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<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/13/09/fdi20241213090407.jpg?rt=20241213090408" alt="FDI remains vital contributor to boost economic growth. - Illustrative image (Photo: VNA)"></figure></td></tr><tr><td>FDI remains vital contributor to boost economic growth. - Illustrative image (Photo: VNA)</td></tr></tbody></table></figure>This area has emerged as a notable highlight, promising to make an important contribution to expanding the economic growth rate by above 7% as targeted for this year. It is expected to set the stage for realising growth objectives outlined for 2025.Foreign investors poured nearly 4.12 billion USD into Vietnam in November this year. This lifted the total registered FDI in the past 11 months, including new and additional investments, and capital contributions via share purchases, to nearly 31.4 billion USD, marking a year-on-year increase of 1%.In the January-November period, a total of 21.68 billion USD was disbursed, up 7.1% against the same period last year. Foreign investors invested in 18 out of 21 sectors of the national economy, with the processing and manufacturing industry leading the way.The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported that foreign investment capital has continued to flow into localities with advantages in attracting FDI, including Bac Ninh, Quang Ninh, Ho Chi Minh City, Hai Phong, Hanoi, Binh Duong, Ba Ria – Vung Tau, Dong Nai, Nghe An and Bac Giang. These localities accounted for 79.6% of the total number of new projects and 69.4% of the total registered investment capital nationwide over the last 11 months.Notably, the northern province of Bac Ninh has emerged as a prominent destination for semiconductor enterprises, with many large-scale projects.The provincial authorities have signed a cooperation agreement with Samsung Display to develop a project worth 1.8 billion USD. As a result, in the first 11 months of the year, Bac Ninh led the country in attracting FDI, with total registered investment capital reaching nearly 5.04 billion USD, accounting for 16% of the nation’s total investment, and more than tripling the same period last year.The Global Semiconductor Alliance (SEMI) has predicted that Vietnam's semiconductor market is expected to reach 7.01 billion USD by 2028, with an average annual growth of approximately 6.69% during the 2023–2028 period.Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham) stated that Vietnam is among the countries with significant opportunities to develop the semiconductor industry. Therefore, large corporations of the Republic of Korea (RoK) are actively exploring opportunities to expand semiconductor supply chains in Vietnam.Nguyen Van Toan, Vice President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), believed that the trend of foreign investors pouring capital into the semiconductor and electronics industries in recent times is positive.Particularly, Jensen Huang, Founder and CEO of NVIDIA, recently visited Vietnam for the second time. NVIDIA has partnered with Vietnam to establish an Artificial Intelligence (AI) research and development centre and an AI data centre in the country.Economic experts said Vietnam is currently the most open economy in the Southeast Asian region, just behind Singapore. Meanwhile, the Vietnamese Government continues to focus on reforms, international integration, and sustained efforts to effectively attract sustainable FDI flows./.

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

FDI remains vital contributor to boost economic growth

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/9/1-16492434459831768854588-1649256715140-16492567194591166369909-17337130231811916641406.jpg" alt="Personal income tax revenues exceed full year's target in 11M- Ảnh 1."></figure>In the first 11 months, the total State budget revenue reached VND1.8 quadrillion (US$71.2 billion), exceeding the forecast by 6.3 percent and marking a 16.1 per cent increase from last year.Meanwhile, Government spending across the last 11 months was estimated to reach 73.6 percent of the forecast, reflecting a 4.7 percent increase compared to the same period in 2023.Last year, total personal income tax valued at VND147,113 billion, making up 9 percent of total State budget revenue.Major tax types in Viet Nam include personal income tax, corporate income tax, value-added tax, environmental protection tax, import and export duties, special consumption tax./.

As of late November, personal income tax revenues reached around VND170 trillion (US$7.3 billion), surpassing full year's forecast by 6.9 percent, according to the General Department of Taxation.

Personal income tax revenues exceed full year's target in 11M

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/06/11/ven20241206115157.jpg?rt=20241206115159" alt="In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles"></figure></td></tr><tr><td>In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles</td></tr></tbody></table></figure>In 2023, according to data from the Vietnam Automobile Manufacturers’ Association (VAMA), approximately 7 out of 10 cars sold in the domestic market were assembled in Vietnam, and this ratio continues to rise in 2024. The localization rate of passenger cars has increased from 10-14 percent to 20-30 percent.For instance, Truong Hai Auto Corporation (Thaco) has achieved a localization rate of over 60 percent for buses, 40 percent for trucks, and an average of 25 percent for passenger cars, with some passenger car models exceeding 40 percent. These figures meet the Regional Value Content (RVC) criteria to qualify for a zero percent preferential import tariff under the ASEAN Trade in Goods Agreement (ATIGA).Hyundai Thanh Cong Vietnam (TC Motor) produces the Palisade model at its Ninh Binh Plant No.2 with an RVC rate exceeding 40 percent, qualifying for tariff preferences under the ASEAN Free Trade Area (AFTA). This provides a significant competitive advantage for TC Motor’s exports to international markets.Similarly, VinFast, after a short period of investment in electric vehicle production, has established a strong foothold in Vietnam’s “green vehicle” market and expanded its reach to international markets.It can be said that the Vietnamese automotive industry is currently experiencing robust growth with the participation of major brands, such as Toyota, Hyundai, VinFast, Ford, and Honda. In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles, maintaining steady growth over the years. However, low localization rate remains one of the industry’s biggest weaknesses.To join the global supply chain, the Vietnamese automotive industry should take a comprehensive set of solutions. First and foremost, increasing the localization rate is a critical task. The Government should encourage domestic enterprises to invest in component manufacturing and facilitate technology transfer from international partners.Specialized industrial parks for supporting industries need to be established to create a complete manufacturing ecosystem. At the same time, focus should be placed on training a high-quality workforce. Collaboration with international organizations and universities to train skilled engineers and technical workers will enhance the industry’s competitiveness.In the long term, promoting the development of electric vehicles should be a top priority. Developing tax incentive policies and providing financial support for electric vehicle manufacturers and charging stations is essential to align with the global green transition trend.Vietnam also needs to strengthen trade promotion and international cooperation to expand the export market for cars and components. Leveraging free trade agreements, such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will help the automotive supporting industry access discerning markets like Europe and Japan./.Thanh Binh

In recent years, Vietnam’s automotive industry has experienced positive growth, aiming not only to meet domestic demand, but also to establish its position in the international market.

