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| Photo for illustration. (Source: VOV) |
The GDCE did not reveal the detail, but statistics from the Cambodian Ministry of Commerce show that its main exports to Vietnam include rice, rubber, cashew nuts, cassava, corn, bananas, mangoes, tobacco and natural resources.
Currently, Vietnam is Cambodia’s second largest export market, after the US and ahead of China, Japan, and Thailand.
In January alone, Cambodia raked in US$1.97 billion from exports, up 27% year on year.
Lim Heng, vice president of the Cambodian Chamber of Commerce, attributed the rapid export growth to the gradual recovery of the global economy plus the increasing domestic production.
Cambodia has a large export market due to enjoying preferential tariffs with a number of partners, as well as the enforcement of bilateral and multilateral free trade agreements that Cambodia has signed with partners, said Lim Heng.
He expressed his belief that Cambodia’s export trade turnover would keep increasing in 2024 thanks to diverse and quality export products at competitive prices.
In addition to textiles and garments, Cambodia is also an exporter of agricultural products, electronic components, electronics and many essential goods.
Argentinian businesses hail investment environment in Vietnam
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| Argentinian businesses hail investment environment in Vietnam (Photo: VNA) |
Argentina's newspaper La Nacion has run an article highlighting the business climate in Vietnam and encouraging the country's firms to explore the Southeast Asian market, reported Vietnam News Agency.
The article underlined that Vietnam is the 10th largest economy in Asia with its GDP reaching 410 billion USD, a forecast growth of 6.5% and inflation of 3.4% in 2024.
In the first 11 months of 2023, Argentina exported nearly 2 billion USD worth of goods to Vietnam, and enjoyed a trade surplus of 640 million USD, it noted.
However, it pointed out that there are only a few Argentinian investors in Vietnam,.
It quoted Argentinian entrepreneurs Guillermo Cena and Santiago Campanera, who are running their business in Vietnam, as speaking highly of Vietnam - a land of opportunities for Argentinian exporters and investors.
Cena advised investors to make long-term plans and stay open to be ready to accept differences in culture, and asserted that the 100-million-strong market of Vietnam is a promising land for Argentinian products and services, with a high demand for high-quality food products.
Meanwhile, Campanera stressed that Vietnam is an open market economy, and called on Argentinian firms to explore opportunities in this stable and expanding economy. The Vietnamese Government always creates chances for production development and global integration, he stated.
Cena said that he plans to diversify agricultural products imported from Argentina in Vietnam, while Campanera advised Argentinian enterprises to launch businesses in Vietnam to better explore the demand of the local market.
Middle East the fourth largest importer of Vietnamese tuna: Association
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| A tuna is weighed in Khanh Hoa province. (Photo: VNA) |
The Middle East has become the fourth largest importer of Vietnamese tuna, behind only the US, the EU, and the CPTPP market, accounting for nearly 10% of Vietnam’s total tuna export turnover, Vietnam News Agency quoted figures of the Vietnam Association of Seafood Exporters and Producers (VASEP) has said.
Statistics from the General Department of Customs showed that Vietnam last year exported 82 million USD worth of tuna to the bloc.
Vietnamese tuna exports to several markets throughout the Middle East region recorded a considerable surge in 2023 compared to the previous year.
Specifically, tuna exports to Israel, Lebanon, the United Arab Emirates (UAE), and Turkey climbed by 37%, 17%, 23%, and 73%, respectively.
Exports to other markets in the bloc saw a strong decline including Egypt, down 47%, and Saudi Arabia, down 78%.
In recent years, facing many challenges from main consumer markets, Vietnamese tuna businesses have looked to smaller markets with potential such as the Middle East to diversify export markets.
But the bloc also sets forth high requirements for imported food products, including Halal certification, forcing local firms to process and package appropriately to meet these requirements.
Last year, Vietnamese tuna exports hit 845 million USD, a year-on-year decrease of 17%, according to VASEP.
In December alone, however, the exports recorded a slight increase of 7% year-on-year to 73 million USD, it said.
Vietnamese's tuna products are being shipped to 99 markets around the world.
Northcentral region eyes breakthroughs in investment attraction in 2024
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| Illustrative image (Photo: VNA) |
Localities in the northcentral region have made concerted efforts and implemented various measures to attract investment, especially foreign direct investment (FDI), contributing to socio-economic development in 2024, reported Vietnam News Agency.
Nghe An is the leading locality in the region in attracting investment capital in 2023.
The local authorities granted investment licenses to 116 projects and approved capital addition for 185 existing projects with a combined capital of over 57.89 trillion VND (nearly 2.36 billion USD). The total newly granted and additional capital of FDI projects hit 1.6 billion USD, up 66.8% compared to 2022.
According to the Southeast Economic Zone Management Board in Nghe An, the locality recorded six new investment projects with a total registered capital of 390 million USD in early 2024, all of them high-tech and environmentally friendly.
Le Tien Tri, director of the management board, said thanks to efforts of the local authorities to accelerate administrative reform and develop infrastructure and human resources, new investment have been pumped into the locality in recent times.
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| A corner of VSIP industrial park in Nghe An province (Photo: nhandan.vn) |
The locality supported and connected to provide 8,000 workers for FDI enterprises in 2023. The figure is expected to increase to 15,000 - 20,000 this year.
According to data released by the Foreign Investment Agency under the Ministry of Planning and Investment, Thanh Hoa was one of the localities that attracted the most FDI in 2023.
The locality lured 83 direct investment projects with a total registered capital of nearly 1.4 billion USD, including 14 foreign-invested ones.
Notably, the provincial authorities granted investment certificates to 15 domestic projects worth more than 10 trillion VND, and six FDI ones with a total capital of 50 million USD in the Nghi Son Economic Zone and industrial parks.
In 2023, Ha Tinh gave in-principle approval to 18 domestic investment projects with a total registered capital of 1.72 trillion VND and two foreign-invested projects worth 70 million USD.
Estimates show approximately 18.96 trillion VND in FDI was poured into the locality, surging by 99.17% year-on-year./.