Phu Quoc listed among top 10 best islands in Asia

Thursday, 06/10/2022 18:07
Phu Quoc in the southern province of Kien Giang has been voted as one of 10 best tourist islands in Asia by readers of Travel magazine Condé Nast Traveler of the United States.
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Phu Quoc Island in the southern province of Kien Giang (Photo: vnexpress.vn) 

With an overall score of 89.77 out of 100, Phu Quoc ultimately ranked sixth in the list, behind Phuket in Thailand, Langkawi in Malaysia, Koh Samui in Thailand, and Bali in Indonesia, according to Radio the Voice of Vietnam.

The top position went to Boracay in the Philippines, whilst the other destinations to make the list include Sri Lanka, Palawan in the Philippines, the islands of Okinawa and Ryuku in Japan, and Phi Phi in Thailand.

Phu Quoc is renowned for being the “pearl island” of Vietnam and is famous for its beaches with clear blue water such as Bai Sao and Bai Dai, as well as sightseeing spots including Duong Dong town and the fishing villages of Ham Ninh and Ganh Dau.

The rankings were voted for by thousands of readers from across the globe who submitted their responses and ratings from their recent travel experiences to the world’s various countries, cities, islands, hotels, resorts, cruise lines, airlines, and airports.

Exports of forestry waste products likely to rake in billions of USD

Wood pellets, made from compressed sawdust and forestry wastes, have become a key currency earner of the wood industry, having the great potential to rank in the group of export staples with turnover of over 1 billion USD.

Vietnam’s wood pellet export value was just about 145 million USD in 2017 and surged to 413 million USD in 2021, reported the Vietnam News Agency.

Close to 2.4 million tonnes of the product were shipped overseas in the first half of 2022 for approximately 354 million USD. If the growth is maintained at the current rate, the export turnover may hit around 700 million USD for the entire year.

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Forestry waste products (Photo: goviet.org.vn) 

In particular, the product’s export price increased sharply between January and June to an average of nearly 150 USD per tonne, more than 27% higher than the average price in 2021.

The use of by-products to make the pellets helps wood factories raise incomes, offsetting the high price of imported raw materials. Currently, Vietnam houses about 300 pellet production facilities,which have solely exported to Japan and the Republic of Korea (RoK).

According to the Association of Vietnam Timber and Forest Product (Viforest), raw materials used in the production are those almost discarded during the processing of wood products. However, they can be turned into a cash cow business.

Tremendous room for export is now opened up for Vietnam’s biomass pellets as countries like the RoK, Japan, and China, and those in the EU are on the path of switching to more sustainable sources of energy. The global wood pellet market is expected to reach 15.63 billion USD by 2026, with a compound annual growth rate of 7.28% between 2021 and 2026.

Regarding the Government’s considering of the possibility of imposing export tax on the product, Viforest Chairman Do Xuan Lap expressed his concern that the tariff might cause a waste of the raw material, and directly and negatively affect parties involved in the chain, including afforestation households, sawmills - wood peelers, and furniture manufacturing facilities. 

Vietnamese rice price soars amid India tightening export restrictions

India’s official ban placed on broken rice has led to a negative impact on the global rice market, resulting in the price of Vietnamese rice to increase sharply and surpass that of Thai rice, according to details given by the Vietnam Food Association (VFA).

The VFA revealed that Vietnamese 5% broken rice is currently traded at US$428 per tonne, a rise of US$5 per tonne from late September and up US$35 per tonne compared to the period when India put the export restrictions into effect.

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Vietnamese rice price soars amid India tightening export restrictions (Photo: baochinhphu.vn) 

Thailand's 5% broken rice is now being sold at US$422 per tonne, a decline of US$1, while Indian rice stood at US$378 per tonne, a drop of US$15 from late September. In terms of the global rice market, the price of Vietnamese rice has now surpassed that of Thailand, said Radio the Voice of Vietnam.

Furthermore, Vietnam’s 25% broken rice was traded at US$408 per tonne, an increase of US$5 compared to the end of September, while the rice price of Thailand, India, and Pakistan hovered at US$406, US$363, and US$371 per tonne, respectively.

India’s official ban placed on broken rice and the imposition of a 20% export tax on other rice varieties is anticipated to make the price of Vietnamese rice increase further and surpass that of Thailand in the future, according to predictions made by the Institute of Policy and Strategy for Agriculture and Rural Development.

Furthermore, firms are likely to become short of supply sources from India, while animal feed manufacturers still have great demand. This move is anticipated to make Vietnamese broken rice and by-products edge up in the near future.

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The export price of Vietnamese rice has increased by around US$30 per tonne compared to the beginning of September (Photo: baochinhphu.vn)

Over the past few days, the export price of Vietnamese rice has increased by around US$30 per tonne compared to the beginning of September following India moving to tighten rice export restrictions.

With this current trend, many businesses believe that the export price of rice is likely to hit record highs like last year and exceed the set plan of between 6.3 million and 6.5 million tonnes.

With regard to India's ban placed on rice exports, Prime Minister Pham Minh Chinh has requested that the ministries of Agriculture and Rural Development, Industry and Trade, and Finance closely monitor the situation in order to take proper and timely measures.

This should be done as part of national efforts to ensure food security, efficiency in rice export management, as well as stabilising the rice price for the benefit of local farmers.

Machinery, supporting industry expos gather 250 brands

More than 250 brands are participating at METALEX Vietnam 2022, an annual exhibition showcasing machinery, tools and metalworking industry, and Supporting Industry Show 2022, which opened in Ho Chi Minh City on October 6.

The brands from 20 countries and territories include Accretech, Epson, Mitutoyo, Takamaz, Yamaha, Hiwin, LKM, and New Century, according to the Vietnam News Agency.

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At the opening ceremony of the event (Photo: VNA) 

Lasting until October 8 at the Saigon Exhibition and Convention Centre, the shows enabled Vietnamese mechanical processors to meet representatives of foreign traders to learn about opportunities to manufacture mechanical products for export to potential markets such as North America.

They also feature a seminar on the application of additive manufacturing in mechanical processing and metal 3D printing; an Engineer Master Class workshop; business matchmaking events; and technology showcases, among others.

Vu Trong Tai, general director of RX Tradex Vietnam – one of the organisers, said METALEX Vietnam 2022 introduces latest trends in the market and connect potential partners./.

Compiled by BTA

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