Vietnams export economy

Illustrative image (Photo: VNA) Hanoi (VNA) - HSBC experts have predicted that Vietnam's economy will continue to gain traction, despite a less rosy external picture. According to the bank, Vietnam saw a year-on-year increase of 17% in exports in the first six months of 2022, but it will be hard for overseas shipments to meet expectations in the last half of the year. In its "Vietnam at a glance" report released on August 17, the bank said that after impressive export growth in the first half of 2022, a slower-than-expected pace was recorded at the start of the second half. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung's second-quarter results show that demand for consumer electronics is weakening, affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered … [Read more...] about Vietnam’s economy continues to gain traction: HSBC

Phan Thi Hue, head of the Legal Inspection Department under the Vietnam Directorate of Fisheries, noted that the EC will not try to remove the ‘yellow card’ regarding the detection of fishing vessels encroaching in foreign waters. An EC report in May warned that it is likely to impose ‘a red card’ on Vietnamese seafood in the event that violations on fishing regulations are not handled in a quick manner. The EC has therefore highlighted Vietnamese determination and efforts to gradually reduce the number of fishing vessels violating regulations regarding IUU fishing in foreign waters located in the Pacific region. It also spoke highly of the country’s goodwill, co-operation, transparency, and honesty in providing information about the fishing vessel database, as well as issuing a legal framework in line with international standards towards sustainable and responsible fishery management and international integration. Despite this, IUU inspection missions to several localities … [Read more...] about Greater efforts aim to remove Vietnam from IUU fishing warning

During their meeting, FM Son and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn were pleased with the fruitful developments of the bilateral relationship in recent times, and agreed to continue promoting the exchange of high-level visits via all channels, enhancing people-to-people exchange; maintaining and optimizing the effectiveness of existing bilateral cooperation mechanisms; fostering economic connections; strengthening cooperation between localities, especially those that share borders; and exerting effort to speed up tourism recovery. They also agreed to accelerate negotiations towards completing the remaining 16% of the land border demarcation and marker planting in order to build a common borderline of peace, friendship, cooperation and sustainable development between the two nations; and closely coordinate at regional and international forums as well as sub-regional mechanisms, and support each other's candidacy to multilateral organizations. Sokhonn … [Read more...] about Foreign Minister meets Cambodian, Philippine, Malaysian counterparts

The figure showed an increase of 9.5 percent year on year and accounted for over one fourth of the country’s total import-export revenue. Of the figure, Vietnam’s export revenues were USD 78.98 billion, a rise of 8.4 percent over the previous year and accounting for 36.7 percent of the country’s total export value. Meanwhile, imports from G7 countries reached USD 34.03 billion, an increase of 12.3 percent and contributing 16 percent to total import revenue. As a result, in 2017, Vietnam enjoyed a trade surplus of USD 44.95 billion with G7 countries. Prime Minister Nguyen Xuan Phuc of Vietnam was invited to attend the G7 Outreach Summit in Charlevoix region, Canada’s Quebec state, from June 8-10. Vietnam and Bangladesh are the only Asian countries to be invited to the event, proving that G7 member states and the host, Canada, highly appreciate Vietnam’s role and stature. Source: VNA … [Read more...] about Trade revenue with G7 members totals USD 113 billion in 2017

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA) Binh Dinh (VNA) – Prime Minister Pham Minh Chinh urged the north-central and central coastal regions to create more breakthroughs in development to match their potential and advantages while addressing a conference in Quy Nhon city, Binh Dinh province, on February 5. The conference touched upon the implementation of the Government’s action plan to materialise the Politburo’s Resolution No. 26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defence and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” The regions hold strategic positions and roles of special significance in terms of economy, especially maritime economy, politics, culture, social affairs, environment, external relations, … [Read more...] about PM asks north-central, central coastal regions to create development breakthroughs