Wholesale trade industry

Hanoi, February 16 (VNA) - Minister of Industry and Trade Tran Tuan Anh has asked the northern provinces of Lang Son and Quang Ninh to resume imports, exports and transport of goods through three sub-border gates in the two localities after a suspension due to the outbreak of the coronavirus disease (COVID-19).COVID-19 in Document No.808/VPCP-KTTH dated February 5, 2020 and Order No.224/CD-TTg dated February 12, 2020.resumption of trade exchange at the international, main and auxiliary border gates in Tan Thanh and Coc Nam of Lang Son province, and the open access pontoon bridge Km 3 4 in Hai Yen ward, Mong Cai city, Quang Ninh province must be made with full prevention measures instructed by the Ministry of Health. … [Read more...] about COVID-19: Border localities asked to resume trade with China

The 2020 business prospects have become gloomy for a range of sectors in the economy as the Covid-19 epidemic in China has disrupted global supply chains. Vietnam is forecast to take the hardest hit due to its heavy dependence on the Chinese market, especially in tourism, farm produce, apparel and footwear industries. … [Read more...] about For certain industries, most eggs are in one basket

In Hanoi, the number of cancelled rooms reached 13,000 (equivalent to more than 16,000 guests) by February 3. Over 7,600 inbound visitors and 7,100 outbounds tourists cancelled tours; meanwhile the operation of transportation enterprises decreased by 30%-50% and the number of tourists to destinations in the capital city also saw a decline of around 30%-50%. The number of visitors to Quang Ninh Province decreased sharply by 90%. Ha Long Bay in the province previously welcomed an average of 12,000 tourists per day, but now only receives around 3,000 guests per day. The figure is forecast to drop even lower in the coming days. Meanwhile, over 500 tourist ships, with over 4,000 employees, are still being maintained, so it is difficult to ensure the economy. Similarly, around 30%-50% of hotels in Lao Cai have witnessed the cancellation of their services. The number of foreigners travelling to Da Nang City has dropped by nearly 70% in the last month and is expected to continue to decrease. … [Read more...] about BUSINESS NEWS HEADLINES FEB. 12

Hanoi (VNS/VNA) - The new trade agreement between Vietnam and the European Union opens many doors for agriculture, according to experts. Nguyen Do Anh Tuan, Director of the Department of International Cooperation, Ministry of Agriculture and Rural Development said the newly-ratified EU-Vietnam Free Trade Agreement (EVFTA) offers plenty of opportunities. He said as the EU imports about 150 billion USD agricultural products each year so the EVFTA would open up a potential market for the local export agricultural products. Tuan told a discussion hosted by the Government Electronic Portal on the EVFTA in Hanoi on February 14 that: “There is room for Vietnamese agricultural products.” Agreeing with Tuan, Chairman of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said: “The EU is a large market with the world's leading purchasing powers and the EVFTA Agreement marks a new phase for Vietnam with favourable conditions for the local enterprises, including the … [Read more...] about EVFTA brings chances and challenges to local agricultural production

New generation free trade agreements (FTAs) have eliminated tariffs for Vietnam’s agro- and fisheries product exports. However, it’s not easy for Vietnamese products to penetrate immediately into the markets of FTA partners. Technical barriers, which make it difficult to enter these markets, cannot be easily overcome overnight. Meanwhile, agro-products of FTA partners can take advantage of the agreements to enter the local market, and Vietnamese agro-products must struggle to keep a foothold on the home ground. … [Read more...] about Joy for all, except farmers