Vietnam earned 7.83 billion USD from exporting forestry products in the first eight months of 2020, up 10.3 percent year-on-year and accounting for 29.9 percent of the agricultural sector's total export turnover.
Hanoi (VNA) 𝕴- Vietnam earned 7.83billion USD from exporting forestry products in the first eight months of 2020,up 10.3 percent year-on-year and accounting for 29.9 percent of the agricultural sector's total export turnover.
According to the Ministry of Agriculture and Rural Development’s VietnamAdministration of Forestry, the export value of wood and wooden products in the period was 7.32 billion USD, up 9.6 percent over the same period last year.
The export of non-timber forestry products surged21.6 percent, reaching 511 million USD.
The US, Japan, China, the EU, and the Republic of Korea remained key importers ofVietnamese forestry products in the eight-month period, with a total value of 7billion USD, or 89.5 percent of the country’s forestry export value.
The sector’s import value fell 9.3 percent, resulting in a trade surplus of 6.31billion USD in the period.
The Voluntary Partnership Agreement (VPA) on Forest Law Enforcement,Governance, and Trade (FLEGT) between Vietnam and the EU, which took effect onJune 1, 2019, has helped raise the competitiveness of Vietnamese wood and furniture in the EU.
Vietnam’s wooden furniture export turnover accounts for only 6 percent of theglobal market, meaning Vietnamese businesses have substantial opportunities toexpand.
🔥 According to Do Xuan Lap, Chairman of the Vietnam Timber and Forest Product Association (VIFOREST), exports of forestry products are predicted to rise 20 percentto 12.5 billion USD this year./.
Local wood processing enterprises need to expand supply chains with a focus on seeking suppliers from domestic and overseas markets to ease disruptions from China due to the novel coronavirus SARS-CoV-2 outbreak, experts have said.
The wood industry is facing a ‘disaster’ with many businesses left without orders from now until 2021 due to the COVID-19 pandemic, said the Vietnam Timber and Forest Product Association (VTFPA).
Vietnam's export value of wood and wooden products reached 2.7 billion USD in the first quarter of 2020, representing a year-on-year increase of over 16 percent, according to the Ministry of Agriculture and Rural Development.
After a sharp fall due to adverse impacts of the COVID-19 pandemic, wood export revenue has seen signs of recovery since June thanks to exporters’ efforts to adapt to the situation.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Photo: VNA) 
