Vietnam aims to make coconuts a key export, with an annual revenue of 1 billion USD over the next five years.
Although most businesses believe that the food and beverage industry market will improve in the remaining months of this yea.
Samsung has identified Viet Nam as an important global production hub and wishes to maintain its position as the largest foreign investor in Viet Nam over the next 20-30 years.
Ho Chi Minh City’s financial sector has forecast that the southern economic hub’s budget revenue collection may face a shortfall of 4-5% this year as compared to the assigned estimate.
- Ministries, SBV requested to boost corporate bond, real estate markets 1
- Carbon market development key to green transition 2
- Vietnam targets $44 billion in textile, apparel exports in 2024 3
- Vietnam set to raise effective tax rate on multinationals as part of global deal 4
- The dark side of labor export 5
- HCM City eyes 6 million foreign arrivals in 2024 6
Vietnam saw over 15,400 newly-established enterprises with total registered capital of 125.8 trillion VND (5.1 billion USD) and a registered workforce of 131,600 in October.
Vietnam is the world's sixth-largest fibre exporter and the world's third-largest exporter of textiles and garments - just behind China and Bangladesh.
Ho Chi Minh City's economy continues to maintain positive growth momentum, driven by industrial production, domestic consumption, and stable supply and demand.
Vietnam is currently a major producer of agricultural products, an achievement greatly attributable to science and technology, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam needs around $134.7 billion to develop power plants and grid projects by the end of this decade, the Ministry of Industry and Trade has estimated.
Vietnam, with a population of nearly 100 million people, is considered a potential investment market for famous retailers around the world, therefore, many foreign retailers have increased their investments.
Over 15.29 billion USD was channelled into 2,608 new foreign direct investment (FDI) projects as of October 20, respectively up 54% and 66.1% year on year, statistics showed.
The value of Vietnam’s durian export in the first nine months of 2023 reached 1.63 billion USD, 14 times higher than the figure of same period last year.
Vietnamese durian exports to the UK have increased due to high demand for this fruit and the advantages of the UK-Vietnam Free Trade Agreement (UKVFTA).
As Vietnam is emerging as a magnet for foreign businesses, domestic companies now have numerous opportunities to join global supply chains and develop supporting industries.
In order to compensate for the decline in traditional markets, Vietnamese airlines have been actively looking for new international routes from major hubs.
Singapore gives conditional approval for 1.2GW of electricity imports from Vietnam to Sembcorp Utilities.