Agricultural exports enjoy growth in both volume and value.
(Photo: vneconomy.vn)
Specifically, the export of main agricultural products was estimated at over 19.3 billion USD, up 13.7%; main forest products reached about 14.3 billion USD, up 20.9%; seafood posted over 7.9 billion USD, up 3.5%; livestock production was estimated at 393 million USD, up 4.0%; and the production input group over 1.5 billion USD, up 25.9%.
Products or product groups witnessing export value increases include: coffee, rubber, rice, vegetables and fruits, pepper, cashew nuts, cassava and cassava products, livestock products, wooden products, rattan, bamboo, sedge carpet, and cinnamon.
Particularly, rubber, cashew nuts, cassava and cassava products saw increases in both export volume and value, specifically: rubber 40.5% in value; rice by 7.3%; cashew nuts, 14.6%; and cassava and cassava products, 23%.
In spite of a decrease of 6.7% in export volume, export value of pepper rose 44% thanks to average export price increasing by 54.4%. Pepper has the highest average export price since the beginning of the year.
Coffee also saw volume reduction, of 4.4%, but its export value still increased by 5.9%, thanks to price increase of nearly 11%.
Over the past 11 months, Vietnam mainly exported agricultural, forestry and fishery products to markets in Asia (accounting for 43.1% of the market share), the Americas (29.6%), Africa (1.9%) and Oceania (1.6%).
The US is the largest export market with over 11.9 billion USD, accounting for a 27.5% market share; in which the value of wood and wood products made up 67.2% of Vietnam’s agricultural, forestry and fishery export turnover to the market.
It was followed by China with nearly 8.4 billion USD, accounting for a 19.2% market share, and Japan with nearly 3 billion USD, accounting for 6.9%.
According to the Ministry of Agriculture and Rural Development, in the 11 months, import turnover of agricultural, forestry and fishery products reached about 39.18 billion USD, a year-on-year increase of 39%. With this, the trade surplus of the commodity was 4.3 billion, a year-on-year decrease of 56.5%.
Vietnam’s meat export to China spurs in October
Illustrative photo. (Source: VNA)
China was Vietnam’s largest meat buyer, among its 14 foreign markets, in October, Vietnam News Ageny quoted figures of the Ministry of Industry and Trade’s Agency of Foreign Trade.
Vietnam exported 2,020 tonnes of meat and meat products to China for 7.52 million USD, up 61.2 percent and 5.2 percent, respectively, compared to September.
Among the meat and meat products exported, frozen poultry meat accounted for the largest share, 1,230 tonnes, worth 2.25 million USD, marking a month-on-month increase of 266.7 percent in volume and 243.1 percent in value. China purchased 63.1 percent of the total during the month.
Meanwhile, Hong Kong (China) was the biggest importer of frozen pork from Vietnam, buying 89.2 percent of the total.
Experts propose VND445 trillion relief package for economic recovery
A group of leading experts have recommended that Vietnam need approximately 445 trillion VND or 5.48% of its 2021 GDP for its relief package to revitalize its economy from the COVID-19 impact in 2022-2023, reported VOV News.
National Asembly Chairman Vuong Dinh Hue speaking at the event. (Photo: VOV)
Speaking at the national economic forum in Hanoi on December 5, National Asembly Chairman Vuong Dinh Hue encourages experts to put forward solutions to help Vietnam revitalise its ailing economy and ensure social security in the post pandemic period.
The proposal was put forward by the experts at a national economic forum to seek solutions to post pandemic economic recovery and sustainable development held in Hanoi on December 5.
The forum was co-hosted by the National Assembly Committee for Economic Affairs, the Party Central Committee’s Economic Commission and the Vietnam Academy of Social Sciences.
The prolonged COVID-19 outbreak has taken its heavy toll on the national economy, and without a special relief package Vietnam will lose out and be left behind, warned economic expert Can Van Luc while delivering his report representing the group of experts.
Given the current context, Luc, who is a member of the National Financial and Monetary Policy Advisory Council, emphasized that without special fiscal and monetary stimulus programs and packages, Vietnam’s economy is projected to grow by only 4-4.5% in 2022.
In his opinion, coming fiscal and monetary policies should be formulated in a way that will stimulate both aggregate supply and aggregate demand. At the same time, it is necessary to improve health capacity and support people and businesses to access finance and social security.
To support economic recovery, he said the group of experts suggested the Government reduce VAT, social insurance premiums, environmental protection fee, and car registration fee. They also proposed a loan guarantee worth VND80 trillion for small and medium enterprises, along with an interest rate support package worth VND25 trillion.
It’s worthy of note that the team proposed increasing infrastructure investment worth 150 trillion VND in 2022 – 2023, with priority given to inter-regional, key projects which complete investment procedures, but lack capital sources.
Vietnam will have to mobilize more than 455 trillion VND, equivalent to more than 5% of GDP for its post pandemic economic recovery in the next two years, said Luc.
Delegates attend the national economic forum in Hanoi. (Photo: VOV)
Taking the floor, Nguyen Minh Cuong, Chief Economist of the Asian Development Bank in Vietnam, suggested Vietnam take measures to enhance revenue management and improve the efficiency of budget expenditure for the next 3-5 years to ensure finance safety and security.
According to the ADB expert, the economic stimulus package currently makes up less than 3% of GDP which could be raised to about 5-7%. In addition, public investment continues to be the pillar of economic development in the coming years.
Meanwhile, Assoc. Prof & Dr. Bui Quang Tuan from the Vietnam Academy of Social Sciences echoed Cuong, saying the scale of Vietnam’s economic stimulus packages was still relatively low compared to the similar packages adopted in previous years.
“Therefore, stimulus packages need to be big enough, urgent, timely, and drastic. These are difficult but very important goals to lay a firm foundation for comprehensive economic recovery in the medium and long term", he said.
In his opening speech, National Assembly Chairman Vuong Dinh Hue pointed out that, the fourth outbreak of COVID-19 starting in late April has dealt a heavy blow to Vietnam’s socio-economic development efforts. Its GDP contracted by 6.17% in the third quarter and will certainly fail to meet the yearly target.
He expected experts would suggest viable solutions to help Vietnam shape appropriate stimulus packages to ensure macroeconomic stability and control inflation that will serve to meet the country’s immediate tasks and long-term requirements for sustainable development and green growth.
Vietnamese beauty Nguyen Thuc Thuy Tien crowned Miss Grand International 2021
Vietnamese beauty Nguyen Thuc Thuy Tien crowned Miss Grand International 2021
Nguyen Thuc Thuy Tien from Vietnam was crowned Miss Grand International 2021 at the finale held on November 4 in Phuket, Thailand, reported Nhan Dan News.
Born in 1998, the 1.71m tall beauty from Ho Chi Minh City has measurements of 90-58-94. Previously, she entered the Top 5 and won the title of Beauty of Mercy at Miss Vietnam 2018.
At Miss Grand International 2021, she competed against 60 beauties from 60 countries and territories around the world, during which she won great appreciation from the audience.
Prior to winning the crown, Tien and Miss Grand Ecuador had to answer three tie-breaker questions on why they should win the title, their favourite thing in Thailand, and their experience during the one-month beauty pageant.
Miss Grand Ecuador, Brazil, Puerto Rico, and South Africa were named as first to fourth runners up, respectively.
Miss Grand International was founded in 2013. The pageant aims to promote peace and stands against all kinds of conflicts through its 'Stop the wars and violence' campaign./.