Today: 29/11/2021 15:39:02 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

Vietnam trade to climb to new peak

Vietnam’s trade could reach a record high of $600 billion in 2021, the Ministry of Industry and Trade has said.

This would be 10 percent higher than last year as against a government target of 4-5 percent, it said.

It had reached $510 billion as of Oct. 15 with a marginal deficit.

Vietnam trade, new peak, Covid-19 pandemic, record high,   marginal deficit, recovering manufacturing and exports

A container ship is seen at Tan Cang Cai Mep Terminal in the southern province of Ba Ria-Vung Tau.

Vietnam, which has been recording a trade surplus for years, has been suffering a deficit this year as social distancing and travel restrictions imposed to curb the spread of Covid-19 hurt exports.

So the final value would be dependent on curbing Covid-19 and recovering manufacturing and exports, the ministry said.

If there are no more major outbreaks in the remaining months and southern-based companies regain their growth momentum, the deficit could be wiped out and there could even be a surplus, it added.

Several large FDI plans announced recently seem to substantiate the ministry’s forecast.

South Korean electronics giant LG Display in August announced an additional investment of $1.4 billion in its manufacturing facility in Hai Phong this year.

Vietnam and Chile strengthen trade and investment cooperation
The Vietnamese Embassy in Chile and the Chile-Vietnam Chamber of Commerce have held a seminar to examine cooperation opportunities for 2021-2022 as part of the activities marking the 50th founding anniversary of Vietnam-Chile diplomatic relations.
 
IFC’s funding helps promote trade in Vietnam amid Covid-19
Nearly 2,000 Vietnamese exporters and importers have benefited from International Finance Corporation (IFC) trade financing, designed to help them withstand the impacts of Covid-19 and protect jobs.
 
Vietnam asks China’s Guangxi to facilitate cross-border trade
Vietnam has proposed China’s Guangxi Zhuang Autonomous Region to provide all possible conditions for cross-border trade during a video teleconference between Minister of Industry and Trade Nguyen Hong Dien and Party Secretary of Guangxi Zhuang Autonomous Region Lu Xinshe earlier this week.
 
The US will not take any trade action against Vietnam
The European-American Market Department under the Ministry of Industry and Trade (MoIT) announced that the Office of the United States Trade Representative (USTR) has issued a formal conclusion of the investigation under Section 301 of the 1974 Trade Act into the acts, policies and practices of Vietnam related to the valuation of Vietnam’s currency.
 
Thai Nguyen tea gets trademark in international markets
The collective trademark "Thai Nguyen tea" has been successfully registered for copyright protection by Thai Nguyen province in the US, China, Taiwan (China) and Russia.
 

Source: VnExpress

Vietnam trade, new peak, Covid-19 pandemic, record high, marginal deficit, recovering manufacturing and exports
 
New comment has just been added. Click here
Sort:NewBest News