Policy formulation process

Prime Minister Nguyen Xuan Phuc visits a booth showcasing made-in-Viet Nam mechanical products on the sidelines of the conference on solutions for promoting the development of the mechanical industry in Ha Noi on September 24, 2019. Photo: VGP The Government chief made the statement while addressing a conference on solutions for promoting the development of the sector in Ha Noi on Tuesday. Though mechanical industry is the “backbone” of the economy, it is lagging far behind the world, requiring great efforts from the Government and businesses to keep up with fast-changing technological revolution. It is estimated that total demand for mechanical products for 2019-2030 would reach US$310 billion but the sector may only meet some 32%, which means heavy dependence on foreign countries. Statistics show that Viet Nam has to spent billions of dollar on importing equipment, machinery and material for production annually. Against that backdrop, Phuc stressed the Government will … [Read more...] about Development of mechanical industry requires more incentives

Rice export volume up but value falls The ministry said the total rice export volume and value in the first nine months of this year reached 5.2 million tonnes and $2.24 billion, respectively. The figures represented a rise of 5.9 per cent in volume and a drop of 9.8 per cent in value compared to the same period in 2018. Of which, Viet Nam shipped abroad 586,000 tonnes of rice in September for $251 million. The Philippines was the top market for Vietnamese rice in the first eight months of this year, consuming 1.76 million tonnes worth $720 million, 2.9 times higher in volume and 2.6 times in value over the same period last year. Strong growth was also seen in other markets, including Australia (75 per cent), Ivory Coast (nearly 35 per cent) and Hong Kong (nearly 35 per cent). The average rice price in the first eight months fell 13.8 per cent year on year to $435 per tonne. White rice led the way in the period, accounting for 47 per cent of total revenue, followed by Jasmine rice … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 14

Participants are introduced to advanced technology for agriculture at the Viet Nam-EU forum on sustainable agriculture. — VNA/VNS Photo Vu Sinh Viet Nam will have to address some challenges in order to fully grasp the benefits of the EU – Viet Nam Free Trade Agreement (EVFTA) and its opportunities for the export of agricultural products. The statement was released by Head of Trade and Economic Affairs at the EU Delegation to Viet Nam Carsten Schittek at the Viet Nam-EU forum on sustainable agriculture jointly held by EuroCham, the Ministry of Agriculture and Rural Development (MARD) and Vietnam Chamber of Commerce and Industry (VCCI) in Ha Noi yesterday. “The EU market is very demanding in terms of compliance with standards. This is of course to safeguard the protection of our consumers. However, this does not mean that the EU market is 'closed', on the contrary,” Schittek said. He said the EU is the largest importer of agriculture products, and imports more … [Read more...] about Challenges ahead in meeting EUs quality standards

The municipal People’s Committee organised a press conference yesterday morning to take responsibility and apologise to local residents about the situation in the Thủ Thiêm New Urban Area. HCM City organised a press conference to take responsibility “The HCM City People’s Committee sincerely apologises to residents, especially households on an area of about 4.3 hectares outside the planning zone in District 2’s Bình An Ward,” said Võ Văn Hoan, head office and spokesman of the city People’s Committee. “The committee is taking responsibility with the Prime Minister and the Government because it did not follow what was approved,” he added. “The city will seriously implement all conclusions of the Government Inspectorate and deal with complaints about Thủ Thiêm New Urban Area in District 2,” he said. “All will be done in accordance with laws, to ensure people’s rights, and … [Read more...] about HCM City apologises to local residents for shortcomings at Thủ Thiêm project

Yellow card pushes seafood industry developing sustainably Vietnam’s seafood exports have been seriously affected since the European Commission issued an official warning against illegal, unreported and unregulated (IUU) exploitation of Vietnamese seafood. The European Commission’s yellow card has seriously affected Vietnamese seafood firms, resulting in a downturn in export value to the EU and a shortage of input material. Given these acute challenges, this company has still raked in six million USD, recorded 12 percent export growth in the first eight months of 2019. This success looks like a timely change in tactics. The EU is no longer Vietnam’s second biggest seafood importer. With import value of 251 million USD, it now stands in fifth position. According to the Vietnam Association of Seafood Exporters and Producers, seafood exports to the EU have fallen, but have witnessed growth in other markets. Seeing the challenge as an opportunity to restructure, the … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES OCTOBER 17