Trade – Investment

Thailand’s SCG Packaging (SCGP) is joining hands with its Vietnamese partners under an investment worth 10 billion THB (334 million USD) to expand its packaging solution business in Vietnam, where demand for packaging products is growing.

The agriculture sector’s export target of 44 billion USD this year, set by Prime Minister Nguyen Xuan Phuc, is a high but feasible goal, Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said.

An enterprise based in the Mekong Delta province of Tra Vinh has been stepping up the export of coconut shell activated carbon and other coconut products as a way to benefit the company itself and local farmers.

Many economists say that Vietnam’s economy will accelerate again in 2021 as it will benefit from the technology-led recovery and shift of FDI inflows.

Some 190 tonnes of dragon fruits were shipped to China through Kim Thanh II International Border Gate in the northern province of Lao Cai on February 12, the first day of the lunar New Year.

Vietnam earned an estimated 700 million USD from exporting goods to Israel in 2020 despite difficulties and obstacles posed by the COVID-19 pandemic, according to the Vietnamese Trade Office in the Middle East country.

(CPV) - Although the COVID-19 pandemic is still complicated, the garment-textile sector targets 38-39 billion USD in export revenue in 2021, said Mr. Le Tien Truong, Chairman of the Board of Directors of Vietnam Textile and Garment Group (Vinatex).

(CPV) - On February 7, the Hai Phong city People’s Committee granted investment license to LG Display Vietnam Hai Phong’s project capitalized with 750 million USD. This is the first big foreign-invested project in the port of city in 2021.

(CPV) - Export turnover of agriculture, forestry and fishery in January 2021 reached an estimated 3.49 billion USD, a year-on-year increase of 27.1%, according to the Ministry of Agriculture and Rural Development.

Vietnam's tuna exports increased strongly in the first month of this year, especially to the US market with many orders.

The Cambodian Ministry of Commerce on February 5 issued a feedback document about the country’s recent suspension of catfish imports from several neighbouring countries, including Vietnam, reaffirming Cambodia’s commitment to complying with and supporting the spirit of trade liberalisation.

Nearly 10,100 enterprises were established in January, a 21.9 percent increase over the same time last year, according to the General Statistics Office of Vietnam.

Bilateral trade between Vietnam and Hungary hit a historic record of more than 1 billion USD in 2020, reflecting the enhanced relationship between the two countries in recent years.

The Communist Party of Vietnam (CPV) is an “architect” of great achievements in economic development, building democracy and enhancing the country’s position on the international arena, Steve Rutchinski of the Canada-Vietnam Friendship Society (CVFS) has said.

Effectively exploiting the Polish market is one of the ways to help Vietnamese goods make inroads into the EU market, experts told a workshop held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) on January 28 on the prospects for Vietnam’s exports to the EU through the Polish gateway.

Many tuna buyers in Khanh Hoa on January 27 said that orders for tuna from the US, Europe and Canada in the first month of 2021 increased sharply compared to the same period last year.

Total export turnover of forestry and wooden products reached 13.22 billion USD in 2020, said Mr. Nguyen Quoc Tri, Head of the Vietnam Administration of Forestry, said at a press conference held on January 27.

(CPV) - Intel has invested an additional 475 million USD in Intel Products Vietnam (IPV), its largest global electronic chip assembly and testing site, over the past 17 months, according to Nikkei Asia magazine.

In his presentation at the working session of the 13th National Party Congress on January 27, Nguyen Thanh Phong, Party Central Committee member, Deputy Secretary of the Ho Chi Minh City Party Committee and Chairman of the City People’s Committee, focused on analyzing issues relating to the development of knowledge-based economy which were being carried out in the city.

The top-quality fragrant rice was imported by the Long Dan Limited Company in the UK from the Vietnam National Seed Group (Vinaseed), and the rice is now sold at 15.5 GBP (21.28 USD) per kilogram at the firm's supermarket chain, reported Vietnam News Agency.

Vietnam and Ukraine have discussed measures to remove hurdles and facilitate bilateral trade cooperation at the 15th session of Vietnam-Ukraine Inter-Governmental Commission for Economic, Trade and Science and Technology Cooperation.

Banks will have to set aside money for potentially unrecoverable COVID-19 affected loans from this year, according to an amended circular drafted by the State Bank of Vietnam (SBV).

(CPV) - Viet Nam has successfully achieved the double goals of containing COVID-19 virus and achieving significant economic growth 2.91% in 2020 – one of the few countries in the world to record positive GDP growth in 2020.

Two-way trade turnover between Vietnam and China continues to remain stable in 2020, said the Ministry of Industry and Trade.

(CPV) – Hanoi continues to create favorable conditions to attract FDI investors, especially in hi-tech, said Politburo member and Secretary of Hanoi Party Committee Vuong Dinh Hue, while receiving representatives from FDI enterprises operating in the high technology industry on January 19.

The Government has just issued Resolution 195/NQ-CP on serious, synchronous and effective implementation of key tasks and solutions for 2021, with the aim of striving to achieve economic growth of 6-6.5%.

Ho Chi Minh City saw over 25 billion VND invested in 40 startup projects during 5 years, from 2016 to 2020, said the city Department of Science and Technology.

(CPV) - More than 450 delegates from ministries, branches, diplomatic agencies, international organizations, experts, economists, and domestic and foreign businesses attended an investment promotion conference of Quang Binh province held on January 17, in Dong Hoi city.

Vietnam earned an estimated 700 million USD from exporting goods to Israel in 2020 despite difficulties and obstacles posed by the COVID-19 pandemic, according to the Vietnamese Trade Office in the Middle East country.

Vietnam has emerged as an attractive foreign direct investment (FDI) destination in Asia, by beating China and India, a report by The Economist Intelligence Unit (EIU) has indicated.