Vietnam’s agro-forestry-aquatic product exports raked in some 19.06 billion USD in the first four months of 2024, up 23.7% year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.

Meanwhile, the country imported 14.32 billion USD worth of these products, resulting in a trade surplus of 4.74 billion USD, a rise of 71.5% year on year.

In April alone, the export value was 5.14 billion USD, an increase of 19.7% from the corresponding time last year, of which main agricultural products made up 2.83 billion USD (up 29.2%); forestry products, 1.39 billion USD (up 18.6%); and aquatic products, 730 million USD (down 1.5%).

In the four months, Vietnam shipped abroad 10.44 billion USD worth of agricultural products, a year-on-year rise of 32.5%; 5.18 billion USD of forestry products, up 22.8%; and 2.68 billion USD of aquatic products, up 4.2%.

Regarding markets, exports to Asia, America, Europe, Oceania and Africa experienced increases ranging from 19.8% to 38.6%. The US, China and Japan remained the three largest buyers of Vietnam's agro-forestry-aquatic products.

To maintain the growth pace, the ministry said it has dealt with market-related issues to facilitate shipments, especially those to China, the US, Japan and the EU, while expanding to new ones like the Middle East, Africa and Islamic countries.

At the same time, it has maximised opportunities generated by free trade agreements, notably the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA)./.

Vietnam eyes 2 billion USD in cassava exports by 2030

Vietnam targets cassava exports at around 1.8 - 2 billion USD by 2030 under a project on sustainably developing the product approved recently by the Ministry of Agriculture and Rural Development.

Accordingly, the country strives for 11.5 - 12.5 million tonnes of the fresh roots by 2030, 85% of which will be deeply processed. Around 50% of the total farming area will apply a sustainable farming process.

By 2030, there will be five key regions for cassava development, namely the northern midlands and mountainous region with an area of 100,000 - 105,000 ha and fresh cassava output of 1.8 - 2 million tonnes, the north-central region 50,000 - 55,000 ha and 1.1 - 1.2 million tonnes, the south-central coast region 85,000 - 90,000 ha and 2.1 - 2.3 million tonnes, the Central Highlands 150,000 - 160,000 ha and 3.5 - 3.7 million tonnes, and the southeastern region 90,000 - 95,000 ha and 3.1 - 3.3 million tonnes.

By 2050, about 70 - 80% of the farming area will a apply sustainable farming process, and over 90% of the fresh root output will undergo deep processing. Vietnam expects to gain about 2.3 - 2.5 billion USD from exporting cassava.

Last year, cassava exports reached 1.3 billion USD.

Statistics of the General Department of Customs showed that Vietnam exported 944.93 tonnes of cassava and its products in the first quarter of this year, worth 430.44 million USD, representing a rise of 15.6% in value over the same period last year.

Notably, China was the largest importer of the root from Vietnam as it purchased 94.2% of the latter's total cassava export volume and 92% of the export value./.

Eight million tourists recorded during just-ended holidays

The tourism sector served about 8 million tourists during the five-days holiday from April 27 to May 1, up 14.2% year on year, the Vietnam National Administration of Tourism under the Ministry of Culture, Sports and Tourism has reported.

Of the tourists, 3.6 million stayed overnight and the average room occupancy at accommodation establishments nationalwide was up to 70%, or even 100% in some coastal destinations.

Most of key tourism destinations such as Sa Pa, Quang Ninh, Thanh Hoa, Phu Yen, Nha Tra, and Ba Ria-Vung Tau recorded a surge in the number of tourists compared to the same period in 2023.

Thanh Hoa topped the country with 1.52 million visitors, a growth of 27.2% year on year, and a revenue of 3.805 trillion VND (152 million USD), followed by Quang Ninh and Khanh Hoa with 1 million and nearly 970,000 visitors, respectively.

However, the scorching weather in the whole country hindered several outdoor activities in mountainous and urban areas. Besides, some destinations recorded a downward trend in the number of visitors compared to 2023 including Da Nang, Phu Quoc, Quang Nam, and Con Dao due to high airfares.

To cope with the situation, travel agencies have offered high quality shuttle buses, train, car, and waterway services in order to reduce costs for tourists while enhancing experiment for them./.

