Prime Minister Nguyen Tan Dung has asked the Republic of Korea (RoK) to expand its official development assistance (ODA) to Vietnam.
Talking with the host President, Lee Myung-bak in Seoul on May 30, PM Dung also suggested the RoK facilitate Vietnam ’s exports in order to gradually change the bilateral trade unbalance.
PM Dung affirmed that Vietnam sees the RoK as one of the top important partners, saying he hopes the two countries would together exert efforts to make their cooperation in politics, economy, diplomacy, national security and defence as well as culture, education and environmental protection deeper, more stable and effective towards a strategic partnership.
President Lee Myung-bak said the RoK has attached importance to developing the cooperation with Vietnam . He praised the results of the May 29 talks between PM Dung and his RoK counterpart Han Seung-soo, particularly their agreement on principle to bring the Vietnam-RoK relationship to the “Strategic Partnership” for peace, stability and development in the region and the world.
Regarding the situation on the Korean Peninsula , PM Dung said Vietnam always wishes for peace and stability on the peninsula and the country’s consistent policy is to support the denuclearisation of the Korean Peninisula, protest nuclear tests and nuclear weapon proliferation. He said Vietnam supports a process to deal with the nuclear issues through peaceful dialogues and negotiations.
PM Dung conveyed President Nguyen Minh Triet’s invitation for a Vietnam official visit to President Lee Myung-bak.(Banking - Finance)
Sunday, May 31, 2009
Vietnam joins Algiers international trade fair
Vietnamese handicraft products are being showcased at the 42nd international trade fair, which opened Algiers on May 30.
The six-day trade fair, themed “a suitable time for the emerging of a competitive economy” attracted the participation of 1,300 businesses from 40 countries and territories around the world. It is expected to draw about 500,000 visitors.
The same day, an exhibition was held to promote the export products of Algiers, with the aim of expanding its market beyond its traditional products of oil and gas.
On the occasion, many international experts attended a number of seminars on banking, insurance and taxation, aimed at promoting trade exchange among partners. (Business)
The six-day trade fair, themed “a suitable time for the emerging of a competitive economy” attracted the participation of 1,300 businesses from 40 countries and territories around the world. It is expected to draw about 500,000 visitors.
The same day, an exhibition was held to promote the export products of Algiers, with the aim of expanding its market beyond its traditional products of oil and gas.
On the occasion, many international experts attended a number of seminars on banking, insurance and taxation, aimed at promoting trade exchange among partners. (Business)
Vietnam excels in investment opportunities, say US experts
Investment opportunities in Vietnam are still tremendous despite the global economic slowdown, said US executives during talks on business opportunities in Vietnam in Washington on May 28.
They also agreed that Vietnam is still a promising place for those who find the right partners to invest in.
The Vietnamese Ambassador to the US, Le Cong Phung, spoke of the economic achievements that Vietnam has made during the renewal process as well as the growing relationship between Vietnam and the US in political, economic, commercial, educational and many other fields.
The diplomat added that the Vietnamese Government attaches a lot of importance to protecting the environment while developing the economy. “Vietnam is open to every investor in the world, including the US," he added.
Taking part in the forum, were senior officials from US businesses, governmental agencies, science institutions and financial circles, who discussed Vietnam 's energy and environmental needs, lessons the country has learnt from previous investments and opportunities for setting up partnerships.
Michael F. Violette, President of Washington Laboratories Ltd., said: "We are interested in helping Vietnam to address its environmental issues as it develops its economy. Balancing economic development with the need of environment protection is a big challenge."
They focused on how the US and Vietnam could work together to solve problems relating to the quality of water, the infrastructure of clean water supplies and waste management, problems that the Vietnamese Government needs to deal with.
