Prime Minister Nguyen Tan Dung has approved the conversion of the failed Ca Na Steel Processing Zone in the southern central province of Ninh Thuan to an industrial zone by 2015. Earlier in February, the premier granted the request of the Ninh Thuan Province People’s Committee to close down the steel processing project since its investors had not followed some of the project’s terms.

The Middle East includes 16 countries - Turkey, Lebanon, Israel, Syria, Jordan, Iraq, Kuwait, Iran, Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Oman, Yemen, Palestine and Northern Cyprus. With the exception of Israel, most of the remaining countries are Islamic. The Middle East is home to two-thirds of the world's oil reserves. With a population of about 280 million and a high per capita income, the Middle East is a high-consumption and highly-solvent market.

As much as 90 percent of Vietnamese agricultural exports are preliminarily processed products and are priced 5-10 percent lower than similar foreign products. Workers process cashew nuts for export at a factory in Vietnam.According to the ministry, there are many shortcomings in producing agricultural products of high added value.

Textile, seafood and electronic industry are Vietnam’s three leading export sectors thanks to their significant turnover last year. However, the heavy reliance on imported materials and low competitiveness see their return rate remain low.

Since March, vegetable farmers in the Central Highlands province of Lam Dong have been suffering great losses as vegetable prices have gone down by as much as 70 percent. Tomatoes are now being sold to traders at VND1,000/kg, down by 50 percent compared to March. The same is true for green beans and chayote.

Dong deposit interest rates are still capped at 14 percent a year at the moment, the State Bank of Vietnam (SBV) has confirmed in a recent dispatch to its branch in southern Tien Giang Province.

The country’s exports earned 7.3 billion USD in April, down by 150 million USD from the previous month, according to the Ministry of Industry and Trade (MoIT).

Vietnam’s domestic pepper price has reached its highest rate ever at VND120,000 (US$5.7) a kilogram, Vietnam Pepper Association (VPA) announced at its annual conference in Ho Chi Minh City yesterday.

Vietnam International Trade Fair (Vietnam Expo 2011), due to open in Hanoi on April 6, will promote both major hard currency earners and policy in favour of exports and foreign direct investment (FDI).

The Vietnam International Home Decor and Gift Fair "LifeStyle Vietnam 2011" which will be held during 18-21 April 2011 in Hochiminh City, Vietnam by The Vietnam Handicraft Exporters Association (Vietcraft) and the Vietnam Trade Promotion Agency (Vietrade).

The Vietnam International Fashion Fair (VIFF 2010) opened in Hanoi on November 16, attracting close to 100 local and foreign businesses. With a total area of 7,000 sq.m, the fair is showcasing products in such areas as garment, footwear, materials, cosmetics and bags at its 300 booths. The fair, jointly organised by the Vietnam Garment Textile Group (Vinatex), the Vietnam Textile Apparel Association (Vitas) and the Vietnam Advertisement Fair Exhibition JSC (Vietfair), offers a chance for businesses to boost trade and investment as well as promote their trademarks. According to Deputy Minister of Industry and Trade Ho Thi Kim Thoa, Vietnam’s garment export turnover is expected to exceed 10.5 billion USD this year./. Source: Vnplus

Logistics services businesses need to have well-trained human resources and modern information technology systems to increase the competitiveness of the local industry, experts have said.

With global demand for rice expected to rise, 2011 is likely to be a good year for Vietnamese rice exports although an opening up of the grain market in line with trade commitments will pose new challenges to exporters.

The country's seafood exports topped US$320 million in January, up 2.3 per cent year-on-year, according to the Ministry of Agriculture and Rural Development's Directorate of Fisheries.

World Trade Organisation (WTO) membership has brought mixed blessings for the country's agricultural sector, according to officials.