Trade – Investment

The Ho Chi Minh city Department of Industry and Trade has issued plans to supply essential food and foodstuff for the Lunar New year (Tet) holiday 2020.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on November 1st.

Vietnam was placed 67th out of the 141 countries in the Global Competitiveness Report 2019, up 10 places compared to its 2018 ranking and also up 3.5 points, which are the fastest increases in the world.

Chairman of the European Parliament (EP)’s Committee on International Trade (INTA) Bernd Lange and INTA Vice Chairman Jan Zahradil highly evaluated Vietnam’s readiness and meticulous preparations for the approval of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (IPA) during a working trip to Vietnam from October 28th-31st.

Vietnamese firms poured USD411.9 million abroad in the Jan-Oct period of 2019, according to the General Statistics Office.

The National Assembly began the important discussion on socio-economic and State budget performance in 2019 and plans for 2020 on October 30th.

The Consumer Price Index (CPI) in October picked up 0.59 percent from September, the biggest increase for the same month during the past three years, the General Statistics Office (GSO) announced on October 29th.

Export and import turnover of agricultural, forestry and seafood products totaled USD59.1 billion from January to October 2019, including USD33.18 billion worth of exports, a year-on-year rise of 1.6%, according to the Ministry of Agriculture and Rural Development.

The latest Government’s report shows that by the end of 2019, debt-to-GDP ratio is expected to remain within the safe thresholds allowed by the National Assembly.

(CPV) - Vietnam ranked 109th out of 190 countries and territories on ease of paying taxes in the World Bank’s Doing Business 2020 report (DB2020), up 22 places from the previous report.

The south-central province of Ninh Thuan, the country’s largest grape producer, is expanding cultivation of high-quality foreign grape varieties.

Hanoi has maintained a high growth rate so far this year, with the GRDP expanding 7.35 percent in the first nine months of this year, it was reported at the 10th session of the city’s People’s Council on October 25th.

(CPV) - - The State Bank of Vietnam and German Cooperation Development Agency GIZ co-organise an International Symposium on “Digital transformation in banking and finance system towards financial inclusion and sustainable development” on October 25th 2019 in Hanoi.

Vietnam attracted 29.11 billion USD in foreign direct investment (FDI) in the first ten months of 2019, up 4.3 percent over the same period last year, according to the Ministry of Planning and Investment.

Vietnam was placed at the 70th position out of 190 economies in the World Bank (WB)’s latest report on 2020 Ease of Doing Business ranking.

Measures to boost cooperative ties between Vietnam and the Republic of Korea (RoK) in the fields of trade, investment, labour, environment, infrastructure, science-technology, banking-finance, among others were discussed at the 17th session of the Vietnam-RoK Joint Economic Committee in Hanoi on October 23rd.

The Vietnamese Ministry of Industry and Trade (MoIT)’s Industry Agency and the UN Industrial Development Organisation (UNIDO) on October 22nd released the Vietnam Industry White Paper 2019.

The 9th meeting of the RoK-Vietnam Joint Committee on Energy, Industry and Trade cooperation took place in Seoul on October 22nd, aiming to concretize potential between the two countries.

A ceremony was held in Hanoi on October 22nd to announce the export of Vietnam’s first batch of dairy products to China under a protocol signed between the Vietnamese Ministry of Agriculture and Rural Development and the General Administration of Customs of China on April 26th, 2019.

(CPV) - South Africa is the biggest trade partner of Vietnam in Africa. Bilateral trade turnover continuously increased over the past years and reached over USD1.1 billion last year, including over USD724 million of Vietnam’s export.

The amount of petrol and oil imported to Vietnam in September 2019 reached an estimated 750,000 tons, worth about USD435 million, according to statistics of the Ministry of Industry and Trade.

In recent years, Quang Ninh’s socio-economic development has made great progress thanks to mass contribution of foreign direct investment (FDI) projects, especially large - scale projects.

The Ho Chi Minh (HCM) city People’s Committee in association with the Embassy of Finland in Vietnam launched the 2019 Innovation, Startup and Entrepreneurship Week (WHISE 2019) from October 15th to 19th.

Two trade promotion events will be organized in Thailand and Australia by the Ho Chi Minh City Department of Industry and Trade and foreign partners in October and November.

The Vietnamese Government stands ready to create all possible conditions for foreign investors, including those from the United Arab Emirates (UAE), Deputy Prime Minister Trinh Dinh Dung told UAE Minister of Economy Sheikh Sultan Bin Saeed Al Mansouri in Hanoi on October 15th.

(CPV) - With the existing strengths of the two countries, Vietnam and China see much potential to cooperate in the production and consumption of tea and coffee.

Vietnam has been named one of the rising stars of global trade with the sixth position among the top 20 markets with the greatest potential for future trade growth, according to a recent report by Standard Chartered.

Prime Minister Nguyen Xuan Phuc praised the important role of the Vietnamese business community in national development at a ceremony in Hanoi on October 13th to mark the 15th anniversary of Vietnam Entrepreneurs’ Day.

The Asian-African Market Department under the Ministry of Industry and Trade has announced that the General Administration of Customs of China has agreed to allow three more types of Vietnamese seafood to be exported to the country.

(CPV) - Inclusive Businesses go beyond philanthropy by integrating diversity and inclusion into their operations, combatting discrimination in both the workplace and society, while continuing to grow the business.