The textile and apparel industry was defined as a field with one of the highest growth rates potentials over the next 12 years. However, companies in the sector face challenges due to global trade policy changes and the boom of the Fourth Industrial Revolution. Việt Nam News reporter speaks to Trần Thanh Hải, deputy director of the Import-Export Department under the Ministry of Industry and Trade and Thân Đức Việt, deputy general director of Garment 10 Corporation Joint Stock Company (Garco 10) about the issues.
Officials and experts fear Chinese goods could flood Vietnam, affecting both domestic sales and exports of Vietnamese firms.
Permanent Deputy Minister of Foreign Affairs Bui Thanh Son chaired the third meeting of the organising committee for the World Economic Forum on ASEAN 2018 (WEF ASEAN 2018) in Hanoi on July 6 to review preparations for the event.
The ministries, sectors and locality have been implementing measures to stabilize the market and control inflation, especially during Tet holidays and at the times when there are many fluctuations in the market. This is the opinion of many experts at the seminar on Market price changes in Vietnam in the first 6 months. Forecasts for the remainder of 2018 took place at the seminar on July 3 in Hanoi.
At the Vietnam Business Forum (VBF) mid-term 2018, the Car and Motorbike Working Group has suggested that the automobile market is in turmoil. This uncertainty is not only for imported vehicles but also for assembled vehicles. The cause stems from some regulations on administrative procedures.
The Ministry of Planning and Investment on July 9 released a report on the recommendations for the strategy and orientation of new-generation free trade agreement (FTA) attraction for 2020-2030, a key piece of the socio-economic development strategy for 2021-2030.
Leaders from ASEAN capitals on July 7 inked a Singapore Declaration on sustainable environment during the closing of their two-day meeting held in the island country.
The United States under President Trump has in effect launched a trade war with its announcement of new tariffs targeted at imports from US allies and China. But this strategy could backfire, with devastating effects that reverberate far beyond the US.
Manufacturers in developed markets are eager to explore the digital technologies covered by the 'Industry 4.0' label, but Asean firms have been slower to get onboard, says McKinsey in its report Industry 4.0: Reinvigorating ASEAN Manufacturing for the Future. ASEAN BUSINESS summarises the report's main insights.
With a trade war over steel and aluminium between the US and China, Europe, and other major economies looming, climate change represents another possible flashpoint for a new kind of trade war. President Trump has announced his intention to withdraw from the Paris Climate Agreement, meaning that the US would be the only country in the world not to participate.
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