The Mekong Delta province of An Giang on February 19 exported 13 tonnes of flat-seeded mango to the Republic of Korea (RoK).

This is the first batch under an export contract signed between the GAP Cu Lao Gieng Cooperative in Cho Moi district and the Hoang Phat Fruit Ltd. Co.

This is an important event marking the cooperation in production and sales between the cooperative and fruit exporting companies in An Giang and other localities, thus promoting the connection between production and consumption of mango products in a value chain.

Speaking at the event, Vice Chairman of the provincial People’s Committee Nguyen Thi Minh Thuy said that it took more than 10 years of efforts of local authorities and farmers to open the door to demanding markets such as the US, Australia, RoK and other choosy markets in the world for An Giang's mango.

The official held that the export of mango to RoK affirmed the position of the locality’s fruit in demanding markets, she added.

This is also a turning point for the local agricultural sector, helping bring about economic opportunities while bolstering the image and reputation of the district’s agricultural products in the international market, she added.

An Giang has more than 12,000 ha under mango, with Cho Moi district accounting for the largest area with 6,400ha.

The district has over 704ha of mango farming in line with VietGAP standards. The district has issued 41 planting area codes for over 6,149ha under mango for export to China, RoK, Japan, Australia, and the US.

Central bank takes credit growth as 2024 key task

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong on February 20 said propelling credit growth is the key task in 2024 to ensure ample capital for the economy.

In an online conference of the banking sector, the official also highlighted the imperative of reducing operational costs among the credit institutions, and urged for a reduction in interest rates for loans to citizens and businesses. This directive was accompanied by a call for a balanced management of deposit and loan sources to effectively mitigate credit and liquidity risks.

According to the Governor, the central bank has steadfastly followed the Government and Prime Minister’s directives on prioritising support for growth coupled with macro-economic stability and inflation control since the beginning of this year.

Aligned with the targeted economic growth of around 6-6.5% and inflation of about 4-4.5% set by the National Assembly and the Government, the SBV aims for a credit growth of around 15% this year, subject to adjustments.

As of January 31, deposit and lending rates continued to show a downward trend, indicating a trend in line with the bank's objectives.

Director General of the SBV’s Department of Credit for Economic Sectors Ha Thu Giang said the central bank will direct credit institutions to promote safe and efficient credit growth. This includes channeling credit into priority sectors and growth engines while keeping rigorous control over credit in potentially risky areas.

She also pledged efforts to streamline loan procedures and create favourable conditions for firms and residents to access capital in support of production and daily lives, thereby contributing to curbing loan shark practices.

Hai Duong attracts over 2.2 trillion VND of investment

The Hai Duong provincial People’s Committee on February 19 held a ceremony to grant investment registration certificates to eight investors who committed over 2.2 trillion VND (89.65 million USD) in nine projects in the province.

The ceremony is the first of its kind that the committee held this year. Four of the investors are foreign.

According to the Management Board of Industrial Parks of Hai Duong province, from the beginning of this year, the province's industrial parks have attracted about 2.6 trillion VND including about 1.87 trillion VND as domestic direct investment (DDI)

As of February 19, the parks had attracted 375 secondary investment projects including 294 foreign direct investment (FDI) ones from 26 countries, regions, and territories, with a total registered capital of about 6.1 billion USD and 81 DDI projects with a total registered investment capital of about 14 trillion VND.

In 2023, foreign investors registered new projects or adjusted investment capital to on-going projects in the province with a total registered capital of over 1.2 billion USD. Meanwhile, the locality attracted over 6 trillion VND from DDI projects.

Quang Ninh diversifying tourism products and markets

A  wealthy Indian couple's decision to choose Ha Long city, the northern province of Quang Ninh, home to UNESCO-recognised Ha Long Bay, for their three-day wedding has reflected the efforts taken by the locality to diversify its tourism products and markets.

