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| Shrimp will continue to be a key export thanks to growing demand and price recovery in the US, China, Japan, and Australia. (Photo: VNA) |
Statistics from the Ministry of Agriculture and Rural Development showed October exports reached 1.1 billion USD, bringing the total revenue for the first 10 months of 2024 to 8.33 billion USD, a year-on-year increase of 12%.
The US, China, and Japan were the three largest purchasers, accounting for 18.5%, 16.8%, and 15.4% of the market share, respectively. Among the 15 major export markets, Russia had the sharpest growth of 94.8% while Thailand experienced a decline of 10.1%.
In October alone, aquatic shipment to China saw impressive growth of 37%. Meanwhile, robust performance was also recorded in the US (up 31%), Japan (22%), the EU (27%), and the Republic of Korea (13%).
The Vietnam Association of Seafood Exporters and Producers (VASEP) said the US has consistently been Vietnam's largest importer, with annual revenues ranging from 1.5 billion to 2.1 billion USD over the past five years, despite the American market’s anti-dumping and anti-subsidy measures.
A recent preliminary countervailing duty determination by the US Department of Commerce set a rate of 2.84% for Vietnamese shrimp, lower than the 4.26% for India and the 7.55% for Ecuador, giving Vietnamese exporters a competitive advantage.
As of the end of October, Vietnam had shipped 1.5 billion USD worth of aquatic products to the US, rising 15% against the same time last year.
Notably, VASEP predicted that China could surpass the US to become Vietnam’s top aquatic product buyer if its import growth maintains at 20% in the remainder of the year.
In the meantime, the EU market shows promising signs of recovery, with exports to the bloc up 11% by October 2024. Vietnamese products have enjoyed significant advantages under the EU-Vietnam Free Trade Agreement as most raw shrimp products receive immediate duty-free status, while competitors like Thailand and India lack similar trade agreements.
VASEP communications director Le Hang said that shrimp and tra fish will continue to be the key exports thanks to growing demand and price recovery in the US, China, Japan, and Australia. She suggested local firms to take flexible measures to capitalise on market opportunities, given a shortage of domestic raw materials.
The ministry said total aquatic output neared 7.9 million tonnes in January - October, up 2.5% year-on-year. Aquaculture production exceeded 4.6 million tonnes, increasing by 3.8%, including 1.44 million tonnes of tra fish and over 1.1 million tonnes of shrimp.
Director General of the ministry’s Directorate of Fisheries Tran Dinh Luan said Vietnamese firms should pay due attention to improving product quality and reducing costs so as to gain competitive edge in the international market, elaborating such large export markets as the US, the EU, and Japan have stringent requirements on product quality, origin traceability, and food safety.
Vietnam emerges as popular travel destination for Indians
A destination which is capturing the interest of Indians like no other is Vietnam, with travel companies witnessing a significant surge in bookings to the Southeast Asian nation thanks to factors like improved flight connectivity and attractive prices, Radio the Voice of Vietnam quoted the information of The Economic Times of India.
Recent figures indicate that outbound travel bookings to Vietnam for some Indian companies were up 500% this year compared to those from 2019, whilst travel companies and carriers were looking to offer more options and to boost capacity.
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| The article on the Economic Times of India (Photo: VOV) |
According to the Vietnam National Authority of Tourism (VNAT), there were a total of 392,000 Indian visitors to the country in 2023, an increase of over threefold from 2019.
In an interview with The Economic Times, Rajeev Kale, president and country head for holidays, MICE, Visa at Thomas Cook (India), said the 500% increase in outbound travel from the Indian market to Vietnam that his company has seen since 2019 can be attributed to improved flight connectivity, frictionless travel due to e-Visas, and the influence of social media.
Furthermore, Raj Rishi Singh, chief marketing officer and chief business officer for corporate at MakeMyTrip, shared that over the past year searches for Vietnam are up 17%, adding that its affordability, combined with hassle free visa regulations and a growing number of direct flights from India are currently fueling growth among tourists from this market, whether they are seeking cultural immersion or a romantic getaway.
SD Nandakumar, president and country head for holidays and corporate tours at SOTC Travel, noted that Vietnam offers Indian travelers a wide range of culture, history, cuisine, scenic views, and multiple options for shopping to enjoy.
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Tourists in Vietnam (Photo: vneconomy.vn)
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An Indian media outlet also reported that this month, Vietnamese carrier VietJet Air announced two exclusive promotions for Indian travelers. On November 11, the airline will offer one-way economy fares between the two countries starting at Rs 5,555 or US$66 (plus taxes and fees).
The airline claims that since 2019, it has continually expanded its routes and direct connections in a bid to meet rising demand. Currently, the airline operates 68 weekly flights between the two countries connecting key Indian cities such as New Delhi, Mumbai, Ahmedabad, and Kochi to major destinations in Vietnam such as Hanoi, Da Nang, and Ho Chi Minh City.
Vietnam secures first place at 15th world bodybuilding championships
Bagging 10 gold medals, Vietnam secured the first place on the overall medal tally at the 15th World Bodybuilding and Physique Sports Championships, which took place in the Maldives from November 8-11, the Vietnam News Agency reported.
The Vietnamese team also earned five silver and 11 bronze medals, while India and Thailand finished second and third, respectively.
Vietnam sent a total of 20 athletes to the Maldives, including eight female and 12 male competitors. Notably, female bodybuilder Tran Thi Cam Tu won a gold medal in the women's up-to-1.65m fitness event.
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| Bodybuilder Le Thi Kim Cuong wins two gold medals in the Fitness and Sport Physique categories for women over 1.65m. (Photo: VNA) |
In the classic bodybuilding category for men under 1.6m, Pham Van Phuoc successfully defended his championship title.
Additionally, Tran Hoang Duy Thuan surprised many by winning a gold in the Athletic Physique category for male athletes under 1.67m.
Nguyen Thi Kim Cuong achieved remarkable successes, winning two gold medals in the Fitness and Sport Physique categories for women over 1.65m.
The tournament attracted 380 athletes from 41 countries, competing in 51 events. Vietnam had initially targeted at least eight gold medals.
Nearly 200 young tennis players compete at ITF U18-J30 2024
A total of nearly 200 young tennis players started competitions at the International Tennis Federation (ITF) sanctioned U18 – J30 2024 which opened in the northern province of Ninh Binh on November 11, according to the Vietnam News Agency.
The tournament is jointly organised by the ITF, Vietnam Tennis Federation (VTF) and the People’s Committee of Ninh Binh.
Players in the event come from 18 countries and territories in total, including Japan, China, India, the Republic of Korea, Australia and Hungary and will compete in four events of men's singles, women's singles, men's doubles and women's doubles.
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| A total of nearly 200 young tennis players take part in the International Tennis Federation (ITF) sanctioned U18 – J30 2024 in the northern province of Ninh Binh. (Photo: VNA) |
According to the tournament’s organisers, the event is a sanctioned international tourney for 2024, giving local players a chance to sharpen their skills and increase their confidence as well as positions in the country and in the world map of junior tennis.
It is also expected to promote tennis in the province and create awareness of local tourist attractions to domestic and foreign visitors. Ninh Binh was the site of filming for the Hollywood blockbuster hit King Kong, and is home to the Trang An Landscape Complex – a UNESCO-recognised World Cultural and Natural Heritage Site./.