August has become the month with the highest export value of iron and steel of all kinds, reached 1.53 million tonnes, worth nearly $1.5 billion.
The fourth wave of COVID-19 has severely affected the fruit and vegetable exports, reducing exports in August by 13.3 per cent compared to July.
In the first seven months, Vietnam exported $2.8 billion of goods to the United Arab Emirates (UAE), up 40.8 per cent on-year.
Exports of textiles and garments, leather and footwear in the first four months have soared due to the gradual recovery of some major export markets of Vietnam.
Despite the COVID-19 pandemic, Vietnam exported 9.86 million tonnes of steel worth $5.26 billion in 2020, up 47.9 per cent on-year. However, the average selling price dropped by 15.5 per cent to $533 per tonne.
Once the proposal of the Ministry of Industry and Trade (MoIT) is approved, the petrol and oil trading scene may see more foreign players.
This year, Vietnam is estimated to import $6.23 billion in pharmaceutical products and materials for production, $3.5 billion of which will be finished medicine, up $400 million on-year, according to statistics published by the Ministry of Industry and Trade.
After numerous rounds of negotiation, Vinamilk completed the purchase of 79.5 million shares in GTNFoods to increase its holdings to 75 per cent and indirectly own 51 per cent of the voting rights in Moc Chau Milk.
Due to the poor competitiveness of Vietnamese agricultural and livestock products, agriculture will be significantly impacted by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). However, it will also be a driving force for the institutional reform of Vietnamese agriculture.
After introducing agricultural commodities at SIAL Paris 2018, Vietnamese enterprises successfully received export orders worth millions of dollars.
Bao Minh textile factory, which is invested by Bao Minh Textile (JSC and will officially go on stream in October 2018, is expected to make great contributions to apparel material supply in Vietnam.
The Philippines is initiating an investigation on whether to apply safeguard measures on imported cement, raising concerns that Vietnam could lose a major export market.
Two major foreign direct investment projects on accessories production in the textile and apparel industry concurrently coming online late last month have boosted the sector’s production capacity as well as perfected its supply chain.
Cement firms are scaling up efforts to boost exports to tackle the growing oversupply in the domestic market.
Textile and clothing exports to the US might touch $13.8-13.9 billion this year, and experts assume the sector would see more import orders shifted to Vietnam due to the implications of the US-China trade war.