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Farmers in the northern province of Lai Chau check on trees in a local forest. Viet Nam needs to develop a timber legality assurance system to ensure its exports of timber and timber products come from legal sources. — VNA/VNS Photo Cong Tuyen Starting from June 1, Viet Nam could export only verified legal timber products to the European Union (EU) markets as the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLECT) would officially enter into force. The Delegation of the EU to Viet Nam and Viet Nam Ministry of Agriculture and Rural Development yesterday announced the completion of the process of approval and ratification of VPA/FLECT. According to Nguyen Quoc Tri, Director of the Viet Nam Administration of Forestry, the implementation of the VPA/FLECT marked the beginning of a joint commitment of the EU and Viet Nam to work together to address illegal logging and associated trade. To implement the VPA/ FLEGT, Viet Nam would develop a timber … [Read more...] about Viet Nam finalises agreement to trade legal timber with EU

* Plenary session Before joining the plenary session of the Viet Nam Private Sector Economic Forum, Prime Minister Nguyen Xuan Phuc (5th from left) cuts ribbon to inaugurate the exhibition on achievements of the private sector at the National Convention Center in Ha Noi on May 2, 2019. Photo: VGP The plenary session of the Viet Nam Private Sector Economic Forum began this afternoon with the participation of Prime Minister Nguyen Xuan Phuc, Head of the CPVCC Economic Commission Nguyen Van Binh and other politburo members. Prime Minister Nguyen Xuan Phuc addresses the plenary session of the Viet Nam Private Sector Economic Forum at the National Convention Center in Ha Noi. Photo: VGP Addressing the plenary session, Prime Minister Phuc affirmed that Viet Nam has gained numerous achievements after more than three decades of reform. 2018 was the 4th consecutive year witnessing the unprecedented number of newly established enterprises. Now the private sector accounts … [Read more...] about Viet Nam Private Sector Economic Forum

Vu Duc Giang, chairman of the Viet Nam Textile and Apparel Association (VITAS), speaks at the Global Textile and Apparel Supply Chain Conference held yesterday in HCM City. — VNS Photo Bo Xuan Hiep Viet Nam could become a “sustainable supplier of choice” in the textile and apparel industry if the country continues its efforts to ensure environmental protection in manufacturing, an official said at a global industry meeting held yesterday in the city. Speaking at the 2019 Global Textile and Apparel Supply Chain Conference, Vu Duc Giang, chairman of the Viet Nam Textile and Apparel Association (VITAS), said the industry creates long-term and well-paid skilled jobs since it can offer affordable labour resources. Labour costs in Viet Nam are relatively cheaper than those in China, Indonesia, Thailand and the Philippines. “Free Trade Agreements (FTAs) also play an important role in helping Viet Nam move up the value chain in the textile and apparel industry,” … [Read more...] about Viet Nam to become “sustainable supplier”

Viet Nam Expo 2019 features around 600 booths of businesses from 23 countries and territories. VNS Photo Linh Anh As many as 500 firms are exhibiting their products at the 29th Viet Nam International Trade Fair (Viet Nam Expo 2019), which opened at the International Exhibition Centre in Ha Noi on Wednesday. The four-day event, themed “Networking and Sharing for Mutual Success”, includes the attendance of enterprises from provinces and cities of Viet Nam and 23 countries and territories, including Algeria, Cuba, Indonesia, the Republic of Korea and China. Viet Nam Expo is hosted by the Ministry of Industry and Trade and organised annually by the Viet Nam National Trade Fair & Advertising Company (Vinexad) over the last two decades, and is recognised as one of the most effective trade events, bringing about a lot of economic values for organisations, enterprises and individuals in Viet Nam and overseas. At the opening ceremony, Deputy Minister of Industry and Trade Do … [Read more...] about Viet Nam Expo connects 500 firms from across the globe

Viet Nam’s exports to member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) were expected to increase strongly through now to 2030, reaching 25 per cent of the country’s total exports, according to the Ministry of Industry and Trade (MoIT). Shipments to Japan, the country's largest export market in the bloc followed by Canada and Mexico, have reached US$2.9 billion so far this year, up from $2.6 billion from the same period last year. As many as 269 certificates of origin had been issued in the CPTPP since the trade accord took effect in Viet Nam in January this year. These figures were reported by Ngo Chung Khanh, deputy director of the MoIT’s Multilateral Trade Policy Department, in a recent press meeting on industrial manufacturing and trade activities. “219 of 269 certificates of origin were issued to Canada, demonstrating that Vietnamese exporters were utilising the CPTPP to penetrate Canada, one of the three … [Read more...] about Viet Nam’s exports to CPTPP countries surge