Foreign investment

There is a high chance that the bilateral trade turnover could surpass the US$100-billion mark for the first time right this year. The shortage of goods due to the disruption of the global supply chains and growing demands from major economies on recovery, especially the US, is offering opportunities for Vietnamese businesses to further penetrate the world’s largest market. Vice Minister of Industry and Trade Do Thang Hai. Photos: Hai Yen Counselor of the Vietnam Trade Office in the US Bui Huy Son shared the view at the Vietnam-US Trade Forum 2021 held today [December 7]. “As Vietnam makes up only 3.6% of US total imports, there remains huge potential in economic cooperation for both countries,” Son noted. Sharing the view, Vice Minister of Industry and Trade Do Thang Hai said the US remains one of Vietnam’s key partners in all spheres, noting cooperation in trade and economy between the two is the pillar in the bilateral comprehensive partnership. … [Read more...] about US economic recovery offers opportunities for Vietnam businesses

Vietnam said all development decisions must be nature-based and centered around people to ensure sustainable development in which no one would be left behind. Vietnam, a developing country, has stressed the importance of an all-people approach in coping with a global issue – climate change – and its roadmap to achieve a net-zero target by 2050 it has declared. Overview of the workshop in Hanoi on Dec 7 chaired by Minister of Natural Resources and Environment Tran Hong Ha. Photo: Huong Giang/ UNDP The idea has been included in Prime Minister Pham Minh Chinh’s speech at the 2021 United Nations Climate Change Conference (COP26) held in Glasgow, the UK, in early November, as part of efforts to promote the engagement of all people in Vietnam in realizing its commitment at the global event, according to Pham Van Tan, Deputy Head of Vietnam’s Climate Negotiation Delegation. It’s interesting that Vietnam has stipulated the role of its people in the common drive, … [Read more...] about People-centered approach: Vietnam’s weapon to realize COP26 commitment

In a plan submitted Tuesday, the ministry proposed that the resumption will be carried out with two trial phases. The first phase starting Dec. 15 will see flights resumed between Vietnam and San Francisco or Los Angeles (the U.S.), Singapore, Bangkok (Thailand), Phnom Penh (Cambodia), Vientiane (Laos), Beijing (China), Tokyo (Japan), Seoul (South Korea), and Taipei (Taiwan). Those are markets with the most important political and economic cooperation relations with Vietnam, with a high number of investors, experts, and laborers wishing to work and explore business investment opportunities in Vietnam, said the ministry. In addition, the number of Vietnamese citizens living, studying and working in those destinations are having a high demand for repatriation, it said. During the first phase, which is proposed to last two weeks, four flights will be operated on each route per week from either direction. Only Tan Son Nhat Airport in HCMC and Noi Bai in Hanoi will be serving … [Read more...] about Vietnam plans int’l flight resumption from Dec 15

Vietnam Economic Forum scheduled for December 5 The event will take place at the International Convention Centre in Hanoi on December 5 to review Vietnam’s economic development in 2020-2021, and policies adopted to cope with the COVID-19 pandemic. Specifically, it will give insight into the trend of economic restructuring and changes in production and business models due to pandemic impacts, along with policies that have been rolled out in the world to tackle COVID-19, thus withdrawing lessons for Vietnam in this regard. The organisers launched the official website of the forum, at diendankinhte.quochoi.vn, in Vietnamese and English languages. Reference exchange rate stays stable on Dec. 3 The State Bank of Vietnam set the daily reference exchange rate at 23,117 VND/USD on December 3, unchanged from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,812 VND/USD and the floor … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 3

Vietnam’s agro-forestry-aquatic product import-export hits over $82bil Vietnam’s agro-forestry-aquatic product exports and imports were estimated at nearly 82.67 billion USD in the first 11 months of this year, up 24.7 percent annually. Of the figure, around 43.48 billion USD was worth of exports, up 14.2 percent while nearly 39.18 billion USD was from imports, up 39 percent, resulting in a trade surplus of roughly 4.3 billion USD, down 56.5 percent year-on-year. The US was the biggest export market of Vietnam with over 11.9 billion USD, or 27.5 percent of the market share. It was followed by China with around 8.4 billion USD, accounting for 19.2 percent, and Japan with nearly 3 billion USD, or 6.9 percent. Share plunge as Omicron worries local investors Vietnamese shares plunged on Friday as the spread of the Omicron coronavirus variant dampened investor sentiment, triggering worries about hits to a nascent economic recovery. The market benchmark VN-Index on the Ho Chi … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 4

Vietnam plans to resume regular international flights from December 15 (Photo: VNA) Hanoi (VNA) – The Ministry of Transport (MoT) has proposed the pilot resumption of regular international flights carrying international passengers to Vietnam from December 15. In a recent report submitted to the Prime Minister, the MoT proposed the resumption be carried out in two phases. The first phase will last for two weeks, starting on December 15, during which regular flights between Vietnam and the destinations with high safety will be conducted, namely Beijing (China), Tokyo (Japan), Seoul (the Republic of Korea), Taipei (Taiwan, China), Bangkok (Thailand), Singapore, Vientiane (Laos), Phnom Penh (Cambodia), and San Francisco or Los Angeles (the US). The flights in this phase will connect with the international airports of Noi Bai in Hanoi and Tan Son Nhat in Ho Chi Minh City. There will be four flights per week on every way for each side. About 14,000 passengers are … [Read more...] about Regular int’l flights suggested to resume from December 15