Trade – Investment

Since the beginning of the year, 1,601 shipments of durian have been officially exported through the Huu Nghi International Border Gate in Lang Son province, equivalent to nearly 60,000 tons.

More than 30 Vietnamese businesses are displaying their products at Seoul Food 2023, the largest food exhibition in the Republic of Korea (RoK), which opened on May 30.

In the first 5 months of 2023, the trade balance of goods was estimated to have a trade surplus of USD9.8 billion, according to the General Statistics Office.

According to the Foreign Investment Agency, 20 countries and territories received investment from Vietnam in the first 5 months of 2023, totalling nearly USD316.4 million (equivalent to 93.5% over the same period).

The total foreign direct investment (FDI) registered in Vietnam reached nearly USD11 billion, down over 7% from the same period, according to the Foreign Investment Department.

Through nearly 40 direct trade deals, new commercial cooperation opportunities have been opened between enterprises in Ulsan city, the Republic of Korea (RoK) and Vietnamese importers.

Celebrating the 50th anniversary of bilateral relations between Argentina and Vietnam (1973-2023), Argentina will open its first leather factory in Vietnam.

Vietnamese enterprise Vinh Thanh Dat Food has exported a batch of liquid eggs to the Republic of Korea (RoK) for the first time.

Deputy Prime Minister Le Minh Khai has just signed a decision approving the Strategy on Development of Vietnam's Rice Export Markets until 2030, which aims to develop and diversify rice export markets with a reasonable, stable, and effective scale, market and product structure.

Officials of the Mekong Delta city of Can Tho city and relevant departments and sectors had a working session with representatives from Russian businesses on May 27 to discuss investment cooperation opportunities in terms of supply chain, import-export, technical infrastructure and logistics in the locality.

The Italian Trade Agency in Vietnam announced on May 26 that it has teamed up with the Italian Ministry of Foreign Affairs and International Cooperation and the General Confederation of Italian Industry to set up the ASEAN Education and Business Programme (VELP 2023).

Deputy Prime Minister Le Minh Khai has just signed a decision approving the Strategy on Development of Vietnam's Rice Export Markets until 2030, which aims to develop and diversify rice export markets with a reasonable, stable, and effective scale, market and product structure.

Direct flights connecting Cam Ranh and Da Nang of Vietnam with Macau (China) were officially launched by Vietravel Airlines on May 25.

On May 25, the Lao Cai International Border Gate Customs Branch said that more than 2,000 tons of early-ripening fresh lychees of this year's harvest were cleared for export to China, through the Kim Thanh Road Border Gate.

According to the Korea Customs Agency, currently, Thailand, Indonesia, China, Vietnam and Japan are the 5 largest rubber suppliers to the Republic of Korea.

Vietnam has just had 47 new growing area codes and 18 export durian packing facilities approved by the General Administration of Customs of China (GACC).

From May 23 to 27, the Business Association of High Quality Vietnamese Products in collaboration with the Vietnam Trade Office in Thailand organized a 33 Vietnamese business delegation to participate in market promotion at Thaifex 2023.

The first air freight route between Vietnam – UK has been launched by TT Meridian, an international logistics and trading company of Vietnam in the United Kingdom (UK) to transport goods between Vietnam and the UK via Turkmenistan.

Investment attraction from the US to Vietnam is promising, as some large corporations are planning to expand and increase investment capital in Vietnam.

In the middle of May 2023, the ship Eternity C received 31,500 tons of cement from Nghi Son Cement Factory port for export to Stockton Port, the US.

According to statistics of the General Department of Customs, in April 2023, Vietnam exported 189,820 tons of cassava and cassava products, worth USD76.03 million.

With strengths in technology, finance and market network, Bac Ninh wants Korean investors to continue making "green" investment in the locality in areas such as energy batteries and semiconductors.

Dozens of Vietnamese food enterprises are joining Shanghai International Food Exhibition (SIAL Shanghai 2023) in China’s Shanghai city on May 18-20.

For the period of 2022-2027, Thailand and Vietnam have signed many memorandums of understanding on economic cooperation, and the two sides are also committed to increasing cross-border trade activities by land, sea and air ways; and are coordinating with the Thai Business Association (ThaiCham) to promote the increase of bilateral trade turnover to USD25 billion by 2025.

On May 17, the People's Committee of Bac Ninh province coordinated with the Korean Embassy in Vietnam to organize the "Meet Bac Ninh-Korea".

For a long time, Bac Ha district has been famous as the capital of “shan tuyet” tea in Lao Cai; in which Ban Lien commune’s tea is the pride of Bac Ha and the first 5-star product of the province to find a foothold in the US and Europe.

A conference has been recently held by the Dutch Business Association Vietnam (DBAV), Ha Nam provincial People’s Committee, and the Vietnamese Embassy in the Netherlands to call on Dutch enterprises to invest in hi-tech agriculture, supporting industry, logistics and tourism of the province.

After many efforts, Nong Khang Airport was completed and handed over to Hua Phan province (Laos). This is one of the key cooperation projects between Vietnam and Laos.

According to the Bac Giang Center for Industry Promotion and Trade Promotion under the Bac Giang Department of Industry and Trade, 201 Chinese traders have registered to enter Vietnam and come to Bac Giang to sign contracts for purchasing lychees of this locality.

The Republic of Korea (RoK) imports over 100,000 tonnes of shrimp worth between US$800 million and USS$1 billion each year and Vietnamese shrimp products always account for the highest market share at over 50%.