Trade – Investment

The US Trade Representative (USTR), in its report released on January 15 on findings in the Section 301 investigation of Vietnam’s acts, policies, and practices related to currency valuation, did not mention or recommend the imposition of tariff or any sanction measures on Vietnam’s exports, the Ministry of Industry and Trade said on January 16.

Nearly 4,200 hectares of forest owned by Quy Nhon Forestry Co., Ltd in the central province of Binh Dinh have been granted the sustainable forest management certificate in accordance with the Forest Stewardship Council (FSC) standards.

The Ministry of Industry and Trade has announced two more Vietnamese dairy producers granted with transaction codes for exporting their products to China by the Chinese General Administration of Customs.

(CPV) – The Hai Van 2 road tunnel opening to traffic is expected to help boost socio-economic development and ensure the defence and security of the key central economic region, and deliver better connectivity and foster development in the central and Central Highlands regions and the country as a whole.

In 2020, the Government, all levels, departments and localities have been proactive in realizing the National Target Program on New-style Rural Areas Development and mobilizing social resources for the program, according to the Ministry of Agriculture and Rural Development.

(CPV) – Volume of exported rubber in 2020 reached an estimated 1.75 million tons, worth 2.38 billion USD, up 2.8% in volume and up 3.5% in value against last year, according to the Ministry of Agriculture and Rural Development’s Agro Processing and Market Development Authority.

The revenue of Vietnamese network operators reached more than 130 trillion VND (5.62 billion USD) in 2020, up 0.3 percent year-on-year, according to the statistics from Ministry of Information and Communication.

Three major transport projects will be put into operation from January 10-12, according to the Ministry of Transport.

Prime Minister Nguyen Xuan Phuc on January 9 cut the ribbon to put the interchange connecting Belt Road No 3 and the Hanoi-Hai Phong Expressway into operations.

A survey of the implementation of Ho Chi Minh city tourism development strategy by 2030 showed that entertainment and night activities are one of the three tourism products most favored by tourists, besides cultural-historical tourism and cuisine.

The Ministry of Construction (MoC) and the German Cooperation Organisation (GIZ) on January 6 signed a Memorandum of Understanding (MoU) on cooperation in developing the Vietnam Green Housing Programme, expected to save about 6.3 billion kWh of electricity over the next decade.

Vietnam earned over 3 billion USD from exporting rice in 2020, according to the Vietnam Food Association (VFA), a year-on-year increase of more than 10 percent.

A batch of 160 tonnes of frozen shrimp products from the Minh Phu Seafood Corporation left port for the US, Europe, and Japan after a ceremony in the Mekong Delta province of Hau Giang on January 5.

(CPV) – Many essential goods prices are forecast to fluctuate in 2021, thus the Consumer Price Index (CPI) will rise more sharply than in 2020. However, the average price hike for the whole year is projected to be less than 4%, as the target set by the National Assembly (NA).

Six Vietnamese firms are among exhibitors at a virtual international agricultural expo in Algeria held by Andalus Trade, Show, Exhibits and Events (Andalus Tsee) from January 1 – 31.

The Vietnam Electricity Group (EVN) is planning to have all equipment on transmission lines and 80 percent of 110 kV circuit facilities digitalised from now to 2022.

Vietnam and the UK concluded necessary procedures for the temporary application of the bilateral free trade agreement from 6am of January 1, 2021 (Vietnam time) following the signing of the deal on December 29, 2020.

The early morning of January 1 saw Da Nang Port Joint Stock Company welcome a ship bearing the flag of the Marshall Islands as the first vessel to dock at Da Nang port in 2021, with a haul of 15,000 tonnes.

Vietnam's total import-export turnover enjoyed a surge of 5.1% to US$543.9 billion compared to 2019 despite facing numerous difficulties throughout 2020, with the country posting a trade surplus of US$19.1 billion, the highest level for five consecutive years since 2016, according to the General Statistics Office.

Total tax collection in 2020 is estimated at over 1.26 quadrillion VND (54.37 billion USD), equivalent to 100.6 percent of the estimate, Deputy Director of the General Department of Taxation Dang Ngoc Minh said on December 31.

Vietnam is set to be home to 26 airports by 2030, 14 of which will be international, according to a draft master plan on the development of the national airport network to 2030 and vision to 2050 from the Civil Aviation Administration of Vietnam (CAAV).

The UK-Vietnam Free Trade Agreement (UKVFTA), which will come into force at 23:00 on December 31, 2020, will open the door wider for bilateral economic and trade ties and help form a solid foundation for their strategic partnership to reach a new height.

Singapore leads in FDI inflows into Vietnam in 2020, with a total investment of nearly 9 billion USD, accounting for 31.5% of the country’s total FDI capital.

(CPV) - Vietnam and India have much potential for cooperation in the textile and garment sector. India owns a long-standing textile industry, with the strength based on a wide range of natural fibers such as cotton, jute, silk and wool that is valuable for Vietnam to boost cooperation in the sector.

Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz affirmed that Vietnam continues to be Cuba’s second trade partner in Asia and one of the 20 highest potential Cuban partners globally.

(CPV) – In 2021, the Hanoi Department of Industry and Trade plans to continue surveying, selecting and opening 40 more showrooms for goods from the local “One Commune, One Product” (OCOP) program.

Quy Nhon Port is an important traffic hub and a gateway to the East Sea of the South Central region, Central Highlands and countries in the Mekong sub-region.

The Ho Chi Minh city Department of Industry and Trade on December 29 organized a fair to promote consumption with the theme of connecting with promotional types.

(CPV) – Hanoi’s Consumer Price Index (CPI) in December decreased by 0.02% from the previous month, dropping by 0.31% compared to the same period last year.

Hanoi has built plans to increase the amount of essential goods for Tet (Lunar New Year) 2021 by 7-22% compared to last Tet, with abundant goods supply basically meeting people’s consumption needs.