Hanoi (VNA) - Vietnam’sexports of forest products are expected to reach 9 billion USD in 2018, experts have said.
Reports delivered at a conference in Ho Chi MinhCity on March 27 said the country earned 8 billion USD from exporting forestproducts in 2017, of which 7.7 billion USD was contributed by wood and woodenproducts.
Representatives from woodenterprises stressed that the 9-billion-USD goal is achievablethis year.
Wood processing and exportfirms were urged to employ measures to ensure balance between demand and supply,towards promoting sustainable development of the wood processing and exportsector.
At a recent seminar held in HCM City, expertsalso said that wood processing and export businesses of Vietnam haveopportunities to expand markets and increase export value in the future.
According to Vice Chairman of the Handicraft andWood Industry Association of Ho Chi Minh City Huynh Van Hanh, aside from thestrong growth of the domestic property market, global demand for wood furnitureand wood items this year are predicted to rise by 3.5 percent and 4 percent,respectively.
Domestic wood enterprises were advised to paymore attention to updating technology, improving manpower quality andmanagement capacity, building their own brands, promoting product quality andboosting support services.-VNA
Exports of forestry products increased by 9.2 percent from 2016 to 7.97 billion USD in 2017, according to the Vietnam Administration of Forestry (VNForest).
Vietnam aims to raise its forest coverage to 41.6 percent and to earn 8.5–9 billion USD from exporting wood and forestry products while providing jobs to 25 million people in 2018.
Nguyen Chien Thang, Director of HCM City-based wood products maker Scansia Pacific, said his company has export orders for the whole year, which are 25 percent up from 2017.
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.
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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.
Illustrative image (Source: Internet) 