Hà Nội's logistics industry development fails to meet potential

The development of Hà Nội's logistics sector has failed to meet its full potential despite the city's favourable geographic location as the heart of the northern key economic region and quite systematic transport connectivity with road, sea, waterway, railway and air transportation, experts have said.

Currently, about 40 per cent of goods from other localities are being transported through the city. It is home to 10 industrial parks in operation and over 100 industrial clusters. It has also 150 supermarkets, 454 wet markets, and more than 10,000 convenience stores for about 10 million city residents.

Despite these advantages, the city's logistics development faces limitations and obstacles due to a small and fragmented system of warehouses and logistics yards and a lack of specialised storage such as cold and cool storage, according to experts.

A shortage of inland container depots (ICD), high logistics costs and traffic congestion also reduce the competitiveness of businesses.

About 25,000 local logistic enterprises are operating in the city. However, they can only meet about 25 per cent of the local demand, and handle 18 per cent of import-export goods. The remaining shares belong to those with foreign investment.

At the same time, the local logistics industry has been facing many difficulties due to the influence of geopolitics leading to the disruption of international shipping activities, chairman of the Hanoi Logistics Association Trần Đức Nghĩa said.

To facilitate logistics development, Hà Nội will accelerate the construction of logistics infrastructure projects in the area, while actively coordinating with localities at home and abroad to gradually build the city into a logistics operating centre of the northern region.

According to Nguyễn Mạnh Quyền, Vice Chairman of the municipal People's Committee, the city strives to start the construction of two dry ports in Cổ Bi and Đức Thượng communes in 2024, and plans the development of two new logistics centres in Phú Xuyên and Sóc Sơn districts.

Completing investment procedures for an international container port in Gia Lâm District's Cổ Bi and Đặng Xá communes will be also included.

Furthermore, the city will continue to attract domestic and foreign businesses to invest in the logistics sector. Thus far, it has introduced locations for developing nine logistics service infrastructure projects to investors.

Director of the city’s Science and Technology Department Nguyễn Hồng Sơn said that to support the development of logistic activities, the city needed to implement digital solutions and boost investment promotion in logistics service infrastructure projects.

Suggestions were raised to study and build logistics centres of appropriate scale on ring roads, connecting goods transiting hubs, warehouses and distribution areas in production, agricultural, industry, and industrial zones. Another solution was to develop smart transportation systems and digital platforms that connect good owners, transporters and customers.

Sơn also suggested the city promote logistics and connect the capital region to facilitate the transportation and distribution of goods from the city to other localities.

Creating conditions to promote the role of professional associations related to logistics services, and encouraging and attracting major international and domestic logistics service providers to set up headquarters, and branches and transaction offices in the city should be also included, Sơn said.

The plan to develop logistics services in Hà Nội by 2025 sets the goal to develop and support logistics activities to improve the competitiveness of manufacturing and trading enterprises and form a modern logistics system.

The city set a target for its logistics sector to contribute 9-11 per cent to the Gross Regional Domestic Product (GRDP) and obtain a growth rate of 17-21 per cent by 2025. Growth in outsourced logistics will reach 60-65 per cent.

Particularly, the capital city will develop a supply chain and distribution of agricultural products and food, and increase the application of information technology and e-commerce in business operations, including logistics services.

Seminar held to promote Vietnam - Algeria economic relations

The Vietnam Trade Office in Algeria and the Chamber of Commerce and Industry of Algeria’s Annaba province have recently held a seminar to introduce the potential for trade and investment partnerships between the two countries.

Mohamed Biar, Vice President of the Annaba Chamber of Commerce and Industry, briefed participants about his province's economic potential as well as investment opportunities in the fields of commerce, industry, agriculture and tourism.
            
He expressed his hope that Vietnamese companies will invest in Annaba in such areas as aquaculture, mechanical manufacturing, tourism and agricultural product processing.

Addressing the event, Vietnamese Trade Counsellor Hoang Duc Nhuan highlighted the traditional friendship and multifaceted cooperation between Vietnam and Algeria. He wished to further promote bilateral trade and investment cooperation to be on a par with their sound political relations.

Algerian companies expressed their interest in importing aquatic products like tra fish (pangasius), tuna and shrimp, along with steel and railway equipment while exporting agricultural products such as date palm fruit, onion and garlic to Vietnam. They also hoped to collaborate with Vietnamese partners in the mining industry to produce cement and fertilisers and exploit rare earth.

