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Vietnamese fruits have successfully penetrated several demanding markets
(Photo: congthuong.vn)
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The media outlet noted that roughly half a century ago, Vietnamese families could only dream of having a sufficient amount of food to eat, with the local population facing dreadful famines and malnutrition. It may therefore be unthinkable for some members of older generations that one day people would be able to sufficiently provide for themselves and would be able to regularly consume nutritious, tasty, and safe food, said Radio the Voice of Vietnam.
China has been the country’s largest importer for years, although shipments to the northern neighbour have recently endured a downturn as a consequence of its stricter rules placed on imported food. Indeed, Vietnamese fruit and vegetables have enjoyed strong growth in other major markets, such as the United States, the Republic of Korea, Japan, and Australia.
The newswire outlined that many exporters are currently turning their eyes to European markets where their products enjoy a 0% tax rate under the EU-Vietnam Free Trade Agreement (EVFTA), with these markets seeing increasing demand for tropical fruit and vegetables, it reported.
The media outlet cited data compiled by the General Department of Vietnam Customs as saying that Vietnamese fruit and vegetable export turnover to Europe in 2021 hit US$303 million, up 17.4% year on year.
Vietnam also earned roughly US$2 billion from fruit and vegetable exports during the first seven months of the year.
According to the article, negotiations are also underway for other fresh Vietnamese fruits to enter new markets, and many localities are preparing growing areas and material sources in order to seize upon these opportunities
The Mekong Delta province of Tien Giang, the country’s largest fruit-growing province, is seeking to expand plantations to help increase farmers’ incomes and exports. Recent years has seen the province turn a lot of unproductive rice fields and other locations into high-value orchards that can adapt to saltwater in rivers as well as events such as droughts.
Similarly, the Central Highlands province of Gia Lai has made passion fruit one of its key farm products and has unveiled its plans to increase its passion fruit plantations to 20,000ha by 2025, marking a five-fold surge from the current area.
To ensure sustainability of fruit exports and to further penetrate into traditional and even high-end markets, safe production is a vital factor, which will amplify the country’s agricultural strengths in order to reinforce its position as one of the world’s major fresh fruit exporters, the article said.
VietinBank awarded world’s best foreign exchange provider for 2022
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has won the title of the world’s best foreign exchange provider for the fifth consecutive year by prestigious magazine Global Finance.
Recent years have seen the foreign exchange service of VietinBank record strong growth with great capacity and an outstanding quality of service, said Radio the Voice of Vietnam.
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A customer at Vietinbank (Photo: VOV)
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In 2021 the bank’s foreign exchange turnover ramped up by more than 25%, and its profit soared by 30% compared to 2020. As of August, the bank was among the top two in the domestic market in terms of its foreign exchange turnover and profit. At present VietinBank is leading the interbank market for its foreign exchange market share.
Furthermore, VietinBank is considered as a prestigious partner among clients, as the number of new clients grows annually by over 10%.
Global Finance is a monthly magazine founded in 1987 by publishing entrepreneurs Joseph Giarraputo and Carl Burgen. Its headquarters are based in New York, with offices in London and Milan. Global Finance magazine has a circulation of 50,050, with readers in 163 countries.
Each year Global Finance selects the best financial institutions from around the world, and its awards have since become a recognised and trusted standard of excellence.
China set to increase agricultural imports from Vietnamese market
China will move to increase imports of agricultural products from Vietnam and ensure smooth customs clearances occurs at border gates, Chinese media quoted Premier Li Keqiang as saying in a recent phone talk with his Vietnamese counterpart Pham Minh Chinh.
According to Radio the Voice of Vietnam, in a recent phone talk with Vietnamese Prime Minister Pham Minh Chinh, Chinese Premier Li Keqiang noted that the northern neighbour is willing to expand economic and trade co-operation with the country and will also increase direct flights between both sides as a means of facilitating people’s travel.
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China is anticipated to increase agricultural imports from Vietnamese market in the time ahead (Photo: VNA)
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China represents a large market with strong purchasing power, with Chinese consumers especially keen on agricultural products, while Vietnamese agricultural exports enjoy plenty of advantages in terms of taste compared to those of China.
For many years, China had been the largest consumer of Vietnamese fruits and vegetables, which accounted for nearly 65% of the northern neighbour's fruit exports throughout the first four months of last year, according to data compiled by the Ministry of Agriculture and Rural Development.
Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said China remains the leading consumer of Vietnamese dragon fruit, accounting for 80% of total exports, adding that dragon fruit made up a third of Vietnamese fruit and vegetable exports worth US$3.27 billion last year.
Despite these strong figures, the Chinese market has recently recorded several changes in terms of its import policy, with the application of stricter regulations relating to product quality, food safety, and traceability.
Last year saw total bilateral trade between the two sides reach US$234 billion, accounting for over 26% of China's trade with ASEAN.
Trade activities between the Chinese side and the nation have witnessed growth since the implementation of the Regional Comprehensive Economic Partnership (RCEP), which came into force on January 1.
RCEP is widely considered to be the world's largest free trade agreement that involves 15 member countries, comprising almost a third of the global population and some 30% of global gross domestic product.
Vietnam’s Cuc Phuong Park named Asia's Leading National Park
Cuc Phuong National Park in Vietnam’s northern province of Ninh Binh, has won the ‘Asia's leading national park’ category of the World Travel Awards 2022, according to a recent announcement by the Vietnam Administration of Forestry.
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Vietnam’s Cuc Phuong park (Photo: disantrangan.vn)
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This marks the 4th consecutive time since 2019 that Cuc Phuong has been honoured with the title.
Established in 1962, the 22,000-hectare forest stretches across three provinces: Ninh Binh, Hoa Binh and Thanh Hoa. Cuc Phuong National Park is home to more than 2,200 kinds of plants, nearly 2,000 insect species, 122 different reptiles and amphibians, 66 species of fish, and 135 distinct mammals, reported by the Nhan Dan newspaper.
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Vietnam’s Cuc Phuong park (Photo: baotainguyenmoitruong.vn)
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Just over 100km from Hanoi, the park can be explored on foot or by motorbike or bicycle and is best travelled over two or three days.
The park is also rewarded by Mother Nature with karst mountain ranges, scenic lakes, rice fields and beautiful caves such as Son Cung, Pho Ma Giang, Dang, and Con Moong. Notably, vestiges of prehistoric people dated to 7,500 - 12,000 years ago have been found in some of the caves./.