Trade – Investment

The Vietnam Oil and Gas Group (PetroVietnam) reported that its pre-tax profit in the first eight months of the year surpassed the set plan by 177 percent and tripled the figure for the same period last year, reaching 30.2 trillion VND (1.32 billion USD).

Being granted cultivation zone codes for export is a good sign for Hai Duong dragon fruit growers, opening up opportunities to improve economic efficiency of the fruit in the near future.

By the end of August 2021, the Ministry of Industry and Trade’s disbursement of public investment reached an estimated 161 billion VND, 49.4% of the year’s plan. By December 31, 2021, the Ministry expects to disburse 100% of the assigned year’s plan.

Chairman of Ho Chi Minh City People’s Committee Phan Van Mai has signed and issued a decision to establish a Steering Committee to develop a plan for COVID-19 prevention and control and economic recovery in the city.

Vietnamese agricultural product exporters that want to establish long-term business relationship with the UK need to have appropriate strategies, and approach potential partners in order to take advantage of export opportunities to this important market – the second biggest economy in Europe, advised Nguyen Canh Cuong, Vietnamese Trade Counselor in the UK, at a recent consulting webinar.

Standard Chartered Vietnam and the British Chamber of Commerce (Britcham) in Vietnam have signed a cooperation agreement to promote sustainable development in Vietnam and apply environment, society and governance (ESG) criteria in businesses.

The Ministry of Agriculture and Rural Development sets a target of earning 50 – 51 billion USD in export value of agro-forestry and fishery products by 2025 and 60 – 62 billion USD by 2030.

Chinese enterprises have re-started the import of fresh bananas from Vietnam through the Kim Thanh Border Gate in Lao Cai province, according to the Management Board of Lao Cai Province Economic Zone on September 1.

Implemented capital from the State budget in August 2021 reached an estimated 34.9 trillion VND, a decrease of 71% from the previous month and a reduction of 24.7% compared to the same period last year.

Hanoi lured more than 18.7 million USD of foreign direct investment (FDI) in August, raising the total FDI poured into the city in the first eight months of 2021 to 841.8 million USD, according to the city's Statistics Office.

The LG Display Vietnam Hai Phong Co. Ltd., has recently raised its investment by 1.4 billion USD, bringing the total investment of the entire project to 4.65 billion USD.

Vietnam's exports of non-alcoholic drinks to Australia rose 59 percent in the first half of 2021, with the products (excluding canned coffee) reeling in over 9.5 million USD in revenue.

In Jan-Aug 2021, the total additional registered investment capital into the economy is more than 2.6 quadrillion VND, including newly-registered and increased capital, according to the General Statistics Office (GSO).

The Ho Chi Minh City Tax Department said it has waived or reduced 123 billion VND of taxes for 86,197 household businesses hit by the COVID-19 epidemic.

Vietnam’s export turnover in the first eight months of 2021 rose by 21.5 percent year on year to 212.5 billion USD , despite a decline of 5.4 percent in August, the General Statistics Office (GSO) reported on August 29.

The Consumer Price Index (CPI) for the first eight months of 2021 picked up 1.79 percent year-on-year, the lowest increase for the same period since 2016, the General Statistics Office (GSO) announced on August 29.

Vietnam’s overseas investment surged 74.1 percent year on year to 575 million USD in the first eight months of 2021, according to the Ministry of Planning and Investment.

Vietnamese products are expected to account for over 85% of the stocks at modern distribution channels by 2025, according to a project to develop the domestic market.

Disbursement of foreign direct investment (FDI) capital in Vietnam hit USD11.58 billion this year to August 20, an increase of 2% compared to the same period last year, according to the Ministry of Planning and Investment.

The Vietnamese Consulate General in Hong Kong (China) will give priority to promoting investment and tourism ties between Vietnam and the region after the COVID-19 pandemic is put under control, with the aim of fully tapping cooperation potential between the two sides in the time to come, a Vietnamese diplomat has said.

Leaders of the northern province of Bac Ninh and Samsung Vietnam on August 26 made a trip to evaluate the results of the two enterprises including Hanpo Vina Joint Stock Company and Thinh Vuong Manufacturing and Trading Co Ltd participating in the "domestic business improvement consulting programme".

The State Bank of Vietnam (SBV) has issued a Decision 1349/QD-NHNN on interest rates applicable to reserve requirement deposits and excess reserves of credit institutions and foreign banks’ branches in the SBV.

There remains room for Vietnamese enterprises to promote their exports of farm produce such as rice and seafood to Italy besides other export items, according to the Vietnamese Trade Office in Italy.

The Management Board of Ho Chi Minh City Export Processing & Industrial Zones Authority (Hepza) has proposed that the City People’s Committee direct the synchronous implementation of urgent solutions to both prevent and control the epidemic and maintain production and business.

(CPV) - As of August 20, 2021, the total newly-registered capital, adjusted capital and contributed capital to purchase shares of foreign investors reached 19.12 billion USD, equivalent to 97.9% of the same period last year, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

The Ho Chi Minh (HCM) City People’s Committee has just decided to set up a working group helping solve difficulties and problems in finance - budget to serve the prevention and control of the COVID-19 epidemic in the city (referred to as the working group).

A webinar on “Strengthening investment cooperation between Vietnam and the Middle East: Potential, opportunities and new approaches” took place in Hanoi, on August 26.

Tan Cang Que Vo is an inland container depot located on the lower section of the Duong River, adjacent to Highway 18, near industrial parks in Bac Ninh, Bac Giang and Hai Duong provinces, with a scale of 10 ha, capable of accommodating barges with maximum tonnage of 160 TEUs.

Immediately after being elected as Chairman of Ho Chi Minh City People’s Committee, Mr. Phan Van Mai spoke with the press about the city’s upcoming plans in the context of the prolonged epidemic, especially reopening the economy to adapt to the epidemic situation.

(CPV) - With the theme “Meet Vietnam”, two diplomatic events organized by the Vietnamese Embassy in India have attracted the participation of more than 70 businesses, associations, and the Chambers of Commerce of Bangalore in Karnataka, and Chennai in Tamil Nadu, India.