The Korean Chamber of Business in Vietnam (KOCHAM) revealed on August 16 that over 300 out of 1,800 enterprises within Vietnam's supporting industrial sector have engaged in the worldwide supply chain of Korean end-product manufacturing businesses.
The Ministry of Industry and Trade has just informed that the Directorate General of Foreign Trade continued to prohibit the export of de-oiled rice bran from July 28 until November following a recent ban on white rice export.
A conference on connecting trade and goods export promotion among enterprises from Thanh Hoa to Thua Thien Hue Province with their export partners in Laos and Thailand was held yesterday in Dong Hoi City, Quang Binh Province.
Over 7,500 enterprises have registered to suspend business operations for a certain period and complete dissolution procedures since the beginning of this year.
Forty percent of Vietnamese enterprises exporting to the EVFTA market benefit from tariff preferences for import and export goods, thereby increasing orders, revenue, and profits.
Even though the Covid-19 pandemic is well over and businesses are making efforts at recovery so that production can continue and jobs can be retained, other factors have now come into play.
The Ministry of Industry and Trade, on November 18, held a seminar with the theme "Exporting to FTA markets - Solving the problem of sustainable development". More than 300 export enterprises in many sectors and industries in the South and enterprises from the EuroCham and AmCham attended the program.
Deputy Minister of Industry and Trade Do Thang Hai recently led a delegation of Vietnamese enterprises to the US to meet local officials and businesses to foster bilateral trade and investment links.
The People's Committee of Ho Chi Minh City, on March 17, coordinated with the Consulate General of India in HCMC to organize the "Second Edition of India - Vietnam Business Forum". The forum, which attracted the participation of more than 300 enterprises from the two countries, is an opportunity for domestic enterprises to seek investment opportunities, as well as expand their export market share in a market with a population of more than 1.3 billion people.
The Ho Chi Minh City Union of Business Association (Huba) yesterday held a ceremony to honor typical Vietnamese products and services of HCMC in 2021 themed “Creativity – Innovation – Brand Enhancement” which attracted the participation of over 200 local and foreign enterprises.
The Ministry of Industry and Trade (MoIT) coordinated with the American Chamber of Commerce and the US - ASEAN Business Council to organize the Vietnam - US Trade Forum 2021 on December 7.
Vietnam is currently facing 208 trade remedy lawsuits, and this figure is expected to increase sharply in the coming time, causing the market share of Vietnamese goods to be at risk of shrinking in many export markets.
Investment and trade cooperation between Vietnam and Middle Eastern countries have achieved many encouraging achievements. However, there is still a lot of work for Vietnamese enterprises to do to conquer this potential market besides capacity, prestige and understanding habits of consumers.
Despite being affected by the Covid-19 pandemic, over the past time, the picture of merger and acquisition (M&A) deals in Vietnam still has bright colors. M&A activities in Vietnam are forecasted to be vibrant again when the pandemic is gradually controlled.
The Ministry of Industry and Trade, on October 27, coordinated with the European Chamber of Commerce (EuroCham) to organize the Vietnam-EU Trade Forum in 2021 titled "EVFTA – Leverage for Trade and Investment Cooperation in the New Normal’. The meeting attracted more than 300 delegates from many provinces, cities, commercial counselors, domestic and European enterprises.
Eighteen percent of orders of European enterprises have moved out of Vietnam. Previously, many large FDI enterprises of Japan and South Korea had also informed Vietnamese enterprises producing supporting industrial products about moving some orders to neighboring countries. To avoid the risk of disruption in the domestic supply chain, Vietnamese enterprises have applied many solutions to maintain production.
Vietnam's exports of non-alcoholic drinks to Australia rose 59 percent in the first half of 2021, with the products (excluding canned coffee) reeling in over US$9.5 million in revenue.
According to the Trade Promotion Agency under the Ministry of Industry and Trade (MoIT), many orders from foreign enterprises have been sent to domestic exporters. However, the disruption of circulation, especially the circulation of goods at seaports, along with the reduction in production capacity of enterprises has caused many domestic enterprises to hesitate to receive orders.
By the afternoon of July 13, Ho Chi Minh City has 15 out of 16 export processing zones and industrial parks (EPZs-IZs) and the Saigon High-Tech Park (SHTP) hit by the Covid-19 pandemic. Many enterprises have had to suspend production activities, affecting the guarantee of delivery time, especially export orders.
In the first four months of this year, export turnover to the US market had continuously seen sharp increases, maintaining the growth of over 20 percent over the same period. This is not beyond the expectation of enterprises. Besides the advantages that Vietnamese enterprises have got in their hands, the commercial counselor of the Vietnam Trade Office in the US also warned that this market is containing many great risks.
