Hai Duong (VNA) – A lychee tree in northern Hai Duong province has recently broken the record to become the oldest of its species in Vietnam. Dating back almost 200 years ago, the tree was planted in Thuy Lam town, Thanh Son commune, Thanh Ha district. Explaining the origin of the plant, ancient documents said Hoang Van Com, a local villager, brought home three lychee seeds from a fest he attended in neighbouring Hai Phong province, and planted them in his garden. All the seeds grew healthily, and one of them, which is now the oldest lychee tree in the country – turned out to produce delicious fruit. Com decided…
Automobile sales soar by 60 percent in July
As man as 20,349 automobiles were sold in July, an increase of 9 percent from June and 61 percent compared to the same period last year, the Vietnam Automobile Manufacturers’ Association (VAMA) revealed in its July sales report on August 6. The figure includes 11,647 passenger cars and 7,862 commercial vehicles, up by 19.2 percent and 0.4 percent, respectively, since June, while only 840 special-purpose vehicles were sold last month, down by 22.4 percent. The volume of Complete Knock Down (CKD) vehicles rose by 4 percent monthly to 15,013 units in July and the volume of Complete Built Up (CBU) vehicles totalled 5,336 units, up by 26 percent. Among VAMA…
Rice export exceeds 2.8 million tonnes
Vietnam earned almost 1.2 billion USD from shipping more than 2.8 million tonnes of rice to foreign markets since the outset of this year, according to the Vietnam Food Association (VFA). The VFA also said that the domestic prices remain stable, ensuring profits for farmers. Mekong Delta provinces are currently planting summer-autumn crops across 1.7 million hectares and harvesting 3.54 million tonnes of rice in 650,000 hectares, favourable conditions for enterprises to collect material rice for export at the end of 2015. In 2014, Vietnam exported 6.32 million tonnes of rice, earning 2.84 billion USD and becoming the third largest rice exporter in the world after Thailand and India, according…
Vietnam’s trade deficit reaches 3.96 billion USD
Vietnam recorded a trade deficit of 936 million USD in the first half of July, bringing the total number since the beginning of this year to 3.96 billion USD. Statistics released by the General Department of Customs show that, in the reviewed period, total export-import revenues were valued at 13.38 billion USD, a 7.2 percent drop compared to the second half of June. Exports brought home nearly 6.22 billion USD, a decline of 16.1 percent, while imports were valued value at 7.16 billion USD, up by 2.3 percent. The increase in import value mainly stemmed from rising imports in a number of products, including crude oil (up 48 million USD),…
Garment exports to US likely to hit 11 billion USD
Textile and garment exports to the US is likely to reach 11 billion USD this year, said Dang Phuong Dung, Vice Chairwoman of the Vietnam Garment and Apparel Association. The figure may double after the signing of the Trans-Pacific Partnership (TPP) agreement, which will benefit businesses with tariff cuts for imports, she added. Vietnam’s garment and textile products normally are levied import duties of 15-16 percent. However, the taxes will be cut down to 7-8 percent after the country joins the TPP and the products meet the requirements of origin. Currently, the US is the biggest importer of Vietnamese garment and textile products, consuming about half of the total exports.…
Trade deficit recorded during first five months of 2015
Vietnam recorded a trade deficit of more than 3 billion USD, despite an increase in exports, in the first five months of 2015, according to the most recent statistics released by the Vietnam Customs agency. In the period, total exports were valued at 63.45 billion USD, a 7.7 percent increase, equivalent to 4.55 billion USD, on a yearly basis. In terms of imports, the total value reached 66.5 billion USD, up by 16.4 percent or 9.36 billion USD. As a result, there was a 3.05 billion USD deficit in trade in the first five months of 2015. Total import –export turnover for the period reached 129.94 billion USD, up 12…
Vietnamese lychee meets Canadian standards
High-quality Vietnamese lychee meets the standards of the Canadian market, according to a Canadian importer. Rex Yu from Manley Sales Company, who imported the first batch of Vietnamese lychee on June 10, told Vietnamese News Agency correspondents that Vietnamese lychees meet quality requirements of the Canadian Food Investigation Agency (CFIA). He expressed his hope that Vietnamese lychee would secure a share in the Canadian market as Vietnamese fresh dragon fruits and longan have, both of which are currently imported by his company. The company plans to distribute Vietnamese lychee across the country, from British Columbia on the west coast to Quebec on the east coast, within a week. The Vietnamese…
The free trade agreement between Vietnam and the Eurasia Economic Union (EAEU) was signed in Burabai,
Kazakhstan on May 29 after more than two years of negotiation, opening up a new chapter in the partnership between Vietnam and the union as well as each EAEU member in particular. The deal was inked by Prime Minister Nguyen Tan Dung and leaders from EAEU members – Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan – as well as the Chairman of the Board of the Eurasia Economic Commission. Launched in Vietnam on March 28, 2013, the comprehensive and highly-committed agreement regulates issues related to goods trading, origin principle, trade remedies, investment, intellectual property, legality and institution, among others. Once it becomes effective, two-way trade between Vietnam and the EAEU is…
Trade sees $1.87b deficit in first half of May
HA NOI (VNS) — Viet Nam exported US$6.32 billion worth of commodities in the first half of May, a decrease of 9.5 per cent compared over the previous fortnight, the General Department of Customs reported. Meanwhile, the country’s imported goods were worth $8.19 billion, an increase of 34.7 per cent compared to the second half of April. This meant the country’s trade deficit was $1.87 billion for the first two weeks of May. This compares to a trade deficit of $3.7 billion from the beginning of the year. The total export turnover from the beginning of this year to May 15 totalled $56.09 billion, while import turnover was $59.78 billion.…
Vietnam participates in Foodex Japan 2015
Seventeen Vietnamese businesses processing and exporting agriculture and aquaculture products are participating in the 40th International Food and Beverage Exhibition in Japan (Foodex Japan 2015), which opened on March 3. Their products, including rice, fruits, fish sauce, cakes and beverages, are displayed across 126 square metres at the Makuhari Messe International Convention Complex in Chiba Prefecture. Vietnamese Ambassador to Japan Doan Xuan Hung hailed the preparation of Vietnamese enterprises for the occasion, saying that many Japanese investors showed interests in the featured products. Foodex Japan is the largest international food and beverages exhibition in the Asia-Pacific region. It represents a valuable opportunity for Vietnamese businesses in the sector to seek…