Export oriented growth

The nation exported a total of 1,568 million tonnes of iron and steel worth US$1.123 billion during the reviewed period, marking a sharp rise of 71.9% compared to last year’s corresponding period, according to data released by the General Department of Vietnam Customs. January saw Hoa Phat Group, the country's leading steel maker, export roughly 10,000 tonnes of galvanized sheet partners to Belgium and Spain, while it also shipped more than 12,000 tonnes of cold galvanized steel to the Americas in February. Along with construction steel, Hoa Phat Group has also ramped up its export of steel pipes, galvanized steel, and galvanized steel wire to foreign markets. Furthermore, Hoa Sen Group Joint Stock Company shipped high-value batches of galvanized steel sheet to the United States, Mexico, Europe, and Southeast Asia, with export volume exceeding 100,000 tonnes per month. Nghiem Xuan Da, chairman of the Vietnam Steel Association, said domestic steel consumption throughout the … [Read more...] about Iron and steel exports witness big leap

The Hanoitimes - The move is taken to support domestic producers in overcoming the unprecedented crisis due to the Covid-19 pandemic and these items are only allowed to export to countries heavily affected by the coronavirus. The Vietnamese government has allowed the export of medical masks, protective clothing and medical equipment, provided that domestic demand for those items is met (including for reserves), VnExpress quoted Prime Minister Nguyen Xuan Phuc as saying at a meeting on April 15. The move is taken to support domestic producers in overcoming the unprecedented crisis due to the Covid-19 pandemic and these items are only allowed to be shipped to countries affected by Covid-19. Illustrative photo Under the Vietnamese government’s resolution dated February 28, in the context of the Covid-19 pandemic, medical face masks could be shipped out of the country only for the purpose of international aid provided by the Vietnamese government. In addition, … [Read more...] about Vietnam turns green light to export of medical masks to pandemic-hit countries

These remarks were made by Prime Minister Nguyen Xuan Phuc at an event known as “Dialogue 2045” with various business representatives and intellectuals at the Thong Nhat Conference Hall in Ho Chi Minh City on March 6, featuring the participation of many senior leaders. The Government leader reviewed the achievements following nearly 35 years of pursuing the renewal process under the leadership of the Community Party of Vietnam (CPV), with the national economy enjoying positive growth. The lives of local people have been greatly improved, with the life expectancy increasing compared with advanced countries such as Japan and Singapore, with greater attention being given to a range of social and cultural issues. PM Phuc therefore highlighted the contributions made by the local the business community to the nation over the past 35 years of Doi Moi (Renewal), expressing hope that firms can learn new ideas to transform the nation into a developed and high-income country. The nation … [Read more...] about PM Phuc calls on combined strength for stronger national development

Vietnam reports most impressive growth in financial services regionally, particularly in the banking sector Global equity investment shed 13.1 per cent in the total number of transactions and plunged 33.8 per cent in total transaction value in the first half last year, compared to the corresponding period in 2019. Within the ASEAN-5 and Vietnam, equity transactions were slowing down last year compared to a robust 2019. The number of transactions dropped from 230 cases in the second half of 2019 to 200 cases in the first six months of 2020, meanwhile, the transaction value was curtailed by more than half, from $9.15 billion to just $4.3 billion. Amid chaos and uncertainties due to the coronavirus pandemic, Vietnam’s equity investment market has set a record with 59 transactions valued at $1.14 billion, a slight increase compared to 2019. Technology has maintained its growth momentum setting a five-year record in the number of transactions. Investments have channelled into … [Read more...] about Equity investment in Vietnam reaches new peak