Weekly News Bulletin - No. 03, October 2022
The growth of Vietnam’s national brand value remains a bright spot in national brand building and development, reported by the Ministry of Industry and Trade (MoIT) in Hanoi on October 12. Hoang Minh Chien, deputy head of the MoIT’s Vietnam Trade Promotion Agency, affirmed the Vietnamese brand value is among those with the fastest growth rates in the world in the 2019-2022 period. In rankings, Vietnam jumped from the 42nd position in 2019 to the 33rd in 2021 and the 32nd in 2022.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a new-generation trade pact, was signed by 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam in Santiago, Chile on March 8, 2018. Vietnam's export value to CPTPP member countries increased by 38.7% to USD41 billion over the first eight months of 2022, the Government's report shows. The Southeast Asian nation spent USD35 billion on imports from CPTPP nations during the January-August period, reported by Government officials. With the above figures, Vietnam enjoyed a trade surplus of USD6 billion. Remarkably, Vietnam's exports to Canada and Mexico grew by 32% and 9.2% to USD4.5 billion and USD3.2 billion, respectively.
Last week highlight
Vietnam Software & IT Services Association and Vietnam Blockchain Association (VBA) have announced the Vietnam Blockchain Summit 2022 to be held from October 19 to 20. The summit will also feature 20 conferences, in which VBA speakers and international experts such as NFT, Metaverse and DeFi shall discuss growing trends in global blockchain. The global blockchain market was valued at over USD5.9 billion in 2021 and is expected to grow at a compounded annual rate of 85.9 per cent between 2022 and 2030. Meanwhile, Vietnam's blockchain market is estimated to be worth USD2.5 billion by 2026, five times higher than the figure in 2021.
Let’s look at some other key financial and business headlines during the past week
- Vietnam’s national brand value rising: official
- Vietnam’s exports to CPTPP countries up 38.7% in January- August period
- Vietnam Q3 GDP growth up 13.67% y/y on rebound in manufacturing
- APEC workshop seeking solutions to supply chain risks
- Vietnamese merchant fleet to handle 20% of imports & exports by 2030
- ASEAN meeting discusses direction and roadmap for 5G deployment
- Vietnam among most successful economies globally: Honorary Consul of Vietnam in Belgium
- Remote workers in Vietnam prone to most cyber attacks in SE Asia: Kaspersky
- Brand building goes hand-in-hand with social responsibility
- Quang Ngai invests in seaport infrastructure
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