Hanoi (VNA) - Vietnam exported goods with an estimated value of 99.36 billion USD in the first five months of 2020, a year-on-year decline of 1.7 percent. Export turnover of domestic businesses maintained double-digit growth, however, of 10.4 percent, reaching 33.3 billion USD. The outcome is considered a highlight of goods exports since early in the year, especially given that the export turnover of the FDI sector fell 6.9 percent year-on-year due to the impact of COVID-19, according to trade experts. The US remained Vietnam’s largest market in the first five months, with turnover of 24.6 billion USD, up 8.2 percent, followed by China, the EU, ASEAN, Japan, and the Republic of Korea. From January to May, Vietnam posted a trade surplus of nearly 1.9 billion USD - a much better result than the trade deficit of 256 million USD in the same period last year. The figure is encouraging amid the pandemic, which has seen restrictions placed on a number of trade activities at border … [Read more...] about Vietnam striving to boost export growth over remainder of 2020
Analysts concurred with this, saying that amid the unpredictable situation caused by the pandemic banks with large equity have a better chance of coping with any crisis. … [Read more...] about Seafood companies hope to sell more at home as pandemic hits exports
China remained the leading buyer of Vietnamese fruit and vegetable products, making up a lion’s share of purchases with roughly 60.8%. However, exports of the items to the northern neighbour suffered a drop of 29.2% in value compared to the same period from last year. Elsewhere, exports to most other markets enjoyed an increase with export turnover from Thailand reaching US$ 57.8 million during the reviewed period, representing a 244.1% rise, whilst US$54.6 million worth of goods were shipped to the Republic of Korea, a 25.4% increase. … [Read more...] about Fruit and vegetable exports reach over US$1.5 billion in first half
Kien Giang (VNA) – Some 3,360 fishing vessels or 84 percent of the total in the Mekong Delta province of Kien Giang had been equipped with the vessel monitoring systems as of late May, according to the provincial Department of Agriculture and Rural Development. … [Read more...] about Over 84 percent of Kien Giang fishing vessels equipped with monitoring systems
Thirdly, Viet Nam should not compete with other countries to court more foreign capital by only offering investment incentives, as this can distort resource allocation and will not have a meaningful impact in the long run. The country will be more attractive to foreign investors if it can correct its weaknesses and shortcomings, such as improving the capacity of capital absorbency, perfecting logistics infrastructure, upgrading workers’ skills and ability, and reforming institutions. … [Read more...] about Can Viet Nam could take advantage of new foreign investment strategies?