After being relatively stable last year, the foreign exchange rate of the Vietnamese dong against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds.
Vietnam had a trade deficit of more than 1 billion USD with Australia last year, one year after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect.
Vietnam holds great potential in food value chain development with a large consumption market and high export values, especially as the country is a member of various free trade agreements (FTAs), heard a seminar held in Hanoi on January 14.
Authorities in the south central province of Khanh Hoa plan to improve the quality and performance of businesses in the private sector, striving to have 30,000 businesses by 2025 and 35,000 by 2030.
With the current good growth, the wood processing industry will achieve its export goal of 20 billion USD by 2025, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong at a working session with the Vietnam Timber and Forest Product Association (VIFORES) in Hanoi on January 9.
The industry and trade sector of the northern province strives to gross over 122.6 trillion VND (5.27 billion USD) in industrial production value in 2020, a year-on-year rise of 13 percent.
The fisheries sector in 2020 will focus on granting certification to brackish shrimp farms (tiger shrimp and white-leg shrimp), tra fish farms and aquaculture in cages, Director of the Directorate of Fisheries Tran Dinh Luan said.
While the world saw profound instability in 2019, the Pacific – Asia region proved to be the leading region in terms of economic integration, Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh has said.
Prime Minister Nguyen Xuan Phuc asked the industry and trade sector to strive for an export turnover of 300 billion USD next year during a conference held in Hanoi on December 27.
The European Union-Vietnam Free Trade Agreement (EVFTA) will boost the demand for logistics services and significantly impact on Vietnam's logistics industry, said a trade official.
Thailand’s exports fell for the fourth consecutive month in November, mainly due to lower prices of oil and agricultural products, a slowdown in the world economy, the US-China trade tensions, and rising baht.
Developing a farm-based economy with mass production has been defined as a key task by localities in the Red River Delta province of Bac Ninh as they look to become new-style rural areas.
The agricultural sector has surpassed many goals in 2019, it was reported at an online conference held by the Ministry of Agriculture and Rural Development in Hanoi on December 23.
The Asian Development Bank has revised up its forecast of Vietnam’s GDP growth for 2019 and 20202 from 6.8 percent to 6.9 percent and 6.7 percent to 6.8 percent, respectively, in contrary with projections for Asia.
Business
