With a growth rate of about 20% per year, Vietnam is ranked among the top five countries with the world's top e-commerce growth.

A challenging external environment and weaker domestic demand is leading to a slowdown in economic growth in Vietnam, but the economy will pick up pace in the second half of 2023 and the following years, the World Bank said in an economic update released on August 10.

The World Bank forecasts that Vietnam’s economy will grow 4.7% in 2023, and accelerate to 5.5% in 2024 and 6.0% in 2025.

The Vietnam - Israel Free Trade Agreement (VIFTA), which was signed last month, has opened up new opportunities for Vietnamese goods to enter an important market in the Middle East.

Vietnam’s Trade Counsellor in India Bui Trung Thuong recently recommended businesses to carefully study the information of their partners and verify their reputation before signing contracts so as to avoid trade disputes.

In a report sent to the National Assembly Standing Committee recently, the Ministry of Industry and Trade, authorized by the Government, raised a series of problems related to the fact that it has not been able to provide regulations and conditions on what goods are made in Vietnam. South, applicable to goods circulating in the country.

The trade war between the US and China is up a notch after Beijing imposed export restrictions on raw materials used in manufacturing chips.

Vietnam’s seafood exports value to the CPTPP reached USD 1,12 billion in the first six months of the year, down 22% year-on-year. However, this is a potential market versus the US and China.

There remains plenty of opportunities for Vietnamese rice to expand its market share in the UK amid India, the largest rice exporter to this market, suspending rice exports to the market, said Nguyen Canh Cuong, Vietnamese Trade Counselor in the UK.

In the midst of a global environment covered by the "dark clouds" of war, economic crisis, and natural calamities, ASEAN remains the world's "bright spot" in 2023.