Trade – Investment

Foreign direct investment (FDI) into Vietnam since the beginning of the year has reached over 25.76 billion USD, up nearly 15% over the same period last year. Notably, newly registered capital increased sharply, both in number of projects and capital, however, additional capital decreased.

The People's Committee of the northern province of Yen Bai on October 27 coordinated with the Hai Phong Economic Zone Authority to organise a conference to promote and connect investment with businesses from the Republic of Korea (RoK).

(CPV) - Vietnam's electronics industry is booming, playing a key role in driving the country's trade and GDP growth over the past decade.

The second international exhibition on food, drink, restaurant, bakery and food service equipment, supplies & services (International Food & Hotel Hanoi 2023) will take place on November 21-23 at the International Centre of Exhibition (ICE), according to the event’s organisers.

A company in the Mekong Delta province of Tra Vinh on October 25 exported the first lot of a drink made from fresh coconut nectar to the US.

Singapore’s Energy Market Authority (EMA) on October 24 announced that it has given tentative approval for plans to import 1.2 gigawatts (GW) of primarily wind-generated electricity from Vietnam.

The value of Vietnam’s durian export in the first nine months of 2023 reached 1.63 billion USD, 14 times higher than the figure of same period last year, according to statistic of the General Department of Customs.

The Ministry of Industry and Trade’s Department of Export and Import has announced a list of 170 eligible rice exporters as of October 18.

Total export value of wood and wooden products reached 9.6 billion USD in Jaunuary-September 2023, down 21.8% from the same period last year.

The total remittances to Ho Chi Minh (HCM) City in the first 9 months of 2023 exceeds that of the whole of 2022. This is an impressive result and has a positive impact on many aspects of the economy.

Prime Minister Pham Minh Chinh received Chairman of John Swire & Sons Limited Guy Bradley in Hanoi on October 24, welcoming the UK-headquartered firm’s continuous expansion of investment and business activities in Vietnam.

Despite sluggish performance driven by a fall in steel prices, experts are optimistic about the steel industry’s recovery in 2024 as the Government's policies and the revised Land Law are put in place to support the realty market and the construction industry.

According to a recent report submitted by the Government to the National Assembly, the total foreign investment of Vietnam’s state-owned enterprises reached 6.6 billion USD as of December 31, 2022.

VinFast Auto, the leading electric vehicle maker of Vietnam that has listed its share on Nasdaq, has reached a US$1 billion share sale deal with Yorkville Advisors Global, in an effort to raise funds for its global operation expansion.

About 70 Vietnamese handicraft and gift companies are exhibiting their products at the MEGA Show Hong Kong (China) 2023 which is taking place in the special administrative region from October 21-23.

The Mekong Delta province of Bac Lieu is striving for over 1 billion USD in shrimp export revenue this year, said Chairman of the People’s Committee of Bac Lieu Pham Van Thieu.

Agro-forestry-fishery exports reeled in about 38.48 billion USD in the first nine months, of which 22.1% came from China - Vietnam’s biggest market of the products.

The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.

Foreign service providers paid more than 9 trillion VND (367.15 million USD) in tax through the online portal serving taxpayers engaging in e-commerce and business activities in the first nine months of this year, according to the General Department of Taxation.

A seminar was held in the Mekong Delta province of Ben Tre on October 20 to discuss developing a sustainable and safe coconut value chain to meet domestic consumption and export demand.

Secretary of the Party Committee of Binh Duong province Nguyen Van Loi has pledged all the best conditions possible to foreign investors so they can undertake long-term business effectively in the southern locality.

Total outstanding credit balance in Ho Chi Minh City reached more than 3.3 quadrillion VND by the end of September 2023, an increase of 0.72% compared to August 2023, according the State Bank of Vietnam’s (SBV) branch in the city.

The exhibition was attended by 106 booths displaying and promoting agricultural products, typical agricultural products, and OCOP products of 83 individuals and units who are farmers, cooperative groups, cooperatives, and handicraft establishments of Ho Chi Minh City and 17 provinces and cities nationwide.

Vietnam has been listed among the 34 countries where German businesses will receive better investment guarantees from the Government of Germany when they invest there.

An exposition on major industrial products of the capital, held by the Hanoi Department of Industry and Trade, is in full swing, featuring more than 200 stalls.

The Vietnam National Tourism Administration (VNAT) has organized a promotion program to introduce Vietnamese tourism in the Republic of Korea (RoK).

China remains Vietnam’s largest trading partner, accounting for 24.6% of the country’s total import-export turnover by the end of September 2023.

Vietnamese President Vo Van Thuong received Liang Hua, Chairman of Huawei – a leading Chinese group in ICT infrastructure, digital energy, cloud computing and terminal equipment, in Beijing on October 19 on the sidelines of the third Belt and Road Forum for International Cooperation.

Japan’s total official development assistance (ODA) commitment to Vietnam from April 2022 to March 2023 amounts to JPY18.9 billion (nearly VND31 trillion), excluding loans to the private sector, said Shimizu Akira, chief representative of the Vietnam Office under the Japan International Cooperation Agency (JICA).

With import-export turnover exceeding 80 billion USD in the first 9 months of 2023, trade between Vietnam and the US continues to prosper. The United States is now the largest export market for Vietnamese goods.