Demand for liquefied natural gas (LNG) will continue to be strong, outpacing domestic production by 2020 requiring the country to import around one million cubic metres a year, according to the Ministry of Industry and Trade.
The escalating US-China trade war has made Vietnam’s trade gap with China widen to 29.5 billion USD in the first 10 months of 2019, up 47.9 percent from the same time last year, according to insiders.
Prime Minister Nguyen Xuan Phuc had separate meetings with leaders of Laos, Cambodia, China and the International Monetary Fund (IMF), along with Prince Andrew Albert Christian Edward of the UK in Bangkok on November 3.
Deputy Prime Minister Vuong Dinh Hue hosted a reception for visiting Deputy Minister for Economic Affairs of the Republic of Korea’s Foreign Ministry Yun Kang-hyeon on October 24.
Prime Minister Nguyen Xuan Phuc is paying an official visit to Kuwait from October 26 – 27, the first trip to the Middle East nation by a Vietnamese leader in 10 years, which is expected to help solidify the countries’ relations.
Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.
Deputy Prime Minister Vu Duc Dam attended the opening ceremony of the 16th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) in Nanning, capital of China’s Guangxi Zhuang Autonomous Region, on September 21.
The Association of Southeast Asian Nations (ASEAN) and India have agreed to review their free trade agreement (FTA) signed in 2009 to make it more business-friendly and boost bilateral economic ties.
The Vietnamese Party, State and people always treasure the fraternal solidarity, traditional friendship and comprehensive cooperation with Cuba, and want to expand collaboration in the fields of both sides’ strengths so as to benefit the development in each nation, Minister of Construction Pham Hong Ha stressed on September 10.
There remains much potential for comprehensive cooperation between Vietnam and the US, and both are working hard to promote balanced bilateral trade, heard a forum held in Ho Chi Minh City on September 6.
China’s yuan (renminbi) has remained above the sensitive level of seven to the US currency for the last three days, hinting that trade friction between the US and China is entering a dangerous phase. The escalating tension between the two world powers is predicted to have negative impacts on Vietnam’s trade in the short term.
Minister of Industry and Trade Tran Tuan Anh has directed relevant agencies to coordinate and implement the most effective solutions to ensure the achievement of export growth targets.
Politburo member and permanent member of the Party Central Committee’s Secretariat Tran Quoc Vuong has asked for more efforts to make made-in-Vietnam products dominate the domestic market and gain a firm foothold overseas.
Export revenues by Ho Chi Minh City-based enterprises in the first six months of the year reached 19.6 billion USD, a 9.2 percent increase year-on-year, according to the municipal People’s Committee.
Nguyen Xuan Thang, Secretary of the Communist Party of Vietnam Central Committee and Chairman of the Central Theory Centre, has had meetings with representatives of US and international organisations and institutions in Washington DC.
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