There is plenty of room for Vietnamese fruit and vegetables to enter more stringent markets such as the US, Australia, and the EU by focusing on high-quality fruit, accurate origin certificates, and food safety standards, according to insiders.

The Republic of Korea has for over a month now welcomed Vietnamese pomelo, while China has opened its door to Vietnamese fresh coconuts and frozen durian. At the same time, negotiations on technical requirements for Vietnamese passion fruit to enter the US market have been completed.

This has helped expand markets, diversify export products, and reduce pressure on harvest seasons, creating greater added value for Vietnamese fruit.

Under Secretary for Trade and Foreign Agricultural Affairs of the US Alexis M. Taylor said that agricultural products of the two countries can supplement each other. Currently, eight types of Vietnamese fruit have been officially exported to the US, including dragon fruit, mango, grapefruit, rambutan, longan, lychee, star apple, and coconut. Meanwhile, Vietnam has opened its door to US fruit such as orange, grape, cherry, pear, peach, nectarine, blueberry, and apple.

Procedures allowing Vietnamese durian to be sold in China have also been completed.

According to statistics from the Ministry of Agriculture and Rural Development (MARD), Vietnamese fruit are now present in 60 markets around the world.

Phan Thi Thu Hien, Director of the MARD’s Post-Import Plant Quarantine Centre No. 2, said that each import market has its own regulations from food safety and hygiene to food quarantine for export shipments.

She clarified two groups of requirements from importing countries, including basic and high requirements.

Taylor said that there is plenty of room for Vietnamese fruit in the US market and advised Vietnamese exporters to choose a certain region, a certain state, or a certain community to enter. However, meeting all the needs of American market consumers is a huge challenge.

For other markets like China, their acceptation of Vietnamese frozen durian is expected to open opportunities for this product to expand markets.

Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetables Association (Vinafruit), said that the export of frozen durian products will help limit the backlog of goods during the main harvest season. This is a channel to help regulate output to stabilise prices, increasing income for farmers and businesses. At the same time, it is also the starting point for the growth of processed durian products and durian preservation technology, a springboard to exploit other markets outside of China, he said.

Along with China and the US, the European market is also showing increasingly interest in tropical fruits with health benefits and fresh flavours.

According to the Vietnamese Trade Office in Belgium and Europe, tropical fruits such as pomegranate, dragon fruit, and rambutan are considered specialties in this market. This is an opportunity for cooperatives and Vietnamese fruit exporting enterprises to conquer large markets such as Europe, said a representative from the office.

However, the official advised exporters to ensure that the fruits delivered to consumers are guaranteed to be fresh, delicious, and of high quality, meeting food safety and sustainability requirements.

Experts said authorities should soon develop national standards for processed products to serve as a basis for assessing product quality and standardisation before entering new global markets./.

Businesses from Vietnam, Cambodia, Laos strengthen cooperation

The Vietnam-Cambodia-Laos Business Forum was held in Ho Chi Minh City on October 6 to promote trade connections among businesses of the three countries.

Speaking at the event, Vice Chairman of the Ho Chi Minh City People's Committee Bui Xuan Cuong said economic and trade cooperation is an important cooperation pillar that contributes to consolidating the three countries’ relations.

He expressed his belief that the forum will send out a positive message and generate practical results for the countries.

Cambodia's Under Secretary of State for the Ministry of Foreign Affairs and International Cooperation Ouk Sophon emphasised the importance of the friendship relationship among the three, saying that together, they can create a dynamic ecosystem for more mutually beneficial cooperation for the people of each country.

He said Cambodia is ready to cooperate more closely with Vietnam and Laos, supporting the businessmen of the three countries to continue to develop and succeed, and creating new opportunities for economic growth, innovation, and shared prosperity.

He said the forum shows the three countries’ efforts in bringing together investors, relevant private sector representatives, and government officials to exchange detailed information on how to better move forward and position themselves in the current context.

More importantly, it will turn untapped potential into tangible benefits, contributing to the prosperity of the country and its people, he said.

At the event, participants heard reports on the Vietnam - Cambodia - Laos economic, trade and investment cooperation and their investment attraction policies. They also discussed activities of Vietnamese enterprises investing in Cambodia and Laos and made suggestions to promote trade activities and business connections of their businesses.

In the first eight months of 2024, Vietnam and Cambodia posted the bilateral trade turnover of 6.8 billion USD, 14.5% higher than that of the same period last year and is expected to reach 10 billion for the whole year.

Meanwhile, the Vietnam –Laos trade has grown stably with their bilateral trade turnover reaching 1.65 billion USD in 2023.

Vietnam is currently among the countries with top investment in Cambodia and Laos.

It has 205 investment projects in Cambodia with a total investment value of about 2.95 billion USD and 245 others in Laos with a total investment value of about 5.5 billion USD./.

Stock market seeks opportunities amid turbulent corrections: experts

After a series of previous gains, the stock market experienced a significant correction last week.

In Monday's trading session, the market was awash in red, and subsequent sessions saw the VN-Index fail to break through the 1,300-point mark.

This led to two consecutive declines by the end of the week, resulting in a total decrease of 20.32 points for the VN-Index.

