Connect with us

Business

VN medicinal herbs have potential to expand in Japan

Published

on

Việt Nam needs to focus on developing the production chain for medicinal herbs with deep processing to increase added value. — Photo vietnamnet.vn

HÀ NỘI — There is a large potential to increase the export of medicinal herbs to Japan while several Japanese pharmaceutical companies are eyeing up herbs from Việt Nam, according to the Việt Nam Trade Office in Japan.

The trade office pointed out that Japan imported several medicinal herbs from Việt Nam, such as hemp, black garlic, black pepper, anise, cinnamon, ginger, turmeric and sesame seed, citing statistics from Japanese customs that Việt Nam exported medicinal herbs worth about US$8.6 million to Japan in 2021.  

However, Việt Nam held a modest market share of medicinal herbs in Japan, just around 1.1 per cent of Japan’s total medicinal herb imports.

This provided significant opportunities for Việt Nam to expand the export of medicinal herbs to Japan – the second-largest importer of medicinal herbs in the worth.

Việt Nam’s Trade Counselor in Japan, Tạ Đức Minh, told Việt Nam News Agency that Việt Nam has an abundant supply of medicinal herbs with more than 5,100 species of plants with medicinal use. However, Việt Nam’s export of medicinal herbs remained modest compared to its potential.

The good news was that some Japanese pharmaceutical companies are interested in buying medicinal herbs from Việt Nam, Minh said.

Nguyễn Văn Giáp, director of Hasu No Hana Joint Stock Company which was the distributor of some Japanese pharmaceutical companies such as JPS Pharmaceutical and Nikko Pharmaceutical in Việt Nam, said that Japan’s demand for importing raw medicinal materials was very high. At the same time, the potential supply from Việt Nam was abundant.

Giáp said that his company was finding ways to promote exporting Vietnamese raw medicinal materials to Japan.

According to Minh, China held a dominant market share of medicinal herbs in Japan. However, this did not mean there was no room for Việt Nam to expand the export of medicinal herbs to the market.

Makoto Tamura, director of the Tochigi Plant of JPS, was quoted by Việt Nam News Agency as saying that the company planned to expand sources of import from other countries, including Việt Nam.

As Japan has strict requirements for medicinal herbs, Vietnamese producers and exporters need to pay attention to all production stages to ensure quality, from plantation area planning to processing and preservation, according to the director.

The problem is that the plantation of medicinal plants remained scattered. The development programme for the pharmaceutical industry and domestically produced herbal ingredients until 2030 set the goal of building eight areas for sustainable exploitation of natural medicinal herbs and two to five large-scale plantation areas.

Minh said Việt Nam needed to focus on developing the production chain with deep processing to increase efficiency.

He added that policies were necessary to attract large enterprises to pour investment into building large-scale pharmaceutical production and processing centres.

Attention must be paid to developing plantation areas to ensure the quality of medicinal herbs. Traceability is also of considerable importance. —

Source: https://vietnamnews.vn/economy/1252222/vn-medicinal-herbs-have-potential-to-expand-in-japan.html

Business

Vietnam’s 2022 economic growth projected at 7%

Vietnam’s GDP is likely to expand by around 7 percent in 2022, much higher than 2.58 percent growth of 2021.

Published

on

Minister of Planning and Investment Nguyen Chi Dung made the above statement at the Cabinet meeting in Hanoi on July 4.

With this scenario, the economy needs to expand 9 percent in the third quarter and 6.3 percent in the last quarter this year, the minister said.

In the first half, the Southeast Asian country’s GDP accelerated to 6.42 percent growth compared to the optimistic scenario of 5,1-5,7 percent as figured out in the Government’s Resolution No. 01/NQ-CP, dated January 01, 2021 on major tasks and solutions for implementation of socio – economic development plan and state budget estimate for 2022. 

Especially, the GDP grew 7.72 percent in the second quarter, which is the fastest growth pace for April-June period since 2011.

Earlier, the World Bank predicted Vietnam’s 2022 GDP growth at 5.5 percent if the COVID-19 pandemic is controlled.

The projection is lower than the Vietnamese Government’s predictions at 6.5-7 percent, HSBC at 6.5 percent and Standard Chartered at 6.7 percent.

Source: https://e.nhipcaudautu.vn/economy/vietnams-2022-economic-growth-projected-at-7-3346528/

Continue Reading

Business

Dragon Capital buys 2.1 million shares of Sacombank

Asset management company Dragon Capital has bought 2.1 million shares of HCMC-based Sacombank, increasing its stake in the bank to 6.09 percent.

Published

on

On June 29, two affiliated funds, CTBC Vietnam Equity Fund and Norges Bank, bought 2.3 million shares of the lender while a third, Samsung Vietnam Securities Master Investment Trust, sold 200,000 shares.

The value of the deal is estimated at VND47.5 billion (US$2.03 million) based on the share’s closing price last Wednesday.

Funds under Dragon Capital own 114.8 million shares or a 6.09 percent stake in the bank.

In March, Dragon Capital had raised its stake from 4.98 percent to 5.05 percent, after its largest fund, Vietnam Enterprise Investment Limited, bought 1.25 million shares.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/dragon-capital-buys-21-million-shares-of-sacombank-3346515/

Continue Reading

Business

Vietnam targets 7% GDP growth this year: minister

Published

on

HANOI — Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously.

To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung also said during a government meeting.

Dung said Vietnam’s budget was in surplus, giving scope for fiscal policy to be used to support businesses and residents.

“Credit institutions will need to further cut their lending interest rates to reduce input cost pressure for businesses and for the economy,” he said.

Vietnam, a regional manufacturing hub, started lifting its coronavirus curbs late last year, allowing factories to resume full operations.

The economy is recovering after growing only 2.58% last year, the slowest pace in decades.

The Southeast Asian country reported GDP growth of 7.72% in the second quarter, backed by strong export growth, but warned of upward inflation pressure for the rest of the year. 

Source: https://tuoitrenews.vn/news/business/20220704/vietnam-targets-7-gdp-growth-this-year-minister/67932.html

Continue Reading

Trending