Vietnam overtakes China as largest exporter to U.S.


Vietnam overtakes China as largest exporter to U.S.

In one of the most dramatic shifts in the recent history of furniture imports, Vietnam has overtaken China as the largest exporter of finished goods to the U.S. market. According to Furniture Today research, Vietnam shipped just over $7.4 billion in furniture to the U.S. in calendar year 2020, up 31% from the $5.7 billion…

European firms optimistic about business climate in Vietnam


European firms optimistic about business climate in Vietnam

Leaders of European businesses have started 2021 with optimism about the trade and investment environment in Vietnam, according the Business Climate Index (BCI) for the first quarter of 2021 released by the European Chamber of Commerce (EuroCham) . The index reached 73.9 points in Q1, the highest score recorded since Q3 of 2019, before the…

Vietnam, Hong Kong foster collaboration


Vietnam, Hong Kong foster collaboration

Vietnamese Consul General to Hong Kong Pham Binh Dam was received by Chief Executive of Hong Kong Carrie Lam, as he began his tenure in the Chinese special administrative region. At the reception, the host said as Hong Kong has recovered its stability, the region’s relations with Vietnam are seeing more room for stronger development…

Vietnam Airlines presses on with ambitions for US route


Vietnam Airlines presses on with ambitions for US route

After a tough year for aviation groups, Vietnam Airlines is pinning high hopes on the take-off of direct flights to the United States, with the two countries scaling up preparations to complete the process. At last week’s webinar in Ho Chi Minh City focusing on US-Vietnam cooperation in Vietnamese airport infrastructure development, aviation authorities and…

Nearly 5 billion USD of exports to EU benefit from EVFTA


Nearly 5 billion USD of exports to EU benefit from EVFTA

Almost 5 billion USD worth of Vietnamese goods exported to the EU has benefited from preferential tariffs under the EU-Vietnam Free Trade Agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT). The MoIT said efforts to capitalise on FTAs have resulted in significant outcomes, helping to achieve fast and sustainable export and gradually reduce the dependence on…

VinFast chooses Nvidia SoCs for its electric vehicles


VinFast chooses Nvidia SoCs for its electric vehicles

VinFast has announced the official names of its three upcoming electric SUVs that were first revealed in concept form last year. The smallest of the trio is the VF e34 (previously the VF31) that occupies the C-segment, which followed by the VF e35 (previously the VF32) in the D-segment and VF e36 (previously the VF33) in…

HCMC works to attract investors


HCMC works to  attract investors

HCMC is taking urgent steps to tackling any and all difficulties to create a favorable business environment and encourage investors to stay. The city is now home to 440,000 registered enterprises, 96.4 percent of which are domestic concerns and the remainder foreign-invested. The non-State economic sector contributed 54.7 percent to the city’s GDP last year…

Vietnam’s GDP expands 4.48% in Q1 under Covid-19 impacts


Vietnam’s GDP expands 4.48% in Q1 under Covid-19 impacts

The GDP growth target of 6.5% for 2021 is a challenge for the country, which requires strong efforts from the government, business community and people. The Covid-19 pandemic continued to impact Vietnam’s socio-economic performance in the first quarter of this year, leaving the country’s GDP growth in the first quarter (Q1) of 2021 at an…

Ho Chi Minh City eyes 108 billion USD in exports by 2030


Ho Chi Minh City eyes 108 billion USD in exports by 2030

Ho Chi Minh City is striving to earn 70 billion USD in export turnover by 2025 and 108 billion USD by 2030, and maintain an average annual export growth of 9 percent during 2026-2030. The municipal People’s Committee sets the targets at its recently-approved plan on developing export by 2025, with a vision to 2030….

Who will take over as The World’s Factory?
“Vietnam and Cambodia,” says Harvard Professor


Who will take over as The World’s Factory?  “Vietnam and Cambodia,” says Harvard Professor

Gordon Hanson, professor of economics at Harvard Kennedy School, considers Vietnam and Cambodia the biggest contenders to replacing China as the next World’s Factory. “Both countries has seen phenomenal export numbers. In 2020, Vietnam’s recorded a trade surplus nearly doubled the surplus in 2019,” Ivan Yam, Director and Partner of Golden Emperor comments. Vietnam is…