Exporting agricultural produce can bring in good profits, therefore, it is necessary to prioritise the domestic market, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong. In addition, Cuong added, fluctuations in the world market are becoming more difficult to predict, so the domestic market should be the priority. This is not only a
Vietnam recorded a trade surplus of 1.8 billion USD in the first seven months of the year, according to the General Statistic Office of Vietnam. During the period, Vietnam earned 145.13 billion USD from shipping goods abroad, a year on year surge of 7.5 percent. The growth in export value was mainly contributed to by
The EU-Vietnam free trade agreement (EVFTA) is expected to bring great opportunities for exporters of Vietnam and the Mekong Delta region in particular. However, insiders have advised Vietnamese firms to improve their products’ quality to overcome barriers in the choosy EU market. Nguyen Phuong Lam, Director of the Vietnam Chamber of Commerce and Industry (VCCI)
Vietnam has jumped three spots to the 42nd position out of 129 world economies in the Global Innovation Index (GII) as announced by the World Intellectual Property Organisation (WIPO) in New Delhi, India on July 24. It is the highest ranking that Vietnam has ever achieved so far. Meanwhile, Switzerland, the US, UK, Finland and
The Ministry of Industry and Trade (MoIT) is coordinating with other ministries, agencies and associations to organise a range of trade promotion activities, aiming to expand export markets for agricultural products, especially key staples. The MoIT’s Vietnam Trade Promotion Agency (Vietrade) and the Vietnam Food Association will organise a trip to the US and Mexico
The International Monetary Fund (IMF) on July 16 said Vietnam’s economic growth is projected to slow to 6.5 percent in 2019 from a 10-year high of 7.1 percent in 2018, reflecting weakening external conditions. The IMF said trade tensions and volatility affected Vietnam in 2018, but the economy had remained resilient, fueled by growth in
Vietnam will become a leading digital country and economy in the ASEAN region by 2030 and allow testing of new technologies in the digital economy. This is one of the proposals in a draft project on national digital transformation by the Authority of Information Technology Application (AITA) under the Ministry of Information and Communications (MIC).
Economists have forecast that the Vietnamese economy could grow by 6.86 percent this year, higher than the 6.6 – 6.8 percent set by the National Assembly. They made the prediction during a symposium held by the National Centre for Socio-Economic Information and Forecast (NCIF) in Hanoi on July 11 discussing 2019 mid-term economic report. Speaking
The target of keeping the country’s inflation below 4 percent is feasible, experts said at a recent seminar held in Hanoi by the Institute of Economics and Finance (IEF) under the Academy of Finance. Some even forecast CPI growth might be below 3 percent. Nguyen Duc Do, Deputy Director of the IEF, mentioned the three
