This year is believed to be a brighter year for the domestic tra fish industry with exports inching up in the first quarter, according to an official from the Việt Nam Pangasius Association.

Joining new-generation free trade agreements (FTAs) ​​will help Vietnam diversify its economic and trade relations, especially expanding import and export markets, avoiding excessive dependence on a specific region and helping the economy cope better with external fluctuations.

The domestic leather and footwear industry was in good shape to reach its goals this year, according to Phan Thị Thanh Xuân, vice chairwoman and general secretary of the Việt Nam Leather and Footwear Association (Lefaso).

According to the Ministry of Planning and Investment, the manufacturing and processing industry saw a strong increase in foreign direct investment (FDI) capital in Vietnam with registered capital of more than US$12.09 billion, accounting for 72.2 percent of total newly-registered capital and South Korea continued to be the largest investor.

The automobile market is expected to boom this year as the Government mulls a number of favourable policies to help reduce costs, improve demand and increase output.

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Vietnam has reaped impressive economic successes in 2019 and is expecting a bumper crop this year. Raymond Mallon, senior economic advisor to the Australia-Vietnam Economic Reform Program, analyses these achievements and discusses priority actions needed for Vietnam to become a more prosperous nation in the coming decades.

South Korea will attend a high-level meeting on a mega Asia-Pacific trade pact this week as part of its efforts to expand its trade network around the globe.

SSI Securities Cooperation estimates that the export turnover of the Textile and Garment industry will reach US$41.5 billion to US$42 billion in 2020, increasing from 6.4 to 7.7 percent compared to 2019.

In addition to focusing on maintaining traditional markets, the Department of Overseas Labour Administration under the Ministry of Labour, Invalids and Social Affairs (MOLISA) is promoting the development of some new labour markets in Europe, such as those of Bulgaria, Hungary and Germany, aiming to open up more working opportunities for Vietnamese guest workers.