Vietnam’s automotive industry seizes golden opportunities from global supply chain

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/720241128163552.png?rt=20241128163552" alt="Vietnamese and Chinese businesses sign cooperation agreement to promote tourism during the Magnificent Guangxi event on November 27 in Hà Nội. Photo of Kim Liên Travel"></figure></td></tr><tr><td>Vietnamese and Chinese businesses sign cooperation agreement to promote tourism during the Magnificent Guangxi event on November 27 in Hà Nội. Photo of Kim Liên Travel</td></tr></tbody></table></figure>HÀ NỘI - The unique culture and beautiful nature of Guangxi Province has been showcased in Việt Nam in an effort to boost tourism between the two countries.A culture and tourism exchange conference, on November 27 in Hà Nội, entitled Magnificent Guangxi, saw leaders of the Vietnamese Ministry of Culture, Sports and Tourism, the Việt Nam National Authority of Tourism, the Chinese Embassy in Việt Nam and the two sides' tourism agencies unite in efforts to increase cooperation.Pundits predicted that the 2024 - 2025 season would be the year of inbound tourism boom in China, home to many beautiful landscapes and ready to welcome international visitors, including Vietnamese.Speaking at the event, Chen Yijun, member of the standing board of the Guangxi Province’s Party Committee and head of the committee’s publicity department, said: “Việt Nam and China has a long-standing and strong relationship."Under the leadership of the Party and State of the two countries, that relationship is becoming increasingly closer. Today's event is expected to realise the two countries' policies and deepen that relationship."Chen said Việt Nam and China had many similarities in terms of culture, beautiful natural landscapes and shared a rich potential for tourism development.In 2025, the two countries will celebrate the 75th anniversary of establishing diplomatic relations, a perfect time to strengthen exchanges and cooperation in cross-border tourism border culture, and continue to deepen cultural and tourism cooperation, he said.Recently, the waterfall tourist landscape areas -- Bản Giốc (Việt Nam) and Detian (China) - a cross-border tourism and cooperation zone was officially launched, one year after it had been successfully piloted.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/820241128163634.jpg?rt=20241128163635" alt="Bản Giốc (Việt Nam) and Detian (China) Waterfall site is one of favourite destinations of border-tourism between Việt Nam and China. VNA/VNS Photo"></figure></td></tr><tr><td>Bản Giốc (Việt Nam) and Detian (China) Waterfall site is one of favourite destinations of border-tourism between Việt Nam and China. VNA/VNS Photo</td></tr></tbody></table></figure>The Beihai - Hạ Long sea tourism route linking Guangxi and Quảng Ninh Province was also opened earlier this month.“These are very favourable conditions for the two countries to cooperate and develop tourism, especially tourism in border areas. In 2024, about 800,000 tourists have visited Guangxi, among them were 80,000 Vietnamese," said Chen.She also expected that Việt Nam and China continued to cooperate and exploit tourism across other types of travel, such as caravan tourism, resort and eco tourism and cultural tourism.Minister of the Chinese Embassy in Việt Nam, Wang Qun, said Việt Nam - China relations were developing more and more stably. Guangxi, as an important bridge and gateway between China and ASEAN, maximised its geographical advantage of being adjacent to the sea and land with Việt Nam.The province had successfully exploited its rich and valuable natural resources and diverse culture and promoted extensive exchanges and cooperation with Vietnamese localities.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/920241128163717.png?rt=20241128163717" alt="Guangxi artists perform a traditional dance at the Magnificent Guangxi event. Photo baovanhoa,vn"></figure></td></tr><tr><td>Guangxi artists perform a traditional dance at the Magnificent Guangxi event. Photo baovanhoa,vn</td></tr></tbody></table></figure>Humanistic exchanges between Guangxi and Việt Nam reaped many positive results, especially in terms of cross-border tourism.He promised that the Chinese Embassy in Việt Nam would continue to support exchange and cooperation activities between the two countries across different fields, including culture and tourism.He hoped that this event would be a motivation for the culture and tourism cooperation development between two countries, ensuring the stably and long-term comprehensive strategic partnership.At the conference, Deputy Minister of Culture, Sports and Tourism Hồ An Phong affirmed that cultural exchange and tourism cooperation between Việt Nam and China was among activities of a relationship which was rich in tradition. It was an objective need and a top priority for Việt Nam and this event carried important meaning, contributing to further promoting cultural and tourism cooperation between two sides.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/1020241128163752.png?rt=20241128163753" alt="Deputy Minister of Culture, Sports and Tourism Hồ An Phong speaks at the event. Photo of Kim Liên Travel"></figure></td></tr><tr><td>Deputy Minister of Culture, Sports and Tourism Hồ An Phong speaks at the event. Photo of Kim Liên Travel</td></tr></tbody></table></figure>He said the Vietnamese ministry was ready work with the Chinese Ministry of Culture and Tourism and the Guangxi Department of Culture and Tourism to closely coordinate and organise the Vietnamese Cultural Week in China, research and build special tourist routes, and actively participate in the China - ASEAN Tourism Fair and help build a community that shared the future of Việt Nam - China.At the event, participants were briefed about the unique resources, charming scenery, long history and diverse culture of Guangxi, where there visitors were offered countless and convenient travel opportunities.It was also a chance for the two sides to witness the signing ceremony of tourism cooperation agreement between companies of the two countries and an announcement of a special route designed specifically for Vietnamese customers.Following the agreement, the two sides would work together to promote cross-border tourism products into each other's markets, exchange tourist sources and expand the market overall."This event gives travel businesses of the two countries the opportunity to learn more about tourism resources of the other side. Việt Nam and China share many similarities in natural resources, beautiful landscape, culture and cuisine but there are also many differences and attractions that are just waiting for us to explore," said Minh Thế Long, deputy general director of the International Kim Liên Travel JointstockHe hoped that moving forward Vietnamese and Chinese travel businesses would continue to increase promotion and work closely together to increase the number of tourists travelling between two countries, setting up a closer relationship between two countries and two peoples.

Unique culture and beautiful nature of Guangxi Province introduced in Việt Nam in an effort to promote tourism between two countries.

Border tourism development enhanced through Magnificent Guangxi event

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/27/16/cong-nghiep-ban-dan20241127164234.jpg?rt=20241127164236" alt="HCM City: Strong leap into semiconductor industry"></figure></td></tr><tr><td>Illustrative image</td></tr></tbody></table></figure>Vietnam is said to have favorable conditions to develop a semiconductor industry ecosystem and become an essential part of the global semiconductor supply chain. The Party and the State are formulating breakthrough mechanisms and policies to promote the growth of this industry.The semiconductor industry is likened to “a grain of rice” as it sustains all other sectors in the technological era, serving as the key to future digital technologies. The semiconductor industry plays an increasingly vital role in the world economy, with the global market size exceeding US$520 billion in 2023 and continuing to grow rapidly.To gradually realize this goal, HCM City recently organized the 2024 International Exhibition for Integrated Circuit and Semiconductor Industry. The event aimed to attract businesses and organizations operating in the semiconductor sector in particular and high-tech industries in general from the city and neighboring provinces to establish a high-tech ecosystem.The exhibition also aimed to provide businesses with opportunities to build partnerships and joint ventures through cooperation with domestic and foreign partners, thereby promoting the development of high-tech industries in HCM City and increasing trade promotion opportunities for Vietnamese enterprises.The exhibition not only focused on advanced semiconductor technologies, but also expanded into related fields, such as optoelectronics, robotics, smart factories, and AI applications in manufacturing. This event is part of Vietnam’s semiconductor industry development strategy for the 2024-2030 period, aiming to attract investment, develop human resources, and build infrastructure to support digital transformation and reduce dependence on foreign technologies.According to the leaders of the municipal People’s Committee, HCM City is focusing on developing high-tech industries, innovation, regional connectivity, and transforming production towards automation, and using green and clean energy for sustainable development. The city is also implementing new investment attraction policies to encourage the shift from traditional manufacturing models to smart factories.At the same time, the city is implementing policies offering 100- percent interest rate support and funding assistance amounting to VND200 billion. These policies enable businesses to invest in innovation and shift to smart manufacturing in order to keep pace with current economic development trends.“Recently, HCM City has provided favorable conditions for industrial enterprises to connect with multinational corporations to receive technology transfer and production management experience. This will help domestic enterprises gradually modernize production and prepare for their participation in global supply chains. The city will accompany businesses in technological innovation and production expansion,” affirmed the leaders of HCM City.Thanh Thao

Ho Chi Minh (HCM) City aims to become a smart city by 2030, identifying the semiconductor industry as the core in the Fourth Industrial Revolution.

