The Indonesian Government is planning to expand its social aid programme and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the economy in the second half of this year.
Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has pledged to speed up adjustment of the country’s rice strategy as quickly as possible as the industry is facing an array of challenges, including a strong baht and rising production costs.
Thai chicken exports rose less than expected in the first half of this year due to COVID-19, according to the Thai Broiler Processing Exporters Association (TBPEA).
The public debt of Laos may increase to as much as 65 to 68 percent of its gross domestic product (GDP) in 2020 following a sharp fall in national revenue collection alongside an increase in loans due to the COVID-19 pandemic, Vientiane Times reported.
Vietnam exported 3.9 million tonnes of rice, earning 1.9 billion USD, in the first seven months of this year, according to the Department of Agro Processing and Market Development under the Ministry of Agriculture and Rural Development.
Wood and wooden product exports hit 1.05 billion USD in July, bringing the figure to 6.09 billion USD in the first seven months of this year, a year-on-year rise of 6.2 percent, the Ministry of Agriculture and Rural Development (MARD) has revealed.
Despite the difficulties posed by the COVID-19 pandemic, Vietnam’s cashew exports in the first half of the year increased by 16 percent in volume year-on-year and 1 percent in value to 232,000 tonnes and nearly 1.53 billion USD, according to the Vietnam Cashew Association (VINACAS).
Container loading and unloading service charges should be increased to approach the regional level so investors would not feel hesitant when pouring money into developing seaports.
The Vietnam Cashew Association (Vinacas) has decided to lower the cashew nut export target to 3.2 billion USD this year, down from the 4 billion USD set in late 2019, given the impact of COVID-19.
Footwear exports were estimated to hit 9.53 billion USD in the first seven months of 2020, a year-on-year decline of 7.9 percent, according to the Ministry of Industry and Trade.
The index of industrial production (IIP) in Ho Chi Minh City went down 5.5 percent year-on-year in seven months of this year due to COVID-19 pandemic, according to the municipal Department of Industry and Trade.
The EU-Vietnam Free Trade Agreement, at its core, aims to liberalise both tariff and non-tariff barriers on key exports of both sides over a period of 10 years. For Vietnam, tariff eliminations will benefit key export industries, including agricultural products such as rice, seafood, and coffee, among others. Localities with key export items are now confident of tapping into the opportunities.
Vietnamese Deputy Minister of Agriculture and Rural Development Le Quoc Doanh on August 5 worked with Commercial Counsellor of the Chinese Embassy in Vietnam Hu Suo Jin to boost exports of farm produce, especially longan, to China.
Vietnam is expected to continue growing its share of global exports despite decline amid the resurgence in the COVID-19 pandemic after three months of no local transmissions, according to an HSBC report.
Multiple tra fish companies suffered losses due to falling export prices and lower orders, focusing instead on the domestic market amid the COVID-19 pandemic.
Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
The Asian Development Bank (ADB) announced on August 4 that it will provide a loan worth 1.5 billion USD to support Thailand’s response to the COVID-19 pandemic.
The Republic of Korea’s fashion firms based in Vietnam are expected to benefit from the free trade agreement between the Southeast Asian country and the European Union (EVFTA), which came into effect this month.
The EU-Vietnam Free Trade Agreement (EVFTA), which came into force on August 1, is hoped to create a driving force to help Vietnam reap further achievements in poverty reduction and economic growth.
The EU-Vietnam Free Trade Agreement (EVFTA) strengthens EU economic links with Southeast Asia and will potentially contribute to its recovery after the coronavirus crisis, moderndiplomacy.eu quoted an EU official as saying in a story published on August 3.
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