Failure to grasp and comply with the technical requirements of the importing country will create difficulties for businesses on the export path.
Exports to the US continue to grow and are expected to reach over US $100 billion in 2024. However, in addition to the growth in trade turnover between the two countries, the US currently has many barriers for Vietnamese export enterprises, typically trade defense measures.
Refraining from rushing, implementing steps gradually, and maintaining a clear vision are the recommendations that experts give to wood industry enterprises for successful digital transformation.
Vietnam's consumer goods industry currently has the fastest growth rate in the ASEAN region. However, for sustainable development in the future, businesses in the fast-moving consumer goods industry need to aim for green consumption.
Stating that trade disputes have a significant impact on import-export activities of businesses, talking to the press, Mr. Tran Viet Anh, Vice Chairman of the Ho Chi Minh City Business Association, made many recommendations for businesses.
In commercial disputes that are required to be resolved at the Vietnam International Arbitration Center (VIAC), many Vietnamese businesses are suffering disadvantages due to negligence right from the negotiation and contracting.
Nordic countries often map out policies to achieve EU goals sooner than others. Among them, general principles and standards regulating manufacturers' responsibilities for textiles and garments from Nordic countries need to be paid attention by businesses.
Vietnam is currently a signatory to 16 free trade agreements (FTAs), which are described as highways connecting Vietnam’s economy with major trading partners in the world. In the agricultural sector, FTAs have become a powerful driving force, marking significant achievements across the entire industry.
While the EU-Vietnam Free Trade Agreement (EVFTA) has benefited businesses for four years, there are still more advantages that can be sought out. Dominik Meichle, chairman of the European Chamber of Commerce in Vietnam, discussed with VIR’s Bich Thuy about how to fully capitalise on future opportunities.
Compared to other countries in the region, Vietnam has many favorable conditions to develop the Halal industry (standard products and services for Muslims); especially the Vietnamese Government is also very interested in opening up and support Vietnamese businesses to effectively participate in the global Halal market.
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