Vietnam News Today (Apr. 13): Foreign Trade Likely to Hit New Record This Year

Daily Covid-19 infections in Vietnam in the latest week. Photo: VOV

Covid-19: Nearly 23,000 new cases recorded, recoveries 9 times higher

Vietnam recorded nearly 23,000 new coronavirus infections on April 12, but the number of patients recovering from the virus was nine times higher than the number of new cases.

Official data from the Ministry of Health show as many as 22,804 people tested positive in all 63 cities and provinces on April 12, and all of them were locally acquired cases. Of the total, more than 17,000 cases were documented in the community.

Hanoi capital topped localities in infection number, registering 1,942 cases, followed by Phu Tho, Yen, Bai, Dak Lak, Nghe An and Bac Giang that reported more than 1,000 each.

On average, 34,682 cases were recorded daily in Vietnam in the past week, the ministry said.

Notably, April 12 saw more than 202 patients recover from the disease, or nine times higher than the number of new cases.

Twenty-eight patients died of the virus and underlying illnesses during the day, including three in Quang Nam, and two each in Bac Kan, Gia Lai, Hanoi, Hai Duong, Hau Giang, and Phu Tho, cited VOV.

As of 06pm on April 12, Vietnam has documented nearly 10.3 million infections, ranking 12th out of 227 countries and territories worldwide.

Of the total, more than 8.7 million patients have recovered, and nearly 43,000 patients have died of the virus and underlying illnesses.

As many as 208.5 million Covid-19 vaccine doses have been administered nationwide.

Foreign trade likely to hit new record this year

Exports and imports reported double-digit growth in the first quarter of 2022, signaling a good year for the foreign trade.

Some experts forecast that total export-import revenue can reach a record high of US$700 billion this year so the Ministry of Industry and Trade (MoIT) has been taking drastic measures to improve how market information are being provided to exporters.

Vietnam’s foreign trade rose by US$176 billion in Q1, a year-on-year increase of 14.4 percent, according to Tran Thanh Hai, Deputy General Director of the Agency of Foreign Trade Exports alone expanded by 12.9 percent during the period.

The country enjoyed relatively high growth in agricultural product shipments, at 18 – 19 percent, he noted, adding that some key exports such as coffee, rice and aquatic products saw even higher growth of up to 50 percent.

Hai attributed the surges to great benefits brought by new-generation free trade agreements (FTAs), particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Vietnam Free Trade Agreement (EVFTA), UK-Vietnam FTA (UKVFTA), and the Regional Comprehensive Economic Partnership (RCEP).

These are FTAs between Vietnam and major trade partners and they all work out well, he said.

At Hai Phong port. Photo: VNA

As the MoIT expects foreign trade to surge by 6 – 8 percent to reach US$363 billion this year, with trade surplus maintained, it has focused on helping traders make the most of the FTAs, according to VNA.

The ministry has developed a number of websites providing information updates to domestic firms. In addition to themed websites run by Vietnamese trade offices overseas, it launched the Vietnam National Trade Repository (VNTR) at https://vntr.moit.gov.vn, which was built with the help of the UK Government, in the end of March.

It forms part of Vietnam’s moves to fulfill its commitments to ASEAN in enhancing transparency of trade policies and regulations, facilitating region trade and supporting the business community to gain broader access to information regarding trade, services and investment within the ASEAN cooperation.

The MoIT has also organized a number of virtual and in-person training courses on trade policies and FTAs and given away various handbooks, publications and materials providing instructions on how to export to China and new markets like the Middle East and Latin America.

A new handbook is expected to come out soon to instruct firms to shift from unofficial-quota to official-quota export, it revealed.

Vietnam strives to expand markets for seafood exports

Vietnam’s seafood exports made a strong recovery in the first quarter of 2022, with total revenue reaching US$2.4 billion, up 38.7% year on year. Such an impressive result was thanks to strong growth in the export of shrimp and shark catfish.

Catfish exports during the January-March period soared by 88% to 646 million USD, while shrimp exports saw decent growth in major markets such as the US, the EU, Japan, the Republic of Korea, China, and the UK.

The US remained the largest importer of Vietnamese shrimp, accounting for 21% of the total exports, while Vietnam continued to be the fourth largest provider of shrimp for the US. Vietnam’s total shrimp export revenue for 2022 is expected to reach US$4 billion, up 3%.

The Russia-Ukraine conflict has also somewhat affected Vietnam’s seafood exports, although these two markets accounted for a very small portion of Vietnam’s total exports since the conflict drove fuel prices and other input costs, hurting businesses’ profits, reported NDO.

The Russian market, for example, accounted for 3% of Vietnam’s annual seafood exports. When the conflict broke out, all exports to Russia were cancelled due to risks related to banking, a shortage of container ships and high costs. Exporters to this market are monitoring the situation to deal with stockpiles and are trying to export to other markets.

Besides Russia, exports to China are also facing hurdles due to its zero-COVID policy. Furthermore, rising fuel prices have led to higher shipping costs, which will be a long-term problem for Vietnamese exporters.

Processing tuna for export at BIDIFISCO. Photo: NDO

According to Tran Dinh Luan, Director of the Vietnam Directorate of Fisheries, exports rebounded in the first quarter but growth is not really sustainable as input costs continue to rise. In order to fulfill the set targets, Luan suggested focusing on several tasks, including stepping up efforts to address the European Commission’s yellow card warning.

