Vietnam aims to produce 1.7 million tonnes of commercial tra fish and earn 2 billion USD from exporting the products in 2024, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
Foreign firms contributed 259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statistics show.
Vietnam targets exports of agricultural produce such as fruits, rice, cashew, and timber worth over US$26 billion a year by 2030.
Regarding the shipping industry as a whole, Tien Phong Securities Company believes that the outlook for 2024 will be more positive due to the gradual cooling down of global inflationary pressures and an increase in demand for goods transportation.
Vietnam strives to achieve a value of livestock product export value of around US$1-1.5 billion by 2025.
Việt Nam’s durian export is heading for US$3.5 billion in revenue this year after jumping by 5 times to finish at more than $2 billion in 2023.
Government approves national strategy on crop cultivation development.
Vietnam exported 267,000 tonnes of pepper worth US$912 million last year, representing an increase of 16.6% in volume, but a decrease of 6.0% in value compared to figures from 2022, according to details given by the Ministry of Industry and Trade.
The Ministry of Agriculture and Rural Development has lowered its target for seafood export value for 2024 to US$9.5 billion from its previous expectation of $10 billion due to many challenges.
The United States is Vietnam’s largest consumer of pepper, making up more than one fifth of the supplier’s total exports, according to the General Department of Customs.
Digital transformation is a new and breakthrough measure to assist in the process of industrialisation and modernisation of the country as well as particular sectors, including logistics, while prompting green transition, according to insiders.
Việt Nam and Laos have vowed to expand bilateral trade turnover in 2024 by 10-15 per cent compared to 2023, said Vietnamese Prime Minister Phạm Minh Chính and his Lao counterpart Sonexay Siphandone after the 46th meeting of the two countries’ Inter-Governmental Committee on Sunday.
With many synchronous solutions, the decline in exports has increasingly narrowed in the second half of 2023, and the trade balance continues to maintain a surplus. These are also optimistic signs for 2024. Although the forecast is difficult, the baptism by fire in past year is expected to create a foundation for exports to make a breakthrough.
With a lower-than-expected export windfall in 2023, Vietnam’s export landscape for 2024 is expected to face plenty of challenges caused by global demand.
Vietnam has exported bird’s nests to China by air for the first time, which once again reflects opportunities for the bird’s nest industry to develop sustainably, especially after a protocol on bird’s nest export to China was signed.
Vietnam’s fruit and vegetable exports are projected to grow by 15% to 20% to reach a new record of between US$6 billion and US$7 billion in 2024, according to predictions released by the Ministry of Agriculture and Rural Development (MARD).
Vietnam is willing to create favorable conditions for Bulgarian businesses to export products to the country, National Assembly (NA) Chairman Vuong Dinh Hue has said.
Vietnam gained a record-high export turnover of $4.8 billion from rice in 2023. However, former Deputy Minister of Agriculture and Rural Development Bui Ba Bong said there are still two things that need to be done.
Nearly 3,000 Vietnamese firms have received codes granted by China, enabling them to export farm produce and food products to the Chinese market.
Vietnamese exporters are recommended to gear up and act flexible with response measures in the face of transport disruption in the Red Sea.