Binh Duong posted a highest-ever trade surplus of around 6.3 billion USD in the first half of 2022 as its foreign trade has seen quick recovery since the beginning of this year on the back of the recovery of global production and supply chains.
A corner of the Vietnam-Singapore Industrial Park 1 (VSIP1) in Thuan An, Binh Duong. (Photo: VNA)
Binh Duong (VNA) – Binh Duong posted a highest-ever tradesurplus of around 6.3 billion USD in the first half of 2022 as its foreigntrade has witnessed quick recovery since the beginning of this year on the back ofthe recovery of global production and supply chains.
The southern province generated nearly 19 billion USD fromexports and spent some 12.7 billion USD on imports, according to head of theprovincial Statistics Office Ngo Van Mit.
Its largest market in H1 was the US which imported about 6.4billion USD worth of goods and services from Binh Duong, followed by the EU(2.2 billion USD), the Republic of Korea and Japan (over 1.8 billion USD), and Taiwan(China) (over 1.4 billion USD).
Binh Duong reported a quite impressive growth of 6.84% inGross Regional Domestic Products (GRDP) during the period; with industry and constructionexpanding 7.58%; services 6.60%, and agriculture, forestry and fisheries,2.95%.
More than 3,300 enterprises have newly established in theprovince from January-June, registering total capital of nearly 21.26 trillionVND (911.86 million USD).
It also raked in over 2.5 billion USD in foreign directinvestment (FDI)./.
The southern province of Binh Duong lured 2.5 billion USD worth of foreign direct investment (FDI) in the first five months of 2022, rising to the top of localities nationwide.
The southern province of Binh Duong’s gross regional domestic product (GRDP) grew 6.85 percent in the first six months against the same period last year.
Binh Duong smart city of the southern province of the same name was named in the 2022 Top 7 Intelligent Communities 2022 worldwide at a ceremony on June 21.
Secretary General of the European Chamber of Commerce (EuroCham) Erwin Debarea has said the southern province of Binh Duong has potential to attract investors in green industries such as high technology, digital transformation, climate change mitigation and environmental protection towards green growth and sustainable development - areas of European investors' interest and priority.
The southern province of Binh Duong is leveraging its industrial parks to lure foreign direct investment (FDI) and develop trades and services, building a diverse economic ecosystem that facilitates the formation of a green and smart economy.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
A corner of the Vietnam-Singapore Industrial Park 1 (VSIP1) in Thuan An, Binh Duong. (Photo: VNA)
