Vietnam seeks to further tap into world bamboo markets
The Vietnamese agriculture ministry is speeding up groundwork for the establishment of a national bamboo association to boost the country’s exports of related products.
At a conference on bamboo materials and products in Hanoi Thursday, the ministry (MARD) said it was working with other bodies to form the association as early as possible.
The global bamboo product market size is expected to reach $83 billion by 2028, opening up opportunities for Vietnam, Nguyen Thanh Huyen, coordinator of the EU-funded "Inclusive and Sustainable Clam and Bamboo Value Chains Development in Vietnam" project, told the event.
The program, better known as the SCBV project, was launched in 2018 by Oxfam, MARD, and the Vietnam Chamber of Commerce and Industry to help reduce poverty and inequality in rural areas of Vietnam through addressing challenges in the clam and bamboo value chains. Oxfam is a global confederation of more than 20 independent charitable organizations focusing on the alleviation of global poverty.
Overseas shipments of Vietnamese bamboo products currently bring about an export value of about $300-400 million a year, Deputy Agriculture Minister Tran Thanh Nam told the conference. Therefore, he encouraged farming businesses, producers and local authorities to join hands in developing large areas of bamboo cultivation so the sector could better meet overseas demand.
Bamboo, a very typical Vietnamese material, is strong, durable, flexible and hard. Vietnam currently houses nearly 1.6 million hectares of bamboo, providing 2.5-3 million tons of material annually, according to the MARD. The EU, South Korea, and Japan are the key destinations for most Vietnamese bamboo shipments.
Huyen from the SCBV project said bamboo products could replace natural wood and chemical compounds. Bamboo has earthquake-resistance capacity, and is able to prevent soil erosion, restore degraded soil, and absorb carbon, helping reduce the impact of climate change.
It also plays an important role in the livelihoods of local farmers, as the tree is currently a source of raw material for over 600 bamboo and rattan craft villages in Vietnam.
Bamboo trees can also be used to produce bamboo beer, bamboo wine, bamboo paper, and some other products, and all are potential goods in the future, said Nguyen Trong Nghia, CEO of Hanoi-based Sao Thai Duong JSC, a supplier of cosmetic pharmaceuticals and herbal foods.
As it is a clear trend that people love green and environmentally friendly products, bamboo could gain wider acceptance as a material in the future for construction, fertilizer and plastic production, he noted.
“R&D on replacing plastic seed with bamboo seed is distinct. We and our partner in Denmark have together made such R&D for six years and secured initial success. More work is being done on working out an organic adhesive for mass production later,” Nghia said without disclosing the Danish partner’s name.
In Vietnam, bamboo e-bicycles made by company Haybike have won wider acceptance. “We put Vietnamese emotion and soul into our bamboo products, which are cheaper on the domestic market than some imported equivalents,” Haybike CEO Nguyen Van Tuyen told The Investor.
Vietnam’s benchmark VN-Index dropped 22.92 points Wednesday, or 1.96%, to 19-month low of 1,143.62 points, due to broad selloffs of major stocks.
Finance - Wed, September 28, 2022 | 6:05 pm GTM+7
Deputy Foreign Minister To Anh Dung and Nguyen Quang Linh, assistant to Standing Deputy Prime Minister Pham Binh Minh, were fired Wednesday for violations related to repatriation of Vietnamese citizens during the pandemic crisis.
Politics - Wed, September 28, 2022 | 5:21 pm GTM+7
The World Bank’s investment arm IFC will assist Ho Chi Minh City authorities to assess the prefeasibility of developing an advanced waste-to-energy facility in the southern economic hub, the body said Wednesday.
Energy - Wed, September 28, 2022 | 4:25 pm GTM+7
International institutions have lowered their global 2023 growth forecasts following the Fed’s interest rate hikes. Experts fear that investment flows worldwide would leave emerging markets for developed countries. The Investor talks with Professor Nguyen Mai, chairman of the Vietnam Association of Foreign-Invested Enterprises (VAFIE), about possible impacts on Vietnam.
Executive Talk - Wed, September 28, 2022 | 3:05 pm GTM+7
The Ministry of Transport has asked state-owned Vietnam Expressway Development Investment Corporation (VEC) to consider widening Ho Chi Minh City-Long Thanh-Dau Giay Expressway to 10 lanes, instead of the eight proposed by the investor.
Infrastructure - Wed, September 28, 2022 | 2:05 pm GTM+7
Construction commenced Tuesday on the $38.5 million GNP Nam Dinh Vu Industrial Center at the Nam Dinh Vu Industrial Park in the northern port city of Hai Phong.
Industrial real estate - Wed, September 28, 2022 | 11:23 am GTM+7
Finnish company Valmet will provide Cheng Loong Binh Duong Paper Co. with key process technology for its new containerboard machine 23 at the company’s Ben Cat mill in Binh Duong province, southern Vietnam.
Companies - Wed, September 28, 2022 | 10:36 am GTM+7
The National Assembly, Vietnam’s parliament, is scheduled to pass seven draft and amended laws at its October-November session, including an amended oil & gas law and one on money laundering.
Politics - Wed, September 28, 2022 | 8:38 am GTM+7
The Ministry of Transport has asked the Prime Minister for permission to grant a license to the country’s first cargo airline, IPP Air Cargo.
Industries - Tue, September 27, 2022 | 10:45 pm GTM+7
Son Kim Real Estate Investment JSC is planning a private placement of bonds worth VND500 billion ($21 million) this week to purchase The METT office project in Ho Chi Minh City's Thu Thiem new urban area.
Finance - Tue, September 27, 2022 | 10:27 pm GTM+7
Vietnam's economic expansion can hit 7.2% this year and 6.7% next year, the highest in Southeast Asia, the World Bank says Tuesday.
Economy - Tue, September 27, 2022 | 9:45 pm GTM+7
Nguyen Quang Linh, assistant to Standing Deputy Prime Minister Pham Binh Minh, was arrested Tuesday for allegedly accepting bribes related to repatriation of Vietnamese citizens during the pandemic crisis.
Politics - Tue, September 27, 2022 | 5:06 pm GTM+7
Becamex IDC and the Confederation of Indian Industry (CII) have signed an agreement on partnership in the areas of IT, medical care, electronics, sustainable development and innovation.
Companies - Tue, September 27, 2022 | 3:27 pm GTM+7
BCG Land and Helios have signed strategic agreements with 13 top realty consultants to distribute properties of their King Crown Infinity project in both domestic and foreign markets.
Companies - Tue, September 27, 2022 | 3:26 pm GTM+7