Vietnam oil, gas firms post mixed business results despite higher crude prices phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.
| Publication date 06 April 2021 | 21:56 ICT
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Vietnam oil, gas firms expect good Q1 results on higher crude prices
Tue, 6 April 2021
Many Vietnamese companies in the oil and gas field might post positive results in the first quarter of 2021 thanks to the strong rally of crude oil in the international market.
As of March 31, crude prices rose more than 23.6 per cent. It even broke over $70 a barrel last month.
The gain received support from lower global oil stocks. The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed to extend production curbs, and supply from the US was estimated to fall four million barrels a day.
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Vietnamese fruit and vegetable sector targets export revenue of $10 billion
The agricultural sector has determined to improve quality to meet import market standards and achieve the export target of US$10 billion by 2030.
Dang Phuc Nguyen, general secretary of the Viet Nam Vegetables Association, said that new-generation free trade agreements (FTAs) such as the EU-Viet Nam Free Trade Agreement (EVFTA); the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); or Regional Comprehensive Economic Partnership (RCEP) were helping pave the way for Vietnamese businesses to increase fruit and vegetable export turnover this year.
Vietnam oil, gas firms expect good Q1 results on higher crude prices phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.
investment licences with total registered
capital of 3.31 billion USD, a year-on-year fall of 33.9 percent.
Meanwhile,
115 existing projects adjusted their investment capital with a total additional
sum of 1.61 billion USD, or 2.5 times higher than the same time last year.
Capital contributions and shares purchases by foreign investors stood at 543.1
million USD, down 34.4 percent.
Foreign investors pumped capital in 17 sectors, with processing and manufacturing holding the lead with over 3
billion USD or 55.7 percent, followed by power production and distribution with 1.44 billion
USD (26.5 percent), real estate 485 million USD, and science-technology nearly 153 million
USD.
Japan topped the list of 46 countries and territories landing investment in