Vietnam’s import-export value surpasses 400 billion USD mark in 2017

Last year, Vietnamexported 1.58 billion USD worth of commodities to Brazil whilesimultaneously importing goods valued at 1.59 billion USD from itsbiggest South American partner, according to a statement from theBrazilian Ministry of Development, Industry and Foreign Trade on January14. Vietnam mainly sold electronic products, footwear, frozenfish fillets, and man-made fibre to Brazil and purchased agriculturalproducts, raw materials and spices. Brazil’s total revenue from foreign transactions declined in 2014, down 5.7 percent from 2013 to 454.2 billion USD.-VNA... [read more]

Vietnam’s export turnover is likely to hit 195 billion USD this year, up 10-11 percent compared with 2016 and 6-7 percent higher than the target set by the Prime Minister, according to the Ministry of Industry and Trade (MoIT)’s Export-Import Department. Workers process squid and octopus for export to Japan at the Quang Ninh Sea Product Import-Export Company in Ha Long city The department said the country’s export revenue in the first six months of this year stood at 97.78 billion USD, representing a year-on-year rise of 18.9 percent. The accumulated export-import turnover in the first half was close to…... [read more]

Deputy Minister of Industry and Trade Do Thang Hai at the regular meeting on July 14. He said that Vietnam is likely to reach a total export turnover of 200 billion USD this year. (Photo: VNA)Hanoi (VNA) – Vietnam is likely to reach a total export turnover of200 billion USD for the whole year, surging over 13 percent from last year andexceeding the set target, Deputy Minister of Industry and Trade Do Thang Haiaffirmed at the regular meeting held in Hanoi on July 14.Hai said that exports of garments, footwear and wooden products will enjoysubstantial increase in the second half…... [read more]

These figures were released at an on-line conference organised between Hanoi and New Delhi on September 26. Accordingto the Ministry of Industry and Trade, India has become one ofVietnam's leading trade partners with bilateral trade increasing by 12.2percent a year from 2008-12. The trade value hit 3.5 billion USD in the past eight months, up 40.2 percent year-on-year. Vietnameseproducts for the India market include mobile phones, computers,electronic products and components, said head of the ministry's SouthAsian Market Department Tran Quang Huy. Huy also said thesigning of a trade and service agreement and an investment agreementbetween ASEAN and India would further…... [read more]

Dang Phuong Dung, general secretary of the association, said that theUS , Europe and Japan markets were the strongest consumers.However, revenues were down due to soaring material prices and labourcosts. The challenges facing the country's apparelindustry were Turkey 's "self-defence" tariffs on textile and garmentproducts imported from Vietnam , and Malaysia 's "self-defence"tariffs on fabric products, Dung said. In the first fourmonths, Vietnam 's apparel exports reached 3.8 billion USD, risingover 30 percent against the same period last year, with an increase of17-18 percent in volume and 12-13 percent in price. "With17-18 percent output growth, Vietnam 's garment and textile…... [read more]

Illustrative image (Source: VNA)Binh Duong (VNA) – The southern province ofBinh Duong has set a target of attracting at least 1.4 billion USD in foreigndirect investment (FDI) in 2017, prioritising projects with high technology andlarge-scale ones on urban and service development.According to Nguyen Thanh Truc, Director of the provincialDepartment of Planning and Investment, the province has seen good signals inluring FDI this year, with 696.3 million USD flowing in in January.Major projects llicensed in the first month of 2017 includethe Vietnam-Singapore Industrial Park III with an investment of 284.75 millionUSD, and an automobile tire cord and airbag factory worth 220…... [read more]

Ata meeting discussing preparations for the eighth China-ASEAN fair inGui Lin, Guangxi, Cheng, who is also China International TradeRepresentative, said Chinese investment into ASEAN countries has seenfast growth, step by step restoring the imbalance in the first years ofthe 21 st century. According to statistics, China ’sinvestment in ASEAN countries totalled 3.5 billion USD in 2010, a13-fold increase over 2003. Meanwhile ASEAN’s investment to Chinareached 6.3 billion USD, up 35.2 percent over the same period last year.China has shifted its investment to manufacturing, energyand trade and service sectors instead of mining and construction./.... [read more]

Giant groups from the US, Switzerland and Canada have applied to invest more than 6 billion USD in luxury eco-tourism complexes on Phu Quoc island, the southern Kien Giang province, according to the provincial People's Committee.  The province has so far agreed in principle to allow the Trustee Suisse from Switzerland to carry out a feasibility study of the island's Rach Tram area for a 2 billion Euro project.   (Source: VNA)  ... [read more]

Illustrative image (Source: VNA)Hanoi (VNA)– The Government plans to borrow 342.06 trillion VND (15.05 billion USD) thisyear, according to a borrowing and debt payment scheme recently approved byPrime Minister Nguyen Xuan Phuc. The total includes243.3 trillion VND (10.7 billion USD) in domestic loans and 98.76 trillion VND(roughly 4.35 billion USD) in official development assistance (ODA) and foreignpreferential loans. Of the sum, 316.3 trillion VND (13.9 billion USD) will beused to balance the State budget. Under the scheme,the Government will spend 260.15 trillion VND (11.45 billion USD) on debt repayment.The PM hasassigned the Ministry of Finance to review the necessity and…... [read more]

The information was released byChairman of the Ho Chi Minh City Rubber and Plastic ManufacturersAssociation Nguyen Quoc Anh at a recent press conference to introduce arubber and tyre exhibition held in the city. Domestic rubber exporters can now join the billion USD club, he said,noting that they must pay attention to improve the quality of theirproducts. Vietnam has become the fifthbiggest natural rubber producer in the world with 910,500 ha of landunder rubber trees, producing 836,600 tonnes of rubber in 2012, shesaid. The country also rankedfourth in terms of the amount of natural rubber for export, whichaccounted for 10.6 percent…... [read more]