Vietnam needs to quickly build qualified raw material areas, develop machinery and technology and issue appropriate mechanisms to attract businesses to invest in fruit and vegetable processing to expand market share for these products.
As the Second Indochina War came to an end, Belgium was one of the first nations to support the rebuilding of Vietnam. Since then, both nations have been continuously raising bilateral collaboration in multiple areas and are now looking forward to a long-term, mutually beneficial partnership.
Ho Chi Minh City is the leading economic region of the country, under the impact of the pandemic, the production activities of enterprises were significantly affected. In particular, small and medium enterprises account for 98% of the total number of operating enterprises, requiring maximum support to restore production.
The signing and implementation of Free Trade Agreements (FTAs) have brought many positive effects in market expansion and increasing goods export turnover to Vietnam. However, limitations such as the lack of understanding of enterprises and neglectfulness of local authorities means many opportunities from FTAs have been missed.
Vietnamese businesses should prepare to export their products to other ASEAN countries ahead of the possible signing of the Regional Comprehensive Economic Partnership (RCEP) this week.
The government is formulating its new economic growth goal for the next five years, amid its struggle against the health crisis and natural calamities undermining its efforts to reach targets. Questions are now being asked on how the country can effectively drive the economy forwards.
Vietnam has tremendous opportunities to attract foreign investment as global companies are seeking for a destination promising continuity, World Bank Country Director for Vietnam Carolyn Turk said during an interview with the Vietnam News Agency.
As Vietnam is emerging as a bright spot in the Asian investment map, Michael Isenschmid, managing director of Zurich-based IAP Investment & Trust Services AG, shares with Thuc Minh a few suggestions to make it even more attractive.
Plenty of local firms have weathered the COVID-19 crisis by selecting niche markets and diversify products to enhance their competitiveness and gain access to the EU market.
Although the collective economy in HCM City has gained positive results, limitations still exist, district officials and co-operative leaders have said.
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