Vietnam sees sharp increase in face mask export revenue

Vietnam has exported VND60bn (USD2.6m) worth of face masks in the past days amid coronavirus outbreak.

Vietnam sees sharp increase in face mask export revenue


According to the General Department of Vietnam Customs, the face mask export value since early 2020 is five times higher than the import value. 30% of the masks that worth VND20bn (USD858,000) were exported to China.

Vietnam has imported VND12.2bn worth of face masks but exported VND60bn worth. Face masks are becoming more expensive and rare.

About four million face masks that worth USD92,100 were exported to China via border trades in Lang Son Province.

 

The Ministry of Finance recently held a meeting to issue a directive about tax exemption and required conditions for face masks and materials during the outbreak.

The coronavirus outbreak killed 630, mostly in China, with a total of 31,161 confirmed cases. Vietnam has confirmed 12 cases. Dtinews

Hanoi people queued to buy face masks

Hanoi people queued to buy face masks

Many people in Hanoi have queued up outside mask shops on February 6 in order to buy masks.

Gov't to cut tax for mask production and imports

Gov't to cut tax for mask production and imports

The coronavirus outbreak in China and solutions to promote trade with Vietnam were discussed at a meeting of the National Steering Committee for ASEAN Single Window (ASW), National Single Window (NSW)

 
 

Other News

.
Vietnam Airlines to buy more aircraft despite big losses
Vietnam Airlines to buy more aircraft despite big losses
BUSINESSicon  26/06/2020 

The national flag air carrier is still moving ahead with its plan to buy 50 narrow-body aircraft, though it has reported a loss of VND2.6 trillion in Q1.

Vietnam's footwear firms forced to lay off workers due to Covid-19
Vietnam's footwear firms forced to lay off workers due to Covid-19
BUSINESSicon  26/06/2020 

The coronavirus pandemic has left tremendous impact on Vietnam's footwear industry, with the lack of production orders and the consequent drop in exports forcing them to lay off employees. 

PM approves suspension of Bac Van Phong SEZ plan
PM approves suspension of Bac Van Phong SEZ plan
BUSINESSicon  25/06/2020 

PM Nguyen Xuan Phuc has approved the suspension of a master plan to develop the Bac Van Phong special economic zone in Khanh Hoa Province until the National Assembly agrees to pass the law on special administrative and economic zones.

Orientations put Hanoi onto investment radar
Orientations put Hanoi onto investment radar
BUSINESSicon  25/06/2020 

Amidst the global trend of investment shifts, Hanoi is betting on new orientations and solutions to increase its appeal, expecting to open opportunities for international investors to venture further afield.

EVFTA promises an enhanced Vietnam
EVFTA promises an enhanced Vietnam
FEATUREicon  25/06/2020 

The National Assembly has passed the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement, ushering in a new economic, trade, and investment co-operation outlook for both Vietnam and the EU.

VietinBank to sell 50 percent of capital in Vietinbank Leasing
VietinBank to sell 50 percent of capital in Vietinbank Leasing
BUSINESSicon  25/06/2020 

Vietinbank (CTG) has approved a plan to sell 50 percent of its holdings in the bank’s financial arm Vietinbank Leasing Company Limited.

Circular about origin rules in EVFTA issued
Circular about origin rules in EVFTA issued
BUSINESSicon  25/06/2020 

Minister of Industry and Trade Tran Tuan Anh has signed Circular 11/2020/TT-BCT about rules of origin in the European Union – Viet Nam Free Trade Agreement (EVFTA).

Vietnamese retailers need support as EVFTA takes effect
Vietnamese retailers need support as EVFTA takes effect
BUSINESSicon  25/06/2020 

The opening of the domestic market as committed in the EU – Vietnam Free Trade Agreement (EVFTA) will lead to the strong penetration of foreign businesses to expand their retail chains in the country.

Sands shifting as pandemic shakes up geopolitical arena
Sands shifting as pandemic shakes up geopolitical arena
BUSINESSicon  25/06/2020 

With the current upheaval taking place around the world due to the coronavirus pandemic, how can geopolitical frictions between the major powers impact nations like Vietnam that are looking to attract top investment?

Encouraging biomass energy to buttress turn to renewables
Encouraging biomass energy to buttress turn to renewables
BUSINESSicon  25/06/2020 

Biomass has the potential to be a critical portion of Vietnam’s renewable change. 

Thai billionaires experiencing tough days in Vietnam
Thai billionaires experiencing tough days in Vietnam
BUSINESSicon  25/06/2020 

The completion of M&A deals with Thai investors has been followed by a succession of tough days in Vietnam, reported Nhip Cau Dau Tu.

Why does SCIC want to invest in Vietnam Airlines?
Why does SCIC want to invest in Vietnam Airlines?
BUSINESSicon  25/06/2020 

The State Capital Investment Corporation (SCIC) has asked for permission to become involved in the restructuring of Vietnam Airlines after Covid-19 and become a shareholder of the corporation.

Climbing the value chain to maximise investment
Climbing the value chain to maximise investment
FEATUREicon  25/06/2020 

In general, foreign investors are seeking safe, stable investment environments with established real estate market practices, rule of law, and structured land ownership, with available financial support from banks.

Office segment resilient amid health emergency struggles
Office segment resilient amid health emergency struggles
FEATUREicon  25/06/2020 

In the first months of 2020, the office segment remained resilient in both Hanoi and Ho Chi Minh City admit the impacts of the COVID-19 pandemic.

Revenue risk to be applied sparingly
Revenue risk to be applied sparingly
BUSINESSicon  25/06/2020 

Vietnam will, for the first time, apply revenue risk allocation for public-private partnership initiatives from early 2021, but the application will be restricted to certain projects to ensure bankability.

Lang Son proposes new construction plan for $330 million Huu Nghi-Chi Lang Expressway
Lang Son proposes new construction plan for $330 million Huu Nghi-Chi Lang Expressway
BUSINESSicon  24/06/2020 

Lang Son People’s Committee has submitted the construction plan of Huu Nghi-Chi Lang Expressway to the Ministry of Planning and Investment

Hundreds of VinMart+ stores will be closed
Hundreds of VinMart+ stores will be closed
BUSINESSicon  24/06/2020 

Under the management of Masan, hundreds of VinMart+ convenience stores will be closed this year.

National Assembly doubles down on 2020 targets
National Assembly doubles down on 2020 targets
BUSINESSicon  25/06/2020 

Despite massive difficulties hitting the economy, the National Assembly has decided not to adjust socio-economic goals for 2020, especially the growth rate, saying efforts would be made to attempt to realise them.

Alliance of airlines, travel and hotels to boost domestic tourism
Alliance of airlines, travel and hotels to boost domestic tourism
BUSINESSicon  24/06/2020 

Deals among airlines, travel companies and hotels are expected to help boost tourism as the sector deals with the ravages of the coronavirus (COVID-19) pandemic.

Consumer buying habits change as online purchases increase in Vietnam
Consumer buying habits change as online purchases increase in Vietnam
BUSINESSicon  24/06/2020 

More food products have been bought online since the COVID-19 outbreak, online sellers have said.

 
 
 
Leave your comment on an article

OR QUICK LOGIN