To deal with the difficulties emerging from the conflict in Ukraine, the directorate will monitor the situation closely and work with trade associations and the State Bank of Vietnam to support enterprises exporting to Russia that are facing stalled financial transactions. It will also cooperate with VASEP, which represents seafood producers and exporters, to discuss measures to deal with the difficulties in the Russian and Ukrainian markets.

In 2022, the National Agro-Forestry-Fisheries Quality Assurance Department will also concentrate on addressing obstacles in exporting to China and the US so as to diversify export markets for Vietnamese seafood.

Tourism services enjoy dramatic recovery

Major tourist destinations across Vietnam were packed with holiday-makers during the three-day national break running from April 9 to April 11 to commemorate the ancestral anniversary of Hung Kings, marking the start of a strong recovery for the domestic tourism sector.

With Covid-19 impacting the country for more than two years, tourism was one of the hardest hit economic sectors. Efforts to reopen tourism services were jeopardized by subsequent waves of the virus, as well as disease prevention measures and a reluctance among tourists.

This year the situation is totally different as localities have been implementing the Government’s strategy of living safely with the virus. Localities have gradually resumed the majority of services, with tourism recovery considered as a spearhead sector in relation to the economic recovery process. The Government has also eased Covid-19 prevention and control measures to create the conditions in which people can freely participate in the tourism market.

Sam Son beach in Thanh Hoa province has become crowded over recent days packed full of visitors from various localities. Minh Hoa, a visitor from Hanoi, said she was happy to return to her favorite beach after a two-year hiatus caused by the pandemic.

“When the disease showed signs of abating, we booked the ticket immediately, and if everything is fine we plan to make longer trips to other places this summer,” said Hoa.

Meanwhile, Vung Tau city in the south which is famous for beaches with crystal-clear water attracted 37,000 holiday-makers during the three-day break, a record surge in recent years. Likewise, all lodging facilities in other tourist destinations such as Da Nang, Nha Trang, and Da Lat were fully booked, signaling a substantial recovery of local tourism services.

The tourism sector has been grappling with the Covid-19 pandemic for the past two years, especially after the Government closed its borders to international tourism in April, 2020, to focus on pandemic fight. Domestic tourism services were also impacted by subsequent waves of Covid-19. The Vietnam National Administration of Tourism (VNAT) reported that the pandemic caused a loss of VND530 trillion to the tourism sector in 2020 alone.

Tens of thousands of people have flocked to Hoi An - a UNESCO-regconized heritage site in central Vietnam during the national break on April 9-11. Photo: VOV

However, the tourism sector has started to show signs of recovery since early this year, especially after the Government gradually began to control the pandemic and reopened its borders to international tourism. VNAT statistics indicate that localities attracted 26 million domestic holiday-makers during the first quarter of the year compared to 40 million throughout the entirety of 2021.

The sector has set a target of receiving 65 million visitors, including five million foreigners, this year. The target, according to economic experts, will be achievable thanks to the sector’s post-pandemic stimulus program, along with the strong resolve from the Government, ministries, localities, and travel businesses, cited VOV.

The crowding of major tourist destinations nationwide during the April 9 to April 11 national break will serve to herald a strong recovery for the tourism sector. It represented a major test for the sector and localities especially when people enjoy a four-day national break, starting on April 30 to mark National Reunification Day and May Day. In addition, many localities are launching summer festivals to anticipate the upcoming peak tourism season.

One of the important tasks of the sector is also to attract foreign visitors who generate approximately half the sector’s revenue. While kick-starting domestic tourism campaigns, tour operators have developed plans to welcome back foreign visitors, mostly in this autumn and winter.

Travel businesses are hopeful that post-pandemic stimulus tourism policies put in place will help the tourism sector gather full steam over the course this year.

Hanoi issues plan to promote cultural, tourism image during SEA Games 31

Hanoi has announced a plan to promote the image of the nation as well as Vietnam’s culture and people of Vietnam and the capital city to international friends during the upcoming 31st Southeast Asian Games (SEA Games 31).

Along with activities to popularize the meaning of the SEA Games 31 as well as Vietnam's efforts to host the event and Vietnamese athletes, Hanoi will promote local cultural and tourist sites and increase communication on the friendship and cooperation between Vietnam, Hanoi and ASEAN countries.

Doan Mon is one of the main entrances to the Thang Long citadel. Basing on construction materials and remaining architectural style of the relics, it can be affirmed that current Doan Mon was built under Le Dynasty and restored in Nguyen Dynasty. Photo: VNA

Along with traditional media, Hanoi will use social media platforms such as Zalo and Facebook as well as the websites of local departments and districts. Local residents will also be encouraged to get involved in voluntary activities for the SEA Games 31.

Major streets in the city will be adorned with banners promoting the event, while various cultural, art and sporting activities will be held depending on the Covid-19 situation in the city, reported VNA.

Through these activities, the capital plans to highlight its socio-economic achievements as well as the economic and tourism potential Vietnam and Hanoi hold, while expanding friendship with countries in the region and the world and spreading the image of Hanoi as a “Safe-Friendly-High Quality-Attractive Destination”.

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