A subsidiary of Truong Hai Auto Corporation has earned a revenue of $500,000 from first shipment of bananas to China.
Several years ago, the Vietnamese company Dai Hanh Phuc allegedly sold animal products to Ting Hsin, a Taiwanese food firm. Dai Hanh Phuc did not obtain the proper food safety conditions certificate, and resulting criminal case against Ting Hsin eventually saw the company’s chairman sentenced to 15 years in prison.
Phuc Sinh Corporation strongly moved into the coffee sector with the investment on high standard factory in Son La province and development of coffee products called K Coffee.
Vietnam Manufacturing Purchasing Managers’ Index (PMI) in September shows the first reduction in output prices in 13 months, slower rises in output, new orders and employment but business confidence rebounded from August’s low.
By September 20, 2018, foreign direct investment (FDI) disbursed $13.25 billion, up 6 per cent over the same period of 2017.
To ensure smooth and efficient operation of the EU-Vietnam Free Trade Agreement (EVFTA) after the two sides finished the legal review process, both are actively resolving the final stages of this agreement which is expected to be signed by the end of this year.
Vietnam develops but does not follow the value chain and the way economy grows in the future, whilst building many roads does not bring efficiency, according to experts.
A favorable economic environment and increasing demand for their products are seen as the top growth factors for cross-border trade among Vietnamese companies, according to a report just released by the UK headquartered HSBC Bank.
According to economist Dr. Nguyen Duc Thanh the requirement to have red seal from Vietnam Food Association before exporting rice should be removed.
It is expected that Nutifood will gain US$100 million in annual revenue from American market after next five years.
