A prominent issue for many Vietnamese businesses concerns the proposed narrowing of the 0 per cent VAT rate for export services.
Coffee prices have been steadily increasing over the past few months, leading export businesses to incur significant losses in order to fulfill orders.
Signs are now suggesting that it may be time for Vietnam’s external sector to brace for a bumpy road ahead, according to HSBC’s latest report.
For 2021, Siam Cement Group (SCG) in Vietnam reported revenue from sales of over $1,500 million, which is a 32 per cent increase year on year mainly from sales from new acquisition of Packaging, VKPC operation and chemicals operation (TPCVINA), as well as export sales from Thailand and ASEAN to Vietnam.
Despite rising trade protectionism worldwide, Vietnam continues to set new export records and has emerged as the next manufacturing hub, CBRE said.
A possible deceleration in 2020 growth of Vietnam's main export markets would weigh on its growth.
The US-based media service provider has expressed its desire to strengthen its footing in the country through proper investments in human resources and film coproduction for export purposes.
Vietnam has a rather similar export manufacturing capacity with China and this is helping the nation take over some of China’s key export items to the US as the US-China trade war is escalating, according to Fiingroup.
Clinker and cement sales fell 0.5 per cent in the first four months through April as a result of slowdown in domestic market and exports.
The strong commitment to an open, fair and rules-based trade of the EVFTA will further widen export markets for Vietnam, especially in textile and garment, agriculture and fishery, and wood furniture, says HSBC Vietnam CEO Pham Hong Hai.
Being the first confectionery producer in Vietnam to get FSSC 22000 in late 2018, PAN Food Manufacturing is now confident to export its food products to highly demanding markets like Japan, expecting to boost its overall exports by 40 per cent this year.
Samsung Vietnam has carried out necessary procedures to kick off its R&D centre project in Hanoi. Once completed, it is going to be the largest R&D facility in Southeast Asia.
Utilising modern farming and disease control methods, effective new varieties and efficient post-harvest systems is the key to help improve quality of Vietnam’s dragon fruit for export purpose.
Vietnam is rolling up its sleeves to solve the issue of illegal, unreported, and unregulated (IUU) fishing to boost fisheries export to the European Union.
