Those chains also supply safe and quality farming products for both the domestic and foreign markets.
The agricultural production chains play an important role in the sustainable development of the agricultural economy, said Nguyen Thi Thu Hang, head of the Division of Quality, Processing and Market Development under the Hanoi Department of Agriculture and Rural Development.
According to the Hanoi Department of Agriculture and Rural Development, the capital city has 159 safe agricultural and food product chains, notably the Khu Chay rice chain, A-Z pork and the Van Duc and Thanh Ha safe vegetable chains.
There are many effective linkage models under the production chains, such as a high-quality rice production chain in Ung Hoa district and another safe vegetable production system in Thanh Tri district.
The production chain model has changed people's thinking from small-scale production to production linkage, focusing on applying safe production processes, meeting VietGAP standards and following the increasing demand of domestic and foreign markets.
The Thanh Ha Agricultural Production and Service Cooperative in Thuong Tin district has invested in a closed high-tech vegetable production chain with an area of 1.15ha and is also linked with other farming production cooperatives in the area to supply the domestic market with nearly one tonne of vegetables and fruits per day, said director of the cooperative Bui Thi Thanh Ha.
"Linking from production to consumption with farmers helps the cooperative control the quality of vegetables and the variety according to market demand," Ha said.
In the 2024 spring crop, the Doan Ket Production and Service Cooperative in Ung Hoa district produced Japonica rice and high-quality rice meeting export standards over an area of 100ha, said Cao Thi Thuy, the director of the cooperative.
To maintain the effectiveness of linkage in the rice production chain, the cooperative has signed contracts with 2,181 households in ten cooperatives in neighbouring districts to purchase all rice output for farmers during the harvest season, Thuy said.
To further promote the efficiency of agricultural production chains, Director of Bao Minh Agricultural Products Processing and Trading JSC Bui Hanh Hieu said that localities need to be planning how to apply safe production methods such as VietGAP and GlobalGAP.
This helps ensure product quality, creating advantages for businesses to sign large consumption contracts with stable prices.
In addition, Hanoi needs to focus on building coded growing areas to trace the origin and have transparent information about production areas and chains, Hieu added.
Producers also need to partner up with scientists to improve product quality, transparent production processes, thereby retaining customers, said Pham Thi Ly, Director of the Centre for Enterprise Integration and Development, the Vietnam Association of Small and Medium Enterprises.
On the other hand, Hanoi should create conditions for local agricultural products and specialties to participate in fairs and trade promotion programmes.
The city also needs to increase loans from supportive funds of the Hanoi Agricultural Extension Center and Hanoi Farmers' Association, so the cooperatives and enterprises have more capital to invest in high-tech production of closed chains.
Deputy Director of the Hanoi Department of Agriculture and Rural Development Nguyen Manh Phuong said that in the future, Hanoi will continue to develop agricultural production chains.
Localities have been planning to form large-scale agricultural production areas, attracting enterprises to invest in production linkages and product consumption.
The localities also support the cooperatives in improving management capacity, building production plans, connecting farmers and enterprises in product consumption.
They will regularly review the supply and demand of agricultural products in domestic and foreign markets to help the chains adjust production levels and redirect business if needed.
The enterprises and cooperatives proactively promote products on e-commerce platforms such as PostMart.vn and Voso.vn to increase consumption. They also plan to establish stores for safe agricultural products in some localities to introduce quality products directly to consumers./.
HCM City stimulates consumption of essential products
Authorities, businesses and retailers in HCM City are organising programmes to promote consumption of essential products and bring quality goods into the market at attractive prices.
Earlier this month the city Department of Industry and Trade, HCM City Women's Union, HCM City Labour Federation, HCM City Export Processing and Industrial Zones Authority, the People's Committee of Thủ Đức City and the city’s districts, and MVCPRO Co., Ltd launched the Mobile Sales – Market Stabilisation Programme in the city, which lasts from August 6 to September 15.
Held alternately at 15 locations, including export processing zones, industrial parks and high-tech parks, the programme provides consumers the opportunity to buy products at discounts, some huge.
Many domestic and international brands such as Saigon Co.op, MM Mega Market, Suntory Pepsico Vietnam, Wilmar Marketing CLV, Procter & Gamble Vietnam, and Bình Tây Food JSC are taking part with nearly 500 items in 40 essential groups such as dry foods, spices, confectionery, soft drinks, liquid detergents, fabric softeners, shower gels, shampoos, and toothpastes.
MM Mega Market said it is offering exclusive promotions of up to 90 per cent on several products, including stainless steel spoon sets, food containers, plastic cutting board sets, fans, cereal and fish sauce.
It hoped to join hands with the city Department of Industry and Trade to bring essential goods and goods under the city’s market stabilisation programme to low and middle-income earners.
