Business News

The policy outlines the GDC's objectives to enhance the effectiveness and efficiency of State customs management, align with development and international integration needs, and streamline the import, export and transit of goods, as well as the entry, exit and transit of means of transport.

According to the E-commerce and Digital Economy Agency (MoIT), many Vietnamese consumers are attracted to products on international e-commerce platforms for their low prices and diverse designs. However, these platforms often lack authorization to operate in Vietnam, meaning they are not subject to quality control or supervision by regulatory authorities.

Vietnam's economy grew by 5% in a challenging 2023 thanks to the Government's policies, according to the IMF. Property turmoil, financial stress and sharp decline in exports hurt the economy. Recovery started in late 2023 on reviving exports and tourism, as well as the support of appropriate expansionary fiscal and monetary policies. Inflation rose in 2024 mainly due to rising food prices although core inflation remained relatively low and stable.

Dinh Viet Phuong, CEO of Vietjet, emphasised the importance of these flights, describing them as “green flights” that contribute to the greening of the aviation sector. “As a pioneer in the research, development, and use of SAF, Vietjet is committed to reducing carbon emissions and supporting the sustainable development of the aviation industry,” he said.

A workshop on new approaches to attracting more overseas investment to Vietnam took place at the Vietnam National University in Hanoi on October 31. The event was organised by the Vietnam National University of Economics and Business in collaboration with the Party Central Committee's Economic Commission.

Investment projects from Korean enterprises are primarily concentrated in key sectors such as electronic components manufacturing, automotive and auto parts, textiles, and electronics and semiconductor manufacturing. These industries align with Vinh Phuc province's priorities for attracting investment.

After five years, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has expanded Vietnam's trade with key markets, particularly in the Americas, including Canada, Mexico, Chile and Peru. It has promoted multilateral trade, driven institutional reforms, attracted foreign investment and strengthened Vietnam's international integration.

Vietnam’s textile and garment industry is ramping up production in the final months of 2024 to reach its export target of US$44 billion, according to the Ministry of Industry and Trade. Textile production in September increased by a marginal 0.1% against the previous month but surged by 11.2% year-on-year.