Trade – Investment

(CPV) - Canada continues to commit to helping Vietnam move forward on the path towards sustainable and inclusive growth. This is the goal of Canada’s Indo-Pacific strategy, and Vietnam holds a central place in this strategy.

Total policy credit capital by December 31, 2023 reached more than 346 trillion VND, an increase of more than 49 trillion VND (equivalent to 17%) against 2022, according to the Vietnam Bank for Social Policies (VBSP).

In the year of 2023, despite fluctuations in the world economy, Vietnam's macroeconomic picture still had many bright spots.

Deputy Prime Minister Tran Hong Ha has signed a decision to issue an implementation plan serving the Mekong Delta region planning for 2021 – 2030, with a vision towards 2050.

The investor community, businesses, and people enter 2024 with greater expectations about economic recovery and promoting growth to help the national economy make a breakthrough in the time ahead.

The State Bank of Vietnam (SBV) forecast that nearly VND2 quadrillion would be pumped into the national economy in 2024 to support economic recovery if the 15% credit growth target is met.

The Ministry of Oceans and Fisheries (MOF) of the Republic of Korea (RoK) said on January 5 that it has kicked off a corporate body in Vietnam, paving the way for the operation of a logistics centre in the Southeast Asian country to support small- and medium-sized enterprises.

Deputy Prime Minister Tran Luu Quang has just signed Decision 1740/QD-TTg approving the Project on developing the slaughterhouse industry and the livestock product market until 2030.

The Nutri Soil Import-Export Joint Stock Company held a ceremony to export the first container of macadamia to the Korean market, in Buon Ma Thuot city, the Central Highlands province of Dak Lak, on January 3.

Vietnam exported about 2.14 million tons of rubber in 2023, worth 2.89 billion USD, a decrease of 0.04% in volume and of 12.7% in value compared to 2022, according to statistics of the Ministry of Industry and Trade’s Department of Import-Export.

(CPV) - On January 1, 2024, Prime Minister Pham Minh Chinh signed official dispatch 01/CD-TTg requesting continuation of promoting the highest sense of responsibility, accelerating the progress of investment in construction of transportation infrastructure projects and works.

German car manufacturer Porsche has decided to recall its electric vehicle model Porsche Taycan 4S in Vietnam for a battery check.

Hai Phong, the largest port city in northern Vietnam attracted US$3.4 billion in foreign investment attraction (FDI) in 2023, ranking second in the country, according to the Hai Phong municipal statistics agency.

The domestic automobile market has faced both opportunities and challenges in the year 2023. Car experts believe that 2023 is a crucial year for Vietnam to establish itself as an emerging market in the auto industry, with hopes of achieving this status in 2024.

Some banks have announced adjustments to SMS banking fees starting from the beginning of 2024 and encouraged customers to switch to digital banking apps to get notifications for free.

Vietnam would import 71,835 tonnes of raw tobacco under tariff quota for 2024 set in a freshly issued circular by the Ministry of Industry and Trade (MoIT).

The Nghi Son Refinery & Petrochemical Limited Liability Company (NSRP) achieved a net revenue of about 6.4 billion USD in 2023 and contributed about 820 million USD to the State budget.

Vietnam’s stock market is set to grow in a stable, safe, healthy, effective and sustainable fashion under a freshly-approved strategy.

The central bank has warned people to take caution when trading gold amid the strong fluctuations of the precious metal.

Hanoi’s consumer price index (CPI) in December 2023 decreased by 0.1% from the previous month but increased by 4.77% against December 2022, according to the municipal Statistics Office.

Vietnam’s gross domestic product (GDP) in 2023 expanded by 5.05% from the previous year, according to the General Statistics Office (GSO).

Vietnam’s agro-forestry-aquatic exports enjoyed a record trade surplus of 12.07 billion USD in 2023, surging by 43.7%, and accounting for over 42.5% of the country's total trade surplus, heard a press conference in Hanoi on December 29.

Hanoi’s consumer price index (CPI) in 2023 is estimated to increase 2.04% year-on-year, according to the Hanoi Statistics Office.

Vietnam’s coffee export to Germany in November 2023 reached 18,150 tons, worth 48.55 million USD; up more than 1,590% in volume and up over 1,317% in value against October 2023, according to Ministry of Industry and Trade’s General Department of Customs.

Because of many negative impacts from the global economy, Vietnam’s exports to the European - American market in 2023 reached about 166 billion USD, down 9.6%, while imports are estimated at nearly 41 billion USD, down 9.1% against 2022, reported the Ministry of Industry and Trade.

The number of newly-established enterprises in 2023 reached 159,294, an increase of 7.2% from 2022 and a record level, according to the Ministry of Planning and Investment’s Business Registration Mangement Department.

As of December 20, 2023; total registered foreign investment capital in Vietnam reached nearly 36.61 billion, up 32.1% compared to the same period of 2022, according to statistics of the Ministry of Planning and Investment’s Foreign Investmnet Agency (FIA).

(CPV) - The Just Energy Transition Partnership Program (JETP) was signed between Vietnam and the International Partnership group on December 14, 2022. Less than a year later, the Resource Mobilization Plan (RMP) for JETP Implementation was announced by Prime Minister Pham Minh Chinh within the framework of the 28th Conference of the Parties to the United Nations Framework Convention on climate change (COP28).

The amount of remittances transferred to Ho Chi Minh City through the system of commercial banks and economic organizations that directly receive and pay foreign currency in 2023 is expected to reach about 8.92 billion USD, an increase of 35% compared to 2022.

Ho Chi Minh (HCM) City is expected to disburse more than 48.5 trillion VND of public investment capital in 2023, said the city Department of Planning and Investment in a recent conference .