Policies and regulations must be ready once the Europe-Việt Nam Free Trade Agreement (EVFTA) is approved so Vietnamese enterprises can reap the benefits of the trade pact, experts said on Monday.
Read more...After a serious decline in the first two months of the year, in the future, seafood exports are expected to continue facing many difficulties due to the impact of Covid-19. Notably, the trend of seafood consumption has changed significantly, moving from fresh goods to frozen goods.
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Việt Nam is in need of major investors in fruit and vegetable production in order to boost processing, especially in the packaging and post-processing stages, to preserve products for longer and enhance their value.
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Management agencies have put in place drastic steps in a bid to support businesses as they actively seek out sources of raw materials to be used in production whilst boosting trade promotion activities.
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Specialised inspection reform for import and export goods has been deployed six years ago, when the Government issued Resolution 19/2014/NQ-CP requesting the Ministry of Finance coordinate with ministries and sectors in reviewing and re-evaluating import-export processes, dossiers and procedures; as well as reduce import-export time for businesses.
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In the first two months of this year, the electricity, electrical refrigeration, processing, and manufacturing industries continued leading in the foreign direct investment (FDI) capital attraction into Vietnam. According to experts, this comes from the advantage that the country has successfully signed the EU-Vietnam Free Trade Agreement.
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Việt Nam’s export value of wood and wood products reached US$1.53 billion in the first two months of this year, marking a year-on-year increase of 10.1 per cent, according to a report by the Ministry of Agriculture and Rural Development.
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The EU-Vietnam Free Trade Agreement and Investment Protection Agreement raise many hopes for all of Vietnam’s economic sectors. John Campbell, manager of Industrial Services from Savills Vietnam, assesses the impacts of these new agreements on the Vietnamese industrial sector.
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At the end of May and early June, the Commission of European Commission (EC) will come to checkthe implementation of recommendations on combating illegal,unreported and unregulated(IUU)fishing for the third time. If we do not meet the recommendations, Vietnam will not only be unable to remove the "yellow card" but it will also be subject to the "red card" measure.
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Though the government has spared no efforts to improve the domestic business climate, business conditions are still barriers that make it difficult for enterprises to go ahead with breakthroughs. And this year is expected to see many reforms in the business environment.
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