Experts advise caution during this market correction phase; however, they also note that the VN-Index's support level of 1,250 points could attract bottom-fishing, providing a foundation for a medium-term recovery.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed the week at 1,270.6 points, while the HNX-Index on the Hà Nội Stock Exchange (HNX) ended at 232.7 points.

Both indices registered weekly declines, with the VN-Index dropping by 1.6 per cent and the HNX-Index by 1.3 per cent.

Liquidity improved on both exchanges compared to the previous week. Additionally, foreign investors were net buyers on the HoSE, with net inflows amounting to VNĐ446 billion.

They mainly focused on buying shares of TCB, FPT, MWG and PNJ. Conversely, foreign investors continued their net selling trend on the HNX, offloading VNĐ295 billion worth of shares, particularly in BVS, IDC and SHS.

Analysing market trends, Phan Tấn Nhật, Head of Analysis at Saigon-Hanoi Securities (SHS), noted that after the third quarter ended, the VN-Index surpassed its highest level of 2023 at around 1,250 points and moved into the first week of the fourth quarter.

The index continued to rally towards the strong resistance zone at 1,300 points. However, recent trading sessions have seen a sudden increase in supply pressure on many stocks, indicating short-term distribution pressure at this resistance level.

In the short term, Nhật stated that the VN-Index is transitioning into a correction phase, facing resistance at 1,290 points. In the upcoming week, the index is expected to consolidate within the 1,280-1,300 point range.

In the medium term, the VN-Index is anticipated to break through the 1,300-point mark and target higher levels of 1,320 points. The 1,300-1,320 point range serves as a strong resistance, representing the peaks of June-August 2022 and the early months of 2024.

Regarding the market’s fundamentals, Nhật pointed out that the VN-Index can only surpass these strong resistance levels with positive macroeconomic information and significant growth in the earnings reports of listed companies.

Đinh Quang Hinh, Head of Macroeconomics and Market Strategy at VNDIRECT Securities, shared that the VN-Index faced significant profit-taking pressure when approaching the 1,300-point resistance zone, leading to a downturn last week.

According to Hinh, the market correction was also influenced by the rebound of the USD/VNĐ exchange rate in the interbank market to 24,750 and the overnight interbank interest rate exceeding 4 per cent.

For the upcoming week, Hinh forecasted that the VN-Index might test the support area around 1,250 points (+/- 10 points). He expects bottom-fishing activities to emerge, as it is unlikely that the VN-Index will experience a deeper correction at this level.

In the medium term, Hinh maintains a positive outlook on Việt Nam’s stock market, citing several supporting factors. These include room for monetary policy easing, increased money supply in the year-end months, positive earnings growth prospects for listed companies in the third and fourth quarters, driven by Việt Nam's robust economic growth and a low comparison base in the second half of 2023.

Based on this outlook, Hinh recommended that investors consider resuming disbursements, prioritising stocks with positive business prospects and attractive valuations in sectors such as banking, industrial real estate, export-oriented industries (textiles and fisheries), and oil and gas.

Top leader attends ceremony honouring outstanding Francophone enterprises

Party General Secretary and President To Lam on October 5 attended a ceremony to hand over the Francophone Economic Forum (FFA) award to outstanding businesses where FPT Corporation of Vietnam was honoured.

The FFA award aims to honour outstanding businesses and individuals in various sectors and fields

In his speech at the event, Lam emphasised that as an active and responsible member of the Francophone community, Vietnam consistently implements the organisation's objectives, contributing to the solidarity and development of the Francophone organisation.

The award honours the dynamism and creativity of enterprises in the field of science and technology, he said, adding that the recognition of FPT Corporation with this award once again demonstrates Vietnam's active and proactive participation in the Francophone community.

Pham Minh Tuan, Deputy General Director of FPT Corporation and General Director of FPT Software, said it is honoured to receive this award as this recognition holds significant meaning for the continuous efforts and contributions by the FPT to the Francophone community.

Since entering the French market in 2008, the FPT has consistently focused on promoting international cooperation, economic relations, and cultural exchanges between France and Vietnam. Notably, in July, it established the FPT Francophone association, which connects high-quality French-speaking human resources within and outside the corporation. This initiative supports FPT's strategy to expand business operations not only in France but also in other French-speaking countries such as Canada, Belgium, Switzerland, Luxembourg, and Morocco.

As a partner providing digital transformation services and advanced technologies for major corporations in France, the FPT aims to be a bridge, accompanying French businesses in particular and those in French-speaking countries in general. The Vietnamese firm is committed to contributing to making Vietnam an attractive destination for new technologies, particularly in fields such as artificial intelligence, digital transformation, green transition, automotive technology, and semiconductors, Tuan said.

Thanks to the strong support and guidance from Vietnamese leaders, the FPT has achieved robust globalisation and expanded its reach worldwide over the past 25 years, he said, adding that this companionship has enabled it to confidently assert its position on the international stage, particularly in Francophone countries./.

Vietnam creating best conditions for French firms: Top leader

Vietnam is committed to creating all favourable conditions, in accordance with legal regulations, for French investors in general and Airbus in particular to invest and conduct business effectively and sustainably in Vietnam, Party General Secretary and State President To Lam told Benoit De Saint-Exupery, Executive Vice President Sales of the Commercial Aircraft business at Airbus, on October 5 (local time) on the sidelines of the 19th Francophonie Summit in Paris.