HCM City: Strong leap into semiconductor industry

<figure class="image"><img src="https://api.orangemedia.com.vn/images/image_20241129012940.png"></figure>According to the report, the number of Vietnamese students at U.S. universities and colleges continues to grow, reaching 22,066 students in academic year 2023–2024.Nearly 50 percent of the Vietnamese students in the U.S. choose to study in science, technology, engineering, and mathematics (STEM) fields, contributing to Viet Nam's goals of strengthening workforce development in high-tech industries.U.S. Secretary of State Antony Blinken emphasized the significance of this contribution when he said, "International exchanges build new bonds that help us to collaborate on critical issues."As part of efforts to implement the Comprehensive Strategic Partnership as well as a new Memorandum of Cooperation between the U.S. Department of State and Ministry of Education and Training, the U.S. Mission to Viet Nam sponsored an exchange program for 18 higher education stakeholders on improving technical training.The mission has expanded English language programs and STEM education activities for Vietnamese youth, launched the Fulbright Visiting Researcher program for science and technology, and opened more Fulbright scholarship programs to science fields.The U.S. Mission to Viet Nam is dedicated to bringing a wider range of U.S. higher education institutions to Viet Nam and expanding higher education partnerships through dedicated workshops, outreach, and visits by representatives from U.S. higher education institutions.The IIE is one of the world’s most experienced global higher education and professional exchange agencies. An independent, not-for-profit organization founded in 1919, IIE is a resource for students, educators, universities, foundations, and governments worldwide./.&nbsp;

Viet Nam leads ASEAN countries in the number of students studying in the U.S., a report released by the Institute of International Education (IIE) shows.

Viet Nam leads ASEAN in number of students studying in U.S.

<figure class="image"><img src="https://api.orangemedia.com.vn/images/image_20241122013227.png"></figure>The move aims to realize the National Strategy for digital economy and digital society development through 2025, with an orientation towards 2030.The plans highlights the importance of developing information and communication technology industry as a foundation to promote digital economy.The Government targets to promote the readiness, integration and sharing of high-quality databases; stimulate digital platform based consumption and digital governance at central and local levels.Under the National Strategy approved in 2022, the Government targets to raise the share of digital economy to GDP to 20 percent and its proportion in each industry to at least 10 percent by 2025.The proportion of e-commerce in total retail sales is expected to reach over 10 per cent, the rate of enterprises using e-contracts over 80 per cent, the rate of small and medium-sized enterprises (SMEs) using digital platforms over 50 per cent, and the percentage of digital economy workers over 2 per cent of the workforce.Viet Nam's digital economy is projected to post a compound annual growth rate (CAGR) of 16 percent, reaching US$36 billion in 2024, with e-commerce and online travel as the primary growth drivers, according to the 9th edition of the e-Conomy SEA report "Profits on the Rise, Harnessing SEA's Advantage" released by Google, Temasek, and Bain &amp; Company./.

Standing Deputy Prime Minister Truong Hoa Binh has signed a decision issuing an action plan on digital economy development for 2024-2025.

Gov't issues action plan on digital economy development for 2024-2025

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/20/15/tra-fish-273520241120153547.jpg?rt=20241120153548" alt="Tra fish processing (Photo: VNA)"></figure></td></tr><tr><td>Tra fish processing (Photo: VNA)</td></tr></tbody></table></figure>The sector is forecast to complete the export target of over 2 billion USD this year, contributing to bringing the export turnover of aquatic exports to surpass 10 billion USD as set out by the Ministry of Agriculture and Rural Development in early 2024.At present, Vietnamese tra fish has been available in over 150 markets, enduring many ups and downs, but it has remained resilient, thanks to the efforts of processing and export businesses.According to To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), greening the entire production, processing, and consumption chain of agricultural products, including tra fish, is a requirement of the European market. However, this is also a global trend, as countries aim to protect the global environment and reduce emissions in production sectors. This work has been discussed within the industry for many years. However, the preparation for this shift has been relatively slow.According to Tran Dinh Luan, Director General of the Directorate of Fisheries, the agency has guided units to invest in technology for tra fish breeding, with an aim to ensure that the industry can meet the market demand for reduced emissions throughout the production and processing process in the near future. This is also part of its preparation efforts for next year.The directorate is also providing technical guidance on tra fish care using probiotics to treat emissions directly at the farm. By applying technology in farming to reduce energy consumption and water usage, the industry aims to demonstrate the economic effectiveness of sustainable production and processing. Regarding capital requirements, the government has implemented several policies to help enterprises access funding at favourable interest rates. Specifically, the directorate has introduced small projects and initiatives focused on energy reduction and production cost savings, encouraging businesses to adopt green production and processing practices within the tra fish supply chain, Luan added.Deputy Minister of Agriculture and Rural Development Phung Duc Tien urged ministries, sectors, and localities to develop industrial-scale farming with a focus on biosafety, tight control over antibiotic use, green production, the formation of a supply chain, and the development of potential markets./.

Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.

Tra fish sector aiming for production, processing greening for sustainable development

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/344443456812359680/2024/11/18/san-bay-quoc-te-cat-bi-17319171501291446541059.jpg" alt="Construction begins on cargo terminal at Cat Bi International Airport- Ảnh 1."></figure>Cat Bi International Airport in Hai PhongIn the initial phase, the terminal is designed to handle 100,000 tons of cargo per year, slated for completion and operation by 2026.Its capacity will be expanded to 250,000 tons of cargo in the following phase.The airport is a key gateway in Viet Nam, playing a vital role in the socio-economic development of the city, the northern coastal region, and the Red River Delta, said ACV Deputy General-Director Tran Anh Vu.&nbsp;In recent years, Hai Phong has seen rapid growth and a significant number of investors. Its increasing demand for the transport of high-tech goods by air highlights the urgent need for enhanced aviation logistics services, Tran added.At present, the airport handles around two million passengers annually, prompting the need for further upgrade.&nbsp;To meet growing travel demand, the Ministry of Transport on July 15 approved a master plan for the development of Cai Bi International Airport in the 2021-2030 period, vision to 2050.Under the plan, another passenger terminal will be built at the Hai Phong-based airport to increase its annual capacity to 13 million passengers by the end of this decade and 18 million passengers by 2050.Cat Bi airport has been one of the five busiest airports in Viet Nam to apply non-stop toll collection since this May./.

The Viet Nam Airports Corporation (ACV) on Monday began construction of a cargo terminal at the Cat Bi International Airport in Hai Phong city.

