Trade – Investment

Vietnam’s fruit and vegetable exports are estimated to reach more than 700 million USD in August 2024, up 26.8% from the previous month and up 50.8% from the same period last year, according to the Vietnam Fruit and Vegetable Association.

Chairman of the HCM (Ho Chi Minh) City People’s Committee Phan Van Mai has just issued a directive on accelerating the payment and settlement of public investment project capital.

Accounting for over 7% of the market share, the nation currently makes up the world's third largest seafood exporter, behind only China and Norway, according to industry insiders.

Ho Chi Minh City highly evaluates its multifaceted cooperation with Japanese partners and looks forward to strengthening this relationship further with Japanese localities, said Vice Secretary of the municipal Party Committee and Chairwoman of the municipal People’s Council Nguyen Thi Le.

The organizers of the second Krong Pac Durian Festival on August 22 held a press conference to announce activities scheduled for the festival.

The Vietnam Food Association (VFA) on August 22, informed that Vietnam’s rice export price reached the world’s highest rate, surpassing those of Thailand and Pakistan.

Reports presented at the regular Government meeting for July 2024, held in the first week of August, highlighted positive economic and social outcomes, particularly the robust growth across all three sectors: agriculture, industry and services. During the meeting, Prime Minister Pham Minh Chinh set a GDP growth target for the third quarter of this year at 6.5%-7.0%.

Asia is Vietnam’s largest cinnamon import market. Indonesia and China are the two main cinnamon suppliers to Vietnam, with 148 tons and 54 tons.

Imports of pearls, gemstones and jewelry products from Singapore increased by 2.27 times in the first seven months of 2024.

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.

As members of two free trade agreements (FTA), there remains ample room ahead for both Vietnam and Chile to increase the trade turnover, including footwear products, according to insiders.

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.