Vietnam export and import

The local economy should have had expanded by over 7% in the 2020-2021 period, but instead, it settled at 2.91% in 2020 and would achieve an estimated 2.5% this year. The Covid-19 pandemic in the past two years has caused losses of VND847 trillion (U$37 billion) for the local economy. Electronics production for export at Rang Dong Company. Photo: The Hanoi Times Vice-Chairman of the Party Central Committee’s Economic Commission Nguyen Thanh Phong revealed the figure at a business forum on December 5. According to Phong, without the pandemic, the economy would have expanded by 7% for the past two years. However, in fact, the country’s GDP expanded only 2.91% in 2020 and an estimated 2.5% this year. This resulted in losses of VND160 trillion ($7 billion) in 2020 and VND346 trillion (15.1 billion) in 2021, or around VND507 trillion ($22.2 billion)  according to the purchasing power of 2010, and VND847 trillion ($37 billion) in current purchasing power. … [Read more...] about Vietnam’s economy loses US$37 billion on Covid-19

Canned lychee sold at a Tang Frères supermarket in France (Photo: VNA) Paris (VNA) - More than 20 tonnes of canned lychee from Vietnam has hit the shelves of supermarkets in France for the first time, according to the trade office of Vietnam in the European country. This is also the first time canned fruit from Vietnam has been sold at a retail chain in France. The lychee was imported by Tang Frères , the largest retail system, importer, and wholesale distributor of Asian food in France. Vietnamese Ambassador to France Dinh Toan Thang said this is a significant success opening up a new development direction for Vietnamese fruit in France and the EU. He noted although Vietnam has many businesses strong at producing canned fruit, only a modest volume of such product has been imported into France. Given this, the country still has much room for boosting the export of this product, and businesses should fully capitalise on opportunities, thus helping reduce pressure … [Read more...] about Vietnam’s canned lychee goes on sale at French supermarkets

Illustrative image (Source: VNA) Hanoi (VNA) – Russian food supplier Miratorg announced that it has exported 40,000 tonnes of pork to Vietnam so far this year and become the country’s largest meat provider. Miratorg said that it has won 33 percent of the pork market share in Vietnam. With high demands and convenient logistics conditions, Vietnam has been one of the promising Southeast Asian markets for Russian food suppliers. Miratorg has signed a cooperation agreement with Vietnam’s An Binh Trading Development and Import-Export JSC, a subsidiary of TNT Group, on increasing fresh meat supply. Established in 1995, Miratorg Holding is one of the leading pork and beef suppliers in Russia./. VNA … [Read more...] about Russian firm becomes Vietnam’s largest pork supplier

Canned lychee sold at a Tang Frères supermarket in France. — VNA/VNS Photo HÀ NỘI — More than 20 tonnes of canned lychee from Việt Nam has hit the shelves of supermarkets in France for the first time, according to the trade office of Việt Nam in the European country. This is also the first time canned fruit from Việt Nam has been sold at a retail chain in France. The lychee was imported by Tang Frères, the largest retail system, importer, and wholesale distributor of Asian food in France. Vietnamese Ambassador to France Đinh Toàn Thắng said this is a significant success opening up a new development direction for Vietnamese fruit in France and the EU. He noted although Việt Nam has many businesses strong in producing canned fruit, only a modest volume of such product has been imported into France. Given this, the country still has much room for boosting the export of this product, and businesses should fully capitalise on opportunities, thus helping reduce pressure … [Read more...] about Việt Nam’s canned lychee goes on sale at French supermarkets

Policy and environmental conditions affect economic growth both in the long run and in the short run. In 2021, Ho Chi Minh City has many growth opportunities because the world economy is on a good recovery, so export orders of enterprises increase. At the same time, the trade conflicts of some big countries such as the US with China and the political crisis in Myanmar have pushed orders to shift to Vietnam quite a bit. Foreign investors also choose Ho Chi Minh City as an attractive destination to pour money into an investment. However, businesses could not produce, capital flow did not come as expected because of the impact of the prolonged epidemic. Therefore, the city authorities’ policies have switched from fighting the coronavirus pandemic to safe adaptation to the epidemic removing barriers for facilitation of the resource flow, then Ho Chi Minh City's economy will gradually recover quickly. For the economy to develop, state management must not obstruct the circulation of … [Read more...] about HCMC seeking new impetus for economic growth