Vietnam gains $200 billion from export for first time

SGGP
2017 is an especially successful year of Vietnam’s export with value exceeding US$200 billion for the first time, equivalent to the growth rate of 21 percent.

Rice bags are loaded aboard for export

Rice bags are loaded aboard for export

That was reported at a conference, attended by Prime Minister Nguyen Xuan Phuc, to review 2017 operations and implement 2018 missions of the Ministry of Industry and Trade in Hanoi this morning.
The growth rate was said impressive as global trade growth was low, many markets returned to the trend of domestic protection and import limitation.
Good import control created a trade surplus of $2.7 billion. This is one of important factors to ensure macroeconomic balances of the economy. Opportunity exploitation from integration commitments were conducted more efficiently than in previous years. Vietnam recorded outstanding export growth rates from markets which the country has signed free trade agreements with.
2017 saw challenges and difficulties but marked basic moves during the industry’s renovation and restructuring.
Minister Tran Tuan Anh said that industrial production posted a strong growth rate with 9.4 percent, much higher than 7.4 percent in 2016 and beyond the target of 7.1-8 percent.
Of these, manufacturing and processing posted high growth rate hitting 14.5 percent. It was 11.2 percent in 2016 and 10.5 percent in 2015. This field created the main motive power for the growth of the entire industry and trade industry in 2017.
Domestic trade continued maintaining growth momentum, together with export and investment to be important supports to the country’s growth target.
Goods and service supply and demand were stable without scarcity in holidays and after floods. Consumer price index was curbed below 4 percent.

Other news

Most view

Vietnam qualified to export catfish to the US

Vietnam qualified to export catfish to the US

The Food Safety and Inspection Service (FSIS) under the US Department of Agriculture recently proposed that Vietnam would be eligible to export catfish and other fish products to the US market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.