Vietnam’s rice exports are poised to reach a record 9 million tonnes in 2024, with nearly 8.5 million tonnes already shipped in the first 11 months. In November alone, 700,000 tonnes were exported, valued at approximately $444.9 million. The Philippines remains the largest importer, accounting for 46.1% of the market share, followed by Indonesia and Malaysia. This surge has propelled Vietnam’s rice export value to exceed $5 billion for the first time, with an average export price of $627.9 per tonne, marking a 10.6% year-on-year increase.
Vietnamese ETFs Experience Significant Net Capital Outflows
In November, Vietnamese exchange-traded funds (ETFs) saw net capital outflows totaling over 1.34 trillion VND ($52.8 million), bringing the cumulative outflows for the year to more than 20.3 trillion VND. Major funds such as VanEck Vector Vietnam ETF and DCVFM VN30 ETF experienced substantial withdrawals. Conversely, KIM Growth VN30 ETF and SSIAM VNFIN Lead ETF recorded net inflows of over 34 billion VND and 16 billion VND, respectively. Foreign investors continued to increase net selling activities, with total net sales exceeding 11.8 trillion VND in November.
Vietnam’s Stock Market Faces Challenges Amid Global Economic Uncertainty
Vietnam’s stock market has encountered challenges due to global economic uncertainties. The resurgence of the dollar index following the U.S. presidential election and concerns over potential import tariff hikes have led to increased inflation risks in the U.S., affecting investor sentiment. Additionally, rising U.S. government bond yields have widened the gap with Vietnam’s 10-year government bond yields, influencing foreign investment decisions.
Vietnam’s Handicraft Sector Aims for $5 Billion in Exports by 2025
Vietnam’s handicraft sector is targeting $5 billion in exports by 2025. The sector currently exports to 163 countries and regions, with the U.S. being the largest consumer, accounting for 35% of annual export turnover. The Ministry of Industry and Trade emphasizes increasing product value and participating in international trade fairs to secure stable markets. The sector aims to focus on competitive commodity groups and improve product quality to meet the demands of middle and high-end markets.
Vietnamese Clams Receive ASC Certification
Meretrix lyrata clams from Nam Dinh province have obtained their first Aquaculture Stewardship Council (ASC) certification. This achievement enhances the international market presence of Vietnamese clams, which are popular in the EU, U.S., Japan, and South Korea. The certification process involved collaboration among Lenger Seafoods Vietnam, the International Collaborating Centre for Aquaculture and Fisheries Sustainability (ICAFIS), and local authorities. Despite challenges such as technical barriers and stringent certification requirements, this milestone is a significant advancement for Vietnam’s aquaculture sector.
Austrian Businesses Show Continued Interest in Vietnamese Consumer Goods
Austrian firms have expressed sustained interest in importing key Vietnamese export commodities, including consumer goods, garments, textiles, and coffee. The enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) has created opportunities for Vietnamese products to penetrate the EU and Austrian markets, largely due to the removal of import duties. Vietnam’s strategic location, skilled workforce, and infrastructure have attracted Austrian investments, with companies like Delfort investing in the country since 2015. The Vietnamese Embassy in Austria is facilitating stronger business ties to expand market share and accelerate trade turnover between the two nations.
Vietnamese Securities Firm Secures $85 Million Foreign Unsecured Loan
SSI Securities Corporation, a leading Vietnamese securities firm, has secured an $85 million unsecured loan from a consortium of nine foreign banks led by the Union Bank of Taiwan. This 12-month loan is the largest amount a Vietnamese securities firm has received from foreign banks to date. The funds will be allocated to enhance securities services and bond dealing, aiming to improve competitiveness and optimize capital resources. As of September 30, 2024, SSI’s charter capital reached over 6 trillion VND, with total assets valued at nearly 27 trillion VND.
Singapore to Launch Travel Corridor for Business Travelers
Singapore is set to introduce a new travel lane for business travelers on short-term stays to aid the recovery of its tourism sector. The Connect@Singapore initiative will be open to a limited number of business, official, and high economic value travelers from all countries for stays of up to 14 days. Applications are expected to open in mid-January 2025. Participants will be required to stay at designated facilities, undergo regular testing, and adhere to prevailing Safe Management Measures. This initiative aims to balance economic activities with public health considerations.
Seminar Discusses Facilitating Green Growth
A seminar held in Hanoi focused on integrating sustainable development and green growth goals into socio-economic development plans of centrally-run cities and provinces. The event, part of a macro-economic reform and green growth facilitation project funded by the German Government via the German Agency for International Cooperation (GIZ), emphasized the need for specific goals and budgets to achieve sustainable development. Participants highlighted the importance of enhancing social welfare, ensuring comprehensive economic growth, and promoting green industrial production and lifestyles. The seminar underscored the necessity of a legal framework for socio-economic development planning and the pooling of international and private financial resources.
Trade Portal Launched to Boost International Trade Procedures
The Vietnam Trade Promotion Agency (VIETRADE) has launched the Info Viet-Trade Portal to facilitate international trade procedures in Vietnam. The portal provides a step-by-step description of import and export procedures, ensuring compliance with the WTO Trade Facilitation Agreement. Available in English and