Vietnam news in brief - March 12

Vietnam, UNDP pledge further cooperation 

Vice President Vo Thi Anh Xuan and Administrator of the United Nations Development Programme (UNDP) Achim Steiner have agreed to expand joint efforts that enable Vietnam to make significant contributions to UNDP's sustainable development agenda.

At the meeting in New York, US, on March 11 (local time), Vice State President Xuan appreciated UNDP's support for Vietnam's development over the past 50 years, totaling US$1 billion.

Vietnam earns US$2.36 billion from coffee exports

Vinh Hiep Co, Ltd, with its coffee brand L'amant Café, tops the list of companies exporting green coffee beans with 81,025 tonnes in the first five months of the 2023/2024 crop. This is followed by Intimex Group, Tuan Loc Commodities, Simexco Daklak, Louis Dreyfus Company Vietnam, Intimex My Phuoc, Phuc Sinh, NKG Vietnam, Olam Vietnam and Hoa Trang - Gia Lai.

In the cumulative first five months of the crop (from October last year to September this year), Vietnam exported nearly 764,802 tons of coffee, with an export turnover of over US$2.36 billion, an increase of 1.5% in volume and 39.4% in value compared to the same period of the previous crop.

Vietnam imports 40,000 tons of lobsters from Australia

Lobster imported from Australia sells for about US$70 on the Vietnamese market. Photo: nguoilaodong newspaper

Australia is a major seafood supplier to Vietnam, with rock lobster accounting for the largest share at around 40,000 tons per year, according to the Vietnam Association of Seafood Exporters and Producers. Thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam's seafood exports to Australia reached $56.7 million in January and February, up 33% from the same period last year. Lobster, catfish, and some marine species are the main export items to Australia. Among them, lobster accounts for over 60% ($34 million) with a 20% increase, while catfish exports reached over $6 million, nearly a 70% surge.

New stock trading accounts near 113,200 in February

According to the Vietnam Securities Depository, the number of stock trading accounts in Vietnam increased by 113,175 in February, of which 78 belonged to institutional investors. The number of new accounts in February was slightly lower than in January as investors took a week off for the Tet (Lunar New Year) holiday.

At the end of February, Vietnam had nearly 7.5 million retail stock traders, representing 7.5% of the total population. Market regulators expect the number of trading accounts to reach 9 million by 2025 and 11 million by 2030.

Vietnam imports 9,650 cars in February

The General Department of Vietnam Customs reported on March 11 that the country imported 9,650 completely built cars worth US$203.4 million in February, an increase of 2,700 units compared to January. Indonesia is Vietnam's leading car seller, with 4,441 units, accounting for 46% of the country's car imports in the month. Thailand ranked second, selling 3,788 cars to Vietnam.

Vietnam attracts US$4.29 billion FDI in Jan-Feb

The Ministry of Planning and Investment reported that as of February 20, 2024, total foreign direct investment in Vietnam reached US$4.29 billion, an increase of 38.6% over the same period in 2023. In the first two months of 2024, there were 48 countries and territories investing in Vietnam. Among them, Singapore leads with a total investment capital of more than US$2.08 billion, accounting for 48.5% of the total investment capital and more than 2.1 times higher than the same period in 2023.