US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
$61.8 million earned from shrimp exports to country in first quarter, up 30.8% y-o-y and representing a market share of 49%.
Vietnam has become the largest provider of shrimp to South Korea, with a 49 per cent market share.
The result comes one year after the free trade agreement between the two countries became effective.
In the first quarter of this year, Vietnam earned US$61.8 million from shrimp exports to South Korea, up 30.8 per cent year-on-year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s exports are subject to an import tax of just 10 per cent, unlike its competitors such as China, India, and Ecuador.
From April 1, 2018, a major change will affect Vietnamese shrimp exports to South Korea, as frozen shrimp imports will be required to be accompanied by import certificates under adjustments to the import regulations of South Korea’s National Fishery Products Quality Management Service under its Ministry of Ocean Fisheries, to protect the country’s aquatic ecosystem.
Mr. Tran Van Pham, General Director of the Stapimex company in the Mekong Delta’s Soc Trang province, was quoted by the Vietnam News Agency as saying that from April 1, 2018, the testing of seafood samples before exporting to South Korea will be implemented in Vietnam, which means Vietnamese firms will have to pay for the costly process.
To offset the costs, enterprises will lower the buying price of seafood materials, which will affect farmers and the sector as a whole, he said.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.