Exports of wood and timber products surged 42 percent year-on-year to reach a record high of over 6.42 billion USD in the first five months of 2021 despite global supply chain disruptions caused by the COVID-19 pandemic, according to customs data.
Vietnam’s GDP growth is expected to rebound to 7 percent in 2021, driven by a recovery in goods and service export, resilient domestic economy, and healthy investment inflows, according to the ASEAN 3 Macroeconomic Research Office (AMRO).
With borders closed and travel restricted since early 2020, cross-border e-commerce has proved itself as a game changer, setting the scene for Vietnamese traders to climb up the global supply chain and reducing risk of disruption caused by an unprecedented crisis like COVID-19.
The Vietnam Textile and Apparel Association (VITAS) is committed to promoting the sector’s sustainable development with the aim of raising the living standards of its employees under the UN’s Sustainable Development Goals (SDGs).
Vietnam has set a goal of earning around 60-62 billion USD from agro-forestry-fisheries export by 2030 under a project recently approved by the Prime Minister.
The central city of Da Nang has set a goal of developing supporting industries in tandem with high-tech industry to create products with high added value for export.
Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19.
Payload Asia, an international magazine for air freight industry, on January 22 honoured Vietjet as ‘The Low-Cost Carrier of the Year’ and ‘The Belly Carrier of the Year’ for its outstanding cargo transportation in 2020.
Hanoi will carry out an array of industry and trade development measures with a view to building Hanoi into an international trade hub in the region and the country, as well as concretising the resolution adopted at the municipal Party Organisation's 17th congress.
Vietnam provides a typical example of people’s trust in the Government, said Prof. Dr. Vladimir Kolotov from the Ho Chi Minh Institute at the Saint Petersburg University, during a recent interview with Sputnik.
Multinationals are looking to set up their bases in Vietnam despite various challenges that the country poses as a manufacturing destination, according to the Financial Times in the UK.
Multinationals are looking to set up their bases in Vietnam despite various challenges that the country poses as a manufacturing destination, according to the Financial Times in the UK.
The Vietnam Association of Seafood Producers and Exporters (VASEP) said it plans several measures to help its members further penetrate the global supply chain and enable the fisheries sector to reach its export target of 12 billion USD in 2025, 40 percent higher than this year.
The 2020 Mekong Connect forum was held in the Mekong Delta province of Dong Thap on December 21, with an aim to seek measures to get products and services of the Mekong Delta into the global supply chain.
The effective handling by the Vietnamese Government of the COVID-19 crisis has created a very big opportunity for local suppliers to attract more businesses and investment from other countries, thus entering the global supply chain, according to an ILO expert.
Challenges will overwhelm opportunities for Vietnamese part suppliers if they are unable to find ways to upgrade technology and meet international production standards, business executives said on July 24.
A teleconference on trading in consumer goods between Vietnam and Japan was held in Tokyo on June 30, with nearly 40 Vietnamese producers and 55 Japanese importers taking part.
Measures to improve FDI attraction, bolster the competitiveness of Vietnamese enterprises, and make the local investment environment more transparent were discussed at a workshop held by State Audit of Vietnam (SAV) in Hanoi on June 9.
Vietnam hopes US firms with potential in technology, professionalism, and capital will continue to select the country as an attractive and safe destination for relocating business and supply chains, Vietnamese Ambassador to the US Ha Kim Ngoc said on June 3.
The US-based Brookings Institute on May 20 ran an article attributing Vietnam’s success in COVID-19 containment to its improved governance and policy coordination.
Business
