Rathdrum trading post

As both countries gradually reopen their economies, the conference and its business matching session provided a platform for Vietnamese firms and US importers to learn about each other’s needs and capacity, seek deals, and promote trade in the “new normal”. … [Read more...] about Việt Nam, US promote footwear trade post-pandemic

Hanoi (VNA) – Business and investment opportunities in Vietnam after the COVID-19 pandemic were discussed at a video talk held on May 29 by the Foreign Ministry, the Vietnamese Embassy in the UK and Asia House - a UK centre of expertise on trade, investment and public policy in Asia. The event saw the presence of Deputy Foreign Minister Bui Thanh Son, Asia House Chief Executive Michael Lawrence, and business executives from around 40 UK groups and major enterprises such as HSBC, De La Rue, KPMG, Prudential, and Standard Chartered. The talk is a valuable chance to connect UK businesses and Vietnamese Government agencies, said Son, adding that it helps popularise information about policies and increase cooperation opportunities in the context of the two countries taking drastic measures to control the COVID-19 and recover their economies. He told participants that Vietnam is working on a “dual target” of disease prevention and economic recovery and development, with … [Read more...] about Post-pandemic business, investment opportunities shared with UK firms

Hanoi (VNA) - The agro-forestry-fishery sector recorded a trade surplus of close to 3.3 billion USD in the first five months of 2020, a decline of a mere 2.3 percent year-on-year. According to the Ministry of Agriculture and Rural Development (MARD), shipments overseas during the period brought in nearly 15.5 billion USD, down 4.1 percent year-on-year. Exports of key farm produce, husbandry products, fisheries, and forestry products earned approximately 7.4 billion USD, 210 million USD, 2.6 billion USD, and 4.2 billion USD, respectively. All were down year-on-year, by between 1.5 and 19 percent. Most products saw lower export revenue compared to last year, with earnings for tra fish, rubber, fruit, shrimp, peppercorn, and tea falling sharply. By contrast, shipments of coffee, rice, vegetables, cinnamon, and bamboo and rattan posted higher value. China remained Vietnam’s largest export market in the January-May period, with 3.7 billion USD. Despite showing a decline of 15.5 … [Read more...] about Five-month agro-forestry-fishery trade surplus nearly 3.3bn USD

Hanoi (VNA) - Vietnam reported a trade surplus of 1.9 billion USD in the first five months of this year amid the ongoing complexity for global markets caused by the COVID-19 pandemic. According to the General Statistics Office (GSO), export turnover reached 99.36 billion USD, down 1.7 percent year-on-year. The domestic sector’s export value was 33.3 billion USD, up 10.4 percent compared to the same period last year, while the FDI sector’s exports, including crude oil, were valued at 66.06 billion USD, down 6.9 percent. Commodities seeing strong growth in export value during the period included machinery, equipment, tools, and spare parts with 25 percent; computers, electronic products, and components with 22.1 percent; rice with 17.2 percent; coffee with 2.9 percent; and cashew nuts with 2.2 percent. Those with declining turnover were telephones and components (8.8 percent), textiles (14.5 percent), footwear (4.6 percent), fruit and vegetables (10.3 percent), rubber … [Read more...] about Vietnam posts 1.9bln USD trade surplus in first five months

On the flip side, experts believed controlling cost is key for European lenders at this moment, so looking for lucrative land in Asia might not be on their top priority now. Banks have been caught between a rock and hard place given the low and negative interest rates across the continent. Deutsche Bank, which entered Vietnam in 1992, now finds itself in uncharted waters due to the COVID-19 pandemic forcing it to set aside money for loan losses and disrupting its targets. The bank now holds 2.52 per cent of shares at Vietnamese lender SHB. … [Read more...] about Upcoming EVFTA to fortify lenders