The Vietnam-Israel Free Trade Agreement, which was signed on July 26 after seven years of negotiations, would create a conducive atmosphere for the export of Vietnamese products to Israel, according to many experts.
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Deputy Prime Minister Tran Hong Ha on July 27 hosted a reception for Steven Winn, Chief Global Strategist and Senior Managing Executive Officer of JERA Co. Inc.
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It is necessary for domestic enterprises to switch to green textile and garment production in an effort to achieve sustainable development goals and cope with the gradual loss of Vietnam’s cost advantage, insiders have said.
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The Ministry of Industry and Trade (MoIT) recommended on July 25 that Vietnamese companies be cautious and thoroughly negotiate payment clauses when conducting transactions with foreign firms, following a suspected scam involving five batches of Vietnamese farm produce in Dubai.
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The UK is set to recognise that Vietnam’s industries are operating in a market economy and will not impose unfavourable rules should they be investigated under trade defence measures, according to the Trade Remedies Authority of Vietnam.
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The Asian Development Bank (ADB) has revised its GDP growth forecast for Vietnam down to 5.8% for 2023 and 6.5% for 2024, from 6.5% and 6.8% in April, respectively, according to the Asian Development Outlook (ADO) released on July 19.
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When the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has the UK as a new member, more cooperation opportunities will open up for Vietnam and the European country, according to insiders.
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Addressing a conference on Vietnam investment in Singapore on July 17, as part of his ongoing official visit to the country, Foreign Minister Bui Thanh Son stressed investment cooperation has become a highlight in bilateral relations, actively contributing to the socio-economic development of both Vietnam and Singapore in recent times.
Read more...Minister of Planning and Investment Nguyen Chi Dung on July 14 met with representatives of the US government agencies, organisations, businesses, investment funds and large corporations to promote cooperation in innovation and technology; research, exchange experiences and attract resources to building an international financial centre; and promote and attract investment to high-tech projects in Vietnam.
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Countries like Vietnam and Indonesia could be beneficiaries if firms start to look for low-cost production centres in Asia, particularly for labour-intensive and low-margin industries, Savills Asia Pacific has said.
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