At the seminar, the two sides also sought measures to beef up economic partnerships in the coming time, including promoting the exchange of business delegations, organising more business-matching events, creating favourable conditions for companies to participate in international fairs and exhibitions held in each country, providing market information and introducing business opportunities./.

Difficulties faced in negotiations of power purchase agreements: EVN

There have been difficulties in negotiating power purchase agreements (PPA) between Vietnam Electricity (EVN) and investors of LNG power projects, according to EVN.

A major hurdle was a demand by investors for EVN to commit to long-term purchases of the majority of electricity generated, between 72-90 per cent of the project's capacity. From the investors' perspective, long-term commitments by the EVN help reduce investors' financial risk and gain better leverage with LNG suppliers, which, in turn, help Việt Nam secure a sufficient supply of LNG, at better prices.

However, EVN said the amount of electricity purchased will strictly reflect the negotiations between the group, Việt Nam's sole power distributor, and the investors. In the event they fail to produce a consensus, the prices will be determined by the Ministry of Industry and Trade (MoIT) with consideration given to fair competition for other sources of electricity.

According to EVN, LNG power has remained an expensive product as the cost of imported LNG was reported at US$12-14/1 million BTU, driving its cost to VNĐ2,400-2,800/kWh, significantly higher than other sources of electricity available on the market.

In addition, according to the country's Power Plan VIII, by 2030 Việt Nam's total LNG production will amount to 15 per cent of total power production. Long-term commitments to an expensive product may severely undermine the group's purchasing power and consequently, its retail prices.

In a recent report EVN said: "By agreeing to long-term purchases of costly LNG electricity, the group may have to put itself at financial risk while creating an unfair playground for other suppliers, which have only signed annual supply contracts with the EVN until now. It is also contradictory to the country's development direction for the power market, which aims to reduce long-term contracts in favour of suppliers who can deliver faster."

However, the group stressed the importance of bringing online all LNG power projects by 2030 as failure to do so can hinder the ability to secure supply, creating a supply-demand gap as large as 3 billion kWh a year after 2030. EVN's current proposal to the investors was 65 per cent, which according to the group has taken into consideration their rights and interests.

Another request by the investors was to use third-party PPA regulations as standards (e.g. the UK's PPA Laws) to settle legal disputes, which the group has so far firmly rejected, saying Việt Nam's investment laws and judicial system should be the only applicable standards.

Answering another request by the investors regarding the conversion of revenue generated in VNĐ to foreign currencies, EVN said it was only considered as a precedent in old BOT projects not as a part of PPA negotiation, and more importantly not up to the group to decide.

EVN has submitted a proposal to the Prime Minister with solutions to help speed up the negotiation process with the investors, ensuring LNG projects' progress, and balancing the investors' interests as well as those of the group.

It said so far the group had started negotiations with the Nhơn Trạch 3, Nhơn Trạch 4, Hiệp Phước and Bạc Liêu LNG projects.

In a recent development, the MoIT revealed that it had started a process to review and study EVN's PPA for LNG projects. The ministry said the Government had agreed in principle to bring the amount purchased under long-term contracts to above 70 per cent starting from 2030 during the projects' payback period but not longer than seven years.

According to the ministry, regarding the mechanism for the LNG-importing gas power plant project, organisations and individuals participating in the investment of LNG-powered power plant projects must proactively implement projects as outlined in the Power Development Plan following regulations, ensuring effectiveness, to unify the negotiation, signing, and responsibility for contracts and commercial agreements.

For the mechanism for natural gas-powered domestic power plants, for key projects in the petroleum sector contributing significantly to economic development, ensuring national energy security, national defence, and protecting Việt Nam's sovereignty, the Government agrees in principle to transfer the gas price conversion mechanism to electricity prices for power plants and the MoIT will guide the mechanism for consuming the output of gas from the offshore gas fields of Blue Whale and Lot B. 

Outstanding margin loans reach record high amidst strong equity growth

Vietnamese stock market witnesses a historic high in outstanding margin loans, accompanied by substantial equity growth at securities companies, leading to plans for capital increases amid robust market activity.

