Trade - Service

Trading activities were among the highlights of the economy in 2020 with an all-time high trade surplus of US$19.1 billion and contributed to a positive economic growth of 2.91%.

Vietnam is an important partner for US in ASEAN as well as a growing market for American exports and increasingly an important part of global supply chains for American companies, said the Chairman of the US-ASEAN Business Council.

Vietnam Customs is a focal point for quality and food safety inspection of imported products at the border gate.

The total number of pig herds in Vietnam is estimated at 27.3 million as of present, up 20% against early 2020 and equivalent to 87% of the pig herd before the outbreak of the African Swine Fever.

This special shipment will be delivered to Malaysia and Singapore, those among Vietnam’s top 10 rice buyers.

The transport ministry officially stops licensing flights from countries and territories where new Covid-19 variant is reported.

Hanoi doubles fine and applies the maximum prison sentence of 10 years for violators of illegal timber trade.

Traditional investment channels such as stock or real estate markets are set to continue to be the focus for investors in 2021.

Vietnam exported US$13.17 billion worth of timber and forestry products in 2020, 5.4% above the year’s plan and up 16.4% year-on-year.

US’s decision to initiate a trade probe on Vietnamese goods could affect thousands of enterprises and millions of workers and customers from the two countries.

The export of the first batch of shrimp of 2021 is considered as a positive sign to open up bright prospects for seafood exports this year.

Government support is needed for the local leather and footwear sectors to realize the export target of $20 billion in 2021.

For the act of abusing internal information to buy, sell stocks or manipulate the stock market, the fine is 10 times the illegal gained amount for organizations and five times such amount for individuals.

Such growth rate, while remaining lower compared to the 12.7% recorded the previous year, was an encouraging sign for the business community amid global retail market suffering plunge in revenue during the pandemic.

Despite severe Covid-19 impacts, Vietnam – South Korea trade relations this year is on track to reach or even exceed the US$70 billion mark recorded in 2019.

CEBR’s report estimated by 2035, Vietnam’s nominal GDP is estimated at US$1.59 trillion from the current US$341 billion, a nearly 5-fold increase in a 15-year span.