Vietnam has set lower seafood production and export goals for 2023, acknowledging the toll inflation has taken in denting global demand.

The US sees the participation of other top producers of chipmaking equipment as essential to making its sweeping chip export controls against China effective

It is anticipated that reopening of China’s border could somewhat alleviate Vietnam’s sluggish import and export positions.

The UK-Vietnam Free Trade Agreement (UKVFTA) officially came into force on May 1, 2021. The two countries have seen bilateral trade growth despite the COVID-19 pandemic, and the UK is forecast to remain a promising export market for Vietnamese goods.

Many international organisations forecast that global economic growth would slow down with regions and countries at risk of falling into recession, Hiển said.

Severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries if technology is also decoupled

As many as 18 tonnes of pickled radishes from the northern province of Ha Giang have been exported to the Japanese market for the first time and are expected to arrive in Japan within the next few days.

Although the last months of the year had seen a substantial drop in export orders, the textile and garment industry, as well as the seafood industry, still ended the year with positive results.

Despite headwinds caused by geopolitical tensions, Vietnam has seen solid overseas investment, laying the ground for the country to boost inflows and realise its socioeconomic goals.

The Covid-19 pandemic and geopolitical tensions have disruptions global value chains. This has proven to be both a boon and bane for ASEAN.