According to the Vietnam Association of Seafood Exporters and Producers (VASEP), white-leg shrimp exports made up the majority (at 81%) earning US$1.7 billion, up 23% year on year, while black tiger shrimp exports accounted for just 15%, raking in US$325 million, down 1% compared to the same period from last year.
Most notably, due to tariff incentives through the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), shrimp exports to several markets have maintained double digit growth rates of between 15% and 34%.
Japan remains the largest importer of Vietnamese shrimp and black tiger shrimp products in particular, with a total export value of US$350.4 million, marking an annual rise of 6.3%.
Meanwhile, seven-month shrimp exports to both Australia and the EU soared by 75% and 26% to US$106.3 million and over US$320 million, respectively.
Moreover, Vietnamese shrimp exports to the United States reached US$584.6 million, an annual rise of 34%.
Though Russia is a major export market for Vietnam, shrimp exports to the Eastern European nation continued to record an impressive growth rate of up to 87%.
Elsewhere, China was the only importer of Vietnamese shrimp that posted negative growth of 19% throughout the reviewed period.
Experts believe that shrimp exports to major markets ahead in the remaining months of the year will largely be dependent on the country’s COVID-19 containment efforts.
US investors pin high hopes on Vietnamese market
US companies are seeing Vietnam as a "land of hope" following US Vice President Kamala Harris's visit to the Southeast Asian nation from August 24-26, reported the Vietnam Investment Review.
Illustrative photo (Source: baodautu.vn)
Chad Ovel, Chairman of the American Chamber of Commerce in Vietnam in Ho Chi Minh City (AmCham Vietnam-HCMC) said Harris choosing Vietnam for her first visit to Asia showed the US appreciates security cooperation and economic partnership with Vietnam.
Many US-based conglomerates like Pfizer, Abbott Laboratories, Intel, Qualcomm, UPS, and Mastercard are increasing their investment in Vietnam with optimism about the market.
Russell Reed, Managing Director of UPS Thailand & Vietnam, considers Vietnam among the fastest growing market in the region which opens up potential import-export opportunities amid the rise of digital economy and trans-border e-commerce. UPS have been invested in Vietnam for over 25 years.
The Vietnamese Government supports extensive international economic integration and foreign investment, Reed said, pointing to the nation’s signing of the EU-Vietnam Free Trade Agreement (EVFTA) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The UPS is looking for Vietnam’s ratification of the Regional Comprehensive Economic Partnership (RCEP) in late 2021, he added.
Winnie Wong, Country Manager of Mastercard in Vietnam, Cambodia and Laos, said Vietnam is a key market in the company’s development plan. Mastercard is committed to building a cashless market in Vietnam, she noted.
Recently, Vietnamese conglomerate Vingroup has signed an agreement with Arcturus Therapeutics Holdings Inc. of the US on the transfer of COVID-19 vaccine production technology.
With a capacity to manufacture 200 million doses per year, Vingroup is projected to produce the first batches of vaccine by early 2022.
Under the agreement, the US firm will grant permission ot Vingroup’s affiliate VinBioCare to produce COVID-19 vaccine named VBC-COV19-154, which is effective against new variants of the coronavirus such as Delta and Alpha. The Vietnamese company is also approved to manufacture other COVID-19 vaccine types of Arcturus like ARCT-021.
The American Apparel & Footwear Association, which represents over 1,000 retailers and producers, has just sent to US President Joe Biden a letter calling for increasing vaccine distribution for Vietnam.
Meanwhile, AmCham has been actively proposing the Biden administration make Vietnam a prioritised recipient in its vaccine sponsorship programme.
US hands over donated Pfizer vaccine to Vietnam
A shipment of 770,000 doses of the Pfizer COVID-19 vaccine donated by the United States has arrived in Vietnam, according to the Office of Vice President Kamala Harris.
Vice President of the United States Kamala Harris visits the National Institute of Hygiene and Epidemiology in Hanoi on August 26. (Photo: Twitter/Jenny Leonard)
Harris revealed the information during her call at the National Institute of Hygiene and Epidemiology (NIHE) in Hanoi on August 26, reported VOV.
The NIHE received 270,000 doses on August 26, while 500,000 doses were transferred to Ho Chi Minh City the day before.
Harris announced on August 25 the United States has decided to donate approximately 1 million doses of the Pfizer vaccine to Vietnam.
The remaining 270,000 doses are scheduled to be delivered to Hanoi on August 27.
The US has so far donated 6 million doses of COVID-19 vaccines to Vietnam, including five million doses of Moderna channelled through COVAX.
According to the Ministry of Health, Vietnam recorded 12,096 new COVID-19 cases, including 12,093 domestic and three imported, in the past 24 hours to 6pm on August 25, the Ministry of Health announced.
Ho Chi Minh City, which is the current largest pandemic of the country, logged the highest number of cases with 5,294 infections. It was followed by Binh Duong, with 4,129 infections.
Vietnam has so far logged 381,363 infections, ranking 66th out of 222 countries and territories in the world. In terms of infection rate, Vietnam is placed 168th with an average of 3,879 cases per 1 million people./.