Vietnam is still regarded by investors as an attractive destination thanks to its stable politics and macro economy, favourable geographical location, and advantages in land and human resources, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
Vietnam recorded 361.5 billion USD in foreign trade by mid-September this year with trade surplus hitting a record high of 14.5 billion USD, 1 billion USD higher than the eight-month figure.
A Reuters poll announced on August 14 showed that Indonesia’s exports and imports may have plummeted in July, following an improvement a month prior, with global trade still reeling under the fallout from the coronavirus crisis.
Industrial zones (IZs) and economic zones (EZs) attracted 390 foreign-invested projects with a total registered capital of 4.3 billion USD in the first five months of this year, according to the latest updates of the Ministry of Planning and Investment.
Despite the difficulties posed by the COVID-19 pandemic, Vietnam can still reach its annual export growth target of 7-8 percent if market opportunities are optimised, experts have said.
Vietnam reported an estimated trade deficit of 176 million USD in the first two months of the year, according to the General Statistics Office of Vietnam (GSO).
Vietnam’s gross domestic product (GDP) increased 7.02 percent in 2019, marking the second straight year the economic growth rate topping 7 percent since 2011, according to the General Statistics Office (GSO).
Asia and Europe are important markets for Vietnamese fruits and vegetable exports and imports, and flowers could be next, experts said at a seminar on “Fruit, vegetable and flower exports - New movements in Asian and European markets” in Hanoi on October 24.
Management agencies and businesses should consider customers the centre of the domestic auto industry to spur the sector’s growth in the context of international integration, experts have suggested.
Exports by domestic businesses in the first nine months of 2019 grew by 16.4 percent year on year, much faster than the pace seen in the foreign invested sector, statistics show.
Businesses and State agencies met in Hanoi on September 16 to discuss measures in response to India’s recent restriction of incense stick imports, which is considered a serious trade barrier.
Vietnam-Germany trade relations will thrive on the back of the freshly inked free trade and investment deals, including the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), according to insiders.
Trade revenue between Vietnam and Malaysia reached 5.48 billion USD in the first half of 2019, down 6.2 percent year on year, according to Vietnam’s Trade Office in Malaysia.
With the Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP) officially coming into force, Vietnamese exporters should make the most use of the opportunities it brings in Japan, one of Vietnam’s leading trade partners.
The EU-Vietnam Free Trade Agreement (EVFTA), which was freshly signed in Hanoi on June 30, is expected to bring about many opportunities for Vietnamese enterprises, especially those involved in exporting major products like seafood, apparels, footwear, and farm produce.
Prime Minister Nguyen Xuan Phuc on May 23 sent a message of congratulations to his Indian counterpart Narendra Modi on the successful organisation of the 17th Lok Sabha (House of People or lower house of India) election.
The state-level visit to Vietnam by Sultan Haji Hassanal Bolkiah of Brunei from March 26-28 will be a new hallmark in the 27-year diplomatic ties between the two countries, helping to consolidate and enhance bilateral cooperation across all spheres, Vietnamese Ambassador to Brunei Do Anh Tuan has said.
With their high demand for agricultural products, the Republic of Korea and Japan offer opportunities for Vietnam to boost export of farm produce, especially fruits and vegetables, Do Quoc Hung, Deputy Director General of the Asia-Africa Market Department, has said.
Japan is set to lift 86 percent of the tariff lines for Vietnamese products in line with its commitments in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Vietnam and India discussed specific measures to remove obstacles to trade and investment cooperation between their businesses during the fourth meeting of the Joint Sub-committee on Trade in Hanoi on January 23.
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