Vietnam buys Indian rice for first time in decades: industry officials

The purchases highlight tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India, the world’s biggest exporter of the grain. Indian traders have been contracted to export 70,000 tonnes of 100 percent broken rice for January and February shipments […]

Vietnam strives to be world leader in seafood production and exports

A report compiled on the implementation of the strategy has recently been sent by the Ministry of Agriculture and Rural Development (MARD) to Prime Minister Nguyen Xuan Phuc for consideration and subsequent approval. Deputy Minister of Agriculture and Rural Development Phung Duc Tien emphasised that the issuance of the Vietnam Fisheries Development Strategy to 2030, […]

Trade turnover with Egypt set to reach US$1 billion over five-year period

Nguyen Duy Hung, head of the Vietnam Trade Office in Egypt, made the statement during a recent interview with a VOV correspondent based in Egypt, in which he mentioned challenges and ways to promote exports to the Middle East and African markets. This is a particular challenge in the context of the novel coronavirus (COVID-19) […]

Rice export price hits new record high

The price of Vietnamese 5% broken rice in the global market increased by approximately US$7 to a high of US$505 per tonne. The latest rise can be attributed to a limited supply and an increasing demand for rice reserves in many countries, especially the Philippines, largely due to complicated developments of the COVID-19 pandemic globally. […]

Vietnam rates hit 9-yr peak on supply crunch; Thai rates dip

Vietnam’s 5 percent broken rice RI-VNBKN5-P1 prices edged up to $500-$505 per tonne on Thursday – the highest since December 2011 – from $500 a week ago, on thin domestic supplies. Buyers from the Philippines are still purchasing, but with small volumes, a trader in Ho Chi Minh City said, adding that “trading activity has […]

Vietnam targets 6.5 pct GDP growth next year

“As of now we can confirm that Vietnam have succeeded in both containing the Covid-19 pandemic and maintaining growth,” Prime Minister Nguyen Xuan Phuc said at an online meeting with municipal leaders on Monday. Although Vietnam’s GDP growth dropped to 2.91 percent this year, the lowest in 10 years (2011-2020) the economy is still among […]

IMF: Vietnamese economy to see full recovery in 2021

Elsewhere in the region, it is anticipated that Singapore, the Philippines, and Thailand will all see their economies struggle to fully recover. Business website Nikkei compiled the IMF’s country-based projections in order to calculate real gross domestic product, setting 2019’s figures as a baseline of 100. In line with this, Vietnam, Indonesia, and Malaysia all […]

Vietnam in top five markets globally for cost efficiency

The US, New Zealand and Canada are the most attractive countries for employer investment based on 200 factors that evaluated skills availability, cost efficiency, regulation and productivity. The annual TWI report combined Big Data with expert analysis to identify the workforce engagement potential of 76 markets. New Zealand, Hong Kong (China), Singapore, Japan and the […]

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