The second Trade Policy Review (TPR) session of the World Trade Organisation (WTO) for Vietnam was held in the form of videoconference on April 27.
Ho Chi Minh City is focusing on developing its infrastructure system serving e-commerce amid the rising trend in online shopping, according to the city’s Department of Industry and Trade.
Vietnam is now increasingly emerging as a regional middle power, especially in the global supply chain and development of 5G technology, according to an article published by the UK’s website strifeblog.org on April 13.
Several of Vietnam’s key export sectors, such as textile-garment, leather-footwear, and electronics have become magnets for merger and acquisition (M&As) activities, posing a risk of leading enterprises in those sectors being purchased by foreign investors.
Italian news agency AgenziaStampaItalia ran an article on April 5 saying that Vietnam’s newly-elected leaders will drive the country forward in its rebooting efforts.
The Vietnamese economy is growing again on the back of a strong rise in exports, Wall Street Journal reported.
Vietnam has been making good use of advantages of the international economic integration process, helping to increase the country’s exports by 22 percent year-on-year and imports by 26 percent in the first quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade.
The State budget revenue in the first quarter totalled 403.7 trillion VND (about 17.5 billion USD), equivalent to 30.1 percent of this year’s target and up 0.3 percent from a year earlier, the Ministry of Finance (MoF) said on March 29.
Prime Minister Nguyen Xuan Phuc has asked relevant ministries, agencies and the southern province of Ba Ria – Vung Tau to develop the seaport and logistics system at Cai Mep – Thi Vai area to meet regional standards by 2030 towards becoming a world-class seaport hub in the world by 2045.
The rapid suppression of the new COVID-19 outbreak in late January 2021 has helped maintain Vietnam’s positive outlook for economic recovery this year, the World Bank (WB) has said.
Experts expect that consumer loans will resume in the second half of 2021, thereby boosting the overall credit growth.
Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung and Permanent Secretary for Foreign Affairs of Thailand Thani Thongphakdi exchanged views on cooperation between the two countries and ministries, along with regional and international issues of shared concern, during their online talks on February 24.
The State Bank of Vietnam said it would be consistent with the goal of controlling inflation, maintaining macroeconomic stability, and improving the quality of monetary policy planning and administration.
Import-export activities were a highlight of Vietnam’s economy during the 2015-2020 period. In 2020, trade surplus reached 19.1 billion USD, marking the highest in five consecutive years recording trade surplus since 2016.
Thirty-five years after the launch of the renewal, Vietnam has, under the leadership of the Party, reaped comprehensive, great and important achievements.
Experts have been optimistic about Vietnam’s economic growth in 2021 based on the latest situation, as well as the sound decisions and policies adopted by the Party and Government.
Vietnam’s import-export turnover is likely to surpass 500 billion USD in 2019 despite declining demand in the world market.
Export revenue in 2020 is estimated to reach 267 billion USD while imports are to reach 260 billion USD, resulting in a trade surplus of some 7 billion USD. Experts said 2020 has been a tough year for all economic sectors, but foreign trade has been profitable.
The Regional Comprehensive Economic Partnership (known as the RCEP), which was signed on November 15, is the largest free trade agreement in the world. While offering substantial opportunities to Vietnamese exporters, it will also make the competitive landscape even fiercer, both at home and abroad.
Vietnam posted a record trade surplus of 20.1 billion USD in the first 11 months of this year despite the adverse impacts of the COVID-19 pandemic on the global economy, according to the General Statistics Office.