Vietnam’s durian exports are expected to see a boom in the time ahead when the durian harvest season reaches its peak, according to the Ministry of Agriculture and Rural Development.

Vietnam should make changes to its legal system, speed up administrative reforms, and cut off sub-licences to better facilitate Korean investors, said Hong Sun, Chairman of the Korea Chamber of Business in Vietnam.

The trade turnover between Vietnam and the United States have significantly decreased during the first four months of the year, according to the Ministry of Industry and Trade, Specifically, the country’s exports to the demanding market in the reviewed period fell 21% to US$28.45 billion on-year, accounting for 26% of total export turnover while the import turnover of goods from the US also dropped 11.9% to US$4.08 billion.

With the export of several agricultural products such as rubber, coffee, and pepper gradually recovering, there remains a positive outlook ahead for export growth to major markets in the second quarter of the year, according to details given by the Ministry of Industry and Trade. Statistics from the China Customs indicated that Chinese rubber imports from the country in the first quarter of the year reached 416,520 tonnes worth US$562.66 million, representing a rise of 15.2% in volume.

A Vietnamese diplomatic delegation on Saturday afternoon visited a Russian market and met with overseas Vietnamese traders there to be briefed on their business performance, which has been negatively affected by an economic slowdown in Russia.

The Government yesterday said the impending free trade agreement (FTA) with Thailand will be inked within the first quarter of 2024, to boost exports from the country by three folds to $ 1.5 billion.

Vietnam’s rice exports rose strongly by nearly 45% in value in the first months of the year, while many enterprises did not have sufficient rice to export, given the increasing global demand for food.

The Vietnamese Embassy in Washington DC working in co-ordination with the strategic consulting firm The Asia Group organized a meeting on May 4 with Vietnamese businesses attending the 2023 SelectUSA Investment Summit.

US and EU continuing to experience high inflation and slowing real estate markets.

The recent removal of bidding rules by the Vietnamese government is expected to accelerate the entry of Korean medical device companies into the Vietnamese market, industry watchers said.