Vietnam’s exports in 2019 maintained solid growth despite a global slowdown amid great economic vulnerability around the world. But in the new year, the global and regional situations remain unpredictable, exerting significant impacts on many economies, especially developing countries like Vietnam.
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The Resolution 02/NQ-CP of the Government on continuing to carry out the main tasks and solutions to improve the business environment and enhance national competitiveness in 2020 continues to request reducing the number of goods in the list subject to specialised inspection.
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2019 will be the fourth consecutive year that Vietnam has a trade surplus of about US$9 billion. In the context of difficulties – the globaleconomy grows slowly, global trade decelerates, exports of countries in the region have decreased compared to the same period last year, Vietnam's export results in 2019 are really impressive.
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Việt Nam needs a “revolution in its policy-making mind-set” before it can take advantage of the fourth industrial revolution, said Phạm Xuân Hòe from the Banking Strategy Institute, at a forum in Hà Nội yesterday.
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The first day of the New Year, known as Tet in Vietnam, falls on January 25 and signals the beginning of a new day. At the start of the year, Hanoi is wasting little time to shine a global spotlight on its position, prestige, and responsibility as the new chair of Association of Southeast Asian Nations (ASEAN) and as a non-permanent member of the UN Security Council.
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Finally, Vietnam has fulfilled its long-held dream of becoming a non-permanent member of the UN Security Council (2020-2021) at the same time as the country chairs 10-member Asean. These dual strategies have high diplomatic value in propelling Vietnam to become a leading member in the future Indo-Pacific scheme of things.
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In 2019, the global economy witnessed a steady deceleration. According to estimates made by the International Monetary Organization (IMF) in October 2019, growth reached only 3.0 per cent compared to 3.6 per cent in 2018, lower than forecasts made in July and April respectively by 0.2 and 0.1 percentage points. Trade flow and foreign direct investment also decreased.
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US investment in Vietnam kept its strong pace in 2019, and is expected to rise further on the back of business improvements and the country’s developments on emerging technology rules.
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As there are many enterprises engaged in import and export activities, with 100 percent foreign investment capital from countries and territories such as Japan, South Korea, China and Europe, Binh Duong Customs Department has implemented many measures to support and facilitate businesses in import and export activities, which are recognized and appreciated by the business community.
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Talking to reporters from Customs Newspaper, economist Le Quoc Phuong said that, despite having four consecutive trade surpluses, but with a processing economy like Vietnam, the worries about the trade deficit situation going back in 2020 is completely normal.
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