Vietnam’s exports likely to hit all-high 212 billion USD this year

Vietnam expects to earn more than 212 billion USD from exports this year, much higher than 176 billion USD last year, said head of the Ministry of Industry and Trade (MoIT)’s Planning Department.
Vietnam’s exports likely to hit all-high 212 billion USD this year ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – Vietnam expectsto earn more than 212 billion USD from exports this year, much higher than 176billion USD last year, according to head of the Ministry of Industry and Trade(MoIT)’s Planning Department Duong Duy Hung. 

The increase in the industrial productionindex will also contribute to gross domestic product growth of 6.7 percent thisyear.

Statistics from the MoIT showed that as ofDecember 19, 2017, Vietnam’s export-import revenue hit a record 400 billion USDcompared to 100 billion USD a decade ago.

Tran Thanh Hai, deputy head of the MoIT’s Import-ExportAgency, said with the enforcement of free trade agreements with the Republic ofKorea, the Eurasian Customs Union, ASEAN and the Regional ComprehensiveEconomic Partnership two years ago, Vietnam’s exports-imports have grownrapidly to 400 billion USD this year from 300 billion USD in 2015.

Vietnam now has more than 200 tradepartners, including 29 export and 23 import markets. The country is forecast topost a trade surplus of 3 billion USD this year, contributing to stabilisingthe macro-economy, curbing inflation and achieving all 13 socio-economictargets set by the government.

The growth is mostly attributable toagro-forestry-fisheries, trade, services, manufacturing and restructuring ofState-owned enterprises.

The MoIT also paid attention to foreignmarkets, especially promising ones that signed trade deals with Vietnam, as wellas domestic ones, consumer price index control and administrative reform.

The MoIT plans to continue refining legalregulations to improve State management, deal with loss-making projects andstep up administrative reform.-VNA
VNA

See more

Vice Chairman of the Dong Nai provincial People's Committee Duong Minh Dung replies to FDI enterprises' concerns at the meeting. (Photo: VNA)

Dong Nai holds dialogue with FDI enterprises to ease difficulties

At the event, businesses raised concerns related to value-added tax refunds, increased land rental costs, reduced LNG supply, labour shortages, the issuance of construction ownership certificates, and environmental hygiene and traffic safety on roads within industrial zones.

President of the Vietnam-Canada Business Association (VCBA) Eastern Chapter Chung Vinh. (Photo: VNA)

Vietnam-Canada Business Association expands operation

The establishment of the Eastern Chapter not only marks a significant step in the Vietnam-Canada Business Association's growth but also addresses the rising demand for networking and collaboration among Vietnamese and Canadian entrepreneurs in the region.

An overview of the discussion on developing financial centres in Vietnam. (Photo: VNA)

Int’l financial centre ensures Vietnam’s sustainable financial growth: Experts

Financial experts expressed their willingness to share knowledge, expertise, and support Vietnam’s access to vital capital, while as assisting Vietnam in training and recruitment of highly skilled financial professionals to ensure the swift and effective development of the financial centres. Additionally, they committed to connecting Vietnamese businesses with German and international investors.

A port in California of the US (Photo: Xinhua/VNA)

Vietnam attends WTO session on removing technical barriers to trade

The Vietnamese delegation is closely tracking all Specific Trade Concerns, with a keen interest on rules impacting Vietnam’s key and potential exports at the regular session of the World Trade Organisation (WTO) Committee on Technical Barriers to Trade (TBT Committee) in Geneva, Switzerland from March 25-28.

The ICON e: (Photo: Honda Vietnam)

Honda Vietnam rolls out first domestically produced electric scooter

The ICON e: is specifically designed for high school students, a young and dynamic demographic seeking safe and convenient mobility. The scooter comes equipped with advanced safety features, including a fire- and water-resistant lithium-ion battery, a combined braking system (CBS), LED lighting for enhanced visibility, and a spacious storage compartment. It is expected to launch in the Vietnamese market in April.

A buyer searches for food products at the fair. (Photo: VNA)

Third Vietnam Outstanding Export Products Fair opens in HCM City

It features nearly 750 booths showcasing a wide range of goods and services like agricultural products, foods and seafood, handicrafts, souvenirs, regionally distinctive goods, textiles, footwear, supporting industries, and food processing, packaging, and preserving technologies.