Hanoi (VNA)♏ - Sustainable growth of industrial exports was featured at a seminar held in Hanoi on November 5.
Speaking at the event, Deputy Minister of Industry and Trade Tran Tuan Anh attributed the sustainable industrial export growth over the past time to a solid manufacturing base, the stable socio-economic environment, and business incentives.
Deputy Director of the Ministry of Industry and Trade’s Export-Import Department Tran Thanh Hai said processed industrial goods accounted for 78.8 percent of the country’s total exports as of early October, mostly contributed by phones and spare parts, garment, footwear, computers and accessories, and transport vehicles.
He said FDI inflows, predominantly in industry, as well as efforts to become part of the global supply chain are propelling the exports of industrial goods.
He, however, also described globalisation and FTA deals as factors to fuel competition between local producers and foreign rivals.
Non-tariff barriers will not support Vietnamese products in the battle against high-quality and low-cost imports, he said.
The underdeveloped support industry cannot help domestic firms become self-sufficient in manufacturing and export materials.
Challenges in quality, prices, design and resilience to market movements are testing local firms’ capacity, said Deputy General Director of Red River Garment Company Bui Viet Quang.
Vu Van Thanh, Deputy General Director of the Hoa Sen Steel Sheet Corporation, called for more support from the State and the ministry, like intensive training in trade defence and competition laws for businesspeople.
The Vietnamese embassies and commercial offices abroad should closely oversee and protect legitimate rights of domestic firms in doing business with foreign rivals, he added.
The event was co-hosted by the MoIT and Cong thuong (Industry & Trade) newspaper.-VNA
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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 image (Photo: VNA)
