The Ministry of Planning and Investment has mapped out two scenarios for economic, with the national economy growing at least 7.06% in the final quarter of the year to reach a growth rate of 3% for the whole year, and the quarterly growth set to hit 8.84% to fulfil the year target of 3.5%.
Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.
Australian Prime Minister Scott Morrison will focus on strengthening economic, security and people to people cooperation between Australia and Vietnam during his forthcoming visit to Vietnam from August 22-24.
Romania is a market of great potential to Vietnam’s exports like tropical fruits (fresh and canned), seafood (frozen and canned), coffee, pepper, cashew nut and pork, although the European country has a relatively developed agriculture, according to the Ministry of Industry and Trade.
Prime Minister Nguyen Xuan Phuc called for a breakthrough in Vietnam – Romania economic, trade and investment ties in his address to the Vietnam – Romania business forum in the capital city of Bucharest on April 15.
Southern localities of Vietnam has been a major destination for investment from the Republic of Korea (RoK) in recent years, and local textile-garment and footwear industries have proved to be a magnet for an influx of capital from this country.
Vietnam’s agro-forestry-fishery exports in February hit 1.93 billion USD, bringing the figure in the first two months of this year to 5.5 billion USD, a decrease of 1.6 percent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD).
Deputy head of the Party Central Committee’s Economic Commission and Chairman of the Vietnam Oil and Gas Group’s Member Council Tran Sy Thanh held a working session with authorities of the central province of Quang Nam on March 1 to discuss the launch of Blue Whale gas field project – the largest of its kind in Vietnam.
Member states of the Association of Southeast Asian Nations (ASEAN) should prioritise progress on regional initiatives to cope with major economic headwinds in the context of increasing US-China trade tensions, according to eastasiaforum.org.
The Vietnam-Cuba Inter-Governmental Committee convened its 36th meeting in Havana on November 29 with the determination to continue strengthening and diversifying bilateral economic and trade ties.
Vietnam registered to invest 303.5 million USD abroad in the first 11 months of this year, plus 55 million USD worth of additional capital for existing overseas projects.
Vietnam shipped abroad 264,000 tonnes of rice in October this year for 136 million USD, pushing the total figures so far this year to 5.2 million tonnes worth 2.6 billion USD, up 1.7 and 14.1 percent year-on-year.
The attraction and use of foreign direct investment (FDI) in the past 30 years have proven that the door-opening policy of the Party and State of Vietnam is a correct choice in line with the development trend of the era and the country’s situation, Minister of Planning and Investment Nguyen Chi Dung said.
Vietnam is one of the largest coffee producers in the world, earning more than 3 billion USD from the export of coffee bean each year, but the country mainly sells beans as material with low added value.
The Government will have to decide either to devalue the Vietnamese dong further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/dong exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.
Hanoi’s industrial production index rose by 7.8 percent in the first five months of this year, said Director of the municipal Department of Planning and Investment Nguyen Manh Quyen.
The competition authority in Vietnam have yet to make the next moves over a transaction in which Grab acquired Uber Technologies Inc’s Southeast Asian business after asking Grab to report details of the deal.
Most of relevant ministries, agencies, localities, organizations and individuals have thrown their weight behind a draft resolution to increase environmental protection tax on fuels prepared by the Ministry of Finance.
