Vietnam’s export turnover to Cambodia reached 332 million USD in October, raising the total figure to 3.06 billion USD in the first ten months, or up 814 million USD against the same period last year.
Hanoi (VNA) - Vietnam’s export turnover to Cambodia reached 332 million USD in October, raising the total figure to 3.06 billion USD in the first tenmonths, or up 814 million USD against the same period last year, according to the General Department of Vietnam Customs.
The value also set a record over the last ten years (2011-2018) with over 3 billion USD.
In the January-October period, Vietnam's key exports included steel (713 million USD), petrol (403 million USD), garments and textiles (398million USD), leather and footwear (195 million USD).
Meanwhile, Vietnam mainly imported cashew (280 million USD), rubber (90 million USD), wood and woodwork products (88 million USD).
Vietnam has run a trade surplus with Cambodia over the past years. In 2011, total import revenue between Vietnam and Cambodia stoodat 2.84 billion USD including 2.41 billion USD of export and 430 million USD ofimport.
In 2013, trade surplus hit a record high of 2.4 billion USD. However, thetrade surplus declined to 1.5 billion USD in 2016.
In the first ten months of 2018, the trade surplus valued at 2.25billion USD, accounting for 72 percent of Vietnam’s total export revenue toCambodia.
In spite of neighbouring relations, goods circulation between Vietnam andCambodia occupied a small proportion of Vietnam’s total export, only 1 percent.Last year, Cambodia was the 19th largest export market of Vietnam. - VNA
Prime Minister Nguyen Xuan Phuc has affirmed Vietnam’s consistent policy of strengthening its traditional friendship and comprehensive cooperation with Cambodia.
Ho Chi Minh City will do its best to continue bolstering the sound neighborliness, traditional friendship, and comprehensive, durable and long-lasting cooperation between Vietnam and Cambodia, a municipal official said.
Vietnam and Cambodia could make their two-way trade value at 7-8 billion USD by 2020 as they have established sound cooperation across sectors and their governments have regularly taken measures to remove difficulties for businesses, Prime Minister Nguyen Xuan Phuc said.
A conference on social networks and information safety took place in Phnom Penh, Cambodia, as part of the information and communications collaboration framework between Vietnam and Cambodia.
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
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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.
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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.
Illustrative image (Source: //vneconomy.vn) 
