The four major importers of computers, phones, and components include the US, the EU, China, and South Korea, grossing a total turnover of approximately $27 billion throughout the reviewed period. In the first eight months, all major markets increased their imports of products from the Vietnamese market. Notably, the export turnover to the US was $9.25 billion, China with $8.97 billion, and South Korea $3.88 billion, signifying increases of 48, 11, and 23 per cent, respectively. Regarding the EU, despite the export turnover to this market dropping by 5 per cent on-year to $4.61 billion, it still stands in the top four of the largest export markets for computers, phones, and components. The four major importers of computers, phones, and components include the US, the EU, China, and South Korea, grossing a total turnover of approximately $27 billion throughout the reviewed period. In recent years, Vietnam attracted global electronic firms to the production of phones, … [Read more...] about Vietnam’s IT and electronics sector reaching $70 billion in export turnover
Top 10 import and export products of the philippines
Inside a pineapple processing plant in the northern province of Ninh Binh. — VNA/VNS Photo Huy Hung Meeting the EU's Sanitary and Phytosanitary Standards (SPS) remains a challenge for Vietnamese food exporters as the country seeks greater integration in the global food supply, said industry experts and policymakers. Often considered non-tariff barriers, SPS has been viewed as a major hurdle for Vietnamese exporters to overcome even after the EU-Vietnam Free Trade Agreement (EVFTA) went into full effect in August 2020. According to experts, finding ways to meet the bloc's SPS was key to sustainable trade of agricultural products with the EU, a major market for Vietnamese producers. Two years since the EVFTA went into effect, there has been significant improvement between Viet Nam and the EU, especially in the agriculture sectors, with the former's exports to the EU reaching over US$3.2 billion, an 11 per cent increase compared to the same period last year. "We have high … [Read more...] about Meeting SPS key to sustainable agricultural exports to EU
Currently, Real Time Robotics Inc. (RtR) engages in manufacturing several hundred to 1,000 drones a year. The company is rushing to finalise the legal setup for building manufacturing facilities at Saigon High-Tech Park in Ho Chi Minh City later this year. Luong Viet Quoc is also the first one awarded an investment license at the park to open a drone manufacturing plant in Vietnam. Once completed, RtR would scale up its drone production capacity by 10-20 fold over the current level. CEO Luong Viet Quoc with his newly-released HERA drone In 2023, when RtR’s drone manufacturing facilities and output markets are gradually put into order, the company is expected to reap at least $10 million in profit with growth touching 50 per cent annually. After the US market, RtR aims to foray into the EU, Japan, Australia, New Zealand, and India. From a street boy... Luong Viet Quoc’s childhood was attached to the Nhieu Loc-Thi Nghe canal where most inhabitants lived … [Read more...] about Luong Viet Quoc: The first Vietnamese exporting drones to US market
Under the UKVFTA, import duties will be eliminated for 99.2% of the tariff lines, equivalent to 99.7% of Vietnam’s export revenue, after six years since the deal took effect. Therefore, businesses should quickly move to seize opportunities brought about by the agreement, which officially came into force on May 1, 2021, the agency recommended. Experts said to increase Vietnamese goods’ presence in the U.K., businesses should align production with British quality standards, grasp export procedures, and continue improving product quality by upgrading preservation and transportation technology, especially for farm produce. Firms were also suggested to pay more attention to registering and protecting brands in the U.K. while proactively seeking partnerships with major distributors in the market. Vietnam shipped 34,680 tons of coffee worth USD 70.68 million to the U.K. in the first eight months of 2022, up 57.9% in volume and 84.2% in value from a year earlier. Export prices also … [Read more...] about UKVFTA gives boost to Vietnam’s coffee exports to U.K.
EuroCham President Alain Cany speaks at the Viet Nam-EU Trade Forum on Thursday. — VNA/VNS Photo Viet Nam will promote sustainable, green and inclusive growth, and technology transfer to boost exports to and attract investment from the EU, said Minister of Industry and Trade Nguyen Hong Dien. Speaking at the Viet Nam-EU Trade Forum on Thursday, Dien said to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA), Viet Nam would spare no effort to meet EU technical and environmental standards for exports and attract investment from the bloc. The trade pact is expected to help promote high-quality investment between Viet Nam and the EU, he added. Dien recommended all EU member states soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA). By establishing a clear legal framework, the EVIPA will help EU investors feel more confident to invest in Viet Nam as their interests will be protected. An increase in EU investment would allow Viet Nam to better integrate … [Read more...] about Viet Nam to promote green growth, technology transfer to lure EU investment
At a wood processing factory in Binh Duong. (Photo: VNA) Binh Duong (VNA) – The southern industrial province of Binh Duong eyes to achieve a Gross Regional Domestic Products ( GRDP ) growth of 8% this year, heard a conference held by the provincial Party Committee on September 29. The local economy is back on track post-pandemic, with the GRDP expanding 5.3% in Q1, 8.35% in Q2, and 8.27% in Q3, compared to the corresponding periods last year. The nine-month figure was 7.36% year-on-year. With this trend, Binh Duong’s economic growth will be likely to exceed 8%. By the end of this year’s third quarter, the province had earned an estimated 48.5 trillion VND (2.03 billion USD) in State budget revenue, representing 81% of the yearly plan. It attracted 2.6 billion USD in FDI during the period, 45% higher than the yearly goal and up 74% from a year earlier. Its export turnover rose by 11.9% year-on-year to over 27 billion USD while imports totalled more than 19 billion … [Read more...] about Binh Duong sets to achieve 8% GRDP growth this year