The wedding of Indian billionaire groom Vivek Dinodiya, Director of PL Global Impex Pte Ltd, and bride Anmol Garg, held from February 16 to 18, hosted hundreds of guests, including Indian government officials, representatives from the Indian Embassy in Vietnam, and prominent entrepreneurs from India and Southeast Asian countries.

Chairman of the Ha Long city People’s Committee Nguyen Tien Dung on February 18 evening came to present a gift to the couple.

This is the second time Ha Long has been chosen by Indian billionaires as their preferred wedding venue. In February last year, another wealthy Indian groom Dhruv Taneja and his bride Shravya Bakliwal attracted over 400 guests.

Quang Ninh is working to attract holidaymakers from India, home to over 1.4 billion people, and Muslim-majority countries with more than 1.7 billion Muslims, representing nearly a quarter of the world's population.

With close to 300 million Muslims, Southeast Asia is seen as a promising market for tourism in Quang Ninh.

Nguyen Huyen Anh, Deputy Director in charge of the Provincial Department of Tourism, said to lure Muslim visitors, Quang Ninh needs to have good infrastructure suitable to their habits and Halal-certified products, and invite Muslim experts to train its tourism workers.

In 2023, the province welcomed many Muslim delegations from India, organised a workshop to seek solutions to attract Muslim tourists, and encouraged lodging facilities to upgrade their infrastructure to serve these tourists.

It expects to welcome about 17 million tourists this year, including at least 3 million international arrivals.

Hai Duong expects foreign firms to train skilled workforce

Chairman of the People’s Committee of northern Hai Duong province Trieu The Hung visited foreign-invested firms operating in the locality on February 19, including Best Pacific Vietnam Co. Ltd. and Doosan Electro – Material Vietnam Co. Ltd.

Hung congratulated their business performances last year and wished for their continued efforts to improve the income of workers and their overall quality of life.

He proposed that companies continue partnering with local authorities in human resources training, with a particular focus on nurturing a highly skilled workforce from the local community, thereby strengthening the bond between workers and their enterprises.

Developing business operations must go hand in hand with improving working environment, reducing occupational hazards and protecting the health of workers, all aimed at fostering a healthier and more productive workforce, he said.

Departments, agencies and localities were also assigned to stay ready to support firms when needed.

Bình Phước conference to solicit investment in high-tech agriculture

A business forum to showcase the potential of and investment initiatives, especially in high-tech agriculture, will be organised in the southern province of Bình Phước on March 12, its People’s Committee has announced.

“Business Connection Forum – Industry, Trade and High-tech Agriculture EuroCham – Bình Phước Province in 2024” seems set to be attended by hundreds of delegates including senior officials from the Ministry of Agriculture and Rural Development, the Bình Phước People's Committee and other Government agencies, the Vietnam Chamber of Commerce and Industry, consulates of European countries, businesses affiliated to EuroCham, major corporations, and local ones.

It will bring business executives and investors in high-tech agriculture together with local authorities and help promote sustainable agricultural development.

Trần Tuệ Hiền, chairman of the provincial People's Committee, called it the largest international investment connection forum in the agricultural sector ever organised in Bình Phước. 

It is an opportunity for Bình Phước to promote its strengths and incentive policies for both domestic and international investors, she said.

"The forum also serves as a chance for Bình Phước to invite reputable domestic and foreign businesses and investors with financial strength and technology to invest in high-tech agriculture and share information with the business community.”

At the forum, the People's Committee, EuroCham, various other business associations, and agricultural companies will sign a number of memorandums of understanding for investment in high-tech agriculture.

Gabor Fluit, chairman of EuroCham, said: "The forum is an opportunity for EuroCham businesses to connect production and consumption value chains, enhance the brands and value of key local agricultural products and introduce high-quality agricultural products from Bình Phước Province to the European market.”

EuroCham would recommend means for the rapid and sustainable development of high-tech agriculture eco-systems in Bình Phước, he added.

Also during the forum, there will be surveys of local industrial clusters and exhibitions showcasing typical Bình Phước products.

