To remove difficulties for businesses, the Vietnam Steel Association proposes the Ministry of Finance to direct local tax authorities to extend tax payment time and budget revenues of steel enterprises to avoid putting more pressure on the business.
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Despite the export restrictions due to the high rise in sea freight, seafood export in the first two months of the year saw good growth as a number of commodities increased strongly.
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As reflected by exporting enterprises, since the end of 2020, container shipping rates have continuously increased from US$1,000/20-foot containerto nearly US$5,300/20-foot container. For a 40 feet container, this price was even higher, making it difficult for exporting businesses.
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Tea exports at the beginning of 2021 recorded strong growth over the same period last year. However, the difficulties from Covid-19, as well as a series of inherent weaknesses, including buying, selling, not controlling food quality, safety is a big problem for the Vietnamese tea industry if this industry wants to reach out further.
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Vietnam’s attraction of overseas electronics and technology conglomerates cannot be overlooked. However, as the government is focusing on long-term acceleration of research and development and incentives for this sector, a shift from merely manufacturing to creating may soon take place among foreign-invested enterprises.
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The growing stores of COVID-19 vaccines are widely regarded as a positive factor for foreign investment mobilisation this year as the world tries to move back to some kind of normality. Deputy Minister of Planning and Investment Tran Duy Dong told VIR’s Nguyen Huong about the solutions Vietnam will take to mobilise foreign investment and move forward.
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The United Kingdom-Vietnam Free Trade Agreement (UKVFTA), which was inked in December last year and came into force on the last day of the year, is a seamless part of Vietnam’s great efforts to achieve economic integration and development. Despite the great overlap between the UKVFTA and the EU-Vietnam deal (EVFTA), there are some differences, not only in terms of the objectives of the European contracting party, but also – to a lesser extent – in terms of content.
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In early 2021, Vietnam's agricultural, forestry and fishery exports had a relatively smooth start with strong growth numbers. Promoting the application of digital technology in agriculture in both production and market stages, removing barriers in key export markets is an important solution to help Vietnamese agricultural products reach theexport goal of US $44 billion this year.
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According to Dr. Nguyen DinhCung, an economist, member of the Prime Minister's Economic Advisory Group, former Director of Central Institute for Economic Management (CIEM), the internal force of the Vietnamese economy hasstrong development potential. It is important to know how to bring into play its strengths, mobilize all resources and quickly seize opportunities so that Vietnam can grow steadily and thrive in the 2021-2025 period.
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Regarding agricultural, forestry and fishery exports in 2021, Mr. Nguyen Quoc Toan, Director of Department of Agricultural Product Processing and Market Development, Ministry of Agriculture and Rural Development, said one of the key solutions to reach US$44 billion in exports is that it is necessary to promote the exploitation of the market group in the signed Free Trade Agreements (FTAs) along with traditional markets.
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