Vietnam’s imports from Canada surge, exports barely budge in Q1
Vietnam’s exports to Canada rose slightly while imports from the North American nation almost doubled in the first quarter of 2017, according to Vietnamese Trade Counsellor to Canada Hoang Anh Dung.
Ottawa(VNA) – Vietnam’s exports to Canada rose slightly while imports from the NorthAmerican nation almost doubled in the first quarter of 2017, according toVietnamese Trade Counsellor to Canada Hoang Anh Dung.
Two-way tradebetween Vietnam and Canada hit 1.07 billion USD during the period, up 152percent from 929 million USD in the same period last year.
Vietnam’s exports toCanada rose by 8 percent to 902 million USD, compared to growth of 23 percentin the first three months of 2016. This was due to a 1.6 percent year-on-year declinein exports of machinery, electric and electronic devices, and 11.1 percent inmobiles.
Vietnam mostlyshipped mobiles, printers, electric cables, timber products, textile-garment,footwear, seafood, coffee, cashew, vehicles, toys, rubber, and vegetables andfruits to Canada.
Vietnam remainedASEAN’s top exporter to Canada and one of the region’s largest trade partnerswith the country.
It also ranked fifthin Asia in exports to Canada, after China, Japan, the Republic of Korea andTaiwan (China).
Meanwhile, Vietnamimported 166 million USD worth of commodities from Canada, a year-on-yearincrease of 77.3 percent, compared to a plunge of 38.7 percent in the sameperiod last year, due to higher domestic demand for wheat, coal, oilseedresidues, cattle feed and pharmaceuticals.-VNA
Vietnam enjoyed a trade surplus of nearly 3.089 billion USD with Canada as of the end of November, 2016, an increase of 24.6 percent against the same time in 2015, according to Statistics Canada.
The planning and investment department of Binh Dinh province has issued an investment certificate to Seldat Vietnam Company Limited to build a garment factory in An Nhon town.
Canada expects to sell more quality and safe farm produce to Vietnam where the middle class is growing fast, it was stated by Canadian Minister of Agriculture and Agri-Food Lawrence Macaulay.
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.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Wheat (Photo: AFP/VNA) 
