Planes park at Tan Son Nhat International Airport in Ho Chi Minh City (Photo: VNA)
On February 15, the Civil Aviation Authority of Vietnam (CAAV) sent notifications to foreign aviation authorities and issued a notice to airmen (NOTAM) to airlines to inform about the removal of restrictions on regular and charter international flights.
So far, international air routes to 20 countries and territories have been reopened, namely Cambodia, Hong Kong (China), Japan, the Republic of Korea, Malaysia, the Philippines, Qatar, Singapore, Taiwan (China), Thailand, Turkey, the UAE, Laos, China, France, Germany, the UK, Australia, Russia, and the US.
Eight others to which air routes haven’t been resumed consist of Brunei, India, Indonesia, Myanmar, Macao (China), Finland, Italy, and Switzerland, Tran Bao Ngoc, Director of the Transportation Department at the Ministry of Transport (MoT), told a press meeting on February 22.
Vietnam reopens international air routes to 20 countries and territories (Source: VOV)
There are currently 370 international flights from/to Vietnam per week each way, compared to 4,185 in the 2019 winter flight schedule, he noted.
Meanwhile, six carriers, namely Vietnam Airlines, Vietjet Air, Pacific Airlines, Bamboo Airways, Vietravel Airlines, and Vasco, are operating 56 domestic air routes with 2,570 flights per week each way, down two routes and 217 flights from the flight scheduled in the 2019 winter.
Road and railway transport has basically come back to normal, but the passenger traffic hasn’t recovered due to concerns about the pandemic, Ngoc added.
Export-import turnover hits 21.41 bln USD in first half of February
According to the General Department of Vietnam Customs, export-import turnover hit 21.41 billion USD in the first half of February,
The country raked in 8.75 billion USD from exports in the period.
Three groups of commodities recording the highest export turnover were phones and components; computers, electronic products and components; and machinery and equipment.
Meanwhile, Vietnam spent 12.66 billion USD on imports during this period, with the two groups valued at over 1 billion USD being computers, electronic products and components; and machinery, equipment, tools, and spare parts.
As of February 15, the country’s total import-export turnover reached 81.68 billion USD, the department said.
As a result, Vietnam posted a trade deficit of nearly 4 billion USD in the first half of February, and 2.5 billion USD in the period from the beginning of the year to February 15.
Petrol prices rise to all time-high
The retail prices of petrol and oil continued to witness an increase as of 3 p.m. on February 21 following the latest price review jointly conducted by both the Ministry of Industry and Trade and the Ministry of Finance.
Petrol prices rise to all time-high (Source: VOV)
This marks the fifth consecutive hike in petrol prices and is the fourth increase in 2022.
The latest review sees the price of E5RON92 biofuel go up by VND961 to a maximum of VND25,531 per litre, while the price of RON95-III edged up slightly by VND965 to VND26,285 per litre, reported VOV.
Elsewhere, the prices of diesel 0.05S and kerosene were capped at VND20,800 per litre and VND19,500 per litre.
Furthermore, Mazut 180CST 3.5S is to be sold at no more than VND17,930 per kilogram.
Moreover, the two ministries also decided to use VND250 per litre from the petrol price stabilisation fund for E5RON92, with VND400 per litre being used for diesel. In addition, that of mazut is VND300 per kilogram.
Both the Ministry of Industry and Trade and the Ministry of Finance are now in the process of reviewing and adjusting domestic petrol and oil retail prices every 10 days on a par with global market fluctuations.
Cashew sector forecast to enjoy export growth in 2022
The cashew nut export target of US$3.8 billion for this year set by the Ministry of Agriculture and Rural Development (MARD) may be achievable given the forecast of high demand for the product in the near future, VNA reported industry experts.
The enforcement of major free trade agreements (FTAs) such as the EU-Vietnam Free Trade Agreement (EVFTA), the UK-Vietnam FTA (EVFTA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has also brought about more chances for local products to access the European, America, and Chinese markets.
According to the Vietnam Cashew Association (Vinacas), the cashew nut market is predicted to witness an annual surge of 4.6% throughout the 2021 to 2026 period. In terms of Vietnam, the market is expected to hit US$7 billion in 2025.
Cashew sector forecast to enjoy export growth in 2022
At present, the country is currently the top exporter of cashew nut in the world.
Last year represented a successful year for the Vietnamese cashew sector with an export volume of 579,800 tonnes and a value of US$3.64 billion, annual rises of 12.6% and 13.3 %, respectively.
The highest growth in terms of cashew export earnings was seen in the African market with 35%, followed by the Asian market with 24%. In addition, Vietnamese cashew took 22% of the market share in Europe and 23% in the United States, and even 89% in the Chinese market.
A Vinacas representative said that the country is able to make use of advantages from the EVFTA and the CPTPP as it strives to bolster cashew exports.
In order to complete orders from Europe, the US, China, and Africa, local cashew producers and processors are advised to make careful preparations, especially in materials, with domestic supplies currently meeting only one third of the processing demand.
Dang Hoang Giang, general secretary of Vinacas, said that the target of US$3.8 billion in cashew exports for this year given by the MARD can serve as a motivation for local firms to speed up their production, but will also put pressure on them due to the material sources.