Construction begins on cargo terminal at Cat Bi International Airport

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/14/17/6a20241114170314.jpg?rt=20241114170316" alt="With an increase in import orders, especially during the coming year-end shopping season, garment makers expect to meet the US$44 billion export earnings target this year"></figure></td></tr><tr><td>With an increase in import orders, especially during the coming year-end shopping season, garment makers expect to meet the US$44 billion export earnings target this year</td></tr></tbody></table></figure>According to the Vietnam Textile and Apparel Association (VITAS), Vietnam raked in US$36.11 billion from garment and textile exports over the past 10 months of the year, representing a 9.86% increase year on year. October alone saw garment and textile export earnings rise 10.7% month on month to US$3.86 billion.Experts attributed the high growth to a shift in orders from China, Bangladesh, and Myanmar to Vietnam, decreasing inventory in key markets such as the US, Europe, and Japan, and an upward trend in consumer demand and orders from partners.Indeed, according to VITAS chairman Vu Duc Giang, Vietnam’s textile exports continue to improve toward the year-end, with growth expanding compared to earlier months. Key export markets, including the US, EU, Japan, and China, have maintained steady growth, while ASEAN, Russia, and Canada have emerged as promising markets for boosting production and exports.In addition, the ongoing decline in freight rates is supporting export growth. Furthermore, easing interest rates in the US and Europe is anticipated to stimulate year-end shopping demand.Vietnam’s textile and garment exports have high expectations for the year-end shopping season, especially with increased demand in major markets like the US and Europe. The holiday season, including Black Friday, Christmas, and New Year, typically boosts demand for textile products, driving revenue growth for export companies.In the long term, when interest rate cuts in major markets positively impact the economy, leading to stable employment and purchasing power, unit prices are expected to improve even further, said experts.Le Tien Truong, Chairman of the Board of Directors of the Vietnam National Textile and Garment Group (Vinatex), noted that Vietnamese garment makers are benefitting from improved consumer demand in key textile export markets and the political instability in competing countries like Bangladesh and Myanmar. Many garment companies have already secured orders through the second quarter, and even into the third quarter of 2025.“It’s expected that garment makers will benefit as US consumer demand improves during the coming holiday shopping season. Demand and unit prices will only truly improve starting in 2025 in an optimistic scenario. With such favorable factors, Vietnam’s textile industry faces significant market opportunities and is poised to consolidate its position as a bright spot on the global textile map,” said Truong.Despite optimism, Vietnam’s garment industry still faces significant competitive pressures when exporting to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets. Some countries benefit from tariff preferences as developing economies, while Vietnam has higher labour costs and pressures related to social insurance, health care, and the need to fully implement commitments under new-generation free trade agreements.However, comparing Vietnam’s competitive advantages, Vietnamese textile companies benefit from the country’s strategic location, large port system, and the ability to produce a wide range of high-value products such as suits, winter coats, swimwear, and more, with diverse designs and fast delivery.Vietnam’s textile products have been exported to more than 100 countries and territories worldwide. With the year-end shopping season approaching, garment makers are trying to diversify customer groups and product offerings, introduce new products with innovative materials and designs, and meet the stringent standards of their partners, so as to achieve the export target of US$44 billion this year./.

Despite ongoing challenges, Vietnamese garment makers are optimistic about the coming year-end shopping season, seeing it as an opportunity to meet the export earnings target this year.

Garment makers pin hopes on coming year-end shopping season

This initiative is particularly focused on the cities of Da Nang and Ho Chi Minh City, which are poised to become key players in the Southeast Asian financial landscape. The collaboration encompasses various sectors, including finance, technology and education, aiming to enhance Vietnam's capabilities in these areas.The relationship between the UK and Vietnam has evolved dramatically over recent years.The UK is recognised as the second-largest exporter of financial services globally, with exports reaching 88.7 billion GBP (nearly 114.6 billion USD) in 2022. London serves as a global financial centre, hosting 170 banks and a multitude of fintech companies.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/13/17/in_article/q-2-hcm20241113171236.jpg?rt=20241113171236" alt="UK stands ready to help Vietnam build international financial hub"></figure></td></tr><tr><td>A view of HCM City's District 2 with Hanoi Highway and Metro Line 1 Ben Thanh - Suoi Tien. District 2 is undergoing development to emerge as a financial hub. (Photo: VNA)</td></tr></tbody></table></figure>This backdrop provides a solid foundation for collaboration as Vietnam seeks to develop its own financial sector.In October 2023, the government established a Steering Committee to develop the Regional and International Financial Centre Project, which is led by Prime Minister Pham Minh Chinh. The project aims to position Da Nang as a regional financial centre and HCM City as an international financial hub.Meanwhile, Da Nang has set ambitious goals to become a leading economic centre in Southeast Asia by 2030. The city aims to focus on two primary sectors: semiconductors and artificial intelligence (AI), alongside developing its international financial hub.This vision is reinforced by the National Assembly’s Resolution No. 136/2024/QH15, which outlines specific policies to attract strategic investors and enhance financial management practices within the city.Ho Ky Minh, Vice Chairman of the Da Nang People's Committee, stressed the need for the UK’s support in drafting legal frameworks that would facilitate the establishment of this financial centre.At a meeting with Alexandra Smith, the newly appointed British Consul General in HCM City, in late October, Minh expressed his hope for collaboration with UK consular representatives to promote Da Nang as an attractive investment destination."In the near future, as authorities at all levels come to a consensus on the implementation of international financial centres in HCM City and Da Nang, we eagerly anticipate the support of the British Consulate General in HCM City in formulating the National Assembly's resolution on related legal issues," Minh said.Meanwhile, Alexandra said that the UK was eager to actively collaborate and assist Da Nang in advancing emerging areas such as AI, digital transformation and establishing an international financial hub.In September, Michael Mainelli, the Lord Mayor of London, who has a financial background, made a historic visit to Vietnam, the first Lord Mayor of the City of London to visit the country in the past decade, underscoring the UK's commitment to supporting Vietnam’s ambitions in establishing an international financial hub.During this visit, he engaged with key Vietnamese officials and stakeholders to share insights and strategies for building a robust financial infrastructure.The Mayor also looked forward to the exciting upcoming collaboration between Vietnam’s new international financial hub and the City of London's Financial District.The partnership between the UK and Vietnam spans several key areas.In terms of financial services, the UK's expertise can be invaluable for Vietnam as it seeks to modernise its financial systems.The UK's experience in regulatory frameworks and market operations can provide crucial guidance for Vietnamese policymakers. Initiatives may include capacity-building training programmes for Vietnamese professionals in finance and investment management, as well as assistance in developing legal structures that support foreign investment and ensure market stability.Technology integration into finance is vital for creating a competitive international hub. The UK is home to numerous fintech companies that can share their knowledge with Vietnamese counterparts.Potential collaborations could involve leveraging AI technologies to enhance service delivery in finance and supporting Vietnamese banks and financial institutions in adopting digital solutions to improve efficiency.Infrastructure development is another critical area where UK assistance can play a significant role. Infrastructure is essential for establishing a successful financial hub, and the UK can aid Vietnam in developing projects such as transportation networks that enhance connectivity through investments in urban rail systems and airports.Additionally, collaboration on smart city initiatives will promote sustainable urban development aligned with global standards.As Vietnam aims for net-zero emissions by 2050, green finance will be central to its economic strategy. The UK's commitment to green initiatives can significantly benefit Vietnam’s transition towards sustainable practices.This includes supporting projects that focus on offshore wind energy and developing green bonds and other financial instruments that promote environmental sustainability.Opportunities for UK BusinessesUK businesses stand to gain significantly from engaging with Vietnam’s burgeoning economy. As trade relations continue to strengthen, evidenced by bilateral trade doubling from 3 billion GBP to 6 billion GBP over the past decade, opportunities abound across various sectors.Companies like Standard Chartered have already expressed enthusiasm about contributing to this partnership by facilitating investments and sharing expertise in areas such as green finance and digital innovation.Furthermore, with the UK's impending accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), there will be enhanced access for UK services in Vietnam, fostering greater collaboration.

