Vietnam’s export turnover projected to hit 535 billion USD by 2030
Vietnam’s export turnover is projected to record an annual average growth of 7 percent per year, hitting 535 billion USD by 2030, according to a new research by Standard Chartered issued on November 30.
HCM City (VNA) - Vietnam’s export turnover is projected to record anannual average growth of 7 percent per year, hitting 535 billion USD by 2030,according to a new research by Standard Chartered issued on November 30.
The "Future ofTrade 2030: Trends and markets to watch" also forecasts that the globalexports will almost double from 17.4 trillion USD to 29.7 trillion USD over thenext decade.
Vietnam is considered an important market contributing to the growth of the globaltrade, it said.
It also found that 41 percent of global businesses currently operate or plan toinvest in Vietnam within the next five to 10 years. This shows that Vietnamwill be one of the important motivations of global trade growth in the next 10years.
The US and China willcontinue to be Vietnam's largest export markets, respectively accounting for 26percent and 19 percent of the Southeast Asian country’s total export turnoverby 2030.
According to thestudy, Vietnam is an emerging manufacturing powerhouse with expanding internationaltrading relationships.
According to MicheleWee, CEO of Standard Chartered Bank Vietnam,Vietnam’s increasing integration intothe world economy through various free trade agreements (FTAs) such as the EU –Vietnam FTA and the UK – Vietnam brings Vietnam many advantages and allows itto expand its exports, move up value chains across sectors as well as create skilled jobs.
The report, commissioned by Standard Chartered and preparedby PwC Singapore, is based on an analysis of historical trade data andprojections until 2030, as well as insights from a survey of more than 500 seniorleaders in global companies./.
The number of Vietnamese workers entering the Republic of Korea (RoK) is expected to rise, reaching 183 at the end of this month, according to the Management Board of Vietnamese Laborers in RoK.
Lenger Seafoods Vietnam Co., Ltd based in the northern province of Nam Dinh on November 22 marked the first-time export of a container of canned clams to Europe.
The textile - garment industry is expected to thrive and earn 40 billion USD in exports next year, when the COVID-19 pandemic is forecast to ease in Vietnam and the world.
The Institute of Policy and Strategy for Agriculture and Rural Development has forecast that Vietnam’s coffee export will increase in coming months on the back of growing global demand and free trade agreements.
The southern province of Binh Phuoc enjoyed a trade surplus of 1.2 billion USD in the first 11 months of 2021, according to the provincial Department of Statistics.
The Ministry of Agriculture and Rural Development (MARD) expects to exceed its annual export target for agricultural, forest and fishery products, thanks to the restoration of production and business after the COVID-19 outbreak.
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.
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