Connect with us

Business

Vietnam’s agro-forestry-fishery exports hit record high

Published

on

Vietnam raked in US$49 billion in export revenue from agro-forestry-fishery products between January and November of this year, exceeding the previous record of $48.6 billion set in 2021, according to the Ministry of Agriculture and Rural Development.

The ministry on Wednesday shared that Vietnam exported over $4.27 billion worth of agro-forestry-fishery products in November alone, down nearly five percent year on year.

During the same period, the country’s seafood export turnover hit $10.14 billion for the first time ever.

The Vietnam Association of Seafood Exporters and Producers (VASEP) will hold a ceremony to celebrate the milestone on December 10.

From January to November, there were eight commodities with export turnovers that surpassed $2 billion, including coffee ($3.5 billion, up 31.5 percent), rubber ($2.9 billion, up 3.2 percent), rice ($3.2 billion, up 6.9 percent), tra fish ($2.2 billion, up 61 percent), shrimp ($4.1 billion, up 14.6 percent), and wood and wooden products ($14.6 billion, up 9 percent).

Asian countries remained the largest importers of Vietnam’s agro-forestry-fishery products with nearly 45 percent of the market share, followed by America with 27 percent, and Europe with 11 percent.

As for importing countries, the U.S. took the lead with $12.3 billion.

China came in second with some $9.3 billion, followed by Japan with $3.9 billion, and South Korea with $2.3 billion. 

According to the Ministry of Agriculture and Rural Development, Vietnam, China’s unwillingness to end its zero-COVID policy will create a challenging future for Vietnamese farm produce for the foreseeable future. 

Moreover, due to the depreciation of China’s renminbi and Thailand’s baht over the Vietnam dong and U.S. dollar, China will likely increase imports from Thailand and reduce imports from Vietnam.

Meanwhile, Vietnam’s exports of wood pellets to the European Union (EU) remain low due to Europe’s strict origin traceability requirements.

The EU’s requirements for wood pellet imports are more stringent than those of Japan and South Korea, which is a significant challenge that will require Vietnamese exporters to improve their equipment and technology.

The Ministry of Agriculture and Rural Development will continue popularizing a protocol on the official export of Vietnamese durians to China, requirements for passion fruit exports to China, and requirements for pomelo exports to the U.S.

The ministry will also accelerate negotiations over a protocol on phytosanitary requirements for dragon fruit, longan, litchi, rambutan, and mango exports to China. 

It will also work with the General Administration of Customs of China to launch weekly online inspections into banana and durian batches shipped from Vietnam to its northern neighbor.

In addition, it will seek ways to remove technical and trade hindrances and pave the way for the export of Vietnamese products to other large and potential markets, such as Japan, South Korea, Myanmar, Australia, and New Zealand via official channels.

Specialized agencies will work with Japanese phytosanitary inspectors who come to Vietnam to check local dragon fruit, mango, and longan processing units in order to boost the export of these products.

The government assigned the Ministry of Agriculture and Rural Development an agro-forestry-fishery export revenue target of $50 billion this year.

If the export growth momentum is maintained in the last month of the year, the country’s agro-forestry-fishery exports this year will likely reach $53 billion.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vietnam raked in US$49 billion in export revenue from agro-forestry-fishery products between January and November of this year, exceeding the previous record of $48.6 billion set in 2021, according to the Ministry of Agriculture and Rural Development.

The ministry on Wednesday shared that Vietnam exported over $4.27 billion worth of agro-forestry-fishery products in November alone, down nearly five percent year on year.

During the same period, the country’s seafood export turnover hit $10.14 billion for the first time ever.

The Vietnam Association of Seafood Exporters and Producers (VASEP) will hold a ceremony to celebrate the milestone on December 10.

From January to November, there were eight commodities with export turnovers that surpassed $2 billion, including coffee ($3.5 billion, up 31.5 percent), rubber ($2.9 billion, up 3.2 percent), rice ($3.2 billion, up 6.9 percent), tra fish ($2.2 billion, up 61 percent), shrimp ($4.1 billion, up 14.6 percent), and wood and wooden products ($14.6 billion, up 9 percent).

