Vietnam promotes exports to Australia, New Zealand

By teaming up with MP Logistics Corporation (MP Logistics), South Korean enterprise Samsung not only demonstrated its interest in the Vietnamese logistics sector, but its participation also heats up the market. Manufacturing activities in Samsung Display in the northern province of Bac Ninh RELATED CONTENTS: PM values Samsung’s investment in VN Samsung Sourcing Fair 2017: more opportunities for local firms Park refuses order to testify in Samsung heirs trial From electronics to logistics On July 14, 2017, Samsung SDS Co., Ltd., a subsidiary of Samsung Group, established a joint venture with MP Logistics with the aim of expanding its logistics business in Vietnam. The cooperation with MP Logistics is expected to help Samsung’s information and technology (IT) and logistics services access to the Vietnamese cargo transportation industry. “The logistics market in Vietnam has an annual growth rate of about 15-20 per cent due to the promotion of free trade agreements with South Korea, China, Japan, and the European Union (EU),” a leader of Samsung SDS said. Samsung SDS expected that this cooperation would expand its business in the Vietnamese IT-based logistics market, as well as other transportation services for consumer goods and food. “This new joint venture will give us the motivation to expand our business in the Vietnamese logistics market,” Kim Hyung-tae, vice chairman of…... [read more]

Workers package dragon fruit at Cat Tuong Agricultural Products Producing & Processing Co Ltd. The fruit is favoured by many Korean consumers. — VNA/VNS Photo Minh Tri Domestic companies have not taken full advantage of the incentives offered by preferential tariff policies for Vietnamese firms to sell products to South Korea, according to the deputy director-general of the Asia-Pacific Market Department under the Ministry of Industry and Trade (MoIT). Le An Hai said that South Korea could be a great market for Viet Nam’s agriculture, forest and fishery exports, but Vietnamese agricultural exports accounted for only a small amount of South Korea’s total agricultural import value, which was around US$100 billion last year. Hai spoke at a seminar on promotion of processed Vietnamese food, seafood and agricultural product exports to South Korea held in HCM City yesterday. Reduced tariffs are available under the Viet Nam-South Korea Free Trade Agreement, which came into effect in December 2015, and the ASEAN-South Korea Free Trade Agreement, offering opportunities for Vietnamese exports. “Though China is still the most important market for Viet Nam’s agricultural products [it imported $16 billion worth of Vietnamese agro-forest-fishery products last year], South Korea is one of our top priority markets,” he said. “Like Japan, Australia and New Zealand, South Korea is a very strict market in terms of required quality for imported products. If we can win over these markets, we can access many other markets more easily,” he added. …... [read more]

Seafood products are processed at Ngo Quyen Seafood Processing Joint Stock Company in Kien Giang Province for exporting to Japan, South Korea, Australia and the Europe. South Korea for the first time became Viet Nam’s second-largest trade partner in the first half of 2017. – VNA/VNS Photo Manh Linh South Korea has surpassed the US, the European Union and ASEAN for the first time to become Viet Nam’s second-largest trade partner, after China. According to the General Department of Customs, in the first half of this year, trade value between Viet Nam and South Korea reached $29.12 billion, accounting for 14.7 per cent of total national trade value, of which export value from Viet Nam to South Korea stood at $6.57 billion while import value from South Korea to Viet Nam was $22.56 billion. That import value with strong growth at 51.2 per cent year-on-year made Viet Nam’s trade deficit with South Korea increase to $15.99 billion, higher than its trade deficit with China at $13.72 billion. The Ministry of Planning and Investment said these figures showed that Viet Nam had promoted imports from South Korea and that country, therefore, became the second largest goods supplier of Viet Nam, after China. Viet Nam mainly imported machines and equipment from South Korea for South Korean investors’ factories to produce export goods in Viet Nam. Nguyen Duc Thanh, director of the Viet Nam Institute for Economic and Policy Research, said this development and current…... [read more]

