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FDI attraction in six months of 2024As of May 20, 2024, the total newly registered capital, adjusted capital and capital contributions and share purchases of foreign investors stood at over 11.07 billion USD, a year-on-year rise of 2%.Foreign Investors registered nearly 9.54 billion USD in 1,538 new projects, up 46.9% in capital and 18.9%...

The word ‘Glocal’, a portmanteau of global and local, has long fascinated me. Emerging from the Japanese word ‘Dochakuka’, it simply refers to global localization. Another origin of the term comes from the saying, “Think Global, Act Local.”No local strategy is purposely old-fashioned, as some modern thinkers might believe. When local...

Market OverviewThe Vietnamese pharmaceutical market is experiencing significant growth, driven by an expanding middle class, increasing healthcare expenditure, and rising demand for quality healthcare products. The market offers opportunities for both domestic and international pharmaceutical companies, focusing on generic drugs and increasing...

In 2024, the logistics industry is poised for significant transformation driven by technological advancements, a focus on sustainability, and the continued growth of e-commerce. Companies will need to adapt to these changes by embracing innovation, enhancing supply chain resilience, and leveraging data to make informed decisions. The integration...

The supply chain operations in Vietnam are undergoing significant transformation driven by digitisation, infrastructure development, sustainability efforts, and global integration. Embracing these trends will be crucial for businesses to enhance their competitiveness, resilience, and efficiency in the dynamic global market of 2024.Digital...

The Government of Vietnam issued a decree on June 30, reducing the value-added tax (VAT) on goods and services from July 1 to December 31 2024.This move follows a National Assembly resolution adopted on June 29.VAT ReductionThe VAT rate will be reduced from 10% to 8%, a cut that has been in place since 2022. However, this reduction does not...

Economic OverviewVietnam’s import and export activities opened with a $58.49 billion turnover of goods in the first quarter of 2023​ . The central-to-market economy plan has transformed the country from one of the poorest into a lower-middle-income country. Since the Doi Moi reform period, the country’s five-year directive and indicative...

Vietnam’s agrifood export market is expanding, presenting significant opportunities for trade businesses. To thrive globally, enterprises should track market trends, align with regulatory changes, meet compliance standards, and invest in R&D and innovation.Export Performance and Market TrendsVietnam’s agrifood exports reached $24.14...

Vietnam’s deepening international integration underscores the agricultural industry’s commitment to global standards and shared responsibilities. Vietnamese agriculture is diligently translating its efforts into comprehensive actions.Green approach and multi-value integration are core production trends in the Vietnamese agricultural...

Vietnam’s foreign trade has continued to rebound in the first four months of 2024 following a major trade slump recorded in 2023, according to the latest data released by the General Statistics Office (GSO).Both imports and exports witnessed significant growth as demand in key export markets ratchets up and domestic economic activity...