During the meeting, the top Vietnamese leader congratulated Airbus on maintaining its position as the world's largest aircraft manufacturer for the fifth consecutive year, noting that Airbus's high-quality and modern-technology aircraft have been effectively utilised by corporations and private enterprises in Vietnam, helping enhance the country's economic connectivity and contributing to socio-economic development.

Expressing his pleasure as Airbus will be delivering a new aircraft to VietjetAir on this occasion, Lam highly valued its cooperation with and support for Vietnam in the aviation sector, affirming that Vietnam welcomes and hopes Airbus will continue to invest in its strengths, such as aerospace, and support Vietnamese partners in researching and evaluating aircraft to help select the most suitable ones and carry out highly efficient flights.

Appreciating Airbus's commitments to supporting Vietnam in improving the quality of aviation industry and training pilots, Lam suggested the corporation promptly study and invest in manufacturing plants for components, and joining the development of Vietnam's aviation industry ecosystem.

He also proposed that in is operations in Vietnam, with its extensive customer network and global supply chain, the French firm will continue to encourage and support French businesses and Airbus partners to increase investment in Vietnam; assist in the development of supporting industries, foster innovation linked with technology transfer, especially high-tech, green, and clean technologies; and assist Vietnamese businesses in improving production capabilities and competitiveness to participate in the global supply chain.

Saint-Exupery, who is also Member of the Commercial Aircraft Leadership Team, said Airbus has had a cooperative relationship with Vietnamese agencies and businesses for nearly 30 years, noting that the corporation is collaborating with Vietjet on a contract to supply A350 aircraft, and is working with the Vietnam Airlines to research and upgrade its fleet, along with other related cooperation programmes and projects.

He expressed the desire to collaborate with Vietnam, hoping that Vietnam will continue to facilitate Airbus's cooperation with relevant organisations and businesses to sustainably upgrade and develop aircraft.

Receiving Philippe ERRERA, Executive Vice-President, International & Public Affairs of Safran Group, Lam congratulated the group on its business performance, and highly valued its effective business cooperation activities in Vietnam.

According Lam, regarding aviation infrastructure development, Vietnam has issued a plan on implementing the Master Planning on airport development in the 2021-2030 period with a vision to 2050. Vietnam has also introduced an action plan for green energy transition aimed at reducing carbon and methane emissions in the transportation sector. In the strategy for the development and application of space science and technology by 2030, Vietnam has set goals to widely apply the achievements of space science and technology, focusing in investments in key areas related to national defence, security, natural resources and environment management, disaster monitoring and mitigation, and providing a variety of services to the public.

He underlined the need for involvement of experts, organisations, and multinational corporations in this field to leverage resources and experience to support Vietnam's implementation efforts to achieve these goals.

Lam expressed his hope that Safran, in particular, and French businesses in general will participate in supporting the development of the space industry in Vietnam in the coming time. He also suggested Safran engage and coordinate with the Vietnamese Ministry of Science and Technology to specify collaborative activities in the near future.

For his part, Errera expressed his pride in cooperating with Vietnamese units and corporations, hoping to expand cooperation in many other areas where the group has strengths./.

Vietnam, France bolster transport cooperation

Vietnam and France will promote collaboration in railway, sea and inland waterway transport under a Memorandum of Understanding (MoU) recently signed between Minister of Transport Nguyen Van Thang and Director of the French Development Agency (AFD) Phillipe Orliange.

The MoU was inked in the framework of the trip to France by General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam for attendance at the 19th Francophonie Summit and an official visit to the country from October 3-7.

Accordingly, the two sides will work closely with each other in the planning work to facilitate energy transition, reduce emissions, enhance resilience and recovery, adapt to climate change, while carrying out an action plan on green energy transition of the transport sector. The AFD will support the Vietnamese Ministry of Transport (MoT) at international conferences and forums in prioritised cooperation areas, provide consultations and study to sponsor and transfer non-emission technologies, helping Vietnam develop transport infrastructure, vehicle and equipment.

At the signing ceremony, Minister Thang expressed his delight over the MoU signing in the domains of Vietnam’s interests to concretise its net-zero emissions commitment by 2050 at the 2015 and 2021 United Nations Climate Change Conferences.

Since Vietnam and France established their diplomatic relations in 1973, they have promoted comprehensive cooperation and maintained regular dialogue mechanisms in the domains of economy, politics, culture and defence, he said, adding the European country is currently the fourth largest trading partner of Vietnam in the EU, and accounts for a lion share of the trade relations between the nation and the bloc.

Transport cooperation is among the priorities that the two countries have bolstered over the past year, including that in aviation, railway, maritime and land road, he stressed, elaborating besides several completed projects, they have joining hands to carry out the Nhon – Hanoi Station metro line, using funding from the AFD.

He took the occasion to thank the French agency for providing capital for Vietnam’s railway infrastructure development and expressed his hope that under the assistance and sound coordination from the agency, the project will become operational soon.

Regarding the Hanoi – Hai Phong railway renovation project, Thang said the ministry requested the French Embassy in Vietnam and the French Treasury to provide technical support and make a feasibility study for the project, helping improve the operation capacity and efficacy of the existing Hanoi – Hai Phong railway, taking into account the future construction of the Lao Cai – Hanoi – Hai Phong railway.

