Photo for illustration (Source: congthuong.vn)
India, a South Asian nation with a population of more than 1.36 billion, is offering Vietnam a great chance to export its dragon fruit to this market as the fruit is the favourite with Indians, the Vietnam News Agency qouted the sayings of experts.
Over the past five years, the export value of the Vietnamese dragon fruit to India has increased considerably, from 26% in 2015 to 52% in 2020.
“Nearly 60% of the Indian people are vegetarian and their staple food consists of only vegetables and fruits. Therefore, India is an extremely large market for Vietnamese fruit and vegetable exporters,” says Vietnamese Ambassador to India Pham Sanh Chau.
Sharing the view, Vu Ba Phu, director of the Trade Promotion Agency, states Indians prefer dragon fruit because the fruit is nutritious, beneficial to health, and has an aromatic taste.
“This is a lucrative market for the Vietnamese fruit, especially when the two countries have constituted a fairly complete legal corridor through government-level cooperation documents,” notes Phu.
However, he reveals that India is not a highly demanding market and it prefers to care about the price of the product rather than product quality and standards.
“Businesses should be aware that the per capita income of the Indian people is still lower than that of Vietnam and the domestic fruit price in India is rather low due to the subsidy policy of the government. So, they should carefully study market characteristics, product prices, and standards to suit the market,” he suggests.
Meanwhile, Huynh Thuy Vy, member of the Executive Committee of the Vietnamese Association in India, points out that businesses must pay special attention to payment methods.
“Businesses should care about the 30% deposit payment method when signing the sales contract with their Indian counterparts,” Vy shares the experience. “After receiving and examining goods, the partners will pay the remaining 70% to avoid disputes and risks.”
According to Ambassador Pham Sanh Chau, the ongoing COVID-19 pandemic is causing difficulty in shipping the fruit to India. However, he says the Vietnamese Embassy and relevant agencies try to connect Vietnamese and Indian businesses in order to export the fruit, as well as its processed products to India.
Vietnam is one of ten friendliest countries on Earth
Vietnam has ranked ninth among the ten friendliest countries in the world, the World Population Review quoted a survey conducted by InterNations, said the Vietnam News Agency.
Photo for illustration (Source: daidoanket.vn)
Portugal topped the list.
The ranks in this survey change dramatically within a few years as many factors can greatly affect a country’s attitude towards foreign travelers or expats.
A friendly attitude with a positive view on strangers and people of other cultures has helped Vietnam to reach the top ten.
Experts believe that this rank will become one of the favourable factors for tourists to choose Vietnam for their post-COVID-19 experience, thus helping the country’s non-smoke industry revive./.
Foreign investors interest in logistics real estate in Vietnam
The local logistics sector has emerged as the most attractive segment of foreign direct investment (FDI) during the seven months of the year, the Vietnam News Agency qouted the information of industry insiders.
This comes following more than 30 real estate projects being granted investment licenses with a total value of approximately US$538 million, equal to 46.78% of total registered foreign investment throughout the reviewed period.
Photo for illustration (Source: baoquangninh.com.vn)
Singapore took the lead in terms of FDI in the logistics field with Amigos An Phu Holding Pte. Ltd investing up to US$185 million in the project of New Motion Industrial Co., Ltd in Phu Tan Industrial Park in the southern province of Binh Duong.
The purpose of this project is to manufacture radio screens and display products, along with building warehouses, factories, and offices in the industrial park.
Elsewhere, SEA Logistics Partners of Singapore poured in US$1 billion in developing logistics real estate projects which will be completed over the next four years.
In June, Sea Fund I Investment 5 Pte. Ltd were granted a license to launch the SLP Park Xuyen A logistics project worth US$54 million in order to build factories and provide warehouse services in Xuyen A Industrial Park in Long An province.
Previously, SLP Park Hai Phong Co., Ltd had decided to invest a sum of US$13 million in the SLP Park Hai Phong project in Nam Dinh Vu Industrial Park with the goal of developing warehouse rental services.
Another Singaporean investor is Emergent VN Logistics Development Pte. Ltd, an enterprise which has invested in ECPVN Binh Duong 2 Logistics Center worth US$34.4 million in Tan Dong Hiep B Industrial Park of Ho Chi Minh City.
Throughout the seven-month period, Ho Chi Minh City welcomed another large logistics project from Dutch investor BW Industrial, with total investment reaching US$80.6 million to build warehouses and provide logistics services.
Le Trong Hieu, senior director of CBRE Vietnam's Industrial Real Estate Division, said that industrial real estate investors hold a long-term vision for injecting money into the Vietnamese market, despite the negative impacts of the COVID-19 pandemic.
Most notably, new and expanded projects by investors such as Japan’s Daiwa House and China’s JD Property have been implemented in the south of the country.
According to experts, there remains a positive outlook for the Vietnamese industrial real estate market moving forward due to high demand coming from domestic enterprises along with foreign investors.
Sectors of interest include electronics, logistics, car parts, packaging, furniture, and medical equipment, all of which will continue to maintain their momentum, Hieu emphasised./.