Economic growth

During the first 11 months of the year, Vietnam's exports stood at an estimated US$241.2 billion, up 7.8 per cent on year. Of the figure, export turnover within the domestic sector enjoyed an 18.1 per cent surge to US$74.72 billion, while exports in the FDI sector, including crude oil, were at US$166.7 billion, an increase of 3.8 per cent. According to the Import-Export Department under the Ministry of International Trade (MoIT), a number of favourable factors such as the comprehensive international integration have served to support the Vietnam’s exports in the future as the country has become a signatory of 13 FTAs with a further three FTAs in the negotiation process. Furthermore, domestic goods for exports will become more competitive with other providers due to the removal of tariff barriers. Despite this, several factors look poised to hinder export growth, including a global economic slowdown. The Organisation for Economic Cooperation and Development cut its prediction … [Read more...] about Exports to endure sluggish growth in remaining months

Chairwoman of the National Assembly Nguyen Thi Kim Ngan and European Commissioner for Trade Cecilia Malmstrom exchanged ideas related to the signing and ratification of the EU-Viet Nam Free Trade Agreement (EVFTA)  and the EU-Viet Nam Investment Protection Agreement (EVIPA) during their meeting in Hanoi yesterday. EVFTA - a lever for Vietnam’s economic growth EVFTA to help improve Vietnam’s competitiveness: researcher Chairwoman of the National Assembly Nguyen Thi Kim Ngan (r) welcomes European Commissioner for Trade Cecilia Malmstrom in Hanoi yesterday. — VNA/VNS Photo Trong Duc The top legislator highly valued the role of the EU and the trade official in promoting the signing of the two agreements. Malmstrom said the signing shows remarkable progress in the relations between Vietnam and the EU which helps reinforce the bilateral partnership and comprehensive cooperation. With the two pacts, the two sides hope bilateral relations will reach further … [Read more...] about Top legislator, EU trade commissioner talk about EVFTA

Tra fish exports to Russia slump Export revenue of tra fish to the Russian market in the first 10 months of this year fell 31 percent compared to last year to 12.5 million USD, reported the Vietnam Association of Seafood Exporters and Producers (VASEP). According to the association, the sharp drop followed last year’s declining trend, and was likely to continue for the rest of 2019. VASEP said that in the last two years, Russia’s tra fish consumption has been modest, with unstable import prices. Meanwhile, the European country’s imports of frozen tra fish fillets have increased slightly by 3 percent, but that of frozen whole fish have fallen 29 percent./. Conference on boosting exports to China They were speaking at a recent conference on agricultural, forestry and seafood exports to China in Mong Cai City in the northern province of Quang Ninh. The conference was organised by the Ministry of Agriculture and Rural Development in collaboration with the People's … [Read more...] about BUSINESS NEWS HEADLINES DECEMBER 6