Vietnam News Economy

An increasing number of Vietnamese enterprises are showing interest in Saudi Arabia, particularly in the sectors of Việt Nam's advantages and the Middle East country's needs, a diplomat has said.

The transition to electric vehicles (EVs) in Việt Nam represents a complex challenge that requires coordinated efforts across various sectors, according to a World Bank report.

Việt Nam's total import-export turnover reached US$745 billion as of December 14.

The reduction of import tariffs has intensified the pressure, prompting concerns over market share erosion for local manufacturers.

Many dealers are maintaining promotional programmes that include reductions of 50 to 100 per cent on registration fees to attract buyers during the peak shopping season.

Agriculture has always been a strength of Việt Nam with fruits, vegetables and processed products winning over consumers around the world. This has grown due to new generation free trade agreements such as the UKVFTA and EVFTA bolstering export activities. During the final months of the year, businesses have been focusing on fulfilling their year-end export orders, further highlighting the quality of Việt Nam's produce.

Agricultural products, such as rice, fruits and vegetables, are particularly well-positioned under UKVFTA.

The market is banking on the Fed cutting rates by 0.25 basis points at their meeting on December 17-18.

Strategic efforts in legal framework development, market supervision and technological modernisation played a key role in maintaining stability and investor confidence in 2024.

The inventory will be conducted at 100,000 State units across the country.