Office of energy efficiency and renewable energy

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 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

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