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A panel discussion at the Viet Nam-US Trade Forum in HCM City on November 17. — VNS Photo The annual Viet Nam-US Trade Forum has heard that clean energy, infrastructure, healthcare, and digital economy are among the areas in which the two nations can expand trade ties in future. Speaking at the forum in HCM City on Thursday, Deputy Minister of Industry and Trade Do Thang Hai said Viet Nam has always considered the US one of its most important partners. The official cited statistics as showing that two-way trade increased from US$450 million in 1995 when the two countries established diplomatic relations to $113 billion last year. The US has been Viet Nam’s second biggest trading partner and the largest and most important export market for many years, while Viet Nam is the eight largest trading partner of the US, he said. For many years the US has also been one of the largest investment partners, and now ranks 11th out of 141 countries and territories with a presence in Viet … [Read more...] about Forum promotes Viet Nam – US trade, investment relations

Nguyen Tuan, deputy director of the HCM City Investment and Trade Promotion Centre, speaks at the Viet Nam-Poland trade promotion seminar on Wednesday in the city. — VNA/VNS Photo There is much room for Viet Nam and Poland to expand trade and investment ties, especially in cosmetics and beauty care products, experts said at a Viet Nam-Poland trade promotion seminar on Wednesday in HCM City. Nguyen Tuan, deputy director of the HCM City Investment and Trade Promotion Centre (ITPC), said Poland was one of the first partners to establish diplomatic ties with Viet Nam. It is Viet Nam’s largest trading partner in Eastern Europe, and Viet Nam is Poland’s seventh largest trading partner, he said. Viet Nam is one of the most promising markets for Polish companies in Southeast Asia for retail sectors such as healthcare, cosmetics, mother and baby products, fashion, sports and food, he noted. HCM City is home to 238 markets, 206 supermarkets, 49 shopping malls and 2,656 convenience … [Read more...] about Viet Nam, Poland to expand trade, investment ties

National Assembly Chairman Vuong Dinh Hue (centre) is welcomed by participants at the business forum. — VNA/VNS Photo Chairman of the Vietnamese National Assembly Vuong Dinh Hue on Thursday reiterated the goal of lifting two-way trade between Viet Nam and the Philippines to US$10 billion in a more balanced manner by 2026 when they celebrate the 50th anniversary of diplomatic ties. Addressing the Viet Nam-Philippines Investment-Trade Forum, Chairman Hue emphasised that Viet Nam and the Philippines share many similar strategic interests and are two dynamic developing economies with a trade turnover of $7 billion. Hue noted that the number of Vietnamese companies doing business in the Philippines remained small, and Philippines businesses have only invested around $600 million in Viet Nam. This failed to meet the potential of both sides. He said Viet Nam would continue doing well in farm produce trading activities while ensuring a high and stable export of rice at reasonable … [Read more...] about Viet Nam, Philippine look toward US$10 billion in trade by 2026

CTPPP has a very clear impact on seafood export in Viet Nam. — Photo courtesy of VASEP Viet Nam's seafood industry enjoyed a significant increase after more than three years of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) taking place. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), told local media CPTPP had a very clear impact on seafood export as importers from CPTPP accounted for 25 per cent of the total export turnover of Viet Nam. She added now that Malaysia has ratified the CPTPP on October 5, products would enjoy preferential tax rates under the agreement from November 29. Hang said that up to now, the market share of Vietnamese seafood in some markets in the CPTPP has changed, especially those in Latin America. She said: "Before the CPTPP Agreement, Canada accounted for 2.7 per cent of Viet Nam's total seafood export value. Up to this point, Canada has accounted for 3.7 per … [Read more...] about Viet Nam’s seafood market share in Latin America increases thanks to CPTPP

Delegates discuss trade promotion at the Viet Nam-Latin America Trade Forum in HCM City on November 25. — VNS Photo Viet Nam and countries in South America have plenty of room for expanding trade and investment since their economies are complementary, the Viet Nam-Latin America Trade Forum heard in HCM City on November 25. Deputy Minister of Industry and Trade Do Thang Hai said trade relations have been growing strongly over the years, almost doubling in the last five years to US$21.4 billion last year. Besides markets that have had trade with Viet Nam for many years such as Brazil, Mexico, Argentina, and Chile, countries such as Panama, Colombia and Peru have emerged as new bright spots, he said. Despite the difficulties in the global economy this year, trade between the two sides rose by 10.5 per cent in the first 10 months of the year to $18.7 billion. Viet Nam’s exports and imports were worth $10.2 billion and $8.6 billion, year-on-year increases of 5.3 per cent and 17.3 … [Read more...] about Viet Nam, Latin America discuss trade promotion at forum

