In the first half of the year, trade between Vietnam and Japan increased 45.5% as compared to the same period last year. Trade was worth over $8.1 billion. At this rate, trade between the two countries could exceed the 2010 target of $15 billion. Exports of oil to Japan surged in the first half. Furthermore, Vietnam shipped more coal, coffee, and small motors to Japan than it did last year in the first half.

Because of a lack of workers and materials, Vietnam will be unable to attain its 2010 target export turnover of $1.5 billion in handicrafts. The country's craft business must now import 50% of their rattan and bamboo to keep their export contracts. The price of rattan and bamboo have nearly doubled in the past year.

With the benefit of both Vietnam and China in mind, Prime Minister Nguyen Tan Dung has approved a plan to complete the economic corridor of Lang Son-Ha Noi-Hai Phong-Quang Ninh to 2020. The corridor is expected to raise the GDP of the cities in the corridor to at least 1.2 times the national average. Included in the plans are a six-lane expressway linking Ha Noi with Huu Nghi Quan and a highway linking Noi Bai international airport with Ha Long City.

Vietnam's GDP expanded at 6.5 percent in the first half of the year, down from 7.9 percent in the same period in 2007, the slowest pace in at least seven years.

Donald J Trump, President of the Miss Universe Organization, announced that the 57th Annual Miss Universe competition will air live from Nha Trang, Khanh Hoa, Vietnam.

Vietnam's Prime Minister plans to visit U.S. officials to discuss measures to curb inflation. The Prime Minister plans to meet with President George W. Bush and former U.S. Federal Reserve Chairman Alan Greenspan, among others.

An IMF official stated that economic troubles in Vietnam showed the dangers of slow policy response but said the risk of contagion from the country's problems into the rest of the region was low.

Vietnam's prime minister began a visit to the United States on Monday, hoping to gain some economic tips to ease soaring inflation at home.

Stocks tumbled amid concern that Vietnam is headed for a currency crisis triggered by soaring inflation. The benchmark stock index has slumped 60 percent this year.

Vietnam lifted its ban on rice export deals. The Vietnamese government said they will limit the export of rice to 3.5 million tonnes for the first nine months of this year. And in a government-to-government deal valued at $564 million, the Philippines purchased 600,000 tonnes of rice from Vietnam.