The Ramky Group’s intention to build a hi-tech waste treatment plant highly matches the demand and development orientations in the city and Vietnam as a whole, Hoan said, adding that HCM City highly values Indian businesses’ experience and technological capabilities in waste treatment. It is always ready to create the best possible conditions for Indian firms to invest in industrial park infrastructure and convert old industrial parks into the ones that apply modern and advanced technologies. The host official said HCM City welcomes Indian enterprises coming to explore opportunities and make long-term investment and business. Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan on May 4 met with Alla Ayodhya Rami Reddy, a member of the upper house of India, who was leading a business delegation, including representatives of the Ramky Group, to the city to explore cooperation chances in waste treatment. HCM City looks to bolster waste treatment cooperation with Indian firm Tourism has significantly contributed to Vietnam’s economy, making up 9.2 percent of the national gross domestic product (GDP) last year, the article said. Tim Lee Lahaphan, an economist from Standard Chartered Bank, said more and more foreign firms have planned to move their supply chains to Vietnam that is dubbed as a centre of electronics, garments-textile and footwear in the region, the article noted.Īpart from production and trade, the domestic tourism is also bouncing back, the article said, adding that since mid-March, Vietnam announced its complete resumption of tourism activities. It also highlighted Vietnam’s export of electronic products, especially mobile phones, garments-textiles and timber products. The article cited a forecast by the Asian Development Bank (ADB) as saying that Vietnam’s economy will expand about 6.5 percent this year. The country’s export-import value hit a record 67.37 billion USD in March, of which 34.71 billion USD came from exports, surpassing the previous record in July 2021. However, the Southeast Asian nation has fully opened and shifted to living safely with the pandemic despite Omicron waves this year.
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Germany’s newspaper Finanzmarktwelt has run an article on Vietnam’s full reopening post the COVID-19 pandemic, with rosy signs seen in all sectors.Īccording to the article, Vietnam faced a range of difficulties in the fight against the pandemic last year due to the spread of the Delta variant. German newspaper highlights Vietnam’s post-pandemic economic recovery Vietnam also imported goods from the Republic of Korea, ASEAN, Japan, EU, and the US with respective values of 23.3 billion USD, 16.4 billion USD, 8.2 billion USD, 5.3 billion USD and 4.7 billion USD. In addition, the import of other items also increased sharply such as petroleum products (up 30.3 percent), chemicals (up 29.3 percent), chemical product (26.71 percent), fertiliser (73.3 percent), rubber (34 percent), mobile phones and accessories (20.8 percent).Ĭhina was the largest market of Vietnam in the first four months, with an estimated turnover of 36.78 percent, up 8.3 percent compared to the same period last year. Notably, the import turnovers of gasoline and oil, coal, crude oil and liquefied natural gas surged by 146.9 percent, 123 percent, 63.7 percent and 62.7 percent, respectively. The import of energy products strongly surged, partly due to scarce supply.
In April alone, the figure was estimated to reach 32.2 billion USD, down 1.5 percent month-on-month and up 15.5 percent compared to the same period last year. It reported on May 4 that Vietnam’s total imports expanded 15.7 percent year-on-year to an estimated 119.8 billion USD in the period. Up to 89 percent of the imports in the first four months of this year are raw materials and accessories for domestic production with a combined value of 106.6 billion USD, up 16.8 percent year-on-year, according to the Ministry of Industry and Trade. 89 percent of imports raw materials for domestic production: Ministry
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