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The Lao Bao International Border Gate of Vietnam's Quang Tri province is situated on the shared borderline with Laos. Photo: VNA

Vietnam, Laos enjoy flourishing trade ties

The special Vietnam - Laos friendship has been growing unceasingly across the board in the recent past, including in trade, which has been developing in an increasingly substantive manner.

Vietnam’s Ministry of Industry and Trade (MoIT) reported that bilateral trade has posted stable growth between 2016 and 2020, reaching the target of over US$1 billion per year.

Export and import have stayed relatively balanced, with goods traded between the two countries diversified.

At a recent working session, Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Lao Ambassador Sengphet Houngboungnuang discussed measures for strengthening cooperation in trade, industry, and energy, believed to provide an important basis for further enhancing bilateral multifaceted ties in the time to come.

To optimize development chances and overcome difficulties, especially the Covid-19 pandemic’s impacts, the MoIT has recommended enterprises of Vietnam proactively tap into advantages to boost exports to Laos, cited VNA.

Given the sound political and diplomatic relations with Vietnam, the Lao Government has also supported strongly and created optimal conditions for Vietnamese firms to invest and do business in the country.

Major investments have been poured into the energy, banking, industrial tree cultivation, and apparel production industries. Laos is also calling for more foreign investment in infrastructure development, crop production, and animal husbandry.

Thanks to this investment wave, businesses of Vietnam has opportunities to boost the export of such items as steel, transport vehicles and spare parts, machinery, equipment, fertiliser, and animal feed, the MoIT noted, adding that it has been working closely with relevant agencies to keep smooth and fruitful bilateral trading activities so as to contribute to overall Vietnam - Laos trade growth.

Hanoi prepares plans for mass vaccination scheme

Localities in Hanoi have been directed to initiate plans for an upcoming large-scale vaccination campaign in order to ensure that the move takes place on schedule in a manner which is both safe and effective.

The direction is part of a wider notice regarding local novel coronavirus (Covid-19) prevention and control measures recently issued by the municipal Party Committee.

Covid-19 vaccination. Photo: VOV

According to the document, it remains necessary to boost communication campaigns on the municipal pandemic prevention strategy, including the 5K message, the rollout of vaccines, and technology. Indeed, there should be a specific focus on the benefits of Covid-19 vaccines as a way of increasing local engagement in the imminent vaccination drive in the capital.

Furthermore, the municipal steering board for Covid-19 prevention and control has ordered the management boards of local industrial parks (IPs), the municipal Health Department, and relevant sectors to work together with authorities of districts and towns to conduct contact tracing. This is along with conducting early testing for people suspected of contracting the virus, whilst ensuring safe production at IPs, among other locations, according to VOV.

Monitoring work at concentrated quarantine facilities and areas under lockdown will be tightened and hospitals treating Covid-19 patients are urged to remain at the highest level of alertness as part of efforts to prevent cross-infection.

Vietnam wood exports to rise to new record level

Wood products exports are expected to rise to a record US$15-16 billion this year despite the impacts of the Covid-19 pandemic. They were worth US$12.5 billion last year.

They were worth US$12.5 billion last year.

According to the General Department for Agricultural Products Processing and Market Development, in the first five months they were worth US$6.6 billion, up 61.3 percent year-on-year.

Most companies have received orders for until the end of 2021, and they are 30 percent higher than in 2020.

The US is the largest market, accounting for 60.4 percent of all exports, followed by China with 9.9 percent, Japan with 9.5 percent, and the Republic of Korea with 5.7 percent.

This year the export markets for Vietnamese wood industry is expected to be excellent, experts said. Photo: haiquanonline.com.vn

Vietnam’s wood products have achieved a solid foothold in many markets around the world, highly appreciated for their design and technology, cited VNP.

With the disruption of the supply chain due to the pandemic, the world's leading distributors tend to diversify and seek safer sources, and Vietnam needs to make use of this opportunity, analysts said.

But the Ministry of Industry and Trade also warned that the rapid growth in exports comes with a concomitant risk of anti-dumping and anti-subsidy threats.

Vietnam’s wood industry is affected by trade tensions between major countries.

It has already faced anti-dumping lawsuits from the US and the Republic of Korea, especially for plywood-related commercial fraud and tax evasion. But plywood is not the only item facing a threat, the Ministry of Industry and Trade said.

Recently the US Trade Representative accused the Vietnamese timber industry of using illegal wood, and the risk of resultant trade restrictions is very high.

The Ministry of Agriculture and Rural Development has issued a decision on geographic origins and timber species risk categories. This plays an important role in controlling the legality of imported timber.

HCMC vaccinates 710,000+ against Covid-19 in a week

Medics injected 710,773 people in HCMC with the Covid-19 vaccine between June 19 and 27 in a historic vaccination campaign.

In total, 797,420 had registered to get the vaccine, though more than 13 percent missed out due to health issues or concurrent medication, Nguyen Tan Binh, director of the city’s Health Department, told a Monday meeting, reported VnExpress.

People wait in line for their turn to get the Covid-19 vaccine in HCMC, June 19, 2021. Photo: VnExpress

Of the vaccinated, 312,269 are industrial zone workers and the rest residents of high-risk areas, state workers, airport and seaport staff, along with those on the frontline of Covid prevention.

The total figure also includes 26,000 medics at private healthcare facilities, said Binh.

The city had on June 19 launched a major vaccination campaign against Covid-19, the biggest in the city and nation's history. It planned to use up 806,000 doses of the AstraZeneca vaccine within seven days. These are part of the 966,320 doses provided by Japan.

According to the municipal Health Department, of the vaccinated in the past eight days, 676 experienced post-injection reactions, of which 101 were anaphylactic. All are now in stable condition.

The city has received more than 870,000 doses so far and has launched four vaccination campaigns since March 8, when Vietnam started its mass inoculation program.

For the three previous campaigns, the city immunized more than 145,300 people, most of them medical workers.

Local fruit and vegetable sector sets export target of US$3.6 billion

Vietnam’s fruit and vegetable exports are anticipated to prosper ahead in the fourth quarter of the year and are likely to achieve the export target of between US$3.5 billion and US$3.6 billion, according to forecasts made by the Agro Processing and Market Development Authority.

The country raked in a total of US$1.77 billion from exporting fruit and vegetables during the opening five months of the year, representing an annual increase of 18%.

In terms of the Asian market, China continues to be the largest consumer of Vietnamese fruit and vegetables, accounting for over 60% of the market share, followed by the Republic of Korea (RoK), Japan, and ASEAN member countries.

Photo: VOV

Local fruit and vegetable exports to these markets therefore enjoy numerous advantages, including a large market size, huge consumption power, similar consumption habits, and a convenient geographical location for transportation.

Furthermore, the import tax rate placed on Vietnamese fruit and vegetable products has also been slashed to 0% due to the enforcement of various Free Trade Agreements (FTAs).

With regard to the European and American market, tariff commitments set out in new-generation FTAs ​​such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam FTA (EVFTA) state that import tariffs placed on fruit and vegetables will be completely abolished, cited VOV.

This move is expected to create greater opportunities for Vietnamese fruit and vegetable exports moving forward due to the country’s fruit and vegetable products in these markets still only accounting for a small proportion.

Nguyen Quoc Toan, director of Agrotrade, said that the export of fruit products such as durians, lychees, mangoes, and dragon fruit will prosper in the near future thanks to the recovery of the consumption demand in the post-pandemic period, coupled with the impact of the implementation of FTAs and trade promotion schemes.

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