General

On the morning of April 5th, the 2023 Vietnam Expo, hosted by the Vietnamese Ministry of Industry and Trade and organized by Vinexad, kicked off at the Hanoi International Exhibition Center (ICE). During his speech at the opening ceremony, Deputy Minister of Industry and Trade of Vietnam, Du Shenghai, emphasized that this year's Expo has attracted more than 500 enterprises from 16 countries and regions to participate, with a total of 600 booths. The number of enterprises and booths has increased by nearly 100 and 220, respectively, compared to the previous edition. The products displayed at the exhibition are very diverse and distinctive, divided into 5 exhibition areas, including national brand and exporter exhibition area, international exhibition area, electronic machinery and auxiliary industry exhibition area, digital technology e-commerce exhibition area, and food industry exhibition area. Du Shenghai said that in 2022, due to the serious impact of the COVID-19 and the global instability, all countries, including Vietnam, will face great challenges. However, under the unified and decisive leadership and guidance of the Vietnamese government, with timely and effective participation from all levels, departments, and regions, and with the tremendous efforts of the business community and people from all walks of life, coupled with effective support from the international community, the Vietnamese economy has achieved strong recovery in the past year, with macroeconomic stability and inflation under control. At the same time, the business environment in Vietnam has been improved, which has had a positive impact on economic and social recovery and development, winning the trust and support of the people and the business community. It is worth noting that some industries have experienced higher growth than before the outbreak of the epidemic.

Data shows that Vietnam's gross domestic product (GDP) grew by 8.02% in 2022, the highest growth rate since 2011. Industrial production, especially the processing and manufacturing industry, continues to expand and has achieved very positive results. The import and export volume of international trade reached a historic high, reaching 730.28 billion US dollars. In the first two months of 2023, the export value of goods reached 49.44 billion US dollars, although there was a year-on-year decrease, it also reflects the joint efforts of all levels, departments, and the business community. Du Shenghai stated that the outstanding achievements mentioned above are inseparable from the important and positive contributions of trade promotion activities, ensuring the circulation and timely supply of essential goods, and promoting international trade import and export activities. The Vietnam International Trade Expo has been held annually in Hanoi since 1991, with regular events held in April and December in Ho Chi Minh City. At present, it has become one of the most important and large-scale trade promotion activities in Vietnam. The representative of Vinexad said that the number of visitors to Vietnam International Trade Fair in 2023 would increase by 30% every year (except for two years affected by the COVID-19), and the transaction quality at the fair would increase by 25% every year; The success rate of signing contracts increased by 15% after the exhibition.