Hanoi (VNA) 𒐪– Vietnam is emerging as a major importer of powderedmilk from the Republic of Korea (RoK) that is facing low birth rate.
Specifically,the RoK exported 15.85 million USD worth of powdered milk to Vietnam as of thelast November, or 17% of its total shipment of this product. Datafrom the Korean Customs Service showed that the RoK earned 95.86 million USDfrom the export of powdered milk during January-November. Notably, its shipmentto Vietnam soared to 19.54 million USD in 2021 from 7.58 million USD in 2016. Itis estimated that its powdered milk export revenue will surpass 100 million USDthis year, including over 20 million USD from Vietnam for the first time. LotteConfectionery, which merged with Lotte Food in July 2022, is expandingits formula milk business in Vietnam with such brands as Nubone, Lotte Kid A and Grand Noble that debuted in 2019. Thanksto increased marketing via television and social media, the company's export to Vietnamdoubled in 2022 from a year ago. Korean dairy manufacturer Namyang Dairy Productsis also stepping up the export of powdered milk such as Imperial XO and maintainingits reputation in Vietnam./.
The formula milk company Bubs Australia announced on November 11 that it had reached an agreement with Vietnam TVV Service and Trading Co., Ltd. to distribute its formula milk products for children in Vietnam via the mother and baby store chain BiboMart JS Company.
Japanese food giant Meiji Co. will set up a wholly owned subsidiary in Hanoi on April 1 to ramp up sales in Vietnam of powdered infant formula milk imported from Japan.
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 image (Photo: Internet) 
