Foreign direct investment (FDI) into Vietnam has recovered and started to grow again in the third quarter of 2023 after a period of decline. This is a vital driving force to promote Vietnam’s economic growth in 2023 and the following years.

Vietnam exported 259.67 billion USD worth of goods and recorded a trade surplus of 21.68 billion USD in the first nine months of 2023. Although the figure is lower than of the same period last year, exports in the last four months have maintained growth momentum, signalling a positive recovery.

The export of cashew nuts has recorded double-digit growth, establishing it as an agricultural product with an export turnover exceeding US$2 billion over the past time.

China has expressed concern over the European Union's ongoing trade restrictions on steel imports and will closely monitor the bloc's future actions in this regard, said the Ministry of Commerce.

Despite a continued decrease in export turnover in the first eight months compared to the same period last year, the textile and garment industry has shown numerous signs of recovery and opportunities for stronger growth in the remaining months of 2023.

India is launching an anti-dumping investigation into imports of thermoplastic polyurethane (TPU) originating from China.

Vietnamese pangasius exports to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market are anticipated to record positive growth this year, according to details provided by the Vietnam Association of Seafood Exporters and Producers (VASEP).

A US rule that restricts shipments of certain advanced chips to China has been revised and is under final review, according to a government posting, suggesting that further curbs on chips that can be used for artificial intelligence are coming soon.

After a tough period with a continuous decline in orders, from September, seafood producers and exporters have become busier thanks to the recovery of orders for year-end festive season.

The authority urged enterprises to improve the origin traceability and to avoid using materials from China which were subject to duties in the US.