Trade – Investment

The recovering European economy together with higher demand is providing Vietnamese enterprises with opportunities to promote exports and optimise advantages from the EU-Vietnam Free Trade Agreement (EVFTA), speeding up the recovery of production and business activities after a long period of suffering from COVID-19 impacts, according to experts.

The Republic of Korea’s Amkor Technology, Inc. will embark on the first-stage construction of its plant at Yen Phong II-C Industrial Park (IP) in the northern province of Bac Ninh in the first quarter of next year, said provincial authorities announced on November 5. ​

(CPV) - The Ho Chi Minh City Export Processing Zones and Industrial Parks Authority (HEPZA) has reported that nearly 96% of enterprises in export processing zones and industrial parks have resumed production.

Catfish is among seafood products imported with great value to the US. Of which, Vietnamese pangasius holds overwhelming market share in both quantity and value.

The capital needs 39 trillion VND to purchase essential goods during Lunar New Year (Tet) 2022, meeting the demand of 10.33 million people, said Acting Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan.

The Electricity of Vietnam (EVN) group has informed that 106 wind power plants with a total capacity of 5,755.5MW have sent documents and application documents for the program of energizing and connecting to the grid, testing and requesting recognition of commercial operation date (COD).

The US was the biggest consumer of Vietnam’s agricultural, forestry and fishery products in Jan-Oct 2021 with consumption worth over 10.8 billion USD, accounting for 27.9% of the market, reported the Ministry of Agriculture and Rural Development (MARD).

Over 257.3 trillion VND (11.1 billion USD) in public investment capital were disbursed as of late October, or 55.8 percent of the target assigned by the Prime Minister, reported the Finance Ministry.

Deputy Minister of Industry and Trade Dang Hoang An and his Russian counterpart Alexey Gruzdev had an online working session on November 3, during which the Russian side mentioned issues related to promoting the implementation of a protocol on cooperation in the automobile industry between the two countries.

Vietnam’s new-age carrier Vietjet and Safran, an international France-based high-technology group, have signed a comprehensive strategic partnership agreement during the official visit of Vietnam’s high-ranking Government delegation to France.

Vietnam is calling for foreign investments in 157 projects in the 2021-2025 period, according to a decision recently signed by Deputy Prime Minister Pham Binh Minh.

Total state budget collection in the first ten months of 2021 fulfilled about 90.9 percent of the estimate and was up 5.5 percent year-on-year, showed data released by the Ministry of Finance’s Department of State Budget.

Total retail sales of consumer goods and services in October was estimated at 56 trillion VND, up 59.8% from the previous month and up 5.1% compared to the same period last year, according to the Hanoi Statistics Office.

The number of newly-established enterprises in October increased in both quantity and registered capital against the same period last year, according to the General Statistics Office (GSO).

The Vietnam Railway Project Management Board under the Ministry of Transport has submitted to the ministry a project with total investment of over 2.2 trillion VND (95.88 million USD) to improve railway connections between Vietnam's Lao Cai Station and China's North Hekou Station.

Vietnamese Prime Minister Pham Minh Chinh’s visit to France from November 3-5 at the invitation of his French counterpart Jean Castex is expected to open up new opportunities and lift bilateral ties to a new height.

Forty-two out of 106 wind power plans registering for commercial operation received Commercial Operation Date (COD) acceptance as of October 29, according to the Electricity of Vietnam (EVN).

The first batch of wax coconuts from the Mekong Delta province of Tra Vinh worth 70,000 AUD (52,620 USD) exported to Australia has sold out after a short time of marketing, according to the Vietnam Trade Office in Australia.

As of October 20, foreign investment capital in Vietnam totaled 23.74 billion USD, a year-on-year increase of 1.1%, reported the Ministry of Planning and Investment (MPI).

Minister of Planning and Investment Nguyen Chi Dung presented a report on economic restructuring scheme for the 2021-2025 period and an examination report by the National Assembly’s Economic Committee during the ongoing second session of the 15th NA in Hanoi on October 29.

The northern province of Bac Ninh set a target of having about 800 enterprises operating in the field of supporting industries by 2025, of which 70% will apply a management system to meet the requirements of the global production chain.

The Hanoi Department of Industry and Trade has just developed a plan to organize a fruit festival in 2021, in order to support the connection of fruit product consumption and regional agricultural products to provinces and cities across the country, said Ms. Tran Thi Phuong Lan, acting Director of the Department.

In the first half of October, Vietnam spent more than 175 million USD importing auto parts and accessories, bringing import turnover of the commodity since the beginning of 2021 to nearly 3.9 billion USD, up 36.2% (equivalent to over 1 billion USD) year on year, according to the latest information from the General Department of Customs.

The Ministry of Agriculture and Rural Development, Ministry of Foreign Affairs and Ministry of Industry and Trade co-organised a seminar on promoting the export of Vietnamese fruits and vegetables to the European Union (EU) both online and offline.

Export of sugpo prawn to Spain in September increased nearly fourfold compared to the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

(CPV) - The Vietnam Bank for Social Policies’ (VBSP) branch in Hanoi has just held a conference to evaluate the loan entrustment work in the first 9 months of 2021 and carry out tasks in the remaining months of the year.

Vietnamese coffee prices have skyrocketed in recent weeks amid the country exporting 1.18 million tonnes of coffee worth 2.23 billion USD during the opening nine months of the year, according to statistics compiled by the General Department of Vietnam Customs.

Vietnam's cement and clinker exports have set a new record as the country exported a total of 32.7 million tonnes worth over 1.25 billion USD during the past nine months of the year, according to the latest statistics released by the Ministry of Industry and Trade.

Vietnam’s main export items to Laos in January-November 2021 include iron and steel products, machinery, equipment, tools and spare parts, and fertilizers of all kinds.

Groundbreaking ceremonies for four key projects were launched on October 24 in Quang Ninh Province, marking the reopening of one of the pillar economies in Vietnam after a long break due to COVID-19.