Philippe Orliange, for his part, spoke highly of the MoU signing, considering it a new step to consolidate the dynamic and positive cooperation between the ministry and agency and the two countries as a whole.

He said that he is willing to promote the implementation of the MoU, affirming he stands ready to share experience and provide capital support for Vietnam in building and developing high-speed railway, the sector of France’s strength and Vietnam’s interest./.

PM demands special mechanisms for North - South high-speed railway project

Prime Minister Pham Minh Chinh on October 5 order specific and special mechanisms be devised for the North - South high-speed railway project so that procedures are streamlined and construction duration shortened.

He made the request while chairing a meeting between permanent Government members and ministries, sectors to discuss investment in the North - South high-speed railway project and the implementation of railway projects connecting with China.

The Ministry of Transport (MoT), together with other ministries and sectors, has studied high-speed railway models of many countries basing on which they proposed the North - South route of Vietnam should be 1,541km long, have a designed speed of 350km per hour, and comprise 23 passenger stations and five cargo ones. It should run through 20 provinces and cities, starting at Ngoc Hoi station in Hanoi and end at Thu Thiem station in Ho Chi Minh City. Total investment is estimated at 67.34 billion USD.

The MoT suggested that after the National Assembly (NA) approves the investment, bidding should be carried out to select an international advisory body while a survey to compile a pre-feasibility study report implemented in 2025 - 2026. Site clearance, contractor selection, and work on the sub-projects of the Hanoi - Vinh and Nha Trang - HCM City sections will be launched in late 2027. Meanwhile, the sub-projects of the Vinh - Nha Trang section will start in 2028 - 2029. The entire route is expected to be completed in 2035.

PM Chinh, who is also head of the State steering committee for key transport projects, stressed that the Noth - South high-speed railway project and the railway projects connecting with China hold critical importance to national development.

At the recent 10th session, the 13th Party Central Committee agreed in principle on investing in the North - South high-speed railway project, he noted, demanding ministries and sectors apply themselves to drafting this project to submit it to the Party Central Committee and the National Assembly for consideration, and propose the preparation of resources and other necessary conditions for implementation.

He said this railway will be amphibious, serving both socio-economic development and national defence - security. It must avoid large residential areas, be as straight and cost-saving as possible, and implemented in the fastest possible manner so as to be put into use soon to serve national development.

Besides, the route must be in conformity with the national and sectoral master plans, link with other means of transport like aviation and sea transport while connecting with domestic economic corridors and regional countries such as China, Laos, and Cambodia, he went on.

The Government leader also asked for reviewing total investment to ensure precision and considering specific and special mechanisms for this project, especially in terms of resource mobilisation, procedures, and policies on land, site clearance, and building materials in order to ensure that procedures are streamlined and construction duration shortened.

He pointed out the need to promoting cooperation with international partners to make use of financial sources, receive technologies transferred, train human resources, and improve governance capacity to guarantee the safest and most scientific and effective operations of the route.

At the meeting, PM Chinh also ordered the railway projects connecting Vietnam with China be accelerated, namely Lao Cai - Hanoi - Hai Phong, Hanoi - Lang Son, and Mong Cai - Ha Long - Hai Phong.

The Lao Cai - Hanoi - Hai Phong route is about 380km long and has an estimated investment of 11.6 billion USD. Passenger and cargo trains will run at 160km per hour.

About 156km long, the Hanoi - Lang Son route will be invested with about 6 billion USD in total. Both passenger and cargo trains on this route will also run at 160km per hour.

Meanwhile, the Mong Cai - Ha Long - Hai Phong is about 187km long and invested with 7 billion USD. Passenger and cargo trains will operate at 160km per hour and 120km per hour, respectively.

All these three railways will use a track gauge of 1,435mm./.

Samsung opens new store in Hanoi

Samsung Vietnam on October 4 announced the grand opening of Samsung West Lake, a new retail store at the Lotte Mall West Lake shopping centre in Hanoi.

According to the company, the opening marks a significant milestone in Samsung’s journey to deliver exceptional experiences to customers.

Featuring an advanced multi-device ecosystem, the store is poised to cater to the capital's discerning, tech-savvy consumers.

Spanning 367sq.m, the store is divided into four 'experience zones', each highlighting how Samsung products can seamlessly integrate into Hanoi residents' daily lives. Through this retail innovation, Samsung West Lake expects to introduce upgrades and professional services to create memorable visits.

Samsung West Lake reflects the Republic of Korea firm's commitment to fostering a deeper connection with the people of Hanoi by offering a mix of Samsung’s top-of-the-line and latest premium products. Visitors can experience firsthand how AI technology is enhancing their daily lives, from personalised smartphone experiences to intelligent home appliances that adapt to their needs.

“Samsung West Lake is a milestone step in Samsung’s expansion strategy nationwide, and a significant move to bring our technology closer to Hanoi residents,” said Lee Chung Lyong, president of Samsung Vina Electronics Co., Ltd.

“We aim to set new standards for premium retail experiences, aligning with our customers’ evolving expectations. Beyond a visually engaging and interactive product display, we aspire to offer a comprehensive journey into how our technology is conceived and how it serves the daily lives of our capital city residents.”

