Vietnam has spent around US$2.6 billion on importing 36.5 million tons of coal in the first seven months of this year, up 50% in volume year-on-year.
Prime Minister Nguyen Xuan Phuc has signed a resolution to promote the development of support industries with the aim of having 2,000 enterprises capable of directly supplying parts for multinational corporations in ten years.
In the first half of the year, the number of cars imported to Vietnam increased by 500 percent, while some models saw a sharp increase of 650 percent compared with the same period last year.
Vietnam has vowed to prevent and discover origin fraud in an effort to protect domestic production.
Domestically-made drugs have met nearly half the demand of Vietnamese people in treatment and prevention of diseases, while the country has successfully produced 12 out of 13 types of vaccines used nationwide.
Many experts have raised concerns about the import of thousands of containers of plastic, and proposed raising fees for importing plastic waste to Vietnam and then using it as materials.
Despite the negative impacts of the US-China trade war on the global market, Vietnam is expected to see a new record in trade turnover this year, thanks to a rise in both exports and imports, given surging domestic production and export prices.
Vietnam’s total import-export value in the first eight months of this year reached more than US$308 billion, a year-on-year rise of 13%, according to the General Department of Vietnam Customs.
The automobile market is expected to change dramatically from now to the end of this year as the production of cars in Vietnam starts to recover.
Ho Chi Minh City’s total retail and service revenue in the first six months of 2018 is estimated at VND502.55 trillion (US$22.11 billion), up 11.7% over the same period last year.
Wooden furniture manufacturers have been warned that they will face more trade barriers as export markets have applied new policies to restrict imports.
The Turkish Ministry of Economy has received a request for a second sunset review of anti-dumping measures applicable to Vietnam’s V-shaped conveyor belts (V-belt), according to the Vietnam Trade Office in Turkey.
The gross domestic product (GDP) growth in 2017 is estimated to expand by 6.81%, surpassing the Government’s set target of 6.7%.
Following the implementation of a provisional tax on imported fertilisers, more things need to be done to help balance benefits of both local producers’ and farmers’ benefits, industry insiders have agreed.
The Ministry of Industry and Trade has issued Decision No. 1682A/QD-BCT on launching safeguard investigations against imported DAP fetiliser products.
Indonesia, the world's fourth most populous country and a major buyer of Vietnamese rice, has not returned to Vietnam for new purchases this year, while its overall 2017 rice imports are forecast to halve to around 500,000 tons thanks to better domestic production, according to industry reports.
Vietnam was estimated to have an import-export value of US$89.36 billion in the first three months of 2017, with the figure for March alone hitting about US$33.7 billion, said the General Department of Vietnam Customs.
Production and business in the third quarter was stable and better than the second quarter, according to the General Statistic Office (GSO).
Ho Chi Minh City’s economy in the first half of this year grew stronger than the same period last year, especially in the fields of services, industry and agriculture.
The southern province of Dong Nai has so far this year attracted 33 new foreign direct investment (FDI) projects, with nearly half of them poured into support industries such as mechanical engineering and garment.