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| Photo for illustration. (Source: VOV) |
Statistics indicate that China imported 228,000 tonnes of durian worth 894.5 million USD in September, thereby representing an increase of 58.4% in volume and 39% in value compared to the same period from last year.
Vietnamese durian exports to China skyrocketed by 90% in volume and 71.5% in value compared to the same period from last year.
During the nine-month period, the northern neighbour imported approximately 1.38 million tonnes of durian, with a turnover of 6.2 billion USD, up 11.2% in volume and 5.6% on-year in value.
Thailand represented the largest supplier of durian to China throughout the reviewed period with a volume of 755,000 tonnes, worth 3.73 billion USD, down 14.1% in volume and 13.3% in value on-year.
Meanwhile, China imported nearly 618,000 tonnes of durian from Vietnam worth 2.45 billion USD, up 72.2% in volume and 57.3% in value compared to the same period from last year.
At present, the average import price of Vietnamese durian in the Chinese market has decreased by 8.7% on-year to 3,962 USDper tonne.
According to data compiled by the General Department of Vietnam Customs, Vietnam exported fruit and vegetables worth 4.09 billion USD to China during the 10-month period, representing a rise of 28% and accounting for 66% of total Vietnamese exports.
With these positive signs, Vietnamese fruit and vegetable export turnover to this market reached its highest level and exceeded the export value seen during the 2013 to 2023 period.
Vietnam has officially exported 11 types of fruit to China, including durian, jackfruit, dragon fruit, banana, mango, longan, lychee, watermelon, rambutan, mangosteen, and passion fruit.
Insiders pointed out that there is ample room ahead for Vietnamese fruit and vegetable exports to China moving forward thanks to the Regional Comprehensive Economic Partnership (RCEP) and the ASEAN-China Free Trade Area (ACFTA).
Vietnam emerges as forerunner in global nearshoring trend
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| Illustrative image (Photo: VNA) |
Vietnam has emerged as a leading destination for companies relocating their production facilities, aiming to protect supply chains from potential disruptions, Vietnam News Agency quoted an article published by Brazil’s riotimesonline.com on November 17.
The newspaper cited recent data from S&P Global Market Intelligence as saying that the landscape of global manufacturing is changing rapidly. Vietnam has emerged as a frontrunner in global nearshoring trend, outpacing even Mexico.
Real-world examples underscore Vietnam’s attractiveness. Samsung has invested heavily in Vietnamese factories for electronics production. Nike and Adidas have shifted substantial production from China to Vietnam. Intel has also established a significant presence with a chip plant in Ho Chi Minh City.
Over 35% of Vietnamese firms reported increased demand from multinational manufacturers in the past year. This contrasts sharply with Mexico, where only 15% of companies experienced similar growth. The survey, conducted in May 2024, highlights Vietnam’s growing appeal to international businesses.
The article pointed out several factors behind Vietnam’s success in this area, saying that the country’s geographical location provides easy access to major Asian markets. Labour costs remain competitive, attracting companies looking to optimise their expenses. The Vietnamese Government has also enforced policies that support foreign investment.
Vietnam’s workforce also plays a crucial role in this success story. The country ranks 9th among 60 nations in ManpowerGroup’s Total Workforce Index, indicating a reliable and skilled labour pool. Such a workforce is essential for companies considering relocation, it said.
According to the article, experts estimate a 10-12 year period for investment relocation. This timeframe adds urgency to the competition between emerging manufacturing hubs. Countries must act swiftly to attract and retain these investments.
Vietnam’s rubber exports to Malaysia grow by triple digits
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| Processing rubber for export at the Chu Pah Rubber One Member Co Ltd factory in Gia Lai province. (Photo: VNA) |
Vietnam exported 7,260 tonnes of rubber to Malaysia, valued at 11.5 million USD in October, surging by 861% in volume and 1,240% in value year-on-year, Vietnam News Agency quoted statistics of the General Department of Customs.
This also represents a 22.2% increase in volume and a 47.8% rise in value compared to September, marking the highest monthly figures for the year.
From January to October, Malaysia spent 35.2 million USD to import 24,800 tonnes of rubber, reflecting a 349% increase in volume and a 405% rise in value year-on-year.
This elevated Malaysia to the second-largest market by volume and the third-largest by value for Vietnam's rubber exports.
In the first ten months of 2024, Vietnam exported 1.54 million tonnes of rubber, generating over 2.52 billion USD in revenue.
