Business News

China has remained Vietnam’s biggest trade partner, while Vietnam has continued to be the sixth largest trade partner of the neighbouring country, and the biggest in ASEAN despites impacts of the COVID-19 pandemic and geopolitical upheavals in the world. Two-way trade was valued at 165.8 billion USD in 2021, up 24.6% from the previous year.

In the January-October period, 125,800 businesses were established with total registered capital of VND1,379 trillion and 835,000 employees, according to the General Statistics Office. Compared to the same period last year, the number of businesses rose 34.3%, capital increased 5.7% and employment increased 18%.

Although the total export value in the first three quarters of the year increased robustly and resulted in a high trade surplus, many of Vietnam’s exports are forecast to face unpredictable challenges in the coming time.

The Small and Medium Enterprises Support Programme for Digital Transformation (SMEdx) of the Ministry of Information and Communications has reached about 490,000 SMEs by the end of last month, accounting for 61 per cent of the total number of enterprises nationwide, achieving an average growth rate of 20 per cent per month.

The Vietnamese logistics sector is eyeing the urgent need for renovation, overall solutions and vision as well as new development orientations to catch up with the global trend, creating a breakthrough for the country’s socio-economic recovery and development, according to experts.

Foreign capital inflows fell whereas disbursed capital rose in the first 10 months of 2022, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Implementing the investment promotion program in 2022, within the framework of the business trip to Singapore and Malaysia, on the morning of October 25, with the chairmanship of the Chairman of the Provincial People's Committee Le Duy Thanh, the Vinh Phuc delegation held a conference to promote investment in Singapore.

1. Overseas remittances to HCM City reach $4.78 billion in nine months
2. Liquidity less abundant, Techcombank's CASA declines
3. Exports of Vietnam's key items slump in September
4. Draft code allows third parties to collect, use consumer info
5. Minister presents draft amended Law on Electronic Transactions
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