PM Jacinda Ardern (right), Vietnamese Minister of Agriculture and Rural Development Le Minh Hoan (centre), and Minister for Trade and Export Growth and Minister of Agriculture of New Zealand Damien O'Connor witness the signing of a document on exporting Viet Nam’s lime and pomelo to New Zealand. —VNA/VNS Photo Vu Sinh Prime Minister of New Zealand Jacinda Ardern viewed agriculture as a basis for relations with Viet Nam while addressing an agriculture connection event (AgriConnectioNZ) in Ha Noi on November 15. In her remarks, she said agriculture is not only a crucial sector of the two economies but also part of the countries’ cultural identities, noting that farmers are a key factor in the economy of New Zealand. Describing New Zealand and Viet Nam as destined partners in agriculture, the PM noted with the common commitment on free trade and their reputation in food production and export, both countries are proud to be providers of food for the whole world. She also pointed … [Read more...] about Agriculture a basis of Viet Nam-New Zealand relations: PM Jacinda Ardern

Danny Le (standing), CEO of Masan Group, at the Viet Nam – Germany Business Roundtable on November 13. —  Photo courtesy of Masan Masan Group looks forward to the government’s support in ensuring steady raw material supply for its key tungsten scrap recycling project that seeks to turn Viet Nam into a tungsten recycling technology hub, according to its CEO Danny Le. At the Viet Nam – Germany Business Roundtable attended by Prime Minister Pham Minh Chinh and German Chancellor Olaf Scholz on November 13, he said Masan established a relationship with German businesses in 2013 when it was seeking tungsten refining technology to fulfill its commitment to the government to go downstream and increase the value of Viet Nam’s industrial minerals. Masan began partnering with H.C. Starck GmbH, a leading business in tungsten refining and recycling in Germany with over 100 years of experience and one of the few in the world with a comprehensive and environment-friendly Tungsten recycling … [Read more...] about Masan aims to turn Viet Nam into a tungsten recycling technology hub

Representatives of some 20 leading businesses from New Zealand and Viet Nam's ministries of Planning and Investment and Industry and Trade pose for a photo at the Viet Nam - New Zealand Business Dialogue, which opened in Ha Noi on November 15. — VNA/VNS Photo Tuan Anh Representatives of some 20 leading businesses from New Zealand accompanied Prime Minister Jacinda Ardern to the Viet Nam-New Zealand Business Dialogue on November 15 to sound out business opportunities, which reflects the two countries’ determination to increase two-way trade turnover to US$2 billion by 2024. Themed “A Strategic Partnership in Trade and Investment”, the dialogue was jointly held by Viet Nam’s Ministry of Industry and Trade (MoIT) and Ministry of Planning and Investment, and the New Zealand Embassy in Viet Nam. It offered a platform for policymakers and businesses of the two countries to discuss investment and business opportunities and promote bilateral trade. In her remarks, PM Ardern stressed … [Read more...] about PM Jacinda Ardern attends Viet Nam-New Zealand Business Dialogue

A Vietnamese business executive shares information about company at a business matching event between enterprises from HCM City and Osaka, Japan, in HCM City on Tuesday. — VNA/VNS Photo Xuan Anh Viet Nam is the key source market in Southeast Asia for Japanese importers, a business matching event between HCM City and Japan’s Osaka city has heard. Speaking at the meeting in HCM City earlier this week, Quyen Thi Thuy Ha, head of the Viet Nam Trade Office branch in Osaka, said Japanese businesses are seeking alternative supply sources for many products they used to buy from China. They are targeting Southeast Asia, with Viet Nam being the focus, she said. Viet Nam is very strong in most of the products they are seeking as fruits, seafood, processed foods, and rice noodles, she said. They are also looking for sources for fine art products and grocery items, she said. Viet Nam exports a lot of agricultural and processed products to Japan, but mainly for selling to Vietnamese … [Read more...] about Viet Nam key source for Japanese importers: business matching event

Refined bird's nest products produced in a farming site in Ha Tinh Province. China opens its market for Viet Nam's bird's nest. — VNA/VNS Photo Vu Sinh Viet Nam bird’s nests will be officially exported to China after the protocol on allowing the exportation of this product was signed by both countries. Minister of Agriculture and Rural Development Le Minh Hoan on Wednesday signed this protocol after it was signed by China’s side. Hoan said the ministry will start preparing the promotion strategy to export bird's nests to China soon. China is the world's largest market for bird's nests, accounting for more than 80 per cent of the global market share. According to the specialised data on bird's nest imports, demand for this product has risen steadily in this market with the import volume rising from 180 tonnes in 2019 to 220 tonnes in 2020 and more than 300 tonnes in 2021. Meanwhile, Viet Nam has many favourable conditions for swiftlet farming with its long coastline, many … [Read more...] about Viet Nam bird’s nests to enter Chinese market through official channel