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Vietnam aims for 454 billion USD export revenue amidst global headwinds

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Vietnam exported 65.2 billion USD worth of products in January-February, a 9.9 per cent increase compared to the same period last year. Meanwhile, imports totaled 62.9 billion USD, rising 16 per cent, resulting in a trade surplus of 235 million USD.

Vietnam aims for 454 billion USD export revenue amidst global headwinds
At SOWATCO port in Thu Duc city. (Photo: VNA)

Hanoi – Vietnam has set an ambitious export target of 454 billion USD for 2025, a 12 per cent year-on-year increase, despite recent signs of deceleration in exports due to global economic pressures.

Many experts believe that achieving this goal will require decisive actions from regulatory bodies and extraordinary efforts from businesses to overcome obstacles.

According to data from the Ministries of Finance and Industry and Trade, Vietnam exported 65.2 billion USD worth of products in January-February, a 9.9 per cent increase compared to the same period last year. Meanwhile, imports totaled 62.9 billion USD, rising 16 per cent, resulting in a trade surplus of 235 million USD.

Nguyen Anh Son, Director General of the Ministry of Industry and Trade (MoIT)’s Agency of Foreign Trade, identified key challenges to Vietnam’s exports, including its dependence on major markets like the US, the EU, and China. This reliance increases risks for businesses and makes the country vulnerable to global economic and political fluctuations.

Additionally, Vietnamese exports still fall short of international standards, making them less competitive as consumers increasingly demand quality and sustainability. Son also pointed out infrastructure constraints, particularly the discordant investment in seaports and transport systems, which result in high shipping costs and extended delivery times.

According to Son, insufficient market intelligence has left many companies struggling with production planning. Moreover, trade tensions between Vietnam’s largest trading partners could present both opportunities and challenges for exporters.

Do Ngoc Hung, head of the Vietnam Trade Office in the US, stated that these trade tensions could benefit Vietnam if the country manages to capture market share, but cautioned that businesses must navigate carefully. Enterprises must fully cooperate with US authorities during trade investigations and remain cautious with raw materials from countries subject to US tariffs to avoid allegations of origin fraud, Hung said.

Meanwhile, Vietnamese trade counselor in China Nong Duc Lai noted that the US-China trade tensions could shift investment flows to Vietnam, creating greater opportunities for Vietnamese businesses to integrate into global production chains.

To mitigate market impacts, Lai recommended that Vietnamese businesses closely monitor developments and policies from major trading partners, make timely forecasts and responses, and develop contingency plans for scenarios such as increased tariffs or supply chain disruptions. He also suggested diversifying export markets and enhancing product competitiveness and quality to expand market reach.

The MoIT has issued a directive outlining several solutions to develop markets, promote exports, and manage imports this year. The ministry advised businesses to closely track market developments, while Vietnamese trade offices abroad will continue updating industry associations on policy changes so businesses can adjust production plans and seek new orders accordingly. Efforts will also focus on exploring new markets, such as the Middle East and Halal markets.

Experts emphasised the importance of capitalising on free trade agreements, accelerating negotiations for new and upgraded pacts, and ensuring the domestic implementation of international commitments. Additionally, training on rules of origin for enterprises, along with efforts to combat origin fraud, improve logistics services, and promote digitalisation to streamline business operations, should be prioritised.

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Central Vietnam province to clear sites for LNG projects in May, for operation in 2028

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Vietnam’s south-central province of Binh Thuan aims to complete site clearance for major LNG power plant projects by May 15, towards operation in 2028.

Nguyen Hoai Anh, chief of Binh Thuan’s Party Committee, made the site clearance requests for three projects, namely Son My I power plant, Son My II power plant, and Son My LNG terminal, at a Monday meeting.

Nguyen Hoai Anh, chief of Binh Thuan's Party Committee, speaks at a meeting in Binh Thuan province, south-central Vietnam, March 17, 2025. Photo courtesy of Binh Thuan news portal.

Nguyen Hoai Anh, chief of Binh Thuan’s Party Committee, speaks at a meeting in Binh Thuan province, south-central Vietnam, March 17, 2025. Photo courtesy of Binh Thuan news portal.

The 2028 deadline is in line with the government’s request of speeding up the progress of LNG-fired power projects towards completion and operation in 2028, earlier than the deadline specified in the power development plan VIII (PDP VIII).

The $1.34 billion Son My LNG terminal was given an in-principle nod by provincial authorities in 2023. The 3,500-hectare project serves as the storage site for Son My I and Son My II power plants and is set to enter operation in the first quarter of 2027.

So far, local authorities have completed the approval of site clearance for 60.77 out of 69.01 hectares requested for the projects, or 99.06%.

The 2,250 MW Son My II was given in-principle approval by the Ministry of Industry and Trade in 2022 per public-private partnership (PPP) format.