Vũ Mạnh Hùng, deputy chairman of the Việt Nam Digital Agriculture Association (VIDA) cum chairman of the board of directors of Hùng Nhơn Group, said with the purpose of connecting businesses and investors in high-tech agricultural development, the forum will feature numerous discussions from domestic and international businesses, sharing experiences in the field of developing high-tech agriculture in Việt Nam in general, and Bình Phước Province in particular.

The forum will be held on the afternoon of March 12 at the Provincial Political School in Đồng Xoài City.

Tiền Giang Province working hard to achieve $5b export target

Enhancing trade promotion is among the things the Tiền Giang Province Department of Industry and Trade plans to do this year to achieve the export target of US$5 billion, according to its director.

Lưu Văn Phi said the activities would focus on new markets and those that have been largely untapped, are less affected by inflation, have high growth potential, and digitally grant preferential certificates of origin (C/O), thereby enabling businesses to capitalise on free trade agreements.

His department would continue to disseminate information about domestic and international seminars, forums and exhibitions to be held this year, new markets, regulations in export markets, and free trade agreements to help them tap the opportunities, he said.

In addition, the department would help them participate in promotional activities at home and abroad and orient them in international economic integration to improve their business capacity and build their brands.

It would also help mitigate difficulties and promote exports, especially by key industries with high competitive advantages such as rice, fruits, processed seafood, garments, and footwear, he added.

For exporting key agricultural products, the province has coordinated closely with relevant agencies to complete necessary procedures for granting codes to fruit packaging establishments and fruit growing areas for exporting to China and some other markets.

Nguyễn Văn Mẫn, director of the province Department of Agriculture and Rural Development, said as of January the province had 279 fruit growing areas spanning a total of over 20,000ha with production codes.

The province wants all specialty fruit growing areas to get production codes for export by 2025, thereby facilitating official exports of its famous green-skinned grapefruit, Chợ Gạo dragon fruit, Ngũ Hiệp durian, Vĩnh Kim star apple, and Hoà Lộc mango.

It continues to promote rice production and export.

According to the Department of Industry and Trade, the province’s exports topped $4.6 billion last year, up 13.5 per cent from 2022 and 18.9 per cent higher than the target.

It was a remarkable achievement in the context of the domestic and international economic downturn, which has hit the exports of many sectors.

It has been attributed to the province’s early and comprehensive measures to help businesses overcome difficulties and promote exports, and efforts made by companies themselves to boost exports and innovation to improve their competitiveness.

Việt Nam exports millions of dollars worth of farm produce to China during Tết

Việt Nam exported farm produce and seafood worth millions of dollars to China through borders in Quảng Ninh, Lạng Sơn and Lào Cai during the Lunar New Year (Tết) holiday.

On February 12, the third day of the Year of the Dragon, authorities at the Bắc Luân 2 Bridge border gate in Móng Cái City handled export procedures for nearly 60 tonnes of live seafood, comprising lobster and crab, worth over US$781,000.

Earlier, the Vietnamese and Chinese sides had agreed on the Tết holiday plan for the Móng Cái (Việt Nam) – Dongxing (China) international border gate. Accordingly, the two international facilities were scheduled to suspend handling customs clearance procedures from February 10 through 17 at the Bắc Luân 2 Bridge border gate, along with the pair of the Dongxing border market and the Km3 4 Hải Yên border crossing.

After a discussion with Vietnamese authorities, however, the Chinese side decided to allow imports, mainly fresh produce from Việt Nam, to enter its country from February 12.

During the seven-day Tết holiday, nearly 13,000 tonnes of agricultural products were also exported to China via Hữu Nghị and Tân Thanh border gates in Lạng Sơn Province.

Nguyễn Đình Đại, Director of Lạng Sơn’s Department of Industry and Trade, said that since the holiday, there had been no congestion of goods at local border gates thanks to the authorities’ efforts to strengthen regulation and active work before Tết.

Meanwhile, border gates in Lào Cai Province had been operating throughout Tết, with a very large volume of goods, mainly fruits and vegetables.