In addition to participating in the "Mobile Sales - Market Stabilisation" programme, Saigon Co.op has also implemented the "Nutrition Festival - Back-to-School Energy" programme, offering discounts of up to 50 per cent on more than 1,000 products such as milk and dairy, nutritional supplements, bird's nest drinks, honey, cakes, candies, and fast foods such as pizzas and sausages at its 800 points of sales, including Co.opmart, Co.opXtra, Co.op Food, Co.op Smile, Cheers, Finelife, Sense City, SenseMarket, and Co.opOnline.
Saigon Co.op’s retail chains are also offering discounts of 20-40 per cent on school supplies and uniforms.
Nguyễn Nguyên Phương, the department’s deputy director, said the participation of large businesses and retailers in the Market Stabilisation Programme, especially the "Mobile Sales - Market Stabilisation" programme, enables people to buy quality goods at reasonable prices and helps share the burden faced by low-income families.
Mobile sales at industrial parks and export processing zones and outlying districts under the latter programme have helped workers and residents there access high-quality goods at reasonable prices.
Thanh Dung of Củ Chi District said there are few stores selling books and school supplies in her area, and so the programmes are convenient.
Nguyễn Văn Dũng, vice chairman of the city People's Committee, said in addition to its key goals, the programme this year also aims to prevent prices from going up in response to recent wage hikes, ensuring they meet the Government's goal of improving people's lives.
Speaking at the opening ceremony of the "Mobile Sales - Market Stabilisation" programme in District 4, Nguyễn Thị Mỹ Hạnh, vice chairwoman of the district People's Committee, said the programme would increase recognition of Vietnamese and price-stabilised goods among consumers, gradually change their habit from cash to cashless payments, and foster the district’s economic growth.
HCMC lawmakers discuss tax law changes
The National Assembly delegation of HCM City held a workshop on Monday to discuss the Corporate Income Tax Bill and amendments to the Special Consumption Tax Law.
Trương Thị Hòa of the HCM City Bar Association said though the Special Consumption Tax Law has been amended many times in the last 16 years, it still has many inadequacies compared to similar laws in other countries.
For instance, there are no tax refund provisions, he said.
Phan Lê Minh, deputy director of the HCM City Customs Department, said the drafting committee needs to amend several clauses when stipulating who are subject to the tax.
He said the law should exempt certain product groups from special consumption tax, including “products that are imported materials for processing for foreign businesses, or to serve production activities of exporters”, “products produced in Việt Nam, temporarily exported to another country for research and development before being imported back to Việt Nam”, and “products imported only to used as samples, not for sales or consumption.”
Nguyễn Đức Nghĩa, also of the HCM City Business Association, said that to ensure that preferential corporate income tax policies could be applied effectively, they should be easy to understand and equitable, but the bill’s provisions are too complicated and detailed, he pointed out.
Having too many tax slabs would cause confusion and make implementation difficult, and easily lead to wrong incentives being applied, he warned further.
He proposed a general minimum preferential tax rate of 15 per cent (as opposed to 10 per cent in the bill), and three rates of 15 per cent, 17 per cent and 20 per cent.
He called for increased duration of tax breaks for certain industries rather than lower rates to be in line with global practices and ensure a level playing field for Vietnamese and foreign businesses.
Trần Việt Hà, deputy head of the HCM City Export Processing and Industrial Zones Authority, said tax incentives have changed too many times over the years, causing businesses to struggle to find out which policies apply to them.
The two bills will be submitted for passage at the upcoming National Assembly session.
Argentina is leading corn import market for Việt Nam
Việt Nam imported corn from five main markets in the first seven months of this year, of which 3.19 million tonnes were imported from Argentina, accounting for 55.5 per cent of the country's total imports.
Statistics from the General Department of Customs show that Việt Nam imported 5.74 million tonnes of corn from global markets, reaching a value of US$1.43 billion by the end of last month.
Compared to the same period last year, import volume grew by 34 per cent, but turnover only increased slightly by 1.9 per cent, reflecting a sharp decrease in corn prices on the international market.
Argentina is Việt Nam's main trading partner in the field of corn imports. Việt Nam imported 3.19 million tonnes of corn from Argentina in the first seven months, reaching a value of US$772.29 million, with an average price of $242.4 per tonne.
The amount of corn imported from Argentina increased by 130.3 per cent compared to the same period last year, the turnover rose by 70.9 per cent, but the price fell by 25.8 per cent.
This shows that the trade relationship between Việt Nam and Argentina is growing strongly, with the country playing an important role in meeting Việt Nam's corn needs.
Brazil, the second largest market supplying corn to Việt Nam, reached 1.57 million tonnes in the first seven months of 2024, accounting for 27.4 per cent of the country's total imports.
In addition to Argentina and Brazil, Việt Nam also imports corn from such markets as Thailand, Laos and India.