Covering 93.5 hectares, the $2.1 billion project is now finalizing a feasibility study report for submission to the Ministry of Industry and Trade, towards operation in 2028.

The project is invested by the United States-headquartered AES.

The 2,250 MW Son My I received an in-principle nod from the trade ministry in 2021 per build-operate-transfer (BOT) format. Covering 88.3 hectares, the $2.2 billion project is now submitting a feasibility study report to the ministry for approval, towards operation in 2028.

The project is invested by France’s Electricite de France SA (EDF), Japan’s Sojitz and Kyushu Electric Power, and Vietnam’s Pacific Corporation.

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Winning Chinese Tourists: Insights from SCCCI x FY Ads x Meituan Dianping Event

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Singapore’s tourism and retail industries are undergoing a transformation, with Chinese tourists increasingly relying on digital platforms like Meituan Dianping and Xiaohongshu to plan their trips.

SINGAPORE, March 18, 2025 /PRNewswire/ — Singapore’s tourism and retail industries are undergoing a transformation, with Chinese tourists increasingly relying on digital platforms like Meituan Dianping and Xiaohongshu to plan their trips. Recognizing this shift, FY Ads—the leader in cross-border marketing and the official overseas partner of both Meituan Dianping and Xiaohongshu—partnered with the Singapore Chinese Chamber of Commerce & Industry (SCCCI) and Meituan Dianping to host an exclusive industry event aimed at helping local businesses capitalize on this opportunity.

A Landmark Event for Singapore Businesses

On February 26, 2025, business leaders from Singapore’s F&B, retail, and hospitality sectors gathered at the SCCIOB Theatre for an insightful session on how to leverage Meituan Dianping to attract and convert Chinese tourists into loyal customers. The event, featuring expert speakers and real-world case studies, provided attendees with actionable strategies to enhance their digital presence and drive foot traffic.

Key Takeaways from the Event

1. Why Digital Trust is Crucial for Chinese Consumers
FY Ads’ CEO Linda Chen emphasized that Chinese tourists prioritize online reviews and trusted digital platforms, with research showing that 92% of Chinese travelers rely on online recommendations before making travel decisions. Unlike Western travelers, they rarely make spontaneous decisions, instead relying on user-generated content and social proof from platforms like Meituan Dianping and Xiaohongshu.

2. The Power of Meituan Dianping in Influencing Chinese Tourists
Hana Zhang, Global Business Director at Meituan Dianping, shared exclusive insights into how over 80% of Chinese tourists research their travel destinations on Meituan Dianping before arrival. With millions of active users searching for dining, shopping, and lifestyle recommendations daily, businesses with optimized Meituan Dianping profiles enjoy significantly higher visibility and sales.

3. Proven Success Stories: How Singapore Brands Are Winning on Chinese Platforms
The event highlighted real-world success stories, featuring brands like Raffles Hotel, TWG Tea, Dian Xiao Er, and Song Fa Bak Kut Teh, which have successfully engaged Chinese tourists through Meituan Dianping. Many businesses have seen a 30-50% increase in foot traffic and revenue by using digital strategies tailored to the Chinese market.

4. A New Era for Singapore’s Tourism & Retail Sectors
As Chinese inbound tourism continues to grow in 2025, businesses that fail to establish a presence on key Chinese platforms risk missing out on a massive consumer base. The event made it clear that adapting to the digital habits of Chinese travelers is no longer optional—it’s essential for sustained growth.

Businesses that act early will gain a first-mover advantage, securing brand loyalty among Chinese tourists before competitors catch up.

FY Ads: The Leading Cross-Border Marketing Agency

As the leader in cross-border marketing and the official overseas partner of Meituan Dianping and Xiaohongshu, FY Ads stands out by offering exclusive access to insider platform analytics, direct integration capabilities, and customized marketing solutions that help businesses achieve measurable growth in the Chinese market. Unlike other agencies, FY Ads provides direct partnerships, exclusive insights, and proven strategies to ensure maximum visibility and engagement for businesses targeting Chinese consumers.

“Our goal is to bridge the gap between Singapore businesses and Chinese tourists through the platforms they trust most,” said Linda Chen, CEO of FY Ads. “By leveraging our partnerships with Meituan Dianping and Xiaohongshu, we empower businesses to increase visibility, engagement, and revenue in the Chinese market.”

The Future of Chinese Tourism in Singapore

With Chinese tourism on the rise, businesses must act now to establish a strong presence on Meituan Dianping and Xiaohongshu. Don’t wait—early adopters will gain the first-mover advantage in capturing this growing market. Those who embrace digital-first strategies tailored to Chinese consumers will dominate the post-pandemic tourism boom.