Trade activities through the province's Kim Thành II International Border Gate reached about $13 million in the first five days of Tết (February 10-14), over 3.5 times higher than the same period of the previous holiday.

Of the sum, $12.2 million came from Vietnamese exports, up 319 per cent over the same period last year. Among major exported staples were fresh fruits such as dragon fruit, durian, watermelon, grapefruit, jackfruit, rambutan, mango and banana. Import value from the market also saw a slight increase of 4.3 per cent to over $681,000.

According to trade experts, the demand in the Chinese market for Vietnamese agricultural products and fresh fruits during the Lunar New Year period was usually very high. Meanwhile, Vietnamese enterprises also needed to import more consumer goods and machinery components for the domestic market, driving the significant increase in cross-border trade between the countries.

Following positive performance during the Tết holiday, cross-border trade showed good signals and all customs clearance procedures have returned to normal since February 18.

At Móng Cái International Border Gate, on February 18, 95 vehicles transported over 900 tonnes of agricultural products worth around $3.7 million to China.

Vương Trinh Quốc, head of the management board of Lào Cai Economic Zone, forecast that trade with China would flourish even more this year.

After the state-level visit to Việt Nam by Party General Secretary and President of China Xi Jinping, the country announced that it would open its market to many potential Vietnamese agricultural products, including fresh coconuts, frozen fruit, citrus fruit, avocados, bananas, custard apples and water apples, vietnamplus.vn reported.

Consumption surge in Tết boosts domestic market growth: Experts

A strong rise in goods consumption with no shortages or price hikes during the Tết (Lunar New Year) festival is considered a push for domestic market growth through the whole year.

As early as the end of October 2023, the Ministry of Industry and Trade (MoIT) urged localities and businesses to prepare plans to stockpile goods for Tết, the biggest festival of the year for Vietnamese, while launching a market stabilisation programme and strengthening market management and food safety protection.

In Hà Nội, the Department of Industry and Trade reported that the total value of goods consumed during Tết rose about 10 per cent year on year to VNĐ40 trillion (US$1.63 billion).

Experts held that the peak shopping season during Tết is always a push for production and business activities, promoting domestic market growth.

In the context of the Government focusing on the domestic market towards economic growth of 6.5 per cent and inflation of 4-4.5 per cent in 2024, the supply-demand connection and stimulation of domestic product consumption are key to the stable and sustainable development of the national economy in following years, they asserted.

Economist Ngô Trí Long said that along with speeding up public investment and removing difficulties facing businesses, it is necessary to boost domestic market growth by reducing value added tax and adjusting personal and corporate income taxes to suit the new situation.

Long advised businesses to adjust their production and business methods to provide high quality products to consumers quickly and at reasonable prices, while applying promotion policies and building reputations for their brands.

Meanwhile, businesses underlined the need for long-term and stable consumption stimulating policies as well as direct support to enterprises such as cutting down land rent.

The MoIT said that in order to continue ensuring goods supply and market stability, the ministry will keep a close eye on the development of the market and prices to make timely response, while coordinating with other ministries and sectors in regulating prices of State-managed goods, including petrol, contributing to boosting the domestic market and motivating the country’s economic growth in 2024. 

Taiwanese firm breaks ground on 45 mln USD computer plant in Thai Binh

Good Way Cayman Co. Ltd. from Taiwan (China) held a groundbreaking ceremony for a large-scale plant manufacturing computers and their peripheral equipment at the Lien Ha Thai Industrial Park in the northern province of Thai Binh on February 19.

The 5-ha project boasts a total investment capital of 45 million USD and an annual production capacity of 3.7 million products. It is the third foreign-invested project in this field in the park which is part of the Thai Binh Economic Zone.

In the first phase, the project is set to yield 1.85 million products per year, with construction slated for completion in the third quarter of 2024 and official production due for the first quarter of 2025.

Construction in the second phase will start in the fourth quarter of 2026, with production set to follow suit in the second quarter of 2027. Its operational lifespan is set to be 47 years.