Overall, Việt Nam's corn imports in the first seven months showed a marked dependence on partners such as Argentina and Brazil and also reflected changes in price structure and supply markets.
Importing corn in large quantities not only creates pressure on the trade balance, but also poses many challenges to food security and sustainability in Việt Nam's agricultural production.
The main reason for rising imports is that domestic corn production can not meet increasing demand, especially from the livestock and feed production industry.
To reduce dependence on imported corn, experts said that Việt Nam needed to have specific measures to promote domestic corn production.
Paving new path for state-owned enterprises' growth
Proposed changes to the draft Law on State Capital Management and Investment in Enterprises emphasise the need to separate capital ownership representation from management functions and to consolidate state capital ownership in businesses.
The Ministry of Finance (MoF) is gathering feedback on the draft Law on State Capital Management and Investment in Enterprises through recent workshops and discussions.
Finance Minister Hồ Đức Phớc said that the law holds significant importance as it affects various enterprises, including those affiliated with the military.
Currently, the challenge of technological innovation at state-owned enterprises (SOEs) surpasses that of private firms, hindering significant progress despite operational enhancements.
Issues primarily stem from difficult investment processes and complex management structures within many SOEs.
Phớc highlighted Singapore's successful SOEs, emphasising efficient budget utilisation, effective risk management and a balanced project portfolio. Seeking feedback from practical industry leaders, the draft committee aims to enhance proactiveness and effectiveness in capital management in a dynamic enterprise landscape.
Lê Quang Mạnh, Chairman of the National Assembly's Finance and State Budget Committee, emphasised the crucial need for enterprise opinions across six key policy areas: state capital management, state capital investment, enterprise investment activities, state capital restructuring, representation of state capital owners and enterprise management.
He stressed the necessity of distinctly separating and defining the roles of asset ownership and state capital in the management of enterprises, as well as the state's oversight of these businesses.
At a conference held on August 16 in Đà Nẵng City, Deputy Chairman of the Commission for the Management of State Capital at Enterprises (CMSC), Nguyễn Cảnh Toàn, advocated for a clear definition of the committee's role as the specialised body representing capital owners in businesses.
Key points to address include defining authorities and responsibilities and coordination with relevant entities such as ministries, enterprises and capital representatives, specifying the management of capital and assets within enterprises and outlining financial mechanisms for committee activities.
Meanwhile, Phạm Thị Thanh Hoà from the Academy of Finance suggested consolidating state capital ownership under one entity for better business operation management.
This centralised approach aims to streamline decision-making and enhance accountability, addressing enterprise needs more efficiently.
Advocating for a clear separation between the roles of capital ownership and state management within enterprises, Nguyễn Chí Thành, Chairman of the Board of Directors at the State Capital Investment Corporation (SCIC), highlighted this crucial point during discussions on the draft law on August 15.
Thành urged the draft committee to emphasise a more distinct division between capital ownership and state management functions within businesses, ensuring a comprehensive and meticulous approach.
He also stressed the importance of clearly delineating between enterprises with full state capital and those with capital from state-owned entities.
In terms of managing first-tier and second-tier enterprises, he recommended providing precise guidance and delegating responsibilities.
The representative of SCIC also recommended studying models from the ASEAN region and China that effectively manage state capital investments in enterprises.
He proposed that the draft committee convene sessions to gather insights from experts and policymakers across nations to leverage their experiences.
Additionally, Thành suggested crafting specific policies tailored to the SCIC, particularly concerning financial matters, operational mechanisms, and personnel.
He emphasised that if SCIC possesses resources, it should possess the autonomy to invest, acquire additional capital in other enterprises, including banks such as BIDV and Vietcombank. Alternatively, considering a dedicated chapter within the law outlining SCIC's role as an investor could be beneficial.
On the other hand, many businesses believe that the law should reconsider and review the scope of regulation.
The draft law outlines that the regulated entities are state-invested enterprises, including those with direct state capital investments and others with investments from these entities.
Cà Mau rice-shrimp cultivation model receives first BAP certification
The rice-shrimp cultivation area in Thới Bình district of the Mekong Delta province of Cà Mau has received the Best Aquaculture Practices (BAP) certification from the Global Aquaculture Alliance (GAA), marking the first time this certification has been awarded to an aquatic farming establishment in Việt Nam.
Võ Văn Được, a local farmer involved in the BAP project for two years, said that the model has helped his family earn VNĐ80 million (US$3,198) per hectare each year.
Vice Chairman of the People’s Committee of Biển Bạch Đông commune, Nguyễn Phi Thoàng, said that after more than two years of implementation, the project has proven its efficiency in adapting to climate change and improving local incomes.
Currently, 321 households in the commune are participating in the model, covering a total farming area of more than 696 hectares. Plans are underway to expand this area to approximately 2,000 hectares, according to Thoàng.
