Vietnam earned 1.38 billion USD from exporting more than 800,000 tonnes of rubber in the first eight months of 2017, year-on-year rise of 54.1 percent in value and 12.8 percent in volume.
Vietnam earned 1.38 billion USD from exporting more than 800,000 tonnes of rubber in the first eight months of 2017 (Photo: VNA)
Hanoi (VNA) – Vietnam earned 1.38billion USD from exporting more than 800,000 tonnes of rubber in the firsteight months of 2017, year-on-year rise of 54.1 percent in value and 12.8percent in volume.
Export turnover of rubber products inJanuary-August rose 25.5 percent annually to 382.2 million USD.
China continued to be Vietnam’s top exportmarket with 867 million USD, 62.7 percent of the country’s total rubber exportturnover in the period.
Malaysia came second with 75.4 million USD andthe Republic of Korea was third with 56.7 million USD.
Vietnam remained as the world’s third largestrubber exporter with an estimated export turnover of nearly 4.36 billion USD in2016.
The rubber industry expects to bring home 4.5 billion USD in export this year, according to Tran Thi Thuy Hoa, Chief of the Office of the Vietnam Rubber Association (VRA).
The Ministry of Finance is considering scrapping the rubber export tax, with an aim to remove difficulties for companies amid falling latex prices and declining exports.
Vietnam ranked the world's third largest natural rubber producer and the fourth largest exporter following Thailand , Indonesia and Malaysia in 2013. Currently, when the rubber supply exceeds the demand, Vietnam needs to enhance the competitive edge to be able to maintain its rank in the global market, the Vietnam Business Forum Magazine (VBF) reported.
Vietnam shipped abroad an estimated 193,000 tonnes of rubber for 392 million USD in the first two months of this year, up 25.4 percent in volume and 2.4 times in value year-on-year.
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.
Vietnam earned 1.38 billion USD from exporting more than 800,000 tonnes of rubber in the first eight months of 2017 (Photo: VNA)
