It is estimated that the EU Vietnam FTA EVFTA the most ambitious FTA the EU has ever concluded with a developing country will add 0 1 percentage point on average to Vietnam real GDP growth each year based solely on its trade impacts.
Vũ Bá Phú, Director of the Việt Nam Trade Promotion Agency under the Ministry of Industry and Trade talks to Hải Quan (Customs) newspaper about trade promotion strategies to help Việt Nam take advantage of free trade agreements.
The General Department of Vietnam Customs has told provincial Customs units there is no need to consult customs valuation when the import duty is 0% during customs valuation management.
Vietnam high and steady economic growth in the past years has strongly drawn foreign capital and investment in local firms considered as the shortest way for foreign investors to enter the Vietnamese market.
When cross-border e-commerce develops, state management agencies face issues such as the need forlegal mechanisms in line with the development trend to ensure the management and facilitation to trade transactions that are commonworldwide.
Currently, the Ministry of Industry and Trade is one of the ministries with the most administrative procedures that must be connected to the National Single Window, thus, it is accelerating the connection in 2019.
Economic and trade relations between Việt Nam and China have been developing in a positive direction, as shown by the continuous increase of bilateral trade turnover between the two countries. Việt Nam is fast becoming an attractive investment destination for Chinese enterprises.
Following the relevant customs procedures when importing or exporting goods from Vietnam is one of the most vital aspects of doing business in a country where manufacturing costs are leveraged to its favor.
In 2017, the Việt Nam Fatherland Front, the Government Inspectorate, the Ministry of Labor, Invalids and Social Affairs and the Việt Nam Social Insurance jointly conducted a supervisory mission on the implementation of the Social Insurance Law in five random provinces and cities nationwide. During their mission, they detected a total of VNĐ28 billion (US$) in social insurance had not been paid by these provinces.
The Czech Republic-Việt Nam Business Forum was held in Prague yesterday within the framework of Prime Minister Nguyễn Xuân Phúc’s ongoing visit to the European country, drawing representatives of more than 100 enterprises and investors of both sides.
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