Thai stocks closed down 3.04 points.

Bangkok, SET closed today at 1,373.33 points, down 3.04 points (-0.22%), trading value 42,288.84 million baht.

Stock trading today The index fluctuates sideways. By making the lowest point of 1,372.86 points, making the highest point at 1,379.04 points. As for securities, changes today increased by 226 securities, decreased by 238 securities, and remained unchanged by 190 securities.

Source: BERNAMA News Agency

RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports

Hanoi: Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 – 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.

The RoK is currently the fourth largest market of Vietnamese agro-forestry-fisheries products.

Since the VKFTA took effect in late December 2015, aquatic exports to this market have grown considerably, by 35% to 787 million USD in 2023 from 585 million USD in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Phung Thi Kim Thu, a shrimp market expert at VASEP, said the RoK is the largest importer of squid and octopus from Vietnam, accounting for 37% of total shipments. Meanwhile, Vietnam ranks second among suppliers of these products for this market, following China.

Vietnam’s squid and octopus exports to the RoK are forecast to rise in the first quarter of 2024, she said, noting that
shrimp is also a key aquatic export to the market.

The RoK will remain a popular choice of many businesses given its close proximity to Vietnam and stable demand, especially as inflation in such major markets as the US and Europe slowed consumption. Sea freight costs to the US and Europe have soared, thus closer markets like the RoK prove more attractive for exporters, Thu went on.

The Foreign Trade Agency under the Ministry of Industry and Trade reported that in 2023, the RoK’s coffee import from Vietnam increased 17.9% in volume to 41,450 tonnes and 16.3% in value to 93.35 million USD compared to the previous year. The proportion of Vietnamese coffee in the RoK’s total imports rose to 21.52% in 2023 from 17.15% in 2022.

The Korean coffee market’s revenue is predicted to hit 2.2 billion USD this year, the agency said, considering this a chance for coffee producers around the world, including Vietnam, boost shipments to the RoK.

Meanwhile, the RoK was the third largest importer of Vietnamese rubber with 8
,200 tonnes worth 12.77 million USD in the first two months of 2024, up 61.7% in volume and 60.3% in value year on year, statistics show.

Last year, this market also ranked third among importers of Vietnamese fruits and vegetables with 226 million USD in value, rising 25% from 2022.

The Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) cited a report released in mid-February by the Korea Rural Economic Institute as saying that the RoK’s frozen fruit import volume stood at 64,000 tonnes in 2023, up 6% from 2022. The import is expected to increase further this year as the RoK reduces or exempts tariffs on foreign fruits to stabilise domestic prices.

However, imports into the RoK are also facing increasingly strict requirements in terms of quality, food safety, sanitary and phytosanitary measures. This is also a big reason why Vietnam’s agro-forestry-fisheries products have accounted for just 4% of the RoK’s total imports of these commodities in 2023.

Facing that fact, the Korea
International Cooperation Agency (KOICA) has pledged to assist Vietnam with agricultural development through many projects like improving value chains, enhancing connectivity, and bettering climate change response capacity to produce high-quality farm produce and meet demand from the RoK./.

Source: Vietnam News Agency

Vietnamese, Chinese, Lao localities promote tourism cooperation

Lao Cai: More than 150 representatives from domestic tourism businesses and firms from China’s Yunnan province and Laos’ Vientiane city have shared experience and proposed measures to boost cooperation at a conference held in Sa Pa resort town, the northern province of Lao Cai.

The April 27 tourism promotion conference aimed to connect businesses and discuss measures to develop tours and tourism routes that link Lao Cai provinve in general, Sa Pa in particular, with localities in the southwestern region of China and other tourist cities in Southeast Asian countries.

At the conference, delegations from Vientiane city, Yunnan province’s Private Enterprise Association, Kunming city, Pingbian district, Hekou district and the Lao Cai Provincial Tourism Association shared experiences, discussed difficulties, obstacles, and policies to develop tourism. They also established cooperative relationships, and proposed solutions to promote tourism development in the localities.

They agreed that in the coming time, loca
lities should pay due attention to supporting tourism businesses with mechanisms and policies so that tourism promotion will be more substantive and effective for a common and prosperous community.

In 2023, nearly 300,000 Chinese tourists entered Lao Cai via Lao Cai International Border Gate, accounting for 54% of the total number of international visitors to the province.

