Vietnam’s wood industry has shown signs of recovery in the third quarter of 2020. However, legal complications may arise through illegally-sourced raw materials from foreign suppliers and a lack of uniformity.
The Ministry of Planning and Investment is now completing legal documents guiding the implementation of the commitments on public procurement in the EU-Vietnam Free Trade Agreement (EVFTA), which took effect this month, before submitting them to the government for approval.
With recent new improvements in COVID-19 vaccine research and production, Vietnam and the European Union are preparing to gain future benefits from both investment shifts and the landmark EU-Vietnam Free Trade Agreement, with Vietnam on the cusp of increasing its integration into global value chains.
August 1 has become a historic milestone for EU-Vietnam relations as the EU-Vietnam Free Trade Agreement (EVFTA) officially came into force to have a major impact on the economy and the legal system of Vietnam.
The novel coronavirus (COVID-19) pandemic has had a strong impact on the export of Vietnamese agricultural products, especially to major markets such as China, the United States, and the European Union.
The trend of shifting FDI investment to other countries, including Vietnam, is an opportunity for the domestic economy and the FDI sector to create a tighter linkage. However, the linkage between domestic enterprises and the FDI sector is still facing many difficulties, mainly due to shy domestic enterprises.
With Vietnam possessing huge potential for development amid a strong digital transformation process, Singaporean technology firms are increasingly viewing the Vietnamese market as a key area for growth.
The co-operative relations between Israel and Việt Nam are growing strong in all spheres, with the two countries currently negotiating the official signing of a bilateral free trade agreement (FTA). It is one of the items discussed by Deputy Ambassador of Israel to Việt Nam, Shirel Levi, in a recent interview with Việt Nam News reporter Nguyễn Linh Anh.
With its great potential in IT, Vietnam as ASEAN chair has been making efforts together with other member states in boosting the application of high technologies to adapt to the Fourth Industrial Revolution, which is sweeping regionwide.
In the first seven months of 2020, the industrial production index is estimated to have increased 2.6% over the same period last year, much lower than the rate of 9.4% during the same period in 2019. This is the lowest growth in many years.
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