Trade – Investment

The Embassy of Vietnam in Venezuela and Colombia recently held a webinar on promoting cooperation in trade, investment and tourism between Vietnam and Colombia.

New Consul General of Vietnam to Vancouver (Canada) Nguyen Quang Trung had a virtual meeting with Minister of Jobs, Economic Recovery and Innovation Revi Kahlon and Minister of State for Trade George Chow of British Columbia province on April 16.

Vietnam welcomes the US Department of the Treasury’s positive adjustment to the content related to Vietnam in the department’s latest report on the macroeconomic and foreign exchange policies of major trading partners of the US, said Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang.

(CPV) – Mr. Hoang Giang, Deputy Secretary of the Central Businesses Bloc’s Party Committee was appointed to join the Lao Cai Party Committee as Deputy Secretary.

(CPV) – Although the COVID-19 epidemic severely affected trade exchanges of many countries, bilateral trade between Vietnam and India in the first months of 2021 continued to grow strongly, with remarkable results.

Ho Chi Minh (HCM) city’s economy showed signs of clear recovery as gross regional domestic product (GRDP) increased by 4.58% in the first quarter of 2021, much higher than the same period last year (0.42%), and state budget collection rose 15.43%, reaching over 104 trillion VND.

As of March 2021, more than 6.4 million poor and near-poor households got access to loans from the Vietnam Bank for Social Policies (VBSP).

In 2020, the fruit and vegetable sector earned 327 billion USD from export activities, in which mango contributed over 180 million USD, according to the Ministry of Agriculture and Rural Development’s latest report.

The law on managing the use of State capital invested in an enterprise's manufacturing has revealed shortcomings, according to the Ministry of Finance (MoF).

The “Policy Dialogue Meeting on the Distribution and Logistics Industry between Vietnam and the Republic of Korea” (RoK) was held via videoconference on April 9 by the Ministry of Industry and Trade (MoIT) and the RoK’s Ministry of Trade, Industry and Energy (MOTIE).

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.

The Ministry of Industry and Trade (MoIT) is ready to work with Argentine Ambassador to Vietnam Luis Pablo Maria Beltramino to boost economic, trade, and investment ties between the two nations, Deputy Minister Do Thang Hai has said.

The Republic of Korea (RoK)’s SK Group has announced that it will invest 410 million USD to hold a 16.26% stake in VinCommerce. With this transaction, VinCommerce is valued at 2.5 billion USD.

Fruit and vegetable exports to China, recovering after a decline in 2020, contributed to bringing fruit and vegetable export turnover in the first quarter of 2020 to nearly 950 million USD in the first quarter of 2021, a year-on-year rise of 6%.

From April 1, the Co.opmart supermarkets system will offer 50% discounts for 2,500 essential products, said the Saigon Union of Trading Cooperatives (Saigon Co.op).

(CPV) - Fitch Ratings has upgraded Vietnam’s Credit Rating outlook to positive and affirmed its BB rating.

A ceremony was held in Ha Tien city in the Mekong Delta province of Kien Giang on April 2 to announce the establishment of the Ha Tien Border-Gate Economic Zone, the province’s only economic zone.

The southernmost province of Ca Mau saw a number of bright spots in its socio-economic development during the first quarter of this year, a conference held by the provincial Party Committee on April 1 heard.

Vietnam always pays attention to creating favourable conditions for businesses and investors from the Republic of Korea (RoK) to expand their activities in the nation, said Prime Minister Nguyen Xuan Phuc, noting that the bilateral ties are getting stronger thanks to the presence of Korean conglomerates like Samsung, SK, Hanwha, Deawoo, and Lotte in Vietnam.

Vietnam’s export turnover of aquatic products in March has been estimated at around 640 million USD, bringing the total for the first quarter of the year to 1.64 billion USD, up 3 percent year-on-year.

Vietnam’s wooden products continued to gain trade surplus from the beginning of the year with more than 3 billion USD, reported the Vietnam Administration of Forestry.

Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4.48%, surpassing the 3.68% recorded in the same period last year, according to statistics of the General Statistics Office (GSO).

(CPV) - Newly-established enterprises and enterprises resuming operation in the first quarter of 2021 numbered 44,000. Thus, nearly 14,700 enterprises were established or resumed operations monthly on average.

(CPV) – The shopping demand after the Lunar New Year (Tet) holiday and decrease in food prices due to abundant supplies were the main causes lowering the consumer price index (CPI) in March by 0.27% from the previous month, reported General Statistics Office (GSO).

(CPV) – Foreign investors poured capital into 17 sectors, in which the processing and manufacturing sector took the lead with a total investment capital of nearly 5 billion USD, accounting for 49.6%, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

On the occasion of the 46th anniversary of liberation, Da Nang City received good news when the Prime Minister gave permission to study and establish a project to build it into a regional financial center.

Fifty five businesses will be presented with the the Vietnam National Quality Awards 2020, including 19 winning the golden prize, according to a Decision issued recently by Prime Minister Nguyen Xuan Phuc.

Deputy Minister of Foreign Affairs To Anh Dung on March 26 chaired a ceremony to exchange official notes between Vietnam and the UK confirming the effective date of the UK-Vietnam Free Trade Agreement (UKVFTA).

(CPV) – The Vietnamese Embassy in India has been actively working with vaccine production centers in India to exchange information on the purchase of India’s COVID-19 vaccines and propose the two countries cooperate to produce vaccines.

The OCOP programme has to date had 4,469 products with three-star and above ratings in 59 provinces and cities, 1.86 times higher than the target set for 2018-2020, according to a report from the Ministry of Agriculture and Rural Development.