The first batch of red flesh dragon fruits from Vietnam’s Vinh Phuc province was exported Australia. According to the Vietnam Trade Office in Australia, this is the first time Vietnamese red flesh dragon fruits have been exported to the Aussie market. Australia is a choosy but promising market for Vietnamese farm produce. Exporters are advised to follow Australia’s quarantine regulations on cultivation areas, packaging, irradiation and pesticide residues right in Vietnam. The export to Australia is expected to open up a chance for Vietnam to ship the fruit to the US and Europe. It took Vietnam nine years to negotiate and complete all the necessary procedures to export dragon fruit to Australia. Vinh Phuc’s red fresh dragon fruits have been shipped to Japan and Malaysia.-VNA … [Read more...] about Vinh Phuc exports first batch of red flesh dragon fruits to Australia
Vietnam’s Tra fish export sees competitors
Vietnam’s Tra fish export value is expected to reach a record 2 billion USD this year. Over the past 20 years, Vietnam has been the only tra fish exporter. However, many other nations are producing tra fish, including Vietnam’s major import markets. Vinh Hoan JS company is one of the country’s biggest tra fish processors for export. The company said good tra fish prices have provided farmers with a good income. Tra fish farmers can manage well the risks in farming, therefore, they can sell their products at the best prices. Vietnam has been the only country in the world that produces, processes and exports tra fish. The US, China and ASEAN are the main markets. However, many markets, seeing the potential, start making investment in the field. Currently, Vietnam produces 1.3 million tonnes, whereas India produces 650,000 tonnes, Bangladesh 450,000 tonnes, and Indonesia, 110,000 tonnes. China, Vietnam’s biggest importer, is also farming tra fish. … [Read more...] about Vietnam’s Tra fish export sees competitors
Japanese businesses appreciate Vietnamese workers
Vietnamese workers are becoming an important source of workforce in Japan. Especially, young Vietnamese workers are said to be diligent and eager for learning. It’s hard to believe that the labourers conducting the works are foreign workers, with most of them being Vietnamese. They are recruited by Japanese companies after graduating from leading Vietnamese universities. Difficult working conditions make architecture and construction less attractive to workers in Japan. However, the difficulties cannot discourage Vietnamese workers. Japan is offering visa incentives for Vietnamese workers, helping them stay longer and enjoy higher salary. For apprentices, policy makers are considering new policies to create conditions for them to have stable jobs. Regarding part-time jobs, Vietnamese students are said to play an important role in offsetting labour shortage in the service sector. Vietnamese workers form the largest group of foreign workers at Ten Allied, which engages in … [Read more...] about Japanese businesses appreciate Vietnamese workers
Environmental tax hike to add US$673 million to Vietnam’s public revenue
The Hanoitimes - Viet Dragon Securities Corporation (VDSC) estimated that Vietnam`s headline inflation will rise by 4.1-4.2% year-on-year in 2018. The environmental protection tax (EPT)'s upward adjustment is estimated to add VND15.7 trillion (US$673 million) to public revenue every year, equivalent to 1.5% of total revenue from taxes and fees, stated a report by VDSC. On September 20, the National Assembly's Standing Committee passed a resolution which raises the environmental protection tax on fuels and takes effect from January 1, 2019. Accordingly, each liter of gasoline will be subject to an environment protection tax of VND4,000 (US$0.17), up from the current VND3,000 (US$0.13), and kerosene to VND1,000 (US$0.043), up from the current VND300 (US$0.013). The tax on heavy fuel oil and lubricants moves to VND2,000 (US$0.086) per liter, up from the current VND900 (US$0.039). The resolution was delayed in July due to inflation concerns, stated VDSC, while … [Read more...] about Environmental tax hike to add US$673 million to Vietnam’s public revenue
Investors keen on local market
Mr. Hironobu Kitagawa, Chief Representative of the Japan External Trade Organization (JETRO), Hanoi Representative Office, tells VET about Japanese investment in Vietnam. ■ How has Japanese investment to Vietnam been in recent times? Japanese investment in Vietnam continues to increase. The total number of newly-registered and expanded projects is 601 with total investment capital of $8.7 billion. Japan became the largest investor in Vietnam in 2017, in terms of both project numbers and capital. The total number of newly-registered and expanded projects in the beginning of 2018 was 293, a 4.6 per cent increase year-on-year. Total registered capital was $6.1 billion, up 25.9 per cent year-on-year, due to a large amount of capital for a smart city development project in Hanoi. ■ What sectors do Japanese investors invest in the most in Vietnam? Vietnam has been attracting Japanese enterprises in recent years because it is not only a strong manufacturing location, … [Read more...] about Investors keen on local market