Vice Chairman of the People’s Committee of Thới Bình District, Nguyễn Hoàng Boa, said that Thới Bình has great potential for shrimp-rice cultivation models. The BAP certification will help the locality ensure sustainable farming practices for small-scale operations, minimising environmental impacts, ensuring social benefits, and contributing to a shift in production habits and mindsets among farmers and businesses.
A representative from the German Agency for International Cooperation (GIZ) mentioned that several standards, such as SQF, GlobalGAP, ASC, BAP, Naturland, AquaGAP, and VietGAP, are currently applied in aquaculture in Việt Nam. Among these, ASC, GlobalGAP, and BAP are the most commonly used for shrimp exports due to their focus on food safety, disease management, environmental protection, social responsibility, and product traceability.
The achievement of BAP certification is expected to open new markets for Cà Mau shrimp, particularly in countries with stringent import standards. The GAA has over 1,100 members across 70 countries and is a leading organisation in representing the global seafood industry.
A representative from Minh Phú company, which is involved in the project, noted that the BAP certification will allow certified shrimp products from households in the chain to be purchased at a premium price above the market rate. This presents a significant opportunity for Cà Mau to enhance the global profile of its shrimp, particularly in demanding markets with rigorous standards.
VNX achieves nearly $50m in profit in H1
The Vietnam Stock Exchange (VNX) posted a profit after tax of over VNĐ1.24 trillion (US$49.6 million) in the first half of 2024, equating to an average daily profit of over VNĐ7.6 billion, according to its recently audited consolidated financial report.
VNX operates both the Hồ Chí Minh Stock Exchange (HoSE) and the Hà Nội Stock Exchange (HNX).
The profit result marked a growth of over 65 per cent from the same period in 2023.
The primary source of revenue was from securities trading services, amounting to over VNĐ1.87 trillion during the period, a significant increase of 70 per cent year-on-year.
The exchange also earned income from financial activities, with 95 per cent coming from interest on deposits (VNĐ56 billion).
As of June 30, VNX held nearly VNĐ2.1 trillion in fixed-term bank deposits and had VNĐ688 billion in cash, non-fixed-term deposits and cash equivalents.
Enterprise management expenses rose by over 30 per cent to VNĐ423 billion, driven in large part by a 44 per cent increase in the fee for overseeing securities operations paid to the State Securities Commission (SSC), which amounted to VNĐ296 billion.
VNX's total assets were nearly VNĐ4.2 trillion.
VNX operates as a one-member limited liability company, with the government holding 100 per cent of the charter capital (VNĐ3 trillion), functioning under a parent-subsidiary structure following the reorganisation of HoSE and HNX.
This year, VNX has set a total revenue target nearing VNĐ2.8 trillion, with a profit after tax exceeding VNĐ1.42 trillion.
International Travel Expo HCM City could become Asia’s most influential
Global industry players will take part in the International Travel Expo HCM City (ITE HCMC) to take place in HCM City from September 5 to 7.
This year’s expo will see for the first time the participation of prominent international travel businesses such as Flight Centre Travel Group, a Fortune 500 company with a presence in more than 90 countries, and Intrepid Travel, recognised as one of TIME magazine’s 100 most influential companies in 2023.
The presence of industry heavyweights is set to boost the expo’s global prestige, Lê Trương Hiền Hòa, deputy director of the HCM City Department of Tourism, told a press conference held in HCM City on Thursday.
“ITE HCMC 2024 is set to become one of Asia’s most influential travel expos.
“The event aims to elevate its regional stature, fostering greater collaboration with key domestic and international partners.”
More than 450 exhibitors have registered for the event and 200 international buyers from 33 countries and territories have confirmed participation in the expo’s International Hosted Buyer Programme.
ITE HCMC is supported by more than 40 media agencies from 10 countries and territories.
CNN will cover it for its Marketplace Asia programme, the first time it will dedicate extensive resources to a Vietnamese tourism event.
The three-day expo continues to attract a diverse group of international buyers, including industry leaders, tour operators, travel and tourism professionals, destination management companies, travel technology firms, and airlines.
The expo will facilitate 10,000 B2B meetings tailored to participants’ business needs, ensuring optimal matchmaking and maximising outcomes.
A number of conferences and forums will be held to offer practical solutions and propose effective policies and strategies for promoting sustainable tourism.
The topics of discussion will include “Net Zero Travel & Tourism - Creating future”, “Empowering local communities through sustainable tourism”, “Orienting sustainable tourism development through ESG”, “The power of communication in fostering sustainable development”, and “Promoting responsible tourism associated with wildlife protection and no ivory trade.”
Furthermore, to create a strong link between shopping and tourism, and to position HCM City as a premier luxury shopping destination, its Department of Industry and Trade will host the “Shopping Season 2024 City Sale” programme in conjunction with the expo.
