Crude Oil

The finance ministry would allocate VND3 trillion (US$130 million) from the state budget for the Covid-19 fight.

Nigerian and Angolan grades are seen as cheaper than Southeast Asian oil.

So far, total amount of deferrals of tax payment and land rental fees under the government’s support programs stood at VND37 trillion (US$1.58 billion) as of May.

As of April 15, budget revenue collection reached VND427.2 trillion (US$18.35 billion), equivalent to 28.2% of the year's estimate.

Overall crude oil and natural gas production in Vietnam may suffer year-on-year declines of 5% and 1%, respectively, in 2020.

The move is intended for Iranian businessmen and traders to become acquainted with the business potential of Vietnam and having more vigorous presence in this market.

Higher inflationary pressure, unstable crude oil and gas prices from geopolitical tension and the ongoing US – China trade war are among major risks to Vietnam’s economy this year.

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.

In the January – November period, Vietnam imported 135,230 cars worth US$2.91 billion, up 100.4% in quantity and 97.7% in value year-on-year.