Trade – Investment

In the first 4 months of this year, the export turnover between Vietnam and China reached over USD35 billion, including Vietnam’s export of USD12.7 billion, a year-on-year increase of 22.1%, the General Department of Vietnam Customs has reported.

Vietnam Airlines launched two new domestic routes on the afternoon of May 19th, including Vinh (Nghe An province) - Da Lat (Lam Dong province) and Vinh - Buon Ma Thuot (Dak Lak province) on the occasion of President Ho Chi Minh’s 130th birthday.

In the first 4 months of 2020, Vietnam exported 140,000 tons of cashew, worth USD963 million, a year-on-year increase of 21.5% in volume and 5.8% in value, the Export-Import Department under the Ministry of Industry and Trade has reported.

Minister of Industry and Trade Tran Tuan Anh on May 15th talked on the phone with Romanian Minister of Economy, Energy and the Business Environment Virgil - Daniel Popescu.

The Ho Chi Minh City-based Au Viet My Import-Export Trading Company has reached a 100 million ruble (over 1.3 million USD) deal to buy Nevalyashka tumbler dolls from Russia.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said that Vietnam is focusing on four measures to bolster wood and wooden product export growth this year.

The Ministry of Industry and Trade (MoIT) will continue to strictly manage rice exports through international border gates, said an official.

From May 28th-30th, 60 US footwear importers will trade online for the first time with footwear manufacturers in Vietnam to discuss business plans after the COVID-19 pandemic, the Office of the Ministry of Industry and Trade said on May 13th.

Some 350 stalls are expected to join the one commune-one product (OCOP) fair which will officially open on May 15th-21st in the northern province of Quang Ninh.

As of late April, foreign direct invested businesses poured nearly USD370 million of capital into the southern province of Dong Nai, accounting for 50% compared to the same period last year.

The EU-Vietnam Free Trade Agreement (EVFTA) is expected to be ratified by the National Assembly (NA) on May 20th, the first day of the 14th NA’s ninth session, according to the Ministry of Industry and Trade (MoIT).

In the first 4 months of this year, export of cassava and cassava products was estimated at 1.02 million tons, equivalent to USD349 million, a year-on-year increase of 11.5% in volume and reduction of 0.01% in value, the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development has reported.

Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang has said the sector will focus on new potential markets to achieve an average growth of 6 percent each year during the 2020 – 2025 period.

The People's Committee of Quang Tri province has approved in principle for Dong Nam ICD JSC to develop a logistics centre, expected to cost more than 2 trillion VND (86 million USD), in the East South Quang Tri Economic Zone.

The central province of Thua Thien Hue has set a target of luring 20 domestic and foreign-invested projects with a total investment capital of about 10 trillion VND (429.2 million USD) by the end of this year.

The State council for acceptance testing of construction works has permitted Electricity of Vietnam (EVN) to put the Duyen Hai 3 thermal power plant expansion project in the Mekong Delta’s Tra Vinh province into commerical operation.

JSC RZD Logistics, a subsidiary of Russian Railways, said it will organise trains from Russia to Vietnam’s Yen Vien station through China.

Domestic passenger transportation services will resume from 0:00 on May 8th to meet people's traveling demand as the COVID-19 pandemic is under control in Vietnam.

The General Department of Taxation said on May 7th that it has completed the work to offer 93 taxation procedures on the national public service portal.

EU countries and China are forecast to buy a greater amount of cashew nuts from Vietnam as COVID-19 will be controlled, leading to economic recovery and greater demand for imported goods.

Vietnam and India are two markets that can supplement each other. However, to increase trade exchange, it is necessary to increase cooperation in the development of value chains in textile and garment, leather footwear, electronic devices, machines, equipment and mechanics.

Despite the complex development of COVID-19, in the first 4 months of this year, Hanoi saw positive changes in attracting foreign direct investment (FDI).

Overseas remittances transferred to Ho Chi Minh city only reached USD1.8 billion in the first four months of this year, down 2 percent compared to the same period last year.

Vietnamese e-wallets have lured hefty sums from diverse partners over the past time, turning the segment into one of the investment hotspots.

The Civil Aviation Authority of Vietnam (CAAV) has asked the Ministry of Transport to increase domestic flights and remove social distancing on aircraft.

Some 81 percent of members of the Vietnam Business Council for Sustainable Development (VBCSD) will strengthen sectoral links to prevent their supply chains from suffering any future disruption caused by a disaster similar to the COVID-19 pandemic, a survey has found.

Vietnam's export value saw a year-on-year increase of 4.7 percent to an estimated USD82.9 billion in the first four months of this year, according to the General Statistics Office (GSO).

Despite the COVID-19 pandemic, the number of newly registered enterprises in the Mekong Delta province of Tra Vinh has risen this year compared to the same period last year.

The capital city of Hanoi granted licences to 235 foreign-invested projects with total registered capital of 324 million USD in the first four months of this year.

In realization of the direction of the Government and Quang Ninh province in COVID-19 prevention, the provincial industry and trade sector has actively implemented many synchronous solutions, developing plans to cope with all developments of the disease, ensuring effective prevention and promoting socio-economic development.