A quick review at Vietnam Weekly Feature News
1. Q1 exports rise as Vietnam takes advantage of FTAs: Official
Vietnam has been making good use of advantages of the international economic integration process, helping to increase the country’s exports by 22 percent year-on-year and imports by 26 percent in the first quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade.
2. Manufacturing, processing maintains strong growth in Q1
Vietnam’s industry grew 6.5 percent year on year in the first three months of 2020, with the manufacturing and processing sector expanding 9.45 percent and remaining as the main engine of the economic growth.
3. Vietnam welcomes 48,000 foreign experts, diplomats and technical workers in Q1 2021
The number of foreign arrivals to Việt Nam in the first quarter of this year fell 98.7 per cent year-on-year to just over 48,000, as the country’s inbound tourism sector continues to suffer due to the COVID-19 pandemic, according to the General Statistics Office (GSO).
4. Vietnam will resume regular commercial flights with Japan, South Korea and Taiwan
The Civil Aviation Administration of Vietnam (CAAV)’s proposal was put forth after a thorough study of vaccination results as well as the application of “vaccine passport” or called digital green pass and the IATA Travel Pass worldwide. Vietnam will likely resume regular commercial flights with Japan, South Korea and Taiwan (China) from this July in an effort to revive the hard-hit tourism industry.
5. Vinh Long calls for $1.06 billion into 10 key projects
Vinh Long People’s Committee has issued a decision to call for a total of investment VND24.37 trillion ($1.06 billion) into 10 projects. These 10 projects are part of the investment promotion programme of Vinh Long province for this year.
Vietnam Investment Review
6. Nghi Son 2 Thermal Power Plant – Phase 1 connected to national grid
The first 500kV transmission line connecting Nghi Son 2 Thermal Power Plant to the national electricity grid was put into operation on March 26. The Central Vietnam Power Projects Management Board (CPMB0 is co-operating with local authorities in Thanh Hoa and Nghe An to deal with the remaining difficulties in land clearance in order to complete the entire project in May 2021.
Vietnam Investment Review
7. Foreign capital inflow into Vietnam reaches US$4.1 billion in the first quarter of 2021
Disbursement of the foreign capital inflow rose by 6.5% to US$4.1 billion during the January-March period. Foreign Direct Investment (FDI) commitments during the first quarter of 2021 surged by 18.5% year-on-year to US$10.13 billion, a report of Vietnam’s Ministry of Planning and Investment has shown. A lot of new projects have been approved to March 20.
8. Economy off to positive start
Vietnam has begun 2021 with improved GDP growth, foreign direct investment and trade, but the number of suspended businesses remains high.