With the Government's reform efforts, foreign businesses in Vietnam believe that Vietnam will become a leading country in attracting foreign investment.
According to VCCI, authorities need to support businesses to take advantage of tariff preferences, because this is the most easily realized aspect of FTAs. Commenting on completing the Government's draft Resolution on a number of key policies and solutions to support businesses to proactively adapt, recover quickly and develop sustainably by 2025, the Vietnam Trade and Industry Federation said. Nam (VCCI) has made many recommendations on solutions to support businesses.
Participating in many Free Trade Agreements (FTAs), Vietnam has advantages in import and export activities, but also faces more risks in trade fraud.
Vietnamese exporters must better meet clean and green quality requirements of the EU’s second-largest economy to enable them to enlarge the market share amid rising competition.
After constant disruption due to the Russia-Ukraine conflict, seafood exports to the Russian market have shown many positive signals.
Decree 35/2022/ND-CP of the Government removes inherent bottlenecks in the development of industrial zones (IZs) and economic zones (EZs). However, it is necessary to have a guiding circular soon so as not to cause confusion for investors.
Inflation and a rising dollar are weighing heavily on seafood consumption in markets, especially big markets such as the US, EU, China, UK.The shadow of inflation seems to have begun to affect the market of Vietnam's seafood exports.
The UK – Vietnam Free Trade Agreement (UKFTA) was providing significant opportunities for Vietnam to expand the export of steel and iron products in the UK.
The US and EU are the leading export markets of Vietnam's wood processing and exporting industry. High inflation in these markets has been causing Vietnamese wood exports to face many difficulties, even posing challenges with an export target of about US$16 billion for the whole year.
To promote sustainable export growth, economist Le Quoc Phuong, former deputy director of the Center for Industry and Trade Information (Ministry of Industry and Trade), said that it is important for the State to have policies to encourage and ensure implementation in order to bring exports from increasing in quantity to increasing in quality, increasing the localization rate and enhancing added value.
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