Trade – Investment

(CPV) - Representatives of PetroVietnam Insurance Corporation (PVI Insurance) have recently attended the 20th Singapore International Reinsurance Conference (SIRC), held at the Sands Expo and Convention Center, Marina Bay Sands, Singapore.

The fair, themed “Sharing Development - Cooperation for Mutual Benefit”, is an opportunity for businesses to introduce products, seek partners and expand markets.

The country spent 312.28 billion USD on imports of goods and raw materials, up 16.8% over the same period last year accounting for 89% of the imported goods for production recovery, said the Ministry of Industry and Trade on November 13.

(CPV) - The seafood sector has received good news as its export turnover returned to the 1 billion USD mark in October 2024 after more than 2 years. Besides positive signals and many growth opportunities from major import markets, the sector still faces many major challenges to complete the export target of 10 billion USD this year.

Viettel on November 13 officially announced the commercial launch of its Open RAN (O-RAN) 5G Network, featuring key equipment developed in-house at the 5G Open RAN Connect conference held at the Viettel High Tech headquarters in Hanoi.

Vietnam’s seafood exports were valued at over 1 billion USD in October 2024, according to the Ministry of Agriculture and Rural Development.

As of October 15, 2024, Vietnam’s pangasius exports to the Canadian market reached 32 million USD, up 10% over the same period last year.

The two-way trade turnover between Vietnam and China reached 168.5 billion USD in Jan-Oct 2024, according to the latest report from the General Statistics Office (GSO).

After 10 years of implementation, Directive 40-CT/TW of the Secretariat on strengthening the Party’s leadership over social policy credit has promoted its effectiveness with many outstanding achievements.

Vietnam’s industrial and digital sectors are experiencing a strong growth, fueled by a surge in foreign direct investment (FDI) inflows, large-scale infrastructure projects, and a favourable legal environment, according to Savills Vietnam.

The list of the 500 largest enterprises in Vietnam (VNR500) was revealed by the Vietnam Report JSC and online newspaper VietNamNet in Hanoi on November 8.

Vietnam's pepper exports saw a 1.9% year-on-year decrease in volume but a significant 48% increase in value thanks to higher prices in the first 10 months of 2024, according to the Vietnam Pepper and Spice Association (VPSA).

Retail sales of goods reached an estimated 4,048.6 trillion VND in the first ten months of 2024, accounting for 77.2% of the total and a year-on-year increase of 7.8%, according to the General Statistics Office (GSO).

(CPV) - Green consumption is becoming a trend in many countries around the world, especially popular in developed countries, and is spreading strongly to developing countries with average incomes and above.

Increases in prices of food, gasoline, oil and housing rental rates are the main contributors to the Consumer Price Index (CPI) rise in October 2024 nationwide, according to the General Statistics Office (GSO).

The upcoming official visit to Chile by President Luong Cuong is expected to open up new opportunities for trade relations between the two countries, especially as bilateral trade ties have made impressive progress in recent times.

Vietnam is expected to become a reliable partner in the global semiconductor supply chain, heard a workshop in Hanoi on November 7.

State budget collection from import and export activities surged 14.5% year-on-year to nearly 346.3 trillion VND (13.7 million USD) in the first 10 months of 2024, reaching 92.3% of the annual target, the General Department of Vietnam Customs reported on November 7.

As the world's third largest rice exporter, Vietnam spent nearly 1.2 billion USD importing rice over the past ten months.

The country’s seafood exports in October 2024 are estimated to reach more than 1 billion USD, a year-on-year rise of 28%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.

The Phan Rang-Thap Cham city sub-project – part of the Coastal Cities Sustainable Environment Project funded by the World Bank Group was inauguarted in the south-central province of Ninh Thuan on November 2 with improved infrastructure works that can benefit 69,000 local residents.

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.

Affordable bank credit has supported businesses in key sectors that drive the country’s economic growth, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City office, told a conference on October 31.

Vietnam recorded a 24% year-on-year increase in exports to the US in the second quarter, ranking second in the ASEAN region after the Philippines, which saw a 35% rise, according to Nikkei Asia trade data published on its site on October 31.

International organisations and experts have made positive comments on the Vietnamese economy, affirming their optimism about Vietnam's economic outlook.

In recent years, Bac Ninh province has prioritized cooperation, promotion and investment attraction efforts, successfully securing capital from major global corporations like Samsung, Canon, Nokia-Microsoft and Amkor. For several consecutive years, Bac Ninh has led the country in foreign direct investment (FDI).

Vietnam’s agro-forestry-aquatic product exports are likely to achieve a record high of 62 billion USD in 2024, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.