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Vietnam’s economic problem temporary, Hong Kong newspaper says |
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Hong Kong (VNA) Vietnam economy would not face a financial crisis and problem in the economy was temporary, Hong Kong's newspaper Shangbao said, citing international economists' opinions. With the current situation, the target to subdue inflation to 20 percent this year was hardly to realise, said Wang Qing Bo, Director of the Bank of China Ho Chi Minh City branch. However, he said, other economy-related norms like prices and stock markets have seen positive changes. Meanwhile, Vice President of Moody Thomas J. Byrne attributed trade deficit and high inflation in Vietnam to escalating food prices. Many signs showed that troubles in running Vietnam's塜 economy were temporary and in the coming time, Vietnam would make positive changes, he said.- |
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Source:
Vietnam News Agency |
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Date：2008/08/04 |
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Plastic export revenues hit 435 million USD |
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Hanoi (VNA) – Vietnam earned 435 million USD by exporting plastic staple in the first half of the year, or a year-on-year increase of 38.2 percent.
Among 39 countries and territories importing the plastics from Vietnam , Japan continued to be the biggest with turnover in the first five months of 2008 fetching almost 74 million USD. It was followed by the US with more than 58 million USD and Cambodia with over 23 million USD.
Despite good export turnovers, many plastic product manufacturers are facing difficulties due to their heavy dependency on imported materials. At present, the plastic industry needs around 1.5 million tonnes of materials per year while the domestic supply can meet only 30 percent of its demand.
To increase the export turnover beyond 1 billion USD this year or a year-on-year rise of 43 percent, the Ministry of Industry and Trade called on plastic product manufacturers to fully tap the domestic material sources and invest in renewing production technology to raise their products’ quality and competitiveness.
Apart from the Republic of Korea , Australia , France , Malaysia and other traditional markets, plastic producers should increase trade promotion activities in other European Union member countries, including the Czech Republic , Estonia , Hungary and Poland , as well as African and Middle East nations, the ministry said.
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Source:
Vietnam News Agency |
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Date：2008/08/01 |
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Plastics exports likely to hit 1 bln USD in 2008 |
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Ha Noi (VNA) – The Ministry of Trade and Industry predicts the nation’s plastics export revenues are likely to hit 1 billion USD this year, a year-on-year rise of 42.9 percent.
Although its turnover only reached 750 million USD in 2007, plastics is an export item expected to experience a high export growth rate due to big import markets, the ministry said.
Viet Nam’s plastics products sell well in international markets due to their high competitiveness, good quality and diversity of modern patterns.
Each year, the European Union imports more than 500,000 tonnes of plastic wrapping from Viet Nam. Japan imports 480,000 tonnes. Viet Nam’s share in these markets is however still small. Viet Nam’s plastics only accounts for less than 1 percent of the US market share, almost 3 percent of Japan’s, and around 5 percent of the EU.
The ministry suggests plastics businesses renovate their production technology to lower production costs and turn out high value-added products to reach this year’s targets.
Plastics are currently exported to Australia, Cambodia, France, Japan, Malaysia, the Philippines, the Republic of Korea, Taiwan and the US.
The ministry says that in addition to existing markets, plastics businesses should access new EU members such as the Czech Republic, Estonia, Hungary and Poland as well as African and Middle Eastern countries.- Enditem
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Source:
Vietnam News Agency (VNA) |
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Related Link: Click
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Date：2008/08/01 |
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