South Korea has surpassed the US, the European Union and ASEAN for the first time to become Viet Nam’s second-largest trade partner, after China. Seafood products are processed at Ngô Quyền Seafood Processing Joint Stock Company in Kiên Giang Province for exporting to Japan, South Korea, Australia and the Europe. South Korea for the first time became Việt Nam’s second-largest trade partner in the first half of 2017. According to the General Department of Customs, in the first half of this year, trade value between Việt Nam and South Korea reached $29.12 billion, accounting for 14.7 per cent of total national trade value, of which export value from Việt Nam to South Korea stood at $6.57 billion while import value from South Korea to Việt Nam was $22.56 billion. That import value with strong growth at 51.2 per cent year-on-year made Việt Nam’s trade deficit with South Korea increase to $15.99 billion, higher than its trade deficit with China at $13.72 billion. The Ministry of Planning and Investment said these figures showed that Việt Nam had promoted imports from South Korea and that country, therefore, became the second largest goods supplier of Việt Nam, after China. Việt Nam mainly imported machines and equipment from South Korea for South Korean investors’ factories to produce export goods in Việt Nam. Nguyễn Đức Thành, director of the Việt Nam Institute for Economic and Policy Research, said this development and current structure of import and export goods reflected the trend of dependence on trade…... [read more]

Vietnam and Israel have agreed to strengthen their cooperation during the second meeting of the Vietnam-Israel inter-governmental committee for cooperation in economy, science, technology and other areas. Minister of Science and Technology Chu Ngoc Anh (left) and Israeli Minister of Economy and Industry Eli Cohen. The information was released by Vietnamese Minister of Science and Technology Chu Ngoc Anh, who co-chaired the meeting, during an interview with Vietnam News Agency’s correspondent in Tel Aviv, Israel, on the sidelines of the event. The two sides noted with satisfaction the already fruitful cooperation between the two countries, with two-way trade increasing significantly during 2010-2016, he said. They also began negotiations for a free trade agreement with three meetings and are preparing for the next round, he said, noting Israel has recognised Vietnam’s market economic status. Both agreed that Vietnam and Israel hold a lot of potential for cooperation as the two economies are reciprocal. At the meeting, they agreed to work together to raise bilateral trade to 3 billion USD as agreed by the two countries’ leaders and accelerate the signing of the trade deal, while seeking an agreement on labour cooperation.   The two sides also set forth measures to implement a financial protocol. Israel said the country stands ready to share its experience in launching and promoting start-ups. They also agreed on measures to step up cooperation in technology, agriculture, navigation and development. Anh said Vietnam and Israel will mark the 25th anniversary of their diplomatic ties in 2018 and…... [read more]

The information was released by Vietnamese Minister of Science and Technology Chu Ngoc Anh, who co-chaired the meeting, during an interview with Vietnam News Agency’s correspondent in Tel Aviv, Israel, on the sidelines of the event. The two sides noted with satisfaction the already fruitful cooperation between the two countries, with two-way trade increasing significantly during 2010-2016, he said. They also began negotiations for a free trade agreement with three meetings and are preparing for the next round, he said, noting Israel has recognised Vietnam’s market economic status. Both agreed that Vietnam and Israel hold a lot of potential for cooperation as the two economies are reciprocal. At the meeting, they agreed to work together to raise bilateral trade to US$3 billion as agreed by the two countries’ leaders and accelerate the signing of the trade deal, while seeking an agreement on labour cooperation.   The two sides also set forth measures to implement a financial protocol. Israel said the country stands ready to share its experience in launching and promoting start-ups. They also agreed on measures to step up cooperation in technology, agriculture, navigation and development. Anh said Vietnam and Israel will mark the 25th anniversary of their diplomatic ties in 2018 and the two sides will coordinate to implement cooperation programmes for the interests of each side. According to the minister, during his trip to Israel, the two countries’ ministries of science and technology signed a memorandum…... [read more]

Hanoi, July 28 (VNA) - Local private enterprises have improved their productions and operations, but half of them still must take operational and production loans, according to the Vietnam Chamber of Commerce and Industry (VCCI).  VCCI research surveys show that Vietnamese private enterprises had developed robustly since 2000, and they had registered to operate mainly in sectors of commerce, services and construction.  Few of them had joined the production and industry sectors, and local private enterprise contribution to the domestic economy remained limited, said the VCCI.  According to the survey roughly 50 percent of local private enterprises have taken loans. Large firms commonly took big loans. They have used the loans mainly to stabilise operations, but not to invest in updating equipment and technology.  At 2 percent, the portion of enterprises using high technology is very low compared to other countries in the region. Small and medium-sized private enterprises have invested only 0.2-0.3 percent of their revenue to technology reform.  Small and medium sized enterprises (SMEs) and private firms have paid attention to quality of products and strategies on products because of high market demand.  However, SME production has continued a low technology rate and has been mainly based on labour advantages.  Meanwhile, SME managers lack skills, management knowledge and reform experience, leading to a failure to implement regulations on tax, financial management, labour, product quality and intellectual property.  Dau Anh Tuan, Head of VCCI Legal Department, said according to…... [read more]

