Vietnamese Trade and Industry Minister Nguyen Hong Dien has called on the G7 and its partners to immediately limit the erection of trade barriers, especially non-tariff measures that disrupt supply chains for essential goods.

The Republic of Korea (RoK) remains the largest investment partner in Vietnam, with a total registered capital of nearly 87.5 billion USD (accounting for 18% of total investment). The investment from the RoK has been focused on manufacturing and processing industries and expanded into new sectors such as construction, real estate, distribution, and retail.

Germany has increased the import of Vietnamese commodities in the first six months of the year in the context that it reduced imports from other markets, according to the General Department of Vietnam Customs.

In the first six months of 2024, import turnover of goods is estimated to reach US $178.45 billion, up 17% over the same period last year. The import structure of goods in the first six months of the year shows a positive signal when up to 88.8% of the total import turnover is the group of goods that need to be imported.

The Asian Infrastructure Investment Bank (AIIB) is always ready to support Vietnam and has prepared a 5-billion-USD loan to start with supporting the counrty’s infrastructure development, and will further mobilise private sector financing and resources to support sustainable infrastructure development in the country, AIIB President Jin Liqun told the Vietnam News Agency on July 17.

The establishment of an ASEAN ESG Award to honour exemplary ESG practices by listed organisations is also being considered.

Chinese electric vehicle (EV) maker BYD on July 18 officially introduced its brand with three key lines, and announced its strategy in the Vietnamese market.

However, the export to Japan was down 41 per cent in volume and 53 per cent in value compared to the same period last year.

The pepper prices on July 18 in some key pepper producers of Việt Nam continue to be under downward pressure for the third consecutive day, with the domestic pepper price standing around VNĐ148,000 per kilo.

The Republic of Korea (RoK)'s smart farm sector is gaining greater motivation to penetrate the Vietnamese market as a basis for further expansion into Southeast Asia thanks to advanced technology, the Ministry of Agriculture, Food and Rural Affairs (MAFRA) said on July 18.