"Although the economic cooperation between Vietnam and Chile has seen significant development, it is still far from the potential and desire between the two sides due to many barriers." This is the statement made by Mr Nguyen The Hung, Deputy Director of the Vietnam Chamber of Commerce and Industry, Ho Chi Minh City Branch (VCCI – HCM)
The southern province of Dong Nai reported a record export value of more than US$13 billion in 2014, surpassing its target by $500 million and posting a 19 per cent year-on-year increase. Overall, foreign investments made up the lion's share of the figure with almost $11.3 billion, while the private sector accounted for $1.5 billion.
In the past 11 months, Vietnam’s export revenue from China reached $13.5 billion but the country spent up to $39.9 billion to import all kinds of goods from the Chinese market. Vietnam’s trade deficit from this market during this period rose over 22.1% compared to the same period last year, to $26.4 billion.
Vietnam’s garment and textile export turnover is likely to reach 24.5 billion USD this year, a 19 percent rise against 2013 and the largest increase in the past three years. With this result, the sector will bring in a trade surplus of 12 billion USD this year, according to the Vietnam Textile and Apparel Association.