The programme will run from August 30 to September 8 at Union Square, Saigon Centre and SC VivoCity, offering a diverse range of products with discounts of up to 80 per cent.
The expo, to be held at the Saigon Exhibition and Convention Centre, will be organised by the Việt Nam National Authority of Tourism, HCM City Department of Tourism, CIS Vietnam, and Le Bros.
Kiên Giang issues plan for tourism development
The Mekong Delta province of Kiên Giang has issued a tourism development plan to turn it into one of the leading destinations in Việt Nam.
Under the plan, Kiên Giang has set a goal of welcoming 10.7 million tourists by 2025, including 900,000 foreigners, and around 23.7 million visitors by 2030, including 1.7 million from abroad.
The province will continue to focus on its major markets of Southeast Asia, South Korea and China.
It will also concentrate on increasing the number of arrivals from Europe, and exploiting new markets such as India and the Middle East.
For tourism revenue, Kiên Giang targets to achieve VNĐ38 trillion (US$1.52 billion) by 2025, contributing 13 per cent to its Gross Regional Domestic Product (GRDP) and VNĐ105 trillion ($4.19 billion) by 2030, contributing 17.5 per cent.
It will create 38,600 jobs in tourism sector by 2025, and 65,500 by 2030.
According to the plan, Kiên Giang will promote its signature nature and marine wildlife tours.
The province is known for the karst mountains in Kiên Lương District and Hà Tiên City, which are home to 322 plant species, many of which are listed in the 2007 edition of the Việt Nam Red Book, and at least 155 vertebrate species, including rare and endangered species of birds and mammals.
It will also set up more tours to watch marine animals such as dugongs, dolphins and green sea turtles, and to explore tropical forests in Phú Quốc Island, and Hà Tiên’s ten must-see landscapes and destinations such as Mũi Nai and Nam Phố Beaches, and Đá Dựng Mountain.
In addition, Kiên Giang will focus on community-based tourism, religious tourism, agricultural tourism at craft villages, trading and tourism at the Hà Tiên International Border Gate, and luxury wellness tourism in Phú Quốc.
The province also seeks Public-Private Partnership (PPP) investment in tourism facilities, and calls for investment to upgrade and expand Rạch Giá Airport and Phú Quốc International Airport.
Localities making efforts to develop green marine tourism
Many localities have developed strategies and action plans to raise awareness about environmental protection and promote tourism while implementing measures to reduce plastic waste.
The National Tourism Development Plan for Việt Nam for the 2021-30 period, with a vision to 2045, identifies marine and island tourism as one of the main product lines.
Sustainable tourism development is closely linked to environmental protection and effective climate change response.
By 2030, all tourist areas, accommodations, and other coastal service businesses will no longer use single-use plastic products and non-degradable plastic bags.
Phú Quốc in Kiên Giang, a famous tourist destination in Việt Nam, welcomes about 5.5 million visitors annually.
Along with its advantages in marine and island tourism resources, Phú Quốc also faces many challenges related to developing green tourism while protecting the environment and reducing plastic waste.
According to Phú Quốc City’s People's Committee, the city is determined to develop its economic sectors, including tourism, in a green and sustainable direction.
It aims to completely ban the use of single-use plastic products in tourist areas, coastal services, and night markets by 2025.
Additionally, 80 per cent of areas within Phú Quốc Marine Protected Area will be free of plastic waste.
Nguyễn Thị Mỹ Quỳnh, from the World Wide Fund for Nature in Việt Nam (WWF-Việt Nam), stated that the organisation, in collaboration with relevant agencies and Phú Quốc, is implementing the project "Phú Quốc towards a Plastic-Free Island".
The project has initiated many practical activities, such as a communication programme to raise awareness among residents, businesses, and tourists about environmental protection and plastic waste reduction.
Environmentally friendly bags are provided at hotels and resorts for guests to use while shopping, and green collection points for waste have been established, contributing to the goal of keeping Phú Quốc green, clean, and beautiful.
Similarly, Côn Đảo District in Bà Rịa-Vũng Tàu Province, an impressive marine and island tourism destination for many visitors, is pursuing sustainable socio-economic development, with a focus on green and environmentally friendly tourism growth to become a high-quality destination.
The People's Committee of Bà Rịa-Vũng Tàu Province has launched a project titled "Research and Application of the Circular Economy Model for Sustainable Socio-Economic Development of Côn Đảo District, period 2022-2025, with a vision to 2030".
Various activities are being implemented in Côn Đảo, such as raising awareness of environmental protection among residents and tourists, training on waste separation at the source, and tourism associations and transport companies signing commitments to reduce plastic usage in service operations.
The People's Committee of Côn Đảo District, in cooperation with WWF-Việt Nam, has distributed hundreds of waste sorting guidebooks and waterproof recycled fabric bags to tourism service businesses.
They also encourage tourists to participate in the "Green Offering Basket" initiative, which reduces the amount of plastic waste and non-degradable bags generated.
