Export-import turnover reaches 1.41 billion USD during Tet

Hanoi: Vietnam’s export-import turnover reached 1.41 billion USD during the Lunar New Year (Tet) holiday which lasted from February 8 – 14, according to the General Department of Vietnam Customs.

The agency reported that over 1,000 businesses nationwide engaged in import and export activities during the seven-day period. Meanwhile, nearly 10,000 customs declarations were processed in the reviewed period.

During the holiday, Vietnam earned 730 million USD from exports, while spending 680 million USD on imports.

The commodity group of phones and components was the largest earner with 282.8 million USD, making up 38.7% of the total export value during Tet. It was followed by electronic products and components (263.6 million USD) and machinery and equipment (54.4 million USD), accounting for 36.1% and 7.5%, respectively.

Vietnam imported from the Republic of Korea goods with total value of nearly 239 million USD, accounting for 35.2% of the total import value during Tet.

The department said the import-export
value of the country totaled 82.56 billion USD from January 1-February 14, up 17.1% compared to the same period last year.

Of the figure, export revenues hit 43.83 billion USD, while imports were valued at 38.73 billion USD, resulting in a trade surplus of over 5.1 billion USD./.

Source: Vietnam News Agency

Land zoned for social housing expands to over 8,390ha: ministry

Hanoi: The land area zoned for social housing development has increased by 5,031ha from the 3,359ha reported in 2020, said the Ministry of Construction (MoC).

As such, there are now 1,249 land lots covering 8,390ha for building social housing, data show.

The MoC and the State Bank of Vietnam recently submitted a report on the implementation of the plan on building at least 1 million social housing units for low-income earners and workers of industrial parks in the 2021 – 2030 period.

The MoC said many localities have paid attention to zoning land for social housing such as Dong Nai province 1,063ha, Ho Chi Minh City 608ha, Long An province 577ha, Hai Phong city 471ha, and Hanoi 412ha. However, some others haven’t, including the provinces of Ninh Binh, Ha Giang, Lai Chau, Nghe An, Dak Nong, Ninh Thuan, and Dong Thap.

From 2021 to the end of 2023, 499 social housing projects with 411,250 apartments were implemented nationwide. Among them, 71 projects with 37,868 apartments were completed, 127 others with 10
7,896 apartments had their construction started, and the 301 remainders with 265,486 apartments had their investment policies approved.

Deputy Minister of Construction Nguyen Van Sinh noted thanks to strong directions from the Government and Prime Minister as well as the engagement of ministries, sectors, and localities, significant results have been obtained in social housing development over the recent past.

Many localities are actively attracting investment to build social housing such as Bac Ninh 15 projects with 6,000 apartments, Bac Giang five projects with 12,475 apartments, Hai Phong seven projects with 11,678 apartments, Binh Duong seven projects with 6,557 apartments, and Dong Nai eight projects with 9,074 apartments, he said.

Meanwhile, despite big demand for social housing, investment in this type of accommodation in several localities remains modest compared to the plan’s target for 2025. For example, Hanoi has only three projects with about 1,700 apartments, meeting only 9% of demand. HCM Cit
y has seven projects with 4,996 apartments, or 19% of demand, while Da Nang has five projects with 2,750 apartments, at 43% of the need.

Notably, such provinces as Vinh Phuc, Ninh Binh, Nam Dinh, Long An, and Quang Ngai haven’t had any projects launched since 2021, according to the official.

Facing that fact, the MoC has frequently urged localities to promote the development of social housing and publicise the projects eligible for soft loans so as to meet the plan’s target, Sinh added./.

Source: Vietnam News Agency

Petrovietnam posts growth in various production fields last month

Hanoi: The Vietnam Oil and Gas Group (Petrovietnam) said it recorded growth in multiple production aspects in January compared to the previous month and the same period last year.

At a recent meeting on production and business tasks of the first quarter, Deputy General Director of Petrovietnam Le Xuan Huyen said that the State-owned firm fulfilled most of the targets for January and saw year-on-year increases.

The crude oil output reached 865,000 tonnes, up 2.8% from the target and 1.5% from last December. The gas production stood at 552 million cu.m, up 8.7% month on month and 1.4% year on year. Meanwhile, the electricity output rose 18.4% from the previous month and 35% from a year earlier to 2.23 billion kWh.

About 640,200 tonnes of petrol and oil was manufactured (excluding products of the Nghi Son Refinery and Petrochemical LLC), 43.1% higher than the target and rising 2.9% month on month and 9.2% year on year. Nearly 161,000 tonnes of fertiliser was produced, up 5.1% from the target, 1.9% from Decemb
er, and 1% from January last year, statistics show.

As a result, Petrovietnam also saw its financial indexes higher than planned, Huyen noted, elaborating that its total revenue approximated 69 trillion VND (2.8 billion USD), up 17% from the target and 14% year on year.

It contributed 9.9 trillion VND to the state budget, rising 19% from the target and 13% year on year, he added.

Chairman and General Director of Petrovietnam Le Manh Hung said as production and business activities are predicted to continue facing difficulties in the time ahead, the group will stay updated with the macro-economic situation, make analysis and assessment, seek ways to renew old impetuses, and add new drivers for its development./.

Source: Vietnam News Agency