Trade – Investment

Vietnam’s export turnover of goods to the Japanese market reached 16.01 billion USD in the first eight months of 2024, a year-on-year rise of 4.8%.

Thailand is Vietnam’s largest export market in ASEAN with a value of 5.23 billion USD, up 7.2% year on year.

Despite market recovery, the wood industry needs to overcome formidable challenges to realise the export revenue target of 15.2 billion USD for the whole year, according to insiders.

Building infrastructure, luring investment, and operating border gates on digital platforms are the focuses of northern provinces to develop local border gates into key economic zones and ensure border security and defense.

Steady double-digit growth has enabled Vietnam’s fruit and vegetable exports to continuously set new records. With the current momentum and growth, Vietnam’s fruit and vegetable sector is poised to reach a record export value of USD7 billion this year.

From January to August this year, foreign investors poured capital into 54 provinces and cities across the country; and Bac Ninh led with a total registered investment of nearly USD3.47 billion, accounting for 16.9% of the country's total investment and nearly triple that of the same period last year, Mr. Vuong Quoc Tuan, Chairman of the Bac Ninh Provincial People's Committee, have said.

The Ministry of Agriculture and Rural Development’s Plant Protection Department coordinated with the Australian Embassy in Vietnam on 9 September to announce the export of Vietnamese passion fruit to Australia and Australian plum to Vietnam.

Ho Chi Minh City’s total retail sales of goods and consumer service revenue in the first eight months of the year are estimated at 765,233 billion VND, a year-on-year rise of 10.3%.

The first Vietnam Fruit Festival will be held in Beijing (China), from September 29-30, with the participation of numerous agricultural enterprises in Vietnam and specialized agricultural associations, importers and suppliers in China.

During the three days of the 18th International Travel Expo Ho Chi Minh (ITE HCMC 2024), the tourism industry attracted about 26,000 visitors, said the City Department of Tourism on September 8.

The Vietnam-Sweden Business Forum 2024 was held in celebration of 55 years of bilateral diplomatic relations by the Vietnamese Embassy and the Vietnam Trade Office in Sweden, and FPT Corporation in Stockholm on September 6.

The Politburo urged the Socioeconomic Sub-committee of the 14th National Party Congress to urgently finalise a draft report evaluating the five-year implementation of the 2021-2030 socioeconomic development strategy during a meeting in Hanoi on September 6.

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on September 6 for Tim Hughes, Senior Vice President for Global Business and Government Affairs of the US-based provider of spacecraft, satellite launch services, and satellite communications SpaceX, where he called for stronger cooperation in science-technology, innovation, artificial intelligence, and Internet of Things.

The value of Vietnam’s tuna exports to the EU as of August 15, 2024 increased by 28% compared to the same period last year, worth more than 133 million USD, according to the General Department of Vietnam Customs.

Vietnam earned 177 million USD from commodity exports to Myanmar in the first seven months of 2024, up 37% year on year, according to the General Department of Customs.

As the EU Deforestation Regulation (EUDR) is about to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act quickly to comply with this rule to sustain exports to this major market.

In the first seven months of 2024, Vietnam exported 5.18 million tons of rice, earning USD3.27 billion, marking a 5.8% increase in volume and a 25.1% increase in value compared to the same period in 2023. Vietnam's rice exports have made remarkable progress recently, with efforts to assert its position as the world's leading rice exporter.

Vietnam could ship more than 1 billion USD worth of pepper abroad for the whole 2024 on the back of high global demand and limited supply, according to the Vietnam Pepper and Spice Association (VPSA).

The Management Board of Industrial Parks in the northern province of Ha Nam on August 30 held a meeting with Japanese enterprises that are investing in industrial parks in the province.

Vietnam has recorded 11.8 billion USD in agro-forestry-fisheries trade surplus over the first eight months of 2024, surging 68.4% year on year, reported the Ministry of Agriculture and Rural Development (MARD).

(CPV) - Policy capital has supported nearly 6.8 million households to escape poverty, created jobs for more than 7.2 million workers, of which nearly 145,000 workers went to work abroad for a limited period.

In the first half of the year, Vietnam was the largest banana supplier to China. Vietnam’s banana exports to China reached 420,000 tons, up 18.5% over the same period.

The northern province of Bac Ninh has risen to 4th place nationwide in terms of ICT Index with a score of 0.664/1 point, up 6 places compared to 2022.

Cotton Day Vietnam 2024 will be held on September 27 in Ho Chi Minh (HCM) City to introduce information about the US cotton raw material market.

Export turnover of goods to the Japanese market since the beginning of the year has only increased at a low level, about 2.8% compared to the same period last year, said Mr. Tran Phu Lu, Director of the HCM City Investment and Trade Promotion Center (ITPC) at a recent meeting to export growth to Japan.

The National Concentrated Promotion Program 2024 (Vietnam Grand Sale 2024) is expected to take place from December 2 to 31, according to the Ministry of Industry and Trade.

Trade turnover between Vietnam and India reached 15 billion USD in 2022 while the figure only posted about 200 million USD in 2000. The result helped make India one of the eight largest trade partners of Vietnam.

Vietnam will build an international timber products trading center, according to Decision 895 recently issued by the Prime Minister.

The fifth Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO) with the theme “Connecting for Development” will officially return on October 17-19, 2024.

The second Vietnam - ASEAN International Furniture & Home Accessories Fair 2024 (VIFA ASEAN 2024) opened in Ho Chi Minh (HCM) City on August 27.