Gdp

The production sector is expected to obtain 1.5 percent growth rate in 2020 and contribute to the general growth rate decreasing by 1.8 percentage point. Meanwhile, the contribution to GDP by the service sector is predicted to decrease from 2.8 percentage points in 2019 to 0.5 percentage point. … [Read more...] about Covid-19 holding Vietnam’s economic growth back

The Covid-19 pandemic and US-China trade tensions have made companies look at the need to diversify their supply chains. For example, Japan recently announced a first list of companies it will subsidy to relocate from China to Japan or South East Asia. News reports suggest 30 companies plan to move to Southeast Asia. Half of these could move to Vietnam to produce medical equipment, semiconductors, phone components, air conditioners and power modules. … [Read more...] about Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC

Nicolas Audier, chairman of EuroCham, said in a press release issued Monday: "The EVFTA is now more important than ever, as trade wars and a global pandemic disrupt normal business operations on an unprecedented scale. Free, fair and rules-based trade is the best roadmap to economic growth, and Vietnam will now have privileged access to an EU consumer market of around 500 million people who will be keen to do business with and invest in a strong, secure, and prosperous nation at the heart of Asia." … [Read more...] about Vietnam ratifies EU free trade agreement

Vietnam is currently the 16th-largest trade partner of New Zealand and the two countries boast many advantages from supplementing each other. New Zealand has high demand for importing garments and textiles, footwear, wood, tropical farm produce, and seafood, which are strengths of Vietnam, while Vietnam needs to import milk and dairy products, wine, lamb, fruit, raw wood materials, and materials and accessories for garment-textile and leather-footwear. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 3

In the last 18 years, two-way trade value between the EU and Viet Nam has increased more than 13 times from about US$4.1 billion in 2000 to $56.45 billion last year. Vietnamese exports to the EU last year reached almost $41.5 billion and imports from the EU were over $14.9 billion, he said. … [Read more...] about Vietnam fulfills international commitments as EVFTA takes effect