Vietnamese Fruit Exports Eye Stronger Growth in Chinese Market

Vietnamese agricultural, forestry, and fishery exports reached $36 billion in the first half of 2026, marking a 6% year-on-year increase. While overall growth remained below the government's double-digit target, several products posted strong performance and are showing significant export potential. The Ministry of Agriculture and Rural Development (MAFF) is working with businesses to expand the system from July 1 to a range of key commodities, including rice, meat, eggs, milk, pineapple, passion fruit, and tea. This initiative aims to leverage the growing demand, particularly from the Chinese market, for Vietnamese agricultural products. Ho Chi Minh City is actively seeking investment for approximately 250 projects across nine priority sectors. These focus on developing an International Financial Centre, digital finance, smart banking, and supporting infrastructure, as well as large-scale logistics, port developments, and transport infrastructure to facilitate trade and import-export activities. Green industries, clean energy, and next-generation industrial parks are also key areas of focus. The government has extended the exemption of agricultural land use tax until December 31, 2030, and allows businesses and individuals to defer payments of VAT, corporate income tax, and personal income tax during 2026. This measure is intended to provide financial relief and stimulate economic activity. More than 125,900 new enterprises were established between January and July 2026, a 16.9% increase from the same period last year, indicating a robust entrepreneurial spirit. In the first seven months of 2026, the country's total exports of agro-forestry-aquatic products reached nearly $42.8 billion, up 7.5% from the same period last year. Projects in Phu Quoc are being implemented under tight deadlines, with the Prime Minister directing preparations for APEC 2027, including accelerated infrastructure development on the special zone since May 2025. An Giang province and investors have launched major projects with demanding construction schedules. The National Statistical Office (NSO) reported that realized Foreign Direct Investment (FDI) reached an estimated $15.2 billion during the January-July period, an increase of 11.8% from a year earlier and the highest seven-month disbursement recorded over the past five years. Vietnam's total import-export turnover reached $659.58 billion in the first seven months of 2026, up 28.1% year-on-year, reflecting strong global trade engagement. Vietnam's July Consumer Price Index (CPI) increased by 3.08% from December 2025 and 4.45% year-on-year. The average CPI in the first seven months rose 4.39% year-on-year, while core inflation increased 4.19%. The Department of Customs is drafting a law to convert fragmented customs documents into standardized digital data, enabling AI to process and analyze information for automated customs clearance. This initiative aims to streamline trade processes. The utilization rate of FTA tariff preferences remains high, with some agreements, such as the EU-Vietnam Free Trade Agreement (EVFTA), the ASEAN-India FTA, and the ASEAN-Australia-New Zealand FTA, recording rates of 30-50%. Overall, strong first-half performance has prompted several international institutions, including Standard Chartered, UOB, and DBS, to raise their growth forecasts for Vietnam. Standard Chartered projects GDP growth of 9.5% in 2026 and 11% in 2027. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,626 VND/USD, and the floor rate is 24,090 VND/USD. Reflecting on the EVFTA's sixth anniversary, EuroCham Chairman Bruno Jaspaert stated that nearly half of all EU-Vietnam trade over the past three decades has taken place under the agreement, underscoring the rapid acceleration of economic integration once market access barriers were removed. According to the Airports Corporation of Vietnam (ACV), construction of the passenger terminal at Long Thanh International Airport has reached nearly 70% of the total contract value, with civil works alone almost 80% complete. Dr. Tran Minh Ngoc, Director of the National Institute of Medicinal Materials under the Ministry of Health, highlighted that Ngoc Linh ginseng (Panax vietnamensis) is an endemic species found only in Vietnam's Ngoc Linh mountain range. Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said Vietnam's total trade may exceed $1 trillion in 2026, supported by effective use of new-generation free trade agreements (FTAs). A subsidiary of Thailand’s SCG Chemicals, LSP, manages one of Vietnam’s largest foreign direct investment (FDI) projects, with an initial investment of more than $5 billion. The company is also investing an additional $500 million to integrate ethane into its feedstock portfolio. Nguyen Van Hung, Vice Chairman of the Cua Lo Ward People’s Committee, noted that nearly 20% of hotels in the locality have installed rooftop solar systems, helping reduce electricity costs and ease pressure on the power supply during hot months. If Vietnam can create the institutions, funding channels, and support systems that allow businesses to develop at different stages, the target of 2 million active enterprises by 2030 could mark not just a numerical milestone but the emergence of a more resilient engine of growth. Representatives of the Czech side spoke highly of the potential for cooperation with Da Nang and affirmed their readiness to help connect Czech enterprises with Vietnamese partners, thereby promoting stronger bilateral investment and trade ties. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.