Al Goodman, Principal of Camp Dresser & McKee Inc, which has invested in an US$80-million project to build a water treatment system and a clean water distribution network to serve the Ho Chi Minh City area, said: " Vietnam is little behind in terms of environmental protection but is catching up rapidly, using new technologies, as the government has desire to improve the environment. The private sector also has a role to play in this process. If all the public and private sector get together, I think the standard of the environment will improve very quickly."
The talks were organised by the Maryland-Asia Environmental Partnership in cooperation with the Asia Society and the US State Department's APEC office. (VOV)
They also agreed that Vietnam is still a promising place for those who find the right partners to invest in.
The Vietnamese Ambassador to the US, Le Cong Phung, spoke of the economic achievements that Vietnam has made during the renewal process as well as the growing relationship between Vietnam and the US in political, economic, commercial, educational and many other fields.
The diplomat added that the Vietnamese Government attaches a lot of importance to protecting the environment while developing the economy. “Vietnam is open to every investor in the world, including the US," he added.
Taking part in the forum, were senior officials from US businesses, governmental agencies, science institutions and financial circles, who discussed Vietnam 's energy and environmental needs, lessons the country has learnt from previous investments and opportunities for setting up partnerships.
Michael F. Violette, President of Washington Laboratories Ltd., said: "We are interested in helping Vietnam to address its environmental issues as it develops its economy. Balancing economic development with the need of environment protection is a big challenge."
They focused on how the US and Vietnam could work together to solve problems relating to the quality of water, the infrastructure of clean water supplies and waste management, problems that the Vietnamese Government needs to deal with.
Al Goodman, Principal of Camp Dresser & McKee Inc, which has invested in an US$80-million project to build a water treatment system and a clean water distribution network to serve the Ho Chi Minh City area, said: " Vietnam is little behind in terms of environmental protection but is catching up rapidly, using new technologies, as the government has desire to improve the environment. The private sector also has a role to play in this process. If all the public and private sector get together, I think the standard of the environment will improve very quickly."
The talks were organised by the Maryland-Asia Environmental Partnership in cooperation with the Asia Society and the US State Department's APEC office. (VOV)
Japan highly values Vietnamese trainees’ skills
Japanese agencies and businesses highly value Vietnamese trainees for their skills, work ethic and abilities.
This assessment was made by a delegation from the Party’s Central Committee Office after visiting Japan to conduct a survey of Vietnamese workers, including trainees.
During the visit from May 26-29, the delegation, headed by Duong Thanh Bac, Deputy Director of the Party’s Central Committee Office, met with the Board of Management for Vietnamese Guest Workers in Japan, the Association for Development of International Manpower for Small and Medium Enterprises (IMM Japan) and several leading Japanese businesses such as Asama Piston Co. Ltd, the Maruoka Furniture Company and the Marine & Engineering Shipbuilding Company.
The Japanese business community, however, pointed to the poor Japanese language skill of the Vietnamese trainees and their limited ability to adapt to the Japanese cultural environment.
Bac expressed his thanks to the Japanese agencies and companies for the high-quality training they provided to the Vietnamese trainees as they will be able to serve the national industrialisation and modernization. He said he hoped that the Japanese Government would take more Vietnamese workers and help them to integrate into life in Japan.
Vietnam has so far sent 40,000 trainees to Japan since 1992 under a training and technical education programme. They have been trained at small and medium enterprises, mainly in garments and textiles, electronics, engineering, construction and fisheries, at an average salary of between Ú$700-1,000 per month.
As well as the programme, Vietnam has also sent people to study and work in Japan’s IT sector. So far, nearly 1,000 engineers and technicians have worked in the country. ( Business News)
This assessment was made by a delegation from the Party’s Central Committee Office after visiting Japan to conduct a survey of Vietnamese workers, including trainees.
During the visit from May 26-29, the delegation, headed by Duong Thanh Bac, Deputy Director of the Party’s Central Committee Office, met with the Board of Management for Vietnamese Guest Workers in Japan, the Association for Development of International Manpower for Small and Medium Enterprises (IMM Japan) and several leading Japanese businesses such as Asama Piston Co. Ltd, the Maruoka Furniture Company and the Marine & Engineering Shipbuilding Company.
