The dependence on imported industrial materials has made Vietnam's product prices less competitive, reducing the autonomy of domestic production. If we want to stop importing all kinds of things, the key solution is breakthrough and methodical investment for the material industry, especially in science and technology.
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Supporting enterprises in applying digital technology amid the surge of the Fourth Industrial Revolution and the health crisis will be among the keys for Vietnam to achieve sustainable development and high growth.
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Once in effect, the recently-signed Regional Comprehensive Economic Partnership is expected to boost Vietnam’s logistics industry, creating more opportunities for all players in the country.
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The recently signed Regional Comprehensive Economic Partnership (RCEP) includes 10 ASEAN member countries and five countries with which ASEAN has signed Free Trade Agreements (FTAs) namely Australia, China, Japan, the Republic of Korea and New Zealand.
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The OECD and the G20 released a new blueprint for taxing the digital economy, which would allow countries like Vietnam to tax elusive multinational enterprises.
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After reassessment, the Vietnamese economy is expected to enjoy an even bigger scale from next year, better reflecting the country’s economic structure.
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Along with the signing of the Regional Comprehensive Economic Partnership, ASEAN as chaired by Vietnam is calling for more intra-investment and foreign direct investment into the region, in an aim to make the bloc more affluent, with Vietnam surging to become a bright spot for funding.
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The Regional Comprehensive Economic Partnership (RECP) has just been signed on November 15 and is expected to take effect next year. This world's largest FTA will create a great opportunity to help Vietnam promote exports, while not creating a "shock" of trade deficit from markets, especially the Chinese market.
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The world is facing many sustainability challenges that need concerted efforts from different stakeholders to address to fulfil the UN's 2030 Agenda. Sustainable development will continue receiving great attention around the world and in Việt Nam in the next decade.
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Japan has always been one of the most important strategic foreign investors in Vietnam. Since the beginning of 2020, the investment wave from Japan has increased, meaning Vietnamese enterprises have to quickly develop strategies to seize opportunities.
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