Trade between Vietnam and China has plunged as the latter suspended imports of Vietnamese goods via the Lao Cai International Border Gate from January 30.
Trade between Vietnam and China has plunged as the latter suspended imports of Vietnamese goods via the Lao Cai International Border Gate from January 30. (Photo: VNA)
Lao Cai (VNA) – Trade between Vietnam and China hasplunged as the latter suspended imports of Vietnamese goods via the Lao CaiInternational Border Gate from January 30.
The decision was made by China in the face of the prevalence ofthe new coronavirus (nCoV), according to Director of the Lao Cai provinceDepartment of Industry and Trade Do Truong Giang.
China has temporarily shut border markets in Hekou town in Yunnanprovince that border Vietnam’s Lao Cai province.
From January 25-30, only 3 million USD worth of goods were handledat the border gate, a decrease of more than 40 percent year-on-year.
Accordingto the Health Ministry, as of 12:00 on January 30, 7,819 cases of nCoVinfections had been confirmed in 19 countries and territories worldwide, withthe death toll climbing to 170, including 162 in Wuhan, where the first caseswere found.
Asof 15:20 the same day, three Vietnamese people had tested positive for nCoV,raising the total cases in the country to five./.
Earnings from agricultural product exports via Lao Cai International Border Gate in the northern province of Lao Cai since the beginning of 2018 exceeded 250 million USD, up 40 percent year on year.
The Lao Cai border economic zone will be developed into an industrial, urban, trade and service hub, serving as a driving force for the growth of the northern mountainous province of Lao Cai, according to the zone’s master plan.
Budget collection of the northern mountainous province of Lao Cai in 2018 is estimated at over 8 trillion VND (nearly 342.49 million USD), surpassing the assigned target by 41.7 percent and up 6.3 percent against the previous year, the provincial People’s Committee reported on December 11.
Border gates in northern Lao Cai province which borders China posted record trade value of 3 billion USD in 2018, according to the customs office at the Lao Cai International Border Gate.
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.
Trade between Vietnam and China has plunged as the latter suspended imports of Vietnamese goods via the Lao Cai International Border Gate from January 30. (Photo: VNA) 
