Hoa Binh exports over 17 tonnes of sugarcane to US

Friday, 25/08/2023 20:01
A ceremony was co-hosted by Tien Ngan Trading and Investment Co. Ltd and the Hoa Binh provincial Department of Agriculture and Rural Development in the northern mountainous province on August 25 to ship a batch of 17.3 tonnes of fresh sugarcane to the US, said the Vietnam News Agency.

Hoa Binh’s fresh sugarcane exported to the US (Photo: VNA)

Director of the provincial Department of Quality Control of Agriculture, Forestry and Fisheries Nguyen Huu Tai said sugarcane is a crop with great export potential and well-suited to the local climate and soil conditions, so it could be grown more to generate high economic efficiency.

Nguyen Le Diep, Director of the Tien Ngan Trading and Investment Co. Ltd, said the company plans to ship 300-500 tonnes of sugarcane to the Republic of Korea, the UK and the EU this year.

Sugarcane grown in Hoa Binh province (Photo: kinhtemoitruong.vn) 

According to the provincial Department of Agriculture and Rural Development, local sugarcane has not only been present in various regions nationwide but has also found its way into foreign markets. Starting with just a 120-kg sample batch of purple sugarcane exported to Japan, its export volume has rapidly increased over the years, reaching 5.7 tonnes in 2020, 74 tonnes in 2021 and 300 tonnes in 2022.

The first batch of 20 tonnes of sugarcane was exported to the US on March 19.

Ho Chi Minh City to set off fireworks on National Day

Fireworks are due to light up the skies over Ho Chi Minh City on September 2 to celebrate the 78th anniversary of National Day, Radio the Voice of Vietnam reported.

A number of 15-minute shows, funded by businesses and organisations, will start at 9 p.m. on September 2.

Ho Chi Minh City to set off fireworks on National Day – Photo for illustration (Source: vnexpress.net)

A high-altitude firework display will be held from the roof of the Saigon River tunnel in Thu Thiem tunnel of Thu Duc city, whilst one low-altitude display will be set off in the Dam Sen Cultural Park in District 11.

Ho Chi Minh City also plans to hold various artistic programmes to mark the event, including a special arts programme which is scheduled to take place on Nguyen Hue Pedestrian Street from 8 p.m. to 10 p.m. on September 2.

Furthermore, the municipal Department of Culture, Sports and Tourism has proposed flying hot-air balloons on Nguyen Thien Thanh street in Thu Duc city on September 2 and September 3.

The country will enjoy a four-day holiday from September 1 to September 4 in order to celebrate the upcoming National Day.

Trade surplus reaches 16.25 billion USD by mid-August

Vietnam enjoyed a trade surplus of 16.25 billion USD as of August 15, the Vietnam News Agency quoted the figure of the General Department of Customs.

The country’s total import and export turnover hit over 402 billion USD in the period, including 209.43 billion USD in export value, representing a yearly decline of 10.1%, or 23.5 billion USD in comparison with the same period last year.

In the first half of August, Vietnam's trade with the rest of the world was estimated at 28.6 billion USD, of which export value decreased by 10.8 % year-on-year to 14.4 billion USD.

Trade surplus reaches 16.25 billion USD by mid-August (Photo: VNA) 

Top exports include phones and accessories (2.42 billion USD); computers, electronic products and components (2.38 billion USD); garments and textiles (1.55 billion USD); and machinery and equipment (1.53 billion USD).

Meanwhile, the country spent 14.2 billion USD on importing commodities in the reviewed period, up 5.3% against the same period last year.

The Ministry of Industry and Trade said it will continue to support businesses to optimise benefits from free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK – Vietnam FTA (UKVFTA), in an effort to boost exports amid a global market slump.

The ministry has also worked with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to other fruits and vegetables of Vietnam such as green-skinned pomelo, fresh coconut, avocado, pineapple, star apple, lemon, and cantaloupe.

Vietnam lures nearly US$18.15 billion in foreign investment over eight months

Vietnam attracted approximately US$18.15 billion in foreign direct investment (FDI) between the beginning of the year and August 20, up 8.2% on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment, according to Radio the Voice of Vietnam.

There were 1,924 newly-registered projects which registered a combined capital of US$8.87 billion during the eight-month period, up 69.5% in terms of the number of projects and up 39.7% in capital compared to the same period from last year.

Meanwhile, more than US$4.53 billion was added to 830 existing projects, an increase of 22.8% in the number of projects but down 39.7% in relation to capital.

Vietnam lures nearly US$18.15 billion in foreign investment over eight months (Photo: VNA) 

The value of capital contribution and share purchase deals reached US$4.47 billion, down 6.5% in number of transactions by up 62.8% in capital against the same period from last year.

With regard to FDI attraction over the past eight months, the Foreign Investment Agency has pointed out that the total registered investment capital has continued to maintain a growth rate of 8.2% on-year, while new investment capital, capital contributions, and share purchases continued to rise compared to the same period from last year.

The number of projects with capital adjustment also maintained an increase compared to last year’s corresponding period, which therefore demonstrates investors' confidence in the Vietnamese investment environment and has allowed them to continue to make decisions to expand investment in the country

Most notably, FDI disbursement has seen positive signs, reaching US$13.1 billion in the reviewed period, up 1.3% on-year and up 0,5 percentage points compared to the first seven months of the year.

These achievements can be attributed to drastic solutions achieved by the Government and the Prime Minister in the initial months of the year in terms of removing hurdles for enterprises in disbursing investment capital.

Foreign financiers have sunk capital into 18 sectors out of 21 national economic sectors, of which the processing and manufacturing industry took the lead with a total investment of nearly US$13 billion, accounting for nearly 67.8% of the total registered investment capital and up 14.7% on-year.

The real estate sector ranked second, with total investment of more than US$1.76 billion, duly accounting for more than 9.7% of total registered investment capital, an annual decline of 47.2%.

There were 100 countries and territories investing in the Vietnamese market, of which Singapore topped the list with a total investment of more than US$3.83 billion, down 15.4%, followed by China with nearly US$2.69 billion, up 90.8%, and Japan with more than US$2.58 billion, up 73.1%. 

However, in terms of the number of projects, China led the way for new projects, making up 20.7%, while the Republic of Korea topped the list in terms of the number of capital adjustments made, accounting for 27.6% of the overall figure./.

Compiled by BTA