Vietnam economic news

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

Aquatic exports to China plunge amid COVID-19 threats Vietnamese seafood exports to China in April suffered a decline of 11%, and this downward trajectory continued in May with a fall of 22%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). While major markets such as the United States and the EU have reopened and moved to increase imports of seafood products from Vietnam, China has recently tightened their inspection over frozen seafood products from other countries as part of efforts to prevent the potential spread of the SARS-CoV-2 virus. This has caused Vietnamese seafood exports to the market to experience a rapid decline over the past two months. Most notably, aquatic exports fell sharply in all major product groups, including shrimp, down 35%, other fish species, with the exception of tuna, down 23%, and pangasius, down 5%. The impact of the pandemic coupled with China's latest tight policy has led to turnover of frozen … [Read more...] about VIETNAM BUSINESS NEWS JUNE 24

Additional 88 domestically-transmitted COVID-19 cases reported Vietnam logged 97 new COVID-19 cases, including 88 domestic and nine imported, in the past six hours to 6pm on June 22, the Ministry of Health (MoH) said. Most of the new cases were detected in Ho Chi Minh City, with 63 infections, and the remainders were discovered in Bac Giang (12), Bac Ninh (6), Hung Yen (2), Nghe An (1) and Hanoi (1). By 6pm on June 22, the country had recorded a total of 12,010 domestically-transmitted infections and 1,717 imported cases. The number of locally-transmitted cases since the fourth COVID-19 wave hit Vietnam on April 27 amounted to 10,875, including 2,772 recoveries. According to the MoH’s Medical Service Administration, 5,546 patients have given the all-clear from coronavirus SARS-CoV-2 to date, while the death toll related to the disease was 69. Among active patients undergoing treatment, 377 have tested negative to the virus once, 132 twice and 141 thrice./. 12-hour … [Read more...] about VIETNAM NEWS HEADLINES JUNE 22

Ambassador Dang Dinh Quy, Permanent Representative of Vietnam to the UN (Photo: VNA) New York – Vietnam on June 23 voted in favour of a United Nations (UN) resolution calling for an end to the decades-long economic, commercial and financial embargo imposed by the US against Cuba, and urged the US to reverse the current Cuba policies for the interest of both peoples and for peace, stability and development in the region and the world over. The resolution was adopted by the UN General Assembly at a meeting the same day with 184 votes in favour, 2 against, and 3  abstentions. Participants showed concern about negative impacts caused by the US unilateral measure as well as difficulties and challenges to the Caribbean country’s development in all fields. They underlined the need for the US to remove the embargo and commit to abiding by principles, objectives and spirit of the UN Charter, especially those on sovereignty equality and non-interference in other states' internal … [Read more...] about Vietnam votes for UN resolution calling for ending US embargo against Cuba

At the talks (Photo: VNA) Hanoi (VNA) – Minister of Foreign Affairs Bui Thanh Son on June 23 held talks with his counterpart from the Republic of Korea Chung Eui Yong during which both sides agreed to boost the bilateral relations further. Chung, who is on an official visit to Vietnam from June 21 – 23, congratulated Vietnam on the success of the elections of deputies to the 15th National Assembly and all-level People’s Councils for the 2021 – 2026 tenure, and highly regarded the country as a non-permanent member of the UN Security Council for the 2020 – 2021 term. He also expressed his confidence that Vietnam will achieve more successes in socio-economic development and diplomacy in the time to come. The two FMs exchanged views on the bilateral ties and international and regional issues of mutual interest. They both reiterated the importance of maintaining and further advancing the Vietnam-RoK Strategic Cooperative Partnership . They also expressed their … [Read more...] about Vietnam, RoK seek to further advance ties