Vietnamese businesses are reeling under financial stress as ocean-freight costs soar to a new record level, hindering local exporters’ ambitions to further expand in foreign markets.
The rate of using Certificate of Origin (C/O) form EUR.1 of Vietnamese textile and garment exporters to the EU to take advantage of preferential tariffs from the EU-Vietnam Free Trade Agreement (EVFTA) has not met the expected level.
In December last year, the HCM City People’s Council issued a resolution on collecting fees for using infrastructure facilities and public services at local ports.
Tuna exports increased by nearly 50% in April 2021, exporters of this item are trying to overcome difficulties to achieve spectacular results.
Textile, footwear, wood, and electronics are the billion-dollar export industries of Vietnam. However, these industries are dependent mainly on the import of raw materials. In the context of the Covid-19 pandemic, businesses are facing more and more difficulties, forcing them to find solutions.
Vietnam has gradually surpassed Thailand to become the world's second largest rice exporter after India. The export price of rice in 2020 as well as in the first months of 2021 maintained the highest level in the world. However, Vietnam's rice production and exports have many risk factors due to unstable quality and lack of brand name.
In order to implement the dual goals, along with actively fighting the Covid-19 pandemic, it is necessary to have reasonable policies to strengthen the "resistance" of the economy, prepare responses when the pandemic persistes, thereby enhancing the potential for a quick economic recovery as soon as the pandemic is controlled, preventing the economy from falling into recession.
Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade), said that to ensure the "dual goals" of both effective anti-pandemic and socio-economic development, one of the important factors is to well protect firms and key border gates; zoning right area and avoiding widespread social-distancing.
The new wave of COVID-19 pandemic has taken a serious toll and posed major challenges on the whole economy, particularly the supply chain sector. Frederic Neumann, co-head of Asian Economics Research at HSBC, discussed about its impacts on supply chain in a global context and in Vietnam as well.
VASEP is concerned about the contents of the draft circular replacing Circular No. 15/2018/TT-BNNPTNT promulgating the HS Code Table for the List of Goods under the management of the Ministry of Agriculture and Rural Development. It will cause many difficulties for businesses in the quarantine stage, the representative of the Department of Animal Health confirmed.
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