Illustrative photo (Photo: VNA)     Hanoi (VNA) - Local private enterprises have improved their productions and operations, but half of them still must take operational and production loans, according to the Vietnam Chamber of Commerce and Industry (VCCI). VCCI research surveys show that Vietnamese private enterprises had developed robustly since 2000, and they had registered to operate mainly in sectors of commerce, services and construction. Few of them had joined the production and industry sectors, and local private enterprise contribution to the domestic economy remained limited, said the VCCI. According to the survey roughly 50 percent of local private enterprises have taken loans. Large firms commonly took big loans. They have used the loans mainly to stabilise operations, but not to invest in updating equipment and technology. At 2 percent, the portion of enterprises using high technology is very low compared to other countries in the region. Small and medium-sized private enterprises have invested only 0.2-0.3 percent of their revenue to technology reform. Small and medium sized enterprises (SMEs) and private firms have paid attention to quality of products and strategies on products because of high market demand. However, SME production has continued a low technology rate and has been mainly based on labour advantages. Meanwhile, SME managers lack skills, management knowledge and reform experience, leading to a failure to implement regulations on tax, financial management, labour, product quality and intellectual property. Dau Anh Tuan, Head of VCCI Legal Department,…... [read more]

Minister of Science and Technology Chu Ngoc Anh (left) and Israeli Minister of Economy and Industry Eli Cohen. (Photo: VNA) Tel Aviv (VNA) - Vietnam and Israel have agreed to strengthen their cooperation during the second meeting of the Vietnam-Israel inter-governmental committee for cooperation in economy, science, technology and other areas. The information was released by Vietnamese Minister of Science and Technology Chu Ngoc Anh, who co-chaired the meeting, during an interview with Vietnam News Agency’s correspondent in Tel Aviv, Israel, on the sidelines of the event. The two sides noted with satisfaction the already fruitful cooperation between the two countries, with two-way trade increasing significantly during 2010-2016, he said. They also began negotiations for a free trade agreement with three meetings and are preparing for the next round, he said, noting Israel has recognised Vietnam’s market economic status. Both agreed that Vietnam and Israel hold a lot of potential for cooperation as the two economies are reciprocal. At the meeting, they agreed to work together to raise bilateral trade to 3 billion USD as agreed by the two countries’ leaders and accelerate the signing of the trade deal, while seeking an agreement on labour cooperation.   The two sides also set forth measures to implement a financial protocol. Israel said the country stands ready to share its experience in launching and promoting start-ups. They also agreed on measures to step up cooperation in technology, agriculture, navigation and development. Anh said…... [read more]

A corner of AEON Mall in Ha Noi. — Photo baotintuc.vn Thirty-five Japanese businesses introduced various food items at a programme to connect businesses in the field of food, agricultural and forestry products and seafood in HCM City on Wednesday. Under the programme, the Japanese businesses showcased many products, including rice, wheat flour, beef and seafood, as well as fresh fruit, canned juice, wine and powder milk. Cool Hokkaido introduced Nanatsuboshi rice, ranked the top in a contest to evaluate Japanese rice flavour for six consecutive years. The rice is special for its taste and suitable for making sushi and com nam -- a Vietnamese rice dish of the northern region that is shaped into a roll. Meanwhile, JA Fukushima Company showcased Megumi juice, which is condensed from fresh peach and has no sugar and preservative substances. Several Vietnamese businesses that participated in the programme said the Japanese food products were higher priced in comparison with other Asian countries such as South Korea and Thailand. However, known for their safety and special flavour, many kinds of Japanese food products had evinced interest in Viet Nam and witnessed high growth in consumption. Takimoto Koji, chief representative of the Japan External Trade Organisation in HCM City, said Viet Nam was a potential market for food products originating from Japan. According to a statistics from 2016, Viet Nam ranked seventh on the list of countries importing food and agricultural products from Japan. …... [read more]




Links Topics : http://news.c10mt.com/2017/07/vietnam-promotes-exports-to-australia.html