The number of Vietnamese tourists to Laos in 2023 rose 33%, making Vietnam the second largest foreign tourist source of Laos.

In the first quarter of 2024, about 800,000 Vietnamese tourists travelled to China via Lao Cai border gate and about 120,000 Chinese people entered Vietnam via the gate./.

Source: Vietnam News Agency

Vietnam strives to remain world’s biggest cinnamon exporter

Hanoi: The cinnamon sector needs to issue a reform strategy to keep Vietnam’s position as the world’s biggest cinnamon exporter, which it has held since 2021.

Last year, Vietnam exported nearly 90,000 tonnes of cinnamon to earn over 260 million USD, up 14.6% in volume, but down 10.7% in value compared to 2022. The average price reached 2,918 USD a tonne, down 22.1% year-on-year.

India was the main importer of Vietnamese cinnamon with more than 38,000 tonnes, accounting for 42.6%. It was followed by the US with more than 10,100 tonnes, and Bangladesh nearly 6,000 tonnes.

In the first two months of this year, Vietnam pocketed 30 million USD from shipping 10,500 tonnes of cinnamon abroad.

Hoang Thi Lien, president of the Vietnam Pepper and Spice Association (VPSA), said that over the past time, farmers have continuously developed new farming techniques to improve the quality and productivity of cinnamon trees. In addition, production linkage models between businesses and farmers have been increasingly implem
ented to gradually expand sustainable raw material areas.

Vietnam has dozens of companies investing in modern cinnamon processing lines for more quality products to meet market requirements.

Among the 16 signed free trade agreements, there are many new generation ones such as the EU-Vietnam FTA, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP) that have helped Vietnam have an advantage over some other countries in terms of tax. This is a very favourable condition and opportunity for Vietnamese cinnamon products to advance further in the international market.

Currently, Vietnamese cinnamon has been exported to nearly 100 countries around the world, accounting for 95% of the market share of the Indian market, 36.5% of the US and 35% of the European market. However, the export rate of processed cinnamon accounts for only 18.6%, or 18,659 tonnes, of which 70% is exported to the US, and 12% to Europe.

Therefore, the se
ctor will continue to improve post-harvest and processing quality to increase exports to demanding markets in Europe and the US.

It will step up trade promotion activities, build brand identity on a national scale, encourage public private partnership models and seek support resources and policy consultations in a long-term strategy of turning Vietnam into the leading sustainable cinnamon supplier in the world./.

Source: Vietnam News Agency

Khanh Hoa province seeks tourism partners in Thailand

Bangkok: The south central coastal province of Khanh Hoa introduced its tourism potential to potential partners in Thailand at a conference held in the Thai capital Bangkok on April 26.

At the conference, Vietnamese Ambassador-designate to Thailand Pham Viet Hung said there is great potential of tourism cooperation between Vietnam and Thailand, citing statistics that nearly half a million Thai tourists visited Vietnam and 900,000 Vietnamese travelled to Thailand last year.

He held that the signing of MoUs on tourism linkages at the conference will help promote cooperation between the two countries in the field.

Vice Chairman of the Thai Chamber of Commerce Pairat Burapachaisri took note of Khanh Hoa’s advantages, particularly its Nha Trang city, a popular beach destination for foreign holidaymakers.

Saranya Sakontanarak from the Thailand-Vietnam Business Council also said Khanh Hoa is home to many quality tourism destinations, meeting the needs of various segments of tourists. She urged Thai businesses to
explore investment opportunities in the Vietnamese province.

On the occasion, the Nha Trang-Khanh Hoa tourism association signed an MoU on cooperation with the Thai Tourism Association./.

Source: Vietnam News Agency

PM directs Ninh Thuan to tap on strengths for sustainable development

Ninh Thuan: The south central province of Ninh Thuan must capitalise on its standout strengths, opportunities and competitive edge so as to develop comprehensively, rapidly and sustainably, Prime Minister Pham Minh Chinh said on April 28.

Attending a conference to announce the province’s master plan during the 2021-2030 period with a vision to 2050, and promote trade and investment, PM Chinh highlighted Ninh Thuan’s numerous strengths for development, including a uniform transport system, huge tourism potential with stunning beaches and intact Champa architectural relics, large fishing grounds and great potential for renewables.

