Trade – Investment

The Politburo urged the Socioeconomic Sub-committee of the 14th National Party Congress to urgently finalise a draft report evaluating the five-year implementation of the 2021-2030 socioeconomic development strategy during a meeting in Hanoi on September 6.

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on September 6 for Tim Hughes, Senior Vice President for Global Business and Government Affairs of the US-based provider of spacecraft, satellite launch services, and satellite communications SpaceX, where he called for stronger cooperation in science-technology, innovation, artificial intelligence, and Internet of Things.

The value of Vietnam’s tuna exports to the EU as of August 15, 2024 increased by 28% compared to the same period last year, worth more than 133 million USD, according to the General Department of Vietnam Customs.

Vietnam earned 177 million USD from commodity exports to Myanmar in the first seven months of 2024, up 37% year on year, according to the General Department of Customs.

As the EU Deforestation Regulation (EUDR) is about to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act quickly to comply with this rule to sustain exports to this major market.

In the first seven months of 2024, Vietnam exported 5.18 million tons of rice, earning USD3.27 billion, marking a 5.8% increase in volume and a 25.1% increase in value compared to the same period in 2023. Vietnam's rice exports have made remarkable progress recently, with efforts to assert its position as the world's leading rice exporter.

Vietnam could ship more than 1 billion USD worth of pepper abroad for the whole 2024 on the back of high global demand and limited supply, according to the Vietnam Pepper and Spice Association (VPSA).

The Management Board of Industrial Parks in the northern province of Ha Nam on August 30 held a meeting with Japanese enterprises that are investing in industrial parks in the province.

Vietnam has recorded 11.8 billion USD in agro-forestry-fisheries trade surplus over the first eight months of 2024, surging 68.4% year on year, reported the Ministry of Agriculture and Rural Development (MARD).

(CPV) - Policy capital has supported nearly 6.8 million households to escape poverty, created jobs for more than 7.2 million workers, of which nearly 145,000 workers went to work abroad for a limited period.

In the first half of the year, Vietnam was the largest banana supplier to China. Vietnam’s banana exports to China reached 420,000 tons, up 18.5% over the same period.

The northern province of Bac Ninh has risen to 4th place nationwide in terms of ICT Index with a score of 0.664/1 point, up 6 places compared to 2022.

Cotton Day Vietnam 2024 will be held on September 27 in Ho Chi Minh (HCM) City to introduce information about the US cotton raw material market.

Export turnover of goods to the Japanese market since the beginning of the year has only increased at a low level, about 2.8% compared to the same period last year, said Mr. Tran Phu Lu, Director of the HCM City Investment and Trade Promotion Center (ITPC) at a recent meeting to export growth to Japan.

The National Concentrated Promotion Program 2024 (Vietnam Grand Sale 2024) is expected to take place from December 2 to 31, according to the Ministry of Industry and Trade.

Trade turnover between Vietnam and India reached 15 billion USD in 2022 while the figure only posted about 200 million USD in 2000. The result helped make India one of the eight largest trade partners of Vietnam.

Vietnam will build an international timber products trading center, according to Decision 895 recently issued by the Prime Minister.

The fifth Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO) with the theme “Connecting for Development” will officially return on October 17-19, 2024.

The second Vietnam - ASEAN International Furniture & Home Accessories Fair 2024 (VIFA ASEAN 2024) opened in Ho Chi Minh (HCM) City on August 27.

Vietnam’s fruit and vegetable exports are estimated to reach more than 700 million USD in August 2024, up 26.8% from the previous month and up 50.8% from the same period last year, according to the Vietnam Fruit and Vegetable Association.

Chairman of the HCM (Ho Chi Minh) City People’s Committee Phan Van Mai has just issued a directive on accelerating the payment and settlement of public investment project capital.

Accounting for over 7% of the market share, the nation currently makes up the world's third largest seafood exporter, behind only China and Norway, according to industry insiders.

Ho Chi Minh City highly evaluates its multifaceted cooperation with Japanese partners and looks forward to strengthening this relationship further with Japanese localities, said Vice Secretary of the municipal Party Committee and Chairwoman of the municipal People’s Council Nguyen Thi Le.

The organizers of the second Krong Pac Durian Festival on August 22 held a press conference to announce activities scheduled for the festival.

The Vietnam Food Association (VFA) on August 22, informed that Vietnam’s rice export price reached the world’s highest rate, surpassing those of Thailand and Pakistan.

Reports presented at the regular Government meeting for July 2024, held in the first week of August, highlighted positive economic and social outcomes, particularly the robust growth across all three sectors: agriculture, industry and services. During the meeting, Prime Minister Pham Minh Chinh set a GDP growth target for the third quarter of this year at 6.5%-7.0%.

Asia is Vietnam’s largest cinnamon import market. Indonesia and China are the two main cinnamon suppliers to Vietnam, with 148 tons and 54 tons.

Imports of pearls, gemstones and jewelry products from Singapore increased by 2.27 times in the first seven months of 2024.

Vietnam spent 1.43 billion USD importing 5.74 million tons of corn in the first seven months of 2024, up 1.9% in value and 34% in volume, according to the General Department of Customs.

The Republic of Korea (RoK) spent more than 164 million USD buying fruits and vegetables from Vietnam in the first half of 2024, an increase of nearly 55% over the same period last year.