Room for Vietnam’s exports to Eurasia remains huge
The Ministry of Industry and Trade’s Department of European – American Markets held a trade cooperation forum with Eurasian partners both online and offline on December 22.
Hanoi (VNA) – The Ministry of Industry and Trade’sDepartment of European – American Markets held a trade cooperation forum with Eurasianpartners both online and offline on December 22.
Speaking at the event, Director of the department Ta Hoang Linhdescribed Eurasia as a huge market with 28 countries which are home to apopulation of over 410 million people and a gross domestic product of over 3.3trillion USD.
Despite COVID-19 pandemic, two-way trade between Vietnam andEurasia still hit 12.7 billion USD in 11 months of this year, up 13.1 percentannually. Of the figure, 8.6 billion USD was Vietnam’s export which remainedmodest compared to their import demand of more than 1.34 trillion USD, or only0.66 percent of the market share, showing that room for Vietnam’s exportsremains huge.
As of the late November, 18 out of 28 regional countriesinvested in 319 projects worth nearly 1.78 billion USD in Vietnam, or 0.44percent of the total foreign direct investment in the country.
Meanwhile, Vietnam poured around 2.82 billion USD in 37 projectsin nine regional nations as of the late September. Russia was the biggestrecipient of Vietnamese investment with 15 projects valued at 2.8 billion USD.
Several speakers pointed out the benefit of goods transportationvia Asia-Europe railway route and seaports in Eastern Europe such as Slovenia,Bulgaria and Romania and shared information about e-commerce sites in thesemarkets to help Vietnamese firms seek export opportunities.
Questions regarding foreign countries’ import and investmentattraction policies were answered at the event. Market demands and opportunitiesfrom free trade agreements were also updated.
Linh affirmed that the ministry will continue partnering withbusiness community to boos♛t trade and investment activities between Vietnam andEurope-America and Asia-Europe in particular./.
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A forum to promote trade links between Vietnamese enterprises and partners in Eurasian markets was held in Hanoi on December 10 by the Ministry of Industry and Trade (MoIT)’s European-American Market Department.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Illustrative image (Photo: VNA) 
