Over the span of 2017 and the first three weeks of 2018, the price of the euro surged, causing mild unease among import-export businesses despite Vietnamese exports to the European Union (EU) hitting $40 billion per year. who would reap benefits from surging euro? hinh 0 Specifically, domestic importers like Nhon Trach 2, Bim Son Cement JSC, and Ha Tien I Cement JSC that previously applied to euro-denominated deposits and loans experienced major distress as the soaring price of euro multiplied their interest expenses from VND billions to dozens of billions. To date, a substantial number of domestic firms that imported commodities from Europe were reported to raise their commodity prices due to the volatility of the euro. In contrast, according to statistics provided by the General Department of Vietnam Customs (GDVC), Vietnam’s total commodity export volume to the EU was estimated at over $38 billion, equivalent to 14 per cent of gross domestic export sales. Nguyen Ton Quyen, vice chairman and general secretary of Vietnam Timber and Forest Product Association (VIFORES), stated that Vietnam’s total exports of wood forest products achieved nearly $700 million in 2017 and is expected to escalate to around $800 million by the end of 2018. “The volatility of the euro would only have a minimal impact on wood products trade as the majority of exporting agreements with EU-based companies are denominated in US dollars,” Quyen added. Likewise, the exports of fisheries and aquaculture products to the EU stood at roughly $1.3 billion, leading the… [Read full story]
Traditional Miscellany (17-06-2007) Good deeds now may reap benefits in the future by Huu Ngoc When you see a collection box by the main altar in a pagoda, drop some money into it to help cover the cost of flowers and incense. You'll be acquiring some cong duc for yourself and your loved ones. Cong duc (gongde in Chinese), a Buddhist concept influenced by Taoism, Confucianism and popular beliefs, literally means "social virtues" or services rendered to society. In Buddhist terminology, it denotes virtues (duc) expressed through good deeds (cong). To the ordinary faithful, it simply means charity or devotion,…... [read more]
Just six months before kick-off in Euro 2012, Poland is already looking far beyond the tournament as it eyes the long-term benefits of hosting the football showcase. "This is a fantastic chance," Wojciech Folejowski, operations director at organising body PL.2012, told an economic-focused football conference in the southwestern city of Wroclaw. The quadrennial, 16-nation European championships traditionally draw hundreds of thousands of fans and a huge global television audience. "It will be crucial for our image," said Folejowski, who is supervising a vast array of projects, from stadiums and highways to airports and hotels. Euro 2012 kicks off next June…... [read more]
(CPV) - Greater integration brings benefits but also potentially huge risks, meaning Asian governments must work together to put in place policies and structures to ensure the region minimizes those risks and reaps the benefits, the Asian Development Bank (ADB) said in its new Asian Economic Integration Monitor in July 2012. "Developing Asia's strong economic growth is in large part due to increased economic and financial ties within the region but greater integration can bring contagion and other risks and we must address those threats through closer cooperation," said Iwan J. Azis, Head of ADB's Office of Regional Economic Integration.…... [read more]
CUU LONG DELTA (VNS)— Residents of the Cuu Long (Mekong) Delta are working hard to reap full benefits of the annual flooding season which brings in fertile silt, plenty of fish and other marine creatures. Water levels in the Delta's upstream areas are 40-70cm higher than the same period of last year, according to hydro-meteorological forecasting centres in provinces upstream the Mekong River. In An Giang Province, which is one of the Delta's hardest flood-hit provinces every year, farmers have begun to catch fish and shrimp from inundated paddy fields. Paddy fields in Dong Thap's Hong Ngu, Tam Nong and…... [read more]
NDO/VNA – The recent US visit by Prime Minister Nguyen Xuan Phuc has reaped significant outcomes in key pillars of the Vietnam-US comprehensive partnership, Deputy Foreign Minister Ha Kim Ngoc has said in an interview.The two sides issued a joint statement emphasizing the enhancement of the comprehensive bilateral partnership in a practical, effective and sustainable manner for the mutual benefit of both parties, as well as peace, stability, cooperation, and development in the region and beyond, whilst respecting the United Nations Charter and international law, respective political institutions, independence, sovereignty and territorial integrity.PM Phuc delivered a speech at the Global…... [read more]
