A worker polishes wood products at a workshop in Thuong Tin district of Hanoi (Photo: VNA)
Hanoi (VNA) - Exports of wood and timber products areexpected to hit 8 billion USD in 2017, surpassing the yearly target of 7.5billion USD, according to Nguyen Ton Quyen, Vice President and GeneralSecretary of the Vietnam Timber and Forest Product Association.
The figure reached nearly 7 billion USD in January-November,up 10.5 percent from the same period last year, said Quyen.
Strong growth of wood exports was seen in key markets such asthe US (up 18.8 percent), the RoK (14.2 percent) and Canada (13.4 percent). Thetrend was attributed to an increase in processed wooden products, such as MDF(Medium-density fibre board), particle board and artificial board.
Annual wood trade between Vietnam and EU is 650 – 700 millionUSD, or 12 – 15 percent of the nation’s export value, according to Quyen.
The Vietnam – EU free trade agreement will become effectivein 2018 and bring tariffs on wood products to zero, Quyen said, adding that theagreement is expected to lift trade to one billion USD.
Meanwhile, To Xuan Phuc from the US-based Forest Trends, saidVietnam’s wood and timber exports to the US, currently worth up to 2.7 billionUSD, might be affected by the US’s policy of creating more jobs in the US.
ไ The US, Japan, the EU, China and the Republic of Korea arethe biggest importers of Vietnam’s wood and timber products, accounting for 90percent of the total value of the sector. The US makes up 42.7 percent, followedby China (14.1 percent) and Japan (13.7 percent).-VNA
The year 2015 is providing a golden opportunity for Vietnam’s wood exporters to boost their global exports, according to the Handicrafts and Wood Industry Association of Ho Chi Minh City (HAWA).
Wood exports gained the highest value among Vietnam’s farm exports in the first four months of this year, hitting nearly 2.1 billion USD, a year-on-year increase of 6.2 percent.
Vietnam’s wood sector pocketed 425 million USD from exports to China in the first half of this year, ranking second among Vietnamese exports to China behind cassava.
Vietnam’s exports of wood and wooden products in the first quarter of this year hit 1.78 billion USD, a year-on-year increase of 17.1 percent, the General Department of Vietnam Customs reported.
The export of wood and wood products is forecast to bring home 7.5 billion USD in 2017 and keep increasing in the following years, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
A worker polishes wood products at a workshop in Thuong Tin district of Hanoi (Photo: VNA) 
