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The Star
2 days ago
- Climate
- The Star
Vietnam flash flood kills five, dozens evacuated
Authorities searching for two missing people in Chieng So Commune, in Son La Province on July 28, 2025. — VNA/VNS HANOI: A weekend flash flood in Vietnam's mountainous north killed five people, authorities said Tuesday (July 29), while another person remains missing after the deluge. Heavy rains triggering flash floods were reported Saturday night in Son La province, destroying 22 houses, damaging scores more and forcing dozens of families to evacuate, the agriculture ministry said Tuesday. Three bodies were recovered on Monday, a ministry statement said, adding to two others already found dead in the aftermath, with the search for another person still continuing. More than 445 acres (180 hectares) of crops and 2,600 cattle and poultry were also swept away. Vietnam is prone to tropical storms, which often cause deadly flash floods and landslides. Human-driven climate change is causing more intense weather patterns that can make destructive floods more likely. Last week, Tropical Storm Wipha killed three people and flooded nearly 4,000 homes in the country's central Nghe An province. A sudden whirlwind and abnormal weather pattern overturned a tourist boat in Vietnam's Unesco area of Ha Long Bay on July 19, killing 39 people, including several children. And in September 2024, Typhoon Yagi devastated northern Vietnam, leaving 345 people dead and causing an estimated economic loss of US$3.3 billion. - AFP
The Star
18-07-2025
- Health
- The Star
Vietnam warns of food supply disruptions as African swine fever spreads
A resident in Quang Ngai Province disinfects pig pens following an outbreak of African swine fever. — VNA/VNS HANOI: African swine fever outbreaks are spreading in Vietnam, threatening to disrupt food supplies in the country, the government warned on Friday (July 18). Vietnam has this year detected 514 outbreaks in 28 out of 34 cities and provinces nationwide, the government said in a statement, adding that the authorities have culled more than 30,000 infected pigs. "The risk of African swine fever is on a rising trend, negatively affecting the pig farming industry, food supplies and the environment," the government said. African swine fever has disrupted the global pork market for years. In the worst outbreak over 2018-19, about half the domestic pig population died in China, the world's biggest producer, causing losses estimated at over US$100 billion. The recent outbreaks in Vietnam have prompted Prime Minister Pham Minh Chinh to send an urgent directive to provinces and government agencies this week to deploy measures to curb the disease. Vietnam in 2023 approved the domestic commercial use of its first home-grown African swine fever vaccines, but officials said the rate of vaccinated pigs remains low. "Only around 30% of the pigs in my province have been vaccinated," said an animal health official of Quang Ngai province, where infections have been reported over the past few weeks. "It's not clear why the rate is low - it could either be the issue of vaccine availability, efficiency or cost," said another provincial official, who declined to be named as the person is not authorised to speak to the media. The agriculture ministry's Department of Animal Health didn't respond to Reuters' request for comment. Calls to AVAC Vietnam JSC, the country's main African swine fever vaccine producer, went unanswered. AVAC said last month it had sold 3 million vaccine doses in the domestic market and exported 600,000 doses to the Philippines and Indonesia. - Reuters
The Star
27-06-2025
- Business
- The Star
Global uncertainty weighs on Vietnam's economic outlook
Dragon fruit prepared for export in Bình Thuan Province. Vietnam's economic outlook is heavily dependent on the outcome of trade negotiations. — VNA/VNS HANOI: Vietnam's economic outlook is heavily dependent on the outcome of trade negotiations and is constrained by elevated global uncertainty on trade policies and economic growth, according to an International Monetary Fund (IMF) team led by Paulo Medas. The team has concluded discussions for the 2025 Article IV consultation with Vietnamese authorities from June 11 to 24. According to the IMF team, high tariffs will likely take effect in the third quarter. In such a scenario, economic growth is projected to slow to 5.4 per cent in 2025 and decelerate further in 2026. However, if global trade tensions subside, the economic outlook would improve significantly. 'Downside risks are high. A further escalation in global trade tensions or a tightening of global financial conditions could weaken further exports and investment,' Paulo said. Domestically, financial stress could re-emerge from tighter financial conditions and high corporate indebtedness, he added. On the upside, achieving non-discriminatory trade agreements and successfully implementing planned infrastructure and structural reforms could significantly boost medium-term growth. 'Given the uncertain outlook, policy priorities should focus on preserving macro-financial stability while navigating economic adjustments. Fiscal policy, supported by a low level of public debt, should take the lead in cushioning the near-term impact, especially under downside scenarios. Accelerated implementation of public investment and strengthening social safety nets would be important,' he stressed. He pointed out that monetary policy has much more limited room and should be decisively focused on anchoring inflation expectations. Allowing the exchange rate flexibility will be critical as the economy adjusts to the external shock. Some monetary easing could be considered if global interest rates decline as expected and inflation falls. Vigilance is needed to monitor and act against inflation pressures that may arise, including due to external shocks. These challenges underscore the importance of modernising the monetary policy framework to enhance its effectiveness and anchor stability, including by replacing credit growth limits with an improved prudential framework. 'Further efforts are needed to strengthen financial sector soundness. To bolster banking system resilience, priorities include strengthening bank supervision, build liquidity and capital buffers, and further improving the bank resolution framework,' he said. 'The Government's plans for an ambitious reform agenda are very welcome and could boost medium-term growth, but implementation will be key.' — Vietnam News/ANN
