Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19.
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Following the implementation of several bilateral and multilateral free trade agreements (FTAs), along with a number of impending FTAs, Vietnamese products have enjoyed a number of comparative advantages when gaining entry into demanding markets, according to the Ministry of Industry and Trade (MoIT).
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The Government has been urged to develop a legal framework for the Small- and Medium-sized Enterprises (SMEs) Development Fund in terms of direct lending, in addition to trust and indirect lending services provided through commercial banks, to provide broader access to soft loans by SMEs.
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Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, as Chairman of the East Asia Business Council (EABC) in 2020, recently handed over the EABC Chair to Hak-hee Jo, Executive Managing Director of the Korea International Trade Association.
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The mammoth trade deal Regional Comprehensive Economic Partnership (RCEP) is expected to unlock more export markets for Vietnamese agricultural products, according to insiders.
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Trade and investment ties between Việt Nam and India, both dynamic and rapidly developing economies, are not commensurate with the potential and need to be enhanced, according to their officials and diplomats.
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Japan and Vietnam are fostering bigger cooperation in building up an efficient e-government in the Southeast Asian nation, with the former expected to share its experiences and know-how with the latter as it realises its national strategy on Industry 4.0.
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Halonoviny.cz, an e-newspaper of the Czech Republic, has recently run an article highlighting Vietnam’s outstanding achievements over the past years, particularly in the fight against COVID-19 and economic growth.
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Both the nation and Canada must strive to take full advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which both are signatories, along with other free trade agreements (FTAs) in order to better facilitate bilateral trade and investment ties.
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Nikkei Asia, a global leading financial newspaper run by Japanese media giants Nikkei Inc., has recently hailed Vietnam’s success in economic development amid the novel coronavirus (COVID-19) epidemic.
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