Asian countries remained the largest importers of Vietnam’s agro-forestry-fishery products with nearly 45 percent of the market share, followed by America with 27 percent, and Europe with 11 percent.

As for importing countries, the U.S. took the lead with $12.3 billion.

China came in second with some $9.3 billion, followed by Japan with $3.9 billion, and South Korea with $2.3 billion. 

According to the Ministry of Agriculture and Rural Development, Vietnam, China’s unwillingness to end its zero-COVID policy will create a challenging future for Vietnamese farm produce for the foreseeable future. 

Moreover, due to the depreciation of China’s renminbi and Thailand’s baht over the Vietnam dong and U.S. dollar, China will likely increase imports from Thailand and reduce imports from Vietnam.

Meanwhile, Vietnam’s exports of wood pellets to the European Union (EU) remain low due to Europe’s strict origin traceability requirements.

The EU’s requirements for wood pellet imports are more stringent than those of Japan and South Korea, which is a significant challenge that will require Vietnamese exporters to improve their equipment and technology.

The Ministry of Agriculture and Rural Development will continue popularizing a protocol on the official export of Vietnamese durians to China, requirements for passion fruit exports to China, and requirements for pomelo exports to the U.S.

The ministry will also accelerate negotiations over a protocol on phytosanitary requirements for dragon fruit, longan, litchi, rambutan, and mango exports to China. 

It will also work with the General Administration of Customs of China to launch weekly online inspections into banana and durian batches shipped from Vietnam to its northern neighbor.

In addition, it will seek ways to remove technical and trade hindrances and pave the way for the export of Vietnamese products to other large and potential markets, such as Japan, South Korea, Myanmar, Australia, and New Zealand via official channels.

Specialized agencies will work with Japanese phytosanitary inspectors who come to Vietnam to check local dragon fruit, mango, and longan processing units in order to boost the export of these products.

The government assigned the Ministry of Agriculture and Rural Development an agro-forestry-fishery export revenue target of $50 billion this year.

If the export growth momentum is maintained in the last month of the year, the country’s agro-forestry-fishery exports this year will likely reach $53 billion.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20221203/vietnams-agroforestryfishery-exports-hit-record-high/70274.html

Business

Vietnam Real Estate Credit Soars to $109 Billion in 2022

Vietnam’s real estate sector saw a surge in credit in 2022, with outstanding loans reaching 2.58 million billion VND, equivalent to $109 billion, up 24.27% from the end of 2021.

Published

on

The State Bank of Vietnam hosted a Real Estate Credit Conference on February 8th, in Hanoi, where the news was announced.

This sector saw the fastest growth, accounting for 21.2% of total outstanding loans to the economy, the highest in the past five years.

Outstanding loans for real estate business increased by 11.5%, while consumer/self-use credit balance increased by 31.1%. Housing needs accounted for 62.19% of outstanding loans, while land use rights accounted for 20.66%.

The State Bank is committed to ensuring safe and effective growth in the real estate sector, controlling credit risk and promoting stability. 

It will continue to operate monetary policy firmly and flexibly, creating favorable conditions for the real estate sector to grow and develop. 

The legal framework on credit and banking activities will also be improved to increase access to credit for people and businesses, including the real estate sector.

Credit institutions will be directed to focus on feasible projects with good sales ability and to minimize operating costs and administrative procedures. 

The State Bank will control credit risk for the high-end real estate segment, which has excess supply, and control credit concentration to ensure operational safety of the bank.

Overall, the State Bank of Vietnam is dedicated to supporting the growth and stability of the real estate sector, contributing to macroeconomic stability and supporting economic growth.

Source: ZingNews

Source: https://e.nhipcaudautu.vn/real-estate/vietnam-real-estate-credit-soars-to-109-billion-in-2022-3350491/

Continue Reading

Business

Vietnam Airlines to reopen more air routes to China

Published

on

Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230208/vietnam-airlines-to-reopen-more-air-routes-to-china/71400.html

Continue Reading

Business

Vietnam Airlines performs worst among local airlines in on-time ratings: report

Published

on

National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230207/vietnam-airlines-performs-worst-among-local-airlines-in-ontime-ratings-report/71379.html

Continue Reading

Trending