China economic outlook

At the meeting between Dinh Tien Dung , Politburo member and Secretary of the Hanoi Party Committee and Wang Huning , a member of the Politburo Standing Committee and Chairman of the National Committee of the Chinese People’s Political Consultative Conference ( CPPCC ) in Beijing on September 28. (Photo: VNA) Beijing (VNA) – Dinh Tien Dung, Politburo member and Secretary of the Hanoi Party Committee paid a courtesy call to Wang Huning, a member of the Politburo Standing Committee and Chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), in Beijing on September 28. Dung informed his host on the aims of his delegation’s visit to China, which are to further concretise and implement the shared understanding between the top leaders of the two countries and parties reached during General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong’s official trip to China last year, and to carry out the cooperation … [Read more...] about Hanoi leader meets with China’s top political advisor

A foreign-invested footwear material factory in Thuan An city, Binh Duong province (Photo: VNA) Hanoi (VNA) – Many foreign press agencies have run articles featuring Vietnam’s economic growth, pointing to rosy signs in its recovery. French wire service AFP cited statistics by the General Statistics Office (GSO) showing the economy grew 5.33% in the July-September period from a year earlier, and that loan interest rate reductions, an extension of tax payments and increased public investment had a positive impact. Nikkei Asia also said the growth was accelerated thanks to tourism, noting “the services sector helped boost economic output during the three months through September, driven mainly by retail and tourism. The sector is estimated to account for about 40% of Vietnam's GDP.” “Travelers returned to popular destinations like the central city of Da Nang, with the number of foreign visitors entering the country from July to August reaching 2.25 million, already … [Read more...] about Foreign media upbeat about Vietnam’s economy

Vietnam-China relations have made substantial progress over the past decade, with numerous positive outcomes that benefit both countries and contribute to regional and global peace, stability, and development. Hanoi supports comprehensive relations with Beijing and Guangdong, especially in fields of trade–investment, healthcare, science and technology, and urban development. Secretary of the Hanoi Party Committee Dinh Tien Dung (l) and Chairman of the Chinese People’s Political Consultative Conference Wang Huning (r). Photos: The Hanoi Times Secretary of the Hanoi Party Committee Dinh Tien Dung stressed the view during a meeting with the Chairman of the Chinese People’s Political Consultative Conference Wang Huning on September 28. At the meeting, Dung expressed his delight at visiting China and Beijing again , where he witnessed significant progress and accomplishments made by the Chinese people. He extended warm congratulations to the Chairman of the … [Read more...] about Hanoi supports comprehensive relations with Beijing, Guangdong

The formulation of capital planning is an integral component of Hanoi's endeavors to achieve its developmental goals by 2030, with a forward-looking perspective reaching to 2045. Hanoi commits to transforming into a globally interconnected metropolis by 2045, serving as the country's visage, said Deputy Secretary of the Hanoi Party Committee Nguyen Van Phong at a scientific conference on the Hanoi Planning Orientation for 2021-2030 , with a vision to 2050, held today [September 29]. Overview of the conference. Photos: Thanh Hai/The Hanoi Times Phong said the city's goal is not merely to vie for supremacy with other provinces and cities in the country but to position itself globally, comparable to countries in Asia and the world. During the conference, Deputy Chairman of the Hanoi People's Committee Ha Minh Hai said that the formulation of the capital planning for the 2021-2030 period, with a vision to 2050, is an integral component of Hanoi's endeavors to … [Read more...] about Hanoi aspires to become a global city

A customer shops at MM Mega Market An Phú's food wholesale and distribution centre in Thủ Đức District in HCM City. In the first nine months of 2023, CPI increased by 3.16 per cent over the same period last year; core inflation rose by 4.49 per cent. — VNA/VNS Photo Mỹ Phương Việt Nam’s gross domestic product (GDP) expanded by 4.24 per cent in the first nine months of this year, the General Statistics Office (GSO) said on Friday. The expansion is nearly the lowest 9-month GDP growth in 13 years, only higher than the same period of 2020 and 2021, which recorded growth rates of 2.19 per cent and 1.57 per cent respectively. In Q3 alone, GDP posted a year-on-year rise of 5.33 per cent, also nearly the lowest third-quarter GDP growth in 13 years, only higher than the same quarters of 2020 and 2021. The information was released at a conference held on Friday in Hà Nội by the GSO. In Q3, the agro-forestry-fishery sector grew by 3.72 per cent, contributing 8.03 per cent to the … [Read more...] about Việt Nam’s economy grows 4.24 per cent in nine months of 2023

During the January – September period, Vietnam exported some 259.67 billion USD worth of products, a year-on-year fall of 8.2%. Meanwhile, the country's imports totaled 237.99 billion USD, down 13.8% year on year. Regarding the structure of exported goods in the period, processed goods accounted for 88.3% of the total export value, with 292.22 billion USD. As for imported goods, materials for production made up 93.7% of the value, with 223.08 billion USD. The U.S. was the largest export market of Vietnam with 70.9 billion USD, while China was the largest import market of the Southeast Asian country with 79.1 billion USD. According to the Ministry of Industry and Trade, the drop in Vietnam’s exports was attributed to slow recovery of the global economy, falling demand and high interest rates in developed countries such as the U.S., E.U. nations and China, coupled with a tightened monetary policy and high levels of inventory. The ministry will continue to keep a close watch on … [Read more...] about Vietnam posts trade surplus of 21.68 billion USD in nine months

During the period, the total export-import turnover of agro-forestry-aquatic products hit 6.9 billion USD, down 7.5% year-on-year. Of which, nearly 38.5 billion USD was from exports . In September alone, the export revenue of agro-forestry-aquatic products reached 4.8 billion USD, down 2.7% monthly and up 22% annually. China, the US and Japan remained the top three export markets of Vietnam ese farming products. The ministry said, it will continue developing both domestic and export markets, while dealing with market-related issues to create favorable conditions for the export of agro-aquatic products to China, the US, the European Union and the Eurasian Economic Union. It will also help exporters make full use of free trade agreements as well as help firms secure new export contracts, protect trademarks and provide geographical indication for Vietnam's potential export products in foreign markets./. VNA … [Read more...] about Agro-forestry-fisheries sector posts 22.5% rise in trade surplus