Wednesday, July 17, 2019 9:29:19 PM - Markets open
VN-INDEX 982.57 +0.46/+0.05%
HNX-INDEX 106.58 +0.73/+0.69%
UPCOM-INDEX 57.05 -0.25/-0.44%
CPTPP brings opportunities, challenges to Vietnam’s agriculture
VietnamPlus - 1/16/2019 4:26:14 PM
 (0 ratings. You must sign in to rate.)
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has recently taken effect in Vietnam, which will bring about both opportunities and challenges for many fields, including agriculture. 
Tran Van Cong, deputy head of the Agro Processing and Market Development Authority, said that Vietnamese firms will be able to expand their export markets to some of the world’s largest, as well as boost exports of high-value processed produce, making it easier to join the global supply chain. 
According to him, processed fruits and vegetables, and dairy products will face intense competition. However, the sector also has some advantages in low-cost manufacturing and low-paid workforce, along with an abundance of supply. 
In order to fully reap the benefits of the CPTPP and mitigate the impacts of possible challenges, he said the agricultural sector must step up restructuring by improving added value and sustainability, and limiting reliance on imported materials. 
Focus must be given to national, provincial, and local-level products in combination with geographical indication and the “One Commune, One Product” programme, he said. 
Meanwhile, the wood sector will benefit from preferential tax as import tax for Vietnamese wooden furniture into Canada, Mexico, and Peru has been high in the past. 
Huynh Van Hanh, Vice Chairman of the Ho Chi Minh City Handicraft and Wood Industry Association, said incentives from the CPTPP will help the sector reduce prices and improve its competitiveness. 
Vice President of the Vietnam Timber and Forest Product Association Nguyen Ton Quyen said that apart from wooden furniture, taxes for wood processing equipment will also be cut to zero, raising hopes for wood processors. 
He suggested that domestic firms improve corporate governance, technical process, and marketing.–VNA 
Read original article here
Newer News
13:04 VN, South Korea trade, investment ties on strong footing: seminar
13/07 Japanese multi-sector group to expand operation in Vietnam
12/07 CPTPP boosts export opportunities in Japan
11/07 Việt Nam’s forestry sector targets US$11 billion in export
10/07 MoIT tightens supervision to avoid trade sanctions
05/07 Investment promotion conference held in London
04/07 Deputy PM requests control of CPI
03/07 CPTPP opens up opportunities for agricultural products
02/07 Dialogue spotlights EU-Vietnam free trade, investment protection pacts
01/07 More chances for stronger Vietnam-Canada investment ties
Older News
16/01 Nearly 700 specialty products gain IP protection in 2018
16/01 Vietnam, UK discuss post-Brexit trade, investment ties
16/01 Vietnam-India trade hits 10.69 billion USD in 2018
05/01 Ministry tightens price control, market management
02/01 Việt Nam should boost trade promotion for more exports to ASEAN
02/01 Vietnam's GDP in 2018 reaches 7.08%, highest since 2011
28/12 This year’s CPI expands 3.54 percent from 2017: GSO
28/12 Tra fish exports surge to set new record
26/12 Deputy PM calls for Japanese investment in automobile, energy
26/12 Hanoi continues to be most attractive FDI destination
Newsletter Signup
Top Stories
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
VN to boost professional real estate brokers
Việt Nam's insurance industry keeps thriving in H1 2019
Market Update
Last updated at 3:09:27 PM
VN-INDEX 982.57 +0.46/+0.05%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.