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 [...]
Advantages and challenges of trade promotion for agricultural, aquatic and forestry products were discussed at a workshop in Hanoi on December 16. The event, jointly held by the Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT), drew the participant of 64 Vietnamese trade counsellors and overseas representatives. In [...]
Advantages and challenges of trade promotion for agricultural, aquatic and forestry products were discussed at a workshop in Hanoi on December 16. The event, jointly held by the Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT), drew the participant of 64 Vietnamese trade counsellors and overseas representatives. In [...]
With an export turnover of over $6 billion in the first 11 months of this year, Vietnam’s export of telephone and components has been included in the country’s top three export items with the highest export turnover in Jan-Nov. As reported by the General Department of Vietnam Customs, Vietnam’s export for telephone and spare parts [...]
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