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Straits Times
an hour ago
- Business
- Straits Times
Vietnam ends two-child policy as birth rate hits record low
The previous law allowed only one or two children per family, except in special cases. PHOTO: AFP HANOI – Vietnam abolished a longstanding policy limiting families to having no more than two children as the nation grapples with a declining birth rate – posing a demographic crunch that could undermine future growth prospects. Under the new regulation approved by the National Assembly Standing Committee in Hanoi on June 3, couples will now have the right to decide when to have children, how many to have, and the spacing between births, the official Vietnam News Agency reported. The previous law allowed only one or two children per family, except in special cases. In practice, it was rarely enforced for non-members of the Communist Party of Vietnam. For party members who broke the law, the penalty could be a warning, reduced bonus, or dismissal from their position. The restriction was introduced in 1988, when the total fertility rate was over four births per woman. The nation's birth rate sank to a record low last December, with the total fertility rate falling to 1.91 children per woman, marking the third consecutive year it has dropped below the replacement level. In 2024, the Health Ministry proposed amending the law to allow each couple and single parent to decide how many children to have and the interval between births. 'Vietnam is in the period of population ageing,' according to the UN Population Fund. It said the process is 'progressing rapidly', and that the transition from an 'ageing' to an 'aged' population will occur within just 20 years. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Epoch Times
11 hours ago
- Business
- Epoch Times
Vietnamese Businesses to Sign Deals to Import $2 Billion of US Farm Produce
Vietnamese businesses are set to sign memorandums of understanding (MOUs) to buy $2 billion worth of U.S. farm produce, the country's state-owned news agency reported on Tuesday. The Vietnam News Agency
Business Times
16 hours ago
- Business
- Business Times
Vietnam firms to sign MOUs to buy US$2 billion of US farm produce
[HANOI] Vietnamese firms will sign memorandums of understanding with US partners to buy US$2 billion worth of American farm produce, the agriculture ministry said on Tuesday, part of efforts to seal a new trade deal between the two countries. Vietnam has been slapped with 46 per cent 'reciprocal' tariffs by the Trump administration. Though they have been paused until July, if they come into effect they could seriously undermine a growth model that relies on exports to the US, its top market. The new deals, signed during a visit to the US by a delegation of 50 Vietnamese companies led by agriculture minister Do Duc Duy, include five MOUs to buy US$800 million of products from Iowa over three years, the agriculture ministry said. The Iowa MOUs involve purchases of corn, wheat, dried distillers grains and soybean meal, it added. Vietnam and the Trump administration have been holding negotiations on a trade agreement, with Vietnam pledging to allow more US imports to narrow the trade gap between the two countries. The US registered a trade deficit of US$123 billion with Vietnam last year. Vietnam last year bought US$3.4 billion worth of US farm produce, and exported US$13.68 billion of its own agricultural products to the US, Vietnam News Agency reported. Vietnam has also pledged to buy other American products, including Boeing planes and liquefied natural gas. It has also promised to crack down on counterfeits and digital piracy after the US accused the country of being a major hub for these illegal activities. REUTERS
The Star
18 hours ago
- Business
- The Star
Vietnam firms to sign MoUs to buy US$2 bln of US farm produce
FILE PHOTO: Wagyu cattle stand in a pasture at Grasslands Wagyu ranch near Blanchard, Oklahoma, U.S. July 11, 2024. Vietnam last year bought US$3.4 billion worth of US farm produce. - Reuters HANOI: Vietnamese firms will sign memorandums of understanding with US partners to buy US$2 billion worth of American farm produce, the agriculture ministry said on Tuesday (June 3), part of efforts to seal a new trade deal between the two countries. Vietnam has been slapped with 46 per cent "reciprocal" tariffs by the Trump administration. Though they have been paused until July, if they come into effect they could seriously undermine a growth model that relies on exports to the United States, its top market. The new deals, signed during a visit to the United States by a delegation of 50 Vietnamese companies led by agriculture minister Do Duc Duy, include five MoUs to buy US$800 million of products from Iowa over three years, the agriculture ministry said. The Iowa MoUs involve purchases of corn, wheat, dried distillers grains and soybean meal, it added. Vietnam and the Trump administration have been holding negotiations on a trade agreement, with Vietnam pledging to allow more US imports to narrow the trade gap between the two countries. The United States registered a trade deficit of US$123 billion with Vietnam last year. Vietnam last year bought US$3.4 billion worth of US farm produce, and exported US$13.68 billion of its own agricultural products to the United States, Vietnam News Agency reported. Vietnam has also pledged to buy other American products, including Boeing planes and liquefied natural gas. It has also promised to crack down on counterfeits and digital piracy after the US accused the country of being a major hub for these illegal activities. - Reuters
Yahoo
19 hours ago
- Business
- Yahoo
Vietnam firms to sign MoUs to buy $2 billion of US farm produce
HANOI (Reuters) -Vietnamese firms will sign memorandums of understanding with U.S. partners to buy $2 billion worth of American farm produce, state media reported on Tuesday. The deals include 5 MOUs to buy $800 million of products from Iowa over three years, Vietnam News Agency reported. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
