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Vietnam’s economic growth, driven by export-oriented policies and pro-market reforms, has positioned it as an attractive destination for foreign investment, particularly in manufacturing. The nation’s relatively low labor costs and strategic initiatives have encouraged companies to diversify supply chains away from China, enhancing Vietnam’s role in global trade. Despite these advancements, U.S. investment in Vietnam...

  Vietnam’s Ministry of Industry and Trade is drafting a decree on incentives for offshore wind power, including exemption and reduction of some fees and a commitment to minimum purchase of energy output. The draft decree stipulates that projects are exempted from paying sea-using fees during construction, and the fees are halved for 12 years...

The facility is being developed by Thai Binh LNG Power, a consortium made up of two Japanese utilities, Tokyo Gas and Kyushu Electric Power, and Vietnamese industrial conglomerate Truong Thanh Vietnam Group. The project was first announced in January last year, after the consortium formed at the Vietnam–Japan Economic Forum in Tokyo during Prime Minister...

Vietnam is proactively advancing its digital and sustainable economic transformation, positioning itself as a leader in Asia’s dual transition. The National Strategy for Digital Economy and Digital Society Development (2025 with a vision to 2030) and the National Green Growth Strategy for 2021-2030 (with a vision to 2050) underscore this commitment. Digital Economy Growth By...

Russian Prime Minister Mikhail Vladimirovich Mishustin arrived in Hanoi on January 14 for a two-day official visit at the invitation of Vietnamese Prime Minister Pham Minh Chinh. The Russian delegation was welcomed by key Vietnamese officials, including Minister Tran Van Son and Deputy Minister Le Thi Thu Hang. PM Mishustin is joined by Deputy PMs...

Vietnam’s real GDP has extended its momentum well above the median consensus views of international organisations. Vietnam’s economy demonstrated robust growth in 2024, with real GDP expanding by 7.09%, surpassing both the 5.1% growth in 2023 and the official target of 6.5%. This performance was driven by strong industrial production and services sectors, which contributed...

In 2024, the Vietnam economy showed remarkable resilience, marked by a positive GDP growth of 7.09 percent. Despite facing external challenges and the adverse impact of Typhoon Yagi, the country’s economic rebound highlighted its robust recovery and adaptability. With a steadily increasing per capita GDP and strong trade dynamics, Vietnam is a standout performer in...

According to data released by the General Statistics Office on January 6, in December 2024, the total import and export turnover of goods reached 70.53 billion USD, up 6.2% over the previous month and up 15.9% over the same period last year. In the whole year of 2024, the total import and export turnover of...

In 2024, Vietnam attracted 31.15 billion USD in foreign direct investment (FDI), an increase of 9.3% compared to 2023. Of these, Singapore continued to lead with a total registered investment capital of 6.46 billion USD, accounting for 20.7% of the total FDI capital in Vietnam. South Korea ranked second with 5.16 billion USD, accounting for...

For decades, China has been the global manufacturing leader and is known as the “factory of the world”. The country’s manufacturing industry is at the forefront of efficiency and production quality. However, over the past decade, Vietnam has emerged as a competitor in this field. South Korea’s Samsung Group currently has large factories in both...

According to a VNA correspondent in Canada, in its strategy to seek markets outside the US, Canada has chosen agricultural products and processed foods to expand exports to the Indo-Pacific region, while promoting production and trade activities in this region. The above strategy is currently being focused on by the Export Development Agency of Canada...

According to Minister Dung, Vietnam continues to be an attractive destination for global FDI flows – which are declining, and competition among countries is increasingly fierce. FDI attraction in 11 months of 2024 is estimated at nearly 31.4 billion USD, realized FDI capital is estimated at about 21.7 billion USD, up 7.1% over the same...

Vietnam has decided to restart its nuclear power program after an eight-year hiatus since 2016. On November 30, 2024, the National Assembly issued a Resolution on the development of nuclear power to meet electricity demand and reduce greenhouse gas emissions, aiming to achieve Net Zero by 2050. The Vietnam Atomic Energy Institute (VINATOM) has set...

Hanoi (VNA) – Minister of Industry and Trade Nguyen Hong Dien chaired a conference on January 2 regarding the development of science and technology human resources in service of Vietnam’s nuclear power programme. In his opening remarks, the minister highlighted the local potential for nuclear power development, noting that fifteen years ago, surveys identified 13-14...

Chinese media outlets, including The Paper, CRI, Sohu, Sina, the Guangdong E-Commerce Association’s website, and BWC, have recently highlighted Vietnam’s significant economic achievements in 2024 and its promising outlook for 2025. Reports indicate that Vietnam’s GDP grew by 6.42% in the first half of 2024, with projections suggesting it will surpass 6.8% for the entire...

HA NOI — The import value of computers, electronic products and components reached US$4.52 billion in the first half of December, according to the latest statistics from the General Department of Customs. This brings the total import value of this group of goods from the beginning of the year to December 15, to $102.25 billion....

The newswire outlined that this delicate act has allowed Vietnam to safeguard its economic interests, while promoting growth opportunities in key industries, especially technology. A notable milestone is NVIDIA’s recent acquisition of VinBrain, featuring Vietnam’s burgeoning tech sector and its pivotal role in global innovation. This acquisition not only underscores the potential of Vietnamese tech...

According to the General Statistics Office, in November, the total preliminary import and export turnover of goods reached 66.4 billion USD, down 4.1% compared to the previous month and up 9.0% compared to the same period last year. In the first 11 months of 2024, the total preliminary import and export turnover of goods reached...

According to the World Trade Organization (WTO), total global export turnover in 2023 reached 23.8 trillion USD, down 5% compared to the previous year. About 20 out of the world’s top 30 exporting countries recorded a decrease in export value. The number of global trade restrictions has increased nearly 5 times since 2015, reaching nearly...

On the morning of December 14, the first meeting of the National Steering Committee on Semiconductor Industry Development took place. At the meeting, Minister of Planning and Investment Nguyen Chi Dung said that, in the trend of diversifying supply chains and complicated geopolitical developments in the world, Vietnam is emerging as an attractive destination for...

Import-export turnover in 2024 is expected to reach 782 billion USD, the highest level ever, according to the General Department of Customs. According to the General Department of Customs, Vietnam’s import-export value as of December 14 reached nearly 745.4 billion USD. Of which, exports were 384.4 billion USD, while imports were nearly 361 billion USD....

NVIDIA has committed to investing 4 – 4.5 billion USD in the next 4 years, creating about 4,000 direct jobs and 40,000 – 50,000 indirect jobs. According to Minister Nguyen Chi Dung, in the context of countries promoting supply chain diversification and complex geopolitical fluctuations in the world, Vietnam is emerging as an attractive destination...

According to VNDirect Research, MSC – the world’s second largest container shipping line, headquartered in Switzerland, is planning to invest in the Can Gio international transit port project. This project is proposed by Saigon Port Corporation (SGP) and TIL – a subsidiary of MSC. Previously, MSC shared the Tanjung Pelepas transit port in Malaysia with...

The U.S. Geological Survey states that bauxite deposits are mainly found in tropical regions, the Mediterranean, and the equatorial belt. Countries with significant bauxite deposits include Australia, Central and South America (Jamaica, Brazil, Suriname, Venezuela, Guyana), Africa (Guinea), Asia (India, China, Vietnam), and Europe (Greece, Russia). Bauxite is a type of aluminum ore. From bauxite,...