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

UK stands ready to help Vietnam build international financial hub

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/12/17/14a20241112170952.jpg?rt=20241112170953" alt="An overview of the 2023 Vietnam International Digital Week's opening ceremony. (Photo: VNA)"></figure></td></tr><tr><td>An overview of the 2023 Vietnam International Digital Week's opening ceremony. (Photo: VNA)</td></tr></tbody></table></figure>Quang Ninh - The 3rd Vietnam International Digital Week will take place in Ha Long city, the northern province of Quang Ninh, from November 19-22 for the second consecutive year.It will provide an opportunity for organisations and businesses to exchange ideas and connect with both domestic and international management agencies, associations, and enterprises on information technology development, digital transformation, and digital infrastructure development.It will also serve as a platform to learn from and share experiences in making development, technology, and human resources policies and strategies; establish partnerships; and propose solutions to address current challenges.Additionally, the event will create a chance to showcase products and services, attract investment, and establish cooperation between Quang Ninh and technology partners both inside and outside Vietnam.A variety of activities will take place within the framework of the digital week, including a ministerial roundtable, the fourth ASEAN 5G Conference, an international forum on digital strategy, policy, and AI governance with Australia, the ASEAN Senior Officials’ Meeting on Information, and a workshop on policy and regulation recommendations to promote trusted services in ASEAN.The event will feature an international digital investment forum – an opportunity to attract foreign investment in ICT in provinces, cities, and industrial zones; the Organisation for Economic Cooperation and Development (OECD)’s conference on human resources for digital transformation and digital economy development; the Vietnam-ITU conference on AI governance and applications in industry; the Vietnam-Republic of Korea Digital Transformation Forum; and the Southeast Asia Hackathon competition, among others./.

The 3rd Vietnam International Digital Week will take place in Ha Long city, the northern province of Quang Ninh, from November 19-22 for the second consecutive year.

Quang Ninh to host 3rd Vietnam Int'l Digital Week next week

<table align="center"><tbody><tr><td style="text-align:justify;"><img alt="Vietnam remains bright spot in foreign investment attraction in ASEAN" src="https://ven.congthuong.vn/stores/news_dataimages/2024/092024/20/15/dau-tu20240920152207.jpg?rt=20240920152208" title="Vietnam remains bright spot in foreign investment attraction in ASEAN"/></td></tr></tbody></table>In fact, Chinese manufacturers are themselves expanding their presence into Southeast Asia. A third of the region’s manufacturing FDI last year came from China, which was more than three times the amount from the United States, the Republic of Korea (RoK), or Japan, according to fDi Markets.In Vietnam alone, leading Chinese manufacturing firms have ramped up their investments in 2023, with almost 20% of newly registered FDI from the Asian powerhouse.Japan and the Republic of Korea are both traditionally major investors in the Vietnamese market, but China has been expanding its FDI footprint quickly in the country. Indeed, the northern neighbour accounted for almost half of Vietnam’s new FDI inflows in 2023.Furthermore, HSBC experts recorded an 80% increase in terms of the number of Chinese corporates entering new Southeast Asian markets in 2023 compared to 2022. Among Chinese clients, there is also a strong interest in expanding into Singapore, followed by Vietnam, Thailand, Malaysia, and Indonesia.For the Vietnamese side, the northern neighbour is already one of its main trading partners, with bilateral trade exceeding US4106 billion, driven by electronics, textiles, and machinery. Within 10 years since 2014, the trade relationship between both sides has risen to be one of top 20 corridors globally. Regional agreements like the Regional Comprehensive Economic Partnership (RCEP) mean that joint economic ties between will likely continue to strengthen, with a growing emphasis placed on the digital economy.According to the e-Conomy SEA 2023 report, Vietnam was the fastest-growing digital economy in ASEAN after recording impressive growth of 20%. Measured by gross merchandise value, the country has the potential to become the second-largest digital market in the region by 2030, just after Indonesia.

Skilled workforce, a growing digital economy, competitive wages, and a sizeable regional market were among ASEAN’s top attractions to foreign investors, with Vietnam’s economic resilience being ranked foremost in attracting international firms, according to details given by HSBC experts.

Vietnam remains bright spot in foreign investment attraction in ASEAN

<figure><a href="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/17/dautu-1726543472863965502598.jpg" rel="noreferrer noopener" target="_blank" title=""><img alt="Significant shift in Viet Nam’s overseas investment - Ảnh 1." id="img_760341220002992128" src="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/17/dautu-1726543472863965502598.jpg" title="Significant shift in Viet Nam’s overseas investment - Ảnh 1."/></a></figure>Vietnamese investors poured US$147.3 million into 14 sectors abroad over the last eight months of this year.Data of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed the amount was channeled in 75 new projects.Among the 25 countries and territories receiving Vietnamese investments during the period, the Netherlands took the lead with US$54.6 million, making up 37.1 per cent. It was followed by Laos (US$37.8 million), the United Kingdom (US$19.8 million), and the U.S. (US$18.6 million).Out of 14 sectors Vietnamese investors poured money into, the mining sector topped the list with US$58.6 million, accounting for 38.9 per cent of the total, followed by processing-manufacturing with US$29.1 million (making up19.7 per cent) and the wholesale and retail sector with US$24.7 million (accounting for 16.8 per cent).In addition to investments in resource-intensive fields like minerals and agriculture, Vietnamese enterprises are also venturing into high-value sectors such as manufacturing, banking, financial services, and high technology. Companies like FPT have achieved notable success in Japan and South Korea.Viet Nam has agreements with nearly 80 countries on investment encouragement and protection and on double taxation avoidance, providing essential safeguards for overseas investments.As of August, Viet Nam had 1,757 active overseas investment projects with combined capital of nearly US$22.26 billion./.

Vietnamese enterprises have expanded their investments beyond Laos and Cambodia to developed nations like the Netherlands, the U.S., and the United Kingdom. This marks a significant shift in recent years.

