Photo for illustration. (Source: VNA)
The Asian Development Bank (ADB) and Binh Duong Water Environment Joint Stock Company (BIWASE) signed an 8 million USD loan to expand the Tan Hiep Water Treatment Plant (WTP) in Binh Duong province, one of the fastest-developing provinces of Vietnam.
The upgrade will help to meet rising water demand of residential and industrial customers in Ben Cat town, Tan Uyen town, Binh Duong new city, and Thu Dau Mot city of Binh Duong province, where industrial zones provide jobs for nearly 1.3 million locals and more than 500,000 foreigners.
The financing package also includes a parallel co-financing of 8 million USD from the Japan International Cooperation Agency.
A further 500,000 USD in technical assistance will be provided by the e-Asia and Knowledge Partnership Fund, established in 2006 by the Republic of Korea to help ADB’s developing members meet their development goals through the creation and sharing of experience, information, and knowledge.
Vietnam’s export turnover to China hits nearly USD38 billion
Vietnam’s export turnover to China reached nearly USD5.5 billion in October, bringing the total figure from the start of the year to nearly USD38 billion, according to statistics of the General Department of Customs, according to VOV News.
China becomes the first market to reach USD100 billion in terms of bilateral trade turnover with Vietnam
Furthermore, the country spent USD8 billion on imports from China in October, bringing total import turnover from the Chinese market to more than USD65.6 billion during the 10 months of the year.
China has retained its position as Vietnam’s largest trade partner and has become the first market to reach USD100 billion in terms of bilateral trade turnover, with this figure being achieved by the end of October.
Despite a number of positive signs, recent developments relating to trade tensions between the United States and China, along the COVID-19 pandemic, are predicted to affect Vietnamese import-export activities in the near future.
As a means of facilitating the export of goods to China, the Ministry of Industry and Trade (MoIT) has simplified administrative procedures, made institutional reforms, and improved the investment climate in order to reduce costs for businesses.
Exports of processed fruits expected to rise 14-17% in 2020
Vietnamese processed fruit and vegetable exports in 2020 are expected to increase from 14% to 17% in comparison from last year, according to VOV News.
Processing mango for export. (Photo: agro.gov.vn)
Despite fruit and vegetable exports enduring a downward trajectory due to the COVID-19 pandemic, the export of local processed fruit and vegetables has witnessed vigorous growth over the opening nine months of the year, according to Ministry of Industry and Trade (MoIT).
September alone saw Vietnam export processed fruit and vegetables worth USD59.9 million, representing a year-on-year increase of 5.2%, thereby causing total export turnover to surge by 14% to USD574 million on-year during the nine-month period.
The country’s major export markets for processed fruit and vegetables include China, the United States, the Republic of Korea, Japan, and the Netherlands./.