Trade – Investment

Vietnamese Ambassador to the US Ha Kim Ngoc had an online meeting on April 14th with Chairman of the Business Council for International Understanding (BCIU) Peter Tichansky and senior officials of 40 major US enterprises to discuss bilaterial cooperation and investment opportunities.

Prime Minister Nguyen Xuan Phuc has just signed Decision 504/QD-TTg with finance to support preventing drought, water shortage and saltwater intrusion in the Mekong Delta region.

In 2020, the northern province of Bac Giang is producing litchi on an area of some 28,000 hectares with the expected productivity of 160,000 tons, the provincial Department of Agriculture and Rural Development has reported.

The Garment Corporation 10 has signed a contract with partners to provide 400 million medical masks for delivery in July. Apart from medical mask orders, the corporation received orders from Germany and the US for export of over 20 million antimicrobial face masks.

China has remained the main export market for Vietnamese shrimp over the past 5 years, with an average growth of 16% per year and an increase of over 55%, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.

Minister of Industry and Trade Tran Tuan Anh has signed on decision announcing the rice export quota for April after the Prime Minister gave the green light to resume exporting the product.

​The Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency (Vietrade) has made a list of 5,000 exporters that need help in finding markets amid the COVID-19 outbreak.

The Ministry of Industry and Trade has issued a decision on investigating anti-dumping duties on polyester filament yarn (PFY) with HS codes: 5402.33.00, 5402.46.00 and 5402.47.00 originating from China, India, Indonesia and Malaysia.

Prime Minister Nguyen Xuan Phuc has approved the resumption of rice export provided that food security must be guaranteed amidst the COVID-19 pandemic, drought and saltwater intrusion.

An aid package of 530 billion VND (over 22.7 million USD) has been approved by Prime Minister Nguyen Xuan Phuc to help eight provinces in the Mekong Delta deal with drought, water scarcity and saltwater intrusion, which have been taking a heavy toll on the agricultural production hub of Vietnam.

In his recent phone talks with European Commissioner for Trade Phil Hogan, Minister of Industry and Trade Tran Tuan Anh exchanged views on a number of issues related to the European Union – Vietnam Free Trade Agreement (EVFTA) and bilateral cooperation and trade in the context of the raging COVID-19 pandemic.

The Ministry of Industry and Trade (MoIT) has launched a number of measures to tackle difficulties for the Vietnam – China trade, amid the complicated developments of COVID-19 pandemic.

Vietnam’s Truong Hai Auto Corporation (THACO) has accelerated export of automobile products, spare parts and mechanical products to foreign countries.

Import-export activities in the southern province of Binh Duong in the first quarter of this year saw growth despite the negative impact caused by COVID-19, the provincial Department of Industry and Trade has reported.

Five tonnes of red dragon fruit from Vietnam are being sold at supermarkets and grocery stores in the Australian states of New South Wales, Victoria, and Western Australia as part of a week-long promotional event held by the Vietnamese Trade Office in Australia and the Melbourne-based company Da Lat Import & Export from April 2nd to 8th.

In 2019, the total import-export turnover between Vietnam and Mali reached USD67.43 million, an increase of 2.5 times compared to 2018, the General Department of Vietnam Customs has reported.

Despite COVID-19, there has been a sharp increase in attraction of domestic investment to Da Nang city and impressive results in the implementation of large FDI projects.

European enterprises in Vietnam welcomed the Vietnamese Government’s measures introduced in Directive 11 to support businesses during the COVID-19 pandemic, according to the latest Business Climate Index (BCI) from the European Chamber of Commerce (EuroCham).

The export of cassava and cassava products in March was estimated at 335,000 tons, equivalent to USD113 million, bringing the export volume in the first three months of 2020 to 772,000 tons, earning USD257 million, a year-on-year increase of 14% in volume and 0.4% in value.

Vietnam national flag carrier Vietnam Airlines has launched a program offering free flights for health workers engaged in epidemic prevention and control work and the transport of medical equipment on its domestic routes from April 9th-30th.

According to the latest information from the General Department of Vietnam Customs, the total export turnover of the whole country from the beginning of the year to March 15th reached USD50.294 billion, up 6.8% over the same period in 2019.

Export of Tra fish to such large markets as the US and China is seeing positive signs, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.

National flag carrier Vietnam Airlines will limit the number of passengers on flights to Ho Chi Minh City from April 6th-15th following a request from the Civil Aviation Authority of Vietnam.

The Hanoi Department of Transport has just suspended all taxi services at Noi Bai International Airport in order to thoroughly prevent the spread of COVID-19 pandemic.

National flag carrier Vietnam Airlines will limit the number of passengers on flights to Ho Chi Minh City from April 6th-15th following a request from the Civil Aviation Authority of Vietnam.

According to the latest information from the General Department of Vietnam Customs, the country's total export turnover from the beginning of the year to March 15th reached USD50.3 billion, a year-on-year increase of 6.8% over the same period in 2019.

National flag carrier Vietnam Airlines announced on April 5th that it will adjust the frequency of its flights from Hanoi/Ho Chi Minh City to Da Nang after the central city requires a 14-day quarantine period for passengers from the two major cities amid the COVID-19 pandemic.

The State Treasury mobilised over 9.72 trillion VND (over 407 million USD) through Government bond auctions on the Hanoi Stock Exchange (HNX) in March, down 29 percent compared to the previous month.

The COVID-19 epidemic has had a significant impact on Vietnam's trade in the first quarter of 2020.

Vietnam’s GDP growth rate of 3.82 percent in the first quarter of 2020, a record low since 2011, is still a miracle amidst a global economic recession, an official has said.