Trade – Investment

Vietnam spent 1.43 billion USD importing 5.74 million tons of corn in the first seven months of 2024, up 1.9% in value and 34% in volume, according to the General Department of Customs.

The Republic of Korea (RoK) spent more than 164 million USD buying fruits and vegetables from Vietnam in the first half of 2024, an increase of nearly 55% over the same period last year.

Durian exports nationwide are forecast to reach about 1.7 billion USD in the first seven months of 2024, according to the Ministry of Agriculture and Rural Development.

With a total turnover of approximately 26 billion USD, Ho Chi Minh (HCM) City continues to hold the leading position in exports in the first seven months of 2024.

The Nigeria Customs Service has announced the implementation of a 0% import tax rate and exemption of value-added tax (VAT) on a number of food items imported into Nigeria, including those from Vietnam, according to the Vietnamese Trade Office in Nigeria.

Elite members of the Government, during a meeting on August 15, agreed to reduce the registration fee for domestically produced and assembled cars by half.

Since the beginning of 2024, industrial production in Hanoi continues to recover positivelyindustrial production in Hanoi continues to recover positively. In the first seven months of 2024, industrial production index (IIP) increased by 5.2% compare to the same period in 2023.

The northern province of Bac Ninh has just approved a list of investment attraction projects in the locality in 2024, with a vision to 2030, including 167 projects, with an area of ​​about 11,638 hectares, said Chairman of the provincial People’s Committee Vuong Quoc Tuan.

The northern province of Bac Ninh continues to be a top destination for foreign direct investment in Vietnam, thanks to its investor-friendly environment, modern infrastructure, and abundant workforce, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

(CPV) - In 2024, Vietnam’s durian product aims to achieve an export turnover of about 3 billion USD with the main export market of China. However, in order to develop the product in the long term, it is necessary to stabilize output, improve the quality to increase competitiveness, expand export markets, and avoid dependence on one market, China.

As of July 15, Vietnam's shrimp exports to the EU market reached 241 million USD, up 14% over the same period last year.

Commercial banks in Ho Chi Minh (HCM) City disbursed more than VND306.4 trillion in the first seven months of the year, equivalent to 60% of the support package with a total amount of VND509.864 trillion registered by commercial banks since the beginning of the year at the city Bank-Enterprise Connection Program in 2024.

India is the main export market for Vietnamese star anise in the first seven months of 2024, accounting for 63% and increasing by 7% over the same period in 2023.

The Vietnam-Canada Business Association (VCBA) on August 9 coordinated with the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) to organise a seminar in both in-person and online format to support Vietnamese enterprises in accessing the North American and Canadian markets.

Vietnam earned 4.29 billion USD from exporting textile and garment products in July, up 12.4% from the same period last year.

Over the past time, many programs to promote the development of the service industry have been focused on by Ho Chi Minh City and have achieved breakthrough developments.

Businesses, factories, industrial parks and export processing zones need to have road maps and measures for switching from traditional to green models to meet the global sustainable trend and enhance their competitiveness, and attract investment, a seminar heard in Ho Chi Minh City on August 8.

Vietnam Railway will launch a cargo transport platform on August 10 with an aim of creating favourable conditions for customers to select the railway transport services.

The US ranked second among the largest markets of Vietnam’s pangasius as the country’s pangagius export value to the market reached nearly 160 million USD in the first half of this year, a year-on-year increase of 14%.

National Assembly Chairman Tran Thanh Man on August 8 made an on-site inspection of the construction of the Long Thanh international airport in the southern province of Dong Nai.

In the first seven months of 2024, bilateral trade between Vietnam and China reached USD112.9 billion. China is currently the largest import market for Vietnam.

Vietnam exported 5.18 million tons of rice in the first seven months of 2023, with a turnover of 3.27 billion USD, an increase of 25.1% in volume and 5.8% in value compared to the same period last year, according to the Ministry of Agriculture and Rural Development.

Hanoi granted certificates to 3,007 newly-established enterprises in July 2024, an increase of 20% over the same period last year; with a registered capital of 24.1 trillion VND, according to the City People’s Committee.

Chinese electric vehicle (EV) maker BYD has chosen Vietnam as a key market for its development in Southeast Asia, Vo Minh Luc, CEO of BYD Auto Vietnam, has said.

Vietnam's logistics industry is witnessing significant changes and has become an attractive destination for businesses and investors, insiders said at a series of seminars held within the on-going Vietnam International Logistics Exhibition (VILOG) 2024 in Ho Chi Minh City.

Ho Chi Minh City welcomes and stands ready to create favourable conditions for partners and investors from Hong Kong (China) to carry out projects and do business the southern largest economic hub, Chairman of the municipal People’s Committee Phan Van Mai said on August 2.

An international trade, tourism, and investment fair kicked off in the central city of Da Nang on August 2, aiming to showcase products of and enhance business ties between Vietnam and other countries along the East - West Economic Corridor (EWEC).

(CPV) - Following the recovery momentum from the end of 2023 and the first months of 2024, industrial production continues to show improvement and makes positive contribution to the overall growth results of the entire economy.

The Animal and Plant Quarantine Agency (APQA) of the Republic of Korea (RoK) has officially announced regulations for importing fresh pomelos from Vietnam on its website, according to the Plant Protection Department (PPD) under the Ministry of Agriculture and Rural Development (MARD).

(CPV) - On August 1, the Australian Government, in partnership with the Vietnamese Ministry of Science and Technology, announced the awarding of substantial grants to three cutting-edge agricultural technology projects through the component of Aus4Innovation Partnership Grants under the Aus4Innov ation Program.