If there is more trade from the EU to Vietnam, it is likely that the EVFTA will trigger a new wave of FDI from the EU into this country. Investments from the EU are of top quality. European FDI comes with high standards of corporate social responsibility for protecting and training workers and employees, as well as for respecting and protecting the environment. These spillover effects are essential for economies like Vietnam to avoid the middle-income trap. It allows Vietnam to promote economic growth, create better jobs at the same time while ensuring sustainable development. … [Read more...] about How the EVFTA and EVIPA will help Vietnam lure investment
Trade deficit by country
The European-Viet Nam Free Trade Agreement (EVFTA) is also expected to be approved by the 14th National Assembly in its ongoing ninth meeting. Under the agreement, tax imposed on exports from Viet Nam to EU will be eliminated as soon as EVFTA takes effect or shortly thereafter (maximum seven years). Thanks to the EVFTA, Viet Nam’s revenue from exports to the EU is forecast to surge by 44 per cent by 2030. … [Read more...] about Can Vietnam could take advantage of new foreign investment strategies?
As the US-China relationship has become worse and the trade war escalated, there have been many discussions in the US and other countries on how to ease reliance on Chinese economy and the companies from China. Nikkei reported that the Japanese government would prop up 70 billion yen to Japanese enterprises in this campaign. Prior to that, it also provided grants of 243.5 billion last April to help Japanese enterprises ease the reliance on China. … [Read more...] about Strategies for new FDI trends in Vietnam
Bangkok (VNA) – Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has pledged to speed up adjustment of the country’s rice strategy as quickly as possible as the industry is facing an array of challenges, including a strong baht and rising production costs. Local media quoted the official as saying after presiding over a recent Thai hom mali fragrant rice fair that rice exports have fared poorly since the beginning of last year because of foreign exchange swings and the ascendant baht, making Thai rice more expensive than competing grains. The country’s Ministry of Commerce is pursuing a rice strategy to improve competitiveness, covering all systems including marketing, cultivation and R&D of new rice varieties, Jurin said, noting that it is also working to find ways to reduce production costs for farmers to make Thai rice more affordable. He added it is promoting seven rice products and seed development as part of a marketing-led … [Read more...] about Thailand adjusts rice strategy to improve competitiveness
The EVFTA opens the door to Vietnam’s agriculture and fisheries products. Vinamex, an import and export company in Belgium, has a solid reputation in this rather difficult market, especially in regard to rice and cashew nuts. Its warehouse in Brussels regularly houses agricultural products imported from Vietnam. … [Read more...] about Vietnamese agricultural products given opportunity to enter Europe