Vietnam supply chain

Vietnam's export revenue in 2022 is expected to reach an estimated 368 billion USD (Photo: VNA) Hanoi (VNA) - Vietnam's export revenue in 2022 is expected to reach an estimated 368 billion USD, a year-on-year rise of 9.46%, according to a report by the Ministry of Industry and Trade (MoIT). The number would surpass the targets set by the Government and the ministry, at around 8%. The report said that the country’s import value is estimated at 367 billion USD in the year, resulting in a trade surplus of some 1 billion USD, fulfilling the set target. Recovery signal s The MoIT's report showed that in the first six months of this year, export-import value stood at over 371.3 billion USD, including more than 186 billion USD worth of exports, up 17.3% from the corresponding time last year. The export of the domestic economic sector rose 19.5%, higher than the 16.6% increase of the foreign direct investment (FDI) sector, including crude oil, the ministry said. This … [Read more...] about Vietnam expected to enjoy 1-billion-USD trade surplus in 2022

RMIT experts Majo George, Nguyen Manh Hung, and Nguyen Le Huy have discussed the ability of Vietnam to become a semiconductor manufacturer As a result of the pandemic, there has been a severe chip shortage globally. Coronavirus has affected production by the “Big 4” semiconductor players in Taiwan, China, Japan, and South Korea. The work-from-home trend has increased the sales of laptops, home entertainment systems and game consoles, raising the need for chips and tipping the demand-supply balance. A move to produce chips in Vietnam would be timely, as the world has a shortage and country is undergoing a digital transformation that includes a transition to digital governance, digital economy, and digital society. "Venturing into chip manufacturing will be a chance for Vietnam to self-develop or acquire cutting-edge technological expertise. This might be a challenge, but the move will boost Vietnam's future aspiration to become the prominent manufacturing hub in … [Read more...] about Vietnam ready to embrace semiconductor manufacturing

Vietnamese firms capitalise on market opportunities to bolster exports. (Photo: VNA) Hanoi (VNA) - Exports continued to record positive results in the first eight months of 2022 , as Vietnam enjoyed a trade surplus of about 3.96 billion USD in the period, a representative of the Ministry of Industry and Trade said. Export turnover saw a strong recovery, helping the country earn a trade surplus in the first eight months of the year. In particular, exports to major markets including the US, Europe and Japan all achieved double-digit growth, affirming the position and responsiveness of Vietnamese goods in the value chain. Maintaining growth in key export markets A report of the MoIT showed that although exports reported a downward trend in July, the figure hit 33.38 billion USD in August to post a month-on-month increase of 9.1 percent. The expansion brought the eight-month figure to 250.8 billion USD, up 17.3 percent against the same period last year. Statistics … [Read more...] about Export turnover exceeds 250 billion USD in eight months