The Côn Đảo National Heritage Conservation Centre has implemented a model of "No Plastic Bags at Hàng Dương Cemetery," while the Côn Đảo National Park Management Board has organised numerous waste collection campaigns, handling marine waste at eco-tourism sites and beaches.
To succeed in developing green marine tourism linked to sustainable environmental protection, it is essential not to stop at just communication or pilot models but to require the voluntary and persistent efforts of every resident, tourist, and service provider through practical actions.
Võ Thanh Mỹ, deputy chairman of the Bà Rịa-Vũng Tàu Tourism Association, stated that the association is intensifying communication efforts and urging the tourism business community to actively apply the circular economy model in Côn Đảo, minimising the use of single-use plastic products in tourism and service activities.
Currently, many accommodation facilities and service providers in Côn Đảo are actively sorting waste at the source and gradually reducing the use of single-use plastic products.
A representative from Nicobar Hotel in Côn Đảo shared that the hotel has reduced the use of single-use plastic products in the delivery of many services to guests, replacing plastic water bottles with glass bottles, amounting to around 100 bottles per day.
The hotel also provides guests with small, refillable glass bottles for shampoo and shower gel.
Similarly, the Secret Côn Đảo Hotel uses an RO water filtration system to supply water to guests in glass bottles instead of plastic ones and uses environmentally friendly, biodegradable trash bags.
The hotel has also invested in a solar energy system with a design capacity of 65kW per hour, helping to save electricity.
Six Senses Côn Đảo Resort aims for "no plastic waste", and is equipped with a water filtration system to produce drinking water, avoiding the use of single-use plastic bottles.
Lai Chau province’s efforts in industrial expansion pay off
Over the past years, Lai Chau’s efforts to encourage industrial expansion have helped the northern province promote its advantages in terms of materials and workforce, creating high-quality products with high value.
According to the provincial Department of Industry and Trade, since 2011, the locality has implemented 21 projects in industrial expansion at a cost of more than 3.5 billion VND (140,449 USD) from national industrial promotion funds and local budgets.
The projects focus on providing local industrial facilities with modern equipment and machineries for the production of tea, cordyceps, macadamia nuts, and tapioca starch, giving advice to the provincial People’s Committee and issuing certificates of outstanding rural industrial products to 25 products of 20 industrial facilities. Seven products of the province have been recognised so far.
Alongside, the province has assisted the building and trademark protection registration for 14 products of local establishments, while providing them with information on industrial development and industrial promotion policies.
Nguyen Trong Thuc, Vice Director of the Lai Chau Department of Industry and Trade, said that the implementation of industrial promotion projects have produced practical results, optimising the locality’s advantages in material resources and workforce, manufacturing high-quality products with high value, meeting consumers’ requirements, creating jobs and contributing to boosting local socio-economic development in association with new-style rural area building.
However, Thuc said that the implementation of industrial production activities in Lai Chau has faced certain difficulties due to tough terrain and difficult transport.
Besides, the infrastructure system serving production has yet to meet the increasing demands of local people, with poor supporting works for goods production activities. Meanwhile, the province has yet to form production clusters linked as chains, while the infrastructure system for industrial clusters in the locality has yet to be completed.
At the same time, although activities to assist industrial production have been carried out, they have yet to meet requirements, especially in terms of resources for development, while industrial facilities in the province are mostly small in scale with limited capacity.
In order to deal with difficulties in attracting investment in industrial and handicraft development, in the coming time, the provincial Department of Industry and Trade will continue to roll out a number of measures such as step up communications to raise public awareness of the need to boost industrial development among local officials and residents, while continuing effectively building and implementing programmes and plans on industrial promotion, trade promotion, and e-commerce, supporting businesses and cooperatives to participate in activities to introduce and selling agricultural products in the domestic and foreign markets as well as on e-commerce platforms.
Moreover, the province will bring into full play investment resources for the construction of infrastructure system of local industrial clusters, thus creating spaces for projects in the fields of agro-forestry-fishery production, handicraft, and traditional trade.
The department will actively update information from ministries, sectors and central agencies as well as Vietnamese Trade Offices abroad and border localities on the markets, tax policies, technical barriers, quality standards and regulations on food safety, thus providing the information to local businesses, cooperatives and business households, enabling them to design suitable production and business orientations to meet the market requirements./.
Belgium, Vietnam seek broader renewable energy cooperation
Vietnamese Ambassador to Belgium Nguyen Van Thao visited a wind power project in Hanzinelle - Gerpinnes in the Belgian province of Namur, holding a working session with experts to exchange views on the various challenges and opportunities for energy co-operation between the two nations.
This is part of wider efforts to boost renewable energy links between both sides, thereby demonstrating Vietnamese attention to Belgium's expertise and technology in the field of renewable energy.
