Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
Aquatic exports enjoy 25 percent growth last month
The export of aquatic products recorded strong growth last month although the Russia-Ukraine crisis has disrupted shipments to the two European countries since late February and caused spikes in shipping costs and input expenses, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
 |
| The export of aquatic products recorded strong growth in March. Illustrative photo. |
In March, Vietnam exported 920 million USD worth of aquatic products, a year-on-year increase of 25 percent, VASEP reported. However, the rate reflected a slowdown after the sector posted spectacular growth of 44 percent in January and 62 percent in February.
Total shipments reached 2.4 billion USD in the first quarter of 2022, up 40 percent against the same period last year.
This was attributed to the impressive recovery of tra fish exports which expanded 88 percent to hit 646 million USD during the period on the account of surging demand from major markets, such as the US, China and the EU. The fish has again become a key export item, accounting for 27 percent of the total aquatic exports, the association said.
Shrimp contributed the largest export share of 37 percent in March, earning more than 345 million USD in turnover, up 21 percent. The Q1 revenue exceeded 900 million USD, up over 37 percent year-on-year.
The seafood processing sector has been struggling as soaring fuel prices, triggered by the Russia-Ukraine conflict, are imposing a heavy burden on offshore fishermen. Last month, seafood exports expanded by just below 3 percent to total 312 million USD, largely thanks to good growth (20 percent) in shipments of tuna, squid and octopus.
By the end of the first quarter, Vietnam shipped some 878 million USD worth of seafood abroad, of which 234 million USD came from tuna, up 55 percent; and 156 million USD from squid and octopus, up 35 percent. The largest growth was seen in the shipments to the US (42 percent), China (77 percent), and the EU (37 percent).
Vietnam’s aquatic exports are expected to pick up 25 percent to 934 million USD in April./.
Bài liên quan
Dành cho bạn
Đọc thêm
Lynas secures Vietnam metal processing deal with LS Eco Energy
Australian rare-earths miner Lynas has signed a framework agreement with LS Eco Energy to produce rare earth metals at a new facility in Vietnam.
Vietnam and EU seek to strengthen ties in transport infrastructure and urban development
Vietnam and the EU will enhance cooperation in transport infrastructure and sustainable urban development in the future, a meeting has heard.
Warburg Pincus eyes participation in Vietnam International Finance Centre
Global private equity firm Warburg Pincus is keen on participating in the Vietnam International Finance Centre, according to a conference held on March 23.
Novatek eyes expanded LNG cooperation in Vietnam
As Vietnam races to secure its energy future and meet the demands of its surging economy, a new partnership with a Russian energy giant is taking shape, signalling a deepening of the nations' long-standing ties.
EU to mobilise over $1 billion for major infrastructure projects in Vietnam
The European Union has launched a $46.4 million Sustainable Transport Development Fund to support large-scale infrastructure projects in Vietnam, with plans to mobilise additional financing from banks and private partners.
NIC partners with TU Berlin to boost Vietnam innovation ties
The National Innovation Centre has partnered with a leading technical university in Berlin to strengthen innovation and startup linkages between Vietnam and Germany.
ACB proposes $20 million non-life insurance subsidiary
Southern lender ACB has unveiled a formal proposal to establish a non-life insurance subsidiary as part of a strategic pivot to evolve into a comprehensive financial services provider by 2030.
