Vietnamese specialty coffee samples. (Photo: VNA)
The event, co-hosted by the Vietnamese Ministry of Industry and Trade’s Department of Trade Promotion (Vietrade) and Asia-Africa Market Department, will take place from April 5-6, connecting three main locations – Hanoi (Vietnam), Algiers (Algeria), and Dakar (Senegal).
It is expected to provide an opportunity for the three countries to introduce about their strengths, strengthen cooperation in trade and investment, and connect their agricultural and food producers amid the ongoing COVID-19 outbreak.
According to the General Department of Vietnam Customs, Vietnam’s exports to Algeria totalled around 150 million USD last year with main export items including coffee (94 million USD), fishery products, pepper, rice, cashew nut, aluminium and other metals, chemicals, fabrics, footwear and machinery. Vietnam’s imports from the African country, mostly chicken feet, scrap paper, cattle feed and pharmaceuticals, only valued about 3 million USD.
Meanwhile, in 2019, Vietnam shipped to Senegal more than 52.5 million USD worth of goods, mainly rice, pepper, confectionery, textile and garment, fruits and vegetables, fishery products, vehicles and parts. The Southeast Asian country spent some 41.3 million USD on imported goods, mostly raw cashew nut, cotton, fishery products and cattle feed, from Senegal.
Vietnam – UK trade turnover rises sharply
Export and import turnover between Vietnam and the UK in January reached more than 657 million USD, a year-on-year increase of 78.57%, according to the Department of Europe – America Market, citing data from the General Department of Customs.
Photo for illustration. (Soure: VNA)
Of this, Vietnam’s exports to the UK were valued at 598 million USD, up 84.61% year on year. This is an impressive growth rate in the context of exports to many partners meeting difficulties due to impacts of the COVID-19 pandemic.
According to the Ministry of Industry and Trade, the optimistic signal is even more meaningful as the Vietnam – UK Free Trade Agreement (UKVFTA) took effect from January 1, 2021.
In the structure of Vietnam’s export products to the UK, export turnover of agricultural products remained stable and positive in the first month of 2021, with seafood export earning 19.72 million USD (up 18.1%) and vegetables and fruits 1.04 million USD, up 148.6%. These are the items that have opportunity to increase export value and market share through tariff preferences in UKVFTA.
The items of the processing and manufacturing industry also gained impressive growth in January; such as phones and accessories of all kinds (up 371.6% year on year); machinery, equipment and spare parts (up 109.9%); computers and electronic products (up 91%); and iron and steel of all kinds (up 11%).
Vietnam continued to enjoy trade surplus to the UK, with a surplus of 598 million USD, a year-on-year increase of 113.7%.
Two-month budget collection reaches over 286 trillion VND
State budget collection in February 2021 reached an estimated 97.2 trillion VND, bringing the figure for the first two months of the year to 286.7 trillion VND, equivalent to 21.3% of the annual estimate or a year-on-year rise of 0.6%, the Ministry of Finance reported.
Photo for illustration. (Source: CPV)
Of this, domestic collection posted 246.65 trillion VND in the two months, reaching 21.8% of the estimate and marking a year-on-year rise of 2.8%.
During the period, management agencies inspected and conducted examination of 16,500 tax declaration dossiers of enterprises.
After conducting 3,400 inspections and checking 16,500 corporate tax filings, tax agencies proposed 3.4 trillion VND in fines be imposed, including 780 billion VND for the State budget. Some 345 billion VND has been collected, together with 5.1 trillion VND in tax debts.
The Ministry of Finance said that the balance of central budget and local budgets is guaranteed. In the first 2 months, the Ministry of Finance issued 27 trillion VND of government bonds, with an average term of 14.58 years, the remaining plan is 8.51 years and the average interest rate is 2.34% a year.
State budget expenditure reached 207.3 trillion VND in the first two months, or 12.3% of the estimate and down 6% year-on-year.
Specifically, spending for investment and development reached 23.49 trillion VND, as much as 4.9% of the estimate, down 32.4%./.