The Japanese business community, however, pointed to the poor Japanese language skill of the Vietnamese trainees and their limited ability to adapt to the Japanese cultural environment.
Bac expressed his thanks to the Japanese agencies and companies for the high-quality training they provided to the Vietnamese trainees as they will be able to serve the national industrialisation and modernization. He said he hoped that the Japanese Government would take more Vietnamese workers and help them to integrate into life in Japan.
Vietnam has so far sent 40,000 trainees to Japan since 1992 under a training and technical education programme. They have been trained at small and medium enterprises, mainly in garments and textiles, electronics, engineering, construction and fisheries, at an average salary of between Ú$700-1,000 per month.
As well as the programme, Vietnam has also sent people to study and work in Japan’s IT sector. So far, nearly 1,000 engineers and technicians have worked in the country. ( Business News)
Gold jumps to new high
Gold prices in Vietnam soared to a new record of VND21.3 million a tael, or US$1000 an ounce, Saturday, as global prices rose to a three-month high in New York and London due to a weaker dollar.
Gold passed the VND21-million mark on Friday but volume remained low, with traders expecting prices to escalate further. Gold has already jumped 17 percent in Vietnam this year.
Precious metals typically move inversely to the US currency.
“Extreme dollar weakness is adding to the momentum,” Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said Friday in a note. “Ascending oil prices, concerns of inflation and fears of massive US debt have certainly been supporting” gold, he said.
Gold futures for August delivery jumped $17.10, or 1.8 percent, to $980.30 an ounce on the Comex, after touching $982 earlier, the highest for a most-active contract since Feb. 24. Gold gained 10 percent this month in New York, the most since November.
Spot gold gains
In London Friday, gold for immediate delivery advanced $16.24, or 1.7 percent, to $975.70, pushing it to a 9.9 percent rise for the month.
“North Korea’s nuclear test was a cause for concern on the geopolitical front,” said Ralph Preston, a commodity analyst at Heritage West Futures Inc. in San Diego. “It’s more than a coincidence that gold is moving towards its all time high this week.”
North Korea launched a sixth test missile this week. On May 25, the Asian nation exploded an atomic device underground and later said it would no longer abide by the agreement that ended the Korean War in 1953.
Gold may rise to $1,400 an ounce during the next year, said Stephen Platt, an Archer Financial Services Inc. commodity analyst in Chicago.
The metal rose to $975.50 in the Friday afternoon “fixing” in London, used by some mining companies to sell their output, from $957.75 Thursday. (TN)
Gold passed the VND21-million mark on Friday but volume remained low, with traders expecting prices to escalate further. Gold has already jumped 17 percent in Vietnam this year.
Precious metals typically move inversely to the US currency.
“Extreme dollar weakness is adding to the momentum,” Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said Friday in a note. “Ascending oil prices, concerns of inflation and fears of massive US debt have certainly been supporting” gold, he said.
Gold futures for August delivery jumped $17.10, or 1.8 percent, to $980.30 an ounce on the Comex, after touching $982 earlier, the highest for a most-active contract since Feb. 24. Gold gained 10 percent this month in New York, the most since November.
Spot gold gains
In London Friday, gold for immediate delivery advanced $16.24, or 1.7 percent, to $975.70, pushing it to a 9.9 percent rise for the month.
“North Korea’s nuclear test was a cause for concern on the geopolitical front,” said Ralph Preston, a commodity analyst at Heritage West Futures Inc. in San Diego. “It’s more than a coincidence that gold is moving towards its all time high this week.”
North Korea launched a sixth test missile this week. On May 25, the Asian nation exploded an atomic device underground and later said it would no longer abide by the agreement that ended the Korean War in 1953.
Gold may rise to $1,400 an ounce during the next year, said Stephen Platt, an Archer Financial Services Inc. commodity analyst in Chicago.
