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December, 5, 2016

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Business > Asia > Vietnam
Vietnam, the world's second-largest coffee exporter, will likely see output drop by 20 percent next year as bad weather and old trees undermine production, growers said.
 
Fall in tea exports is putting pressure on the Vietnamese tea industry to enhance product quality amid rapid international integration associated with growing harsh competition.
 
Thousands of laborers from Vietnam's northwestern provinces have worked illegally in foreign countries.
 
The business climate in Vietnam suffered from many inadequacies and shortcomings that hindered development and global integration of Vietnam-ese businesses, said Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM).
 
Vietnam allowed its currency to weaken by at least 1 percent Wednesday following the devaluation of the Chinese yuan and the expectation of a possible U.S interest rate hike.
 
The EU and Vietnam on Tuesday announced a free trade deal removing nearly all tariffs, with Brussels calling it a "milestone" on the way to a region-wide agreement with Southeast Asia.
 
Vietnam's electronics sector is becoming a force in Asia. While electronics exports from Asia rose by 17 percent between 2010-14, Vietnam's contribution ballooned by about 10 times, according to Singapore-based DBS group research.
 
As of June 20, Japan had invested US$37.7 billion in 2,661 projects in Vietnam, statistics from the Vietnamese Foreign Investment Department show.
 
The total merchandise export turnover for Vietnam was recorded at US$63.2 billion in the first five months of this year, an increase of 7.3 percent over last year's figure.
 
Vietnam is aiming to develop a Vietnamese rice brand that would become the world's leading rice by 2030, according to a project approved by Prime Minister Nguyen Tan Dung last week.
 
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