As the nation boasts vast potential for renewable energy, it has become the focus of international partners' attention, especially as the country is striving to transition towards green energy.
Among the countries showing particular interest in Vietnam, Belgium has emerged as one of the most important partners. This collaboration not only brings about economic benefits, but also contributes to protecting the environment, reducing greenhouse gas emissions, and responding to the threat of climate change.
Leading Belgian energy corporations such as ELIA, Luminus, AVALON L E, and BESIX are all currently playing a significant role in implementing renewable energy projects in the nation.
Representatives from ELIA, which has extensive experience in operating power transmission systems, shared effective co-ordination ways among stakeholders, such as transmission system operators, construction units, railways, and urban traffic authorities in terms of implementing projects to upgrade and install power lines.
ELIA introduced approaches to minimise the environmental and community impact, while also ensuring that the project timelines remain unaffected.
Philippe Vermeulen, chairman of Avalon Group, said Belgium can apply many of Vietnam’s experiences, adding that they will also learn from the Vietnamese side’s valuable lessons from the development of renewable energy and grid management to create strong connections and co-operation between both sides.
Vermeulen also said that Avalon has supported ELIA in network management and development projects in Vietnam.
Tran Ngoc Quan, trade counselor and head of the Vietnam Trade Office in Belgium, introduced the Vietnamese energy development strategy up to 2030, highlighting the country’s vast potential for developing renewable energy, including wind power, solar power, and biomass.
Quan applauded the Vietnamese international co-operation potential within the framework of the Just Energy Transition Partnership (JETP), as well as the collaboration between the nation and the European Investment Bank (EIB) in mobilising funding for renewable energy projects and hydrogen development.
Ambassador Thao also underlined strong Vietnamese potential in renewable energy with its over 3,000 km of coastline, expressing his hope that with Belgium's extensive experience in this field, Belgian companies will continue to partner closely with the nation, further contributing to developing a more sustainable, clean, and efficient energy system.
Close co-operation, experience, and technology sharing between the two countries are expected to be key to realise this potential, helping Vietnam to become one of the leading countries in renewable energy development in Southeast Asia, he said.
Strong export growth but many challenges remain
Although gaining strong growth in export turnover in the first seven months of this year, Vietnam still faces many challenges to maintain the high growth in the export until this year end.
With the gradual recovery of the world market and increase of export orders, trade activities in the first seven months achieved positive results.
The total trade turnover in July exceeded 70 billion USD for the first time, of which exports reached a record of over 36 billion USD, marking the month with the highest export value ever.
In the first seven months, export turnover reached 266.9 billion USD, up 15.7% over the same period last year. Import turnover stood at 212.9 billion USD, up 18.5%.
During those months, there were 10 import items with a value exceeding 5 billion USD, including electronics, computers and components, common metals, phones and components, machinery, equipment, tools and spare parts.
According to the forecast of MB Securities Joint Stock Company (MBS), exports will grow by 11 % - 12 % in 2024, with a trade surplus of 12-14 billion USD.
This growth is based on the World Bank's forecasts on the global trade in goods and services increasing by 2.5% in 2024 and 3.4% in 2025. Positive signs of FDI in Vietnam are expected to play an important role in trade activities.
In addition, recent reforms in trade and customs policies have improved the efficiency of import-export management, simplified administrative processes and reduced costs and time for businesses.
Petrovietnam Securities Incorporated (PSI) also noted that consumer confidence is showing signs of recovery. The consumer confidence index on economic conditions in key markets, such as the EU and UK, also recorded slight recovery,
In addition, the number of new orders from the US, Vietnam's key export market, increased, showing more optimism about this market's demand in the future.
Therefore, PSI expects purchasing power in major export markets to recover more strongly in the second half of 2024.
Although the US has not recognised Vietnam as a market economy, PSI still maintains a positive view on Vietnam's export enterprises this year because the US is still Vietnam's largest export market, reported the Doanh nghiep Vietnam (Vietnam businesses) magazine.
However, MBS believed that Vietnam's export growth until this year end will face many challenges, such as a spike in shipping costs due to geopolitical conflicts; and increasing competition from rival exporting countries such as China, Indonesia and Thailand.
Other challenges are negative impacts from the US's prolonged high interest rates on Vietnam's partner countries, leading to a decline in market demand.
Moreover, Vietnam's economy is highly open, so it also is greatly exposed to global economic developments. This brings difficulties for industries with large export turnover such as textiles, wood and electronics.
According to the Ministry of Industry and Trade (MoIT), although the export market has seen signs of recovery, the export recovery of products is still uneven and unstable.
Vietnam's key export products to such major markets as the EU and the US are facing pressures from trade defence investigations, origin fraud and technical barriers related to the environment, sustainable development and green transformation.
The world economic situation still faces many difficulties and challenges, while the slow recovery of global trade, consumption and investment has affected the domestic economy.
