The ongoing pandemic has been pushing the timber market towards sustainable development, but the imbalance of interests between all stakeholders in the supply chains could make it difficult for it to develop sustainably. Thus, experts now advise deploying supportive policies and reform strategies to boost the sector.
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Indian companies are turning their focus to Vietnam as the country is emerging as one of the bright stars in the COVID-19 dark sky.
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Vietnam's export value in terms of livestock products (pork, chicken, eggs, processed meat, sausages, and honey) reached approximately US$300 million in 2020, according to the Department of Livestock Production under the Ministry of Agriculture and Rural Development. This result remains modest compared to its potential, so how to increase the export value of livestock products remains a challenge for the industry.
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With 17 FTAs, 2020 marked an important step into a new, more extensive and comprehensive stage of international economic integration. This is considered as a launch pad for Vietnam's economic recovery, helping Vietnamese goods and businesses reach out to the "great sea".
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With the signing of the Regional Comprehensive Economic Partnership (RCEP), member countries in the region, like Vietnam, will have more convenient transportation. The RCEP is expected to increase the export value of Vietnam's agriculture, especially fresh fruits and vegetables, thanks to the reduction in storage and logistics costs.
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On the eve of the lunar new year in 2021, Deputy Minister of Planning and Investment Tran Quoc Phuong spokewith Customs News about economic growth in 2021.
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Vietnam’s swift-breeding industry has grown strongly since 2010, with the production accounting for about 3% of global swiftlet nest production. According to the Department of Livestock Production (Ministry of Agriculture and Rural Development - MARD), the swift-breeding industry has many development opportunities and economic potential.
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Recently, many localities across the country have been restructuring the agricultural sector in the direction of increasing the added value and developing sustainably. One of the important solutions to achieve the goal is developing the formation of value chains for agricultural products.
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One of the emerging challenges for Vietnam's industrial development is that the driving force in Vietnam's production and export of industrial products is currently driven by the FDI sector, accounting for approximately 70% of the country's total export turnover.
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Throughout more than three decades of economic reform, Vietnamese companies from many sectors have been venturing abroad and become role models. Yet, the logistics sector remains too focused on the domestic market. Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade, emphasised that local players should follow regional examples and take their business to international arena.
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