Movavi wont export

The Taiwan Food and Drug Administration (TFDA) has announced a list of 697 Vietnamese seafood enterprises permitted to export their products to Taiwan, reported the Vietnam Association of Seafood Processors and Exporters (VASEP).

The Hanoitimes – In the next 10 years, Vietnam will position itself as a major supply for global retailers in the Southeast Asian region.

The export of Vietnamese goods and products via distribution networks of global retailers remains an efficient and sustainable channel.

Deputy Minister of Industry and Trade Do Thang Hai.

Deputy Minister of Industry and Trade Do Thang Hai shared his view at a conference on 5-year review [2016-20] of the implementation of program to promote Vietnamese enterprises’ participation in the global supply chain on December 17.

The conference was held in a virtual platform with the participation of major retailers in Vietnam, including Aeon, Walmart, Central Retail, Lotte, or Mega Market, among others.

“Thanks to their support, Vietnamese high quality goods and products, ranging from agricultural products to household appliances, furniture, and garment, have reached millions of customers worldwide,” Mr. Hai noted.

“The presences of some of the world’s largest retailers from the US, Japan, South Korea and Thailand is evidence of a strong trade and investment relation between Vietnam and its partners, as well as the growing attractiveness of Vietnam’s retail market and its role as a major supply for global supply chain,” he added.

The deputy minister informed over the years, the Ministry of Industry and Trade (MoIT) has been cooperating with retailers in Vietnam in enhancing capabilities for Vietnamese traders, focusing on production capability, product development, market penetration, and connecting buyers and customers.

“After five years of implementing the program, local enterprises have gained better understanding on the necessity of studying customers behavior and preferences in international markets, which would later be incorporated into the process of product development,” Mr. Hai asserted.

The MoIT releases a manual to help local traders join retailers’ supply chains.

Discussing the vision for the program during the next 10 years, Head of the European-American Market Department Ta Hoang Linh suggested Vietnam aims to position itself as a major supply for global retailers in the Southeast Asian region.

In this regard, the country will continue to expand its cooperation with other strategic partners, especially foreign retailers operating in Vietnam or are looking to shift their supply chains to the Vietnamese market, Mr. Linh said.

“The ministry is set to cooperate with business associations and provinces/cities to select high potential enterprises to join the program and propose supporting polices to promote greater participation of local firms into the program,” Mr. Linh noted.

At this conference, the MoIT in collaboration with retailers under the program released a manual to help local traders join the latter’s supply chains.

Apparel exports have been showing signs of a rebound since the end of the third quarter last year

Recent figures by the Vietnam General Department of Customs show that as of February 15, Vietnam raked in $3.77 billion from textile and apparel exports, up $270 million compared to the same period in 2020.

Le Tien Truong, deputy chairman of the Vietnam Textile and Apparel Association (Vitas) and chairman of state-run group Vinatex noted that with the COVID-19 situation still intense and consumption declining in Vietnam’s major export markets like the US, EU, and Japan, many local firms have adopted smartly by shifting to producing items for common use with reasonable price tags.

“In fact, the textile and clothing sector has been trending in this direction from the second half of last year, helping to ensure continuous work for labourers with stable order placement. This helped the sector to reach an export turnover of $35.2 billion last year, which, albeit lower than in 2019, was much better than other major exporters like India and Bangladesh,” Truong said.

Due to the pandemic, total aggregate demand for textile and apparel products shed more than 22 per cent globally, going from $740 billion to $600 billion. Competing countries all saw 15-20 per cent decreases. The reduction of Vietnam’s textile and apparel sector was far less than the world average.

A Vinatexsource certified that many firms in the sector, including Vinatex members, have signed orders until the end of April. Significantly, orders have been placed for several product lines such as knitwear and items for common use until July and August.

Hung Yen Garment Corporation (Hugaco) – a major member belonging to Vinatex group – posted a revenue of $15.7 million and after-tax profit of $1.07 million in January 2021, up 83 and 160 per cent compared to January 2020.

The company has signed export orders until the end of this year’s second quarter, ensuring stable work for its labourers in the upcoming months.

In 2020, COVID-19 has adversely impacted firms across the board, and Hugaco was not an exception. Its total revenue shed 5 per cent to VND2.6 trillion($113 million) and profit sank 20 per cent due to declining orders and price rates.

Nguyen Xuan Duong, chairman of Hugaco, said that after a challenging year like 2020, this year, Hugaco’s prime goal in the short term is to sign more export orders and expand its market to ensure employment for its labourers.

According to Vitas, in the best case scenario, the sector would recover 2019 consumption level by the third quarter of 2022, while under a slower recovery scenario it would take until the end of 2023.

Under the current market conditions, the sector has set forth the target of achieving $39 billion in export value this year, equivalent to the 2019 performance.

The target of earning 4 billion USD from shrimp exports has been deemed “within reach” (Illustrative photo: VNA)

Hanoi (VNA) – Positive signs have been seen in shrimp exports since the beginning of this year and alongside a host of favourable conditions regarding market demand, the target of earning 4 billion USD from exports has been deemed “within reach”.

Auspicious signs

The US Customs and Border Protection (CBP)’s removal of anti-dumping tariffs on the Minh Phu Seafood Corporation ’s frozen shrimp products exported to the US is great news for the company and Vietnam’s shrimp industry as a whole.

The move has allowed the company to ship more frozen shrimp products to the US free of additional tariffs currently imposed on those from India. It will also receive a refund of tariffs it submitted previously.

The Ministry of Industry and Trade said the decision is objective and fair, with thorough consideration given to the efforts of Minh Phu and relevant agencies.

On January 5, a batch of 160 tonnes of frozen shrimp products from Minh Phu left port for the US, Europe, and Japan.

Figures from the Ministry of Agriculture and Rural Development showed that seafood export value was estimated at 600 million USD in January, a year-on-year increase of 19.6 percent.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said 2021 boasts favourable conditions for shrimp production and export, as demand worldwide remains stable and other exporters have yet to fully recover from the pandemic.

Vietnamese shrimp also possesses advantages in terms of tariffs thanks to new-generation free trade agreements the country has signed.

Experts noted that shrimp prices on the global market are projected to rise in the first half of this year and exports may well top 4.4 billion USD.

The US, Europe, and China are Vietnam’s largest markets at the moment, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said.

To realise the export target, companies and farmers must carefully prepare necessary conditions for production while remaining vigilant against disease and any chemical or antibiotic residue, to ensure food safety.

Links between stakeholders in the supply chains also need to be strengthened to raise product quality and ensure origin tracing, he noted, adding that effective models should be expanded and technical barriers countered.

Shrimp exports raked in 3.7 billion USD in 2020, a year-on-year increase of 11 percent. Vietnam has an advantage in exports compared to other suppliers given that the country has largely kept COVID-19 under control.

Export value to the US surged 33 percent last year, while the figures to the UK rose 20 percent, the EU 6.1 percent, and the Republic of Korea 3.3 percent./.