With the signing of the Regional Comprehensive Economic Partnership (RCEP), member countries in the region, like Vietnam, will have more convenient transportation. The RCEP is expected to increase the export value of Vietnam's agriculture, especially fresh fruits and vegetables, thanks to the reduction in storage and logistics costs.
On the eve of the lunar new year in 2021, Deputy Minister of Planning and Investment Tran Quoc Phuong spokewith Customs News about economic growth in 2021.
Vietnam’s swift-breeding industry has grown strongly since 2010, with the production accounting for about 3% of global swiftlet nest production. According to the Department of Livestock Production (Ministry of Agriculture and Rural Development - MARD), the swift-breeding industry has many development opportunities and economic potential.
Recently, many localities across the country have been restructuring the agricultural sector in the direction of increasing the added value and developing sustainably. One of the important solutions to achieve the goal is developing the formation of value chains for agricultural products.
One of the emerging challenges for Vietnam's industrial development is that the driving force in Vietnam's production and export of industrial products is currently driven by the FDI sector, accounting for approximately 70% of the country's total export turnover.
Throughout more than three decades of economic reform, Vietnamese companies from many sectors have been venturing abroad and become role models. Yet, the logistics sector remains too focused on the domestic market. Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade, emphasised that local players should follow regional examples and take their business to international arena.
Alongside containing the COVID-19 pandemic, the Government has been advised to stabilise the macroeconomy, improve the local business climate, and ensure that public investment is strictly supervised and implemented in an effective manner in order to enhance the resilience of the economy, according to insiders.
The seaport and logistics industry was forecast to grow significantly on the prospect of global trade recovery in 2021 when the vaccine to prevent COVID-19 is administered worldwide.
Experts say they expect more pronounced support for the private sector from Vietnam's new leadership in the coming years.
The leather and footwear industry has gradually penetrated deeply into the global supply chain
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