Local businesses are struggling to tap into foreign markets as exports decline year-on-year. Deputy director of the Import and Export Department Trần Thanh Hải talks to VNA about how to improve the situation.

Vietnam might have one of the fastest growing logistics industries in the world, but it remains highly fragmented.

President of the Republic of Korea (RoK) Yoon Suk Yeol and his spouse are paying a state visit to Vietnam from June 22-24 at the invitation of President Vo Van Thuong. This is the first State visit to Vietnam by the RoK President, and Vietnam is also the first Southeast Asian country that the leader has visited since he took office in May 2022.

Despite suffering a year-on-year decrease of 11.1% in the first five months of 2023, agro-forestry-aquatic product exports are expected to rebound in the remaining months of this year thanks to recovery momentum in main export markets, insiders said.

Attracting businesses and investors to pour capital into sustainable agricultural value chains is seen as a key solution to pave the way for, and create breakthroughs in the sector’s development amid intensive integration and the volatile global economy, according to insiders.

Vietnam has exported 2,657 tonnes of pepper to the Chinese market in the first two weeks of mid-June, while eports to the United States and EU fell.

Many Japanese economic experts have recommended making the 50th anniversary of Vietnam-Japan diplomatic ties a milestone to bring the two countries' relations into a new era by promoting private investment in the nation by Japanese enterprises towards common prosperity between both nations.

The amendment of corporate income tax (CIT) incentives helps Vietnam proactively develop solutions to cope with the application of Pillar 2 of the global minimum tax by countries around the world to maintain the attractiveness of the domestic investment environment and limit the application of preferential policies that are not effective.

In a nod to the Kingdom’s green development, APEC host economy – the U.S. has included Thailand’s bio-circular-green (BCG) economic model in discussions on sustainability and inclusive economics at APEC’s summit of trade ministers last week.

A recent article posted on portfolio-adviser.com, a news website based in the UK, has pointed out the frequent hope that Vietnam will be upgraded from its frontier-market status to the emerging market status.