Exports

Vietnam's trade turnover is likely to have reached US$285.12 billion in the first seven months, down 1.3% year-on-year.

In the first half of this year, rice export value jumped 18.6% year-on-year to US$1.71 billion.

Growing Chinese investment to Vietnam could turn the Southeast Asian country into a transshipment point for China to reroute its exports to a third country.

Vietnam’s central bank is expected to pursue a stronger dong, especially as this might weigh on the recovery of the country’s export-oriented manufacturing sector over the coming months.

Vietnam’s external trade decreased 1.4% year-on-year to nearly US$240.12 billion in the six-month period.

Vietnam’s exports to key markets such as the US and EU sharply rebounded across many sectors.

Vietnam is looking for cooperation with French companies in fields of renewable and green energies, hi-tech, agriculture, manufacturing and processing.

HSBC has raised its 2020 growth forecast for Vietnam to 3.0% from 1.6% previously, reflecting its renewed assumptions of Vietnam’s speedier economic rebound.

EVFTA provides a means of market diversification for EU and Vietnamese businesses.

The country is in need of superior reform solutions to ensure its business environment capable of competing with regional and international peers, said Prime Minister Nguyen Xuan Phuc.