For the first time in Hanoi, consumers will be immersed in unique experiences within a space that is deeply rooted in the city's cultural heritage. Samsung West Lake draws inspiration from the distinctive cultural features of this thousand-year-old capital, fostering a sense of belonging for every visitor though display contents, aesthetics of the space and immersive experiences that highlight the seasonal transitions in Hanoi.

Samsung West Lake aims to create a premium and distinctive customer journey, inspiring visitors to fully explore the various zones showcasing the latest technologies designed to enhance everyday life.

To achieve this goal, Samsung West Lake connects its cutting-edge technology ecosystem with daily life through the presentation of Tech Tour 'Bat Pho Samsung', tied to Hanoi's four distinct seasons. At the launch, the first tour, 'Melody of seasonal transition in Hanoi', captivated tech enthusiasts./.

VPS dominates brokerage market share on HNX and UPCoM in Q3

The Hanoi Stock Exchange (HNX) has just announced the Top 10 brokerage market share list for the stock market in the third quarter of 2024, with VPS Securities JSC taking the top spot on both HNX and UPCoM.

The landscape of Vietnam's brokerage market shares witnessed notable shifts in the third quarter of 2024 compared to the previous quarter.

Despite a 3.02% decrease from the previous quarter, VPS Securities maintained its lead with a market share of 21.18%. Noteworthy movements include APG Securities JSC securing the seventh spot and Bao Viet Securities JSC (BVSC) claiming the ninth position.

Meanwhile, absent from the Top 10 on the HNX and UPCoM in Q3 were Vietcombank Securities Company and FPT Securities JSC, both former Top 10 members in Q2.

BIDV Securities JSC went up two ranks to claim the sixth position, whereas Mirae Asset Securities JSC went down two ranks to the eighth spot.

While market shares fluctuated within the remaining positions, the collective share of the Top 10 stood at 64.57%, slightly lower than the 67.43% recorded in the previous quarter.

On the UPCoM trading platform, VPS Securities continued to dominate, bolstering its market share by an additional 2.61 percentage points to reach an impressive 30.77%.

The Top 10 ranking saw significant shuffles, with Vietnam Construction Securities JSC and MB Securities JSC both going up one rank, and VNDirect Securities Corporation slipping down two ranks to the fifth position.

Following a 0.48% market share loss, Hồ Chí Minh City Securities Corporation (HSC) dropped by one rank. Mirae Asset Securities Company debuted at the ninth position with a 3.06% market share, while BIDV Securities exited the Top 10 list.

With VPS's remarkable market share surge, the Top 10 collectively commanded 72.97% of the UPCoM market share, marking an increase from the 70.35% share in the preceding quarter./.

Tay Ninh boosts trade, investment, tourism ties with Cambodian localities

Authorities of the southern province of Tay Ninh held a working session with a delegation from the Cambodian Ministry of Foreign Affairs and International Cooperation on October 4 to boost its trade, investment and tourism cooperation with Cambodian localities.

Standing Vice Chairman of the provincial People's Committee Nguyen Hong Thanh said Tay Ninh is now home to 337 projects, including 273 foreign-invested ventures worth over 8.79 billion USD and 64 domestic projects valued at more than 12.2 trillion VND (508 million USD). These investments have come from 21 countries and territories.

Tay Ninh has also extended its economic reach into Cambodia, with three projects valued at over 3.69 trillion VND, which focus on industrial crop planting and rubber processing.

A key focus of the meeting was the Ho Chi Minh City-Moc Bai expressway project, which will connect to the Ba Vet-Phnom Penh expressway as approved by both countries. Once completed, this will further enhance the two-way trade.

Thanh expressed Tay Ninh's commitment to collaborating closely with Cambodian diplomatic agencies and provinces to realise signed cooperation agreements, facilitate trade and cultural exchanges and healthcare and education cooperation activities for mutual development.

Under-Secretary of State of the Cambodian Ministry of Foreign Affairs and International Cooperation Ouk Sophorn said Cambodia is interested in enhancing transportation infrastructure connectivity among the border gates of Cambodian provinces and Vietnam's Tay Ninh and Ho Chi Minh City.

He also highlighted the potential for connecting Tay Ninh's Ba Den mountain national tourist area with Cambodia's iconic Angkor temple complex to further boost tourism opportunities.

The Cambodian ministry is ready to share information for tackling challenges, contributing to nurturing and deepening the friendship and cooperation between Vietnam and Cambodia, he said./.

Dutch fund awards major grant to Vietnamese coffee producer

In a significant boost to Vietnam's sustainable coffee industry, the Dutch Fund for Climate and Development (DFCD) has awarded a non-refundable aid package of 575,000 EUR (630,786 USD) to Phuc Sinh Corp to support its Environmental, Social, and Governance (ESG) initiatives in the coffee production, processing and export chain.

The grant, comprising 75% in cash and technical support, is the largest ever allocated to a Vietnamese company by the DFCD.

The DFCD, an initiative of the Dutch Government with a 160 million EUR budget, focuses on enhancing the resilience of communities and ecosystems vulnerable to climate change. Its priorities include clean water, environmental sanitation, forestry and sustainable agriculture.

Albert Bokkestijn, SNV-DFCD Project Manager, praised Phuc Sinh Corp as one of Vietnam's leading coffee processors and exporters, highlighting its pioneering role in obtaining the Rainforest Alliance (RA) certification.

