#industry

Vietnamese rice has seen a number of advantages of export markets as both orders and selling prices have increased sharply, according to industry insiders.

The nation has plenty of room to increase coffee exports to Japan, whose hot coffee market is anticipated to expand by 4.2% during the 2020 to 2025 period, according to industry insiders.

Amid the ongoing complicated developments of the COVID-19 pandemic, escalating petrol prices have exerted tremendous pressure on local enterprises, especially those operating within the transportation sector, according to industry insiders.

Vietnamese shrimp exports are anticipated to enjoy an annual rise of 4% to reach roughly US$3.9 billion for this year, according to statistics given by the Vietnam Association of Seafood Exporters and Producers (VASEP).

The Ministry of Agriculture and Rural Development (MARD) is in the process of finalizing a draft project on developing the local fruit and vegetable processing industry, with the aim of bringing the nation into the top five countries globally.

The strong growth of the local e-commerce sector has become a driving force for the Vietnamese digital economy as several major technology firms recently injected their money into various e-commerce companies, according to industry insiders.

Vietnam’s GDP growth rate is unlikely to achieve the target of between 6% and 6.3% set for this year due to the impact of the fourth wave of COVID-19 infections across the country, according to industry insiders.

The 2021 Vietnam-Japan Supporting Industry Exhibition (SIE) and the Vietnam Manufacturing Expo (VME) will be held from September 15-17 with both onsite at the Viet Xo (Vietnam-Russia) Friendship Cultural Palace and online via the VME website.

With the EU-Vietnam Free Trade Agreement (EVFTA) set to come into force on August 1, it is considered a great opportunity for the Vietnamese textile and apparel industry, despite concerns that the rules of fabric origin will make it tough for local products to enjoy the benefits of the trade deal.

Vietnam’s leather and footwear industry should improve its supply chain performance to take advantage of the milestone trade deal that the country has signed with the EU and to recover from the effects of the COVID-19 crisis, speakers said at a recent international footwear conference.

As many as 90,500 new businesses were established in the first eight months of the year, with a combined registered capital of 1.1 quadrillion VND (47.3 billion USD), a year-on-year increase of 3.5 percent in the number of enterprises and 31 percent in capital, according to the General Statistics Office (GSO).

Vietnam’s textile and garment industry is striving to achieve export turnover of more than 40 billion in 2019, a year-on-year increase of 14-15 percent.

Three made-in-Vietnam rail mounted quayside cranes (RMQCs) are headed to India.

Southern localities of Vietnam has been a major destination for investment from the Republic of Korea (RoK) in recent years, and local textile-garment and footwear industries have proved to be a magnet for an influx of capital from this country.

The southern province of Binh Duong plans to focus on developing industry and smart services in 2019 by improving cooperation between the State, businesses and scientists, and promoting international exchanges.

The Ministry of Industry and Trade sees supporting the manufacturing and processing industry as the key to boosting socio-economic development this year.

The north-western mountainous province of Dien Bien is planning to intensify efforts in investment attraction to industry and tourism development so as to boost local growth next year.

The United States hosted a workshop in Ho Chi Minh City on December 6 focused on U.S.-Vietnam cooperation in Vietnam’s liquefied natural gas (LNG) power and infrastructure industry.  

The service industry in the northeastern border province is estimated to grow by 14.2% this year thanks to the locality’s concrete actions to boost its tourism services.