For companies looking to maximize their reach and revenue, FY Ads offers expert consultation and execution strategies tailored to these platforms. Now is the time to act—businesses that take initiative today will be at the forefront of the booming Chinese tourism market.

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Illuccix® Approved for Prostate Cancer Imaging in Brazil: First Marketing Authorization in Latin America

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Telix Pharmaceuticals Limited today announces that the Brazilian Health Regulatory Agency has approved Illuccix® the Company’s lead prostate cancer imaging agent.

MELBOURNE, Australia and PORTO ALEGRE, Brazil, March 18, 2025 /PRNewswire/ — Telix Pharmaceuticals Limited (ASX: TLX, Nasdaq: TLX, Telix, the Company) today announces that the Brazilian Health Regulatory Agency (Agencia Nacional de Vigilancia Sanitaria or ‘ANVISA’) has approved Illuccix® (kit for the preparation of gallium-68 (68Ga) gozetotide injection) the Company’s lead prostate cancer imaging agent. Illuccix® is the first and only PSMA-PET[1] prostate cancer imaging agent to receive full regulatory approval in Brazil.

Illuccix®, after radiolabeling with 68Ga, is a radioactive diagnostic agent indicated for positron emission tomography (PET) of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer:

  • With suspected metastasis who are candidates for definitive initial therapy treatment, and
  • With suspected recurrence based on an elevated specific antigen (PSA) level in the serum.

The marketing authorization is granted to Telix’s partner R2PHARMA, Brazil’s leading cold kit manufacturer, nuclear pharmacy and cyclotron network, and a subsidiary of GSH Corp Participações S.A. (Grupo GSH). Telix has provided Grupo GSH with an exclusive license to manufacture, distribute and market Illuccix® in Brazil[2].

PSMA-PET is a diagnostic technology demonstrated to detect advanced prostate cancer. ANVISA becomes the latest regulatory body worldwide to approve Illuccix®[3], which is already commercially available in Australia, Canada, New Zealand and the United States, and has recently been approved in the United Kingdom and in multiple countries within the European Economic Area (EEA).

Dr. Sérgio Altino de Almeida, nuclear medicine specialist, at Rede D’Or, the largest integrated healthcare network in Brazil said, “The ANVISA approval of Illuccix provides access to advanced prostate cancer imaging for men across Brazil, a large and rapidly growing market for gallium-68 based radiopharmaceuticals. The ‘cold kit’ format with generator-produced gallium will facilitate broad equity of access for men living with prostate cancer, regardless of whether they are based in regional, rural or metropolitan areas.”

JV to manufacture and distribute radiopharmaceuticals for clinical and commercial use in Brazil

Telix also announces a joint venture (JV) with R2PHARMA to commercialize and distribute Telix’s therapeutic and diagnostic radiopharmaceutical products in Brazil, building on the existing partnership established in 2019. The JV further strengthens this relationship with a commitment to jointly bring to market innovative and first-in-class therapeutic radiopharmaceuticals and imaging agents in Brazil.

The market for radiopharmaceuticals in Brazil is experiencing significant growth driven by the increasing prevalence of chronic diseases such as cancer, advancements in imaging technologies, and a growing senior population. Over the next decade, the Brazilian radiopharmaceuticals market is projected to reach US$330 million[4], with this growth supported by rising investments in the healthcare industry, public health awareness, and the introduction of new and advanced radiopharmaceuticals.

Under the agreement, Telix and R2PHARMA will establish a JV company in Brazil (Telix Innovations Brazil, Ltda.). Telix Innovations Brazil will hold the exclusive licence to commercialize and distribute Illuccix® as well as future product candidates from Telix’s industry-leading theranostic pipeline. Telix Innovations Brazil will leverage the local knowledge and expertise of R2PHARMA to obtain the necessary licenses and governmental authorizations in Brazil[5].

Raphaël Ortiz, CEO Telix International, added, “Telix is pleased to bring Illuccix to Brazil and Latin America, with this new imaging modality now recognized in leading clinical practice guidelines and already being adopted in other parts of the world. We would like to acknowledge our partner R2PHARMA for their commitment to gallium-based PSMA-PET and the hope this brings for men living with prostate cancer in Brazil. The JV takes our collaboration to the next stage with the aim to address unmet need for therapeutic and diagnostic radiopharmaceuticals across a range of disease areas.”

R2PHARMA Nuclear Medicine & Innovation Vice-President, Rafael Madke, continued, “We are delighted to have been granted this marketing authorization for Illuccix in Brazil. The combination of Telix’s innovative theranostic pipeline and R2PHARMA’s manufacturing and distribution capabilities will support widespread access for patients and physicians to Illuccix and future additional products that until now have not been available in Latin America.”

For more information visit: http://r2pharma.com.

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