(VEN) - A Ministry of Industry and Trade (MoIT) forecast puts the value of 2018 goods exports at US$237-239 billion, a 10-12 percent increase compared with last year, yielding a trade surplus of about US$2 billion. Rice exports grew in the first nine months of 2018 Processing industry, driving force MoIT data show that Vietnam exported an estimated US$178.91 billion worth of goods in the first nine months of 2018, up 15.4 percent compared with the same period last year; the nine-month import value reached an estimated US$173.52 billion, up 11.8 percent. These import, export results yielded a trade surplus of US$5.39 billion. According to Nguyen Thi Mai Linh from the MoIT’s Foreign Trade Agency, rice and seafood topped the list of agricultural, forest and aquatic products in terms of export growth. Except for rice, cassava and tea, prices of other agricultural products were lower compared with the first nine months of 2017. The processing industry … [Read more...] about Annual exports forecast to grow 10 12 percent
Vietnam rice exporters list
Vietnamese rice: Time for serious branding
(VEN) - The 10th World Rice Conference and the 2018 Vietnam Rice Conference held in Hanoi from October 10-12 created opportunities to promote the global image of Vietnamese rice. The events were organized by the Ministry of Industry and Trade (MoIT), in association with The Rice Trader magazine. Minister of Industry and Trade Tran Tuan Anh More fragrant, better quality Data from the Ministry of Industry and Trade’s Foreign Trade Agency show that from the beginning of 2018 to September 15, Vietnam exported 4.73 million tonnes of rice worth US$2.38 billion, up 9.3 percent in volume and 24.8 percent in value compared with the same period last year. The structure of export rice products has shown positive changes, with medium and high-quality white rice and fragrant rice accounting for a growing percentage, and low-quality white rice decreasing. In the first eight months of 2018, low-quality white rice accounted for a mere 2.01 percent of total export volume, while … [Read more...] about Vietnamese rice: Time for serious branding
Vietnam economy steps into the late phase of business cycle: Brokerage
The Hanoitimes - For 2018, Vietnam`s inflation is estimated at 4-4.2% year-on-year. The Vietnamese economy is stepping into the late phase of the business cycle, while FDI corporations alone cannot drive the economy, according to Vietnam Dragon Securities Corporation (VDSC). Illustrative photo. Although there are large-scale private projects, most of them still depends on credit flows. The ratio of total credit to GDP has now reached 164%, the second highest level compared with other regional countries. On top of that monetary policy will be tighter in the next few years. The economy's recent momentum has been driven by domestic consumption. Moreover, Vietnam's macro-stability is being somehow threatened. It is possible to think about cost-push inflation as input costs rose sharply in the past few months. Oil and electricity prices are the main drivers. In addition, food prices surged. Although core inflation is still low, VDSC recorded a slightly stronger … [Read more...] about Vietnam economy steps into the late phase of business cycle: Brokerage
Vietnam establishing itself as safe investment destination: Japan expert
A footwear factory of the Japanese-invested Midori Safety Footwear Vietnam Co. Ltd in the Dien Nam - Dien Ngoc Industrial Park, Quang Nam province (Photo: VNA) Hanoi (VNA) – Professor Ryo Ikebe from the Senshu University of Japan has noted improvements in Vietnam’s economy and the two countries’ economic ties during an interview with Vietnam News Agency on the occasion of the 45 years of diplomatic relations. Ikebe, who formerly served as chief representative of the Japan External Trade Organisation (JETRO) in Hanoi, said Vietnam was originally viewed as an agricultural exporter with strong items like rice, coffee, tea and seafood. However, its export list has expanded to industrial products such as smartphones and automobile spare parts. Vietnam has gradually entered the group of industrial countries by exporting these products. As a result, supporting industries that manufacture components and spare parts will also be promoted to step up … [Read more...] about Vietnam establishing itself as safe investment destination: Japan expert
Vietnam raises $51mn from selling 23% of firm at IPO
The Vietnamese government raised 1.16 trillion dong ($51 million) from selling a 23 percent stake in top rice exporter Vietnam Southern Food Corp (Vinafood II) at an initial public offering on Wednesday, exchange data showed. The company sold all of the 114.83 million shares on offer on the Ho Chi Minh City Stock Exchange. The sale of state-run Vinafood II is part of Vietnam’s broader privatization program to increase efficiency and performance of state-owned enterprises. The program, supported by a strong stock market, will also fill the government’s coffers as public debt nears the mandated ceiling of 65 percent of gross domestic product. Vietnam’s main stock index rose 48 percent last year, making it Asia’s strongest performer. Trading and retailing firm Hanoi Trade Corp said last month it aimed to raise around $43 million by selling a 34.5 percent stake in an IPO on March 30. Vinafood II has rice processing plants with an annual capacity of three million … [Read more...] about Vietnam raises $51mn from selling 23% of firm at IPO