Phuc Sinh General Director Phan Minh Thong announced plans to expand the number of households engaged in producing coffee certified as sustainable, saying that the company is also developing a traceability system to ensure transparency and integrity within its supply chain.

With the support of the DFCD, Phuc Sinh pledges to comply with the European Union Deforestation Regulation (EUDR), toward maintaining a sustainable flow of agricultural trade and ensuring farmers’ livelihoods, he said.

In addition to the DFCD grant, the corporation recently secured a 25 million USD investment from the Netherlands' The & GREEN Fund to drive the transformation of the coffee value chain into a sustainable, non-deforestation model./.

Vietnam's rice export turnover up 23.5% in nine months

Vietnam exported over 7 million tonnes of rice worth 4.37 billion USD in the first three quarters of 2024, up 9.2% in volume and 23.5% in value compared to the same period last year, the Ministry of Agriculture and Rural Development (MARD) has reported.

The average export price of rice stood at 624 USD per tonne, up 13.1%, the ministry said.

Recently, the Indian government lifted its ban on the export of non-Basmati white rice, ending the suspension that lasted over one year on overseas sales.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, with a well-structured ecosystem in the rice value chain closely linked to the market, Vietnam will not be significantly impacted by India's decision.

Vietnamese rice exporters said that India's decision will exert downward pressure on the prices of rice varieties in the market. However, the price of Vietnamese rice is unlikely to fall below 500 USD per tonne due to limited domestic supply.

Recently, Vietnam won a bid to supply nearly 60,000 tonnes of rice to Indonesia in its September rice tender with a winning price of 548 USD per tonne, down 32 USD from the previous price. Despite the price decrease in the bid, demand from key markets such as the Philippines and Malaysia remains high. Businesses said that Vietnamese rice has maintained its competitive position in the global market.

According to Dinh Ngoc Tam, Deputy General Director of Co May Company, the price of ST25 rice is unlikely to decrease and may even increase due to global supply shortages./.

HCM City’s industrial production up nearly 7% in nine months

Ho Chi Minh City’s Index of Industrial Production (IIP) increased by 6.9% year-on-year in the first nine months of this year, the municipal Department of Industry and Trade has reported.

Industrial production activities in the city continued to recover positively during the period. The improved IIP showed that the city's stimulus programmes, and the connection of domestic and international supply chains has generated excellent outcomes.

In September alone, the IIP rose 3.4% against August and 11.2% from the same period last year.

The index in the mining sector went up 2.7% month-on-month and 38.6% year-on-year, while that of the processing and manufacturing industry climbed 3.6% and 11.3% respectively. Electricity production and distribution saw the index down 2.4% month-on-month and up 5.1% year-on-year.

In particular, industrial production is identified as one of the pillars that have affected the city's overall economic growth, and proved the effectiveness of the city's stimulus programmes.

As an economic locomotive and industrial hub of Vietnam, HCM City has focused on promoting the development of key industries, including supporting industries and precision mechanics.

Vice Chairman of the municipal People's Committee Vo Van Hoan said it is necessary to continue implementing the demand stimulus programmes and connecting domestic and international supply chains as the localisation rate, despite remarkable results, still hasn't developed as expected.

With the increasing demand of multinational corporations for domestic supply sources, it requires local authorities, industry associations and enterprises to make further efforts to create breakthroughs, especially in areas requiring high technology such as aviation, electronics, and automobiles./.

Hanoi’s GRDP grows 6.12% in nine months

Hanoi’s gross regional domestic product (GRDP) in the first nine months of 2024 increased 6.12% compared to the same period last year, the Hanoi Statistic Office announced on October 3.

In the first nine months of 2024, Hanoi’s service sector increased by 6.76% over the same period last year.

Some industries saw relative good growth such as administrative activities and support services (up 17.22%), wholesale and retail (up 8.56%); accommodation and catering services (up 7.55%); finance, banking and insurance (up 7.38%), education and training (up 6.61%); and science and technology (up 6.49%).

The industrial and construction sector rose by 5.74% over the same period last year, contributing 1.15 percentage points to the city’s GRDP growth.

In the reviewed period, the Index of Industrial Production (IIP) rose 5.4% from the same period last year, in which the processing and manufacturing industry surged 4.8%; electricity production and distribution, 9.9%; water supply and waste and waste solide treatment, 10.1%; and mining, 0.9%.

The consumption index of the processing and manufacturing industry in September was up 1.1% compared to the same period in 2023.

In the first nine months, the index increased 9.9% over the same period last year.The city’s statistics office said that the industry witnesses positive recovery with increased orders.

Meanwhile, stable fuel prices and transportation costs have partly reduced the burden on industrial production./.

Russia to share experience in urban public transport development with Vietnam

Moscow will introduce best urban models that can be applied in localities at home and abroad, including Vietnam, Maxim Liksutov, Deputy Mayor in charge of transport and industry of the Russian capital city, has said.

Speaking at an event dedicated to the presentation of advanced solutions in the field of transport in Moscow on October 3 with the participation of representatives from nearly 40 localities across Russia, Liksutov said that the solutions implemented in Moscow could be replicated nationwide. Thanks to this, localities do not need to create their own ticketing solutions or parking payment systems, thus, they will be able to use the tools that have been successfully experimented in the capital.

