Many countries tighten monetary policy to cope with inflation andexpand credit to support the economy during the recovery period. This makes the management of monetary policy, including the interest rate issue of the State Bank of Vietnam (SBV), facing the problem of continued flexibility or tightening.
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The American market has been recovering rapidly after the pandemic and opening many opportunities to promote the exports of Vietnam. However, we are facing four significant challenges.
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According to data from the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports in the first five months of 2022 reached US$4.7 billion, up 44% over the same period last year. All markets achieved between 10%-90% growth and the average selling price increased by 10%-15%. Since March 2022, seafood exports even have continuously gained record sales of over US$1 billion per month.
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If the US Government removing some of the tariffs imposed on products, including tuna products imported from China, competition in the US tuna market will increase and many firms will face losing a market share to China, including Vietnamese enterprises.
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The production and business activities of enterprises in Ho Chi Minh City in the second quarter of 2022 have improved a lot compared to the first quarter of 2022. Ho Chi Minh City is actively offering many solutions to help businesses recover.
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Transforming traditional energy to green and cleaner renewable energy is an integral trend to ensure sustainable economic development. To realize this process, implementing reasonable and stable policies to attract investment in the energy sector is one of the important solutions for the future.
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The added value of the whole industry in the first six months was estimated to increase by 8.48% over the same period last year. In which, the processing and manufacturing industry increased by 9.66%, contributing 2.58% to the increase in total added value of the whole economy, continuing to affirm that the processing and manufacturing industry is still the engine of economic growth.
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After a long time lagging behind, Vietnam's processing and manufacturing industry has been making strong breakthroughs, and now leads in attracting foreign investment (FDI).
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After struggling with the Covid-19 pandemic, Vietnam's textile and garment industry has achieved impressive export achievements in the first half of 2022. However, the road ahead still contains many challenges, threatening the annual export targets of this industry.
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Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade.
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