Aquatic product exporters hope for recovery in remaining months
Despite a downward trend in aquatic product exports in the first half of 2023, the lower pace of month-on-month decline is giving hopes for a recovery in the remaining months of this year.
HCMCity (VNA) – Despite a downward trend in aquatic product exports in thefirst half of 2023, the lower pace of month-on-month decline is giving hopesfor a recovery in the remaining months of this year.
InJune, aquatic product exports brought home nearly 800 million USD, down 21%. Ofwhich, shrimp exports posted a turnover of 341 million USD, down 18% year onyear, marking the lowest decline since the beginning of this year,reported the Vietnam Association of Seafood Exporters and Producers(VASEP).
Theexport value of aquatic products hit nearly 4.2 billion USD in the first halfof 2023, down over 27% year-on-year.
VASEP'sCommunication Director Le Hang attributed the decrease to weak market demandand hikes in the prices of feed, fries and other input expenses, leading tohigher production costs. Despite lower selling prices, it remains difficult tofind buyers, resulting in increased inventory and escalating costs.
Shesaid inflation in many markets has shown no signs of cooling down, which ishindering the recovery of seafood consumption and imports in the US, the EU,and other regions.
However,several markets like Japan, the Republic of Korea and Australia are stillconsidered promising for Vietnam's products of strength, particularly highvalue-added processed aquatic products. Some Southeast Asian markets are alsoseen as potential due to their stable economies, lower inflation, andgeographical advantages, along with tariff benefits from free trade agreements.
Regarding support for enterprises, VASEP recently suggested the Government andrelevant ministries and agencies consider reducing lending rates, especiallythose denominated in the US dollar; extending the maturity of loans andcontinuing to provide credit lines to enable businesses to maintain thecollection of raw materials from farmers and fishermen, as well as processingand storing goods for export in the upcoming quarters.
🌳 VASEPalso proposed tax authorities expedite the process of VAT refund for exportedgoods and services, extend the policies on tax exemption and reduction,including land rent and various fees until the end of 2023 to alleviatefinancial pressures and help businesses overcome the currentdifficulties./.
Prime Minister Pham Minh Chinh on April 13 stressed the need to ease difficulties and remove obstacles, especially in terms of market, institutions, and credit capital, for the production, processing and export of forest and aquatic products.
Authorities of the south-central coastal province of Binh Thuan will inspect enterprises exporting aquatic products to the European market to prepare for the European Commission (EC)’s fourth round of inspection of the local fight against illegal, unreported and unregulated (IUU) fishing in late May.
Vietnam’s agro-forestry-aquatic product exports raked in 24.59 billion USD in the first six months of 2023, down 11.1% year on year while the country's imports reached 19.96 billion USD, resulting in a trade surplus of 4.63 billion USD, according to the Ministry of Agriculture and Rural Development (MARD).
The export turnover of agro-forestry-aquatic products in the third quarter of 2023 is expected to be equivalent to the figure in the same period last year, and is likely to see positive growth in the fourth quarter, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA) 
