Trade – Investment

Vietnam’s largest conglomerate Vingroup on January 14th announced that it is officially withdrawing from air transport business.

Budget carrier Vietjet Air on January 13th announced that it has opened five more air routes linking culture, economic and political centres of Vietnam and Japan in 2020.

Budget carrier Vietjet Air on January 12th launched two new air routes linking the Mekong Delta city of Can Tho with Taipei of Taiwan and Seoul of the Republic of Korea (RoK).

Senior economic officials from Cambodia, Laos, Myanmar and Vietnam (CLMV) gathered in Hanoi on January 12th for their 18th meeting hosted by the Vietnamese Ministry of Industry and Trade (MoIT).

A Japanese business delegation led by President of the Solar Wind Technology Company Mochio Horiuchi held a working session with Vice Secretary of the Bac Lieu provincial Party Committee and Chairman of the provincial People’s Committee Duong Thanh Trung on January 10th.

The Vietnam Report JSC and VietNamNet newspaper announced the top 500 largest enterprises in Vietnam (VNR500) in 2019 at a ceremony in Hanoi on January 9th.

Foreign investors have poured around 36.4 billion USD into the Vietnamese stock market by the end of 2019, a rise of 11.6 percent from a year earlier, according to the State Securities Commission (SSC).

Vietnam needs a “revolution in its policy-making mind-set” before it can take advantage of the fourth industrial revolution, said Pham Xuan Hoe from the Banking Strategy Institute, at a forum in Hanoi on January 7th.

The footwear and handbag industry aims to reach export revenue of USD24 billion in 2020, after hitting USD22 billion last year, the industry association said.

The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-year surge of 10 percent, according to Vinacomin Deputy Director General Nguyen Hoang Trung.

​Deputy Prime Minister Trinh Dinh Dung chaired a conference in Hanoi on January 6th to review 2019 activities of the Vietnam National Oil and Gas Group (PetroVietnam) and launch its 2020 tasks.

The size of Vietnamese e-commerce market is likely to hit 13 billion USD this year thanks to a large percentage of young residents and internet subscribers, according to insiders.

Vietnam's National Power Transmission Corporation (EVNNPT) launched 36 power transmission projects with a total investment capital of 19.74 trillion VND (850 million USD) in 2019.

Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.

The Airports Corporation of Vietnam (ACV) said 21 airports that it is managing and operating are expected to serve a total of 127 million passengers in 2020, a year-on-year rise of 10 percent.

Ho Chi Minh City was assigned to collect 405.83 trillion VND (17.5 billion USD) for the state budget in 2020, a rise of 1.68 percent compared to last year’s estimates, said Chairman of the municipal People’s Committee Nguyen Thanh Phong.

The People’s Committee of Ho Chi Minh City unveiled the top 10 events of the southern metropolis in 2019 at a recent press conference.

Work on the 97.3 million USD Terminal 2 at Phu Bai International Airport in Huong Thuy town, the central province of Thua Thien – Hue, was kicked off on December 29th.

The annual Consumption Promotion Fair 2019 kicked off in Ho Chi Minh City on December 27th.

​Truong Hai Auto Corporation (Thaco) held a ceremony in the central coastal province of Quang Nam on December 28th to hand over 15 Vietnamese branded buses for export to the Philippines.

Despite facing an array of difficulties in export markets and particularly challenges in removing the European Commission (EC)’s “yellow card” warning against illegal, unreported and unregulated (IUU) fishing, the domestic fishery sector has worked out measures to make use of export opportunities.

(CPV) - In 2019, Vietnam earned trade surplus of USD10 billion, exceeding the year’s target. This is the fourth consecutive year, the trade balance inclined exports since 2016.

(CPV) - As of December 20th, newly-registered and added capital, capital contributions and share purchases of foreign investors in Vietnam totaled USD38.2 billion, a year-on-year rise of 3.1%, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Vietnam’s gross domestic product (GDP) increased 7.02 percent in 2019, marking the second straight year the economic growth rate topping 7 percent since 2011, according to the General Statistics Office (GSO).

The Republic of Korea (RoK) is the leading foreign investor in Vietnam in 2019, pouring 7.92 billion USD into the country, accounting for over one fifth of the total flow of foreign direct investment.

The Vietnamese Embassy in Belarus recently hosted a workshop themed "Developing and strengthening cooperation between Vietnam and Belarus in the field of tourism - investment".

Secretary General of the ruling Liberal Democratic Party (LDP) of Japan Toshihiro Nikai said on December 24th that he will lead the largest-ever delegation to Vietnam for a friendly visit from January 11th-14th.

Prime Minister Nguyen Xuan Phuc said the agriculture and rural development sector must grow by 3 percent next year, during a teleconference in Hanoi on December 23rd.

Vietnam's real estate market will not be short of capital next year but will still face many challenges from policies and administrative procedures, experts said at the annual Vietnam Real Estate Forum.

Seven provinces and cities in the north of Vietnam discussed mechanisms to form the Northern Key Economic Region (NKEC) of the country.