Participants were briefed about best models for developing urban transport systems as well as advanced digital services for drivers and passengers. Specifically, Moscow's SberTroika ticketing system, Russia's first self-driving tram, the "Russian Parking" app, and the virtual assistant chatbot Alexander were showcased at the event.

Liksutov pledged that Moscow will transfer systems free of charge and provide assistance in implementation and maintenance, adding that it stands ready to share successful practices and collaborate with localities to improve the quality of life for citizens./.

HCM City calls for more investments in healthcare projects

Ho Chi Minh City is calling for more investments from different economic sectors in its healthcare sector to soon become a medical hub in ASEAN, local health officials said on October 4.

Speaking at a dialogue between the city authorities and medical businesses, Vo Hoang Nhan, from the municipal Health Department said in the 2021-2015 period, the city has 116 healthcare projects with an investment capital of more than 23 trillion VND (929 million USD) sourced from the budget. As the results, in recent years, many new hospitals have been built with modern equipment, helping to improve the city’s healthcare sector and meet public needs.

In the 2026 – 2030 period, the city expects to have 150 medical projects with a total investment capital of more than 52 trillion VND.

To become a medical centre in the region, HCM City plans to form large medical clusters, including those in Thu Duc City and Binh Chanh and Can Gio districts.

The municipal People's Committee has greenlighted an initiative on developing a project to mobilise social resources for the healthcare sector with policies, mechanisms, and legal corridors to attract investors, Nhan said.

At the dialogue, representatives from the Health Department also responded to concerns raised by medical businesses regarding the liencing for the circulation of medical equipment, regulations on drug registration and price adjustment, and preferential loans for investors in healthcare projects./.

Vietnam, Tunisia promote trade cooperation

The Vietnam Trade Office in Algeria and Tunisia last week coordinated with the Tunisian Union of Industry, Trade and Handicrafts (UTICA) to organise a conference to connect Vietnamese businesses and their peers in in Tunis.

The event saw the participation of representatives from several local ministries, sectors, and 60 businesses of the two countries. It was one of the activities in the working visit by the trade office delegation to Tunisia from September 30 to October 4.

Speaking at the event, Secretary General of Tunisian Federation of Textiles and Clothing Noha Dallagi said that although Tunisia is a small country with an area of 163,610 sq.m and a population of about 12.5 million people, it is one of the most dynamic and competitive economies in the African-Arab region, deeply integrated into the international community and has a convenient location with Europe, just 140 km away.

The country has participated in eight multilateral and bilateral free trade agreements (FTAs). Therefore, it can be considered a gateway for goods from countries, including Vietnam, to penetrate the African and Arab markets, especially the North African region.

Each year, Tunisia imports about 30,000 tons of raw coffee, mainly robusta coffee, and 30,000 tonnes of rice, while importing commodities such as rice, sugar, coffee, and green tea.

On this occasion, she called on businesses from both sides to actively learn about each other's advantages to strength cooperation.

She also called on Vietnamese businesses to study the possibility of investing, establishing joint ventures and partnerships with Tunisian partners in areas such as processing, new technology, marine fish farming.

Hoang Duc Nhuan, Vietnamese Trade Counselor in Algeria and Tunisia, briefed the participants on Vietnam’s economic and trade situation, import-export policies, and Vietnam- Tunisia relations. Vietnam exports to Tunisia items such as raw coffee, pepper, cashew nuts, seafood, machinery and equipment, razors, fabrics, and footwear, while importing seafood, dates, chemicals, plastic products, clothing, and raw materials for animal feed production.

At the conference, it was assessed that trade cooperation between the two countries is still modest, not commensurate with the potential because their businesses have not paid due attention to each other's markets. Businesses also pointed out difficulties they are facing including the recent high prices of some Vietnamese export products such as coffee or pepper, the sharp increase in transportation costs due to conflicts in the Middle East, and Tunisia's focus on the European Union (EU) and Africa markets due to geographical proximity and free trade agreements.

Dutch fund awards major grant to Vietnamese coffee producer

In a significant boost to Vietnam's sustainable coffee industry, the Dutch Fund for Climate and Development (DFCD) has awarded a non-refundable aid package of EUR575,000 (US$630,786) to Phuc Sinh Corp to support its Environmental, Social, and Governance (ESG) initiatives in the coffee production, processing and export chain.

The grant, comprising 75% in cash and technical support, is the largest ever allocated to a Vietnamese company by the DFCD.

The DFCD, an initiative of the Dutch Government with a 160 million EUR budget, focuses on enhancing the resilience of communities and ecosystems vulnerable to climate change. Its priorities include clean water, environmental sanitation, forestry and sustainable agriculture.

Albert Bokkestijn, SNV-DFCD Project Manager, praised Phuc Sinh Corp as one of Vietnam's leading coffee processors and exporters, highlighting its pioneering role in obtaining the Rainforest Alliance (RA) certification.

Phuc Sinh General Director Phan Minh Thong announced plans to expand the number of households engaged in producing coffee certified as sustainable, saying that the company is also developing a traceability system to ensure transparency and integrity within its supply chain.

With the support of the DFCD, Phuc Sinh pledges to comply with the European Union Deforestation Regulation (EUDR), toward maintaining a sustainable flow of agricultural trade and ensuring farmers’ livelihoods, he said.

