Vietnam develops plan to increase energy reserves

The National Petroleum and Gas Reserve Infrastructure Plan targets expanding crude oil and petroleum product reserves to 75-80 days of net imports by 2030 and 90 days by 2050, meeting the criteria of the International Energy Agency.

Low Q1 GDP growth affects annual 2023 target

Vietnam’s gross domestic product (GDP) grew 3.32 percent in the first quarter of 2023 compared with the same period last year, far below the growth scenario presented in Government Resolution 01/NQ-CP.

Positive signs for Vietnam’s rice exports

According to the Ministry of Industry and Trade (MoIT), Vietnam’s rice exports are showing positive indications and expected to reach about seven million tonnes in volume and US$4 billion in value this year.

CPTPP benefits small, medium firms

Vietnam's exports to the Pacific Rim trade deal’s member markets continue to grow strongly.

UK market ripe for more Vietnamese produce

Nearly seven tonnes of Cao Phong oranges from the northern province of Hoa Binh have recently gone on sale in the UK, attesting to the growing penetration of Vietnamese produce under the UK-Vietnam Free Trade Agreement (UKVFTA).

Supporting industry anxiously awaits new law

Vietnamese experts are urging speedy drafting of a law to bolster the country’s supporting industry, which lags behind those of other industrialized states.

Hoa Binh’s sweet taste of success

The first shipment of sugarcane from Hoa Binh Province was recently shipped to the United States.

Trade pact boosts Vietnam coffee exports to EU

The EU-Vietnam Free Trade Agreement (EVFTA) has zeroed out import tariffs on many Vietnamese coffee product lines since taking effect in August 2020, creating favorable conditions for Vietnam's coffee industry to expand EU market share.

In bold move, Vietnam cuts interest rates

Financial experts say the recent decision by the State Bank of Vietnam (SBV) to cut interest rates is a bold but reasonable move given the need to ease business access to loans in order to accelerate growth.

Trade pacts key to 2023 export growth

Free trade agreements (FTAs) are considered the key to export growth in 2023.

Localization breakthrough in auto industry

The localization rate of some domestically manufactured and assembled vehicle lines has increased impressively in recent years due to enhanced supply by domestic supporting industry, according to a report of the Ministry of Industry and Trade (MoIT).

IP rights gain growing traction in Vietnam

The development of intellectual property (IP) rights has become an effective tool to help Vietnamese firms integrate in the global marketplace by exploiting their advantages and enhancing competitiveness.

Vietnam attracts US investors

Representatives of more than 50 US companies, the largest-ever US business delegation to Vietnam, visited the country last month to explore its business and investment environment.

Life may exist in planetary 'terminator zones'

In a new study, University of California, Irvine astronomers describe how extraterrestrial life has the potential to exist on distant exoplanets inside a special area called the "terminator zone"

Deep ocean currents around Antarctica headed for collapse, study finds

The deep ocean circulation that forms around Antarctica could be headed for collapse, say scientists.

Japanese appetite grows for Vietnamese food

The 48th International Food and Beverage Exhibition (Foodex Japan 2023) which took place in Tokyo from March 7-10 offered Vietnamese companies an opportunity to seek new customers, sign export contracts, develop distribution networks and increase Japanese market share.

Rice exports looking up

Favorable conditions are forecast for Vietnam’s 2023 rice exports due to short supply in the US, China and countries in Europe affected by climate change and drought.

Vietnam, RoK forge major cooperation

The governments of Vietnam and the Republic of Korea (RoK) have agreed on cooperation in trade, energy and infrastructure construction, information and communications technology (ICT) startups and investment, and healthcare and labor standards.

Asian investors increasingly keen on Vietnam

Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

Vietnamese noodles clear EU safety hurdle

All of Vietnam’s instant noodle exports to Europe in the second half of 2022 have been found free of banned chemical residues, paving the way for eased inspection regimes of these popular products shipped to European markets.

The value of wood scraps for business

Reusing scraps derived from most stages of wood exploitation and processing will increase business profits by two to three percent.

Vietnam amends intellectual property law

Vietnam’s newly amended Intellectual Property Law has gone into force, bringing the country in line with international best practices.

Vietnam attracts Czech investors

A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

Promising trade with South America

South America is a new market with great export potential, but experts warn of major trade promotion challenges.