Industrial enterprises, especially export ones, continue to face difficulties in expanding and diversifying markets due to high input material costs and compliance costs, especially with new regulations and standards. Lending interest rates are gradually decreasing, but they are still at a high level.
Therefore, the General Statistics Office recommended synchronously and effectively implementing some groups of solutions. Of which, it is necessary to continue to popularise incentives in free trade agreements (FTAs) and maximise market opening opportunities, boost exports and improve the efficiency of exporting Vietnamese goods to markets that have signed FTAs with Vietnam.
The country should continue to innovate trade promotion activities, focusing on digital transformation programmes in the trade promotion activities and connecting supply and demand both home and abroad.
At the same time, it is necessary to improve efficiency in customs clearance for import and export goods at border gates between Vietnam and other countries and promote transition to official exports.
The industry and trade sector strives to maintain a trade surplus of 15 billion USD in 2025 and gain a growth of 6% in export revenue turnover compared to 2024.
To reach this goal, the MoIT will continue to promote breakthrough strategies and restructure sectors and fields to improve productivity, quality, efficiency and competitiveness.
The ministry will also focus on institutional reform and development of a favourable business environment to support enterprises in restoring production and business, and implementing important projects.
At the same time, negotiation about new FTAs and upgrading of existing ones will be carried out selectively to take full incentives from signed FTAs, aiming at expanding import and export markets and diversifying partners and goods suppliers and minimising dependence on certain markets.
The ministry will also implement preventive measures, improve trade defense capacity and early warning and resolve international trade and investment disputes to protect the legitimate rights of domestic manufacturing industries as well as businesses and people.
It will strongly develop the domestic market and Vietnamese brands, and promote e-commerce.
In addition, trade promotion conferences with Vietnam trade offices abroad will be held regularly with updates on foreign markets and new regulations and standards, making recommendations to localities, business associations and businesses to adjust production plans and find suitable orders.
In particular, the ministry will accelerate the negotiation of the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE), and deploy various trade promotion programmes in both direct and online forms, to take all opportunities from the implemented FTAs./.
Fruit, vegetable exports expected to hit record in 2024
Vietnam’s fruit and vegetable export turnover is likely to hit a record high of 7 billion USD in 2023, driven by the current momentum and steady double-digit growth in recent times.
The country earned 3.83 billion USD from exporting fruit and vegetables in the first seven months of 2024, up 24.3% compared to the same period last year. Notably, this sector has seen double-digit growth in the top 10 export markets (excluding the Netherlands).
Recently, the Republic of Korea (RoK) agreed to import fresh pomelo from Vietnam.
According to General Secretary of the Vietnam Fruit and Vegetables Association Dang Phuc Nguyen, the export value of Vietnamese fruit and vegetables to the RoK and Japan is on the rise. In addition to building a brand and position in the traditional Chinese market, the fruit and vegetable sector is increasingly expanding in the Northeast Asian region.
China was the biggest importer of Vietnamese fruit and vegetables in Northeast Asia, accounting for 64% of the total export turnover, up 22% compared to the same period last year. It was followed by the RoK, up 55% year-on-year.
In the future, Northeast Asia will be a strategic market for Vietnamese fruits and vegetables, Nguyen said, adding that export companies will not only benefit from tariff advantages but also reduce transportation and logistics costs compared to other markets such as the EU and the US.
According to the Plant Protection Department (PPD) under the Ministry of Agriculture and Rural Development (MARD), within the Regional Comprehensive Economic Partnership (RCEP) Agreement, Vietnam is allowed to export the largest number of fruit products to China, with 12 official products. China has also approved the temporary and pilot import of Vietnamese passion fruits and coconuts, respectively.
The PPD is working on opening the market for citrus fruits, medicinal plants, and frozen durian to China. Additionally, Vietnam is also negotiating for exporting passion fruit, longan, and lychee to Australia; and passion fruit and grapefruit to New Zealand.
Vietnamese producers and exporting companies must pay attention to continuously updating import regulations in various markets to ensure timely compliance, Nguyen said.
According to Deputy Director of the PPD Nguyen Quang Hieu, the area of durian with newly-granted farming area codes is about 25,000 ha among 150,000 ha nationwide. Vietnam is focusing on not only expanding cultivation areas with farming area codes, but also controlling and managing the quality of products.
A protocol on the official export of frozen durian to China is being promoted, and is expected to be signed in 2024, he said.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said sensitivity and strict adherence to international regulations are fundamental solutions for the sustainable development of all sectors, including fruits and vegetables.
The MARD, along with other ministries, agencies, and local authorities, are tightening quality management and monitoring of cultivation areas, he stressed, adding that effective solutions to quality issues are needed to achieve higher growth in fruit and vegetable exports./.
Source: VNA/SGT/VNS/VOV/SGGP/VGP