Trade – Investment

Vietnam is the sixth largest provider of processed fruits and vegetables for Russia, according to the Federal Customs Service of Russia.

The State Bank of Vietnam (SBV) has proposed to issue a separate law on bad debt settlement.

Binh Thuan dragon fruit was official granted the Protected Geographical Indication (PGI) certificate from the Ministry of Agriculture, Forestry and Fisheries of Japan (MAFF), on October 7, after more than 3 years of filing for geographical indication protection in Japan.

(CPV) - Vietnam exported about 195,000 tons of rubber in September 2021, worth 321 million USD; up 2.8% in volume and 3.1% in value from the previous month, according to the Ministry of Industry and Trade’s Import and Export Agency.

GDP up 1.42% in first nine months of 2021.

(CPV) - The Ministry of Natural Resources and Environment (MONRE) and United Nations Development Programme (UNDP) hold a consultation workshop on Circular Economy Policies and the Viet Nam Circular Economy Hub.

The agricultural sector remained a pillar of the country’s economy, bringing in 35.5 billion USD from the export of agro-forestry-fishery products in the fist nine months of this year, a 17.7 percent increase compared to the same period in 2020, according to the Ministry of Agriculture and Rural Development.

The consumer price index (CPI) rose by 1.82 percent year on year between January and September, the slowest hike since 2016, the General Statistics Office has announced.

The Civil Aviation Authority of Vietnam (CAAV) has shown its support for Bamboo Airways to conduct regular direct flights to the US in a recent report to the Ministry of Transport.

On October 4, workers at a number of export processing zones and industrial parks in Ho Chi Minh City returned to their factories, after the city issued Regulations on control and adjustment of measures to COVID-19 epidemic control and prevention, and gradual socio-economic recovery and development.

Hanoi’s authorities have decided to remove 28 administrative procedures in the field of investment.

The Ministry of Planning and Investment (MPI) is coordinating with relevant ministries, sectors and localities to study and build a programme on economic recovery and development in association with improvement of the economy’s internal capacity and self-reliance by 2023, with a goal to achieve an annual average GDP growth rate of 6.5-7 percent during 2021-2025.

Deputy Prime Minister Le Van Thanh on October 3 signed for issuance of a Prime Minister directive on restoring production at industrial production areas amid the COVID-19 pandemic.

The consumer price index (CPI) in September decreased by 0.62 percent from August and grew 2.06 percent against the same month in 2020.

Vietnam and the US have reached an agreement on illegal logging and timber trade that will avoid hefty tariffs on Vietnamese timber exports, according to the Vietnamese Ministry of Agriculture and Rural Development (MARD).

The Ministry of Planning and Investment has sketched out two scenarios for economic growth, Deputy Minister Tran Quoc Phuong told the press conference following the Government’s regular meeting in Hanoi on October 2.

Minister of Agriculture and Rural Development Le Minh Hoan on October 1 suggested EU firms increase investments in Vietnam’s agriculture, in the direction of high-technology, green standards and environmental sustainability.

The Mekong Delta province of Kien Giang earned over 526 million USD in export value in the first nine months of 2021, meeting over 70 percent of the year’s plan and posting a year-on-year rise of nearly 2 percent, according to the provincial Department of Industry and Trade.

Vietnam’s aquatic products have gained the favour of Australian consumers, Secretary of the Australian Department of Agriculture, Water and the Environment Andrew Metcalfe told a workshop on October 1.

Residential real estate in Vietnam is still one of the fastest-growing markets in Southeast Asia despite the fact that the COVID-19 pandemic has halted many economic activities, according to experts from property consultant Savills Vietnam.

After 5 consecutive months of trade deficit, Vietnam had a trade surplus of 0.5 billion USD in September, although the whole country still had a trade deficit of more than 2 billion USD in Jan-Sep 2021.

In September 2021, Vietnam had 3,899 newly-established enterprises, with a registered capital of 62.4 trillion VND; a decrease of 62.2% in the number of enterprises and a reduction of 69.3% in registered capital from the same period last year, according to the General Statistics Office (GSO).

Some districts, wholesale markets, and traditional markets in Ho Chi Minh City have said they were ready to reopen, after a long interruption due to the impact of the COVID-19 epidemic, with a step-by-step roadmap.

In Jan-August 2021, seafood exports reached 2.1 billion USD, up 7% over the same period last year.

The Ho Chi Minh City People’s Committee has made several suggestions for a draft decree on some solutions supporting businesses and individuals affected by the COVID-19 pandemic.

Vietnamese investment overseas reached 572.3 million USD in the first nine months of 2021, up 32.4 percent over the same period last year, according to the Ministry of Planning and Investment.

Mr. Duong Quyet Thang was re-appointed to the position of General Director of the Vietnam Bank for Social Policies (VBSP), while Mr. Luong Quoc Doan was appointed as a member of the Board of Directors of the bank.

The Vietnam-Australia trade posted growth in 2021 despite the impact of COVID-19, Director of the Asia-Africa Market Department under the Ministry of Industry and Trade (MoIT) Le Hoang Oanh has said.

The proactive implementation of social policy credit activities has contributed to overcoming the consequences of the COVID-19 epidemic, resuming socio-economic development in the Mekong Delta province of Ca Mau.

Member enterprises of the Sakai Chamber of Commerce and Industry (SCCI) doing business in Vietnam have made good evaluations about the country and expressed their wish to expand investment there, SCCI Chairman Kazumasa Kuzumura has said.