The metal rose to $975.50 in the Friday afternoon “fixing” in London, used by some mining companies to sell their output, from $957.75 Thursday. (TN)
Businesses respond to Tra Vinh call for investment
Local and foreign businesses signed agreements on 31 projects with Tra Vinh at an investment promotion conference held in the Mekong Delta province Saturday.
The provincial administration called for increased investment in infrastructure, energy, trading-services and tourism projects.
In particular, the province needs investment in projects to build infrastructure for the Long Duc and Duyen Hai industrial parks; the Co Chien industrial park area; the Dinh An economic zone; as well as projects to expand a canal and deep-water port, build a bridge and upgrade highways, the conference heard.
Deputy Prime Minister Nguyen Sinh Hung said at the conference that Tra Vinh was a poor province with great potential for development that will be further enhanced with a series of projects that the central government will implement in the near future.
Hung said he hoped enterprises who take part in the province’s projects will have policies to attract local workers. (Businesses)
The provincial administration called for increased investment in infrastructure, energy, trading-services and tourism projects.
In particular, the province needs investment in projects to build infrastructure for the Long Duc and Duyen Hai industrial parks; the Co Chien industrial park area; the Dinh An economic zone; as well as projects to expand a canal and deep-water port, build a bridge and upgrade highways, the conference heard.
Deputy Prime Minister Nguyen Sinh Hung said at the conference that Tra Vinh was a poor province with great potential for development that will be further enhanced with a series of projects that the central government will implement in the near future.
Hung said he hoped enterprises who take part in the province’s projects will have policies to attract local workers. (Businesses)
Major banks to cut dollar deposit rates to inhibit hoarding
Vietnam’s largest banks will lower their interest rates on dollar deposits to 1.5 percent in June from around 2 percent now in a move to help avoid dollar hoarding in domestic markets, the central bank said.
All state-run banks plus Vietcombank, Vietnam’s largest partly private lender, have also agreed to set the ceiling for dollar lending rates at 3%, the State Bank of Vietnam said in a statement seen on Saturday.
“The governor of the SBV is asking Vietnam Banks Association to seek consensus with other commercial banks to lower interest rates and (help) stabilize the forex market,” it said.
The new rates come into effect tomorrow.
The interbank 12-month dollar lending rates rose to 2.29 percent on Friday from 2.20 percent a week ago. This is still below the rate of 2.45 percent on April 29, according to Reuters data.
The central bank said its inspectors will also step up large-scale checks from next month to deal with corporate dollar hoarding, which has pushed the exchange rate beyond regulated levels and led to a dollar shortage for the past several months.
The Dow Jones newswire quoted Hanoi-based bankers as saying the SVB is implementing measures to make dollar holders sell greenbacks to banks, and encourage enterprises to borrow dollars instead of buying them.
Earlier this month the government asked authorities, including the police, to help regulate foreign exchange transactions as part of efforts to reduce dollarization in the economy and control dollar rates on the black market.
The central bank will accept the country’s recently issued dollar-denominated bonds as collateral in its dollar lending operations to help ease the tightness in dollar supply, bankers said on Friday.
The central bank said it would accept foreign currency denominated “valuable papers” as collateral for the first time, without elaborating.
Bankers said these papers would primarily include Vietnam’s US$230 million dollar bonds issued in March and they would be accepted in the central bank’s dollar lending operations.
“This will accommodate the supply of short-term funds to banks which suffer from liquidity shortfall,” the bank said in a statement seen on Friday.
Importers have been complaining they were unable to buy dollars at the official exchange rate due to dollar shortage at the banks.
“The new rule would create a new mechanism for the central bank to intervene to solve the dollar shortage issue but given the amount of domestic dollar bonds, it will not be much,” a banker in Ho Chi Minh City said.
The central bank said earlier this month that banks had plenty of dollars that they can lend but a shortage of dollars to sell as exporters preferred to keep their export earnings in the greenback on fear of a faster depreciation of the dong.
