Trade – Investment

In the first 5 months of 2020, cashew nut exports reached 184,000 tons, valued at USD1.24 billion, an increase of 17.8% in volume and 2.2% in value over the same period last year, the Import and Export Department under the Ministry of Industry and Trade has said.

Truong Hai Auto Corporation, known as THACO, exported its first 36 semi-trailers to the US on June 1st.

The development of industrial zones (IZs) needs a comprehensive plan to capture the transition of the foreign direct investment (FDI) inflow spurred by trade wars and the COVID-19 pandemic in which Vietnam has significant opportunities to become the next global factory.

Thi Vai International Port Co., Ltd (TVP) has announced its investment of more than 2.7 trillion VND (115.7 million USD) in improving land at the Thi Vai international port in the southern province of Ba Ria-Vung Tau.

Vietnamese agricultural, fishery and food businesses were updated on the Singaporean market at an online conference held by the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade) and the Vietnamese Trade Office in Singapore on May 29th.

A three-day fair of Thanh Ha lychee, a specialty of the northern province of Hai Duong, was opened on May 29th at the Vietnam Agricultural Exhibition Centre in Hanoi.

Products of Vietnamese milk producer Vinamilk (Vietnam Dairy Products JSC) have made their entry into the market in the Republic of Korea (RoK), said a RoK dairy business.

The national flag carrier Vietnam Airline has resumed full domestic operations with the number of domestic passenger flights on May 29th up 36 percent year on year to over 300.

Vietnam attracted a total of 13.9 billion USD in FDI in the first five months of this year, a fall of 17 percent year-on-year, the General Statistics Office (GSO) announced on May 29th.

Vietnam reported a trade surplus of 1.9 billion USD in the first five months of this year amid the ongoing complexity for global markets caused by the COVID-19 pandemic.

Deputy Prime Minister Trinh Dinh Dung has assigned the Ministry of Transport to conduct detailed research for the expansion of Phu Bai International Airport in the central province of Thua Thien - Hue. ​

An interactive video conference on “Promoting Vietnam - US Trade in Footwear Post COVID-19” took place in Washington DC on May 27th (US time) to connect Vietnamese producers and American distributors and retailers.

The EU - Vietnam Free Trade Agreement (EVFTA) and the EU - Vietnam Investment Protection Agreement (EVIPA) are expected to create new momentum for the comprehensive cooperative partnership between the two sides, Vice Spokesman of the Ministry of Foreign Affairs Doan Khac Viet has said.

Citizens from 80 countries worldwide will be allowed to enter Vietnam using e-visas, according to a resolution recently issued by the Government.

Vietnam's shrimp export in the first 4 months of 2020 reached USD872.8 million, a year-on-year increase of 2.9%, and the export turnover is expected to increase in May, the Vietnam Association of Seafood Exporters and Producers (VASEP) has said.

In the first four months of 2020, exports of fruits and vegetables to Thailand reached USD57.8 million, a year-on-year increase of 244.1%, the Import and Export Department under the Ministry of Industry and Trade has said.

The first shipment of litchi in Hai Duong province was officially exported to the Singapore market on May 26th while the following batches will be exported to the US, Australia, EU, Japan, Singapore and Canada, with a total output of about 2,000 tons, many times higher than the previous year's crop.

Vietnam and China are going to hold several teleconferences in the next few days to promote the trade of agricultural products and specialties.

The northern province of Ha Nam has become an attractive destination for domestic and foreign investors thanks to the locality’s transparent investment policies and mechanisms.

Associate Professor, Dr. Chu Hoang Long from the Australian National University (ANU) on May 23rd expressed his belief that the EU-Vietnam Free Trade Agreement (EVFTA), once effective, will boost two-way trade thanks to eased tax barriers.

The COVID-19 pandemic has caused a serious effect to the economy, but it has helped accelerate the race for banks to go digital.

A seminar was held in Can Tho on May 23rd to discuss measures to turn the city into a centre of the Mekong Delta region with sustainable development.

​The development of e-commerce together with delays to import and export activities due to disrupted logistics services has accelerated demand for ready-built factories and warehouses during the COVID-19 outbreak in Vietnam.

Authorities in the central city of Da Nang have adopted a series of measures to bolster its post-pandemic economic development, focusing on attracting investment, promoting production, business, and exports, stimulating domestic tourism and consumption, and addressing difficulties facing key projects.

Vietnam reported a trade deficit of nearly 1 billion USD in the first half of May as exports reached only 8.22 billion USD – the lowest level since the beginning of this year (excluding the first half of January when the Tet holiday fell on), the General Department of Customs announced has announced.

Computers, electronics and spare parts have surpassed garment to become the second largest currency earner in first four months of this year, according to the General Statistics Office.

Panasonic Corporation said on May 21st that it will reorganize manufacturing locations in Southeast Asia and move its refrigerator and washing machine production line from Thailand to Vietnam in the coming year.

The Civil Aviation Authority of Vietnam (CAAV) is planning to increase the capacity of Tho Xuan Airport in the central province of Thanh Hoa to 5 million passengers by 2030.

The Import-Export Department under the Ministry of Industry and Trade has urged local exporters shipping to the European Union (EU), Norway and Switzerland to register for REX as soon as possible.

Vice President Dang Thi Ngoc Thinh presented a proposal from the State President to the National Assembly (NA) for ratifying the EU-Vietnam Investment Protection Agreement (EVIPA), at the ninth session of the 14th NA in Hanoi on May 20th.