Trade – Investment

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.

(CPV) - Vietnam, as well as ASEAN, always attaches importance to its relationship with Japan. ASEAN-Japan cooperation has been expanded in many areas, and potential cooperation areas such as green economy, digital economy, circular economy and green energy are expected to be enhanced in the near future.

Hanoi’s retail sales of goods reached 301.6 trillion VND in the first seven months of 2024, accounting for 63.5% of the total and increasing by 10.1% compared to the same period, according to the City Statistics Office.

The US will continue to be Vietnam’s largest export market from now until the end of the year with the expectation of reaching the target of over 100 billion USD.

Pakistan is Vietnam’s largest tea export market with 16,072 tons, down 13% in volume compared to the same period last year.

The consumer price index (CPI) in July 2024 in Hanoi increased by 0.51% from the previous month and rose by 5.51% compared to the same period last year, according to the City Statistics Office.

The Vietnam Logistics International Exhibition 2024 (VILOG 2024) is expected to welcome 25,000 visitors during the 3-day exhibition, from August 1 to 3, according to the lastest information from the Ministry of Industry and Trade’s Import-Export Department.

About 30 leading groups from Hong Kong (China) in many fields of finance, technology and energy will come to Vietnam to seek investment cooperation opportunities.

Vietnam's e-commerce revenue could reach 30 billion USD by the end of 2024, said a representative of the Ministry of Industry and Trade in a recent meeting held by the ministry to improve export capacity on e-commerce platforms.

In July 2024, Trung Nguyen Legend, Vietnam’s coffee chain, continuously opened nearly 10 new stores in the US and China, promoting Vietnamese coffee culture to the world.

(CPV) - The Dong Thap Provincial Party Committee has held a conference to review 10 years of implementing Directive 40-CT/TW of the PCC’s Secretariat on strengthening the Party’s leadership over social policy credit in the Mekong Delta province.

Vietnam remained the largest rice exporter to Singapore in the first half of 2024, accounting for 32.69% of the market.

Vietnam received 18 billion USD of registered foreign investment capital in the first seven months of 2024. Notably, Kyrgyzstan registered to invest in Vietnam for the first time. So far, 147 countries and territories have invested in the country during the period.

Russia is the second largest fertilizer supplier to Vietnam in the first half of 2024 with 362,326 tons, worth more than 164 million USD, up 430% in volume and 355% in value over the same period last year.

Statistics for the first six months of the year show that, Vietnam’s seafood exports maintained its position as Singapore’s 5th largest partner, a position held for two consecutive quarters. This demonstrates the important role of Vietnamese seafood in this market.

The Can Tho City Department of Agriculture and Rural Development on July 24 coordinated with Vina T&T Group on signing a contract to link and export 1.2 tons of longan to the US and Australian markets.

The central coastal province of Khanh Hoa has organized the second tourism gift product design contest, lasting until the end of September 2024, with total prize value of 112 million VND.

In 2024, Vietnam’s fruit and vegetable export is forecast to earn 7-7.5 billion USD, a record high in recent years, according to the Vietnam Fruit and Vegetable Association.

The Hungarian Trade Office recently coordinated with the Vietnamese Embassy in Hungary to display and introduce Vietnamese export products in the capital Zagreb.

As of mid-July, total export turnover of all types of goods through the northern border province of Lang Son reached over 32 billion USD, according to Vietnam News Agency.

(CPV) - Over the past years, the central coastal city of Da Nang continuously strived to develop an innovative startup ecosystem, with the formation and continuous development of supporting organizations, incubators and venture capital funds, angel investors and especially the innovative startup business community.