Once operational, it is expected to generate a steady revenue of about 4.4 trillion VND (183.3 million USD) and contribute around 307 billion VND to the State budget per year. It is also to create jobs to some 645 workers, with an average monthly salary of about 7 million VND.

Metfone celebrates 15 years of operation in Cambodia

Metfone under the Viettel Military Industry and Telecoms Group (Viettel) marked its 15 years of operation in Cambodia at a ceremony held in Phnom Penh on February 19.

Speaking at the event, Viettel Chairman Tao Duc Thang said that the group has invested and transferred state-of-the-art telecommunications technologies to Cambodia, helping generate social benefits in the country over the past 15 years.

Metfone and Viettel as a whole have been a pioneer that leads Cambodia’s digital transformation in recent years, he said, highlighting Metfone has developed advanced technologies of the Fourth Industrial Revolution to provide Cambodia with digital platforms, solutions and services, contributing to the nation’s prosperity and sustainability.

To date, the company has signed cooperation deals with most of Cambodian ministries to promote digital transformation in the nation, he stressed.

Affirming Metfone’s desire to make further contributions to Cambodia’s development, Thang affirmed the company will work to ensure that no Cambodian is left behind with the support of technologies.

Meanwhile, Metfone General Director Cao Manh Duc said that Metfone, which has won confidence of Cambodians over the past years, has served as a bridge to promote the friendship and solidarity between the two countries and two peoples.

Metfone will accompany the Cambodian Government and enterprises to develop the country in the coming time, he added.

Cambodian Deputy Prime Minister and Minister of Defence Tea Seiha hailed the company’s operation in the past 15 years, saying he hopes that Metfone will continue supporting the Cambodian Government’s Pentagon Strategy-Phase 1 on the development of digital economy and society.

Metfone’s successes and unceasing development are a symbol for the friendship cooperation between Vietnam and Cambodia, the official said.

First container of Ha Giang pickled daikon in 2024 exported to Japan

The first container of pickled daikon in 2024 from the northern province of Ha Giang was exported to Japan on February 19 within the cooperation in the value chain linkage between Ha Giang and the Vietnam Misaki Co., Ltd.

Secretary of the Xin Man district Party Committee Hoang Nhi Son said that the locality has focused on developing typical agricultural products along the value chain of high-quality goods in order to help ethnic people there tap their agricultural economic potential while increasing incomes for the locals and bringing the province’s agricultural product brand to the world.

Hoang Thi Lap, director of the Vietnam Misaki Co., Ltd. revealed that in 2024, the company will continue to develop and expand raw material areas, invest in more modern machinery and equipment, and expand the production to meet the increasing quantity and quality requirements.

The company has provided farmers with high-quality seeds and fertiliser.

Under the cooperative programme, exports include pickled onion, daikon, ginger, and bamboo shoot. The Japanese side has also completed the preliminary processing facilities for daikon with a production scale of 1,000 tonnes per year.

Pharmaceutical industry must be managed under market rules: Deputy PM

Deputy Prime Minister Tran Hong Ha underlined the need to manage the pharmaceutical industry under market rules, ensuring publicity, transparency, quality control, safety, and cheapest prices during a meeting in Hanoi on February 19 to discuss the law on amendments and supplementations to some articles of the Law on Pharmacy.

Ha asked the Ministry of Health (MoH) to collect ideas and fully clarify regulations in the bill, especially those related to the implementation of international commitments and agreements as well as laws on investment, price management, advertising, and rights of foreign-invested enterprises.

At the same time, the simplification of administrative procedures in the field should ensure close, scientific management and safety, he said.

The ministry was requested to design regulations on recognising and referring standards and quality of drugs that have been tested by the World Health Organisation (WHO) or national pharmaceutical management agencies recommended by WHO, and add some clinical pharmacological assessment criteria to ensure safety and suitability for Vietnamese people's physical condition.

 Illustrative image (Source: tuoitre.vn)
Deputy PM Ha also asked the MoH to support foreign pharmaceutical firms to invest in drug production and transfer technologies in Vietnam, and effectively tap domestic herbal medicine potential.