The Star
24-06-2025
- Business
- The Star
Vietnam becomes Singapore's 8th largest export market
Electronic components for export are produced at Tu Ha Industrial Park, Huong Tra Township in Hue City. — VNA/VNS HANOI: Vietnam ranked as the eighth largest export market of Singapore with an export turnover of more than 11.7 billion SGD (US$9.06 billion) in the first five months of this year, four places higher than that of the same period last year, according to the Vietnamese Ministry of Industry and Trade. The ministry cited data from Enterprise Singapore, which said that last month, total import-export turnover between the two countries reached more than 3.16 billion SGD, up 27.76 per cent year-over-year. Exports from Vietnam to Singapore continued to grow well with a turnover of 869.3 million SGD, up 27.1 per cent, while import turnover grew by 28.02 per cent, reaching nearly 2.3 billion SGD. In the first five months of the year, the two-way trade turnover reached more than 16.23 billion SGD, 28.07 per cent higher than that of the same period last year. Of that, Vietnam's exports to Singapore increased sharply, by 37.7 per cent, reaching nearly 4.53 billion SGD and its imports reached more than 11.7 billion SGD, up 24.7 per cent. More than 94.4 per cent of the commodities that Vietnam exported to Singapore last month belonged to the group of machinery, equipment, mobile phones, components and spare parts of all kinds. Meanwhile, the other two main export groups - the group of reactors, boilers, machine tools and spare parts of the above machines; and the group of glass and glass products - only increased slightly or decreased. Some other export groups also had very strong growth such as alcohol and beverages (up 104.48 per cent); optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up more than 52.58 per cent); and plastics and plastic products (up more than 48.43 per cent). On the contrary, some groups had quite strong declines, such as salt, sulfur, soil and stone, plaster, lime and cement (down 25.29 per cent) and aquatic products (down 17.85 per cent). Regarding imported goods from Singapore to Vietnaam, in May, the group of machinery, equipment, mobile phones, components and spare parts of all kinds increased by 61.28 per cent and the group of reactors, boilers, machine tools and equipment and spare parts of the above machines increased by 92.44 per cent. Meanwhile, the group of gasoline and petroleum products decreased by 12.28 per cent. — Vietnam News/ANN
The Star
28-05-2025
- Business
- The Star
Vietnam tuna exports to halal markets rise, but more supporting policies needed
Vietnamese fishermen unload ocean tuna. - VNA/VNS HANOI: The Vietnam Association of Seafood Exporters and Producers (Vasep) said that the country's tuna exports to Halal markets such as the Middle East, Malaysia, Brunei are on the rise. The association believes that the halal market is a great opportunity for the tuna industry. Specifically, the country's tuna exports to the Middle East have been on the rise in the past four years. Export turnover to this market has increased from US$83 million in 2021 to $113 million last year, an increase of 35 per cent. Although geopolitical instability has affected tuna exports to the Middle East market, this market block is still highly appreciated as a potential market for Vietnamese tuna. Tuna exports to other halal markets such as Malaysia and Brunei are also increasing, by 36 per cent and 24 per cent respectively last year. Currently, more than two billion Muslims live in 112 countries and territories, accounting for 25 per cent of the world's population, concentrated in Asia (62 per cent), especially in the Asean bloc. The Asia-Pacific region, home to the world's largest Muslim population, consumes more than 63 per cent of global halal products, becoming the centre of this dynamic market. With its strategic location, Vietnam is considered an important gateway to penetrate this large market. Strict halal standards and complex certification systems are also significant challenges for businesses. To make it easier for Vietnamese goods to access this market, the Vietnam Trade Office in the United Arab Emirates (UAE) recommended that Vietnam improve its legal system on halal, including developing national standards and certification processes in line with international requirements. At the same time, the trade office suggested strengthening co-operation in the halal field between Vietnam and the UAE, especially the issuance of certificates according to UAE halal standards. It was forecast that Vietnamese halal products would face fierce competition with similar products from countries with many years of experience and prestige in this field. Vasep believes that Vietnam needs to have specific supporting policies, including prioritising budget resources for production and certification, boosting trade promotion and training specialised human resources in halal. At the same time, there needs to be reputable intermediary organisations to help businesses in the certification process and comply with regulations in export markets. Regarding this issue, Prime Minister Phạm Minh Chính requested the Ministry of Industry and Trade (MoIT) and the Ministry of Foreign Affairs (MoF), according to their assigned functions and tasks, to do research into developing a plan to promote Halal food exports. "This will be an opportunity for Vietnamese tuna businesses to expand their export markets in the context of difficulties in exporting to major markets such as the US and EU," noted Vasep. — Vietnam News/ANN
