The Industry and Trade Press Review on June 28, 2017
I. Management of Fertilizer and Agricultural Challenges
- Counterfeit Issues: Specifically, fake and low-quality fertilizer is currently devastating the agricultural sector.
- Administrative Failures: Furthermore, authorities in Đăk Nông are reportedly shifting responsibility when farmers complain.
- Regulatory Conflict: Moreover, the management split between the Ministry of Industry and Trade and the Ministry of Agriculture causes confusion.
- Corruption Concerns: Consequently, some experts suggest that “group interests” may be protecting these illegal traders.
II. International Trade and Export Growth
- Australian Market: Regarding trade, the Ministry is removing barriers to enter Australia.
- Positive Growth: Notably, vegetable exports to Australia grew by 27.7% annually due to the AANZFTA agreement.
- Seafood Success: In addition, Australia has decided to continue importing processed shrimp from Vietnam.
- Global Relations: Meanwhile, Vietnam is strengthening economic ties with Belarus and China.
III. Macroeconomics and Foreign Investment
- FDI Records: Specifically, Foreign Direct Investment (FDI) reached over $19.2 billion in six months.
- Positive Outlook: Therefore, this signal suggests that 2017 could set new investment records.
- Trade Balance: However, the national trade deficit remains within a manageable range.
- Growth Needs: Finally, experts emphasize that Vietnam must grow faster to catch up with regional neighbors.
IV. Energy, Petroleum, and Electricity
- Field Earnings: Regarding oil, Vietsovpetro earned nearly $18 million from the Thiên Ưng field.
- New Contracts: Furthermore, PV Drilling signed six contracts to provide services for Rosneft.
- Strategic Role: Clearly, the Vietnam Oil and Gas Group (PVN) remains a core pillar of the economy.
- Clean Energy: In addition, clean energy investment is now considered a vital trend for sustainable development.
V. Industrial and Domestic Market Trends
- Automobile Imports: Regarding industry, car imports from Thailand and Indonesia are rising sharply.
- Market Price Volatility: Conversely, the domestic market faces price drops for pork, pumpkin, and dragon fruit.
- Fraud Alerts: Specifically, authorities warned that Chinese plums are being sold with Vietnamese labels.
- Consumer Protection: Lastly, the government is closing illegal multi-level marketing firms and stopping “fake” promotions.