Statistics indicate that outstanding margin loans at securities companies are projected to increase by VNĐ23 trillion (US$903.7 million) compared to the end of 2023, reaching approximately VNĐ195 trillion by the end of the first quarter of 2024. This marks a historic high in Vietnamese stocks, surpassing the period in the first quarter of 2022 when the VN-Index reached its peak at 1,500 points.

Despite the surge in margin loans, securities companies have also witnessed a significant increase in equity during the first quarter of the year, driven by robust profit growth and capital raising activities. As of March 31, 2024, the total equity of the securities company group stands at approximately VNĐ235 trillion, reflecting a VNĐ16 trillion increase compared to the beginning of the year. Consequently, the Margin/Equity ratio is estimated to reach around 83 per cent by the end of 2023, the highest level in six quarters.

Regulations dictate that securities companies are not permitted to lend margin exceeding two times their equity capital concurrently. With the current Margin/Equity ratio, securities companies estimate that up to VNĐ277 trillion will be available for margin loans to investors in the near future. However, it should be noted that this is a theoretical calculation, and in reality, the Margin/Equity ratio of the overall market has never reached the 2-times threshold, even during the most active trading periods.

Examining individual securities companies, most of them still have significant room for lending, with Margin/Equity ratios mainly ranging from 100 per cent to 140 per cent. Notably, top companies in terms of equity such as Techcom Securities JSC (TCBS), SSI Securities Inc (SSI), VNDirect Securities Co (VND) and VPBank Securities (VPS) have ratios below 80 per cent. Only a few securities companies, such as HCM City Securities Corporation (HSC) and MB Securities Co (MBS), are facing relatively tight margin situations and are planning capital increases this year.

While securities companies currently do not face significant capital pressure when it comes to margin lending activities, they need to have substantial capital resources to support market upgrading processes, such as accommodating foreign investors who may not be required to deposit 100 per cent before trading in the future. Consequently, most securities companies have plans to increase capital in the 2024-2025 period. Notable names include:

Vietcap Securities Joint Stock Company (VCI) plans to offer over 143.6 million shares to both domestic and foreign investors with financial capacity and professional securities investors. The offering price will not be lower than the book value as of December 31, 2023, which is VNĐ16,849 per share. The funds raised (at least VNĐ2.42 trillion) will be used to supplement capital for margin lending activities (VNĐ2.1 trillion) and proprietary trading activities (VNĐ300 billion).

MB Securities Co (MBS) intends to offer over 109.4 million shares to existing shareholders (with a right exercise ratio of 4:1) at an offering price of VNĐ10,000 per share. Additionally, the company plans to offer a maximum of over 28.7 million shares to fewer than 30 professional securities investors, in compliance with legal regulations, to supplement resources for business activities.

SSI Securities Inc (SSI) plans to issue 453 million shares to increase its charter capital from equity capital. This includes the issuance of 302 million bonus shares at a ratio of 100:20 and the offering of 151 million shares to existing shareholders at a price of VNĐ15,000 per share and a ratio of 100:10. Upon completion, SSI's charter capital is expected to increase to VNĐ19.65 trillion, maintaining its position as the leader among securities companies in terms of charter capital.

VNDirect plans to offer nearly 244 million shares to existing shareholders at a ratio of 5:1, with an offering price of VNĐ10,000 per share. Simultaneously, a stock dividend will be paid at a rate of 5 per cent, corresponding to the issuance of nearly 61 million new shares. If both options are successful, VNDirect's charter capital will increase from VNĐ12.18 trillion to nearly VNĐ15.2 trillion. The implementation is scheduled for 2024, pending approval from the State Securities Commission (SSC).

Ample room for Vietnam-Thailand cooperation in new economic sectors: official

Demand for cooperation between Vietnam and Thailand is continuously expanding and new business opportunities will appear when both countries begin to develop new economic sectors such as green economy, circular economy, and renewable energy, according to Le Huu Phuc, Head of the Vietnam Trade Office in Thailand.

In the context that the two countries are striving to achieve the goals related to climate change response, especially net zero emissions, the Trade Office will make efforts to seek opportunities to connect enterprises in those fields, Phuc said, adding that this is also an inevitable trend and there remains ample room to promote the bilateral cooperation in the future.

Talking to the Vietnam News Agency (VNA)'s resident reporters in Thailand, Phuc shared that the office will focus on local economic cooperation, especially between Northeastern provinces of Thailand, which house a large number of Vietnamese people, and central provinces of Vietnam.

