Economy

Vietnam’s fruit and vegetable exports surged to a record high in 2023, yet insiders said it is just a start as ample room remains for the sector.

In recent years, the foreign-invested economic sector has been considered an important component of the Vietnamese economy, encouraged and facilitated for long-term development and cooperation.

2023 continues to be a tough year for the world economy as COVID-19 pandemic has still taken heavy tolls while a series of new challenges have emerged.

Vietnam’s gross domestic product (GDP) growth rate is estimated at 5.05% in 2023, the General Statistics Office (GSO) announced on December 29.

Vietnam has shipped approximately 2.22 billion USD worth of durian products overseas in 2023, with increasing demand noticed in non-traditional markets.

Prime Minister Pham Minh Chinh has signed to issue an official dispatch asking for measures to strengthen the management of the domestic gold market.

The Ministry of Industry and Trade (MoIT) aims to increase total export turnover in 2024 by about 6% compared to 2023 and maintain a trade surplus of about 15 billion USD for the ninth consecutive year.

Vietnam attracted nearly 36.61 billion USD of foreign direct investment (FDI) this year to December 20, a rise of 32.1% year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The prices of Vietnamese coffee are forecast to continue to increase next year due to severe supply shortage, according to the Vietnam Coffee-Cocoa Association (Vicofa).

Vietnam is one of the countries that exports the most Christmas decoration products to the US. Among its export products to the US, candles used at Christmas achieved impressive export turnover.

The wood industry market shows some signs of recovery, yet 2024 still poses some potential difficulties for the industry.

Many localities in Vietnam have promoted converting traditional industrial parks to eco-industrial parks and also developed new green industrial parks.