Trade – Investment

By producing a diagnostic kit that is able to detect signs of the novel coronavirus (COVID-19), Vietnam has become one of the few countries in the world to successfully master the technology.

The Tan Thanh - Po Chai border gate in the northern province of Lang Son resumed customs clearance on April 30th thanks to joint efforts from Vietnam and China to maintain trade amid the COVID-19 outbreak.

Hanoi’s Noi Bai International Airport has seen a significant increase in domestic flights over the April 30th - May 1st holiday, a representative said on April 30th.

State budget collections in HCM City in the first four months were estimated at over 117 trillion VND (5 billion USD), 28.9 percent of the estimate and down 12.4 percent year-on-year, the city’s Statistics Office reported.

Vietnam exported 415.7 million face masks worth 63.19 million USD from January 1st to April 19th, according to the General Department of Customs.

Hanoi licensed 235 new foreign-invested projects with a total registered capital of VND324 million in the first four months of 2020.

Significant falls in the price of petrol, oil, non-food items, and foodstuffs were behind a month-on-month decline of 1.54 percent in the CPI in April, the General Statistics Office (GSO) said on April 29th.

The northern province of Quang Ninh on April 28th held a ceremony to start work on the Cua Luc No 1 Bridge, which will span Cua Luc Bay, connecting the South and the North of Ha Long City.

The index of industrial production (IIP) in the northern province of Bac Ninh in April was down 25.8% compared to last month and down 1.8% compared to April last year, the provincial Statistics Office has reported.

In 2019, Vietnam exported nearly USD40 billion of different kinds of products such as textile and garment, footwear, agricultural and fisheries products, phones and wood products, to the markets belonging to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Van Don Airport in Quang Ninh province will resume operations for domestic routes on May 4th after a temporary suspension due to the COVID-19 pandemic.

In the first 4 months of this year, the total export-import turnover of agricultural, forestry and fisheries products is estimated at nearly USD21.1 billion, with a surplus of nearly USD2.8 billion, a slight year-on-year reduction of 4.1%, the Ministry of Agricultural and Rural Development has reported.

Da Nang city and Thua Thien-Hue province in the central region have approved some key property projects for construction in the third quarter of this year, calling for investment to help recover the real estate market growth that was postponed by the COVID-19 pandemic.

The central province of Quang Binh has set goals of luring 600-800 million USD in foreign direct investment (FDI) from 2021-25 and 1-1.2 billion for the five years following.

Vietnam is due to export the first batch of fresh litchi to Japan in late May this year.

Online customs declaration services will be made available for exports of additional 38,000 tonnes of rice at 0:00 am on April 26th, according to the General Department of Vietnam Customs.

More than 90 percent of IT firms in Vietnam want to hire more staff and expand their business after the pandemic, according to the latest report by Navigos Group.

Vietnam’s fruit and vegetable exports to Thailand were USD50.51 million in the first quarter of 2020, shooting up 308.77 percent from the same period last year.

Lying in the key southern economic region, Binh Duong province has a higher economic growth rate than the national average, attracting a large amount of foreign direct investment capital.

The task of making the Long An Province Plan for the 2021-2030 period and vision to 2050 has been approved by Deputy Prime Minister Trinh Dinh Dung.

Ho Chi Minh city was the first locality to reach USD10 billion in export turnover in the first quarter of the year, the Vietnam General Department of Customs has reported.

In the first 3 months of 2020, shrimp export turnover to the US market reached USD115.5 million, a year-on-year increase of 18.2%. This is the greatest growth among the top 5 major shrimp import markets of Vietnam.

The Vietnamese government has decided to eliminate 514 lines of tariffs on Cuban imports with effect from April, while another 49 will be reduced gradually until 2023.

Vietnamese dairy giant Vinamilk has completed the production of the first batch of the Ong Tho-branded condensed milk for export to China less than two months after being given the green light to export to the world’s second largest economy.

Vietnamese Ambassador to the US Ha Kim Ngoc has called on US firms to continue to accompany the Vietnamese Government and people in the fight against COVID-19 and bolster socioeconomic development.

Vietnam and Cuba have completed official procedures to bring the Vietnam - Cuba Trade Agreement into effect as of April 1st, 2020. The agreement put into effect will create a stable and open legal framework, promoting bilateral trade and investment relations.

This is an effort of the Xuan Minh Investment and Construction Company and Kim Huy Vietnam Agriculture Company, an enterprise invested by the Republic of Korea, together with farmers in Phuong Ngo 2 and Nghia Lap villages, Hoang Luu commune, Hoang Hoa district.

Despite difficulties caused by COVID-19, Vietnam has continued to be assessed as an attractive investment destination for the world’s diverse trans-national companies.

(CPV) - GE has signed a contract with Phuong Mai wind power JSC - jointly invested by Truong Thanh Development and Construction Investment JSC (Deconin) and Hanoi Construction - Industrial Investment JSC (Hanoinco), to provide eleven 2.4MW-116 turbines and technical advisory service for Phuong Mai 1 wind power plant.

According to the Ministry of Industry and Trade, in the first two months of the year, China imported 572,900 tons of eight kinds of fruits, including dragon fruit, banana, mango, watermelon, litchi and longan, worth USD436.4 million, a reduction of 19% compared to the same period last year.