Shorter fuel price review cycle proposed
HCMC – The Ministry of Industry and Trade has proposed reviewing and adjusting fuel prices every seven days, instead of the current 10, to make it possible to align domestic and global gasoline prices. The weekly price review would take place every Thursday, except on holidays. If the adjustment
Vietnam emerges as biggest ASEAN wood products exporter to Australia
HCMC – Vietnam became the biggest ASEAN exporter of wooden products to Australia in November 2022, with US$205.6 million, up 26.4% over the same period last year, according to the Agency of Foreign Trade under the Ministry of Industry and Trade. Australia has prioritized the import of wood frame
Steel prices soar three consecutive times in January
HCMC – Domestic steelmakers late last month announced to hike prices, the third spike of the month, reported the local media Domestic steelmakers adjusted up steel prices by VND300,000 – VND700,000 a ton on January 30 to over VND16 million a ton, but the new level is still over VND2 million lower
Six businesses lose fuel distribution licenses
HCMC – The Ministry of Industry and Trade has revoked the fuel distribution licenses from six local businesses, with effect on February 27. They comprise Bong Sen Vang Oil Co. Ltd.; Dai Long Petro Trading Joint Stock Company; Quang Ha Transport, Construction, and Trading Company Limited; An Huu
More aqua-product firms eligible to export to China
HCMC – An additional 23 Vietnamese businesses are eligible to export aqua products to China, as approved by the Chinese General Administration of Customs. The China Import Food Enterprise Registration system officially announced this, increasing the total number of qualified Vietnamese exporters
Local cooking gas prices soar in Feb
HCMC – The domestic retail cooking gas price surged by over VND60,000 per 12-kilogram cylinder starting today, February 1, following the soaring global prices of the product. In Hanoi City, a 12-kilogram cylinder of the Petrolimex cooking gas is priced at VND480,500, up VND62,000 against the
UK imports from Vietnam in 2022 put at over US$6 billion
HCMC – United Kingdom (UK) imports from Vietnam amounted to US$6.06 billion last year, rising by 5.2% over 2021, according to the General Department of Vietnam Customs. Phones and phone parts were Vietnam’s biggest export earner to the UK, at US$1.13 billion, accounting for 18.7% of the total.
Local fuel prices surge
HCMC – Domestic fuel retail prices were adjusted up by nearly VND1,000 per liter at 7 p.m. yesterday, January 30, according to an announcement jointly released by the ministries of Industry-Trade and Finance. RON 95-III gasoline, the most popular type of gasoline in Vietnam, is priced at VND23,140
Vietnam has trade surplus of over US$3.6 billion in January
HCMC – Vietnam posted a trade surplus of US$3.6 billion in January, showed data of the General Statistics Office. Exports amounted to over US$25 billion in the month, down 13.6% month-on-month and 21.3% year-on-year. Imports were put at US$21.5 billion, down a steep 21.3% against December 2022 and
Industry Ministry says to safeguard local firms amid import spike
HCMC – The Ministry of Industry and Trade would step up efforts to protect the interests of local producers and exporters amid an import surge, the Vietnam News Agency reported. To mitigate the adverse effects of the sharp import growth and support domestic manufacturers, the ministry would work
Vietnam imports 6,300 autos in first half of January
HCMC – Vietnam’s automobile imports totaled 6,306 units between January 1 and 15, with a total value of US$161 million, according to the General Department of Vietnam Customs. Vehicles with nine or fewer seats accounted for 91.6% of the total in value and 85.1% in volume. The rest included bigger
Over 350 tons of fruit shipped to China
HCMC – The first batches of agricultural products on the first day of the Lunar New Year, January 22, passed through the Vietnam-China border gates in the northern province of Lao Cai. Vietnam has exported over 350 tons of fruit to the northern market, including 150 tons of dragon fruit, 130 tons