The nation has been rated by businesses from Taiwan (China) as having great potential for development prospects, with the country’s importance increasing from 18% in 2018 to 24% by the end of 2020, ranking fourth overall, only behind the US, Japan, and China.
For many years, the process of building a national brand name and the brand for each enterprise and product in Vietnam has achieved remarkable results, but it is far from expectation. To avoid Vietnamese goods being "anonymous" on the international market requires close coordination and constant efforts from both the state management agencies and the business community.
The Ministry of Finance recently reported the results of synthesis and analysis of financial statements in 2019 of FDI enterprises to the Prime Minister.
Vietnam and the European Union have experienced 30 years in their bilateral diplomatic relationship. Deputy Minister of Foreign Affairs To Anh Dung writes about both sides’ comprehensive strides in all sectors over the past decades, with shared brighter prospects awaiting ahead.
Vietnam’s wood industry is leaving behind a successful 2020, ready to embrace the new advantages that some of last year’s signed and effective trade agreements bring with them. However, local associations recommend shifting the focus from purely manufacturing consumer goods to creating identifiable brands and innovations.
Last year’s export growth of 6.5% can be viewed as a bright spot in the nation’s economic picture, with this growth being attributed to the signing of a number of free trade agreements (FTAs).
Talking to reporters from Customs News, PhD. Le Quoc Phuong, former Deputy Director of the Center for Industry and Trade Information (Ministry of Industry and Trade), said that the trade surplus in 2020 is unprecedented and demonstrates thegreat effort in the context of the Covid-19 pandemic. However, the huge export surplus also leads to many concerns.
In 2020, despite the Covid-19 pandemic, Vietnam maintained its export surplus momentum and reached the highest trade surplus ever to date. The export results in 2021 are expected to be more impressive than 2020 if the pandemic is well controlled.
Việt Nam has created new jobs for more than eight million workers over the past five years and is one of 10 countries worldwide with the lowest unemployment rate.
Dr. Le Duy Binh, Managing Director of Economica Vietnam (an organisation that operates in the fields of development consulting, economic research, policy analysis and project management) spoke to the Customs Newspaperabout economic mattersin Vietnam in a turbulent year.
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