Mobile phones, spare parts lead billion-USD foreign currency earners
Mobile phones and spare parts continued leading the group of seven top hard currency earners that recorded over one billion USD in export turnover in the first two months of 2020.
Computers, electronic products and components came second with 5.36 billion USD in revenue, showing a yearly growth of 26.7 percent. (Illustrative image. Source: VNA)
Hanoi (VNA) – Mobile phones and spareparts continued leading the group of seven top hard currency earners thatrecorded over one billion USD in export turnover in the first two months of2020.
According to the Ministry of Industry and Trade,Vietnam exported nearly 6.9 billion USD worth of mobile phones and spare partsin the reviewed period, a year-on-year rise of 2.3 percent.
Computers, electronic products and components camesecond with 5.36 billion USD in revenue, showing a yearly growth of 26.7percent.
In January-February, the country raked in 36.92billion USD from exports, up 2.4 percent from the same period last year.
The manufacturing-processing industry earned31.39 billion USD, accounting for over 85 percent of the total exportturnover./.
Vietnam's index of industrial production (IIP) in January declined by 5.5 percent year-on-year and 11.8 percent month on month, according to the General Statistics Office (GSO).
Vietnam should pen a general plan to shape up an electronics sector with higher value as the industry is currently assembling and processing simple products, according to experts.
Some large electronics manufacturers in Vietnam are feeling the punch from the COVID-19 outbreak as material imports and finished product exports have been affected by tighter border control aimed at preventing the disease from spreading.
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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.
Computers, electronic products and components came second with 5.36 billion USD in revenue, showing a yearly growth of 26.7 percent. (Illustrative image. Source: VNA) 
