Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh (right) and Malaysian Foreign Minister Saifuddin Abdullah (Photo: VNA) Hanoi (VNA) – Vietnam and Malaysia have agreed to enhance economic ties, aiming to raise bilateral trade to 15 billion USD or higher by 2020. The consensus was reached by Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh and Malaysian Foreign Minister Saifuddin Abdullah during their talks in Hanoi on May 16. The two sides were resolved to work together in order to remove difficulties facing their businesses and create favourable conditions for them to cooperate, especially in such potential areas as urban development, renewable energy, electronic production, electricity, and agro-forestry-fishery. Minh spoke highly of collaboration in national defence and security between the two countries over the years, particularly experience sharing and exchanges between army and security forces. They concurred to push ahead … [Read more...] about Vietnam, Malaysia target 15 billion USD in trade by 2020
15 billion usd in gbp
Vietnam, India work toward two-way trade of 15 billion USD
Vice President Dang Thi Ngoc Thinh (R) shakes hands with Vice President of India Venkaiah Naidu (Photo: VNA) Hanoi (VNA) – Vietnam and India will together make effort to achieve a two-way trade value of 15 billion USD in the coming time as their leaders have agreed to accelerate economics, trade, and investment cooperation. Vice President Dang Thi Ngoc Thinh held talks in Hanoi on May 10 with her guest, Vice President of India Venkaiah Naidu and both reached that agreement. Welcoming the guest’s first visit to Vietnam, Thinh stated Vietnam places importance to the time-honoured friendship with India and hailed the dynamic growth of the bilateral ties across the board, especially after the countries established strategic partnership in 2007 and upgraded the ties to comprehensive strategic partnership in 2016. Vice President Venkaiah Naidu said the two countries worked closely to implement projects to preserve the world cultural heritage My Son in Vietnam’s … [Read more...] about Vietnam, India work toward two-way trade of 15 billion USD
Revenues from e-commerce likely to hit 15 billion USD in 2020
(Infographic: VNA) Hanoi (VNA) – With the current rapid growth, revenues from e-commerce retail in Vietnam are likely to reach 15 billion USD in 2020, experts have said. Vietnam’s e-commerce records annual average growth of 35 percent, 2.5 times higher than the figure in Japan, making it one of the countries with the fastest e-commerce growth in the world. Dang Hoang Hai, Director of the E-Commerce and Information Technology Agency under the Ministry of Industry and Trade, said retail sales from e-commerce earned 8 billion USD in 2018, much higher than the forecast figure of 7 billion USD. Therefore, revenues from e-commerce in 2020 could surpass beyond the projected number of 10 billion USD, Hai said. A report on online shopping in 2018 conducted by Q&Me market research service provider showed that Shopee accounts for the lion’s share, at 35 percent, of the domestic e-commerce market, with over 700 active brands and sellers. Meanwhile, Le Anh Huy, … [Read more...] about Revenues from e-commerce likely to hit 15 billion USD in 2020
Vietnam-India trade hits 10.69 billion USD in 2018
Illustrative image (Photo: thoibaotaichinhvietnam.vn) Hanoi (VNA) – Two-way trade between Vietnam and India experienced a year-on-year rise of 40 percent to reach 10.69 billion USD in 2018, according to statistics released by the General Department of Vietnam Customs. The increase was mainly due to the value of Vietnamese exports hitting 6.54 billion USD, up 74.2 percent against 2017. Among staples, machinery, equipment and parts recorded the strongest turnover with nearly 1.7 billion USD, up close to 427 percent year-on-year. Mobile phones and parts came next at more than 814 million USD, up 49.16 percent, followed by computers, electronics and parts at 800 million USD, up 63.04 percent, and metal and metal-made products at nearly 578 million USD, up 23.49 percent. Meanwhile, Vietnam imported 4.15 billion USD worth of goods from India, a year-on-year rise of 6.95 percent, mostly production materials and machinery and parts. The two countries are working towards 15 … [Read more...] about Vietnam-India trade hits 10.69 billion USD in 2018
FDI disbursement hits over 15 billion USD in ten months
Illustrative image (Source: VNA) Hanoi (VNA) – Capital disbursement of foreign direct investment (FDI) projects stood at 15.1 billion USD as of October 20, up 6.3 percent year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. This year to October 20, the country granted investment certificates to 2,458 new projects with 15 billion USD of registered capital, equal to 92.2 percent of the figure of the same period of 2017, and allowed 954 existing projects to add a total of 6.5 billion USD, equal to 90 percent year-on-year. From January to October, foreign investors’ capital contribution and share purchase were valued at 6.3 billion USD, tantamount to 98.8 percent of the same period last year. Foreign investment was poured into 18 sectors, with the processing and manufacturing industry absorbing the most - 13.2 billion USD, or 47.5 percent of total registered capital. Other attractive fields were real estate, … [Read more...] about FDI disbursement hits over 15 billion USD in ten months