Binh Duong’s wood exports up slightly in first half
Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
Binh Duong (VNA) - Wood and wooden product exportsin the southern province of Binh Duong hit more than 1.7 billion USD in thefirst half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percentof the local total export value of 11.9 billion USD.
Local companies producing wooden products are expected to benefit from the opportunitiesthe EU-Vietnam Free Trade Agreement (EVFTA) offers and have targeted growth inthe remaining months of the year.
According to the Binh Duong Furniture Association (BIFA), many companies had to limit production because of theCOVID-19 pandemic and have seen a decline in new export orders.
BIFA Chairman Dien Quang Hiep said Binh Duong is home to 1,600 furniture enterprises,or 40 percent of those found nationwide.
Amid the difficulties caused by the pandemic, local businesses are making everyeffort to seek domestic raw material resources to replace imports, whilepromoting sales via e-commerce platforms.
Hiep added that nearly 50 percent of total export orders held by localbusinesses are reported to have been placed through e-commerce platforms.
The country’s exports of wood and wooden products in the first four months of 2020were worth nearly 3.2 billion USD, a year-on-year increase of 6 percent,according to the General Department of Customs.
Thanks to its efficient pandemic control, Vietnam has become an attractiveinvestment destination for many wood processing companies, with turnover inbillions of dollars.
The country expects wood processing exports to top 12.5 billion USD this year,up 10 percent against last year, according to the Vietnam Timber and ForestProduct Association (VIFORES)./.
Vietnamese wood processing firms need to rethink their production models and embrace technologies to increase their competitiveness amid current and future challenges, delegates said at a seminar held in Ho Chi Minh City on September 10.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said that Vietnam is focusing on four measures to bolster wood and wooden product export growth this year.
Exports of wood and wood products in the first four months of the year were worth nearly 3.2 billion USD, a year-on-year increase of 6 percent, according to the General Department of Customs.
Secretary of the southern Binh Duong provincial Party Committee Tran Van Nam hosted a reception on July 7 for Lao Ambassador to Vietnam Sengphet Houngboungnuang.
The southern province of Binh Duong enjoyed a trade surplus of 2.6 billion USD in the first half of 2020, according to the provincial statistics office.
The Department of Natural Resources and Environment of southern Binh Duong province said it had fined 87 facilities for environmental violations in the first half of 2020.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
Illustrative image (Photo: VNA) 
