Trade – Investment

By 2030, the country will have 173 fishing ports, including 39 of level 1, which are capable of handling about 2.98 million tonnes in total each year, and 160 storm shelters capable of accommodating about 90,600 fishing vessels.

Vietnam’s average rice export price to Brunei is up to 959 USD a ton in the first five months of 2024, according to data from the General Department of Customs.

Vietnam is in the process of promoting negotiations on the Free Trade Agreement (FTA) with the South American Common Market (Mercosur), to turn this FTA into a driving force to exploit the Latin American export market.

The better-than-expected growth and a big trade surplus were among the results recorded during the first half of 2024, heard the Government’s regular press meeting held in Hanoi on July 6.

Construction started on the Quang Tri airport project, which has an initial outlay of 5.8 trillion VND (227 million USD), in Gio Linh district on July 6 by the People’s Committee of the central province of Quang Tri and a joint venture between T&T Group and CIENCO 4.

Domestic and foreign scholars on July 5 exchanged experience in developing Halal ecosystems in countries at an international workshop held by the Vietnam Academy of Social Sciences (VAAS) in Hanoi.

The results of the 2023 Open Budget Survey (OBS 2023) by the International Budget Partnership (IBP) showed that Vietnam’s budget transparency ranking continued to rise to 57th out of 125 countries, an increase of 11 places compared to the 2021 evaluation and a rise of 20 places compared to 2019.

Crab exports to the Chinese market in the first five months of 2024 reached more than 41 million USD, a year-on-year increase of 502%, according to statistics from the General Department of Customs.

Vietnam harvested 3.48 million hectares of rice in the first six months of 2024, a year-on-year rise of 0.5%, while the average yield reached 67.1 tons per ha, a rise of 0.7% and output on harvested area reached 23.3 million tons, a year on year rise of 1.6%, according to the Ministry of Agriculture and Rural Development.

Foreign businesses injected nearly US$15.19 billion worth of foreign direct investment (FDI) into the Vietnamese economy in the first six months of 2024, representing a year-on-year rise of 13.1%, according to the General Statistics Office.

In the first half of the year, there were 80,500 newly-registered enterprises with a total registered capital of VND744.2 trillion and 512,000 new labourers, rising by 6.1%, 5.2%, and 0.4%, respectively, from the same period a year ago, according to the General Statistics Office (GSO).

In a move to ease burdens and bolster economic activity, the Ministry of Finance has announced reductions in fees and charges for various services.

Export turnover of agricultural, forestry and fishery products is estimated to reach 29.2 billion USD in the first six months of the year, up 19% year on year, according to the Ministry of Agriculture and Rural Development.

Rubber exports to India in the first five months of the year grew by double digits, making it Vietnam’s second largest rubber export market.

Forbes Vietnam magazine has just published a list of the 50 best listed companies in Vietnam with appearance of leading businesses in many fields, typical representatives of business industries and famous names on the stock exchange.

Aiming to build a green financial market and support small and medium-sized enterprises in Vietnam, the International Finance Corporation (IFC) will provide a funding package of 150 million USD for SeABank.

Among Vietnam’s tuna products exported to the EU in the first five months of 2024, canned tuna is the main product, accounting for nearly 49% of the total turnover, according to the Association of Seafood Exporters and Producers (VASEP).

The Philippine Government has issued a decree to cut taxes on many products, offering opportunities for Vietnamese rice to increase exports to the country, according to the Vietnam Trade Office in the Philippines.

The EU imported 18,474 tons of pepper from foreign markets in the first four months this year, worth 83.7 million EUR, an increase of 22.9% in volume and 27% in value compared to the same period in 2023, according to data from the the Statistical Office of the European Union (Eurostat).

Samsung Vietnam in coordination with the Ministry of Industry and Trade and Bac Ninh province on June 26 organized a conference to review the implementation of the memorandum of understanding on the project to support Vietnamese businesses in the northern province.

(CPV) - Australia and Vietnam on June 26 launched Vietnam’s first Skills Forecast Report 2024 -2028 for the Port Industry and an updated Skills Forecast Report 2024 – 2026 for the Logistics Industry.

(CPV) - With Australia’s support, the Innovation Alliance for Pig Biosecurity is an important step towards a safe, sustainable future for the pig farming industry in Vietnam.

(CPV) - Australian technology companies are visiting Vietnam this week to take part in the Australia Southeast Asia Business Exchange (A-SEABX) Mission, in Ho Chi Minh City.

With an export turnover of 203 million USD in the first 5 months this year, China and Hong Kong (China) are now the largest consuming markets of Vietnamese pangasius.

(CPV) - The Hanoi People’s Committee has just issued Plan 185/KH-UBND to stabilize the market of essential goods in the city.

The World Bank has approved a 107 million USD credit to enhance the capacity, efficiency, and safety of inland waterways in the southern region of Vietnam, while also aiming to reduce greenhouse gas emissions in the transport sector.

Vietnam's coffee exports have topped 3 billion USD so far this year.

The northwestern mountainous province of Son La held a departure ceremony to export red-fleshed dragon fruit products to the Italian market on June 21.

Geographical Indications (GIs) are considered an effective tool to promote the export of Vietnamese agricultural products.

A programme to promote Vietnamese lychees to Thai consumers was opened at Centralworld commercial centre in Bangkok, Thailand on June 21.