With geographical proximity, cooperation between these two regions can help Vietnam promote trade links with Thailand, especially border trade via Laos; and facilitate access to each other's market through local products under Thailand's OTOP (One Tambon One Product) programme and Vietnam's OCOP (One Commune One Product).

Regarding supply chain connectivity, the official said that the office will promote support for Vietnamese businesses in finding and building agents and expanding commercial presence in Thailand, while introducing and bringing Vietnamese goods to Thai supermarkets through cooperation with large supermarket systems in the country such as Central, Marko and TCC.

It will assist and boost industrial collaboration, especially in the automotive field such as finding and connecting manufacturers of component parts and accessories, added Phuc.

According to the official, the relationship between the two countries is developing fruitfully, creating favourable conditions for the implementation of economic diplomacy in Thailand. Since the establishment of the bilateral strategic partnership in 2013, two-way trade increased by 230% from 9.4 billion USD to 21.6 billion USD in 2022. Last year, the figure reached nearly 19 billion USD.

At present, Thailand is Vietnam's biggest trading partner in the Association of Southeast Asian Nations (ASEAN), while the latter is the former's No. 2 partner, after Malaysia.

Thailand now has more than 700 valid projects in Vietnam with combined investment of nearly 15 billion USD, ranking 9th among foreign investors in the country. Meanwhile, Vietnam's investment in Thailand remains modest with a sum of 32 million USD, focusing on consumer goods and distribution./.

Pangasius exports to US records upturn in March

Vietnamese pangasius exports to the United States brought back nearly US$31 million in value in March, representing an increase of 0.03% year on year and a two-fold rise compared to the previous month, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

This also marked the month that pangasius processors have earned the highest export value in the US market since June 2023.

The country’s pangasius exports to this market during the first quarter of the year also surged by 12% year on year to nearly US$65 million.

China and Hong Kong (China) bought US$36 million worth of the fish from Vietnam in March, up 56% over the previous month but down 44% year on year.

However, four-month pangasius exports to these markets fell 22% year on year to nearly US$112 million due to low demand during the Lunar New Year holiday in China.

Elsewhere, Vietnamese pangasius exports to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market in March dropped by 8% to roughly US$22 million, but saw a rise of 8% to more than US$59 million from January to April.  

Experts pointed out that amid global inflation and conflicts, many countries are seeking stable supply sources at reasonable prices such as Vietnamese pangasius.

In the face of unpredictable economic and political fluctuations globally, local businesses are required to diversify markets, grasp trends, and promote the export of processed products.

Vạn Thịnh Phát Group affiliated companies accumulate over $2b in bond debt

Multiple companies associated with property developer Vạn Thịnh Phát, whose chairwoman has been sentenced to death for financial fraud, have accumulated a total of VNĐ52.4 trillion (over US$2 billion) in bond debt, with more than 30 per cent of the amount currently overdue for repayment.

According to a report by the Ministry of Finance, 24 firms linked to the group have issued over VNĐ138.2 trillion in corporate bonds to raise capital. Only VNĐ85.7 trillion had been repaid towards the principal debt as of the end of 2023.

Among them, An Đông Investment Group Joint Stock Company leads in outstanding debt with over VNĐ25 trillion, followed by other companies such as Bông Sen, Quang Thuận, and Saigon Investment & Development.

These companies had previously been fined for fraud related to bond issuance and trading amounting to trillions of Vietnamese đồng.

The State Securities Commission (SSC) imposed fines on the companies for failing to submit essential information to the stock exchange, resulting in penalties for violations.

Investors who were promised repayment by Tân Việt Securities, the bond issuer and consultant for these companies, have not received any payments, including principal and interest, since the chairwoman’s arrest in late 2022.

A local court in HCM City recently sentenced Trương Mỹ Lan, the group’s chairwoman, to death for multiple financial frauds. She has also been accused of bond fraud involving billions of dollars through fraudulent activities.

Efforts are being made to locate over 42,000 bondholders of corporate bonds issued by the group’s companies.

The corporate bond market is facing challenges as experts have warned repayment pressure will persist this year and in coming years due to financial hurdles faced by issuers, especially property developers.

Measures have been taken by the Ministry of Finance to ensure timely payments by issuers, with actions against auditors who provide subpar audit reports.

