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9M trade surplus at $6.5bln
Business

9M trade surplus at $6.5bln

Trade turnover reached over $558 billion in the first nine months of 2022, up 15.1 per cent year-on-year. Exports totaled $282.52 billion, up 17.3 per cent, and imports $276 billion, up 13 per cent. Trade was therefore in surplus, by $6.52 billion.
Business

Tourism in Mong Cai growing strongly

Nearly 868,000 tourists visited Mong Cai city in northern Quang Ninh province in the first nine months of 2022, an increase of 9.2-fold over the same period of 2021. The city will accelerate the completion of tourism planning and projects in the fourth quarter and quickly reopen border tourism to those entering or leaving through Mong Cai International Border Gate.
Business

Sustainable development the target in fisheries industry

According to the Directorate of Fisheries, the orientation in the fisheries industry is to reduce the catch and increase the output of marine aquaculture. To meet the target of seafood export turnover reaching $14-16 billion by 2030, it is necessary to introduce a major change in management along with preferential policies that are strong enough to support a large-scale aquaculture industry.
Logistics industry in need of improvement

Logistics industry in need of improvement

A number of EU logistics providers are now operating in Vietnam, such as DHL Group, Kuehne + Nagel, and DB Schenker from Germany and Maersk from Denmark. This brings many opportunities for cooperation and development to Vietnamese logistics enterprises, but also creates a competitive challenge, meaning domestic businesses need to improve their capacity.
Insurtech growing in potential

Insurtech growing in potential

Vietnam’s insurance technology (insurtech) market, which accounts for only 2-3 per cent of total revenue in the insurance market, has a lot of potential to develop. A representative from one insurtech company said the local market is expected to soon reach into the tens of billions of dollars, and the comprehensive application of digitalization in the insurance industry will drive sustainable market growth.
Exporters also hit by exchange rate fluctuations

Exporters also hit by exchange rate fluctuations

The appreciation of the USD against the VND is generally of benefit to exporters, but will also prove disadvantageous if these businesses import raw materials, resulting in higher import costs and transportation costs, and financial difficulties if they have taken out loans in the dollar. Currency fluctuations also trigger inflation in Vietnam’s key markets, reducing purchasing power and significantly affecting export orders.
Issues persist in aviation law

Issues persist in aviation law

After consulting with businesses and analysts on a draft report on the implementation of the Vietnam Civil Aviation Law, the Vietnam Chamber of Commerce and Industry (VCCI) has made a series of comments. Analysts believe there are still many inadequate regulations on civil aviation when the State intervenes in production and business plans or restricts aircraft procurement activities, hindering the development of the sector. To solve the problems, the VCCI made two important suggestions relating to utilizing the resources of enterprises and aircraft parking issues.
Passenger transport growing strongly

Passenger transport growing strongly

According to the Ministry of Transport, the transportation market grew well in all fields in the first nine months of 2022, especially passenger transport. Passenger transport by air increased 162 per cent, by railway 176 per cent, and by waterway 12.5 per cent.

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