Vietnam records 1.35 billion USD trade deficit in first half of June Vietnam reported a trade deficit of 1.35 billion USD in the first half of June as exports reached only 12.3 billion USD – down nearly 2 billion USD compared to the latter half of May, the General Department of Customs has announced. Among items posting the strongest turnover decline included computers, electronics and parts with 1.06 billion USD, down 800 million USD; machinery and equipment with 1.1 billion USD, down 260 million USD; and telephones and components with 1.96 billion USD, down 50 million USD. Since the beginning of this year to mid-June, the nation’s trade value surpassed 288.6 billion USD. Of the sum, over 143.3 billion USD came from exports, up 30 percent year-on-year while the remainder of 145.3 billion USD was from imports, up 36 percent. That resulted in a trade deficit of 1.96 billion USD, the department said. According to trade experts, the above-mentioned trade deficit was … [Read more...] about VIETNAM BUSINESS NEWS JUNE 23
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Vietnamese firms invest US$21.81 billion in overseas projects
Vietnamese investors poured a total of US$21.81 billion into 1,420 valid projects abroad during the opening five months of the year, according to the Ministry of Planning and Investment. Their numerous investment projects largely focus on mining and agro-forestry-fisheries sectors, with Laos, Cambodia, and Russia emerging as the top destinations for Vietnamese capital, making up the lion’s share with 23.7%, 13.1%, and 12.9%, respectively. Total newly and additional investment capital abroad during the reviewed period reached US$546.7 million, a three-fold increase in comparison to the same period from last year. Of the total, there were 21 projects which received investment certificates with a total registered capital of US$143.5 million, equivalent to 88.7% of the figure recorded during the same period last year. Furthermore, local financiers adjusted investment capital for nine projects, with combined additional investment capital reaching US$403.2 million, … [Read more...] about Vietnamese firms invest US$21.81 billion in overseas projects
Vietnamese buyers cross the ocean for M&A transactions
According to the Ministry of Planning and Investment, in the first four months of 2021, Vietnamese companies have shown their interest in outward investment in 10 sectors. A recent significant jump in Vietnam’s investment abroad, raising direct funds, and mergers and acquisitions are slated to help local companies quench the thirst for high-quality capital, improving their international status, and expanding their customer bases. Vietnam’s overseas companies have been gaining momentum in moving international capital, investing across a broad spectrum of sectors ranging from natural resources and manufacturing to telecommunications and many others. Fresh data from the Ministry of Planning and Investment (MPI) reveals that in the first four months of 2021, Vietnam’s total newly- and additionally-granted overseas investment capital reached $545.9 million, up nearly eight-fold on-year. Some 18 projects were granted new investment registration certificates, with the total … [Read more...] about Vietnamese buyers cross the ocean for M&A transactions