Vietnam devalued its dong currency twice last year and the currency remains under pressure because of general economic uncertainty, an expected turnaround in the trade balance to a deficit and the fact that the dong has weakened less than many of its peers recently.
The government estimated earlier this week that the trade deficit in May would widen to $1.5 billion from $1.18 billion in April.
But State Bank Governor Nguyen Van Giau said last week he saw no need to adjust the dong’s exchange rate against the dollar on the grounds that the dollar was depreciating against other major currencies.
The central bank allows interbank dollar/dong transactions to trade up to 5 percent on either side of the official reference rate. It set the rate at VND16,938 per dollar on Saturday. (TN)
All state-run banks plus Vietcombank, Vietnam’s largest partly private lender, have also agreed to set the ceiling for dollar lending rates at 3%, the State Bank of Vietnam said in a statement seen on Saturday.
“The governor of the SBV is asking Vietnam Banks Association to seek consensus with other commercial banks to lower interest rates and (help) stabilize the forex market,” it said.
The new rates come into effect tomorrow.
The interbank 12-month dollar lending rates rose to 2.29 percent on Friday from 2.20 percent a week ago. This is still below the rate of 2.45 percent on April 29, according to Reuters data.
The central bank said its inspectors will also step up large-scale checks from next month to deal with corporate dollar hoarding, which has pushed the exchange rate beyond regulated levels and led to a dollar shortage for the past several months.
The Dow Jones newswire quoted Hanoi-based bankers as saying the SVB is implementing measures to make dollar holders sell greenbacks to banks, and encourage enterprises to borrow dollars instead of buying them.
Earlier this month the government asked authorities, including the police, to help regulate foreign exchange transactions as part of efforts to reduce dollarization in the economy and control dollar rates on the black market.
The central bank will accept the country’s recently issued dollar-denominated bonds as collateral in its dollar lending operations to help ease the tightness in dollar supply, bankers said on Friday.
The central bank said it would accept foreign currency denominated “valuable papers” as collateral for the first time, without elaborating.
Bankers said these papers would primarily include Vietnam’s US$230 million dollar bonds issued in March and they would be accepted in the central bank’s dollar lending operations.
“This will accommodate the supply of short-term funds to banks which suffer from liquidity shortfall,” the bank said in a statement seen on Friday.
Importers have been complaining they were unable to buy dollars at the official exchange rate due to dollar shortage at the banks.
“The new rule would create a new mechanism for the central bank to intervene to solve the dollar shortage issue but given the amount of domestic dollar bonds, it will not be much,” a banker in Ho Chi Minh City said.
The central bank said earlier this month that banks had plenty of dollars that they can lend but a shortage of dollars to sell as exporters preferred to keep their export earnings in the greenback on fear of a faster depreciation of the dong.
Vietnam devalued its dong currency twice last year and the currency remains under pressure because of general economic uncertainty, an expected turnaround in the trade balance to a deficit and the fact that the dong has weakened less than many of its peers recently.
The government estimated earlier this week that the trade deficit in May would widen to $1.5 billion from $1.18 billion in April.
But State Bank Governor Nguyen Van Giau said last week he saw no need to adjust the dong’s exchange rate against the dollar on the grounds that the dollar was depreciating against other major currencies.
The central bank allows interbank dollar/dong transactions to trade up to 5 percent on either side of the official reference rate. It set the rate at VND16,938 per dollar on Saturday. (TN)
New Vietnam port heralds US service
The first deepwater container shipping terminal serving Vietnam's southern commercial hub has opened, allowing direct service to the United States to begin next week, a shipping firm said.
The APL Alexandrite on Friday became the first container vessel to call at the new Saigon Port-PSA facility on the Cai Mep River in Ba Ria-Vung Tau province, the global container shipping firm APL said in a statement.
The port is southeast of Ho Chi Minh City.
