Vietnam’s FDI businesses enjoy nearly USD29 billion export surplus

Thursday, 19/11/2020 18:56
Vietnam’s trade balance has a significant contribution of foreign direct investment (FDI) businesses during the past 10 months as they obtained an export trade surplus of USD28.92 billion despite the impact of the COVID-19 pandemic, according to VOV.
Photo for illustration (Source: hanoimoi.com.vn)

The General Department of Vietnam Customs released that Vietnam’s import-export value rose 2.7% to USD440 billion in 10 months compared to the same period last year. Businesses earned USD229.79 billion from exports and spent USD210.3 billion on imports, securing a trade surplus of USD19.5 billion.

Notably, three groups of hard currency earners, namely computers & electronic components, machinery & spare parts, and woodwork raked in USD36.4 billion, USD21 billion and USD10 billion, respectively, representing corresponding increases of 25%, 43.3% and nearly 12%.

In contrast, exports of other key products such as garments, footwear and mobile phones fell year on year by more than 9%, nearly 9%, and more than 4% respectively.

Meanwhile, the import value of raw materials and accessories for garments & leather shoes decreased by 13.5% over the same period, and machinery and equipment down by 0.6%.

The General Department of Vietnam Customs noted a large disparity between FDI businesses and domestic firms.

The import and export value of FDI businesses over 10 months reached USD295.86 billion, an increase of USD20.49 billion or 7.4% over the same period of 2019.

Of the total, they bagged USD162.39 billion from exports and spent USD133.47 billion on imports, thereby enjoying a trade surplus of USD28.92 billion.

According to VOV, Asia is Vietnam’s trade partner, making up 64.2%) of the country’s total trade in the reviewed period. Statistics show the 10-month import-export value to this market reached USD282.49 billion, up 0.8%, of which exports brought back USD113.31 billion.

The US was Vietnam’s largest export market, accounting for more than 27% of total export turnover. Key export items were machinery, equipment and spare parts, electronic products, mobile phones, computers, garments, footwear, wood and wood products.

Young Outstanding Research Prize in Physics presented to 32-year-old female scientist

A 32-year-old female scientist, a full-time researcher at the Institute of Advanced Materials Science of Ton Duc Thang University, has just been given the 2020 Young Research Prize by the Vietnamese Theoretical Physics Society, according to SGGP.

Female scientist Le Thi Cam Tu (Photo: tdtu.edu.vn)

She is Le Thi Cam Tu, who has been working at Ton Duc Thang University since October 2018. In 2019, she successfully defended her doctoral dissertation at HCMC University of Science under the Vietnam National University Ho Chi Minh City.

So far, she has written eight research works in International Scientific Indexing including two in Physical Review A, the premier journal in the field of atomic, molecular, and optical physics of the American Physical Society.

Young scientist Cam Tu was given the 2020 Young Research Prize for her two research works. The first is on the effect of the dynamic core-electron polarization of CO molecules on high-order harmonic generation. The second one is the influence of dynamic core-electron polarization on the structural minimum in high-order harmonics of CO2 molecules.

Vietnam among world’s top 4 countries in HIV/AIDS treatment

Vietnam has been listed as one of the four countries with the best HIV/AIDS treatment in the world, including Germany, Switzerland, the UK and Vietnam.

Photo for illustration (Source: thuvienphapluat.vn)

Mr. Hoang Dinh Canh, Deputy Director of the Vietnam Administration of HIV/AIDS Control (VAAC), said at a press conference on November 17 to mark National Action Month against HIV/AIDS.

Currently, Vietnam is home to approximately 250,000 HIV patients who are still alive, although only 190,000 are aware of their HIV status, Mr. Canh said.

At present, Vietnam has a rate of HIV-infected people receiving anti-retroviral (ARV) treatment with a viral load below the inhibitory threshold of over 96%, therefore contributing to reducing the community rate of HIV infection.

As of June, the country has provided ARV treatment to 153,000 people, ultimately stopping them from passing away due to AIDS.

Vietnam has been striving to carry out relevant prevention activities over the past 30 years since the first case of HIV was detected in 1990, and has achieved a number of positive results. However, HIV infection remains complicated and the rate is increasing in some high-risk groups, including among men who have sex with men, known as MSM, and drug addicts.

Most notably, each year approximately 10,000 new HIV cases are recorded, along with between 2,000 and 3,000 deaths nationwide. Indeed, the highest number of fatalities was recorded among people under the age of 30./.

Compiled by BTA

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