Business fields in VN benefit from US-China trade war
VietNamNet Bridge - The trade war is facilitating the development of a number of business fields in Vietnam. 


vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, trade war, seafood, Vinh Hoan JSC


Ports

The bustling import/export activities and increased volume of goods are behind the optimistic forecasts about the operation of ports and logistics firms, according to HCM City Securities (HSC).

Analysts also believe the trade war would help drive FDI (foreign direct investment) flow to Vietnam, and that manufacturers in Northeast Asia have shown interest in Vietnam.

KIS Securities has predicted that goods output through Vietnam’s ports may increase by 10-13 percent per annum thanks to FTAs (free trade agreement) and FDI.

The volume of goods going through ports in the first half of 2018 reached 254.8 million tons, increasing by 17 percent compared with the same period last year, according to Vinamarine.

Air transport

The US-China trade war focuses on technological products. Therefore, analysts believe it would bring opportunities to Vietnam to increase the production and assembling of technological products. 

It is expected that the aviation service sector would witness the growth rate of 17 percent per annum from now to 2020. This will give opportunities for businesses in the field, such as SCS, Noi Bai Cargo Terminal Services and Tan Son Nhat Cargo Services and Forwarding to develop.

Industrial parks (IZ)

As foreign companies tend to relocate their factories to Vietnam to avoid the heavy tax imposed by the US administration on goods from China, the demand for workshops in IZs will be increasing.

As foreign companies tend to relocate their factories to Vietnam to avoid the heavy tax imposed by the US administration on goods from China, the demand for workshops in IZs will be increasing.

FDI capital keeps flowing to Vietnam, and the projects in manufacturing, processing and hi-tech fields are mostly heading for Bac Ninh, Hai Phong and Bac Giang provinces. 

The trend will benefit IZ developers, including the Kinh Bac Urban Development Company which owns a lot of IZs in the north.

Textiles & garments

According to Bao Viet Securities, Vietnam, Bangladesh and Cambodia, the countries with a competitive edge in the industry, may obtain more orders as US importers will restrict imports from China to avoid high taxes.

Vinatex, Vietnam’s biggest textile & garment producer, believes that 20 types of products of Vietnam would have bigger opportunities in the US market.

Seafood

HSC predicted that Vietnam’s seafood companies will benefit once Chinese exporters are excluded from the US market. The opportunities are bigger for catfish exports.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the value of catfish exports to the US reached the highest level in July, nearly $58.5 million, or 30 percent of catfish export turnover. Vinh Hoan JSC is the biggest catfish exporter, accounting for 30 percent of catfish exports.


RELATED NEWS

US-China trade war spreads to Vietnam

Two-way impacts from the US-China trade war


Mai Chi


vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, trade war, seafood, Vinh Hoan JSC
 
*
*
*
  Send