Việt Nam News

The companies were lauded for their efforts to be flexible, innovate, and adjust to the difficult circumstances from 2021 to 2023.

The statistical visualisation platform Seasia Stats recently ranked Việt Nam among the top 15 economies in Asia, with projected economic output reaching some US$506 billion in 2025.

Optimistic forecasts suggest economic growth could even reach 7 per cent, exceeding the Vietnamese Government’s expectations and outperforming the average growth rate in recent years.

Activities by the Việt Nam Trade Office in Thailand in 2024 have strengthened trade ties, helping Thailand remain Việt Nam’s largest ASEAN trading partner, said Trade Counsellor Lê Hữu Phúc.

The ability to manufacture green produce is a good way for Vietnamese businesses to win over the UK market, where many consumers are willing to pay higher prices for green, clean products, experts said.

The cashew industry had to spend more than $3 billion to import raw cashew nuts for processing export products in the first 11 months, in order to gain an export revenue of $3.98 billion.

Việt Nam now ranks third among countries, with the largest trade surplus with the US, after only China and Mexico. Strong export growth to the US is recorded through items such as wooden furniture, machinery, optical equipment, medical measurement, office machines, printers, hand tools and hydraulic pneumatics, footwear, rubber and rubber products besides plastics and plastic products, iron and steel.

Following Peru's ratification, the UK has secured the sixth and final ratification needed to trigger its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). As the UK officially becomes the first non-founding economy to join the CPTPP, Việt Nam News reporter Thu Ngân spoke with British Consul General in HCM City Alexandra Smith about the UK's inclusion in the CPTPP and how this milestone will benefit the UK - Việt Nam bilateral trade relationship.

The trend underscores a sector grappling with financial challenges, while seeking innovative ways to restructure debts, ensure liquidity and stabilise operations in a volatile market.

However, foreign capital continued to flow out of the market, with a total net selling value of nearly VNĐ50.4 billion on the two main exchanges.

As Việt Nam sets its sights on double-digit annual growth and explores emerging industries such as aerospace, aviation, maritime and underground spaces, PM Phạm Minh Chính believed that the vision and direction of US companies align well with Việt Nam's strategic goals and trends.

Domestic travel remains a key driver of tourism recovery in Việt Nam. A significant 49 per cent of travellers prefer exploring domestic destinations, while 31 per cent prefer to travel abroad.

Strong foreign direct investment (FDI) inflows show the attractiveness of Việt Nam's real estate market in the eyes of foreign investors.

With a population of nearly 10 million and an expanding middle class, HCM City represents a vast market with great potential for Chinese businesses, especially those from the Guangdong-Hong Kong-Macao Greater Bay Area Entrepreneurs Alliance (GBA Alliance), affirmed Võ Văn Hoan, vice chairman of the HCM City People's Committee.

Over 50 per cent of imported food product lines formerly subject to State inspections on food safety will no longer require inspections before clearance, facilitating business operations and fostering an improved investment environment in Việt Nam.

The UKVFTA has opened up opportunities for Vietnamese consumers to access high-quality British food and drink.

Cholimex Food Joint Stock Company, one of the leading manufacturers of sauces, spices and frozen foodstuff in Việt Nam, said the UK is a promising market and its exports to the country has been enjoying steady growth over the past several years.

Experts discuss transforming HCM City into a premium service hub at a seminar on December 17.