Business News

Trade remedies should be utilised more and in a more effective way to ensure fair competition and protect domestic production in the context of Việt Nam’s deeper integration into the global economy through more free trade agreements (FTAs), according to experts.

It is possible to keep the inflation under 4 percent this year but inflationary pressure is expected to be great next year, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong told the National Assembly’s Q&A session on November 12.

Revenue from goods exports to the United States amounted to US$76.8 billion between January and October, up 23.1% year-on-year, according to statistics from the General Department of Vietnam Customs.

While most listed foreign-invested enterprises (FIEs) were in the red, only Siam Brothers Vietnam JSC and Tung Kuang Industry JSC reported increases in after-tax profit by 18 and 56 per cent respectively, according to the State Securities Commission (SSC).

Amid a protracted COVID-19 outbreak, socio-economic data in October showed the contraction has bottomed out and Vietnam's economy has made positive changes, the World Bank (WB) in Vietnam said in its Vietnam macroeconomic update for November released on November 12.

After Resolution 128/NQ-CP took effect on October 11, 2021, pandemic prevention and control across the country entered a new phase and businesses focused on post-lockdown recovery with caution.

Since Vietnam joined the World Trade Organisation (WTO) 15 years ago, the country has made big strides on the path of international integration, confidently joining the global playground. The country's total import-export value increased by 6 times over 2006, reachng 545 billion USD in 2020.

Việt Nam has gained strong growth in trade since it joined the World Trade Organisation (WTO) 15 years ago, according to the Ministry of Industry and Trade (MoIT).