The Vạn Thịnh Phát-SCB scandal has significantly impacted investor trust in the market, leading to sell-offs and requests for businesses to repurchase bonds early.

A trial related to bond frauds linked to the group is scheduled to begin in the city this year, according to the police.

Prime Minister Phạm Minh Chính has ordered the central bank and the Finance Ministry to enhance supervision of bond defaults to revitalise the troubled market.

Some 51,600 new firms established in four months

As many as 51,600 new enterprises with total registered capital of nearly 508 trillion VND (20 billion USD) were established in the first four months of 2024, representing year-on-year increases of 3.4% in the number of businesses and 9.3% in the capital, according to the General Statistics Office (GSO).

These new businesses registered a total of 353,800 workers, a rise of 6.8% over the same period last year.

The average registered capital of a new enterprise in the first four months of 2024 rose by 5.7% year on year to 9.9 billion VND.

In April, Vietnam had more than 15,300 newly established enterprises with registered capital of 175.8 trillion VND, up by 8.4% in number of businesses and 55% in registered capital month on month.

The average registered capital of a new enterprise in April stood at 11.5 billion VND, up 42.9% over the previous month.

In addition, 8,307 businesses returned to operation in April, an increase of 175.1% over the previous month.

Along with 533.4 trillion VND from increasing capital of 14,143 existing enterprises, the total registered capital poured into the economy in the first four months was more than 1 quadrillion VND, down 2.6% compared to the same period last year.

The GSO also said that about 29,700 businesses resumed their operation in the first four months, an increase of 2.4% over the same period in 2023, bringing the total number of newly established businesses and businesses returning to operation during the four months to 81,300 units, an increase of 3% over the same period last year.

Meanwhile, in the first four months, the number of enterprises temporarily suspending operation was 60,900, an increase of 21.9% over the same period last year. About 19,100 businesses stopped their operations to wait for dissolution procedures, down 9%, and 6,400 businesses completed dissolution procedures, an increase of 4.9%.

Of which, 7,618 businesses registered in April to temporarily suspend business, an increase of 84.1% compared to the previous month. About 4,656 businesses stopped operation to wait for dissolution procedures, down 6.5%./.

Government proposes extending VAT cut until year end

The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year to support business and production activities.

In its proposal sent to the National Assembly, the Ministry of Finance held that it is necessary to study and propose relevant measures for 2024, including extending the 2% reduction in VAT, the payment deadline for corporate income tax, special consumption tax and personal income tax, and reduction of several fees and land rental, which were applied in 2023.

With the 2% tax cut in the second half of the year, the State budget will be slashed by some 24 trillion VND (nearly 994.7 million USD), or around 4 trillion VND per month.

The tax incentive reduced the government revenues by more than 23.48 trillion VND in H1.

Highlighting the formidable challenges to the economy brought by the COVID-19 pandemic, climate change and natural disasters, the Government said that a wide range of financial measures were implemented during 2020-2023, worth some 700 trillion VND, to prop up the economy./.

Bac Ninh company exports first batch of veterinary medicine to Halal market

Visakan Investment and Biotechnology Development Joint Stock Company (Visakan) on May 2 held a ceremony in the northern province of Bac Ninh to mark its first shipment of veterinary medicine valued at over US$200,000 to Indonesia - a Halal market.

Speaking at the ceremony held at the Dong Tho Multi-Professional Industrial Cluster, Chairwoman of the provincial People’s Committee Nguyen Huong Giang affirmed that the first shipment of veterinary medicine to the Halal market was an important event for the province in particular and Vietnam’s agriculture in general, proving the development of the domestic production of veterinary medicinal products to meet international standards.

The Halal market is considered one of the most demanding markets in the world with a series of strict standards.

Visakan General Director Tran Van Binh said that the exported products consisting of antibiotics and antiseptics are manufactured at NonBetalactam and Betalactam plants certified by the Vietnamese Ministry of Agriculture and Rural Development with WHO-GMP/GLP/GSP certifications.

At the event, Visakan, PT. Ekasapta Wijayatangguh from Indonesia, and De Heus Indonesia, signed a Memorandum of Understanding (MoU) on a collaborative programme for the production and supply chain linkage of veterinary drugs and disinfectants in Indonesia. 

