Forestry exports estimated to exceed 5.8 billion USD in 8 months
The export value of forestry products is projected to hit 5.85 billion USD between January and August this year, increasing 13 percent on year and accounting for 23 percent of Vietnam’s total agro-forestry-fishery export.
Hanoi (VNA) – The export value of forestryproducts is projected to hit 5.85 billion USD between January and August thisyear, increasing 13 percent on year and accounting for 23 percent of Vietnam’stotal agro-forestry-fishery export.
According to estimations of the Vietnam Administration ofForestry (VNFOREST) under the Ministry of Agriculture and Rural Development, duringthe eight-month period, the trade surplus of forestry products will amount to4.39 billion USD, of which 4.09 billion USD are contributed by the shipmentof timber and wood products.
VNFOREST forecast forestry export to rise in the remainingmonths of the year, particularly to traditional markets like the US, China, theRepublic of Korea, Japan, and the EU.
Production forests are among major sources of materials forthe export. The entire nation has to date planted 130,858 hectares ofproduction forests. Most of the provinces in the northern mountainous regionhave completed their afforestation plan for 2018, some like Thai Nguyen and BacGiang even surpassed their targets.
About 12.3 million cubic metres of wood were exploited fromplanted forests in the first eight month of 2018, meeting 66.5 percent of theyearly plan and up 4.8 percent against the same period last year.-VNA
Vietnam’s exports account just 6 percent of the global timber and wooden furniture market which is estimated at 120 billion USD, said a local official.
The forestry sector earned 4.15 billion USD from exports in the first six months of the year, accounting for 46 percent of the yearly plan and up nearly 8.4 percent year on year.
Forestry posted the highest trade surplus, at 3.23 billion USD, amongst agricultural sectors in the first half of 2018, according to the Vietnam Administration of Forestry (VNForest).
Wood processing and forestry export must become a spearhead in Vietnam’s production and exports in the next ten years, making the country become the world’s leading forestry production and export hub, said Prime Minister Nguyen Xuan Phuc.
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&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative photo (Source: doanhnhansaigon.vn) 
