Business News

Vietnamese Minister of Industry and Trade Tran Tuan Anh and U.S. Trade Representative Robert Lighthizer have discussed economic and trade issues between the two countries over the phone.

Vietnam has been successful in controlling COVID-19 in 2020 and is likely to keep the situation contained next year, said Joseph Incalcaterra, chief economist for ASEAN at the HSBC Global Research, on an article recently published on www.dailymirror.uk.

As the new Law on Enterprises comes with comprehensive adjustments to the issuance of shares, preferential rights for existing shareholders, and simplifies participation of foreign players in the market, experts predict a much more dynamic business environment in the years to come.

From January 1, 2021, goods for temporary import for re-export and transit are imported or re-exported out of Viet Nam via terrestrial border, the import or re-export must be implemented at international border checkpoints or primary border checkpoints (bilateral border checkpoints).

Although many forecasts said that inflation would be controlled at less than four per cent this year, economists recommended it was still important to pay attention to inflationary pressures.

The Vietnamese Government has just issued two resolutions on major socio-economic targets for 2021 and enhancing business environment and national competitiveness, on the heels of a successful 2020 despite the impacts of the COVID-19 pandemic.

The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.

In 2020, total trade volume was estimated at US$543.9 billion, up 5.1% against the previous year. Of the figure, export turnover rose 6.5% to US$281.5 billion while import value increased by 3.6% to US$262.4 billion.