With 6.9 billion USD in revenue from wood and wood-based product exports in 2015, Vietnam has become the fourth biggest wood exporter in the world, following China, German and Italy.
Hanoi (VNA)ꦆ – With 6.9 billion USD in revenue from wood and wood-based product exports in 2015, Vietnam has become the fourth biggest wood exporter in the world, following China, German and Italy, according to the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA).
Of its total exports, the country earned 4.3 billion USD shipping wood-based products to foreign countries, up 7.8 percent from 2014. The US, China, Japan and the EU remained Vietnam’s largest wood consumption markets.
Exports of wood and wood-based products are expected to grow at a pace of 8 to 10 percent and stand at 7.2 to 7.3 billion USD in values in 2016.
Meanwhile, Vietnamese wood products have secured a foothold in the domestic market. Demand for wood commodities is expected to surge in 2016 thanks to upbeat signs from the real estate market, especially the apartment segment in previous year.
Currently, the producers are paying attention to adding more value to their products by increasing the use of technology in processing, and enhancing management and sale capacity.-VNA
The year 2015 is providing a golden opportunity for Vietnam’s wood exporters to boost their global exports, according to the Handicrafts and Wood Industry Association of Ho Chi Minh City (HAWA).
Wood exports gained the highest value among Vietnam’s farm exports in the first four months of this year, hitting nearly 2.1 billion USD, a year-on-year increase of 6.2 percent.
Wood export firms have pegged their hopes on the outcome of the forestry restructuring plan to assure the recognition of a Vietnamese wood brand and to expand market share.
Vietnam’s wood sector pocketed 425 million USD from exports to China in the first half of this year, ranking second among Vietnamese exports to China behind cassava.
Wood export in the southern province of Dong Nai totaled 1.2 billion USD in 2015, up 17 percent from 2014, according to the provincial Statistics Office.
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.
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.
Wood-based products for exports (Photo: VNA)
