Export targets of key forestry and aquatic products lowered. (Photo: VNA)
Hanoi (VNA) ဣ– Export targets of some forestry and aquatic products have been lowered due to various difficulties regarding prices and markets.
The Vietnam Cashew Association (Vinacas) has proposed curtailing cashew nut export turnover from 3.8 billion USD to 3.05 billion USD. The forestry sector has reduced its export target from 18 billion USD to 14billion USD due to a strong slump in prices of wood materials and wooden products. The Vietnam Association of Seafood Exporters (VASEP) has also revised down export target and put forth two scenarios. In the best scenario with a recovery of the market and a stable supply of raw materials, aquatic product exports in the remaining five months of 2023 may reach over 4 billion USD, bringing the total export value in 2023 to 9 billion USD and representing a decline of 15-16% compared to 2022. In the less optimistic scenario, the sector will onlybring home 8.5-8.7 billion USD this year. In the latest report of the Ministry of Agriculture andRural Development, the total export revenue of agro-forestry-aquatic products was 29.13 billion USD in the first seven months of 2023, a drop of 9.1% year on year.
The export earnings of aquatic and forestry products experienced the strongest fall of 25.4%, raking in 4.95billion USD and 7.79 billion USD, respectively./.
The US Department of Agriculture (USDA)’s Animal and Plant Health Inspection Service (APHIS) has announced its permission for Vietnam to export fresh husked coconut to the country.
Domestic enterprises imported a total of 6.26 million tonnes of petroleum products worth 4.95 billion USD in the first seven months of 2023, up 15% year on year in volume and down 13.5% in value, according to data from the Ministry of Industry and Trade.
Vietnam’s aquatic product exports are likely to suffer a drop in 2023 although market prospects are better than last year's end, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.
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
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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.
Export targets of key forestry and aquatic products lowered. (Photo: VNA) 
