Trade - Service

Globalization has been good for Vietnam. Its GDP per person grew from about US$1,500 in 1990 to about US$6,500 today, but unlike in some fast growing economies, its new prosperity has been shared.

Vietnam`s trade surplus with the EU stood at US$21.24 billion in the January - September period.

Vietnam and the European Union (EU) made another move pushing their free trade agreement and Investment Protection Agreement (IPA) into place, during Prime Minister Nguyen Xuan Phuc’s visit to Europe.

In the first nine months of 2018, Vietnam`s tourism authorities have made a lot of efforts to promote the country`s image, and achieved remarkable results.

Generation Z is estimated to be around 15 million people by 2025, representing approximately 25% of the country’s workforce.

During the January - September period, insurance companies reinvested VND293.31 trillion (US$12.59 billion) into the economy, up 26.8% year-on-year.

The move is part of a series of commitments signed in the Memorandums of Understanding (MOUs) between Vietnam`s Ministry of Industry and Trade (MoIT) and AEON.

The event as part of activities to welcome a delegation of travel businesses from 12 European countries those carries out a fact-finding tour of Hanoi’s tourist attractions from October 4 to 10.

Export value of the FDI sector in the January - September period reached US$126.63 billion, up 15.8% year-on-year, accounting for 70.6% of Vietnam`s total export value.

The revenue is equal to 79.54% of estimation and 76.83% of the 2018 target, Hai Quan newspaper reported.

Strong export growth is expected to lead to a trade surplus of US$2 billion for the entire year, according to the Ministry of Industry and Trade (MoIT).

Grab wants to assist Vietnam in developing online payment for public services, which is part of the Vietnam`s e-government strategy.

If excluding the price factor, the growth rate was 8.8% during the period, higher than the rate of 8.76% recorded in the same period in 2017.

The country`s trade turnover reached US$352.43 billion in the first nine months of 2018.

Propaganda is an important task in the process of bringing the Cat Linh Ha Dong urban railway line into operation, in order to facilitate the people to accept and use it.

Export value of the FDI sector as of September 15 reached US$118.81 billion, up 16.4% year-on-year or US$16.78 billion, accounting for 70.5% of Vietnam`s total export value.

According to the Food Safety and Inspection Service (FSIS), the fish inspection system for siluriformes in Vietnam, China, Thailand are equivalent to U.S. standards.

Vietnam`s trade turnover in the first eight months of 2018 stood at US$312.13 billion, up 14.5% or US$39.6 billion year-on-year.

During the period, cars from Thailand, Indonesia and China accounted for 93% of total cars imported to Vietnam.

E-commerce sales are forecast to reach US$10 billion by 2020, accounting for 5% of total retail and services revenue, while 30% of the population will shop online, spending an average of US$350 per person annually.