Trade – Investment

Since the normalisation of bilateral relations in 1995, economic and trade ties between Vietnam and the US have seen great progress, with two-way trade hitting an all-time high of 90.8 billion USD in 2020, up 19.8 percent year-on-year, despite serious impacts of the COVID-19 pandemic.

The country made up the second largest supplier of wooden furniture to Australia during the first half of the year, with export turnover reaching 103.1 million USD in the reviewed period, representing a year-on-year rise of 72.1%, according to the Ministry of Industry and Trade.

Public investment disbursement of the central city of Da Nang was estimated to reach 3.4 trillion VND (over 149 million USD) as of August, according to the municipal Department of Planning and Investment.

The Ministry of Planning and Investment is developing a draft programme to support digital transformation in enterprises, cooperatives and business households for 2021-2025, to meet the practical and urgent needs of the fourth industrial revolution and tackling the pandemic.

Ho Chi Minh City aims to be among the group of provinces and cities achieving a high average PAPI score. In 2022 and the following years, its PAPI will be ranked in the group with the highest score.

The Vietnam Trade Office in Australia is now implementing a series of trade promotion activities for Vietnamese products, especially agricultural products.

Nearly 40 Vietnamese enterprises are exhibiting about 500 high-quality food brands in Singapore at the Vietnam National Brands Week 2021 – Hybrid Expo on Halal and Processed Food Products, which will last until August 28.

In order to realize the plan of safe production while preventing the COVID-19 epidemic, in spite of maintaining only one fifth the usual number of workers in factories, the Ho Chi Minh City Hi-Tech Park still increased export value compared to the same period of 2020.

(CPV) - The two-way trade turnover between Vietnam and the United Arab Emirates (UAE) totalled nearly 3.1 billion USD in the first 7 months of 2021, a year-on-year increase of 37.8%, according to the latest data from the General Department of Vietnam Customs.

The Korea Trade-Investment Promotion Agency in Hanoi (KOTRA Hanoi) will organize online trade activities from September 27 to October 1, 2021 to connect Vietnamese businesses with suppliers from Incheon city, the Republic of Korea.

Minister of Industry and Trade Nguyen Hong Dien has sent official letters to the Minister of Commerce of China and the Governor of Yunnan province (China) asking the Chinese side to facilitate customs clearance for and export of Vietnamese agricultural produce.

VinFast Manufacturing and Trading Co., Ltd and Gotion High-Tech Co., Ltd. (China) signed a Memorandum of Understanding on cooperation in research and production of LFP battery cells for VinFast electric vehicles.

More Japanese consumers prefer Vietnamese cashew nuts, reflected through an expansion of the market share of the product in the country’s total import value.

The Ministry of Industry and Trade (MoIT) has decided to maintain the anti-dumping measure imposed on some H-shaped steel products from Malaysia since April 2021.

Vietnam and Argentina have sought ways to raise their bilateral trade and diversify exports to gradually balance the trade during the seventh meeting of the Inter-Governmental Committee on Economic-Trade and Scientific-Technological Cooperation held virtually on August 20.

The northern mountainous province of Son La held a ceremony in Thuan Chau district on August 20 to export 10 tonnes of red-flesh dragon fruit to Russia.

(CPV) - As of August 17, 51 branches of the Vietnam Bank for Social Policies (VBSP) in provinces and cities nationwide disbursed nearly 170 billion VND to help 267 employers pay salaries for 48,737 employees.

(CPV) - The Vietnam Bank for Social Policies’ (VBSP) branch in Ho Chi Minh City has signed decisions of disbursement for the three businesses to borrow capital in accordance with the Government’s Resolution 68 on some solutions supporting employees and employers during the COVID-19 pandemic.

Vietnam's rice exports to the Philippines still won a lion share of 87 percent in the first half of this year.

As many as 315 companies has won the “Prestigious Export Business” title for 2020, according to the list unveiled by the Ministry of Industry and Trade (MoIT) on August 18.

As many as 4.75 tonnes of Russian ice cream have been shipped from Novosibirsk province to Vietnam.

The Ho Chi Minh (HCM) City People's Committee has permitted work on a series of urgent traffic projects to continue during the current social distancing period, said the city Department of Construction.

The Prime Minister has just approved the national seafood processing development strategy for 2021-2030 aiming at turning Vietnam into a seafood processing centre and joining the top 5 seafood processing countries in the world by 2030.

From August 18, more than 10,000 Australian consumers will be invited to try Vietnamese rice through a program promoting Vietnamese rice exports to the country.

Vietnam is the 6th largest wood furniture supplier to France, but the proportion accounts for only 4.5% of the total import value, still low compared to the import demand of the market.

Nearly 16.8 million TEUs of container cargo have been handled at Vietnamese seaports in the first eight months of 2021, up 18 percent from the same period last year, according the Vietnam Maritime Administration.

The Ministry of Transport (MoT) has asked provincial and municipal authorities to ease the travel of labourers at seaports so as to avoid the disruption of production and supply chains amid the COVID-19 pandemic.

Vietnam overtook Bangladesh as the world’s second largest exporter of ready-made garments (RMG), with a turnover of 29.8 billion USD, according to the World Trade Organisation.

Vietnam looks to connect 5 million farming households to e-commerce platforms this year, which would create breakthroughs in the development of the digital economy in the agriculture sector, Deputy Minister of Information and Communications Pham Anh Tuan said.

The plan of simplifying administrative procedures in the field of supporting small and medium-sized enterprises under the management of the Ministry of Planning and Investment will help cut 43.75% of the cost of administrative procedure compliance.