Trade - Service

In 2019, foreign investors bought in shares worth VND3.7 trillion (US$159.67 million), but offloaded over US$4.4 trillion (US$189.88 million).

As of December 2019, the nation’s hog herd shrank by 25.5% year-on-year due to the impact of African swine fever.

The resolution is a necessary move to ensure sustainable development of Vietnam’s exports and lawful rights of local compliant traders.

Nine out of the ten largest cap companies continued to lead the classification compared to 2018, but their rankings are now changed.

The government is determined to deal with the case in compliance with the law and ensure lawful rights of enterprises and consumers.

Vietnam’s active participation in multilateral and bilateral trade agreements created a pathway for improvements in the country’s business environment and support local enterprises to grow.

The government remains steadfast in removing obsolete regulations that restrict business operations, while preventing the introduction of new regulations implying higher costs for enterprises.

In 2019, for the first time Vietnam’s trade turnover exceeded the US$500-billion mark to reach nearly US$517 billion, of which exports stood at US$263.5 billion, up 8% year-on-year.

It is no doubt that 2019 was another successful year for Vietnam’s economy, putting the country in a favorable condition to achieve all socio-economic targets set for the 2016 – 2020 period.

The consumer price index (CPI) saw an increase of 1.4% in December against the previous month, the highest growth rate for December over the last nine years.

In the first 11 months of 2019, rural areas achieved a 9.3% value growth, while urban areas grew by 6.1% over the same period last year, mainly driven by the increase in sales volume.

This is the second consecutive year that Vietnam’s economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018.

In 2019, the country’s trade turnover is estimated at US$516.96 billion, and the trade surplus would reach an all-time high of US$9.9 billion.

The EVFTA is considered the new and modern free trade agreement with the strictest requirements and highest commitments, it obviously will bring tough challenges to Vietnam.

Favorable conditions in 2020 are expected to help facilitate the elevation of Vietnam’s stock market classification from a “Frontier Market” market to an “Emerging Market” by MSCI.

The inflation is estimated to be in range of 3.59 – 3.91% for 2020, much higher than the rate of 2.7 – 2.8% for this year.

This would be a second consecutive year that Vietnam’s economy expands over 7%, while low inflation makes such economic growth more significant.

Despite trade protection measures from the authority, Vietnam’s steel imports continue to surge.

The market is seen as an important place to exchange goods amid rising bilateral trade.

The majority of imported cars in Vietnam in November came from Thailand and Indonesia.