Trade recovers strongly since reopening

Friday, 17/03/2023 15:10
A year since Vietnam reopened after a global pandemic, the country has seen trade recovering strongly, reported Vietnam News Agency.
Workers at a textile company in the northern province of Bac Ninh.(Photo: VNA) 

The decision, according to economists and policymakers, was a necessity to unshackle trade and industries after a prolonged period of time in which hundreds of factories were forced to close down or reduce production capacity in compliance with strong social distancing rules.

The reopening, which was made possible with a nationwide vaccination programme, has allowed the supply chain to come back, giving a much-needed boost to industries and trade as well as to the country's export sector.

Than Duc Viet, General Director of May 10, one of the country's largest textile companies, said strong social distancing measures during the pandemic significantly disrupted the company's operation and threatened its ability to maintain production at times.

He said the worst part of it was not knowing when his factory's doors could be closed.

"Our approach during the pandemic was to move as much of our operations as possible online while staying flexible to deliver on our promises with international customers," he said.

He said earlier experience in fighting the spread of the COVID-19 virus allowed the company to adapt quickly and effectively to the situation.

Nguyen Thanh Son, president of Hoa Tho Textile Group's worker union, said it was largely thanks to workers' commitment and discipline the group was able to resume production quickly. Hoa Tho Textile reported a net income of over 5 billion VND in 2022.

"While our industry has been struggling with fewer orders compared to the same period last year. We remain confident we won't have to lay off any of our 12,000-strong workforce," he said.

Vietnam's textile remained a key pillar of the economy with the largest number of workers. The sector's contribution to export has jumped from 1.96 billion USD in 2001 to 40.4 billion USD in 2021 or 12% of the country's entire export.

The sector has set a target this year to bring that figure to 44 billion USD, an 8% increase from the previous year.

Cao Huu Hieu, General Director of Vinatex, said by September 2022, the group recorded revenue of 1.18 trillion VND, 24% higher than its quarterly target. However, unfavourable factors have since hit the sector hard.

"By the end of 2022, we were hit especially hard by lower demand and plummeting sales," he said.

He added the situation will likely remain grim in the foreseeable future until purchasing power in large consumer markets such as the US, the EU and China recover.

Minister of Industry and Trade (MoIT) Nguyen Hong Dien said Vietnam's export sector managed to have a successful year, despite numerous difficulties and setbacks, largely caused by international geo-political events.

Tra fish exported to diverse foreign markets (Photo: VGP) 

The country's import-export revenue last year was reported at 732 billion USD, maintaining a trade surplus (11.2 billion USD in 2022) for 17 consecutive years. It has put the Southeast Asia economy among some of the most robust economies in the world.

2022 was also the year Vietnam recorded 39 commodities with export values exceeding the 1 billion USD mark, four more compared to 2021. Among these, 10 commodities broke the 10 billion USD mark.

There has been also improvement in the composition with industrial and processing continuing to lead the chart, accounting for over 86% of the country's total export at 294.5 billion USD in value, a 13.3% year-on-year increase.

Tran Thanh Hai, Deputy Director of MoIT's Agency for Foreign Trade, said Vietnamese businesses' efforts to improve their standing in the global supply chain and seek out new markets have paid off. Hai said the key factor that allowed the country to economically recover since the pandemic was its successful attempt to fight the pandemic.

In addition, a number of key trade agreements including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the European Union–Vietnam Free Trade Agreement (EVFTA), the UK-Vietnam Free Trade Agreement (UKVFTA) and the Regional Comprehensive Economic Partnership (RCEP) have put the country in a prime position to boost the export of many of its products. Export to the above-mentioned markets recorded a 20 % yearly increase last year.

Vietnam's top female badminton player now 45th in world ranking

Badminton player Nguyen Thuy Linh of Dong Nai team has risen to the 45th from the 49th position in the latest world’s singles women rankings, reported Vietnam News Agency according to statistics from the Badminton World Federation (BWF).

 Vietnam's top female badminton player Nguyen Thuy Linh now 45th in the world ranking. (Photo: VNA)

The 26-year-old Linh’s highest ranking so far was the 41st in the 28th week of 2019.

Linh will participate in the Ciputra Ha Noi-Yonex Sunrise Vietnam International Challenge 2023 which is set to commence on March 21 and run through March 26 in Hanoi.

