Việt Nam needs to establish a value chain for spiny lobster with a focus on meeting China’s requirements regarding the origin of seeds and farming process to export into this market.
Vietnam’s exports rose last month with positive growth in shipments of computers and machines, but trade prospects for the remainder of this year remain uncertain amid weak demands, lender HSBC says.
Việt Nam’s businesses need to more effectively exploit bilateral and multilatral free trade agreements to promote trade between the two countries, according to experts at a workshop held in Hà Nội on Thursday.
The first batch of 16 tons of “Dien” pomelos from Luong Son district, the northern province of Hoa Binh, was exported to the U.S. on December 5.
Experts at a conference in Ho Chi Minh City on December 6 stressed the need for both producers and exporters to change the mindset and approach to boost exports to China, a potential market for Vietnamese farm produce.
Vietnam’s trade in the first 11 months fell 8% to US$620 billion, its lowest point in three years, as factories scale down operations due to the ongoing shortage of orders.
Vietnamese firms should use additional caution to avoid increasingly sophisticated scams in international trade, Deputy Director of the Vietnam Trade Promotion Agency Hoan Minh Chien said.
According to the Ministry of Planning and Investment, in the first 11 months of 2023, the trade surplus was US$25.83 billion whereas it had been only US$10.3 billion in the same period last year. Export turnover of goods was $322.5 billion, while import turnover was $296.67 billion.
The Eurasia region, comprising 28 countries stretching from Eastern Europe to Central Asia with a population of more than 400 million and a total GDP of nearly 4.5 trillion USD, is considered a potential export market of Vietnam, according to experts.
Vietnam has become the second largest exporter of banana to China, behind only the Philippines, accounting for 28.2% of the total amount of bananas imported by the market, the Import-Export Department under the Ministry of Industry and Trade has announced.
Markets were subdued on Thursday, which was in line with the Asia market’s trend, but losses were capped by gains in large-cap stocks.
The number of investment projects initiated by the UK in Vietnam is on the rise, with many British enterprises actively seeking partnerships in the Vietnamese market.
The National Assembly proposed 12 groups of comprehensive solutions in all economic sectors to achieve all targets set in a resolution on the socio-economic development plan for 2024.
A roundtable on Vietnam’s infrastructure readiness for semiconductor industry in Vietnam was organised by the Ministry of Planning and Investment (MPI) in collaboration with the National Innovation Centre (NIC) and the US Semiconductor Industry Association (SIA) in Hanoi on December 7.
The innovation ecosystem in Vietnam has experienced strong developments in recent years thanks to special attention from Party and state leaders. The country’s investment sources for innovative startups have continued to increase.
While Vietnam’s environment for the development of the innovation startup ecosystem is becoming more favourable, full legal and policy corridors are in need to help them take off.
Vietnam may record a GDP growth rate of 5.19% in 2023, lower than the 8.02% expansion last year but still higher than many other countries in the region and the world, the Central Institute for Economic Management (CIEM) predicted.
There remains ample room and potential for Ho Chi Minh City and Saint Petersburg City of Russia to increase trade turnover and expand investment cooperation in digital transformation, manufacturing and processing industry, pharmaceuticals, healthcare and education, heard a business forum in HCM City on December 5.
On December 3, the United States International Development Financial Corporation (DFC) and VinFast Auto (Nasdaq: VFS) signed a letter of Interest (LOI) to consider a formal application by VinFast for a $500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam.
Enhancing national competitiveness and capacity of domestic enterprises is vital for Việt Nam to climb up the global value chain in the new context of globalisation, heard a workshop held by Việt Nam Institute for Economic and Policy Research (VEPR) on Tuesday in Hà Nội.