According to the Ministry of Industry and Trade, in the first five months of 2023, export activities continued to be affected by difficulties in production, a decrease in export orders, and a decrease in export prices.
The application of global minimum corporate tax from the beginning of 2024 is expected to be an effective tool to prevent transfer pricing and tax evasion, thus helping to increase State revenue through additional tax collection.
The recent Group of Seven summit in Hiroshima and the subsequent Group of 20 tourism meeting in Kashmir underscored the stark contrast between the two groups’ rhetoric. While the G20 emphasized its “one Earth, one family, one future” motto, the G7’s combative attitude could be summarized as “We
Viet Nam's economic growth continued to face challenges which were seen in a slowdown in industrial production and declining exports due to weak external demand and global uncertainties, the World Bank’s June edition on Vietnam Macro Monitoring showed.
On 19 June, the WTO circulated the panel report in the case brought by Japan in “China — Anti-Dumping Measures on Stainless Steel Products from Japan”
Four specialty Vietnamese fruit are now available in UK.
The six economies of ASEAN, including Malaysia, Singapore, Thailand, Indonesia, the Philippines, and Vietnam are predicted to grow by 4.2% this year, far exceeding the projected global GDP growth of 2.0%.
Orders to China boomed, and businesses expanded to new Vietnamese fruit and vegetable markets. This year's vegetable and fruit exports will reach 4.5 billion USD, even earning nearly 5 billion USD.
Seafood exporters are seeing orders plummet and facing even greater difficulties than during the Covid-19 pandemic.
Viet Nam should prioritize investments in digital and green technologies, infrastructure, and in human capital to help promote sustainable long-term development, suggested the World Bank (WB).
China has been pushing for membership in a high-level Asia-Pacific trade and investment pact and will step up efforts to attract foreign investment, said the country's top trade negotiator.
Statistics from China Customs show that the country's seafood import demand is recovering strongly after opening in early 2023. However, Vietnam's seafood exports to this market have not recovered yet. This can be explained by market factors as well as internal reasons
The Regional Comprehensive Economic Partnership (RCEP) officially entered into full force on June 2, 2023. This event marks the full effect of this Agreement for the 15 signatories.
Coffee prices are soaring in the domestic market. However, producers and exporters are worried as the EU has adopted the EU Deforestation Regulation (EUDR) which may affects Vietnam’s exports to the market.
The State Bank of Vietnam (SBV) is cutting down a series of key interest rates by 0.25%-0.5% from June 19, which is expected to make a double impact on the economy thanks to stronger credit activities and higher liquidity.
Delegates from EFTA – Iceland, Liechtenstein, Iceland, Norway and Switzerland – and Thailand convened in Oslo from June 13 to 16 2023 for the fifth round of negotiations towards a comprehensive free trade agreement.