She is the only seeded Vietnamese player, at No 2 in the women's singles category, at the tournament.

Meanwhile, in the men’s singles category, Vietnamese badminton legend Nguyen Tien Minh fell to 165th with 8,720 points.

Nguyen Tien Minh is no longer Vietnam's number-one badminton player after being nudged aside by Nguyen Hai Dang, 23, who climbed to 163rd in the world ranking with 8,910 points and became the new king of Vietnamese badminton.

Can Tho exports first batch of durian to China via official channels

The Can Tho Department of Agriculture and Rural Development held a ceremony on March 17 to mark the export of its first batch of 18 tonnes of durians to the Chinese market, reported the Voice of Vietnam.

Delegates cut the ribbons marking the export of first batch of of durians to the Chinese market (Photo: 

The move comes under the protocol signed between the Vietnamese Ministry of Agriculture and Rural Development and the General Department of China Customs.

Vietnamese firm Ngoc Minh Lang Son Import-Export Co., Ltd will be the exporting company while the importing enterprise will be Shenzhen Pan Asia Logistics Co., Ltd. of China.

Upon addressing the ceremony, Tran Thien Thanh, deputy director of Truong Phat Durian Cooperative in Can Tho City, said after being inspected by the Chinese side, the co-operative was assessed to fully meet stringent export standards and was therefore granted two growing area codes to export to the market.

Truong Phat Cooperative has therefore signed a long-term product consumption contract with Ngoc Minh Lang Son Import-Export Co., Ltd., with the purchase price being equal or higher than the market price during the harvest season.

Industry insiders pointed out that despite durian exports recording bright prospects this year, there remains high risk of excess, adding that farmers must fully abide by the export contract and duly apply techniques in order to launch products in line with the requirements of businesses.

Cho Ray Hospital conducts over 1,100 kidney transplants

30 years on since the first kidney transplants were performed in 1992, Cho Ray Hospital has so far successfully conducted a total of 1,127 cases, helping to improve the lives of thousands of people, reported the Voice of Vietnam..

Cho Ray Hospital conducts a kidney transplant surgery (Photo: 

Le Duc H, is thought to be the longest-surviving transplant patient in Vietnam. In 1997 he suffered from end-stage kidney failure before successfully undergoing a transplant at Cho Ray Hospital thanks to a kidney donated by his relatives. H is currently living and working as a doctor in Lam Dong province in the Central Highlands and enjoys stable health.

To master transplant techniques, Cho Ray Hospital has sent doctors and surgeons to leading hospitals abroad in order to learn about ABO-incompatible kidney transplants, according to Nguyen Tri Thuc, director of the hospital.

Last year, the hospital successfully conducted the country’s first ABO-incompatible living-donor kidney transplant. Accordingly, a 51-year-old women of Ben Tre province in the Mekong Delta volunteered to donate one of her kidneys to her 54-year-old husband who had end-stage renal disease and had been on dialysis for over a year. Despite their different blood types, the surgery was successfully conducted in late December, and the couple are now in a stable condition.

Kidney transplantation between recipients and donors of incompatible blood types has been performed in several countries, and such a successful case in Vietnam shows local doctors have acquired the techniques and it also opens up plenty of opportunities for kidney patients to live longer, said Thuc.

Deputy Minister of Health Tran Van Thuan shared that each year, across the world more than 40,000 lives are saved through organ donation, with about 460,000 people living off one or more body parts that come from others.

He recalled that though the first transplant surgery in the world took place in 1954, Vietnam’s organ transplant history began with a kidney transplant on June 4, 1992, at Military Hospital 103. Since then Vietnam has made significant improvements in transplant techniques, with kidney transplants receiving international acclaims. 

Vietnam has now mastered the most important and common organ transplant techniques, successfully performing more than 1,500 cases of kidney, heart, liver, pancreas, and lung transplants.

However, locally there is a severe shortage of deceased donors. The demand for organs continues to exceed supply, meaning that many people waiting for such a transplant die every day.

Deputy Minister Thuan stressed that donating tissues and organs to people suffering from organ failure is a priceless gift. Organ donation is not only a humanitarian act, but also helps to prolong the life of the people who are in need, he concluded./.

Compiled by BTA