Trade – Investment

Many electronics supermarkets in Hanoi have launched summer promotion programmes, reducing prices for cooling equipment such as air conditioners and fans, as the weather in the north of Vietnam has just begun to be hot and sunny.

Ambassador to Italy Duong Hai Hung has congratulated Vietnamese enterprises - the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Handicraft and Wood Industry Association of HCM City (HAWA) - for their initial success in showcasing Vietnamese products in Milan Design Week in Italy - a design & brand arena of furniture businesses around the world.

Vietnam has strong infrastructure and research and development incentives as well as a skilled workforce, making it an attractive for “eagles” worldwide in the electronics and semiconductor industry, according to Deputy Minister of Planning and Investment Tran Duy Dong.

Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has just sent an official dispatch to the Prime Minister, the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, and the Ministry of Foreign Affairs requesting the abolition of a tariff for Vietnamese shrimp imported into the Republic of Korea (RoK).

Fruit and vegetable exports to major markets in the first three months of the year recorded high growth. The Korean and Thai markets had a sudden increase, according to the Vietnam Fruit and Vegetable Association (Vinafruit).

(CPV) - On 17 April, the Australian Embassy in Vietnam and the Electricity Regulatory Authority of Vietnam (ERAV) signed a Memorandum of Understanding (MoU) on collaboration to facilitate the development of competitive electricity market.

Overseas remittances to Ho Chi Minh City exceeded 2.86 billion USD in the first quarter of 2024, an annual increase of 35.4% and the highest recorded in three consecutive years.

Authorities of Thu Duc city, Ho Chi Minh City, held a conference on April 17 to draw investment in 11 public-private partnership (PPP) projects in the fields of education, culture and sports, with a total capital of over 2 trillion VND (83.3 million USD).

As of March 15, 2024, Canada imported more than 8 million USD worth of pangasius from Vietnam, an increase of 43% over the same period in 2023.

The opening of the 2024 Da Nang beach tourism season will take place from April 26 to May 1 in East Sea Park, Son Tra Peninsula and My An, My Khe, T18, and Nguyen Tat Thanh beaches, said the management board of the Son Tra Peninsula and Da Nang tourist beaches on April 16.

The Ho Chi Minh City International Exhibition of Food and Beverage in 2024 (HCMC FOODEX 2024) will take place from May 15 - 18 at the Saigon Exhibition and Convention Center (SECC), heard a press conference on April 16.

Chili exports in March reached 1,523 tons with a value of 4.2 million USD, a sharp increase of 72.3% from the previous month, according to statistics from the Vietnam Pepper Association (VPA).

Ten domestically-manufactured offshore wind turbine towers are set to depart from Phu My Industrial Zone in the southern province of Ba Ria-Vung Tau by the end of April 2024, bound for Jeonnam 1 wind power project off the coast of the Republic of Korea (RoK)'s Jeonnam province.

Cryptocurrency is not banned in Vietnam but it is necessary to develop a legal framework to ensure its on-track development and prevent risks, a representative from the Ministry of Justice has said.

(CPV) - The Vietnam Bank for Social Policies (VBSP) in Hanoi on April 11 held a meeting to evaluate operation results of the first quarter and deploy directions and tasks for the second quarter of 2024.

Vietnamese Ambassador to Australia Pham Hung Tam on April 12 received Chairman of the South Australia-Vietnam Business Council Francis Wong, who underscored the state's keen interest in the Vietnamese market.

Trade between Vietnam and Latvia reached 311.73 million USD in 2023, an increase of 33% from 2020, the year the EU-Vietnam Free Trade Agreement (EVFTA) came into effect, heard a recent webinar titled “Gateway to Vietnam.”

Deputy Prime Minister Tran Hong Ha chaired the first meeting of the National Steering Committee on the implementation of the Strategy for Sustainable Development of Vietnam's Marine Economy till 2030, with a vision to 2045.

An economic cooperation forum on fostering ties between ASEAN and emerging economies, and Russia convened in Hanoi on April 12.

(CPV) - The future of the wood industry is not only processing and exporting wood products, but researching and processing value-added forest products, focusing on medicinal species and indigenous trees. It is one of the paths to sustainable wealth from forests, in addition to exploiting values from forest ecotourism.

Among the excellent brands honored with the Golden Dragon Awards 2024 are Samsung, LG Display, Intel, Qualcomm, Heineken, HSBC, Lego, SCG, UOB and Coca-Cola.

Vietnam exported 645 tons of star anise to the Indian market in March, an increase of 178% from the previous month, accounting for 65% of the country’s total star anise exports.

Asia is the largest export region for Vietnam’s pepper in the first quarter of 2024, India being the largest export market in the region.

Up to 71% of European businesses said they feel “positive” about the long-term prospects in Vietnam in the next 5 years.

Vietnam exported 147,000 tonnes of cashew nuts worth US$782 million in the first quarter of the year, representing a rise of 31.8% in volume and 20.5% in value year on year, according to the General Department of Vietnam Customs.

(CPV) – State budget revenue from import-export activities in March reached 31,935 billion VND, an increase of 3.9% from the previous month, according to the latest data from the General Department of Customs.

Vietnam’s exports of wood and wood products are estimated to reach 3.4 billion USD in the first 3 months of 2024, an increase of 18.9% over the same period in 2023.

A conference on promoting commerce, investment and trade connectivity between Vietnam and China’s Sichuan province was held in Hanoi on April 5, providing an opportunity to enhance bilateral cooperation and import-export of farm produce, aquatic products, and pharmaceutical materials.

Vietnam’s Ministry of Agriculture and Rural Development and TikTok in Vietnam have coordinated to summarize 1 year of cooperation in implementing the “OCOP (one commune one product) Market” model to support the consumption of Vietnamese agricultural products.