Under the agreement, Visakan will supply quality veterinary products, while PT. Ekasapta Wijayatangguh will manage importation and distribution, and De Heus Indonesia will prioritise using products provided within the collaborative supply chain. 

Visakan, a member of Hung Nhon Group, has had more than 200 products circulated in the domestic market. It signed contracts to supply 23 product lines to 13 countries and territories in the world.

Nearly 55,800 tonnes of agricultural products exported via Lang Son border gate

Nearly 55,800 tonnes of agricultural products were exported via border gates in the northern province of Lang Son during the recent five-day holidays starting April 27.

The Border Gates Management Centre under the Dong Dang-Lang Son Border Gate Economic Zone Management Board announced on May 2 that during the five-day holidays, authorities conducted customs clearance procedures for over 5,300 vehicles, including more than 2,100 vehicles that carried fruits for export. Huu Nghi and Tan Thanh international border gates were still the busiest ones.

During the period, import-export activities at Lang Son province's border gates were stable and smooth as local border gate authorities promptly notified businesses about the time for customs clearance. Employees were assigned to resolve arising problems during the holidays.

Customs units assigned leaders, officers and civil servants to handle customs procedures and guide businesses and goods owners to make online declarations. The border guard force worked around the clock to instruct and direct the flow of vehicles entering and exiting the border gates.

Disbursed FDI capital hits five-year high in first four months

Vietnam’s disbursed FDI capital in the past four months rose 7.4% over the previous year’s corresponding period to US$6.28 billion, the highest in the past five years, according to the General Statistics Office.

Manufacturing and processing took the lead, with US$4.93 billion worth of FDI capital disbursed. It was followed by real estate with US$607.6 million, and the production and distribution of electricity, gas, hot water, steam, and air conditioning with US$259.8 million.

Meanwhile, Vietnam attracted nearly US$9.27 billion in FDI capital as of April 20, representing a 4.5% rise over the same period last year.

Processing and manufacturing lured the largest FDI capital of nearly US$5 billion, accounting for 70.2% of the total newly registered capital. Real estate came second with US$1.6 billion, and other industries received US$519.6 million.

Singapore was the largest investor throughout the four-month period, contributing US$2.59 billion. It was followed by Taiwan, Turkey, China, Japan, and Hong Kong (China).

The General Statistics Office also reported that as many as 345 projects registered to adjust their investment capital by an additional US$1.23 billion.

Furthermore, there were 902 registered capital contributions and share purchases by foreign investors with a total capital contribution value of US$929.6 million.

Forum discuses orientations for Vietnam-Australia digital cooperation

The Australia-Vietnam Young Leaders Dialogue Network hosted a digital technology forum in Melbourne on May 2 to map out orientations for digital cooperation between Vietnam and Australia.

More than 160 representatives from relevant ministries, associations, and businesses from both countries outlined information about digital economies, emerging technologies, trends and development prospects for artificial intelligence, blockchain, cybersecurity, sustainable development, and education.

Jonathan Saw, Australian Trade Commissioner in Vietnam, affirmed that Vietnam represents a potential market for Australian digital technology businesses, and its digital economy is estimated to be worth between AUD180 billion and AUD300 billion.

The country is also considered to have the fastest growing digital economy in Southeast Asia, meaning that Australian technology firms will have huge opportunities to engage in the country’s ongoing digitalisation process, especially in areas such as cybersecurity, financial technology, agricultural technology, educational technology, smart cities, and infrastructure, he noted.

Tran Van Binh, chief of the Operations Management Office of the National Center for Innovative Startup Support, said that Vietnam is focusing on developing its digital economy and facilitating the operations of businesses in the field of innovation and digital technology.

The event has provided an ideal venue for policymakers, businesses and experts to examine ways of strengthening linkages among innovation ecosystems of the two countries, as well as enhancing ties in the digital field moving forward, he added.

At the forum, representatives of the Vietnam Blockchain Association and the Australian Blockchain Association signed a memorandum of understanding on future cooperation.

April sees drop in automobile imports

Vietnam spent approximately US$244 million on importing 12,500 completely-built automobiles (CBUs) throughout April, down 21.2% in volume and 26.1% in value compared to March, according to the General Department of Vietnam Customs.

Meanwhile, March witnessed the country import 15,860 CBUs worth over US$330 million, up 64.3% in volume and 62.5% in value compared to February.

