Deputy Prime Minister Le Minh Khai has signed a decision approving the public debt strategy until 2030, which sets a target of keeping it at under 60 percent of the GDP and Government debts not exceeding 50 percent of the GDP in 2030.

Government’s direct debt obligations are expected to not exceed 25 percent of the annual total State budget collection and the national foreign debt obligations, to be below 45 percent of the GDP, according to the scheme.

Governmental bonds will be issued regularly with standard terms, focusing on at least five years in terms, while bonds with terms of less than five years will also be issued flexibly, along with foreign-currency bonds in the domestic capital market to meet the capital mobilisation demands and to complete targets in developing Government bond market.

International bonds will be issued to make up for the annual State budget overspendings on development investment and restructure the Government’s debts in favourable market conditions.

At the same time, efforts will be made to disburse ODA capital and foreign soft loans that Vietnam had borrowed until the end of 2020. New loans will be borrowed for major sectors, prioritising projects that directly promote growth and sustainable development.

The decision took effect from April 14, replacing the decision issued by the Prime Minister on July 27, 2012.

Vietnam’s rice export turnover up 10.5 percent in Q1

Vietnam exported 1.14 million tonnes of rice worth 715 million USD in the first quarter of 2022, up 24 percent in volume and 10.5 percent in value year-on-year, according to the Ministry of Agriculture and Rural Development.

The traditional markets of the Vietnamese food crop such as the Philippines, Malaysia and China still recorded stable growth in the period.

The Vietnam Food Association (VFA) reported that the export price of Vietnamese rice on April 13 was the top among the large major rice exporting countries.

In the last quarter, Vietnamese businesses mainly delivered rice to the Philippines under contracts signed last year, but many signs show that the demand is positive.

Since the European Union – Vietnam Free Trade Agreement (EVFTA) came into effect, the export price of Vietnamese rice to the EU has increased by 10 - 20 USD/tonne. According to the EU statistical office Eurostat, among the supplies for the bloc, rice from Vietnam saw the highest price with an increase of more than 20 percent.

Tuna export maintains high growth in Q1

Tuna export has maintained a high growth rate in the first months of 2022 despite strong fluctuations in the world market over the past more than one year, partly thanks to free trade agreements that Vietnam has signed. 

Customs statistics showed tuna export value leaped 108 percent year-on-year in January to 88 million USD. The rate slowed down in February but still at a high 57 percent and a value of 67 million USD, almost double the figure in February 2019 when the COVID-19 pandemic had not started.

The growth in March remained stable, pushing the export earnings for the first quarter to over 230 million USD, up 53 percent on a yearly basis. 

The Vietnam Association of Seafood Exporters and Producer (VASEP) the good growth of tuna export to the industry’s success in utilizing tax advantages in European and Asia-Pacific markets created by free trade agreements to which Vietnam is a member, such as the Vietnam-EU FTA (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Mollusc exports increase by 24%

Vietnam posted strong growth in mollusc exports in 2021 and the first quarter of this year. The Directorate of Fisheries considers these to be among the country’s key export commodities.

Figures from the Directorate of Fisheries show that total export turnover for molluscs reached more than 125 million USD in 2021. Clams totalled over 107 million USD, scallops more than 12.3 million USD, and oysters over 5.6 million USD.

In the first quarter, exports rose 24 percent to over 30 million USD, in which clams alone were estimated at nearly 20 million USD, up 40 percent year-on-year.

Analysts have forecast that exports will continue to increase in the months to come. Vietnam’s mollusc products are now exported to 67 countries and territories around the world.

Nine "Made in Vietnam" modules delivered to Malaysia’s Sarawak Refinery

Nine first “Made in Vietnam” modules weighing 709 tonnes in total manufactured by Doosan Vina were delivered to Malaysia’s Sarawak Refinery of Malaysia on April 14 after nine month of production.

Of the modules, the largest weighs 118 tonnes, is 43m long, 13,7m high and 11,5m wide. Once the installation is finished, these modules will become a complete oil and gas pipeline system at the Methanol plant of the Sarawak Petrochemical Refinery.

The Sarawak project was signed with the SECL on June 4, 2021 involved the manufacturing and supply of nearly 10,000 tonnes of equipment including steel structures, pipes and racks of the power system that are formed into 34 modules and one reformer for the Methanol plant of the Sarawak Petrochemical Refinery (with a capacity of 5,000 tonnes of chemical products per day), located in the coastal city of Bintulu in Sarawak state, Malaysia.

As planned, the whole project will be manufactured in 15 months with five shipments and about to finish in November 2022.

Vietnam keen on boosting logistics partnership with RoK

Stronger partnership between Vietnam and the Republic of Korea (RoK) in logistics, along with measures to encourage the transfer of technologies between the two sides, will help improve Vietnam's capacity in the field and contribute to turning Vietnam into an industrialised country in modern direction, said Director of the Vietnam Trade Promotion Agency (Vietrade) Vu Ba Phu.

Addressing a policy dialogue on logistics sector held by the Vietrade and the Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi on April 14, which was part of the 31st Vietnam Expo, Phu said that Vietnam currently has 69 logistics centres in different scales, mostly in industrial parks.

A number of localities such as An Giang, Ba Ria-Vung Tau, Bac Ninh,  Cao Bang, Da Nang and Quang Ninh are calling for investment in their logistics sector, he noted.

At the event, Kim Sammo, General Director of Kukdong Logistics and President of the Korea Logistics Association, said the number of Vietnamese logistics firms rose from 37,000 in 2017 to 41,000 in 2020 and is continuing to rise. The Vietnamese logistics sector is forecast to increase over 13 percent per year until the end of 2022 and in the future thanks to stronger foreign investment and the application of modern technologies as well as e-commerce activities.

He held that in order for Vietnamese and Korean firms to grasp cooperation opportunities, it is necessary to form an Electronic Data Interchange (EDI) system and standardise logistics infrastructure services with standard prices to win consumers’ confidence.

Dinh Huu Thanh, CEO of Bee Logistics Corporation underlined the need for managing agencies to give detail directions in administrative procedures to facilitate cooperation in the field, while speeding up administrative reform in e-commerce.

According to Tran Thanh Hai, Deputy Director of the MoIT’s Import-Export Department, amid high rises in logistics cost, Vietnam has cut down environmental protection tax on petrol to support economic sectors, including logistics.

Meanwhile, Nguyen Cong Bang, Deputy Director of Transport Department under the Ministry of Transport said that the ministry has formed a working group to make evaluation on impacts of petrol prices on the sector for timely solutions.

VinFast cooperates with Electrify America to provide charging services for electric vehicles in US

Vietnamese automaker VinFast and Electrify America, the largest open ultra-fast charging network in the US, on April 13 (New York time) announced an agreement to provide owners of VinFast electric vehicles with charging services, plus two complimentary charging sessions.

The agreement, which was signed within the framework of the New York International Auto Show (NYIAS 2022), is expected to bring a complete driving experience to customers, contributing to accelerating the global electric vehicle revolution.

Electrify America has 800 EV charging stations and about 3,500 individual chargers open or with construction completed. Combined with Electrify America's ultra-fast charging technology – including 150kW and 350kW chargers, the fastest speeds available today – VinFast owners can feel confident taking their vehicles on long road trips and daily driving needs.

As more electric vehicle options become available to consumers, it's important to have easy access to fast and convenient charging while on the road, said Rob Barrosa, Senior Director of Sales, Business Development & Marketing of Electrify America. 

Vietnam - Asia digital transformation summit slated for May

The Vietnam - Asia Digital Transformation Summit (Vietnam - Asia DX Summit) 2022 is set to take place on May 24 - 25, aiming to create chances for connecting localities with tech firms, and Vietnam with other Asian countries in this regard.

Fringe activities include an exhibition on outstanding digital transformation platforms and solutions, a training programme for small- and medium-sized enterprises, a talk with experts, and a programme to connect agencies, localities, and domestic and foreign firms in digital transformation, she added.

The event is expected to draw 3,000 guests participating in person and over 10,000 others via videoconference.

Vinfast to partner with Amazon in voice integration into electric vehicles

Vietnamese automaker VinFast is aiming to co-operate with Amazon to integrate their Alexa voice experience into its vehicles, according to PR Newswire, the premier global provider of multimedia platforms.

The plan was announced at the 2022 New York International Auto Show (NYIAS 2022) and will see Alexa services integrate into the VF 8 and VF 9 all-electric SUVs.

The Alexa in-vehicle experience has been designed to be an extension of the Alexa experience at home, including car control, navigation, and other skills, all of which are designed for on-the-go circumstances, such as finding parking spaces.

Kinder chocolate products to be recalled in Vietnam

The Ministry of Industry and Trade (MoIT) has proposed the recall of Italian chocolate producer Ferrero's Kinder chocolate products in the Vietnamese market due to links with salmonella.

The move comes following the MoIT sending an official dispatch to the Vietnam Retailers Association, the Vietnam Market Development Association, and food distribution businesses to provide information relating to food products that do not meet relevant food safety standards.

According to the dispatch, a number of international food safety management agencies and Ferrero Company have warned that some Kinder chocolate egg products manufactured by Ferrero International S.A. in Belgium have been recalled in the UK market due to a potential salmonella contamination.

Furthermore, the Department of Science and Technology under the MoIT has also requested that the Department of Domestic Market co-ordinate with relevant units, including supermarkets, wholesalers, and retailers, to avoid selling these products until there is a new announcement from the MoIT.Earlier, after Ferrero Company recalled a number of Kinder Surprise chocolate eggs in the UK market, the MoIT ordered food inspections to be conducted on imported Kinder chocolate eggs and bars within the domestic market.

First quarter tuna exports enjoy high growth

Vietnam’s tuna exports maintained a high growth rate during the opening months of the year, despite strong fluctuations in the global market over the past year, partly thanks to opportunities gained from numerous free trade agreements (FTAs).

Customs statistics indicate that the tuna export value climbed by 108% on-year in January to reach US$88 million. This rate slowed down in February but was still at a high 57%, fetching US$67 million, almost double the figure in February, 2019, when the COVID-19 pandemic had not yet broken out.

Growth in March remained stable, duly pushing the export earnings for the first quarter to more than US$230 million, representing an annual rise of 53%. 

The Vietnam Association of Seafood Exporters and Producer (VASEP) put down the positive growth of the tuna export to the industry’s success in utilizing tax advantages in European and Asia-Pacific markets created by free trade agreements to which Vietnam is a member. This includes trade deals such as the Vietnam-EU FTA (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

This can be seen due to the strong increases in terms of exports to both the EU and CPTPP markets, such as Belgium, up 163%, the Netherlands, up 114%, Chile, up 99%, and Canada, up 52%. Indeed, Netherlands has risen from fourth place to the top position among European importers of Vietnamese tuna.

Vietnam’s rice export turnover up 10.5% in Q1

Vietnam exported 1.14 million tonnes of rice worth US$715 million in the first quarter of 2022, up 24% in volume and 10.5% in value year-on-year, according to the Ministry of Agriculture and Rural Development.

The traditional markets of the Vietnamese food crop such as the Philippines, Malaysia and China still recorded stable growth in the period.

According to the ministry, the food demand in the world is forecast to continue increasing, with many signals showing that businesses can make good use of opportunities from the markets as well as free trade agreements (FTA) to help boost export.

The Vietnam Food Association (VFA) reported that the export price of Vietnamese rice on April 13 was the top among the large major rice exporting countries.

In the last quarter, Vietnamese businesses mainly delivered rice to the Philippines under contracts signed last year, but many signs show that the demand is positive.

Since the European Union – Vietnam Free Trade Agreement (EVFTA) came into effect, the export price of Vietnamese rice to the EU has increased by US$10-20/tonne. According to the EU statistical office Eurostat, among the supplies for the bloc, rice from Vietnam saw the highest price with an increase of more than 20%.

Vietnam – Asia Digital Transformation Summit 2022 slated for May

The Vietnam – Asia Digital Transformation Summit 2022 themed “Digital Transformation Synergy” is due to take place from May 24 to 25 via a virtual and direct platform in Hanoi, announced the Vietnam Software and IT Services Association (VINASA) at a press conference on April 14.

Along with a series of seminars and exhibitions, training programmes on digital transformation will also be delivered during the event in an effort to support small and medium-sized enterprises.

There will be a Q&A session on digital transformation.to be held between experts and representatives from numerous local and foreign enterprises.

The event is expected to attract 13,000 delegates via direct and online platforms and will serve to further strengthen linkages and co-operation for mutual development between domestic and international digital technology enterprises.

VN eyes green agriculture, private sector plays key role   

The Vietnamese Government is giving priority to promoting green agriculture, Deputy Minister of Agriculture and Rural Develop Phung Duc Tien said, stressing the important role of the private sector in reducing carbon emissions and enhancing climate change adaptation.

Tien spoke at a workshop coorganised by the ministry and the International Finance Corporation (IFC) on Wednesday in Ha Noi, saying that Viet Nam needed to make great efforts, not only from the Government but also from private enterprises, to unlock investment resources in transforming the production model from resource-intensive to green.

Tien said that the agriculture sector had been the mainstay of the country’s economy in the context of the COVID-19 pandemic and climate change, which helped ensure food security and poverty reduction and generated 15 per cent of GDP.

However, the sector was facing a number of challenges and difficulties, including exhausted resources, environmental degradation, climate change and changes in global consumer trends, Tien said, adding that not only was it heavily affected by climate change, the agricultural sector was also a significant source of greenhouse gas emissions.

He cited statistics in 2016 that agricultural production accounted for 13.9 per cent of the country’s total greenhouse gas emissions.

At the United Nations (UN) Food Systems Summit, Viet Nam set the target of becoming a transparent, responsible and sustainable food producer and supplier which met food security and nutrition requirements for the population of 100 million people and for export.

Good year forecast for tra fish exports   

The export of tra fish (pangasius) has been reviving strongly since the beginning of the year, driven by significant increases in prices and demand.

Statistics of the General Department of Customs showed that tra fish exports rose by 88 per cent in the first quarter of this year to reach US$646 million and accounted for 27 per cent of the country’s total export of seafood.

The tra industry had been badly affected by the pandemic, which caused stagnation in farming and processing and disruptions in export.

Tra exports fell from $2.26 billion in 2018 to $2 billion in 2019, $1.49 billion in 2020 and $1.6 billion in 2021.

Exports to key markets posted three-digit growth rates, including the US – the largest tra fish importer of Viet Nam, by 120 per cent to $94.6 million, and Hong Kong by 240 per cent to $86 million.

The Viet Nam Association of Seafood Exporters and Producers (VASEP) predicted that tra fish exports would expand by more than 50 per cent in the second quarter.

VASEP pointed out that tra fish prices increased sharply from the beginning of this year to around VND30,000 ($1.3), about VND10,000 higher than the end of 2021.

To Thi Tuong Lan, deputy general secretary of VASEP, forecast that tra exports this year would increase by around 20-25 per cent against 2021.

According to Agriseo Research, tra fish prices would continue to increase as the demand in the import market remained high while the supply was limited.

Tra prices dropped sharply from the peak in 2018 due to an excess of supply over demand, pushing down prices from VND30,000 to VND19,000, which together with a disruption in the supply chain caused by the impact of the COVID-19 forced farmers to close their ponds.

This led to a shortage of tra in the first months of this year.

VASEP predicted that the shortage of tra might last to the end of the second quarter.

However, VASEP noted that farmers should have appropriate plans for tra farming to ensure supply and demand balance and prevent oversupply as happened in 2018.

A number of tra companies are set for high profits this year.

The International Development and Investment Corporation targets earning VND900 billion after-tax profit in 2022, 6.6 times higher than in 2021.

Cuu Long Fish Joint Stok Company is set for pre-tax profit at VND200 billion, four times higher than 2021.

Vinh Hoan Corporation set revenue targets of VND13 trillion, 44 per cent higher than 2021 and an after-tax profit of VND1.5 trillion, 36 per cent higher.

Australian Ambassador visits Blackstone Minerals nickel mine in Son La   

Australia’s Ambassador to Viet Nam Robyn Mudie has visited one of Australia's largest private investments in the country - Blackstone Minerals mining project in Son La Province.

The visit on Wednesday was an opportunity for the ambassador to witness the signing of a joint statement between Blackstone Minerals and Son La PPC, in which Blackstone Minerals commits to sustainable mining and a deepening of their investment in nickel mining projects in the province.

Blackstone Minerals has made significant investment into Viet Nam and the local communities in Son La Province, with a total investment worth US$12.6 million. Their projects in the province have created more than 300 new local jobs and provided vocational training for high skilled local workers and transferred technology and skills to Son La's local government geophysical division’s staff on modern methods in ground electromagnetic surveys.

The visit to Blackstone Minerals included a tour of the nickel mine in Ban Phuc, where Blackstone is applying Australia’s world leading modern mining and extractive technologies, and quality control processes with high safety and good environmental stewardship.

Securities companies set mixed earning targets this year   

After strong growth in 2021, securities companies have set mixed earning targets this year.

Achieving pre-tax profit of VND534 billion (US$23.3 million) last year, Viet Dragon Securities Co (VDS) sets a pre-tax profit target of VND504 billion this year, down 5.5 per cent. This plan is based on the forecast that VN-Index this year fluctuates around 1,340-1,750 points and the average liquidity is VND25 trillion to VND30 trillion per session.

FPT Securities Joint Stock Company (FTS) sets a revenue target of VND1.09 trillion this year, down 3.7 per cent year-on-year and pre-tax profit down 6.3 per cent, to VND680 billion. Viet Capital Securities (VCI) approved the plan with revenue of VND3.24 trillion, down 13 per cent and pre-tax profit of VND1.9 trillion, a slight increase of 2.7 per cent compared to 2021.

Some other securities companies have set more optimistic targets.

Thanh Cong Securities Joint Stock Company (TCI) set a profit target of VND222 billion, up 2.3 per cent.

Smart Invest Securities (AAS) expects revenue to reach VND1.2 trillion, up 25 per cent, profit after tax is estimated at VND480 billion, up 27 per cent. Phu Hung Securities (PHS) plans to achieve revenue of VND604 billion and profit after tax of VND160.5 billion, up 19 per cent and 14 per cent, respectively from the previous year's results.

After restructuring and witnessing strong growth, Tien Phong Securities (TPS) sets a revenue target of VND1.98 trillion, profit before tax of VND500 billion, up 46 per cent and 85 per cent, respectively compared to 2021.

According to Viet Capital Securities (VCI), the VN-Index will reach 1,550 points by the end of 2022.

As for AAS, it is expected that the entire amount of money raised will be allocated to the company's activities, including investing in valuable papers in the market, margin trading and securities underwriting and issuance activities.

Securities companies are actively adding financial capacity, because, in addition to increasing the ability to provide margin, it also opens up business opportunities in other areas, with many other products.

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