Business

The total import and export value of agro-forestry-aquatic products in the first five months of 2022 has been estimated at 41.3 billion USD, up 8.6 percent year-on-year, according to the Ministry of Agriculture and Rural Development.

The import-export value of foreign direct investment firms reached US$187.3 billion during the five months of the year, representing a year-on-year rise of 14.3%, with exports growing by 13.3% to US$98.8 billion, according to the General Department of Vietnam Customs.

Vietnam’s consumer price index (CPI) in the first five months of the year edged up 2.25 percent year-on-year while core inflation rose by 1.1 percent, according to the General Statistics Office (GSO).

The exports of aquatic products are expected to fetch 2.8-3 billion USD in the second quarter, a year-on-year increase of 36-38 percent, thanks to the strong growth of key products, according to Le Hang, deputy director of the Vietnam

Free trade agreements spurred Vietnam’s bilateral and multilateral trade, with 2022 revenues projected to hit a record 750 billion USD, according to experts.

People in the northern province of Bac Giang’s Tan Yen District are busy harvesting their early-ripening lychees.

The administration of Binh Duong province, in collaboration with the Vietnamese Consulate General in Sydney and Becamex IDC Corporation, organized an investment promotion seminar in Sydney on May 27.

S&P Global Ratings has upgraded its long-term credit rating on Vietnam to BB+ with a stable outlook on the back of its strong economic recovery and improved government institutional settings.

Organisations and individuals buying, selling and transferring real estate under two separate prices, meaning that the actual purchase price is lower than that on the notarised contract, has caused great losses of revenue to the State budget.

The Vietnamese economy recovered more slowly than the world economy last year, but the reverse is likely to be true this year.

Authorities in the northern province of Bac Giang are seeking ways to help local farmers sell around 180,000 tonnes of lychee.

Vietnam’s internet economy was valued at about 21 billion USD in 2021, contributing to 5 percent of GDP and rising seven-fold from 2015.

Vietnamese Ambassador to Egypt Nguyen Huy Dung says Vietnam and Egypt have numerous opportunities to foster their economic and trade ties as both countries are now moving into the post-pandemic period.

Vietnam’s aviation industry needs to improve to keep up with the global market as flights resume following the pandemic, Deputy Minister of Transport Le Anh Tuan has said.

Supportive solutions for businesses need to be implemented faster and stronger to improve the capacity of businesses and increase linkage among them, according to experts.

The targets set for 2022, including the growth target of 6-6.5 percent, remain a huge challenge given the domestic and international situation, Deputy Prime Minister Le Van Thanh said at the third session of the 15th National Assembly in Hanoi.

Retail prices of petrol in Vietnam rose by nearly VND700 to more than VND30,000/litre on May 23, setting a new record in the domestic petrol market.

ASEAN has been a huge potential market for Vietnamese rice, and export firms should have a strategy to expand in the market of nearly 700 million people with similarities in culture and lifestyles, an official has said.

Rising labour and production costs have prompted some relocation but HCM City remains an appealing investment destination given its market size and speedy recovery, experts say.