Fish sauce manufacturing facilities and households in many coastal localities across Vietnam are experiencing a raw material shortage as Chinese traders have increasingly bought anchovy, the main material needed to produce the delicacy, in bulk. The mass anchovy purchase of Chinese traders has negatively impacted fish sauce makers in Phan Thiet and Khanh Hoa, confirmed Dao Minh Hai, deputy head of the Market Management Agency under the Ministry of Industry and Trade, in a press briefing on Monday. The Market Management Agency has been watching over the Chinese traders, but has yet to detect any cases in which the foreign men directly purchase and transport the seafood, he said. “They still hire local residents to buy the anchovy and transport them to China,” he explained. Hai said his agency will seek advice from the ministry to effectively curb the phenomenon. The number of foreign traders entering Vietnam to collect goods en mass has increasingly risen, and their activities are getting more complicated, the Ministry of Industry and Trade said at a meeting last month. The foreign traders, mostly from China, have been purchasing large quantities of seafood and agricultural products, helping generate jobs and income for local farmers, but some have left negative impacts on the local market, Vo Van Quyen, head of the ministry’s Domestic Market Agency, said in a statement. “Some contributed to increase in prices of agricultural products, affecting the sources of raw materials of local manufacturers, with some defaulting on their seafood purchases,” elaborated Quyen.
More
Ho Chi Minh City secondary school to start teaching in English
These classes will be attended by other teachers or school board members who can provide opinions and comments about the teaching quality
Read more
Vietnam a rising star for industrial real estate investment
Vietnam’s geographical location plays a pivotal role in its appeal to investors thanks to its proximity to major markets, including China, India, and ASEAN
17 hours agoVietnam stock market underperforms for nearly 2 decades
The Vietnamese stock market lacks new and interesting products to attract foreign investors
18 hours agoVietnam attracts nearly $12bn from global semiconductor companies
The Southeast Asian nation has over 50 integrated circuit design firms with an estimated 6,000 engineers
1 week agoVietnam budget carrier Vietjet considers wet-leasing Chinese aircraft during Tet
Key routes to be operated include Hanoi and Ho Chi Minh City to and from Con Dao
2 days agoWorld’s third-largest shipping company to invest in Vietnam e-barge project
The battery-powered barge will transport goods between Binh Duong Province and deep-sea terminal Gemalink in Ba Ria-Vung Tau Province
2 days agoHighlights
Ho Chi Minh City’s first metro line runs 200 daily trips
All 14 stations of the metro line officially opened to the public at 10:00 am
Latest news
Ho Chi Minh City’s first metro line runs 200 daily trips
All 14 stations of the metro line officially opened to the public at 10:00 am
Ho Chi Minh City consumers willing to open wallets for Christmas services
The festive vibes are filling every corner of the city
Netflix prohibited from airing TV shows in Vietnam: broadcasting department
Netflix’s service is allowed to function as a platform for film distribution via the Internet, in compliance with Vietnam's Law on Cinematography
UNESCO to study development risks to Vietnam's Ha Long Bay
The mission, which will include experts from UNESCO and the International Union for Conservation of Nature, will be deployed in the coming months
Landmark moment: Ho Chi Minh City's metro begins service
After the ceremony and other procedures, the metro line’s first trains departed at 10:00 am
International musical legends enliven Da Lat
These music legends’ performances warmed the audience up, regardless of the cold temperature at 13 degrees Celsius
JICA expects to be able to discuss policies for future cooperation projects in Ho Chi Minh City
The Ben Thanh-Suoi Tien metro line No. 1 in Ho Chi Minh City commenced commercial operations on Sunday
More than 30 dead in Brazil bus and truck collision
The packed bus collided with a truck and burst into flames
Chinese ship linked to severed Baltic Sea cables sets sail
The Yi Peng 3 had been anchored in the international waters of the Kattegat strait between Sweden and Denmark
Germany Christmas market attack: what we know about the suspect
The attack killed five people and injured some 200