The sector has played a crucial role in the national economy, as reflected through its export turnover, job generation, and the formation of supply chains in such key industries as electronics, machinery, garment-textile and footwear.

The FDI sector plays a crucial role in the national economy.

Notably, 2023 marked the eighth consecutive year Vietnam had run a trade surplus, reaching a record high of 28 billion USD, with the FDI sector contributing a whopping 90% in many major areas.

Specifically, the firms accounted for 99.6% in phones, over 98% in computers, 93% in machinery, and more than 60% in garments-textiles.

Vietnam has been named among the top 20 economies with the largest trade scale globally, significantly contributed by the FDI sector. The large FDI influx has created a foundation to advance the country on the global trade map.

Last year, with 275.9 billion USD, the sector's export earnings equated to 74% of the country’s accumulative export revenue.

Labour export targets high quality market

BAC GIANG - In 2023, the northen province of Bac Giang surpasses the set target of labor export.  This is made by the joint effort of the Labor, War Invalids and Social Affairs sector and localities to exploit a number of new markets toward high quality ones.

Vietnam among biggest exporters of Christmas decoration products to US

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.

Vietnam cooperate on rice exports with Thailand and Philippines

Vietnam has agreed with Thailand as well as the Philippines to strengthen rice export cooperation to ensure regional and global food security.

Seven commodities with export value of over 10 billion USD

In the first 11 months of 2023, seven commodities of Vietnam posted export value of over 10 billion USD, accounting for over 60% of the country's total export turnover.

Rice exports expected to hit $5B this year

Rice export volume and value during the first 11 months surpassed the figures of the entire 2022, and this year’s revenue is expected to reach $5 billion, authorities said.

Source: VNA