Economy

Prolonged drought and saltwater intrusion in the 2023-2024 dry season have greatly affected the orchards in Long An province. Many areas have been depleted by withered leaves.

New foreign direct investment (FDI) projects in southeastern localities in the first five months of 2024 are not large but friendly to the environment and apply high technologies.

Deputy Prime Minister Le Minh Khai has signed a decision on the organisation of a nationwide rural and agricultural census.

Total state budget revenue from import-export activities reached almost 165.7 trillion VND (nearly 6.63 billion USD) in the first five months of 2024, equivalent to 44.2% of the assigned estimate.

Since the beginning of this year, a diverse range of foreign products have entered the Vietnamese market, with Ho Chi Minh City experiencing a surge across various promotional channels.

Vietnamese delegation on June 6 held working sessions with representatives from the Russian Ministry of Economic Development, St. Petersburg’s foreign affairs committee and Russian companies.

Coffee exports are expected to reach an estimated 2.9 billion USD in the first five months of this year, representing a rise of 43.9% over the same period last year on rising prices despite a drop of 3.9% in volume.

The rice trade between Vietnam and the Philippines is forecast to remain steady in the near future, according to the Vietnam Trade Office in the Philippines.

The Ministry of Finance said on June 5 that in the first five months of 2024, domestic market prices were basically stable, with market developments in line with the price management.

Coffee prices continued to rise sharply on June 5, ranging from 122,000 - 123,500 VND (4.8-4.86 USD) per kilogramme in the Central Highlands – the largest coffee growing area in the country.

The Ministry of Justice held a meeting to appraise the draft resolution of the National Assembly on VAT reduction, which was chaired by Deputy Minister Tran Tien Dung.

The Ministry of Industry and Trade will continue to focus on and tie into solutions to develop foreign exports, in which Northeast Asia and its prime markets, is one of the focal points.