The garment-textile sector has grossed over 36 billion USD in export turnover this year, up 16.01 percent against the previous year, heard a conference in Hanoi on December 14.
With its annual stable growth rate of about 10 percent, the country’s young population with increasing income and a trend to consume ready-to-eat food, especially organic, the food processing industry offers many opportunities for investors.
Korean entrepreneurs consider Vietnam a key for the future of the Republic of Korea, said Choi Bong-sik, Chairman of the World Overseas Korean Traders Associations (OKTA).
Vietnam expects that the International Monetary Fund (IMF) will continue cooperating closely with the country and provide it with more assistance, training and policy consultancy, said a senior Party official.
Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment.
Deputy Prime Minister Vu Dam chaired a meeting on December 12 in Hanoi to review five years of implementing Resolution 19 regarding the enhancement of the business environment and national competitiveness, as well as measures to boost its efficiency in 2019.
Vietnamese companies need to improve their production technologies and strengthen linkages with foreign companies to improve their competitiveness in both domestic and overseas markets, a seminar heard in Ho Chi Minh City on December 12.
The Asian Development Bank (ADB) has approved a 78-million-USD financing package to help Vietnam’s labour force meet market demands by improving the quality of national technical and vocational education and training (TVET) institutions.
Cooperation and connectivity in the Association of Southeast Asian Nations (ASEAN) have seen improvements in 2018 under Singapore’s chairmanship, which was themed “Resilience and Innovation”.
The World Bank (WB) expects Vietnam’s economic growth this year at nearly 6.8 percent, compared to the 6.3 percent projected for East Asia and the Pacific, in a report released on December 11.
Deputy Prime Minister Vuong Dinh Hue called on Singapore’s Clermont Group to share its experience with and provide consultations for Vietnam in building and developing an ecosystem for fintech and digital banking.
The northern mountainous province of Hoa Binh should bring into play the full potential of its land, people and culture to become a tourism locality, Prime Minister Nguyen Xuan Phuc said in a working session with local officials on December 11.
The growth of vegetable and fruit exports slowed down significantly this year but the target of reaching 10 billion USD in revenue in 2025 was still within reach, according to the Ministry of Agriculture and Rural Development (MARD).
To increase the value of coffee beans and gain higher economic profits, Vietnam should focus investment in the deep processing industry and in technical production solutions, said experts at an international seminar on sustainable development for the Vietnamese coffee sector.
The southernmost province of Ca Mau has devised various measures, including boosting trade promotion activities, to expand and adjust the structure of its export markets, towards realising its target of earning 1.2 billion USD from exports in 2019.
Vietnam always creates favourable conditions for foreign businesses, especially those from the US like Google, to do business in the country, said Nguyen Van Binh, head of the Party Central Committee’s Economic Commission.
Hanoi has set 24 goals for 2019, with one in budget collection and spending, 22 in socio-economic development and the last in personnel work.
Prime Minister Nguyen Xuan Phuc has approved a master plan on use of information technology in promoting tourism from 2018 – 2020, with a vision to 2025.
