Weekly News Bulletin - No. 01, March 2024

Vietnam has recorded a trade surplus of US$4.72 billion in the first two months of 2024, up 34% from the same period last year.

In the period, the country's total import-export turnover is estimated at $113.96 billion, up 18.6% year-on-year, according to the General Statistics Office.

There are 11 commodities that recorded an export value of over $1 billion each, accounting for 75.1% of the total export revenue. Notably, four commodities see their export value surpassing $5 billion.

Vietnam became the 10th largest trading partner of Singapore in January, with two-way trade turnover reaching over 2.9 billion SGD (2.16 billion USD), up 18.08% over the same period last year, according to the Vietnam Trade Office in the island nation.

The Ministry of Industry and Trade (MoIT) will take measures to promote economic, trade and investment cooperation between Vietnam and five Central Asian countries (C5) of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

Last week highlight

Vietnam has attracted more than US$4.29 billion in foreign direct investment in the first two months of 2024, up 38.6% year-on-year, according to the Foreign Trade Agency. During the period, 405 new projects with total registered capital of US$3.6 billion were granted investment certificates, up 55.2% in volume and doubling the value recorded in the same time last year. Hanoi led all localities in FDI attraction with nearly $914.4 million , up 24.4 times against the same period in 2023.

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Let’s look at some other key financial and business headlines during the past week

  1. Vietnam Gov’t expects action plan for PDP VIII in early March
  2. Vietnam becomes Singapore’s 10th largest trading partner
  3. Vietnam records decade-high trade surplus of $4.72B
  4. Factories report surge in orders
  5. Export recovery gains momentum
  6. Vietnam to lead world's asset growth in next decade: Argentinian newspaper
  7. PM orders SOEs to improve production, business efficiency
  8. Vietnam promotes economic, trade, investment cooperation with Central Asian countries
  9. Vietnam eyes measures to keep hold of big-tech firms

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