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The Star
17 hours ago
- Business
- The Star
Vietnam's exports of wood and wood products continue to grow
The export value of wood and wood products in the first six months of this year reached US$8.21bil. — VNA/VNS HO CHI MINH CITY: In the face of global trade turbulence caused by sudden tariff changes in the United States and shifts in global supply chains, exports of Vietnam's wood and wood product have managed to maintain positive momentum. However, the industry is still confronting mounting challenges that demand adaptability and proactive efforts to build domestic resilience. According to the Agriculture and Environment Ministry, the export value of wood and wood products in the first six months of this year reached US$8.21bil, representing an increase of 8.9% compared with the same period last year. The United States remained Vietnam's largest export market, accounting for 55.6% of the total export turnover. Japan and China followed with market shares of 12.6% and 10.4%, respectively. Despite the persistent pressure of tariffs in its key market, the sector continued to demonstrate strength, remaining among the top five agricultural groups with the largest trade surplus. The trade surplus for wood and wood products reached 169.5 trillion dong or about US$6.5bil, a rise of 6.7% year-on-year. Phung Quoc Man, chairman of the Members' Council of Bao Hung Co Ltd and president of the Handicraft and Wood Industry Association of Ho Chi Minh City, said that although the US market was affected by new minimum and countervailing tax regimes, Vietnam's export performance in the first half of this year exceeded expectations. Exports to the United States still managed to grow by roughly 6%, partly due to clients boosting inventory levels ahead of expected tariff enforcement. Man noted that the countervailing tax policy imposed by the United States, though unexpected, was applied broadly to many exporting nations, not exclusively Vietnam. As a result, even though the cost of goods increased, US importers were compelled to continue placing orders to maintain their supply chains and meet demand from customers. — Viet Nam News/ANN
The Star
2 days ago
- The Star
Recovered body in Vietnam's Ha Long Bay identified as boat accident victim
Authorities bring the body found in Ha Long Bay ashore for identification. - Photo: VNA/VNS HANOI: A male victim of last weekend's fatal tourist boat accident was recovered from Ha Long Bay on Tuesday (July 22), according to the Quang Ninh Provincial People's Committee. Local authorities on Tuesday afternoon confirmed he was a victim of the tourist boat Vinh Xanh 58 accident, following postmortem analysis and identification at Bai Chay Hospital. Search and rescue forces found him in an area between Bai Chay Beach and Dau Go Cave, near the waters where the vessel capsized on July 19. Vinh Xanh 58 was on a sightseeing tour with 49 people on board in Ha Long Bay when it was hit by a sudden thunderstorm and overturned in strong winds and rough seas. Only 10 people survived the accident, while two people remain missing. Identified bodies have been handed over to their families for funeral services. The search mission has been hindered by Typhoon Wipha, which made landfall in northern Vietnam on Tuesday morning. - Vietnam News/ANN
The Irish Sun
5 days ago
- The Irish Sun
At least 3 dead after tourist boat with 53 people on board capsizes in Vietnam as rescuers scramble to find survivors
AT least three people have died after a tourist boat capsized in a popular Vietnam beauty spot. The boat had 53 people - including five crew members - on board for a tour of Halong Bay when a "sudden gust of wind" flipped the vessel. 2 The boat had 53 people - including five crew members - on board Credit: VNA/VNS Photo 2 Several bodies have been recovered so far after the tourist boat capsized Credit: VNA/VNS Photo Rescue teams have found 12 survivors and recovered three bodies so far, the People's Army Newspaper said. Pictures from the scene show rescue boats surrounding the capsized vessel - with divers scrambling to find survivors. It's understood at least three tourists were rescued by a passing boat. Authorities have not yet shared details about the nationalities of the tourists - and rescue operations are ongoing. The accident occurred at approximately 2pm local time - shortly after Storm Wipha hit the South China Sea, battering the area with strong winds, heavy rainfall, and lightning . It's the third typhoon to hit the South China Sea this year - and it was set to make landfall along Vietnam's northern coast early next week. Halong Bay - situated roughly 125 miles northeast of Hanoi - attracts tens of thousands of visitors every year. Many of them take overnight boat tours. Most read in The US Sun This is a developing story... The Sun is your go to destination for the best celebrity news, football news, real-life stories, jaw-dropping pictures and must-see video. Download our fantastic, new and improved free App for the best ever Sun Online experience. For iPhone click Like us on Facebook at
