Vietnam Strengthens Ties with China for Export Expansion, Exploring Opportunities in Agriculture and Industry

Zhejiang Export Fair to return to Vietnam with 14th edition Held under the theme “Tech Empowered, Future Equipped”, the event underscored the group's strategy to accelerate green development, digital transformation and international cooperation while highlighting opportunities for deeper industrial collaboration with Vietnam. Minister Counsellor at the Vietnamese Embassy in China Hoang Van Tuan described VIS 2026, to be organised by the Ministry of Industry and Trade, as an important initiative to strengthen connections between Vietnamese enterprises and international importers, distributors and business partners. Tan Mingming, Deputy Director of the Foreign Affairs Office of the Dezhou Municipal People’s Government, told Vietnam News Agency reporters that the city has spent years deliberately tightening its links with the Association of Southeast Asian Nations (ASEAN), with Vietnam seen as a key partner. The programme will be funded by state-owned commercial banks, which have pledged to provide concessional loans to help SMEs gain better access to capital to expand production and business activities, and support economic growth. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,649 VND/USD, and the floor rate 24,111 VND/USD. Ho Chi Minh City is calling for investment in around 250 projects across nine priority sectors, mainly focusing on developing the International Financial Centre, digital finance, smart banking and supporting data infrastructure, large-scale logistics and port developments, transport infrastructure supporting trade, import-export activities, industry and smart logistics, green industries, clean energy and next-generation industrial parks. China is the world's largest fruit market and Vietnam's biggest export destination for fruits and vegetables. Rising import demand in recent years has created significant opportunities for Vietnamese producers. The Government has extended the exemption of agricultural land use tax until December 31, 2030 while allowing businesses and individuals to defer payments of VAT, corporate income tax and personal income tax during 2026. More than 125,900 new enterprises were established between January and July, up 16.9% from a year earlier. In the first seven months of 2026, the country's total exports of agro-forestry-aquatic products reached nearly 42.8 billion USD, up 7.5% from the same period last year. The projects in Phu Quoc have been implemented under tight deadlines. Since May 2025, the Prime Minister has directed preparations for APEC 2027, including accelerated infrastructure development on the special zone. An Giang province and investors have subsequently launched a number of major projects involving complex technical requirements and demanding construction schedules. The NSO also reported that realised FDI reached an estimated 15.2 billion USD 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 USD in the first seven months of 2026, up 28.1% year-on-year. Vietnam's July CPI increased 3.08% from December 2025 and 4.45% year-on-year. Average CPI in the first seven months rose 4.39% year-on-year, while core inflation increased 4.19%. Deputy Director of the Department of Customs Nguyen Thanh Hung said the draft law establishes a legal framework to convert fragmented customs documents into standardised digital data, enabling AI to process and analyse information for automated customs clearance. According to Deputy Minister of Agriculture and Environment Dang Ngoc Diep, agricultural, forestry and fishery exports fetched an estimated 35.88 billion USD in the first six months of 2026, up 6% year-on-year. The sector's GDP expanded by more than 3.8%, exceeding the government's 3.7% target. The results were underpinned by stable production, particularly in key industries. The utilisation 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 24,090 VND/USD. Reflecting on the agreement's sixth anniversary, EuroCham Chairman Bruno Jaspaert said that nearly half of all EU-Vietnam trade over the past three decades has taken place under the EVFTA, 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 has reached nearly 70% of the total contract value, while civil works alone are almost 80% complete. Dr. Tran Minh Ngoc, Director of the National Institute of Medicinal Materials under the Ministry of Health, said Ngoc Linh ginseng (Panax vietnamensis) is an endemic species found only in Vietnam's Ngoc Linh mountain range at elevations of 1,500–2,100 metres. Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said Vietnam's total trade may exceed 1 trillion USD in 2026, supported by effective use of new-generation free trade agreements (FTAs). Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.