In addition to the DFCD grant, the corporation recently secured a US$25 million investment from the Netherlands' The & GREEN Fund to drive the transformation of the coffee value chain into a sustainable, non-deforestation model.

US initiates probe into dumping and countervailing duties on Vietnamese steel

The United States Department of Commerce (DOC) has officially initiated an anti-dumping and countervailing duty investigation into corrosion-resistant steel (CORE steel) imported from Vietnam, according to the Trade Remedies Authority of Vietnam (TRAV).

The DOC determined that Vietnam exported CORE products worth US$626 million, US$751 million and US$242 million to the US in 2021, 2022 and 2023 respectively, ranking third among 10 countries under investigation, after Canada and Mexico.

The products that are subject to investigation include those with HS codes 7210.30, 7210.41, 7210.49, 7210.61, 7210.69, 7210.70, 7210.90, 7212.20, 7212.30, 7212.40, 7212.50, 7212.60, and 7226.99.

The anti-dumping and anti-subsidy investigation period is the first half of the year and the entirety of 2023, with the injury probe period being three years from 2021 to 2023.

On September 25, the  DOC issued a questionnaire both into anti-dumping and countervailing cases in order to select mandatory defendants.The deadline for submitting responses is  October 9, with a possible extension.

Businesses are required to proactively register for an IA ACCESS account at the DOC's electronic information portal at https://access.trade.gov/login.aspx and to stay updated on information and submit documents to the US investigation agency.

They are advised to regularly co-ordinate efforts and update information with the TRAV to receive timely support.

163 Vietnamese businesses eligible to export rice

As many as 163 Vietnamese businesses have been certified to meet the conditions for rice export, according to an update from the Import-Export Department under the Ministry of Industry and Trade.

Ho Chi Minh City tops the list with 38 businesses, followed by Can Tho (35), Long An (22), An Giang and Dong Thap (14 each), Hanoi (10), Thai Binh and Tien Giang (4 each), and Kien Giang (3).

The Import-Export Department cited data from the Ministry of Agriculture and Rural Development, indicating Vietnam shipped 7.01 million tonnes of rice for US$4.37 million between Jan. - Sept. 2024, up 9.2% in volume and 23.5% in export earnings year-on-year. The export price of Vietnamese rice remains promising, increasing by 13.1% over the same period last year.

Since the beginning of the year, the supply from some rice-exporting countries has been limited, while the quality of Vietnamese rice has continuously improved, catering to the diverse tastes of the global market. In addition, the import demand from Vietnam’s regular consumer, such as the Philippines, Indonesia, and Malaysia, remains high, fuelling the volume and price of Vietnamese rice this year.

However, India has recently made a series of moves to ease rice exports, which are expected to impact the global rice market. The world’s leading rice exporter issued a decision to lift its ban on exporting non-Basmati white rice.

Although the supply of non-Basmati white rice from India is not substantial, experts say India’s return to the market will exert downward pressure on prices for 5% and 25% broken rice.

Businesses and rice farmers have been advised to collaborate and coordinate in production and consumption to ensure a stable supply amid potential fluctuations in the global rice market due to the increased supply.

Hai Phong offers special commitments to FDI businesses

The northern port city of Hai Phong will offer special commitments, including due care, substantial support and effective measures, to accompany and assist foreign direct investment (FDI) businesses toward a win-win approach, said a leader of Hai Phong.

Meeting with FDI businesses on October 5, Le Tien Chau, Secretary of the municipal Party Committee, noted that Hai Phong has obtained impressive growth in FDI attraction in recent times, consistently ranking among the top in the country for registered investment capital and increasingly appealing to foreign investors. FDI businesses have made a significant contribution to the city’s socio-economic development.

The success of FDI businesses is of the city’s success, contributing to the growth of Hai Phong and Vietnam as a whole, he said.

He revealed that in the coming time, the city will focus on accelerating the establishment and expansion of industrial zones and economic zones, particularly the establishment of the Southern Coastal Economic Zone. It will also promote the procedures for establishing a new generation Free Trade Zone with superior incentives to attract global technology corporations.

Furthermore, the city will continue to invest in improving the logistics infrastructure and transportation systems to connect ports, economic zones, industrial parks, airports, high-speed rail, and expressways. It will also develop a high-quality workforce and skilled labor.

Hai Phong will continue implementing supportive measures for FDI businesses to carry out projects in the city regarding location, planning, land, environment, labour, and fire prevention and fighting, said the leader.

To deal with extensive power outages as seen during the height of the recent typhoon Yagi, he assured that Hai Phong will develop an emergency power supply plan to minimize sudden power outages that could impact the production chains of enterprises.

The city will mobilize resources to expedite the investment in power supply projects locally, he said.

During the dialogue, representatives from various FDI businesses raised key issues, including the city’s strategy for attracting FDI, training and enhancing the quality of the workforce, and addressing the need for social housing. Many other recommendations were made regarding land, construction, transportation infrastructure, taxes, customs, and energy.

Currently, there are 985 operational FDI projects in Hai Phong with a total registered investment capital of US$31 billion. These projects primarily operate in the fields of industrial production, making up over 83%, followed by real estate and infrastructure (14%), trade, services, and transportation.

Source: VNA//VNS/VOV/SGGP/VGP