Many garment processing enterprises for export in Ho Chi Minh City said that in the fourth quarter of this year, some orders, especially from the US market, have started to increase again. This is good news for the industry in the context that the Covid-19 pandemic still develops complicatedly in many traditional markets of Vietnam.
The US Treasury Department’s labelling of Việt Nam as a currency manipulator is biased, as it is only based on US standards and lacks suitable consideration as well as recommendations from international organisations, according to experts.
After recent decreasing prices, it is forecast that the pangasius price reduction cycle will end in 2021. The farming area tends to be narrowed, resulting in a decrease in output and pushing up pangasius prices again.
The pandemic and uncertainties have put pressure on the global economy. However, Vietnam, though facing many risks, is expected to continue growing well.
Vietnam and New Zealand have cemented new ties with the latest signing of the Regional Comprehensive Economic Partnership and the strategic partnership between both nations. Wendy Matthews, New Zealand’s Ambassador to Vietnam, shared with VIR’s Thanh Van the upcoming opportunities and key areas for stronger bilateral collaboration.
Recently, localities have received many foreign investment (FDI) projects in the wood and forest product processing industry. However, along with them are outstanding worries about "underground" investment and "shadow" investment, putting Vietnamese wood at risk of trade defence investigations, especially against tax evasion.
The support policies for small and medium enterprises have been brought into full play, helping enterprises to overcome difficulties caused by the Covid-19 pandemic.However, despite a long period of implementation, many businesses still have difficulty accessing them and somedo not know the supporting policies yet.
The US$300-billion export target set in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated COVID-19 situation.
As the United Kingdom began a transition period on its way to leaving the EU in January, meaning the free trade deal between Vietnam and EU members is only valid for the UK until the end of the year, Vietnam and the UK worked quickly towards signing a UK-Vietnam Free Trade Agreement (UKVFTA) to develop the cooperative relationship between the two.
Despite the challenges posed by the COVID-19 pandemic, a number of companies in various sectors have adopted “flexible-thinking and innovative changes” to survive the effects of the pandemic.
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