Trade – Investment

The State Bank of Vietnam (SBV) has set the 2019 credit growth target equivalent to the previous year at about 14 percent, according to SBV Deputy Governor Nguyen Thi Hong.

In 1998, after the Prime Minister issued Decision 514/QD-TTg adopting the project on the Dung Quat No. 1 Oil Refinery Plant under the Vietnam Oil and Gas Corporation (now the Vietnam Oil and Gas Group – PVN), the ground-breaking ceremony of the plant was officially held in Binh Tri commune, Binh Son district.

Lavifood Joint Stock Company on January 6th put into operation the Tanifood fruit and vegetable processing plant in Go Dau district in the southern province of Tay Ninh.

(CPV) - In 2018, the agriculture and rural development sector made outstanding achievements with GDP of agriculture, forestry and seafood increasing 3.76% and export turnover exceeding USD40 billion.

As many as 59.6 percent of domestic construction enterprises expect stable or better business in the first quarter of 2019, while 37.5 percent of firms said that they are likely to meet more difficulties, according to a survey launched by the General Statistics Office (GSO).

Logistics, considered an industry with huge contributions to the development of the economy, has not lived up to its potentials due to human resources shortage.

The People’s Committee of Ho Chi Minh City - the country’s southern largest economic hub – has unveiled several ambitious targets for 2019.

Hanoi shipped more than 19 tons of late ripe longan overseas, including 18 tons to the US and over 1 ton to Europe, reported Hanoimoi Newspaper.

The Ho Chi Minh Stock Exchange (HOSE) on January 5th announced the top 10 securities companies with the largest brokerage share and fund certificates in the fourth quarter of 2018.

The Van Don Economic Zone (EZ) in northeastern Quang Ninh province needs USD70.2 billion by 2050 for its investment demands, according to the provincial People’s Committee.

Vietnam is deemed highly likely to curb its inflation below 4 percent in 2019, experts said at a seminar in Hanoi on January 3rd, which focused on national market and price movements during 2018 and forecasts for 2019.

(CPV) - 2018 marked a year of eventful economic development with many significant results. In spite of challenges, the economy has fulfilled the set targets.

Vietnam’s total outbound investment in 2018 was estimated at USD432 million, according to the General Statistics Office.

The year 2018 witnessed comprehensive and outstanding achievements across fields thanks to great efforts of businessmen and people under the leadership of the Party, according to Prime Minister (PM) Nguyen Xuan Phuc.

The year 2018 ends with several records, which are the highlights in the national economic panorama, laying the firm foundation for the country to strive to successfully implement the Resolution of the 12th National Party Congress and Resolution 142/2016/QH13 on the five-year socio-economic development plan for 2016-2020.

The Securities Journalists Club has announced the top 10 outstanding events for Vietnam’s stock market in 2018.

The national flag carrier Vietnam Airlines on December 30th opened a new air route connecting Ho Chi Minh City and Van Don international airport in the northern coastal province of Quang Ninh, which officially became operational on the same day.

The national flag carrier, Vietnam Airlines, has reported that its revenues in 2018 are estimated to hit VND73.3 trillion (over USD3.1 billion), meeting 99.8 percent of its set plan.

The General Department of Vietnam Customs estimates the country’s trade surplus this year at USD7.21 billion, USD5.1 billion higher than the figure registered last year.

Exports of footwear, suitcases and bags of all kinds are estimated at USD19.5 billion in 2018, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

With the characteristics of modern technology and design, Van Don International Airport in Quang Ninh province also brings a different experience to passengers with a healthy ecosystem seen for the first time at an airport in Vietnam.

The total number of newly-established enterprises in 2018 was 131,275 with total registered capital of VND1.5 quadrillion(USD64.5 billion), up 3.5 percent and 14.1 percent, respectively, against last year.

Prime Minister Nguyen Xuan Phuc asked for taking businesses and people as the centre for development during a national conference between the Government and localities that closed in Hanoi on December 28th.

Vietnam’s forestry and aquatic product exports are expected to rake in 20.5 billion USD for the agricultural sector in 2019.

Vietnam absorbed USD35.46 billion of FDI capital in 2018, in which USD19.1 billion was disbursed, up 9.1% from the previous year, reported the Ministry of Planning and Investment’s Foreign Investment Agency.

2018 is considered a successful year in controlling inflation as the average consumer price index (CPI) rises by 3.54 percent from 2017 and 2.98 percent from last December, meeting the CPI growth target of under 4 percent.

(CPV) - Forestry export value reached more than USD9.3 billion in 2018, a year-on-year increase of 15.9%, said the Ministry of Agriculture and Rural Development’s Vietnam Administration of Forestry.

Vietnam gained its highest ever seafood export value of USD9 billion in 2018, a year-on-year rise of 8.4%, announced the Ministry of Agriculture and Rural Development on December 24th.

(CPV) - Hanoi continues to lead in FDI attraction in Vietnam in 2018 with more than USD7.5 billion, a 2.18-fold rise from the previous year. This is also the highest-ever rate after 30 years of realizing foreign investment attraction policy.

Masan Group on December 23rd opened its MNS chilled meat processing complex at the Dong Van IV Industrial Park in Kim Bang district of the northern province of Ha Nam.