Vietnam seeks response to corporate tax overhaul

All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Tram Tau: A remote slice of heaven

Tram Tau hot springs, about 260 kilometers west of Hanoi, offer tourists an unforgettable experience. A tourism development campaign bills this remote corner of Yen Bai Province a “miniature Bali”.

Uncorking bottlenecks for support industry development

Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Understanding UK trade remedies

The UK-Vietnam Free Trade Agreement (UKVFTA), which entered into force on 1 January 2021, has become a two-way highway promoting bilateral trade.

Hoa Binh, sustainable investment destination

The north-central province of Hoa Binh has recently licensed 16 investment projects totaling VND49 trillion, reflecting the province’s drive for sustainable development and its unique advantages.

Da Nang greens textile-garment industry

Textile and garment enterprises in the southcentral coastal city of Da Nang are seeking to green their production through the use of renewable energy, waste reduction and wastewater standardization.

Retail giants ramp up Vietnam investment

The recently announced major investment in Vietnam by retail giant Central Retail Corporation (CRC) reflects the market's attractiveness and growth potential in 2023.

Hanoi to speed up public investment

Chair of Hanoi People's Committee Tran Sy Thanh is urging the Government and National Assembly to provide the capital with greater power to speed up public investment.

Hanoi economy presents mixed picture

Hanoi’s total retail sales of goods and services increased 18 percent in January compared with the same period last year. The capital has also identified 22 targets for socioeconomic development in 2023.

Digital tech firms enter new phase

Vietnamese digital technology firms are entering a new period of development, bringing “Make-in-Vietnam” products to the world and accelerating domestic digital transformation.

Son La Dam’s powerful tourism potential

The area of the Son La hydropower reservoir, with its cultural features of the Thai, Tay and La Hu ethnic groups, is being awakened by tourism development to benefit local residents.

Ministry betters business environment

The Ministry of Industry and Trade (MoIT) has implemented government resolutions on improving the business environment and enhancing national competitiveness.

Fresh produce exports set to grow

The Vietnamese fruit and vegetable sector poised for promising year as exports rose 3.1 percent in January 2023.

Vietnam eyes green hydrogen development

On March 7 in Da Nang City, the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, the ASEAN-Japan Center, and the Vietnamese Trade Office in Japan jointly held a workshop on the application and development of the hydrogen technology in green energy transition.

Trade deal with UK bolsters Vietnamese exports

The United Kingdom is the world’s fourth largest importer, but Vietnam’s share accounts for less than one percent of its total import value, signaling ample room for increased Vietnamese exports to this market.

Trade deal with EU a hit so far

Vietnam's exports to the EU have seen positive growth more than two years after the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020.

Rise of February industrial production index

According to data from the General Statistics Office of Vietnam, industrial production in February 2023 grew an estimated 5.1 percent compared with January due to a higher number of working days.

Vietnamese pomelos star in UK market

First Dien pomelos from the northern province of Hoa Binh are now available on the shelves of Longdan supermarkets in the UK, welcomed by the Vietnamese community in the country and local consumers.

Credit crunch burdens real estate market

Credit plays a major role in the recovery of the real estate market, but in light of major debts, experts are advising that capital be provided only for reliable projects.

Unclogging textile-garment sector supply chain

The government’s backing, especially investment capital and legislation on raw material production, is important and necessary to develop textile and garment support industries.

Green transformation, more than a slogan

The EU is set to launch a pilot phase of the Carbon Border Adjustment Mechanism (CBAM) in October 2023 and fully implement it starting January 1, 2026.

By mid-February, Vietnam's trade value had reached 72 billion USD

The General Department of Vietnam Customs reports that the country's total trade value between January 1 and February 15 was over 72 billion USD, with export turnover at 37 billion USD and a trade surplus of almost 1.7 billion USD.

Industry, trade sector responds to climate change

The Ministry of Industry and Trade (MoIT) considers climate change response and green growth an important long-term task.

Trade deal with the UK boosts investment

The bilateral trade and investment relations between the United Kingdom and Vietnam have recorded positive results in the first year of the UK-Vietnam Free Trade Agreement (UKVFTA).

Turkey natural stone trade mission to Vietnam

A B2B event to connect trade between Turkish and Vietnamese natural stone enterprises to create opportunities for Vietnamese businesses to approach international quality supplies.