He hailed the local party organisation, administration, people and enterprises’ efforts to carve out robust socio-economic achievements over the past time, with the GDP growth during 2010-2023 reaching 8.6% per year, higher than the country’s average, and local livelihoods improved, while pointing out several challenges facing the province such as extreme natural conditions, drought
, limited investment, infrastructure lacking connectivity, and human resources failing to meet requirements of the socio-economic developments.

The Government leader underscored the five breakthroughs for development as named in its master plan, which are renewable energy, tourism, processing, manufacturing, hi-tech agriculture and realty, requesting the province to mobilise and effectively use all legal resources to bolster traditional growth locomotives, create new ones, and enhance investment in human resources.

PM Chinh asked the province to carry out its master plan in line with the national, regional and sectorial planning, push ahead investment strategic in infrastructure to respond to climate change, and prioritise resources to harmoniously develop sea-based economy, urban economy, tourism economy and heritage economy in the green, digital and circular direction.

Along with bolstering economic cooperation with localities in the vicinity, Ninh Thuan must pay due attention to developing high-quality
human resources and giving priority to potential areas such as tourism and renewables, he said, asking the province to enhance capacity for climate change adaptation and environmental protection, improve investment climate, and make meticulous preparation for attracting large and potential investors.

‘Ninh Thuan should popularise its master plan to garner support from local people, enterprises and investors’, he stressed, instructing provinces, cities, ministries and sectors to assist Ninh Thuan to effectively implement its master plan.

Under the province’s master plan, Ninh Thuan will become an upper-middle income province in the country by 2030, and a locality with comprehensive, fast and sustainable development and diverse economy by 2050.

At the conference, Ninh Thuan province introduced its potential, strengths, incentives, and priorities for development to domestic and foreign investors, aiming to call for investment in 55 projects in the five priority domains of renewables, high-quality tourism, pro
cessing and manufacturing, smart agriculture and real estate.

On the occasion, the province also presented investment policy certificates and investment licences, and signed MoUs on developing 14 large projects worth more than 120 trillion VND (4.73 billion USD) with investors./.

Source: Vietnam News Agency

Two new sections on North-South expressway put into use

Ninh Thuan: Prime Minister Pham Minh Chinh on April 28 attended a hybrid ceremony in the south central province of Ninh Thuan to inaugurate the Cam Lam-Vinh Hao expressway and open the Dien Chau-Bai Vot expressway in the north central province of Nghe An to traffic.

They are the two components of the North-South Expressway project.

The 78.5km Cam Lam – Vinh Hao Expressway, running through the three coastal provinces of Khanh Hoa, Ninh Thuan, and Binh Thuan, was invested with over 8.92 trillion VND (nearly 352 million USD) in the form of public-private partnership (PPP) and has a designed maximum speed of 90km per hour. It shortens the travel time from Ho Chi Minh City, the country’s largest economic hub, to Nha Trang (Khanh Hoa) to about 5 hours by car, instead of 8 hours as before.

Meanwhile, the 50.5km Dien Chau-Bai Vot section runs through the two central provinces of Nghe An and Ha Tinh. The 11-trillion-VND expressway can shorten the travel time from Hanoi to Vinh city of Nghe An to just over 3 hours b
y car.

The two new roads help increase the total length of the currently operational expressway to 1,226 km out of the planned 2,064 km length of the North-South Expressway from Huu Nghi border gate in the northern province of Lang Son to Nam Can town in the southernmost province of Ca Mau.

Addressing the event, the Prime Minister emphasised that developing a synchronous and modern infrastructure system is one of three strategic breakthroughs, receiving special attention and direction from the Party and State.

In particular, the expressway system plays a very important role, especially in connecting and improving transportation capacity to serve production, business and daily life, thus helping attract investment, and boost socio-economic development, and ensure national defence and security for localities, regions and the whole country.

He requested the Ministry of Transport to preside over and coordinate with ministries, sectors and localities to guide the operation and exploitation of expressways to en
sure safety and efficiency.

On the same day, the Government leader visited Labour Hero Ho Thi Luom, born in 1932 in Phuoc My ward, Phan Rang – Thap Cham city – a resilient and creative person who helped the salt production team at the Vinh Ngoc Salt Factory (Nghe An) always exceed output and have the highest productivity in the salt industry./.

Source: Vietnam News Agency