more...] about India’s import restriction hits Vietnamese agarbatti makers

The opening ceremony of the Guangdong (China) export-import fair in Vietnam 2019 Under the hosting of the Guangdong Trade Department, the event aims to connect Vietnamese enterprises with counterparts from the three above localities of China in the fields of rice, coffee, rubber, textile accessories, cotton, handicrafts, kitchen utensils, and electrical equipment. “In the morning of the first day, we received 100 appointments from exporting enterprises from all over Vietnam,” Zheng Jian Rong, director of the Guangdong Trade Department, said. According to Zheng, with the theme “Export, import – Investment and trade co-operation”, the fair looks to create comprehensive connections as well as improve the economic potential of the financial bay Guangdong, Hong Kong, Macau, and Vietnam to a new level. “Over 3,000 VIP buyers invited to the fair through a professional business matching promise added values for bilateral co-operation. Famous multinational … [Read more...] about Very first Guangdong (China) export-import fair held in Vietnam