VIỆT NAM’S SOLAR EXPORTS HIT WITH US DUTIES OF UP TO 542.6 PER CENT
The US has officially imposed steep tariffs on solar energy products imported from four Southeast Asian countries, including Việt Nam, Malaysia, Thailand and Cambodia. The tariffs unveiled on Apr 21 vary widely depending on the company and country, but were broadly higher than the preliminary duties announced late last year.
ASEAN, AUSTRALIA AND NEW ZEALAND’S UPGRADED FREE TRADE AREA DEAL ENTERS INTO FORCE
An upgraded agreement between Asean, Australia and New Zealand entered into force on April 21, enhancing business opportunities across a free trade area of over 703 million people, with a combined gross domestic product of more than US$5.6 trillion (S$7.3 trillion). The deal to upgrade the Asean-Australia-New Zealand Free Trade Area (AANZFTA) was signed in Indonesia in August 2023 to promote opportunities in areas such as e-commerce, investment, services, sustainable development, consumer protection and government procurement.
AGRICULTURAL EXPORT MARKETS DIVERSIFY
Vietnam is stepping up efforts to boost agricultural exports as it seeks to diversify its overseas markets and deepen economic ties with key partners. During a bilateral meeting on the sidelines of the 150th Assembly of the Inter-Parliamentary Union in Uzbekistan last week, Vietnamese National Assembly Chairman Tran Thanh Man met with Vice Chairman of the Standing Committee of the National People’s Congress of China Losang Jamcan.
TOWARD MODERN URBAN AGRICULTURE
The city's agriculture has recovered and transformed into an urban agricultural model, with an emphasis on digital transformation and high-tech application in production. In 2024, the value of agricultural, forestry and fishery production exceeded VND19,900 billion, 0.2% higher than a year earlier. In particular, agricultural exports have grown despite difficulties, with 13 million heads of ornamental fish and nearly 6,000 crocodile skins and products
PRIVATE SECTOR TOUTED AS KEY DRIVER OF ECONOMIC GROWTH IN VIETNAM
The private sector is seen as the most important engine of Vietnam’s economy in draft documents for the 14th National Congress of the Communist Party of Vietnam, according to Prime Minister Pham Minh Chinh. Speaking at a national conference on April 16, Chinh highlighted updates in the draft political report, which lays out priorities for the country’s socio-economic development from 2026 to 2030.
DOMESTIC MOTORCYCLE MARKET BREAKS THROUGH IN Q1 OF 2025
The local motorcycle market is experiencing a significant recovery in the first quarter of 2025, with sales surpassing 673,000 units, reflecting an impressive increase of 11.48 per cent compared to the same period last year. A total of 673,055 motorcycles were sold in the first three months of 2025, signalling a rebound after a period of stagnation.
CHINA TO INCREASE FARM IMPORTS FROM VIETNAM
General Secretary of the Communist Party of China and President of China Xi Jinping said on Monday that China is willing to boost the import of Vietnamese agricultural products and support high-quality Chinese investment in Vietnam. Xi made the remarks during his meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on April 14, as part of his April 14-15 state visit to Vietnam on the occasion of the 75th anniversary of diplomatic relations between the two countries.
TOTAL REGISTERED FOREIGN INVESTMENT INTO VIETNAM UP BY 34.7% IN Q1
As of March 31, 2025, total registered foreign investment into Vietnam, including new registrations, capital adjustments, and capital contributions/share purchases, reached 10.98 billion USD, marking a 34.7% increase compared to the same period in 2024.
