Latest news with #VNSHANOI
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
The Star
19-05-2025
- Climate
- The Star
Four killed in Vietnam landslide after flash floods
The scene of flash floods and landslides in Yen Dương Commune, Ba Be District, Bac Kan Province. — VNA/VNS HANOI: A landslide following flash floods in a mountainous area of northern Vietnam has killed four people, the government said on Monday (May 19), as forecasters warned of further downpours. The landslide occurred early Sunday in Ba Be district of Bac Kan province following torrential rain on Saturday. "A very big (noise, like an) explosion was heard from the top of the mountain. Then soil, rock and water poured down from the mountain," a statement on the government's website quoted local official Tieu Xuan Tai as saying. Tai said local residents had been aware of a two-metre-wide (six-feet-wide) crack on the top of the mountain that appeared several years ago. Provincial authorities have issued warnings to the public, and called for immediate safety checks for communities along streams, rivers and other areas vulnerable to landslides. Residents must be immediately evacuated if they are at risk, authorities said. Forecasters said rain in the area had been higher than normal so far this month and further heavy downpours were expected in northern and central areas. Vietnam is prone to tropical storms, which often cause deadly flash floods and landslides, but they usually hit the country between June and November. Experts say human-driven climate change is causing more intense weather patterns that can make destructive floods more likely. Last year, 514 people died in Vietnam due to natural disasters, three times more than in 2023, the agriculture ministry said. In September, northern Vietnam was devastated by Typhoon Yagi, which claimed 345 lives and caused an estimated economic loss of US$3.3 billion. - AFP
The Star
09-05-2025
- Business
- The Star
More clarity needed to ease investment procedures in Vietnam
VCCI's research found that investors frequently struggle to navigate overlapping and frequently amended laws. — VNA/VNS HANOI: Administrative bottlenecks continue to burden investment projects, despite recent reforms aimed at streamlining procedures, according to the Vietnam Chamber of Commerce and Industry (VCCI). At the launch of its 2024 Legal Development Report, VCCI highlighted the 'green-lane' investment mechanism as a rare positive development in an otherwise complex regulatory landscape. The streamlined process was introduced to amend the law on investment, and came into force earlier this year. Under the mechanism, investors are required to complete only two procedures: obtaining an investment registration certificate and an environmental permit. Other approvals, including those for construction, fire safety and technology assessment, are handled post-licensing. According to the law's drafting committee, the process cuts administrative time by up to 260 days, reducing it to just 15 days. However, the green-lane route is currently limited to certain sectors and geographic areas, such as industrial parks and high-tech zones. Nguyen Thi Dieu Hong, legal expert at VCCI's Legal Department, noted that even this significant time saving only serves to highlight the scale of delays under the standard process. 'For a typical land-use project, an investor must complete at least 15 separate procedures in the preparation phase alone,' she said. 'These involve multiple laws, on investment, land, construction, environment, planning, fire prevention, and require working with agencies at both the central and local levels.' Despite government efforts to decentralise, many projects still need approval at both levels, further complicating implementation. VCCI's research found that investors frequently struggle to navigate overlapping and frequently amended laws. A single project may fall under 12 laws and 20 decrees or circulars, in addition to local rules. 'There is no single legal document that clearly outlines the steps and procedures for implementing a project,' Hong said. 'Investors must interpret everything themselves, which is particularly challenging for newcomers or foreign businesses,' she added. Some procedures, such as land auctions or selection of investors through bidding, lack clear deadlines and depend entirely on local decisions, according to the research. Others, such as environmental impact assessments, have defined time frames, but delays are common and often ripple through other dependent procedures. Hong added: 'Our surveys show that for land-use projects, the process typically takes between 18 to 24 months if things go smoothly. On average, it takes two to three years just to complete administrative requirements before project implementation can begin.' The burden of complex procedures is reflected in the 2023 Provincial Competitiveness Index, which surveyed 10,000 businesses. The report found that 73% of enterprises had postponed or cancelled business plans due to difficulties with land-related procedures. The findings also revealed that 64% of firms experienced delays beyond legal timelines, and 44% pointed to excessive delays in land valuation. — Viet Nam News/ANN
The Star
06-05-2025
- Business
- The Star
Textile and garment sectors boost exports
As of April 15, Vietnam's total textile and garment exports reached US$1.8bil. — VNA/VNS HANOI: Vietnam's textile and garment industry is pressing forward with steady growth and enhanced positioning in the global supply chain, thanks to timely strategies in response to ongoing international challenges. As of April 15, Vietnam's total textile and garment exports reached US$1.8bil, representing an 8.7% increase compared to the same period in 2024. Recent statistics from the General Department of Customs showed encouraging growth across key export markets. The US remains Vietnam's largest customer, with market share climbing from 36.3% to 38%, followed by gains in the European Union, from 9.1% to 9.4%, and Japan, from 10.8% to 11%. This growth is viewed as a positive signal, especially amid unpredictable market conditions and declining global consumer demand, impacts by the United States' reciprocal tax policy. Challenges surfaced in early April when the United States announced a temporary 10% tariff on Vietnamese textile and garment imports, causing disruption in orders and uncertainty across the sector. The 90-day delay in imposing tariffs on import goods is being viewed as a good time for enterprises to accelerate production and exports. Industry experts anticipate the latter half of 2025 to be particularly difficult, marked by unpredictable demand and ongoing trade tensions. In response, many businesses have begun formulating contingency plans while closely monitoring negotiations between Vietnam and the United States over tariffs. Vietnam's garment companies are pursuing diversification strategies, expanding into new markets, strengthening domestic sales and improving raw material management. They are also investing in services, workforce training and retail operations to enhance overall resilience. Garment 10 Corp, reported 1.25 trillion dong (US$48mil) in revenue during the first quarter, a 12% increase year-on-year. Hung Yen Garment Corp (Hugaco) recorded a 10% revenue increase and confirmed sufficient orders through the end of July, with negotiations ongoing for the remainder of the year. Hugaco chairman Nguyen Xuan Duong warned, though, that unequal tax policies among competing textile-exporting nations could erode Vietnam's competitiveness, shifting orders to countries with lower costs. According to the Vietnam National Textile and Garment Group (Vinatex), the 90-day suspension period for US tariffs presents a crucial opportunity for Vietnam's manufacturers to ramp up production and exports. Although garment orders remain relatively stable, upstream segments such as the yarn industry have started to experience strain, with some companies halting operations due to supply chain bottlenecks. This underscores the need for a more integrated and self-reliant industry framework. The chairman of the Vietnam Textile and Apparel Association (Vitas), Vu Duc Giang, emphasised the importance of market agility. With 22 new-generation free trade agreements either active or pending, Vietnamese companies are well-positioned to diversify both clientele and product lines. This is a highly critical factor in reaching the sector's US$48bil export target for the year. Vinatex chairman, Le Tien Truong, said: 'Companies should maximise productivity in the second quarter by extending regulated overtime, reorganising production lines and securing reserves to weather the uncertainties in the latter half of 2025.' He highlighted the necessity of meeting current orders efficiently to demonstrate reliability and build credibility with international clients. Truong also emphasised transparency in sourcing and compliance with anti-fraud regulations. Vinatex is actively encouraging internal material sourcing, market-by-market risk assessments and broader efforts to diversify products and partners to mitigate market dependencies. — Viet Nam News/ANN
