Business News

China has remained Vietnam’s biggest trade partner, while Vietnam has continued to be the sixth largest trade partner of the neighbouring country, and the biggest in ASEAN despites impacts of the COVID-19 pandemic and geopolitical upheavals in the world. Two-way trade was valued at 165.8 billion USD in 2021, up 24.6% from the previous year.

In the January-October period, 125,800 businesses were established with total registered capital of VND1,379 trillion and 835,000 employees, according to the General Statistics Office. Compared to the same period last year, the number of businesses rose 34.3%, capital increased 5.7% and employment increased 18%.

The demand for warehousing space is increasing dramatically as consumers' purchasing power is hiking up as the year comes to a close. Cushman & Wakefield, a global commercial real estate services company, reported that the occupancy rates for warehouses in HCM City and Hà Nội reached 90 per cent in the first two quarters of 2022.

Although the domestic real estate market has faced certain difficulties in recent years, foreign investors have continuously poured capital into the field. In the first 10 months of 2022, foreign investors poured $3.87 billion into the real estate sector, bringing it to second position in total foreign direct investment (FDI) in Vietnam.

Although the total export value in the first three quarters of the year increased robustly and resulted in a high trade surplus, many of Vietnam’s exports are forecast to face unpredictable challenges in the coming time.

1. Outstanding real estate loans down by VND7,000 billion
2. Measures needed to combat money laundering
3. Vietnam digital economy growth expected to be highest in Southeast Asia
4. Industrial production index up 9pct in 10 months
5. Garment makers likely to hit export target amid challenges
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1. Gauge calibration pressure table supply
2. Mechanical materials supply
3. Adjuvant medicine supply
4. Mine shooting equipment supply
5. Consumable materials supply
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