The Ministry of Industry and Trade (MoIT) will capitalise on signed free trade agreements (FTAs) to diversify markets, step up trade promotions and shift to exports through official channels with a view to gaining 377 billion USD in export revenue this year.
As production and business results in 2023 were unsatisfactory for some businesses, low Tet bonuses were foreseeable. But workers see signs of recovery in the Year of the Dragon.
China was the only market that witnessed positive growth in Vietnam’s farm exports in 2023, while negative growth rates were reported for all other key markets.
Seven Vietnamese firms have won a bid to export 300,000 tons of rice to Indonesia, or more than half the volume that country’s plans to import in January.
Vietnam earned 5.14 billion USD from agro-forestry-aquatic exports in January, a year-on-year surge of 79.2%, the Ministry of Agriculture and Rural Development reported.
The recent move by the European Union to increase official controls on several farm products from Việt Nam has notified producers and exporters of the importance of fully complying with the regulations of the import markets and improving competitiveness to make exports sustainable.
Vietnam is the second largest exporter of footwear in the world, with its estimated export volume accounting for 10% of the world’s market share.
Việt Nam trade offices abroad need to provide information about market trends in countries and export opportunities to Việt Nam’s localities, associations and businesses, so they can review production and business plans, and create appropriate trade promotion plans.
Given its large population, diverse demand for goods and services, not too strict import standards, and production complementarities, the Philippines is a high potential market for Vietnamese exports, said the Trade Office of Vietnam in the archipelago nation.
Enterprises exporting to Saudi Arabia must be aware that the Saudi Food and Drug Authority (SFDA) only accepts Halal certification from the list of their verified and recognised bodies, the Import-Export Department under the Ministry of Industry and Trade has warned.
Vietnam has recorded tangible changes in agro-forestry-fishery exports thanks to preferential tariffs in trade with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) after five years the trade pact took effect.
Việt Nam expects its agricultural export value to China to increase sharply this year, as China agrees to review regulations permitting official exports of poultry meat from Việt Nam to this market.
Vietnam recorded total trade revenue of $29.78 billion in the first half of January, a year-on-year increase of 5.4 per cent, figures from the General Statistics Office (GSO) reveal.
Besides the Chinese, consumers from other countries have begun buying more durian. It is estimated that durian exports could bring $3.5 billion to Vietnam in 2024.
A total of 56 Vietnamese enterprises showcased their products at Ambiente 2024 - a leading exhibition fair on consumer goods and gifts in the world that is underway from January 27-30 in Frankfurt, Germany.
Digital economy, circular economy and green growth have been opted by many countries, meaning businesses should be prepared for new trends to raise their competitiveness and boost sustainable exports.
By leveraging global media outlets, Vietnamese businesses could effectively communicate their values, innovation and quality to a wider audience.
The country is about to sign a protocol for avocado and passion fruit exports with the General Administration of Customs of China, bringing the total agricultural products exported to the Chinese market in this form to 8, according to the Ministry of Agriculture and Rural Development.
A source from southern food maker Vissan JSC revealed that the company has purchased food stock valued at $22.7 million to feed consumers during the Lunar New Year festivities, including nearly 1,100 tonnes of fresh food and 3,800 tonnes of processed food, similar to the volume sold last year.
The unpredictable global situation may affect fuel supply during the holiday period.