Significant shift in Viet Nam’s overseas investment

<figure><a href="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/16/p11-thay-anh-chinh-9426-17264596562731512478765.jpg" rel="noreferrer noopener" target="_blank" title="Ho Chi Minh City aspires to become international financial centre"><img alt="Prime Minister leads steering committee for formulating regional, international financial center project - Ảnh 1." id="img_759989669149917184" src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/9/16/p11-thay-anh-chinh-9426-17264596562731512478765.jpg" title="Prime Minister leads steering committee for formulating regional, international financial center project - Ảnh 1."/></a><figcaption>Ho Chi Minh City aspires to become international financial centre</figcaption></figure>Accordingly, Prime Minister Pham Minh Chinh is the head of the body and Minister of Planning and Investment Nguyen Chi Dung is deputy head of the Steering Committee.Members of the steering committee includes Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc, Deputy Minister of Finance Nguyen Duc Chi, Deputy Minister of Industry and Trade Phan Thi Thang, Deputy Minister of National Defence Vu Hai San, Deputy Minister of Public Security Pham The Tung, Deputy Minister of Information and Communications Pham Duc Long, Deputy Minister of Natural Resources and Environment Tran Quy Kien, Deputy Minister of Justice Dang Hoang Oanh, Deputy Governor of the State Bank of Viet Nam Pham Tien Dung, Vice Chairman of the Office of the Government Mai Thi Thu Van.Chairman of the HCMC People's Committee Phan Van Mai and Permanent Vice Chairman of the Da Nang People's Committee Ho Ky Minh are also members of the committee.The steering committee, established on October 6, 2023, is responsible for assisting the Government and Prime Minister in researching, directing and coordinating to address inter-sectoral issues relating to the development of the regional and international financial center project.Under the project, Viet Nam strives to turn the southern Ho Chi Minh City and central Da Nang city into financial centers in the Asia and the world by 2045 in a bid to create a distinct institutional area to attract international financial investors.Viet Nam owns abundant conditions for developing a financial center. Besides maintaining stable macroeconomic and political conditions, the country is located in a favorable geographical area with high connectivity, a different time zone from the 21 largest global financial centers, strategic geopolitical positioning and an improving economic scale and financial market development./.

Prime Minister Pham Minh Chinh on Sunday signed Decision 987/QD-TTg, approving a list of members of the steering committee for formulating regional, international financial center project.

Prime Minister leads steering committee for formulating regional, international financial center project

<table align="center"><tbody><tr><td style="text-align:justify;"><img alt="US Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor (center) speaks at the press briefing in Hanoi (Photo: VNA)" src="https://ven.congthuong.vn/stores/news_dataimages/2024/092024/13/10/18a20240913103917.jpg?rt=20240913103917" title="US Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor (center) speaks at the press briefing in Hanoi (Photo: VNA)"/></td></tr><tr><td style="text-align:center;">US Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor (center) speaks at the press briefing in Hanoi (Photo: VNA)</td></tr></tbody></table>Hanoi - A US trade delegation of 100 participants, including 35 business representatives and officials from the departments of agriculture of nine states, is visiting Vietnam to explore cooperation opportunities between the two countries.This marks the largest-ever agricultural trade mission from the US to Vietnam and is led by Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor, in celebration of the one-year anniversary of the Comprehensive Strategic Partnership between Vietnam and the US.During a press briefing in Hanoi on September 12, Under Secretary Taylor noted that this is her second visit to Vietnam in two years. The mission aims to connect with key importers via business-to-business meetings and to gain insights into local and regional market conditions through site visits and discussions with industry experts and government officials in Hanoi and Ho Chi Minh City.In response to the Vietnam News Agency (VNA) reporter’s question about the significance of the visit for the two countries’ bilateral cooperation, Taylor said: “It really underscores the interest of the US food and agriculture sector in the Vietnamese market.”She continued that Vietnam and the US have complementary agricultural trade, with many fruits that the US exports to Vietnam consist of products that cannot be produced locally, and the same goes for the tropical fruits that Vietnam exports to the US.“And so for all of the interests of our food and agricultural businesses in the Vietnamese market, I think there is equal interest for Vietnamese products in the US market,” she said.Asked about how the US can support Vietnam in developing green and sustainable agriculture, the Under Secretary affirmed that this has long been a priority in the two countries’ relations, both at the national and federal levels, and the two countries have engaged in multiple international forums around climate change resilience.Vietnam is an active participant in the agriculture, food security and climate change (AFC) innovation, and the sustainable productivity growth coalition, she said.“We also have bilateral program going on to help Vietnam’s agricultural sector provide more resiliency. We have a fertilizer right initiative which is focused on efficient fertilizer use and really trying to lower methane emissions, and the project is focused on the Mekong region.”She revealed that during her meeting with Vietnamese government officials today, there is a long list of other areas of cooperation under the climate umbrella that the two countries are going to explore.Sharing more about this, Karen Ross, Secretary of California Department of Food and Agriculture, said the US has enjoyed a long-standing relationship with Vietnam, including the most recently signed Memorandum of Understanding on climate change resilience and smart agriculture.“This gives us the opportunity to create forums, which we can do virtually now, but especially allows us to engage our university, the University of California, which has a number of people here already working on livestock methane reductions," she said, adding that this is one of the examples of how the two sides can bring academia together to extend the knowledge to farmers, with demonstration projects and technical assistance to help all farmers be more successful.According to the Vietnamese Ministry of Agriculture and Rural Development, the US became Vietnam's largest market for agricultural, forestry, and fishery products over the past eight months of 2024.In the reviewed period, the products brought home about 8.58 billion USD from the US market. The figure accounted for 21.4% of Vietnam’s total exports in this sector, marking a 23.5% increase compared to the same period last year./.

A US trade delegation of 100 participants, including 35 business representatives and officials from the departments of agriculture of nine states, is visiting Vietnam to explore cooperation opportunities between the two countries.

Largest US agricultural trade delegation visits Vietnam to explore cooperation opportunities

The Vietnamese Government leader praised effective investment projects by Mitsui &amp; Co in Việt Nam, highlighting their contributions to Việt Nam's socio-economic development and relations between the two countries.<table align="center"><tbody><tr><td style="text-align:justify;"><img alt="PM hosts Japanese multi-industry firm's chairman" src="https://ven.congthuong.vn/stores/news_dataimages/2024/092024/12/15/in_article/pm-vs-ndt-nhat-ban20240912150246.jpg?rt=20240912150247" title="PM hosts Japanese multi-industry firm's chairman"/></td></tr><tr><td style="text-align:justify;">Prime Minister Phạm Minh Chính (R) shakes hands with Chairman of Mitsui &amp; Co., Ltd of Japan Tatsuo Yasunaga. — VNA/VNS Photo</td></tr></tbody></table>Chính reaffirmed the Vietnamese Government's commitment to supporting and creating favourable conditions for Japanese businesses in general and Mitsui &amp; Co in particular to conduct effective and sustainable investment and business activities in Việt Nam based on the principles of "harmonising interests and sharing risks," and "working together, winning together, and benefiting together”.For his part, Yasunaga said as major multi-industry investment, business, and trading conglomerate of Japan, Mitsui has invested 22 projects worth about US$1 billion in Việt Nam, especially in mineral resources, energy, equipment, and textiles. Among these, the Block B gas-electricity project totaled over $700 million.He expressed his hope to continue receiving PM Chính's attention and guidance for the project. He also called for support for expanding Mitsui's investment and business into other areas in Việt Nam, such as farming, processing and export of aquatic products; pelletised wood production and export; as well as human resources training and labour cooperation.The PM appreciated efforts of Mitsui, and its joint venture partners in implementing the gas-electricity project, highlighting its importance to Việt Nam's socio-economic development goals.He committed to supporting Mitsui in successfully collaborating and investing in the project, suggesting Mitsui work with the Việt Nam Oil and Gas Group to speed up the project's implementation, towards extracting the first gas streams by December 31 next year. He said he hopes that Mitsui will co-operate with Vietnamese partners in producing wind turbines and implementing offshore wind projects.Welcoming and encouraging Mitsui to expand its investment in Việt Nam into areas such as aquaculture and aquatic product processing, forestry, biomass energy development, human resources training, and labour cooperation, the PM asked the Japanese firm to invest in building a feed mill, broaden its business activities in Việt Nam in sectors of its strength; collaborate, support and transfer technology and management experience with Vietnamese partners to help them become more deeply involved in regional and global supply chains.The firm should support attracting investment in energy transition in Việt Nam; increase scholarships and partner with educational institutions to train high-quality human resources for the Southeast Asian nation, the leader said.

