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Update news MoIT
VietNamNet Bridge - Vietnam has been trying to develop support industries for 30 years, but is still finding it difficult to squeeze into the global supply chain.
Increasing the localization ratio and reducing production costs are vital issues for Vietnam’s automobile industry. As Vietnam is one of the worlds’s largest tungsten producers, it could be material that could help revive the auto industry.
VietNamNet Bridge - Foreign brands have been flocking to Vietnam, creating a “franchise wave” in which more Vietnamese are taking part.
VietNamNet Bridge - Vietnamese spend an average of $4 a year per capita on beauty products and services, while women spend VND140,000 (nearly $6) a month.
The current two-way trade turnover between Vietnam and most of the CPTPP member countries is $1 billion or more.
The newly inked Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to greatly help its member countries, especially in the context of the spread of protectionism.
VietNamNet Bridge - About 1 million tons of cheap DAP fertilizer imports, mostly from China, have been flooding through the border gates in the north every year.
VietNamNet Bridge - Importing Australian cows to fatten and slaughter domestically was once a profitable business, but has changed dramatically in recent years.
Seafood, vegetables and fruit exports have had the highest growth rates of exports for many years, while Vietnam’s industrial exports by foreign invested enterprises (FIEs) have earned the most revenue.
One of the targets set in government Resolution 36a was to have Vietnam among the top three countries in ASEAN in OSI (Online Service Index) and EGDI (E-government development index) by the end of 2017.
VietNamNet Bridge - More than one-third of Vietnamese households shop at convenience stores or minimarts 10 times a year, according to Kantar Worldpanel.
VietNamNet Bridge - A report from USAID found that by the end of July 2017 hundreds of solar power projects had been committed which have a total capacity of 17,000 MW.
The development of coal-fired power plants in Vietnam depends largely on foreign financial resources, especially China.
According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the US, Australia, South Korea and the EU.
Vietnam maintained a trade surplus of about US$2.7 billion this year, the same figure as 2016, according to the General Statistics Office (GSO).
Small and medium sized firms are being crushed and elbowed out in the increasingly fierce competition to become a supermarket supplier.
Vietnam's agricultural, forestry, and fisheries (AFF) exports have seen spectacular performance in certain product categories and markets.
This week, Vietnam exported 2 tons of star apples to the US for the first time. This marked a positive growth of Vietnam’s fruit sector in expanding its export market.
Russian automobile manufacturers (KAMAZ, GAZ, and UAZ, among others) will collaborate with Vietnamese partners to establish joint ventures to manufacture and assemble automobiles and trucks.
VietNamNet Bridge - Chinese wooden furniture enterprises are considering setting up their production bases in Vietnam, raising worries among domestic manufacturers.