Vietnamese businesses have now many opportunities to export various commodities to Germany. Vietnamese businesses have now many opportunities to export various commodities to Germany, said experts at a seminar on “The Federal Republic of Germany- Vietnamese businesses gateway to European market” in Ho Chi Minh City on December 27. Germany now ranks at 6th place [...]
Industry experts are mulling ways to boost Vietnam’s exports in 2012. Deputy Minister of Industry and Trade Nguyen Thanh Bien said a tough world economy in 2012 would challenge Vietnam’s trade promotion, while dampening export performance of Vietnamese firms. “The price of exported rice soared one month ago due to scarce supply. However, competition from [...]
Germany is Vietnam’s sixth largest export market after the US, Japan, China, Australia and Singapore, and it is the gateway to the huge, lucrative European market. The European Union member country is the world’s second largest importer, mostly purchasing machinery, chemicals, tobaccos, food, beverage, metals and oil products. Experts attending a workshop in Ho Chi Minh [...]
The year 2011 witnesses the import and export turnover on the rise and the trade gap on the decrease, which should be seen as the “good news” for Vietnam’s foreign trade. 1. Growing in difficulties At the beginning of the year, state officials and experts all predicted that 2011 would be a difficult year for [...]
Viet Nam’s trade deficit this year was the lowest in the past 10 years, reaching just over US$9.5 billion, a year-on-year decrease of nearly 23 per cent and equivalent to 9.9 per cent of the total export value – half of the Government’s target of 18 per cent for the whole financial year, the General [...]
Vietnam’s export businesses have made a good profit this year but will have to improve their performance. New challenges It’s likely that Vietnam will find it more and more difficult to penetrate potential markets such as the US, EU, Africa and West Asia. Vietnam’s Ambassador to Belgium Pham Sanh Chau says the EU is a [...]
International Finance Corporation (IFC), a member of World Bank, announced a $30 million loan to Vietnam International Bank (VIB), for import-export trade development and for creating more jobs. According to Duong Thi Mai Hoa, general director of VIB, the fund is part of IFC’s Global Trade Finance Program. The fund is expected to help VIB [...]
HCM City’s total export and import turnover of goods in 2011 (excluding crude oil) is estimated to have reached $47.131 billion in 2011, rising nearly $7.58 billion from 2010 (up 19.2 percent on year), the HCM City Statistics Bureau reported. Particularly, the total export turnover of goods of HCM City-based enterprises in December is estimated [...]
Vietnam’s export earnings to Africa, and South and West Asia hit US$6.43 billion in the past three quarters of this year, exceeding the annual target by 10 percent, according to the Ministry of Industry and Trade (MoIT). Exports to Africa earned US$3.08 billion, up 125 percent compared to the same period in 2010. South Africa [...]
Vietnam’s export revenue to Egypt in 2011 is expected to reach about US$250 million, US$80 million higher than same period last year, said Vietnamese Trade Counselor to Egypt Phan Minh Quang. However, due to the political crises in some Middle Eastern and North African countries, the number is only half of the initial target set [...]
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