Domestic private enterprises in the southern province of Dong Nai earned nearly 5.8 billion USD from export activities in 2022, a record so far, according to the provincial Department of Industry and Trade.
The Vietnam Trade Office in Beijing, its chapters and trade promotion offices in other Chinese localities have worked hard to support Vietnamese businesses to access and fully exploit the Chinese market in various forms, towards further promoting exports to the country, said Commercial Counselor at the Vietnamese Embassy in China Nong Duc Lai.
Over three years since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect, Vietnam’s exports to member economies, especially Canada, Mexico and Peru have significantly increased, showing high adaptation capacity of domestic firms.
Vietnamese businesses will be provided with consultation on boosting their exports to markets joining the Regional Comprehensive Economic Partnership (RCEP) during a session to be held by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade in collaboration with Vietnamese Trade Offices in the countries on June 8.
The Ho Chi Minh City Handicraft and Woodworking Association (HAWA) plans to organise a session to give consultations to domestic businesses on exporting furniture and interior decorating products to Canada, a promising market for Vietnam, on June 7.
Domestic corporations are urged to invest more in Vietnamese startups which has mostly drawn attention from foreign venture capital investors, heard at a talk on investment prospects in the innovative startup market in Ho Chi Minh City.
Nearly 10 percent of Vietnamese firms lack capital and money for their business, especially micro-, small- and medium-sized enterprises (MSMEs), because of the lingering COVID-19 pandemic, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen Quang Vinh has said.
The Ministry of Industry and Trade has called for concerted solutions to maintain market stability, remove difficulties facing domestic firms, and increase the total retail sales of goods and services.
Industry was the fastest growing sector and the largest contributor to Vietnam’s export revenue over the last decade, making up roughly 30 percent of the annual GDP, Minister of Industry and Trade Tran Tuan Anh told the on-going 13th National Party Congress on January 28 morning.
Domestic firms in the southern province of Dong Nai are finding it hard to join the supply chain providing products to the support industry, according to the local People’s Committee.
Chairman of the People’s Committee of northern Bac Giang province Duong Van Thai has pledged to adopt measures easing difficulties faced by local businesses amid the complicated development of COVID-19 outbreak.
Vietnam is seeking to develop its information and communications technology industry (ICT) with a focus on domestic firms to make it a key economic sector in the next decade, according to experts.
Exports by domestic businesses have increased at a faster pace than that by foreign invested ones between January and October, according to the General Statistics Office (GSO).
The merger and acquisition (M&A) scene in Vietnam has become increasingly active with more domestic firms setting up ties with global partners so their brands can reach global customers and develop domestically.
As much as 3.63 billion USD of foreign direct investment (FDI) capital was poured into Ho Chi Minh City in the first seven months of this year, an annual rise of 15.2 percent, according to the municipal People’s Committee.
Cross-border e-commerce platform Fado Vietnam and its Chinese counterpart Alibaba signed a cooperation agreement on March 14 in Ho Chi Minh City to launch a new trading channel supporting Vietnamese firms, especially small- and medium- sized enterprises (SMEs).
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