APL said the vessel "was undertaking a trial voyage ahead of the beginning on June 4 of the industry's first direct container shipping service linking Vietnam and the west coast of North America".
Another APL ship, the Denver, is to depart from the new port on Thursday for Seattle, the statement said.
"With this port, the first direct shipping service from Vietnam to North America is possible," Vietnam's deputy transport minister Tran Doan Tho was quoted as saying in the Vietnam News on Saturday.
The US and Vietnam fought a war in the 1960s and early 1970s but economic ties have been restored and grown since the US lifted a trade embargo in 1994 and diplomatic relations were normalised a year later.
The Washington-based US-ASEAN Business Council, which represents more than 100 US companies, said on a visit to Vietnam recently that the US is on track to become the leading foreign direct investor in Vietnam within three years.
APL is unit of Singapore-based Neptune Orient Lines, while the new port is a joint venture between Saigon Port, Vietnam National Shipping Lines and PSA Vietnam, a wholly-owned subsidiary of Singapore's port operator PSA International. (AFP)
The APL Alexandrite on Friday became the first container vessel to call at the new Saigon Port-PSA facility on the Cai Mep River in Ba Ria-Vung Tau province, the global container shipping firm APL said in a statement.
The port is southeast of Ho Chi Minh City.
APL said the vessel "was undertaking a trial voyage ahead of the beginning on June 4 of the industry's first direct container shipping service linking Vietnam and the west coast of North America".
Another APL ship, the Denver, is to depart from the new port on Thursday for Seattle, the statement said.
"With this port, the first direct shipping service from Vietnam to North America is possible," Vietnam's deputy transport minister Tran Doan Tho was quoted as saying in the Vietnam News on Saturday.
The US and Vietnam fought a war in the 1960s and early 1970s but economic ties have been restored and grown since the US lifted a trade embargo in 1994 and diplomatic relations were normalised a year later.
The Washington-based US-ASEAN Business Council, which represents more than 100 US companies, said on a visit to Vietnam recently that the US is on track to become the leading foreign direct investor in Vietnam within three years.
APL is unit of Singapore-based Neptune Orient Lines, while the new port is a joint venture between Saigon Port, Vietnam National Shipping Lines and PSA Vietnam, a wholly-owned subsidiary of Singapore's port operator PSA International. (AFP)
Saturday, February 28, 2009
Barclays enters Vietnam with VND12.5 billion support
British Barclays PLC has announced it will provide financial security worth VND12.5 billion through a partnership with CARE International to help disadvantaged young people in the Mekong Delta province of Long An.
This marks the first step taken by the banking corporation to enter the Vietnamese market where it is planning a long-term investment strategy.
The financial partnership between Barclays and CARE International, the world’s largest independent relief and development organization, will benefit around 10,000 young people in Long An, who are dealing with unemployment.
Barclays top executives told reporters in Hanoi on Tuesday during their Vietnam visit that through the financial support, they were helping people help themselves.
“We do not give people fish, what we give them is the way to fish,” said Marcus Agius, chairman of Barclays PLC. He furthered that the partnership with CARE International is a demonstration of Barclays commitments to Vietnam.
As part of a partnership project valued at 10 million pounds that Barclays is working with two NGOs, CARE International and Plan International, the financial assistance for Long An young people will be achieved by testing a new savings and loans model and subsequently linking them to formal microfinance institutions.
According to Barclays, a targeted component of financial literacy and entrepreneurship will be delivered to 10,000 young beneficiaries in the province to help them reduce poverty and unemployment.
Agius explained that this 10 million-pound partnership would strengthen and build upon the traditional financial systems that are utilized by the un-banked population in developing nations. This will benefit disadvantaged communities through enabling them to secure a more sustainable financial future.
CARE International will help deliver the financial aid to 10,000 disadvantaged people through traditional financial structures, such as village savings and loans associations (VSLA), self-help groups and revolving funds.
