Hanoi (VNA) ♐– Vietnam is likely to rake in 7 billion USD from exporting wood and wood-based products in 2015, up 500 million USD against 2014.
According to the Department of Forestry under the Ministry of Agriculture and Rural Development, the outlook for Vietnam’s wood exporters is promising and will enable the country to maintain its yearly growth of 15-20 percent.
The signing of the Vietnam-EU free trade agreement as well as the country’s participation in the Trans-Pacific Partnership agreement also open greater opportunities for Vietnam’s wood sector, with its export value forecast to expand after 2018.
Currently, Vietnam is the sixth largest wood exporter in the world, with export value growing 27.15 percent a year on average from 2001 to 2010, and 15 percent on average in the last five years to reach 6.5 billion USD in 2014.
China, Japan and the US are the three biggest importers of the commodity./.
Vietnam’s growing wood industry is interesting foreign investors, according to Chad Ovel, a partner at the private equity firm Mekong Capital, at a workshop in Ho Chi Minh City on June 12.
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.
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.
Illustrative image (Source: VNA)
