Business News

“Vietnam’s economic fundamentals remain robust. The country has been one of the world’s best-performing economies during the pandemic; that said, we are closely watching the domestic COVID-19 situation,” said Tim Leelahaphan, economist for Thailand and Vietnam, Standard Chartered, in the bank’s recent Global Research report entitled “Vietnam – Strong performance continues this year”.

With COVID-19 raging, the Regent Garment Factory Ltd., a subsidiary of Hong Kong (China)’s Crystal International Group Limited, still submitted a request to the northern province of Hai Duong to open a new 35 million USD garment factory in the locality. The request was approved last week.

Vietnamese businesses will weaken over time if the COVID-19 pandemic persists. Therefore, it is necessary to have an immediate solution to support businesses to restore production and business.

Despite the COVID-19 pandemic, Viet Nam's industrial production in first five months of 2021 increased by 9.9 percent compared to the same period last year, according to the General Statistics Office.

Fruit, vegetable export of Vietnam reached 1.35 billion USD in the first four months of this year.

Investors' trust in the local businesses climate and support from authorities for enterprises have helped the southern province of Đồng Nai almost reach its foreign direct investment (FDI) target for the year.

Nguyễn Duy Kiên, from the Department of Markets for Asia and Africa, MoIT said although Việt Nam's exports increased sharply in recent years, they still accounted for a very small proportion of Japan's total imports, adding Japan is the country's third-largest export market, after China and the US.

Foreign-invested Polytex Far Eastern (Vietnam) Co., Ltd., a member of Far Eastern Group, has been greenlit to pour an additional $610 million into its project at Bau Bang Industrial Zone (IZ) to expand its production of polyester synthetic fibres and spinning products.