Trade – Investment

The Civil Aviation Authority of Vietnam (CAAV) has recently proposed the removal of the cap for airfares on domestic routes operated by at least three carriers.

The number of patents granted to Viettel has increased by 142 percent a year which is nearly eight times higher than the country’s average increase of 18 percent.

Thanh Ha lychees from the northern province of Hai Duong are now officially on sale on one of Vietnam’s leading online marketplaces, Lazada, according to the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade).

Exports of cassava and cassava-based products were estimated to be worth 443 million USD in the first four months of the year, a year on-year increase of 23.9 percent, according to the Agro Processing and Market Development Authority.

In recent years, Venezuela’s export turnover to Vietnam has made positive changes, from 1.2 million USD in 2017 to 4.8 million USD in 2019, and the figure is expected to continue to rise in the near future.

Authorities of the south central coastal province of Khanh Hoa have sought the Prime Minister’s backing of two major projects with total investment of more than 27 billion USD proposed by the Millennium Energy Corp of the US at the Van Phong Economic Zone (EZ).

In the first 4 months of 2021, Bac Ninh province’s export and import of goods continued to reach the highest level in the period 2017-2021, while also reaching the highest level in trade surplus.

Vietnam-Lao two-way trade turnover in March and in the first quarter of 2021 saw an impressive increase, according to statistics of the Vietnam General Department of Customs.

Bamboo Airways is finalising preparations to operate regular direct flights from Ho Chi Minh City to San Francisco and Los Angeles of the US, starting September 1, 2021.

A new report finds that 43 percent of US-based respondents cited Vietnam among their top three buying geographies as of early 2021, doubled from 2019, according to Material Handling & Logistics, a US website.

Vietnam’s digital economy will likely reach 52 billion USD in value by 2025, according to the e-Conomy SEA 2019 report by Google, Temasek and Bain & Company.

Vietnam’s index of industrial production (IIP) in April is estimated to rise by 24.1 percent year-on-year, driven by the positive impact of free trade agreements (FTA), according to the General Statistics Office.

The consumer price index (CPI) in Ho Chi Minh City inched up 0.001 percent in April against March, according to the city’s Statistics Office.

HCM City reported a foreign direct investment (FDI) influx of 1.14 billion USD in the first four months of 2021, posting a year-on-year decline of 12.92 percent.

Vietnam’s investments abroad, including newly and additionally-registered capital during the opening four months of the year reached USD545.9 million, marking a 7.9-fold increase compared to the same period from last year.

Vietnam witnessed the growth of exports and imports in the first four months of 2021 hitting 10-year record high, data of the General Statistics Office (GSO) shows.

(CPV) – Ministry of Industry and Trade Nguyen Hong Dien stressed the importance of the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos while affirming that Vietnam always considers Lao friends and officers of the Embassy of Laos in Vietnam as comrades and extremely close friends.

Investors continuing to believe in the market and investment climate of Vietnam, and expanding production and business activities are votes to support the Government, ministries, departments and localities to make efforts to reform and build a modern administrative system, serving the business community to join hands for a prosperous Vietnam.

The second Trade Policy Review (TPR) session of the World Trade Organisation (WTO) for Vietnam was held in the form of videoconference on April 27.

Two years after it came into effect, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has helped Vietnam significantly boost its exports to other member nations and open the door to members in the Americas, which are bursting with potential, Deputy Minister of Industry and Trade Do Thang Hai told a seminar in Hanoi on April 27.

The capital Hanoi will focus on improving the efficiency of international integration, coordinating to comprehensively and effectively realize free trade agreements (FTAs), especially new-generation FTAs, commitments in the World Trade Organization (WTO) and ASEAN Economic Community.

Seafood export turnover in the first quarter of 2021 reached an estimated 1.64 billion USD, a year-on-year rise of 3%, said the Vietnam Association of Seafood Exporters and Producers (VASEP). Especially, tra fish and shrimp shipment to China increased again from March.

The Vietnamese Ministry of Agriculture and Rural Development (MARD) and the Russian Ministry of Agriculture held the second meeting of the countries’ agricultural working group and an agricultural business forum via videoconference on April 22.

Belgian enterprises expressed their interest in Vietnam’s economic prospects and business cooperation opportunities in the Southeast Asian country at a talk held in Brussels on April 22.

Vietnam’s e-commerce market will maintain its solid growth trajectory this year, analysts said at a ceremony announcing Vietnam’s E-Business Index within the framework of the Vietnam Online Business Forum on April 20.

Fostering connectivity between logistics providers and between them and companies in other sectors will create more opportunities for mutual support, thus creating large enterprises to lead the market, according to Deputy Minister of Industry and Trade Tran Quoc Khanh.

The Vietnam Trade Office in Australia called on businesses to continue promoting export of building materials, interior, exterior and garden decoration products to the Australian market.

Hanoi set a target of attracting 30-40 billion USD of foreign direct investment (FDI) during the 2021-2025 period, equivalent to 6-8 billion USD a year; about 20-30 billion USD of implemented capital, equivalent to 4-6 billion USD a year.

The Ministry of Agriculture and Rural Development (MARD) has said it is coordinating with United Nations Industrial Development Organization (UNIDO), the Embassy of Switzerland, and Dong Thap People’s Committee to boost mango exports to other countries.

(CPV) - With a PCI score of 75.09 in 2020, Quang Ninh took the lead in the PCI (Provincial Competitiveness Index) rankings in 2020, marking the fourth consecutive year the northern province has been on the top.