Shrimp exports to Australia increased strongly in 2019, expanding at a two-digit growth rate, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Shrimp exports to Australia totalled nearly 121 million USD as of December 15, 2019, representing a rise of 12.6 percent over the same period of 2018 (Photo: baodautu.vn)
Hanoi (VNA) – Shrimpexports to Australia increased strongly in 2019, expanding at a two-digitgrowth rate, according to the Vietnam Association of Seafood Exporters andProducers (VASEP).
Shrimp exports to Australiareached nearly 121 million USD by December 15, 2019, representing a rise of12.6 percent over the same period of 2018 – the highest rate among the top tenshrimp export markets of Vietnam.
Australia was the seventh largestshrimp export market of Vietnam, according for 3.8 percent of Vietnam’s totalshrimp export revenue.
Shrimp exports to Australia haveseen strong recovery since April 2019, after posting a decline in 2018.
Especially, July saw thehighest increase of 56 percent, with November at a rate of 45 percent.
For many years, Vietnam was thelargest shrimp exporter to Australia, accounting for 42 percent of Australia’sshrimp imports, followed by China with 23 percent and Thailand with 22 percent.
Both Australia and Vietnam aremembers of the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) which took effect from the beginning of 2019. Accordingly,shrimp exported to Australia would enjoy zero tariffs.
According to VASEP, Australiawas among countries with strict requirements on food hygiene and safety.
VASEP urged firms to establishproduction chains to increase shrimp quality with clear origin to expandexports to Australia.
Shrimp exports to Australia hit114.7 million USD in 2018, dropping by 4.4 percent against 2017.
Vietnam’s shrimp exports sawtotal revenue of 3.39 billion USD in 2019, a decrease of nearly 5 percent./.
Export revenue of aquatic products in August was estimated at 833 million USD, bringing the result for the first eight months of this year to 5.52 billion USD, a drop of 1.2 percent over the same period last year.
Vietnam exported 1.93 billion USD worth of shrimp during January-August, down 8.1 percent from the same period last year, according to the Ministry of Agriculture and Rural Development’s Directorate of Fisheries.
Local shrimp-breeding enterprises have mobilised investment from various sources to expand production in an aim to attract partners from shrimp supply chains from around the world.
The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.
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.
Shrimp exports to Australia totalled nearly 121 million USD as of December 15, 2019, representing a rise of 12.6 percent over the same period of 2018 (Photo: baodautu.vn) 