Statistics also indicate that the total import of CBUs during the first four months of the year stood at an estimated 44,772 units valued at US$919 million, down 17.6% in volume and 24.2% in value year on year.

In April, the sales of domestically assembled cars reached 25,700 units, up 3.6% against March and up 5.2% compared to April last year.

Moreover, during the January to April period, sales of domestically-assembled cars reduced by 6.6% year on year to 88,300 units.

Petrol prices see mixed changes, oil prices down

The retail price of RON 95 petrol was revised up while prices of diesel and kerosene were slashed from 3pm on May 2 by the Ministry of Industry and Trade, and the Ministry of Finance.

Accordingly, the price of RON 95 rose by VND40 per litre to VND24,950 while that of E5 RON 92 remained unchanged at VND23,910 per litre.

Meanwhile, diesel and kerosene were sold at VND20,600 and VND20,540 per litre, down VND110 and VND140, respectively.

Mazut oil is now priced at VND17,660, rising by VND260 per kilogramme.

In the latest price adjustment, the two ministries decided not to use the petrol and oil price stabilisation fund.

Since the beginning of the year, petrol prices have undergone 17 adjustments, with 10 up and 7 down.

Dong Nai, RoK’s Gyeongnam province cooperate in labour training

The southern province of Dong Nai and the Republic of Korea (RoK)’s Gyeongnam province signed a series of agreements on May 2 to deepen collaboration in labour and human resources training.

During a working session in Dong Nai, Acting Chairman of the provincial People’s Committee Vo Tan Duc and Governor of Gyeongnam province Park Wan Soo signed a cooperation agreement on behalf of their respective provinces.

Authorities of Dong Nai’s Thong Nhat district and Gyeongnam’s Geochang district also established a labour agreement while Dong Nai University and Gyeongnam Geochang inked another agreement on human resources training, with a focus on Korean language skills.

The agreements pave the way for Dong Nai to send seasonal workers to Geochang to support the agricultural sector. Additionally, they establish a framework for Dong Nai to export skilled workers to Gyeongnam in industries like automotive, aerospace, aviation, and manufacturing.

Nguyen Hong Linh, Secretary of the Dong Nai provincial Party Committee, highlighted the province's attractiveness to foreign investors, with projects from 43 countries and territories currently operating there. Korean enterprises lead the pack in terms of foreign direct investment (FDI) volume and value in Dong Nai, with a total investment of nearly 7.3 billion USD.

Governor Park lauded the robust and friendly cooperation between the two localities over the past 28 years, wishing that they would intensify collaboration in various areas for mutual benefit./.

Hai Duong-based station becomes part of international rail route

The first cargo train departing from Cao Xa Station in Cam Giang district in the northern province of Hai Duong to join an international rail route was put into operation on May 2.

This event turned Cao Xa Station, part of the Hanoi - Hai Phong rail route, into a freight hub in the cargo transport railway network in Vietnam as well as international transport.

According to the Vietnam Railways Corporation (VNR), the Hanoi - Hai Phong rail route's section passing through Hai Duong spans 46 km and comprises six stations. With its advantageous geographical location along with close proximity to major industrial parks and the centre of Hai Duong city, Cao Xa Station was upgraded into a facility for international transport. It is the second, after Kep Station in northern Bac Giang province, that the VNR has renovated to bring border gates deeper into the inland.

With this move, there will be two railway routes – Cao Xa - Yen Vien (Hanoi) - Dong Dang (the northern border province of Lang Son) and Cao Xa - Yen Vien - Lao Cai (the northern province of Lao Cai), which directly connect with the railway systems of China and other countries along the Asia - Europe railway transport route. They will help logistics service providers reduce costs and transport time.

Chairman of the Hai Duong People’s Committee Trieu The Hung described Cao Xa Station’s involvement in the international transport route as a milestone in the development of the province's railway sector and opens up many new opportunities for businesses.

Addressing the event, VNR General Director Hoang Gia Khanh said the firm will introduce international transport services by train to businesses and partners, both domestically and internationally, thus promoting the transport of goods to and from Hai Duong through Cao Xa Station.

After the inauguration ceremony, a train carrying 12 containers of goods produced in Hai Duong, Hai Phong, and Hung Yen departed for Yen Vien Station in Hanoi's Gia Lam district, where the goods will be loaded onto other trains for export to China./.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes