Trade – Investment

The International Expo on Support Industries and Processing - Manufacturing (VIMEXPO) 2020 kicked off in Hanoi on December 9, featuring nearly 250 stalls from over 170 exhibitors.

(CPV) – Ho Chi Minh city has approved the allocation of the 2020 credit plan for the job creation support loan program with capital of the Vietnam Bank for Social Policies (VBSP).

(CPV) – The Government leader has appointed Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam (SBV), to the position of Chairman of the Board of Directors of the Vietnam Bank for Social Policies (VBSP), to replace Mr. Le Minh Hung, PCC member and former Governor of SBV.

The index of industrial production (IIP) in November 2020 increased by 0.5% from the previous month and surged by 9.2% compared to the same period last year.

The 10th session of ASEAN Community Statistical System (ACSS) will be held on December 8 to 10 by the Vietnam General Statistics Office (GSO) and ASEAN Secretariat.

The Ho Chi Minh city Statistical Office on November 29 announced the city's consumer price index (CPI) in November 2020 was up 0.06% month on month.

As many as 114 new projects of Vietnam abroad received investment licenses with a total capital of 316.4 million USD in the Jan-Nov period, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

2020 is a particularly difficult year for Vietnam’s textile and garment industry as the market has many complicated and unpredicted fluctuations. Under the impact of the COVID-19 epidemic, textiles and garments are one of the industries with the greatest direct losses, along with tourism, aviation and footwear.

(CPV) – The Vietnam Bank for Social Policies (VBSP) said that, as of the end of last week, 75 employers were allowed to borrow capital to pay salaries for 3,851 employees whose work has been suspended due to the COVID-19 pandemic.

Implemented investment capital from the state budget in November reached 54.5 trillion VND, up 37.1% from the same period last year, including 11 trillion VND of centrally- managed capital, up 51.3%; 43.5 trillion VND of locally managed capital, up 34%.

The consumer price index (CPI) of the whole country in November decreased by 0.01% from the previous month and increased by 1.48% compared to the same period last year, reported the General Statistics Office (GSO) on November 29.

Vietnam saw a trade surplus of 20.1 billion USD in the Jan-Nov period of 2020, the highest on record, despite the negative effects of the COVID-19 pandemic on the global economy, according to the General Statistics Office (GSO).

The export price of Vietnamese rice has increased by USD20-30 per tonne in November compared to last month.

Vietnam’s exports only accounted for 2% of the European market share, said Vietnamese trade counselors in Europe in a conference recently held to promote trade to the market.

Thirty-three local and international investment funds have committed to pouring USD815 million into innovation start-ups in Vietnam in the 2021-2025 period, reported Sai Gon Giai Phong News.

The volume of cargo through Vietnamese seaports in the Jan-Nov period maintained growth momentum despite the COVID-19 pandemic.

As many as 283 brands managed by 124 enterprises were honoured as Vietnam National Brands 2020 at a ceremony recently held in Hanoi.

(CPV) – Vietnam’s organic agricultural production area reached nearly 240,000 hectares, an increase of 5 fold compared to 2016. Currently, 46 out of 63 provinces and cities are carrying out organic production.

(CPV) - Despite fruit and vegetable exports enduring a downward trajectory due to the COVID-19 pandemic, the export of local processed fruit and vegetables has witnessed vigorous growth over the opening nine months of the year, according to Ministry of Industry and Trade (MoIT).

(CPV) – 40 businesses have received disbursement from the VND16-trillion support package of the Vietnam Bank for Social Policies (VBSP) for loans to pay salary for workers, with zero percentage interest rate within 12 months.

“Vietnam’s economy is also less dependent than other Southeast Asian nations on tourism, which accounted for 9% of its GDP in 2018, compared with 32% for Cambodia and 20% for Thailand. It has thus faced less pressure due to the collapse of international travel,” said Asia Times.

Despite serious impacts from the COVID-19 pandemic, Vietnam exported over 422,000 tonnes of cashew kernels in the first 10 months of this year, up 12% over the same period in 2019, meeting 94% of the set plan for 2020, Nhan Dan news has reported.

(13th Congress) - China has retained its position as Vietnam’s largest trade partner and has become the first market to reach USD100 billion in terms of bilateral trade turnover, with this figure being achieved by the end of October.

Nearly 200 businesses will promote their products in booths at the upcoming 2020 Vietnam International Agriculture Fair (AgroViet 2020), heard a press conference in Hanoi on November 23, according to Vietnam News Agency.

(CPV) – The Vietnam Bank for Social Policy (VBSP) has offered a series of solutions to expand the capacity of meeting credit for production and consumption like raising the maximum loan to VND100 million a household without loan guarantee and increasing the maximum loan term to 120 months for poor households, nearly-poor households, and households that have just escaped from poverty.

Between 14,000 and 16,000 foreigners have bought housing in Vietnam since July 2015, mostly from China, the Republic of Korea, Japan, Taiwan (China), and Singapore, the Ho Chi Minh City Real Estate Association (HoREA) estimates.

(CPV) - The Vietnam Bank for Social Policy (VBSP) has held a conference to review the quality of operations and credit at its branches in Soc Trang, Bac Lieu, Kien Giang and Ca Mau provinces.

Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh attended the 31st Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting held via videoconference on November 16 evening under the chair of Malaysian Minister of International Trade and Industry Mohamed Azmin Ali.

Ministers from 15 countries spanning the Asia-Pacific region on November 15 signed the Regional Comprehensive Economic Partnership (RCEP) Agreement after eight years of talks.

With the majority of votes in favor, the National Assembly (NA) officially approved state budget estimate for 2021.