Electric wire, cable export surges 33.7 percent in five months
Vietnam raked in over 903.8 million USD from exporting electric wires and cables in the first five months of 2020, up 33.7 percent year-on-year, according to statistics of the Ministry of Industry and Trade.
Hanoi (VNA) – Vietnam raked in over 903.8million USD from exporting electric wires andcables in the first five months of 2020, up 33.7 percent year-on-year,according to statistics of the Ministry of Industry and Trade.
China led more than 20 importers, spending nearly 261 million USD importing Vietnameseelectric wires and cables, 55.7 percent higher than that of the same periodlast year and accounting for 28.9 percent of Vietnam’s total export turnover. Itwas followed by the US and Japan.
Notably, high growth was seen in the export of the products to Hong Kong(China), Laos, and the UK with 78.9percent, 72.1 percent and 61.5 percent, respectively./.
Export of electric wire and cable earned Vietnam nearly 1.6 billion USD in the January-November period, up 24.7 percent compared to the same period last year, according to statistics of the Ministry of Industry and Trade.
Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months.
Ninety–one strikes occurred in Vietnam in the first five months of this year, mostly due to stagnant production – a major negative impact of the COVID-19 pandemic on enterprises and workers.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
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&.
Illustrative image (Photo: internet) 
