The Republic of Korea (RoK) is currently the largest market for Vietnam’s squid and octopus exports with 37.7 percent of the total share, according to the Vietnam Seafood Exporters and Producers (VASEP).
By September 15, Vietnam had exported squid and octopus worth 110.3 million USD to the RoK, down 3.5 percent compared to the same period last year. Of the figure, frozen octopus accounted for 31 percent.
The RoK market has seen positive growth in frozen octopus imports, though fresh and iced octopus imports have declined.
From January-September, Vietnam exported about 292.7 million USD of squid and octopus.
♎ Japan is the second largest importer with a value of 71 million USD, accounting for 24.2 percent of the total share, followed by the EU and ASEAN with 13.8 and 13 percent, respectively.-VNA
Vietnamese aquatic products are gaining a firmer foothold in the global market as evidenced by healthy growth in export to both traditional and new markets.
In the first seven months of 2014, the country’s aquatic exports picked up 24.5 percent from a year earlier to 4.2 billion USD with the US, the EU, Japan, the Republic of Korea (RoK) and China as top importers.
There will be a lot of opportunities for Vietnam to export its seafood products to the Republic of Korea once the free trade agreement between the two countries is signed in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Republic of Korea (RoK) has been considered one of the most potential export markets for Vietnam’s aquatic products, especially after the two countries sign a free trade agreement in May.
The newly-inked Vietnam-Korea free trade agreement (VKFTA) will be a significant boost for Vietnamese aquaculture products, especially shrimp, cuttlefish and octopus, favourites in the Republic of Korea market.
China is a promising market for Vietnamese seafood exporters despite difficulties and challenges, experts said at a recent conference in Ho Chi Minh City organised by the VASEP.
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 image (Photo:VNA)
