Trade – Investment

German car manufacturer Porsche has decided to recall its electric vehicle model Porsche Taycan 4S in Vietnam for a battery check.

Hai Phong, the largest port city in northern Vietnam attracted US$3.4 billion in foreign investment attraction (FDI) in 2023, ranking second in the country, according to the Hai Phong municipal statistics agency.

The domestic automobile market has faced both opportunities and challenges in the year 2023. Car experts believe that 2023 is a crucial year for Vietnam to establish itself as an emerging market in the auto industry, with hopes of achieving this status in 2024.

Some banks have announced adjustments to SMS banking fees starting from the beginning of 2024 and encouraged customers to switch to digital banking apps to get notifications for free.

Vietnam would import 71,835 tonnes of raw tobacco under tariff quota for 2024 set in a freshly issued circular by the Ministry of Industry and Trade (MoIT).

The Nghi Son Refinery & Petrochemical Limited Liability Company (NSRP) achieved a net revenue of about 6.4 billion USD in 2023 and contributed about 820 million USD to the State budget.

Vietnam’s stock market is set to grow in a stable, safe, healthy, effective and sustainable fashion under a freshly-approved strategy.

The central bank has warned people to take caution when trading gold amid the strong fluctuations of the precious metal.

Hanoi’s consumer price index (CPI) in December 2023 decreased by 0.1% from the previous month but increased by 4.77% against December 2022, according to the municipal Statistics Office.

Vietnam’s gross domestic product (GDP) in 2023 expanded by 5.05% from the previous year, according to the General Statistics Office (GSO).

Vietnam’s agro-forestry-aquatic exports enjoyed a record trade surplus of 12.07 billion USD in 2023, surging by 43.7%, and accounting for over 42.5% of the country's total trade surplus, heard a press conference in Hanoi on December 29.

Hanoi’s consumer price index (CPI) in 2023 is estimated to increase 2.04% year-on-year, according to the Hanoi Statistics Office.

Vietnam’s coffee export to Germany in November 2023 reached 18,150 tons, worth 48.55 million USD; up more than 1,590% in volume and up over 1,317% in value against October 2023, according to Ministry of Industry and Trade’s General Department of Customs.

Because of many negative impacts from the global economy, Vietnam’s exports to the European - American market in 2023 reached about 166 billion USD, down 9.6%, while imports are estimated at nearly 41 billion USD, down 9.1% against 2022, reported the Ministry of Industry and Trade.

The number of newly-established enterprises in 2023 reached 159,294, an increase of 7.2% from 2022 and a record level, according to the Ministry of Planning and Investment’s Business Registration Mangement Department.

As of December 20, 2023; total registered foreign investment capital in Vietnam reached nearly 36.61 billion, up 32.1% compared to the same period of 2022, according to statistics of the Ministry of Planning and Investment’s Foreign Investmnet Agency (FIA).

(CPV) - The Just Energy Transition Partnership Program (JETP) was signed between Vietnam and the International Partnership group on December 14, 2022. Less than a year later, the Resource Mobilization Plan (RMP) for JETP Implementation was announced by Prime Minister Pham Minh Chinh within the framework of the 28th Conference of the Parties to the United Nations Framework Convention on climate change (COP28).

The amount of remittances transferred to Ho Chi Minh City through the system of commercial banks and economic organizations that directly receive and pay foreign currency in 2023 is expected to reach about 8.92 billion USD, an increase of 35% compared to 2022.

Ho Chi Minh (HCM) City is expected to disburse more than 48.5 trillion VND of public investment capital in 2023, said the city Department of Planning and Investment in a recent conference .

In Vietnam’s national energy development strategy to 2030, with a vision to 2045, the Politburo set the task of developing the gas industry because its use is consistent with current world trends; helping reduce dependence on coal thermoelectricity, reduce emissions, protect the environment and aim at the country's sustainable development.

President Vo Van Thuong attended a ceremony in Quang Ngai on December 23 to celebrate 10 years of the Vietnam-Singapore Industrial Park (VSIP) in the central province.

The Vietnam Trade Office in Algeria on December 22 coordinated with the Carrefour supermarket system in Algeria to organise an activity to introduce and promote Vietnamese products at the Carrefour Hypermarket in the City Center Mall in the capital of Algiers.

Export and import turnover are estimated to total 683 billion USD in 2023, in which exports are estimated at 354.5 billion USD while imports reach 328.5 billion USD, according to the Ministry of Industry and Trade in a year-end conference.

The Prime Minister on December 22 issued a decision approving an investment policy for the first-stage construction and operation of infrastructure in the Vietnam-Singapore Industrial Park II (VSIP II), located in the Dung Quat Economic Zone, the central province of Quang Ngai.

The Hanoi Industrial and Export Processing Zones Authority (HIZA) on December 19 organized an on-site investment promotion conference for investors in Hanoi's industrial zones in 2023.

Recently, after being approved by Chinese authorities, watermelon has become Vietnam’s next agricultural product to be officially exported to the market of 1.4 billion people.

Bac Ninh will plan to develop 9 waterways, along with dozens of inland waterway ports along the Duong River, Cau River and Thai Binh River.

Prime Minister Pham Minh Chinh and leaders of Vietnamese ministries, agencies and localities on December 16 attended a dialogue with major Japanese economic corporations on green transition and social infrastructure, as part of his working trip to the East Asian country for attendance at the Commemorative Summit for the 50th Year of ASEAN- Japan Friendship and Cooperation and bilateral activities.

A local enterprise in the Mekong Delta province of Ca Mau has successfully exported a shipment of processed, frozen crabs and sweet snails to the United States after two years of preparations.

Prime Minister Pham Minh Chinh on December 16 attended a Vietnam-Japan economic forum in Tokyo as part of his ongoing trip to the East Asian country for attendance at the Commemorative Summit for the 50th Year of ASEAN-Japan Friendship and Cooperation and bilateral activities.