Trade – Investment

Deputy Minister of Industry and Trade Dang Hoang Giang and Danish Ambassador to Vietnam Kim Højlund Christensen co-chaired the first meeting of the Steering Committee of the Vietnam-Denmark Energy Partnership Programme in the period of 2020-2025 (DEPP3 Programme).

France’s CMA CGM Group and Vietnam’s International Transportation and Trading Joint Stock Company (ITC) launched a joint venture company to provide barge services in Vietnam on April 19.

Switzerland is a potential market for commodity exports. In recent years, the market always brings a high-value trade surplus for Vietnam.

The US continues to be Vietnam’s largest export market, accounting for 29.1% of the country’s export turnover.

In the first 2 months of 2022, Taiwan (China) imported the most tea from Vietnam, with 2,000 tons, worth 3 million USD, up 3.5% in volume and 0.9% in value over the same period last year, according to data from the Taiwan (China) Customs Administration cited by the Ministry of Industry and Trade’s Import-Export Department.

Statistical data of the General Department of Customs shows that export turnover from Vietnam to Australia in the first three months of 2022 has grown by 32.36% over the same period last year, valued at 1.38 billion USD.

Large enterprises are urgently and actively looking for imported coal sources from South Africa for domestic electricity production and industrial production.

The index of industrial production in the first quarter continued to flourish with a year-on-year increase of 7.07 percent, the General Statistics Office said.

The latest draft National Power Development Plan for the 2021 - 2030 period, with a vision to 2045 (PDP VIII) has made drastic reduction of CO2 emissions with no new coal-fired power plants to be built in the planning period, and with the switch from coal and natural gas to biomass, ammonia, and hydrogen, according to Deputy Minister of Industry and Trade Dang Hoang An.

The National Private Economic Development Research Board and the Handicraft and Wood Industry Association of Ho Chi Minh City have launched an initiative to develop a chief information officer network for the wood and wood processing industry to foster its digital transformation.

Retail and consumer service revenues enjoyed good growth in the first quarter of 2022, rising 4.4 percent from the same period last year to 1,318 trillion VND (57.55 billion USD), according to the General Statistics Office (GSO).

A consultation session on export to the Algerian market will be held on April 19 in Ho Chi Minh City as part of activities in the national programme on trade promotion in 2022, according to Deputy Director of the Trade Promotion Agency of the Ministry of Industry and Trade (MoIT) Le Hoang Tai.

Commercial banks in Ho Chi Minh City said that they will offer short-term interest loans of 5.9%-6.4% a year; and medium and long term loans of 6.5%-10% a year for the market stabilization program in 2022-2023.

Border guards of the northern province of Lao Cai and Hekou border management force of China’s Yunnan province discussed measures to intensify cooperation in law enforcement in the border areas during their talks on April 15.

An investment promotion conference with businesses of the Republic of Korea (RoK) was held in the northern port city of Hai Phong on April 15.

The International Finance Corporation (IFC) will continue its support to Vietnam, especially in green growth, climate change response and increasing productivity in the private sector, IFC Vice President for Asia and Pacific Garcia Mora pledged on April 15.

In 2022, more than 70 trade events with more than 1,000 Korean businesses and 1,500 businesses buying Vietnamese products will be hosted by the Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi.

The Vietnam Furniture Matching Week (VFMW) is taking place from April 13 to 20, including a wide range of trade promotion activities from online to offline.

Vietnam’s molluscs have been so far exported to 42 countries, with the main markets including: the EU, North America, the US, Portugal, and Spain, said Mr. Tran Cong Khoi, Deputy Head of the Aquaculture Department under the Directorate of Fisheries.

In the first quarter of 2022, export turnover of wood and wood products was estimated at 3.94 billion USD, a year-on-year increase of 3%, according to the Ministry of Industry and Trade’s Import-Export Department.

Ho Chi Minh City will need 59,000-65,500 employees in the second of this year, down 8 percent compared with the same period last year, if the COVID-19 pandemic is kept under control, the city’s Human Resources Forecast and Labour Market Information (FALMI) Centre said on April 11.

Exports and imports reported double-digit growth in the first quarter of 2022, signaling a good year for the foreign trade.

The Trade Promotion Agency and the Vietnam Logistics Business Association will first put up ‘Vietnam Logistics Service’ pavilion at the Vietnam Expo 2022 that is scheduled to take place from April 13 – 16.

Deputy Prime Minister Pham Binh Minh on April 8 signed the Prime Minister’s dispatch requesting the acceleration of disbursement of foreign official development assistance (ODA) and preferential loans.

The governments of Vietnam and Australia are promoting bilateral comprehensive cooperation in various fields, towards the 50th anniversary of the diplomatic ties in February 2023, Vietnamese Ambassador to Australia Nguyen Tat Thanh has said.

Vietnam makes up the world's third largest exporter of cassava and cassava-based products in terms of output, behind Thailand and Cambodia, and second only to Thailand in export turnover.

Vietnam and Japan have the potential to expand trade in various fields, particularly farm produce and food, experts said at a consultation for Vietnamese exporters held in both online and in-person formats on April 8.

The overall punctuality of the local aviation industry was 95.5 percent in the first quarter of this year, according to statistics from the Civil Aviation Authority of Vietnam (CAAV).

The Vietnamese economy expanded at 5.03 per cent in the first quarter of this year, according to the General Statistics Office.

Vietnam’s flower export turnover to Japan in January 2022 reached 352.1 million JPY (equivalent to 2.8 million USD), up 19.3% compared to the same period last year.