Tra fish processing for export Nguyen Minh Phuong from the department highlighted the potential of the Middle East market, saying that it boasts a huge purchase power, with standards which are suitable for Vietnamese firms. However, Phuong also underlined obstacles hindering Vietnamese exporters from entering the market, including unstable political situation in the Middle East, difference in culture, language between Vietnam and the region, as well as lack of a strategic and long-term strategy among Vietnamese exporters. Le Thai Hoa, Deputy Director of the agency urged local businesses to develop long-term plans to enter the market by developing a competent staff with good understanding of the regional culture and language. The Government approved a project on the development of the Vietnam – Middle East ties by 2025, Hoa said, adding that the ministry is working to issue an action plan to implement the project. Besides, the ministry has regularly hosted trade promotion events to help domestic firms approach the Middle East market, while instructing its trade offices in the region to keep Vietnamese exporters updated on the market’s situation and opportunities, Hoa said. Publicity campaigns have been conducted to introduce Vietnamese goods to the market, with the hope of entering the retailer network in the region, he added. According to the ministry, trade between Vietnam and the Middle East reached 12.8 billion USD in 2017, up 17.4 percent from 2016. Vietnam ’s main export goods are mobile phones, computers and accessories, seafood, footwear, garment and textiles, fiber, rice, pepper, wood… [Read full story]
Schwab to advise local firms to boost trade links with U.S.By Mong Binh - The Saigon Times DailyHCMC - Former U.S. Trade Representative Susan Schwab is on her way back to Vietnam to give local businesses advice on how to step up exports to the U.S. and expand trade links with partners in America and other major markets.The important points of Schwab’s upcoming trip were clarified by Anna Nguyen, president and chief executive officer of Link Work Unlimited International Event, which is organizing the trip, at a news briefing in HCMC on In addition to meetings with Government officials, Nguyen…... [read more]
They agreed to develop an action plan to implement the agreement as from October this year by connecting Falcon to Vietnam’s agencies, organisations, associations and businesses, sharing market information and other trade promotion activities. Vietnamese ambassador to the UAE Pham Binh Dam emphasised that the UAE is a strategic market in the Middle East, a transit centre among continents and the gateway for Vietnamese goods to penetrate foreign markets. Currently, the UAE is Vietnam’s fifth largest importer, however, there remains a great potential for future import-export activities. That’s why Vietnam has always sought ways to promote trade ties with the…... [read more]
In an opening speech at the event, Ta Hoang Linh, deputy head of the Trade Promotion Agency, said its purpose was to lay out an effective strategy to boost exports to these markets.Mr Linh said that exports from the domestic sector of Vietnam to the Middle Eastern and African economies have seen some improvement over recent years, but lags far behind its full potential.About 62% of both domestic and foreign sector exports from Vietnam, which amounted to US$6.28 billion in 2015, to the respective economies consisted of telephones and components, he said.He attributed in large part the inability of Vietnam…... [read more]
Countries in these regions had import demand for food, agricultural, seafood and consumer products that Viet Nam was capable of providing, said Le Thai Hoa, deputy director of the Africa, Western and South Asia Markets Department. The Middle East region, with high GDP per capita, had strong purchasing power and good solvency, while Africa had huge demand for goods. Viet Nam already imports fuel, diesel, plastics, ores and metals from these countries. According to Vu Van Chung, Deputy Director of the Department of Foreign Investment, Vietnamese investment into African countries had recently increased, with the Viettel Group embarking on $345.6…... [read more]
HA NOI (Biz Hub) — The National Assembly plans to increase the tax imposed on enterprises exploiting natural resources but local enterprises have suggested to the state to consider the timing for applying new rates.The domestic enterprises expressed their opinion during a meeting convened on Tuesday by the Viet Nam Chamber of Commerce and Industry to elicit the opinion of local firms regarding enhancing the natural resource tax as per a draft decree, amending and adding to the Standing Committee of the National Assembly's Decree 712/2013/UBTVQH13.Pham Dinh Thi, the head of the Ministry of Finance's Tax Policy Department, said after…... [read more]
