HCM City: As many as 21 Vietnamese rubber enterprises have been branded with the trademark ‘Vietnam Rubber’, which was registered for the protection of intellectual property in China, India, Taiwan (China), Laos, and Cambodia.

According to the Vietnam Rubber Group (VRG), the export of 96 products from 33 factories by these enterprises demonstrates the increasing credibility of the brand.

Tran Ngoc Thuan, Chairman of VRG Board of Directors, Vietnam’s total rubber export turnover reached an estimated 8 billion USD in the first 11 months of 2023, with the largest share held by rubber products, with nearly 3.9 billion USD. Following closely, natural rubber was estimated at around 2.5 billion USD, and rubber wood with over 1.8 billion USD.

The Association of Natural Rubber Producing Countries (ANRPC) has predicted that the global production of natural rubber in 2023 is projected to reach 14.927 million tonnes, up 2.3% year-on-year. Meanwhile, the consumption is anticipated to be 15.575 million tonnes, reflectin
g a 0.2% growth compared to 2022.

The Ministry of Agriculture and Rural Development reported that the Vietnam Rubber Association has developed a project on building and developing Vietnam’s rubber brand in 2015 – 2020 with a vision to 2030, which aims to position the brand and image of Vietnamese rubber, thus creating confidence among customers.
Source: Vietnam News Agency

Hanoi: In light of the recent incident involving the destruction of two shipments of Vietnamese durians and peppers by the Japanese authorities, the vulnerability of Vietnamese agricultural exporters remains a pressing concern.

This risk is particularly pronounced as importing markets tighten their standards for clean and green practices, necessitating a more proactive and comprehensive approach from the sector to keep its buyers and maintain a competitive edge.

Ta Duc Minh, Trade Counselor at the Vietnamese Embassy in Japan, said agricultural export businesses entering the market must fully comply with Japanese standards, emphasising the importance of ensuring product quality and avoiding violations.

The concerns over a fast and easy mentality were highlighted by the events of October 2023, where two shipments of Vietnamese durians and peppers for Japan were compelled to be destroyed due to excessive chemical residues. The importing entity, Japan Apple LLC, suffered substantial losses, with the durian shi
pment alone accounting for a loss of nearly 10,000 USD. Another incident back in September involved the recall of Vietnamese unripe durians by the company.

In response to the challenges faced by Vietnamese exporters, industry experts and insiders said there is a need for vigilance and adaptation to evolving market dynamics. A report from the Vietnam Sanitary and Phytosanitary Notification Authority said that China and the EU sent 11 notifications related to Sanitary and Phytosanitary Measures (SPS) between October 21 and November 21 this year. The EU, in particular, issued 31 warnings within the first six months of 2023, primarily related to exceeding permitted levels of plant protection chemicals in agricultural products.

Recognising the pivotal role of leading supply chain entities, they warned domestic agricultural processing companies may lose orders to competitors if they keep failing to implement sustainable commitments promptly. Despite Vietnam being among the world’s largest exporters of fruits and
vegetables, the country’s market share in the EU is currently only 0.18%, partly due to non-compliance with the bloc’s standards.

Taking the black pepper industry as an example, experts voiced their concerns over the necessity for attention to global standards. By the end of November 2023, the EU had set regulations on Maximum Residue Limits (MRLs) for 513 active ingredients on black pepper grains, with the US issuing eight. As of now, only about 60% of Vietnam’s black pepper producers met the residue requirements.

In the pursuit of sustainable development, experts said ongoing projects on pesticide residue should be based on EU and the US standards, along with traceability and initiatives for black pepper sources. The set target for the Vietnamese black pepper industry by 2025, 70% of black pepper exporters will meet the requirements./.
Source: Vietnam News Agency

Hanoi: World Bank (WB) experts have suggested several things that Vietnam should do to attract foreign investment in the stock market at the recent Inter-Agency Seminar on Unlocking the Potential of Vietnam’s Capital Markets.

According to Ketut Ariadi Kamusa, a senior financial sector specialist at the bank, the Vietnamese capital market has shown its strong growth on the back of the stable marcro economic situation.

However, he said improvements should be made in margin trading and securities blockade before transaction, foreign ownership limit, extension of foreign room, and equal access to information.

Meanwhile, Carolyn Turk, WB Country Director for Vietnam, said competent agencies should enhance coordination to develop the capital market, which holds huge potential for growth.

Besides, the upgrade of Vietnam’s stock market from a frontier to an emerging market requires close cooperation between the market regulator and the management agency of the banking sector, she said.

Chairwoman of the State Se
curities Commission (SSC) Vu Thi Chan Phuong underlined the necessity of the cooperation with the WB under the Joint Capital Markets Programme (J-CAP) amidst the rapid development of the stock market in Vietnam.

The WB has bridged the SSC with international financial institutes, helping the sides share, update and discuss the development of the market as well as efforts to remove bottlenecks and shortcomings of the market, especially the issue related to the upgrade of the Vietnamese stock market, she said.

Phuong spoke highly of the WB experts’ recommendations, and described them as a valuable source of reference to help the SSC handle challenges ahead./.
Source: Vietnam News Agency

HCM City: Nearly 100 domestic and foreign enterprises in Ho Chi Minh City – the southern largest economic hub of Vietnam – offered some 20,000 job vacancies at a job fair held in the city on December 17.

Most of the vacancies were available in the fields of garment and textile, leather shoes, sale and consultancy, product research and development (R and D), engineering, electricity-electronics and accounting, among others.

Enterprises with huge recruitment demand included Worldon Vietnam Co., Ltd. (11,000 workers), Vien Computer JSC (1,000 technicians), Dong Nam Viet Nam Co., Ltd. (800 workers), and LOTTE Vietnam Shopping JSC (1,000 workers).

PouYuen Vietnam Co., Ltd. and Lac Ty Co., Ltd. which had laid off a large amount of workers, were present at the job fair, recruiting workers to meet their production demand due to the recovery of orders.

The job fair aimed at providing labour market information, regulations on labour and preferential loan policies for workers, and connecting enterprises and recruite
rs with workers who were seeking suitable jobs. Besides, it helped promote the development of the labour market, while balancing labour supply and demand in the city./.
Source: Vietnam News Agency