Agriculture

The MOU will also foster greater cooperation between Vietnam, US, and international law enforcement agencies to ensure sustainable living marine resources and combat IUU fishing.

The waived tax is estimated to reach US$326 million a year until 2025.

At present, the Covid-19 pandemic has caused a decline of 7% year-on-year in trade turnover of agro-forestry-fishery products between Vietnam and China.

The import staples include cow, wheat, fruit, corn, soy, and animal feed which will be purchased in the next two to three years.

The program built the capacity of livestock experts and extension officers to enhance sustainable intensification of the sector.

A working group from Vietnam plans to visit agricultural suppliers in the US, with a view to importing agricultural products and technologies to support domestic production and consumption.

Vietnam targets to join the 10 most advanced countries in agriculture by 2030, and become a global hub for food processing and agricultural logistics.

Vietnam would be among four economies hardest hit by the Covid-19 outbreak, behind Singapore, Thailand and Hong Kong (China).

The ongoing epidemic is predicted to impact the trade flow of agricultural products between Vietnam and China in six to eight months.

Total registered capital added to the economy in January was VND501.4 trillion (US$21.65 billion).

This part reviews outstanding internal and external economic events of Vietnam in the past year.

It is no doubt that 2019 was another successful year for Vietnam’s economy, putting the country in a favorable condition to achieve all socio-economic targets set for the 2016 – 2020 period.

The consumer price index (CPI) saw an increase of 1.4% in December against the previous month, the highest growth rate for December over the last nine years.

This is the second consecutive year that Vietnam’s economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018.

Prime Minister Nguyen Xuan Phuc requested the government agencies to strictly punish whoever is giving false information regarding this matter.

These two markets are not included in the 24 countries and territories having agreements with Vietnam on importing pork.

In spite of huge demand, the inefficient legal framework is making the process of land grouping difficult for all parties involved.

In the fourth quarter of 2019, demand for pork in Vietnam is estimated at 600,000 tons, while supply is over 400,000, indicating a shortage of 200,000 tons.

The event features over 300 booths on agricultural production appliances.

Vietnam’s political system has showed strong determination and commitment in IUU fishing combat, said an inspector of the European Commission (EC).