Scottish Sun
5 days ago
- Scottish Sun
At least 3 dead after tourist boat with 53 people on board capsizes in Vietnam as rescuers scramble to find survivors
The accident happened as the South China Sea is whipped by strong winds and heavy rainfall BOAT DISASTER At least 3 dead after tourist boat with 53 people on board capsizes in Vietnam as rescuers scramble to find survivors Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AT least three people have died after a tourist boat capsized in a popular Vietnam beauty spot. The boat had 53 people - including five crew members - on board for a tour of Halong Bay when a "sudden gust of wind" flipped the vessel. Sign up for Scottish Sun newsletter Sign up 2 The boat had 53 people - including five crew members - on board Credit: VNA/VNS Photo 2 Several bodies have been recovered so far after the tourist boat capsized Credit: VNA/VNS Photo Rescue teams have found 12 survivors and recovered three bodies so far, the People's Army Newspaper said. Pictures from the scene show rescue boats surrounding the capsized vessel - with divers scrambling to find survivors. It's understood at least three tourists were rescued by a passing boat. Authorities have not yet shared details about the nationalities of the tourists - and rescue operations are ongoing. The accident occurred at approximately 2pm local time - shortly after Storm Wipha hit the South China Sea, battering the area with strong winds, heavy rainfall, and lightning. It's the third typhoon to hit the South China Sea this year - and it was set to make landfall along Vietnam's northern coast early next week. Halong Bay - situated roughly 125 miles northeast of Hanoi - attracts tens of thousands of visitors every year. Many of them take overnight boat tours.
The Star
16-07-2025
- Business
- The Star
Laos secures US$2.8mil from Lancang-Mekong Cooperation Special Fund to finance development projects
Laos' Deputy Minister of Foreign Affairs Maythong Thammavongsa shakes hands with the Chinese Ambassador to Laos Fang Hong after signing an agreement on Tuesday. - Photo: VNS VIENTIANE: Laos and China have signed a new cooperation agreement under the 2025 Lancang-Mekong Cooperation (LMC) Special Fund, with Laos securing funding for 10 development projects worth a total of US$2,823,600. The agreement was signed on Tuesday (July 15) at the Ministry of Foreign Affairs in Vientiane by Deputy Minister of Foreign Affairs Maythong Thammavongsa and the Chinese Ambassador to Laos, Fang Hong. The 10 projects cover a range of priority development areas including human resource development, agriculture, water resources, public health, and poverty eradication, the Lao Ministry of Foreign Affairs said in a press release. These initiatives will be implemented at both the central and local levels, aiming to boost socio-economic growth, strengthen institutional capacity, and improve the well-being of targeted communities in line with LMC's framework. The LMC promotes peace, shared prosperity, and sustainable development in the Mekong countries comprising Laos, Cambodia, Myanmar, Thailand, Vietnam, and China. LMC Special Fund, established by China in 2016 and implemented from 2017, serves as a key financial instrument to translate the cooperation vision into practical outcomes. Since its inception, Laos has received 90 projects worth over US$23 million through the Fund, with implementation yielding concrete and measurable results. During the agreement signing ceremony, Lao and Chinese officials expressed confidence that the new batch of 2025 projects will continue to enhance socio-economic development across the Mekong subregion. They also affirmed their commitment to strengthening ties within the Lancang-Mekong Cooperation framework, which plays a vital role in addressing regional challenges and advancing broader goals such as the Asean Community Vision, the Belt and Road Initiative (BRI), South-South Cooperation, and the United Nations 2030 Sustainable Development Goals. The Ministry of Foreign Affairs reaffirmed its appreciation for China's continued support and partnership, highlighting the importance of the Lancang-Mekong Cooperation Special Fund as a platform for practical, inclusive, and mutually beneficial cooperation. - Vientiane Times/ANN
