Trade – Investment

Nuclear power is one of the priority areas where Canada and Vietnam can cooperate, and both sides have a good opportunity to share this technology and build nuclear reactors to provide their economies with clean, zero-emission energy, according to Jean Charest, former Deputy Prime Minister of Canada and former Premier of Québec.

The Tan Cang Hai Phong International Container Terminal (TC-HICT) in the northern city of Hai Phong welcomed its 1.5 millionth TEU (Twenty-foot Equivalent Unit) this year on December 27, from container ship CMA CGM MISSISSIPI.

Fiscal policy remains a cornerstone for sustaining macroeconomic stability, promoting growth, and ensuring sustainable development.

Deputy Prime Minister Ho Duc Phoc spoke to the Vietnam News Agency (VNA) about the outstanding results in implementing financial and budgetary tasks in 2024 as well as solutions for 2025. The following is the full text of the interview:

The export of agro-forestry-aquatic products has created a breakthrough this year, generating 62.5 billion USD, up 18.7% year on year, with a record trade surplus of 17.9 billion USD, marking a remarkable 46.8% growth rate compared to the previous year, according to the Ministry of Agriculture and Rural Development (MARD).

Vietnamese goods, especially farm produce, are expanding their presence in retail chains and supermarkets across Malaysia, including well-known ones, reflecting growing consumer preference for Vietnamese products, according to Trade Counsellor of Vietnam in Malaysia Le Phu Cuong.

Ha Long city in the northeastern province of Quang Ninh is well positioned to develop its green economy, digital economy and heritage economy in the new era, experts said at a conference held on December 26.

Despite numerous challenges in 2024, Ho Chi Minh City's economy still record a commendable growth rate of 7.17%, heard a conference held on December 26 to review local socio-economic development achievements for 2024 and set the tasks for 2025.

The US-based financial, economic, and stock market news site investing.com said Vietnam's economy demonstrated continued resilience in November, with a substantial trade surplus and growth in exports and imports.

Vietnam has regained its position as the “growth star” of the Association of Southeast Asian Nations (ASEAN), said the Hong Kong-Shanghai Banking Corporation (HSBC) when evaluating Vietnam’s economic development in 2024.

Vietnam’s exports to Singapore continued the growth trajectory in November, rising by 31.32%, sustaining the year-on-year expansion of 32.11% for the first 11 months, positioning Vietnam as the partner with the fastest export growth there, reported the Vietnam Trade Office in the city state.

The Central Committee of the Ho Chi Minh Communist Youth Union, the Vietnam Youth Federation and the Vietnam Young Entrepreneurs Association announced winners of the Vietnam Gold Star Award 2024 at a ceremony held in Hanoi on December 25.

The Binh Minh Organic Agricultural Co-operative, located in Tuyen Quang province's Yen Son district, is well-known in the area for getting off on the right foot: organic farming has been their focus right from the beginning.

Vietnam's aquatic exports reached 10 billion USD in 2024, driven by shrimp and pangasius, despite challenges related to markets, logistics, and raw materials, the Vietnam Association of Seafood Exporters and Producers (VASEP) said on December 23.

Vietnam recently showcased its certified halal products at the Melaka Halal Festival 2024 in Malaysia, a move to expand its presence in the global halal market.

Vietnamese goods have steadily established a strong presence in the UK, with exports to this demanding market continously growing since 2021, said Hoang Le Hang, First Secretary of the Vietnam Trade Office in the UK.

Identifying Vietnam as its second most important market after Japan, AEON Group of Japan continues to intensify its business investments.

An increasing number of Vietnamese enterprises are showing interest in Saudi Arabia, particularly in the sectors of Vietnam's advantages and the Middle East country's needs, a diplomat has said.

Japan has invested in 5,369 projects worth 76.76 billion USD in Vietnam as of the end of the second quarter this year, making it the third largest foreign investor in the country, Deputy Minister of Construction Nguyen Tuong Van told the 9th Vietnam-Japan Conference on Construction in Hanoi on December 19.

Vietnam has distinguished itself as one of the fastest-growing economies in the East Asia-Pacific region in 2024. The country's remarkable performance is attributed to a robust recovery in exports coupled with strong domestic demand, Andrea Coppola, the World Bank's Lead Country Economist and Programme Leader for Equitable Growth, Finance, and Institutions in Vietnam, told the Vietnam News Agency.

All Vietnam's rubber’s top 15 export markets saw growth in export values in 2024, with Malaysia recording the highest increase, expanding fivefold, followed by Sri Lanka at 3.7 times, according to the Vietnam Rubber Association (VRA).

The activities conducted by the Vietnam Trade Office in Thailand in 2024 have enriched the trade and investment relations between the two countries, contributing to helping Thailand maintain its position as Vietnam's largest trading partner in the Association of Southeast Asian Nations (ASEAN), according to Le Huu Phuc, Vietnam's Trade Counsellor in Thailand.

Ho Chi Minh (HCM) City’s e-commerce is estimated to grow by 52% in 2024, helping the southern city gradually become the locomotive in the field of e-commerce nationwide.

The Mekong Connect Forum 2024 kicked off in the Mekong Delta province of An Giang on December 17, focusing on seeking measures to enhance economic, trade, and technological cooperation in the region, Ho Chi Minh City, and the rest of the country towards sustainable development in a new competition landscape.

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).

Thanks to its distinctive business advantages, especially in boosting the growth of the service sector, Ho Chi Minh City has the potential to become a major service hub of the region, experts said at a conference in the city on December 17.

The Ho Chi Minh (HCM) City Department of Industry and Trade said that in addition to reserving a large amount of goods for Tet (Lunar New Year) 2025, this unit will coordinate with units to regularly inspect to avoid shortages and speculation.

The HCM City Department of Industry and Trade on December 16 launched a program to select 50 outstanding enterprises with key brands and products on the occasion of the 50th anniversary of the Liberation of the South and National Reunification (April 30, 1975-2025).

With just days remaining in 2024, the Vietnamese economic landscape looks promising, with the GDP growth expected to exceed the set target of 7% thanks to concerted efforts by ministries and sectors, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

Vietnam and India have witnessed thriving trade and economic cooperation over the recent past, with many highlights observed in 2024, according to Vietnamese Trade Counsellor in the South Asian country Bui Trung Thuong.