VN’s export surplus reaches US$6.8 billion in 11 months

Viet Nam’s export surplus reached an estimated US$6.8 billion in January-November, according to a report from the General Statistics Office (GSO).

The report showed that export turnover reached $223.63 billion, marking an increase of 14.4 per cent year on year, while import value hit $216.82 billion, up 12.4 per cent.

GSO experts said the value of key export commodities had continued to grow from the same period last year with reseller dropship, such as telephones and devices, garments and textiles, machines and parts, in addition to agricultural products, seafood and coffee.

The US remained Viet Nam’s largest exporter with export value of $43.7 billion, up 15 per cent, followed by the EU and China with $38.2 billion and $38.1 billion, respectively.

In terms of imports, China was the largest import market for Viet Nam with turnover of $59.7 billion, marking a 13 per cent year-on-year increase. It was following by South Korea, ASEAN and Japan.

New companies up 4.5% in 11 months

More than 121,200 new enterprises were formed in the first 11 months of this year with total capital of VND1.23 quadrillion (US$52.63 billion).

These figures marked a year-on-year surge of 4.5 per cent in the number of firms and 9.1 per cent in total capital, the Business Registration Management Agency under the Ministry of Planning and Investment (MPI) reported.

The average registered capital per enterprise in the first 11 months was VND10.2 billion, up 4.1 per cent over the same period last year.

The total registered capital for the domestic economy in the period was VND3.43 quadrillion, up 26.5 per cent against the same period last year, including VND1.23 quadrillion from newly established enterprises and VND2.2 quadrillion from enterprises in operation registering to increase capital for their production and business.

In November, the number of newly established enterprises was 11,637 enterprises with registered capital of VND118.42 trillion, a drop of 10.5 per cent in the number of new firms and 22 per cent in capital month-on-month, according to the agency. However, those figures still rose 6.5 per cent in the number of new firms and 7.7 per cent in terms of capital year-on-year.

According to the agency, during the January-November period, the number of new enterprises in the real estate sector has the largest growth rate at 41.7 per cent year on year and the largest volume of registered capital at VND375 trillion, accounting for 30.4 per cent of the total registered.

Following was the finance, banking and insurance sector with an increase of 23.7 per cent in the number of new firms and the healthcare and social assistance firms with a growth rate of 20.8 per cent.

The catering services and accommodation sector recorded growth of 11 per cent in newly established firms.

Meanwhile, the asia fashionwholesale, retail, automobile and motorbike maintenance, construction and manufacturing-processing sectors have low growth rates of between 0.6 per cent and 5.8 per cent in number for newly established firms.

The agency said the number of firms that suspended operations also increased 49.3 per cent year on year to 83,108 units.

About 14,800 firms completed dissolution procedures in the first 11 months, up 37.4 per cent.

CFM International finds Viet Nam promising market in Asia

Viet Nam is an important market for CFM International in Asia, President and CEO Gael Meheust said during a meeting with press and partners in Ha Noi on Friday.

Meheust is on a business trip to Viet Nam to meet local partners including Vietnam Airlines, Vietjet Air and Bamboo Airways.

“We look forward to signing more contracts with Vietnamese enterprises. At the current time, I am paying them a visit to discuss the strategy of co-operation between us. I also want to see how they enjoy our services.”

CFM International (CFM) was formed in 1974 as a 50/50 joint company between GE and Safran Aircraft Engines. Today, CFM is the world’s leading supplier of commercial transport aircraft engines.

Since the first engine was delivered in 1982, CFM has received orders for more than 50,000 CFM56 and LEAP engines from over 590 operators worldwide, of which more than 33,000 engines have been delivered.

As of November, LEAP engines have powered more than 1.5 million flights and flew more than 2.6 million hours for more than 80 operators worldwide including Vietnam Airlines, Vietjet Air and Bamboo Airways.