Trade – Investment

There are few opportunities for businesses to develop support industries in Vietnam amid the global economic crisis caused by COVID-19, according to economists.

The Ministry of Industry and Trade has urged firms to control the quality of pepper exported to India and develop solutions to cope with policies affecting the export of pepper from Vietnam.

An international business matching webinar was held in Hanoi on August 13 in an effort to promote the export of Vietnamese longan.

Vietnam and China should extend the working hours for customs clearance at border gates and restore cross-border trade at markets along the border, Le Hoang Oanh, Director of the Ministry of Industry and Trade (MoIT)’s Asia-Africa Market Department, told an online meeting on August 13.

Vietnam’s export is set to grow 5 percent annually from 2021 to 2025 to reach 340 billion USD in 2025, according to the Ministry of Industry and Trade (MoIT)’s plan on socio-economic development for the five-year period.

Ho Chi Minh city is planned to develop 300 more cooperatives and five cooperative alliances in the 2021-2030 period, according to a development strategy for collective economy recently released by the city People’s Committee.

(CPV) - Politburo member, Secretary of the PCC and Head of the PCC Commission for Economics Nguyen Van Binh asked delegates to contribute more ideas in the spirit of responsibility, construction and efficiency; especially suggesting orientations for Thai Binh to maximize potentials and advantages for rapid and sustainable development in the 2020-2025 period.

Politburo member and Secretary of the Ho Chi Minh city Party Committee Nguyen Thien Nhan proposed that District 2 should establish a service development council to shape service and commercial products for itself.

The “Vietnamese people use Vietnamese goods” campaign has helped raise consumer awareness about locally-produced goods and services, Deputy Minister of Industry and Trade Do Thang Hai said on August 12.

Since the beginning of the year, the country has installed more than 19,000 rooftop solar power projects with a total capacity of 541.66 MWp, said the Vietnam Electricity Group (EVN).

A trade development programme in remote, mountainous and island areas brought in positive results during 2015-2020, Deputy Minister of Industry and Trade Do Thang Hai has said.

The Vietnam Securities Depository (VSD) on August 10th said in July, 216 more foreign investors were granted securities trading codes by VSD.

The Government leader has approved the implementation plan of the Free Trade Agreement between the EU and Vietnam.

Overseas shipment of fruits and vegetables was valued at nearly USD2 billion in the Jan-July period, a year-on-year decrease of 12.3%, according to the Ministry of Agriculture and Rural Development.

Vietnam’s rice exports to Africa rose sharply in the first six months of 2020 and are expected to continue surging in the remainder of the year and in 2021, according to Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan.

Dozens of tonnes of Vietnamese longans have been exported to Australia and distributed in the states of South Australia and Western Australia over the past few weeks.

Wood and wooden product exports hit 1.05 billion USD in July, bringing the figure to 6.09 billion USD in the first seven months of this year, a year-on-year rise of 6.2 percent, the Ministry of Agriculture and Rural Development (MARD) has revealed.

Vietnam exported 3.9 million tonnes of rice, earning 1.9 billion USD, in the first seven months of this year, according to the Department of Agro Processing and Market Development under the Ministry of Agriculture and Rural Development.

The 4th meeting of the Vietnam-Japan Joint Committee on Cooperation in Industry, Trade and Energy was held in Hanoi on August 7 in the form of video conferencing.

Despite the difficulties posed by the COVID-19 pandemic, Vietnam’s cashew exports in the first half of the year increased by 16 percent in volume year-on-year and 1 percent in value to 232,000 tonnes and nearly 1.53 billion USD, according to the Vietnam Cashew Association (VINACAS).

As a gateway linking the Mekong Delta, Ho Chi Minh City, and the southeastern region, Tien Giang province with its role as an important part of the southern key economic region is becoming increasingly attractive to domestic and foreign investors.

The US is the only market among the main export markets of Vietnam’s shrimp recording continuous positive growth in the first half of the year, said the Vietnam Association of Seafood Exporters and Producers (VASEP) on August 5.

The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16.

(CPV) - Vietnam’s rice export value was estimated at USD1.9 billion in July 2020, a year-on-year increase of 10.9%, according to the Ministry of Agriculture and Rural Development’s Agricultural Products Processing and Development Department.

(CPV) – Provinces and cities in the Central and Central Highlands key economic region need to be determined in removing barriers and bottlenecks in socio-economic development; creating a favorable investment and business climate to boost private economic development and attract foreign investment flows in the world.

(CPV) – The ASEAN+3 Finance and Central Bank Deputies’ Meeting (AFCDM+3) has been considered as an important milestone in the ASEAN+3 financial cooperation progress in 2020 contributing to the Vietnam’s 2020 ASEAN Chairmanship. The outcomes of discussion will be reported to the ASEAN+3 Finance Ministers and Central Bank Governors in September 2020.

The Czech Ministry of Industry and Trade’s website mpo.cz has recently published an article titled “The Vietnamese market is opening up, a free trade agreement can save millions of crowns for Czech companies.”

The Taiwan (China) Food and Drug Administration has recently announced 674 Vietnamese businesses which are permitted to ship seafood to Taiwan (China).

David Jarkulisch, an economic diplomat from the Czech Republic, has spoke highly of positive changes in Vietnam’s revised Law on Investment which aims to attract and bolster efficiency of foreign investment.

Prime Minister Nguyen Xuan Phuc has approved a project to develop the night-time economy in Vietnam to allow some activities to run overnight until 6am of the next day in some major tourism cities and zones.