Trade - Service

The ministers also expect to conclude the negotiation process and the signing of the Regional Comprehensive Economic Partnership (RCEP) by the end of this year.

More relief measures are in the pipeline to support people and businesses affected by the pandemic.

ABA 2020 will honor businesses in the bloc that have made outstanding contributions to the prevention of the ongoing pandemic, and have overcome its negative impacts on socioeconomic life in the region.

Online shopping revenue accounted for 4.9% of total retail sales of goods and services in 2019.

A trade surplus of US$10.08 billion as of August 15 puts Vietnam in a strong position to surpass the record figure of US$11.12 billion in 2019.

Vietnam and some countries have agreed to resume air travels with safety measures taken such as quarantining passengers and testing them for coronavirus.

In July, Vietnam imported nearly 4,800 cars worth US$108 million, up 34% month-on-month in volume and 10% in value.

Car sales number in Vietnam in the first seven months of this year dropped 28% year-on-year to 131,248 units across all segments.

By 2025, the trade ministry targets around 45% of small and medium enterprises of Vietnam taking part in e-commerce.

Covid-19 is prompting people to spend less money on entertainment or travel services.

Vietnam attained a trade surplus of over US$8.4 billion during the first seven months of this year, significantly higher than the surplus of US$1.8 billion recorded in the same period last year.

The total value of cashless transactions jumped six times in the first half this year against the same period of 2019.

Vietnam's domestic economic rebound continued, albeit not yet at the pace of the pre-crisis level, stated the World Bank.

Prime Minister Nguyen Xuan Phuc expected the soon ratification of International Labor Organization Convention No.87 on Freedom of Association and Protection of the Right to Organize.

After one year, Job security overtook Health to become No.1 concern of Vietnamese consumers.

The EVFTA is the EU’s “vote of confidence” of Vietnam's ongoing reform efforts, as well as the country’s strategic significance in the global stage, stated a EuroCham senior executive.

AMRO remains optimistic about the Vietnam's outlook, thanks to the country's effective anti-virus measures and favorable structural economy.

This is the second FTA that the EU has ever made with a Southeast Asian country, after Singapore.

The resurgence of the coronavirus is posing a significant risk to economic recovery efforts, stated Prime Minister Nguyen Xuan Phuc.

HSBC economists forecast GDP expansion of 3% in 2020 for Vietnam, the only ASEAN country they expect to have positive growth this year.