Prime Minister Phạm Minh Chính urged Mitsui &amp; Co., Ltd of Japan to accelerate the implementation of the Block B gas-electricity project and expand its co-operation and investment in other sectors in Việt Nam, especially offshore wind energy development, during a meeting with its Chairman Tatsuo Yasunaga in Hà Nội on Wednesday.

PM hosts Japanese multi-industry firm's chairman

<figure><figure><a href="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/10/chanhleo-17259388931541246525049.jpg" rel="noreferrer noopener" target="_blank" title=""><img alt="Vietnamese passion fruit licensed for export to Australia- Ảnh 1." id="img_757805429551910912" src="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/10/chanhleo-17259388931541246525049.jpg" title="Vietnamese passion fruit licensed for export to Australia- Ảnh 1."/></a>A ceremony to announce the export of Vietnamese passion fruit to Australia and Australian plum to Viet Nam took place in Ha Noi on September 9.</figure>The event was jointly organized by the Plant Protection Department, under the Ministry of Agriculture and Rural Development (MARD), and the Australian Embassy in Viet Nam.Speaking at the event, head of the Plant Protection Department Huynh Tan Dat said, Vietnamese fruits have been exported to over 60 nations and territories over the world.Viet Nam's fruit export revenue hit US$4.63 billion in the first eight months of 2024, representing an increase of 30.6 percent compared to the same period last year, thanks to the opening of several key markets.According to the MARD, Viet Nam currently has nearly 9,500 hectares of land under passion fruit cultivation, producing nearly 190,000 tonnes annually. Passion fruit is among the 18 fruit varieties with an annual production output exceeding 100,000 tonnes. Notably, 80 percent of the annual harvest is purchased by enterprises for processing and export.Viet Nam ranks among the top 10 largest producers and exporters of passion fruit in the world, after Brazil, Colombia, Ecuador, and Peru.The Vietnamese fruit is being exported to markets with stringent quality, phytosanitary, and food safety requirements, such as France, Germany, the Netherlands, South Korea, China, and Switzerland.Remarkably, Vietnamese passion fruit is available in 20 countries, in many forms such as fresh fruit, frozen fruit, and juice.Australian Ambassador to Viet Nam Andrew Goledzinowski said, in the coming time, the two countries will continue to complete procedures so that Vietnamese grapefruit and Australian blueberries will be available in each side's market.Bilateral trade turnover reached US$13.8 billion in 2023, making Australia the 10th largest trading partner of Viet Nam, while Viet Nam ranks 7th among Australia's largest trading partners./. </figure><ul><li><h4 style="text-align:justify;"><a href="https://en.baochinhphu.vn/viet-nams-exports-to-india-witness-positive-growth-111240828165752873.htm" rel="noreferrer noopener" target="_blank">Viet Nam’s exports to India witness positive growth</a></h4></li><li><h4 style="text-align:justify;"><a href="https://en.baochinhphu.vn/viet-nams-exports-to-russia-up-46-in-7-months-111240822155936789.htm" rel="noreferrer noopener" target="_blank">Viet Nam’s exports to Russia up 46% in 7 months</a></h4></li></ul>Export is a direct motivation with the largest impact on Viet Nam's economic growth now. The improved purchasing power in developed countries has had a noticeable impact on Viet Nam's economy. Exports to the U.S., the European Union (EU), South Korea, and Japan have all bounced back over the recent months of this year.Official statistics showed that trade between the Southeast Asian nation and the rest of the world were estimated at US$70.11 billion in July and US$70.65 billion in August.If the current growth momentum is maintained, this year's import and export value will set a new record, surpassing the US$732 billion mark recorded in 2022. It should be noted that 2022 is a record year for Viet Nam's foreign trade, but no month saw import-export turnover reaching US$70 billion.During January-August, the total export value witnessed a year-on-year increase of 15.8 percent, achieving US$265 billion.Continuing the positive trend in recent months, the nation's import value hit US$246 billion in eight months, up 17.7 percent. Remarkably, Viet Nam spent US$230.95 billion on importing production materials, making up 93.9 percent. In the reviewed period, the country's trade surplus reached US$19.07 billion.Insiders said that with positive economic forecasts from developed markets and increasing imports from the U.S., Viet Nam's exports are expected to exceed US$790 billion by the end of this year.Regarding the structure of exported goods, agricultural products and minerals accounted for only 12 percent while the group of industrial goods made up over 88 percent, said Le Quoc Phuong, deputy head of Viet Nam Industry and Trade Information Center, under the Ministry of Industry and Trade.The increase in exports is mainly attributed to the rise in exports of industrial goods, reflecting the goals set by import-export strategies and plans, he shared.According to the latest report released by the S&amp;P Global, Viet Nam Manufacturing Purchasing Managers' Index (PMI) stood at 52.4 in August, signaling a solid monthly improvement in terms of business conditions midway through the third quarter.The improvement recorded in the health of the sector reflects further rapid increases in output and new orders, with respective rates of expansion remaining sharp despite easing from the particularly elevated rates seen in June and July.Improvements seen in customer demand resulted in growth of new orders, prompting firms to expand production. In some cases, the relative stability of prices helped firms to secure new business, while there were also mentions of improving international demand, and new export orders rose for the fifth month running.Manufacturers remain optimistic that output will increase over the coming year, based on expectations of further improvements in customer demand and new orders, the S&amp;P Global noted.According to the World Bank, Viet Nam's goods and services export value is equivalent to 94 percent of its GDP, ranking 14th globally./.

Passion fruit is the fifth fresh Vietnamese fruit licensed to enter the Australian market, following mango, longan, lychee, and dragon fruit.