Peter Newsum, country director for CARE International in Vietnam, said after the initial partnership in Long An, the two sides would revise how the project works and then consider if more projects could be included.
“We chose Long An as the province has a number of jobless young people as part of impacts from urbanization. They have to seek job opportunities in cities and we would like to give a helping hand to them,” he stated.
Agius said Barclays was seeing potentials in investment banking and investment management services in Vietnam’s financial market.
“Barclays has a twin-track strategy: crisis management in short term and strategic momentum maintenance for long term. We could be happy to do it here." (SGT)
This marks the first step taken by the banking corporation to enter the Vietnamese market where it is planning a long-term investment strategy.
The financial partnership between Barclays and CARE International, the world’s largest independent relief and development organization, will benefit around 10,000 young people in Long An, who are dealing with unemployment.
Barclays top executives told reporters in Hanoi on Tuesday during their Vietnam visit that through the financial support, they were helping people help themselves.
“We do not give people fish, what we give them is the way to fish,” said Marcus Agius, chairman of Barclays PLC. He furthered that the partnership with CARE International is a demonstration of Barclays commitments to Vietnam.
As part of a partnership project valued at 10 million pounds that Barclays is working with two NGOs, CARE International and Plan International, the financial assistance for Long An young people will be achieved by testing a new savings and loans model and subsequently linking them to formal microfinance institutions.
According to Barclays, a targeted component of financial literacy and entrepreneurship will be delivered to 10,000 young beneficiaries in the province to help them reduce poverty and unemployment.
Agius explained that this 10 million-pound partnership would strengthen and build upon the traditional financial systems that are utilized by the un-banked population in developing nations. This will benefit disadvantaged communities through enabling them to secure a more sustainable financial future.
CARE International will help deliver the financial aid to 10,000 disadvantaged people through traditional financial structures, such as village savings and loans associations (VSLA), self-help groups and revolving funds.
Peter Newsum, country director for CARE International in Vietnam, said after the initial partnership in Long An, the two sides would revise how the project works and then consider if more projects could be included.
“We chose Long An as the province has a number of jobless young people as part of impacts from urbanization. They have to seek job opportunities in cities and we would like to give a helping hand to them,” he stated.
Agius said Barclays was seeing potentials in investment banking and investment management services in Vietnam’s financial market.
“Barclays has a twin-track strategy: crisis management in short term and strategic momentum maintenance for long term. We could be happy to do it here." (SGT)
Rice exports robust at start of year
Viet Nam exported 1.05 million tonnes of rice, earning almost 480 million USD, during the first two months of this year, according to the Ministry of Agriculture and Rural Development.
Both the amount and value of the rice were more than double the figures recorded during the corresponding period last year. In February alone, the country exported 750,000 tonnes of rice.
However, other agro-forestry-fisheries products experienced a drop in export values over the same period, earning nearly 2 billion USD, or 5.3% lower than the same period last year.
Coffee exports fetched 411 million USD from the sale and shipping of 267,000 tonnes, a fall of 11.5% in value against the first two months of 2008.
Rubber export turnover plummeted by 50% to 85 million USD, due to a steady fall in prices over the past year.
The export of fisheries products also suffered a decline in value, posting a turnover of 415 million USD during January and February, down by 15.5% year-on-year. (VNA)
Both the amount and value of the rice were more than double the figures recorded during the corresponding period last year. In February alone, the country exported 750,000 tonnes of rice.
However, other agro-forestry-fisheries products experienced a drop in export values over the same period, earning nearly 2 billion USD, or 5.3% lower than the same period last year.
Coffee exports fetched 411 million USD from the sale and shipping of 267,000 tonnes, a fall of 11.5% in value against the first two months of 2008.
Rubber export turnover plummeted by 50% to 85 million USD, due to a steady fall in prices over the past year.
The export of fisheries products also suffered a decline in value, posting a turnover of 415 million USD during January and February, down by 15.5% year-on-year. (VNA)
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