Vietnam trade promotion agency

Vietnam-US trade ties have enjoyed impressive growth (Source: laodong.com.vn) Hanoi (VNA) – The Vietnam-US trade ties have enjoyed impressive growth during 26 years since the normalization of diplomatic ties. Looking back at the past 20 years in international trade, there is no relationship which has such a fast growth rate like that of the Vietnam-US trade relationship, said Nguyen Xuan Thanh , senior lecturer at Fulbright School of Public Policy and Management in Vietnam. Prof. David Dapice , leading expert on development economics in Southeast Asia, Harvard Kennedy School, Harvard University, used the word “spectacular” to describe the development of economic cooperation between Vietnam and the US. Two-way trade rose from over 400 million USD in 1995 to more than 90 billion USD in 2020. Vietnam’s total export turnover to the US from 1 billion USD in 2000 increased to 10 billion USD in 2007, mainly thanks to the bilateral trade agreement taking effect in … [Read more...] about Vietnam-US trade ties enjoy “spectacular” growth

Processing cashew nuts for export . (Photo: VNA) Hanoi (VNA) – Vietnam earned 3.15 billion USD from exporting goods to Cambodia in the first eight months of 2021, up 16.7 percent year-on-year. However, Vietnam reported a trade deficit of 354.4 million USD with Cambodia in the reviewed period. One of the reasons behind the trade deficit was increases in import turnover of six main products from Cambodia compared to the same period last year, with the imports of cashew nut and rubber witnessing the highest rises. Vietnam spent almost 1.83 billion USD on importing cashew nuts from Cambodia in the first eight months, a 7.1-fold hike year-on-year.  Meanwhile, Vietnam’s rubber imports from the neighbouring country were 5.3 times higher than the figure of the same period last year, reaching 821.8 million USD. Vietnam’s registered investment in Cambodia hit over 2.85 billion USD, mainly in agriculture, including cashew and rubber planting. Vietnamese businesses have … [Read more...] about Vietnam’s exports to Cambodia up 16.7 percent in eight months

President Nguyen Xuan Phuc speaks at the high-level general debate of the 76th UN General Assembly (Photo: VNA) Moscow (VNA) - Vietnam's role in the international arena and its responsible contributions to the United Nations (UN) were highlighted in an article published by Russia ’s leading e-newspaper Infox.ru on September 24. The article by Grigory Trofimchuk, an expert on international affairs, highly valued  the role, international position, as well as outstanding achievements of Vietnam in recent years, and spotlighted the effective and active working programme of President Nguyen Xuan Phuc at the UN General Assembly. It mentioned President Nguyen Xuan Phuc's proposal at the high-level general debate of the 76th UN General Assembly on practical solutions such as removing barriers that hinder global vaccine supplies, comprehensively promoting trade cooperation to accelerate post-pandemic economic recovery, enhancing digital transformation, and increasing labour … [Read more...] about Russia newspaper spotlights Vietnam’s responsible contributions to UN

At a factory of Nestle in Hung Yen province (Photo: baodautu.vn) Hanoi (VNA) – Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper. The Swiss company Nestle said it is pouring an additional over 130 million USD, raising its total investment in Vietnam to 730 million USD to carry out a number of its projects in the next two years. Urs Kloeti, Factory Manager of Nestle Bong Sen, was quoted by the newspaper as saying that his company believes in Vietnam’s role as an international and regional manufacturing hub in the future. Alongside Nestle, other foreign firms have committed to maintaining operations in Vietnam despite the fourth wave of COVID-19 outbreaks that have forced various localities to apply stringent preventive measures. Tetra Pak of Sweden has confirmed that it will pump 5 million EUR (5.86 … [Read more...] about Foreign investors keep trust in Vietnam’s recovery

Sustainability is central to Bayer’s group strategy and an integral part of them company’s business strategies. The company’s innovations, products and services enable it to contribute significantly towards meeting the Sustainable Development Goals set by the United Nations. Both innovation and sustainability are crucial to achieving Bayer’s vision: “Health for all, hunger for none”. Since the COVID-19 outbreaks emerged, Bayer has accelerated this vision more and more. Although the goal will not be achieved overnight, it sets the foundation for Bayer’s future and serves as the mark by which it can measure all activity across the company. In particular, with scientific expertise and innovative strength, Bayer is convinced that it can make a significant contribution to address the global challenges of food security and health. Variety of efforts As Vietnam deals with the pandemic, Bayer has been working hard to bring the vision to bear in the country. Vietnam, like … [Read more...] about Bayer promoting sustainable Vietnam healthcare and agriculture

At the working session between the Vietnamese Ministry of Agriculture and Rural Development and the US Department of Agriculture (Photo: VietnamPlus) Hanoi (VNA) – Vietnamese Deputy Minister of Agriculture and Rural Development Le Quoc Doanh has held a number of working sessions with US partners such as the US International Trade Commission (USITC), the US Trade Representative (USTR), the US Department of Agriculture (USDA) and the US Grains Council (USGC). The sessions took place within the working trip to the US by President Nguyen Xuan Phuc and a high-ranking delegation of Vietnam from September 21-25. Boosting trade ties based on reciprocity of farm produce Enhancing scientific-technological collaboration in agriculture Deputy Minister of Agriculture and Rural Development Le Quoc Doanh holds talks with USITC Chairman Jason E. Kearns. (Photo: VietnamPlus) He said Vietnam welcomes and stands ready to closely cooperate with the US in optimising … [Read more...] about New opportunities for Vietnam-US agricultural cooperation