Vietnamese passion fruit licensed for export to Australia

Speaker of the New South Wales Legislative Assembly Greg Piper highlighted the immense potential for collaboration between New South Wales and Vietnamese localities, expressing his confidence that the visit would foster cultural and economic exchanges between Vietnam and Australia, and specifically between Vietnamese cities and New South Wales in the near future.<table align="center"><tbody><tr><td style="text-align:justify;"><img alt="NA Vice Chairwoman’s visit fosters ties with Australia" src="https://ven.congthuong.vn/stores/news_dataimages/2024/092024/08/15/in_article/pho-ct-quoc-hoi-2-aus20240908155637.jpg?rt=20240908155637" title="NA Vice Chairwoman’s visit fosters ties with Australia"/></td></tr><tr><td style="text-align:center;">At the working sessions - photo: VNA</td></tr></tbody></table>Thanh underscored New South Wales's pivotal role in expanding cooperation with Vietnamese localities, particularly in key areas. She noted that Ho Chi Minh City, a partner city of New South Wales, could become a pioneer in implementing the Vietnam-Australia comprehensive strategic partnership and Australia's Southeast Asia Economic Strategy to 2040.The Vietnamese NA is committed to creating favourable conditions for Australian firms, including those from New South Wales, to invest and operate effectively, sustainably and stably in Vietnam, she said.The legislator proposed several areas for future cooperation, including trade promotion, information and technology sharing for mineral extraction, coal and liquefied natural gas, business support to leverage free trade agreements, logistics, clean energy, and low carbon emissions. She also recommended effective implementation of the joint declaration on practical actions to combat climate change.Thanh also suggested facilitating the exchange of delegations, including those from the New South Wales Legislative Assembly to the People's Councils of Vietnamese cities and provinces.In a meeting with Deputy President of the New South Wales Legislative Council Rodney John Roberts, Thanh expressed Vietnam's readiness to host delegations from the New South Wales Legislative Council to share experiences with the People's Councils of Vietnamese localities.She sought New South Wales’s expertise and technology in hi-tech agriculture, building value chains for agricultural products, food and beverages within global and regional supply chains, and collaboration in training and investment in Vietnam, particularly in the production of raw materials for pharmaceutical and supplementary food industries.On the occasion, she called on New South Wales authorities to create favourable conditions for the Vietnamese community living and working there, helping them serve as a bridge for the bilateral ties.Roberts, for his part, described people-to-people exchange as a cornerstone of the friendship bonds between the two countries.Agreeing with Thanh’s proposals, he underlined Vietnam's vast and diverse development potential and vowed to soon visit Vietnam in the near future.The same day, Thanh and New South Wales Minister of Trade and Industry, Innovation, Science and Technology, Building, and Corrections Anoulack Chanthivon discussed advancing collaboration in innovation, sci-tech, education, hydrogen energy, finance, investment funds and banking.Regarding education-training, Thanh requested New South Wales to increase scholarships for Vietnamese civil servants, especially those from localities. She also emphasised the need to foster professional exchanges in public management through training courses and workshops on urban management, smart city development and digital transformation; as well as steping up collaboration in vocational education, including the transfer of training courses and establishment of vocational training centres in Vietnam, to develop a quality workforce.New South Wales will continue to focus on investing in education and stays ready to consider cooperation programmes that align with Vietnam's needs, Chanthivon assured.Their discussions covered the priorities of Vietnam and New South Wales in the fields of energy, renewable energy, and just energy transition. They reviewed Vietnam's achievements in these areas and its commitment to reaching net-zero emissions by 2050.Chanthivon welcomed Vietnamese enterprises to invest in New South Wales and expressed his readiness to help them understand the local investment environment, policies and regulations to reinforce bilateral cooperation.In the afternoon, the Vietnamese delegation met with outstanding representatives of Vietnamese community in New South Wales.

National Assembly Vice Chairwoman Nguyen Thi Thanh held working sessions with top officials of Australia’s New South Wales state on September 6-7, helping to strengthen and deepen comprehensive strategic partnership between Vietnam and Australia.

NA Vice Chairwoman’s visit fosters ties with Australia

<figure><a href="https://bcp.cdnchinhphu.vn/344443456812359680/2024/9/6/5803-1725587193-1200x0-1725589189148620494397.png" rel="noreferrer noopener" target="_blank" title=""><img alt="Viet Nam to launch raw materials center for textile and footwear in 2025- Ảnh 1." id="img_756338665351135232" src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/9/6/5803-1725587193-1200x0-1725589189148620494397.png" title="Viet Nam to launch raw materials center for textile and footwear in 2025- Ảnh 1."/></a></figure>The center is expected to help the Southeast Asian country to consolidate its domestic supply chain and reduce sole dependence on imports from other countries, according to Deputy Minister of Industry and Trade Phan Thi Thang.Textile and footwear have long been Viet Nam's key sectors, with annual export turnover increasing by 10 percent, said Pham Anh Tuan, Deputy Director of Industry Department under the Ministry of Industry and Trade.In the first six months this year, the export turnover of the two sectors reached US$30 billion, accounting for 16 percent of the nation's total export value and creating nearly five million jobs.At present, manufacturers still rely on raw materials from foreign countries, especially China, South Korea and other ASEAN Member States.The center will assist businesses in tracing the origins of raw materials, ensuring that all trades operate with high standards and transparency./.

Viet Nam will launch a raw materials center for textile and footwear industry in 2025, official said.

Viet Nam to launch raw materials center for textile and footwear in 2025

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/thuong-mai-dien-tu-2_20240830030503.jpg"></figure>With the goal to be a dedicated consultant for your brand, Orange will answer to all of your questions and issues in the process of online advertising for your product. Each online advertising channel has some fixed effect with your product. There are many online advertising channels such as Google search engine advertising, social media ads (Facebook, Linkedin, Zalo, etc), online newspapers such as VnExpress, Dantri, Thoiluan24h, etc. Depending on the product and your target audience, we will give you the most suitable advertising channel.

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<figure class="image"><img src="https://api.orangemedia.com.vn/images/SEO-Skills_20240830030557.jpg"></figure>SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google became the number one search engine in the world. SEO is the foundation for success. SEO is always a very important part of the campaign to reach customers. Our SEO services always ensure two main factors are high quality and affordable. You just need to come up with a requirement and we will offer a total SEO solution on search engines. Let us know what you need and we will help you.

SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google

Our Expertise

<figure class="image"><img src="https://api.orangemedia.com.vn/images/rqpolxa6ivcvuzkbol5c1a1b4aea4f4_20240830030622.jpg"></figure>Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable benefits, it’s a double-edged sword. Internet is multi-dimensional and that bring to users the right to speak their voice.Therefore, in order to have a successful Digital Marketing campaign, it is necessary to build a proper campaign from the beginning with the motto of prestige, focus on quality. Orange is pleased to bring you the Digital Marketing solution package as required by your brand to get maximum effect.

Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable

Digital Marketing 

NEWS

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/social-media-marketing-1728x800_c_20240830030849.png"></figure>Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as Facebook Management, Forum Seeding, KOLs, Youtube Channel, Viral Clip,… is the responsibility of Orange Ltd. We devote our knowledge and time to your brand. This is what makes us the most trusted place in the hearts of consumers.

Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as

SOCIAL

<figure class="image"><img src="https://api.orangemedia.com.vn/images/service-spotlight-website-management_20240830030746.jpg"></figure>When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development orientation and innovative content ideas. Developing a website or fan page may seem simple but make it appear on search engines or gets interactions from internet users is not a simple task. Orange is the right place you need to go if you need help with your website and fan page.

When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development&nbsp;

MANAGING WEBSITE

<figure class="image"><img src="https://api.orangemedia.com.vn/images/adwords-tips_20240830031032.png"></figure>Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search. Therefore, Google Adwords has quickly used for online businesses to achieve maximum efficiency. We are here to bring you the Google Advertising service with the most outstanding features.

Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search

GOOGLE ADWORDS

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