This represents a 4.9% decline in volume but a 16.4% increase in value compared to the same period in 2023. The average export price stood at 1,638 USD per tonne, up by 22.4% year-on-year.
China remained Vietnam's largest rubber export market, accounting for 78.7% of the country’s total rubber exports. Exports to China reached 1.06 million tonnes, valued at 1.7 billion USD, a 16.8% decrease in volume but a 1.5% rise in value year-on-year.
The first ten months witnessed notable shifts in Vietnam's rubber export markets. While exports to China, the Republic of Korea, the Netherlands and Argentina declined year-on-year, substantial growth was recorded in other markets such as India, the US, Germany and notably Malaysia.
Rubber remains a significant export sector for Vietnam, which ranks fifth globally in plantation area and third in natural rubber production.
According to the Vietnam Rubber Association (VRA), the country has around 930,000 hectares of rubber plantations, producing about 1.3 million tonnes of latex annually.
Despite the decline in export volume this year, Vietnam's rubber export value has increased thanks to consistently high export prices.
With these results, rubber export revenue in 2024 is forecast to reach 3-3.5 billion USD, an increase of 200-400 million USD compared to last year.
Over 720 billion VND to build new cargo terminal at Hai Phong’s Cat Bi airport
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| At the ground-breaking ceremony of the new cargo terminal at the Cat Bi International Airport. (Photo: ACV) |
To enhance cargo handling capacity at the Cat Bi International Airport in the northern port city of Hai Phong, the Airports Corporation of Vietnam (ACV) has commenced the construction of a new cargo terminal, slated for completion and operation by January 2026, reported Vietnam News Agency.
According to ACV Deputy General Director Tran Anh Vu, the project worth 724 billion VND (28.5 million USD) is designed to handle 100,000 tonnes of cargo annually. The terminal will have a comprehensive system of technical infrastructure facilities, with an expandable capacity of up to 250,000 tonnes per year.
The airport is a key gateway in Vietnam, playing a vital role in the socio-economic development of the city, the northern coastal region, and the Red River Delta. Over recent years, Hai Phong has seen rapid growth and a significant number of investors. Its increasing demand for the transport of high-tech goods by air highlights the urgent need for enhanced aviation logistics services.
Vu stressed that the comprehensive modernisation of Cat Bi's infrastructure is a priority in the ACV’s 2021 – 2025 investment strategy.
Vice Chairman of Hai Phong’s People’s Committee Nguyen Duc Tho noted that upgrading and expanding the airport aligns with the Prime Minister’s decisions on air transport development planning, while supporting the implementation of the Politburo’s Resolution No. 45-NQ/TW on the development of Hai Phong by 2030 with a vision to 2045.
Switzerland aids over 3.34 million USD to develop circular economy in Vietnam
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| Deputy Minister of Planning and Investment Do Thanh Trung (Photo: VNA) |
Deputy Minister of Planning and Investment Do Thanh Trung has announced that his ministry received over 3.34 million USD funded by Switzerland’s State Secretariat for Economic Affairs (SECO) to promote circular economy and mitigate climate change impacts in industrial zones in Vietnam, reported Vietnam News Agency.
Speaking at the recent signing ceremony of the project document on replicating the eco-industrial park approach to promote circular economy in Vietnam, Trung said that this funding will facilitate the replication of the eco-industrial park (EIP) model nationwide based on successes in the 2014-2024 period, promote circular economy in the industrial sector and in IPs, minimise the impact of production activities on the environment, and support IPs in responding to climate change.
The signing ceremony marks an important step forward for Vietnam in promoting and replicating approaches to EIPs, contributing to enhancing the position and sustainable development of this model nationwide, he affirmed.
The project will help expand the implementation of eco-industrial zones, focusing on improving the efficiency of resource use, minimising waste, promoting recycling, improving the socio-economic, and environmental efficiency of enterprises, thereby contributing to sustainable and comprehensive industrial development, added the official.
The deputy minister appreciated Switzerland's contributions to Vietnam in terms of official development assistance (ODA) and foreign investment. Regarding ODA, since 1992, through SECO, Switzerland has supported Vietnam with nearly 630 million CHF (709 million USD). In the cooperation programme between Switzerland and Vietnam for the 2021-2024 period, Switzerland committed to providing about 70 million CHF, with two major orientations of promoting the formation of a healthy economic framework and market orientation, and enhancing the competitiveness and market access of the private sector./.