Vietnam first Southeast Asian country to earn over 1 billion USD from exports to Hungary
Vietnam has become the first Southeast Asian nation to earn over 1 billion USD from exporting goods to Hungary and the European country’s leading exporter from this region since 2000, according to the Ministry of Industry and Trade.
Hanoi (VNA) – Vietnam has become the first Southeast Asian nation to earn over 1 billion USD from exporting goods to Hungary and the European country’s leading exporter from this region since 2000, according to the Ministry of Industry and Trade.
Statistics from the Hungarian side showed that Vietnam's export revenue from Hungary reached 1.008 billion USD in 2020, a surge of 86 percent year on year.
Vietnam was followed by Malaysia with 872.8 million USD, Thailand 516.9 million USD, Singapore 363 million USD, the Philippines 136 million USD, and Indonesia 115.3 million USD.
In the first 10 months of 2021, Vietnam earned 842.7 million USD from the market, up 5 percent over the same period last year and secured its first position among the regional countries in the field.
Electronic accessories accounted for 74.1 percent of the total export revenue Vietnam earned from Hungary in 2020, equivalent to 747 million USD. The figures were 77 percent and 574.8 million USD, respectively in the first 10 months of 2021./.
Vietnam treasures and wants to enhance multi-faceted cooperation with Hungary – its first comprehensive partner in Central and Eastern Europe, Chairman of the National Assembly Vuong Dinh Hue said on July 12.
The Hungarian Government has presented Vietnam with 100,000 doses of AstraZeneca COVID-19 vaccine and 100,000 antigen test kits to support the Southeast Asian country in its battle against COVID-19.
Vietnamese Ambassador to Hungary Nguyen Thi Bich Thao received the token of 60,000 doses of AstraZeneca COVID-19 vaccine presented by the Croatian Government at a ceremony held in Budapest, Hungary on October 12.
An exchange was held in the Hungarian eastern city of Hajdúszoboszló from 15-17 as a tribute to former Hungarian officials who joined the international mission supervising the implementation of the Paris Agreement on ending the war in Vietnam in the 1973-1975 period.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Source: VNA) 