According to MoH Deputy Minister Do Xuan Tuyen, three key pillars in the management of the pharmaceutical industry are circulation registration number granting, prices, and quality of drugs.

Minister of Health Dao Hong Lan said that the bill shortens the time for renewing drug circulation registration numbers from three months to 15 days, while applying automatic renewal.

At the meeting, participants gave ideas on various issues included in the bill. Deputy Minister of Justice Dang Hoang Oanh proposed that the bill should specify regulations on supporting and promoting the growth of the pharmaceutical industry.

Deputy Minister of Public Security Sen. Lieut. Gen. Nguyen Duy Ngoc suggested that it is necessary to design suitable management measures for toxic medicinal herbs used to make medicine, while ensuring a certain level of openness in importing medicine in urgent situations to serve national defence and security needs.

Pfizer Vietnam General Director Darrell Oh proposed the application of mechanisms to use assessment and inspection results of pharmaceutical management agencies recommended by WHO.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that the MoH should design regulations that are consistent with the definitions of the World Trade Organisation (WTO) and current laws, and compatible with other industries.

Path to modern north-south hi-speed railway construction outlined

The building of the north-south hi-speed rail line must ensure modern, cohesive, and sustainable elements in line with the Politburo’s guideline as outlined in Conclusion No. 49-KL/TW, permanent Government members made the conclusion in a document issued by the Government Office on February 19.

They requested that the project be integrated into a comprehensive planning framework, incorporating strategic forecasts of transportation demand across all modes of aviation, road, rail, maritime, and inland waterways, over the long term.

About the investment scenario, the Ministry of Transport (MoT) was asked to continue conducting a thorough research and collecting feedback from numerous experts to select the most appropriate course of action.

Further attention must be paid to finetuning the institutional framework, including the revised Railway Law and site clearance mechanism, and restructuring the Vietnam Railways Corporation (VNR).

The ministry must work closely with the Government Office to explore the establishment of a task force to carry out the project, led by Deputy Prime Minister Tran Hong Ha.

An optimal solution to the project should be submitted to the permanent Government members and Politburo in March while a feasibility study report for the project must be presented to the National Assembly for consideration this year.

Other tasks were also assigned to other ministries and centrally-run municipal and provincial People’s Committees.

The ministry was responsible for coordinating with the Ministry of Foreign Affairs and relevant agencies to urgently work with the Chinese side to finalise a memorandum of understanding regarding investment in three railway lines of Lao Cai - Hanoi – Hai Phong, Hanoi - Dong Dang, and Ha Long - Mong Cai, among others.

Longan exports took in $14 million in 2023

Vietnam earned more than $14 million from longan exports last year, an increase of nearly 2.5 times compared to 2022, according to General Department of Vietnam Customs.

Longan saw the second-largest export growth for a fruit last year, after durian. China, Australia, Thailand, and Japan are the major importers.

According to the Vietnam Fruit and Vegetable Association, China is the largest consumer of Vietnamese longans, and with improved export standards, Vietnam could narrow the gap between it and Thailand as the top supplier of longans to the market of more than 1.4 billion people.

Currently, longan is among the top five fruit trees with the largest growing area in Vietnam with more than 80,000 hectares and an average output of about 600,000 tonnes annually.

The export price of Vietnamese longans remained stable last year with the current price of Ido longan, a longan variety from Thailand grown in Vietnam, standing at between $0.67 and $0.76 per kg. At this price, farmers can earn a profit of between $337 and $632 per 1,000 square metres.

Another renowned Vietnamese fruit, durian, increased in price by 20 per cent in the first months of 2024 compared to the end of 2023.

The Ministry of Agriculture and Rural Development (MARD) predicts that the prices of some agricultural products and fruits will change a lot this year. In January, coffee prices increased by between 4-9 per cent, rice prices by over 6 per cent, and mango prices by 8 per cent.

The MARD has set a growth target between 3.2 and 4 per cent for this year, with total export turnover of some $54-$55 billion.

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