Trade – Investment

VinFast Auto, the leading electric vehicle maker of Vietnam that has listed its share on Nasdaq, has reached a US$1 billion share sale deal with Yorkville Advisors Global, in an effort to raise funds for its global operation expansion.

About 70 Vietnamese handicraft and gift companies are exhibiting their products at the MEGA Show Hong Kong (China) 2023 which is taking place in the special administrative region from October 21-23.

The Mekong Delta province of Bac Lieu is striving for over 1 billion USD in shrimp export revenue this year, said Chairman of the People’s Committee of Bac Lieu Pham Van Thieu.

Agro-forestry-fishery exports reeled in about 38.48 billion USD in the first nine months, of which 22.1% came from China - Vietnam’s biggest market of the products.

The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.

Foreign service providers paid more than 9 trillion VND (367.15 million USD) in tax through the online portal serving taxpayers engaging in e-commerce and business activities in the first nine months of this year, according to the General Department of Taxation.

A seminar was held in the Mekong Delta province of Ben Tre on October 20 to discuss developing a sustainable and safe coconut value chain to meet domestic consumption and export demand.

Secretary of the Party Committee of Binh Duong province Nguyen Van Loi has pledged all the best conditions possible to foreign investors so they can undertake long-term business effectively in the southern locality.

Total outstanding credit balance in Ho Chi Minh City reached more than 3.3 quadrillion VND by the end of September 2023, an increase of 0.72% compared to August 2023, according the State Bank of Vietnam’s (SBV) branch in the city.

The exhibition was attended by 106 booths displaying and promoting agricultural products, typical agricultural products, and OCOP products of 83 individuals and units who are farmers, cooperative groups, cooperatives, and handicraft establishments of Ho Chi Minh City and 17 provinces and cities nationwide.

Vietnam has been listed among the 34 countries where German businesses will receive better investment guarantees from the Government of Germany when they invest there.

An exposition on major industrial products of the capital, held by the Hanoi Department of Industry and Trade, is in full swing, featuring more than 200 stalls.

The Vietnam National Tourism Administration (VNAT) has organized a promotion program to introduce Vietnamese tourism in the Republic of Korea (RoK).

China remains Vietnam’s largest trading partner, accounting for 24.6% of the country’s total import-export turnover by the end of September 2023.

Vietnamese President Vo Van Thuong received Liang Hua, Chairman of Huawei – a leading Chinese group in ICT infrastructure, digital energy, cloud computing and terminal equipment, in Beijing on October 19 on the sidelines of the third Belt and Road Forum for International Cooperation.

Japan’s total official development assistance (ODA) commitment to Vietnam from April 2022 to March 2023 amounts to JPY18.9 billion (nearly VND31 trillion), excluding loans to the private sector, said Shimizu Akira, chief representative of the Vietnam Office under the Japan International Cooperation Agency (JICA).

With import-export turnover exceeding 80 billion USD in the first 9 months of 2023, trade between Vietnam and the US continues to prosper. The United States is now the largest export market for Vietnamese goods.

Import-export turnover of FDI enterprises totaled more than 341 billion USD in the first 9 months of the year, down 11.9% (equivalent to more than 46 billion USD), according to the latest preliminary statistics of the General Department of Customs.

Over the past 12 months, Vietnamese sellers on Amazon sold 17 million products to customers globally, with a total value increase of 50% compared to the previous period.

Total outstanding loan balance of the Vietnam Bank for Social Polices’ (VBSP) branch in Hanoi is now 13.628 trillion VND, in which the outstanding loan balance entrusted through socio-political organizations was 13.611 trillion VND, accounting for 99.9% of the total, while the entrusted balance rose by 901 billion VND compared to the beginning of the year.

Fruit and vegetable exports have hit a new record and forecast to bring home over 5.5 billion USD in 2023.

The first phase a milk cow farm of Vietnam’s TH Group was inaugurated on October 13 in Volokolamsk district, Russia’s Moscow oblast.

Vietnam is making strong progress in advancing its standing in the global semiconductor supply chain as many of the world’s largest chip manufacturers have landed in the Southeast Asian nation, insiders said.

The three best performing businesses in the Vietnam Environmental, Social, and Governance (ESG) Initiative 2023 were unveiled at a forum held in Hanoi on October 13.

Vietnam and Russia have signed two important agreements in the field of geological exploration, and oil and gas exploitation.

The northern province of Thai Binh introduced its potential and advantages to British enterprises at an investment promotion conference in London on October 12, pledging the best possible environment for all investors.

Vietnam’s economy has passed its trough, staging a modest recovery with stronger-than-expected growth of 5.3% in the third quarter, but upside risks to inflation have resurfaced, prompting the upgrade of 2023 average inflation forecast to 3.4%, said the HSBC.

The amount of sugar import allocation in 2023 by auction method is 119,000 tons, according to the Minstry of Industry and Trade.

The information was shared by Ms. Phan Thi Thu Cuc, Deputy Director in charge of the Khanh Hoa Department of Industry and Trade, at a recent investment promotion conference.

Indonesia is Vietnam’s highest growth rice export market since the beginning of the year with a value increase of 16 times.