The 15 countries in the Regional Comprehensive Economic Partnership carried out a virtual signing ceremony on November 15. Dr. Deborah Elms, executive director of the Asian Trade Centre, in Singapore delves into the specific details and explains how companies can get ready to utilise the agreement.
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Economic advisors have praised the outlined goals of a new socioeconomic development plan for the next decade and are offering recommendations before it is submitted to the government.
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The implementation of the Regional Comprehensive Economic Partnership (RCEP) after being approved will not create a "shock" on tariff reductions for Vietnam.
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ASEAN countries need to choose between recovery based on wasteful competition for investment or coordination, cooperation, and joint hands to generate sustainable tax revenue to spend on health, education, and other public goods that are essential to fight poverty and inequality.
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The Brunei government, as it takes over ASEAN Chairmanship from Vietnam in 2021, faces the daunting task of uniting members in addressing the biggest challenges of this generation. Driving the region’s economic recovery post-pandemic must undoubtedly be at the top of the economic bloc’s agenda.
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Vietnam needs to quickly build qualified raw material areas, develop machinery and technology and issue appropriate mechanisms to attract businesses to invest in fruit and vegetable processing to expand market share for these products.
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As the Second Indochina War came to an end, Belgium was one of the first nations to support the rebuilding of Vietnam. Since then, both nations have been continuously raising bilateral collaboration in multiple areas and are now looking forward to a long-term, mutually beneficial partnership.
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Ho Chi Minh City is the leading economic region of the country, under the impact of the pandemic, the production activities of enterprises were significantly affected. In particular, small and medium enterprises account for 98% of the total number of operating enterprises, requiring maximum support to restore production.
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The signing and implementation of Free Trade Agreements (FTAs) have brought many positive effects in market expansion and increasing goods export turnover to Vietnam. However, limitations such as the lack of understanding of enterprises and neglectfulness of local authorities means many opportunities from FTAs have been missed.
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Vietnamese businesses should prepare to export their products to other ASEAN countries ahead of the possible signing of the Regional Comprehensive Economic Partnership (RCEP) this week.
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