Vietnam news in brief - May 15

Car imports worth nearly $930m in four months: customs data

Vietnam imported 44,000 completely built cars worth nearly US$930 million in the first four months of this year, according to the General Department of Customs. The figures were down 19.4% and 23.5% year-on-year respectively.

The largest exporter of cars to Vietnam in January-April was Indonesia, with 19,900 cars worth US$287 million. It was followed by Thailand (13,400 cars worth US$266.5 million) and China (nearly 8,850 cars worth US$267 million).

Minister recommends more Vietnamese cultural centers abroad

A folk performance at the Vietnamese Cultural Center in France in December 2023. Photo courtesy of the center

Minister of Culture, Sports and Tourism Nguyen Van Hung proposed on May 14 that the government build Vietnamese culture centers in the US, Japan and South Korea. According to the minister, the Vietnamese communities in these three countries are the largest, and building cultural centers there will spread Vietnamese customs and traditions and promote national values.

So far, Vietnam has two cultural centers in France and Laos.

Vietnamese rice exports up by a third to $2 billion in Jan-Apr

Vietnam shipped more than 3.1 million tons of rice abroad in January-April, worth about $2 billion, according to the General Department of Customs. The export volume rose 9.5% year-on-year, while the value soared 34% year-on-year. The four-month average selling price rose 22% to $644 per ton.

The Philippines was the largest buyer, purchasing 1.5 million tons of Vietnamese rice valued at $935.6 million. The figures were up 15.5% and 44.5%, respectively, from the previous year.

Direct flights between Vietnam and Sweden under consideration

Vietnam wants to promote air travel between Vietnam and Sweden and explore the establishment of direct flights between the two countries. Minister of Transport Nguyen Van Thang made the proposal at a meeting with Swedish Minister of Infrastructure and Housing Andreas Carlson on May 14.

Minister Thang expects that through the direct air link, Vietnam can become a gateway for Sweden to Southeast Asian countries, while Sweden can serve as a bridge for Vietnamese people and businesses to reach Northern European countries.

Vietnam is an attractive destination for Australian tourists

Vietnam is an appealing destination for Australians, particularly due to its cuisine, culture, and hospitality, Anthony Mazza, President of the Parramatta Chamber of Commerce said during a series of promotional events for Vietnam's tourism in Australia on May 13-14.

The program aimed to provide opportunities for Vietnamese and Australian businesses to strengthen strategic partnerships and exchange information, thereby contributing to the strengthening of Vietnam-Australia tourism activities in the context of the strong recovery of the tourism industry. Following the promotional program in Sydney, a similar event will be held in Melbourne on May 17.

Draft program for Vietnam's US$8 billion pharmaceutical industry

The Ministry of Industry and Trade recently submitted to the government a draft development program for the pharmaceutical industry through 2030, with a vision through 2045. According to the IQVIA Institute, Vietnam belongs to the group of emerging markets, which includes 17 countries with the highest pharmaceutical market growth rates in the world.

In 2023, Vietnam's pharmaceutical market is projected to reach about $8 billion, with an average annual drug spending of about $80 per person. By 2030, the average drug expenditure per person will reach nearly $300 per year.