Trade – Investment

Vietnamese automobile brand VinFast officially opened its office in Melbourne (Australia) on June 11th for studying and developing new cars, and laying a foundation for international operation and becoming a global automobile brand in the future.

Vietnam has won a tender offered by the Philippines to export 60,000 tonnes of rice to the country, according to Radio The Voice of Vietnam.

The European Union - Vietnam Free Trade Agreement (EVFTA), recently ratified by the Vietnamese legislature, will not only help Vietnam boost production and exports but also enable European firms to increase their presence in this emerging Asian nation, said the German media.

As of early June, the remittances to Ho Chi Minh city reached USD2.3 billion, a reduction of 1.9% compared to the same period last year, the State Bank of Vietnam, Ho Chi Minh city branch, has reported.

In the first quarter of 2020 alone, Vietnam's exports of processed agricultural products reached USD166 million, a year-on-year increase of 33%, the Ministry of Industry and Trade has reported.

The northeastern province of Quang Ninh has emerged as an ideal destination for investors who want to diversify production activities and expand their supply chains outside China.

Exports of tra (pangasius) fish slipped 39 percent in the first five months of 2020 compared to the same period last year to 456 million USD, the Ministry of Agriculture and Rural Development has said.

Central Retail Vietnam, a member of the Thai-based retail conglomerate the Central Group, said it plans to purchase 1,000 tonnes of lychee from the northern province of Bac Giang’s Luc Ngan district this year.

Nine tonnes of Vietnam’s U Hong lychee are expected to arrive in Australia on June 12th to introduce the specialty fruit of Vietnam to consumers in this country at the right time when lychees are in bloom.

Additional three air routes from Vinh city to key tourism destinations in the country will be launched as part of efforts to promote post-COVID-19 domestic tourism recovery.

Hanoi is continuing to complete 23 trade village industrial clusters expected to be handed over to investors at the investment promotion conference themed "Hanoi 2020 - Investment Cooperation and Development" organized for June 27th.

The Ho Chi Minh city Party Committee has recently announced the draft political report of the 11th city Party Congress, term 2020 - 2025, in which the orientations for development were set out.

The northern province of Quang Ninh’s economic development saw positive signs in May, thanks to many strong supportive and stimulating measures.

Ho Chi Minh City’s Department of Industry and Trade will for the first time in several years allow businesses to offer promotions of up to 100 percent in June and July to boost demand that has taken a hit from the COVID-19 pandemic.

Vietnam has set the goal of becoming one of the world’s top 15 most developed agricultural countries in the world by 2030 with agricultural processing ranked in the world’s top 10, according to the Government Directive No.25/CT-TTg.

Vietnam’s small- and medium-sized enterprises (SMEs) received updates on the latest information relating to the EU-Vietnam Free Trade Agreement (EVFTA) at an online conference held by the Ministry of Industry and Trade (MoIT) and the Vietnam Association of Small and Medium Enterprises (VINASME) on June 5th.

An e-commerce trading floor for Vietnamese lychee products will be launched this month.

The tax sector’s state budget revenue was estimated at nearly 500 trillion VND (21.73 billion USD) in the first five months of this year, equal to 97.6 percent of the figure of the same period last year.

In May, Ho Chi Minh City attracted USD1.6 billion in foreign investment, accounting for 57.67% of the total investment capital compared to the same period in 2019.

Rice exports have been reported to rise sharply after the Government allowed the resumption of normal rice exports since May 1st.

Ho Chi Minh city attracted a combined total of USD1.6 billion in foreign direct investment (FDI) in the January - May period, accounting 57.67% of the figure in comparison with the same period from last year.

The northern province of Son La has exported about 5,000 tonnes of mangoes to China since the beginning of the harvest season with a total value of USD2.24 million.

The Cat Hai - Phu Long cable line in the northern port city of Hai Phong will be inaugurated on June 6th.

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 3rd.

Situated in the northern province of Son La, Mai Son district is expected to export approximately 2,600 tonnes of longan over the course of the year to several foreign markets such as the United States, China, France, Poland, and Malaysia.

The northern province of Quang Ninh is planning for the Vinpearl Safari nature conservation and ecotourism complex on an area of over 1,135 hectares in Ha Long city, invested by Vinpearl Company, using some VND2 trillion.

Vietnam is considered a good destination for high quality foreign direct investment (FDI) inflows after the COVID-19 pandemic.

Vietnam Airlines will open six new domestic routes this month, including Hai Phong-Da Lat/Phu Quoc/Can Tho/Buon Ma Thuot; Vinh-Can Tho; Can Tho-Buon Ma Thuot.

The PetroVietnam Gas Joint Stock Corporation (PV GAS) has been named in the list of the top 50 listed companies 2020 by Forbes Vietnam for the eighth consecutive year.

In May, Ho Chi Minh city’s Index of Industrial Production (IIP) saw an increase of 7.94% compared to the previous month. However, IIP was estimated at a year-on-year decrease of 7.16%, the city Department of Industry and Trade said on June 1st.