After the Comprehensive and Progressive Agreement for Trans-pacific Partnership (CPTPP) took effect in Vietnam three years ago, exports to countries within the deal achieved impressive results. Therefore, it is crucial that businesses show initiative in research and understanding of regulations regarding the origin of goods, in order to take advantage of this agreement.
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According to experts, the economic stimulus package of VND350,000 billion will help the economy recover and develop.
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The increase in oil prices and raw materials for production are causing businesses to be more cautious in setting targets for 2022. Some units have set profit targets that are significantly lower than in 2021.
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Việt Nam has opportunities to build green and sustainable production and consumption in the wake of the country’s commitments to achieving net-zero carbon emissions by 2050.
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According to Deputy Minister of Planning and Investment Tran Duy Dong, the business environment is an important pillar of institutional reform to create the most favorable conditions for businesses of all economic sectors, especially in the context of the Covid-19 pandemic.
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Vietnam's wood processing and exporting enterprises will have to compete fiercely with businesses from other countries for imported raw wood sources, especially in the important markets for supplying wood materials to Vietnam, which are the EU and the United States.
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Facing rising petrol prices, many enterprises have actively recalculated their production and business plans, accepting a partial reduction in profits in order to maintain market share and income for employees.
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Regarding the orientation and roadmap to switch to official-quota export of agricultural products, the Ministry of Agriculture and Rural Development will propose the Ministry of Industry and Trade and the Ministry of Foreign Affairs to coordinate with ministries and branches to strengthen negotiations on opening more border gates for customs clearance and official import and export
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The conflict between Russia and Ukraine caused Russia to be excluded from the international payment system SWIFT, immediately affecting seafood exporters. Besides the immediate difficulties, there are also certain opportunities.
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While the Russia-Ukraine conflict will raise commodity prices and production costs the overall impact on Vietnam’s economy is not likely to be significant, experts say.
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