After constant disruption due to the Russia-Ukraine conflict, seafood exports to the Russian market have shown many positive signals.
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Decree 35/2022/ND-CP of the Government removes inherent bottlenecks in the development of industrial zones (IZs) and economic zones (EZs). However, it is necessary to have a guiding circular soon so as not to cause confusion for investors.
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Inflation and a rising dollar are weighing heavily on seafood consumption in markets, especially big markets such as the US, EU, China, UK.The shadow of inflation seems to have begun to affect the market of Vietnam's seafood exports.
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The UK – Vietnam Free Trade Agreement (UKFTA) was providing significant opportunities for Vietnam to expand the export of steel and iron products in the UK.
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The US and EU are the leading export markets of Vietnam's wood processing and exporting industry. High inflation in these markets has been causing Vietnamese wood exports to face many difficulties, even posing challenges with an export target of about US$16 billion for the whole year.
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Mr. Ngo Sy Hoai, Vice President and Secretary General of the Vietnam Timber and Forest Products Association, said that the wood industry wants State management agencies to promote warning measures and recommendations, and at the same time support training, increase awareness and skills to respond to trade remedies in order to prevent and respond more effectively to trade remedies lawsuits.
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To promote sustainable export growth, economist Le Quoc Phuong, former deputy director of the Center for Industry and Trade Information (Ministry of Industry and Trade), said that it is important for the State to have policies to encourage and ensure implementation in order to bring exports from increasing in quantity to increasing in quality, increasing the localization rate and enhancing added value.
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As reflected by businesses to Government leaders, rising costs have been a big challenge affecting the speed of recovery and growth in the last months of the year.
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August 1, 2022 marks the 2nd anniversary since the effectiveness of Vietnam - European Union Free Trade Agreement (EVFTA).
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Vietnam has been participating in the negotiation and signing of many important Free Trade Agreements (FTAs), opening up great opportunities for exports. However, at the same time, Vietnamese goods are also facing more and more pressure of being investigated, applying trade remedies, especially anti-circumvention investigation for trade remedies.
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