Vietnam attracted foreign direct investment of 106.8 billion USD into its renewable energy sector during the 2015-2022 period, ranking it 2nd among developing economies around the world.

In the first eight months of this year, Vietnam earned 3.45 billion USD from exporting vegetables and fruits, up 57.5% year-on-year and exceeding last year’s export turnover of 3.16 billion USD.

In the first eight months of this year, five export items posted turnover of more than 10 billion USD, accounting for 58.4% of Vietnam’s total.

Along with sound political relations, economic-trade ties have been one of the most successful endeavours within Vietnam-US relations. The US is currently one of Vietnam’s largest trading partners.

Vietnam’s average CPI increased by 3.1% in the first eight months of 2023, while foreign investment rose 8.2% and foreign visitors grew 5.4-fold.

Vietnam’s total import-export turnover of goods hit 435.23 billion USD in the first eight months of this year, with the country posting a trade surplus of 20.19 billion USD.

Under the National Master Plan for 2021-2030 with a vision to 2050, Vietnam strives to reach a GDP growth rate of approximately 7 percent per year during the 2021-30 period. By 2030, GDP per capita at current prices is expected to be around 7,500 USD.

Rice exports total 2.58 billion USD in the first 7 months of 2023, a 29.6% increase over the same period last year.

Under a recent Government’s decision, 13 sea border gates permit foreigners to enter and exit Vietnam with e-visas from August 15, 2023.

The following 16 land border gates permit foreigners to enter and exit Vietnam with e-visas from August 15, 2023 under a recent Government’s decision.

Vietnam’s digital economy has played an important role in the country’s socio-economic development in recent times, and accounted for nearly 15% of GDP in the first half of this year, according to the Ministry of Information and Communications.

Vietnam’s CPI rose 3.12% in the January - July period, foreign direct investment rose 4.5% and foreign tourist arrivals rose 6.9-fold. The country posted a trade surplus of around 15.23 billion USD.

Foreign arrivals to Vietnam were estimated to have hit 6.6 million in the first seven months of 2023, surging 6.9-fold compared to the same period last year but still only 67.5% of the figure in the first seven months of 2019, prior to the COVID-19 pandemic.

The US remains the largest importer of Vietnamese goods during the first seven months of 2023 with an estimated turnover of 52.4 billion USD. It was followed by China with a projected figure of 58.6 billion USD.

The Vietnam - Israel Free Trade Agreement (VIFTA) was signed on July 25 and is the latest free trade agreement (FTA) Vietnam is a party to. Joining more FTAs will create significant opportunities for the country to deeply participate in global value chains, increase exports, boost GDP growth, and improve its institutions.

Five commodities posted an export value of more than 10 billion USD in the first seven months of this year, making up 57.6% of Vietnam’s total exports.