Great potential for Vietnam to develop billions-USD ginseng industry: President
Vietnam has high potential to develop a ginseng farming and processing industry that generates billions of USD, stated President Nguyen Xuan Phuc at the opening of the Lai Chau Ginseng Fair 2022 in the northern mountainous province of Lai Chau on November 11.
President Nguyen Xuan Phuc visits a booth at the fair (Photo: VNA)
Lai Chau (VNA) - Vietnam has high potential todevelop a ginseng farming and processing industry that generates billions ofUSD, stated President Nguyen Xuan Phuc at the opening of the Lai Chau GinsengFair 2022 in the northern mountainous province of Lai Chau on November 11.
The leader highlighted Lai Chau's advantages inginseng development and its high economic value, and asked the province topreserve its gene sources and to support farmers in farming techniques.
He underlined the need to provide strongassistance to localities in implementing the ginseng development strategy,asking the Government and the Ministry of Agriculture and Rural Development topay greater attention to preserving the varieties and making a planning for itsdevelopment.
The President pointed to the need to ensure thesustainable development of the industry and high quality of the product, aswell as the application of high technologies in farming and processingactivities.
Ginseng development must go in line with forestprotection, he underscored, asking Lai Chau to support people from ethnicminority groups in ginseng farming, thus helping them get rid of poverty.
The three-day Lai Chau Ginseng Fair aims topopularise the potential and strengths in ginseng development and policies toencourage the investment in the industry, and provide investors withopportunities to cooperate with local farmers in the field.
Ginseng is a typical herb of Lai Chau, found at aheight of 1,400-2,200m above the sea level.
Initial research results show that Lai Chauginseng has a very high Saponin content of up to 21.34%. Particularly, it has7.78% of Majonoside - R2(MR2), an anticancer active ingredient, along withanticoagulant substance silphioside E.
Lai Chau ginseng has received a plant varietiesprotection certificate by the Ministry of Agriculture and Rural Development.
Currently, Lai Chau has 38,000 hectares of areasuitable for ginseng farming. The province has developed more than 100 hectaresof ginseng farms in Muong Te, Sin Ho, Phong Tho, and Tam Duong districts.
At the event, President Phuc presented ginsengseedlings to local farmers. Minister of Agriculture and Rural Development LeMinh Hoan handed over the Plant Variety Protection Certificate for Lai ChauGinseng to Lai Chau province, while Minister of Science and Technology HuynhThanh Dat gave the province a decision to accept a valid Lai Chau GinsengCertification Trademark./.
The Middle East, North Africa and South Africa are potential markets for tea products from Lai Chau province but their export is still modest due to a lack of information on each other and effective connections, Deputy Foreign Minister Pham Quang Hieu has said.
Lai Chau mountainous province is investing in upgrading and renovating its typical mountain markets with an aim to draw in fresh tourism numbers. The idea is to also help smooth out market operations, increase goods traded to improve the economy, and ease spiritual lives to help promote markets and their unique cultural identities.
Human rights are becoming an increasingly important issue in global political life and one of the three pillars of the United Nations' activities along with peace and security-development.
President Nguyen Xuan Phuc attended the festival of great national unity in communes of Khong Lao, Muong So, Hoang Then in Phong Tho district, the northern mountainous province of Lai Chau on November 11, on the occasion of the 92nd anniversary of Traditional Day of Vietnam Fatherland Front (November 18).
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
President Nguyen Xuan Phuc visits a booth at the fair (Photo: VNA) 
