With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.

The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme.

The seafood industry grew rapidly in the third quarter of last year, but there are signs of a slowdown in the fourth quarter and it is expected to continue this year, particularly in large markets.

The bustling game market in Vietnam is offering numerous opportunities for developers, according to experts.

Furniture products of six Vietnamese businesses were displayed at the January Furniture Show (JFS) 2023, the largest annual furniture show in the UK, at the National Exhibition Centre (NEC) in Birmingham from January 22-25.

Minister for Trade and Investment of Victoria state of Australia Tim Pallas has announced Vietnamese carrier Vietjet’s decision to choose Melbourne city as the destination for its first flights to Australia and establish its office in the state.

The Ministry of Agriculture and Rural Development is planning to establish 1,600 new cooperatives this year, bringing the total to 22,500.

The State Bank of Vietnam set the daily reference exchange rate at 23,608 VND/USD on January 27, the first working day after the traditional Lunar New Year (Tet) holiday, up 3 VND from the last working day before Tet (January 19).

Although 2023 is forecast to see many difficulties, experts expect this is a recovery year of the retail sector after COVID-19 pandemic as there are many signs showing the return of investors and higher demands.

A survey conducted by the association showed 63% of Japanese enterprises said they would continue investing in operation expansion in the next 1-2 years, reflecting that investors have great expectations for Vietnam's economic growth.

After struggling to recover from the negative impacts of the COVID-19 pandemic, Ho Chi Minh City took back what it lost, achieving positive results in its socio-economic development in 2022.

Seaports nationwide are still working through Lunar New Year (Tet) break to ensure that import-export activities are not disrupted, according to the Vietnam Maritime Administration (VMA).

Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.

Vietnam’s GDP growth in 2023 has been adjusted upward to 6.8% in the ASEAN+3 Macroeconomic Research Office (AMRO)’s January Update, up from 6.5% in its October report.

Farmers in the Mekong Delta contribute over 50% of the country's rice production and 90% of rice exports. However, quality, efficiency, product competitiveness and income of rice farmers in the region remain low.

Vietnam’s export of agro-forestry-aquatic products hit a record revenue of over 53.22 billion USD last year, up 9.3%, including nearly 11 billion USD from aquatic products.

Vietnam is always a very good business partner of Hong Kong (China), and the two sides have maintained effective trade and investment ties over the past years, according to Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau.

Ho Chi Minh City needs to develop a cold storage system and raw material storage areas for the food processing industry, the Food and Foodstuff Association of HCM City has said.

Cash flow shortage is a common challenge faced by small- and medium-sized enterprises (SMEs) in Southeast Asia, with 58% of those from Singapore, Malaysia, Thailand and Indonesia reporting their existing cash flow sufficient to sustain their operations for six months, according to a YouBiz report.

Customs clearance will be suspended at border gates in the northern province of Lang Son and Mong Cai International Border Gate in Quang Ninh province for seven days, from January 21 to 27, during the Lunar New Year (Tet) festival, according to authorities. The work will be resumed from January 28.