Shrimp exports to the US are expected to recover in the remaining months of this year thanks to anti-dumping tariff reductions.
The US Department of Commerce (DOC) has released the final results of the 9th period of review (POR 9) on anti-dumping tariffs imposed on Vietnamese frozen shrimp products from February 1, 2013 to January 31, 2014.
Accordingly, the average tariff dropped slightly to 0.91 percent from 0.93 percent as announced in the preliminary results in March 2015 but sharply from the 6.37 percent imposed in the POR 8.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Minh Phu Seafood Corp bears the highest rate at 1.39 percent (this figure has been cut from the preliminary outcomes of 1.5 percent), Thuan Phuoc Corp at 1.16 percent (higher than the preliminary outcomes of 1.06 percent) and Sao Ta Foods JSC at zero percent.
Secretary-General of the VASEP Truong Dinh Hoe said the reduction in tariffs is partly due to the DOC calculation of the tariff rates based on appropriate data from three countries: Bangladesh, India and Indonesia.
With the new rate, Vietnamese shrimp exports to the US are expected to thrive after a remarkable 50 percent fall in the first eight months of this year.
Furthermore, contending with similar products, the reduction will help the shrimp industry to increase its competitiveness in the US market as many Vietnamese rivals such as India and Thailand are bearing higher tariff rates at 2.96 percent and 1.1 percent, respectively.
However, it is difficult to forecast the exact shrimp export outcomes in the remaining months of this year due to complicated consumption trends and exchange rates, Hoe said.
He added that the shrimp sector is facing competition from several countries, such as Indonesia and Ecuador, which do not have any anti-dumping tariffs.
The US is the biggest importer of Vietnam shrimp, spending 370 million USD from January-August 2015.-VNA
Shrimp exports to the US are expected to increase in the last months of 2015 due to low tariffs and high supply, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnamese shrimp exports to the United Kingdom have registered a strong growth even as shrimp exports to the European Union have been registering a declining trend since early this year.
Experts advised shrimp farmers to produce high-quality products with competitive prices to weather the current declining exports during a workshop in Ho Chi Minh City on August 24.
The US Department of Commerce on September 7 announced its final decision on the results of its ninth administrative review for anti-dumping duties on frozen shrimp imported from Vietnam.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Illustration Image. Photo: VNA
