Hanoi (VNA) – Vietnam recorded a tradesurplus of 4 billion USD in the first half of 2020, according to the GeneralStatistics Office (GSO).
In January-June, the country’s totalexport-import turnover reached 238.4 billion USD, a year-on-year decline of 2.1percent. Of which, exports were estimated at 121.2 billion USD, down 1.1percent.
Statistics indicated that 34.1 percent of theexport revenue was contributed by the domestic economic sector, while theremainder by the foreign investment sector.
In the six-month period, 22 commodities postedexport turnover of over 1 billion USD, accounting for 86.2 percent of thetotal.
Especially, four items recorded export value of over 10 billion USD, namelymobile phones and spare parts (21.5 billion USD); electronics, computers andcomponents (19.3 billion USD); garment-textile (12.8 billion USD); andmachinery, equipment, and spare parts (10.3 billion USD).
Some farm produce posted a year-on-year declinein shipments such as fruits and vegetables (11.4 percent), rubber (27.8percent), and pepper (19.1 percent).
However, the export of rice, coffee and cashewnuts increased in both volume and value. The turnover of rice rose 19.3 percentto 1.7 billion USD; coffee 2.5 percent to 1.6 billion USD; and cashew nuts 0.7percent to 1.5 billion USD.
The US was the biggest export market of Vietnamin the period with 30.3 billion USD, up 10.3 percent year on year. China camesecond with 19.5 billion USD, up 17.4 percent, followed by the EU with 16.1billion USD (down 8.8 percent), ASEAN 11.1 billion USD (down 14.2 percent),Japan 9.4 billion USD (down 2.3 percent), and the Republic of Korea 9.3 billionUSD (up 2.3 percent)./.
Vietnam recorded a year-on-year decrease of 15.1 percent in foreign direct investment (FDI) inflows to 15.67 billion USD as of June 20, according to the Ministry of Planning and Investment (MPI).
Export turnover in agriculture, forestry, and fisheries in the first half of 2020 was estimated at 18.81 billion USD, a year-on-year decline of 3.4 percent.
Vietnam’s GDP in the third and fourth quarters will grow better than it did in the first half of the year as the country still has ample space for growth, a press conference in Hanoi on June 29 heard.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
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.
Illustrative photo (Source: VNA) 
