Việt Nam stands ready to cooperate with countries, including Canada, in recovering the global trade and supply chain, Deputy Prime Minister and Foreign Minister Phạm Bình Minh told Canadian Foreign Minister Francois-Philippe Champagne during their phone talks on Thursday.
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Việt Nam will strengthen the removal and simplification of business regulations in the next five-year period to create favourable conditions for enterprises and promote their development as a driver for socio-economic growth.
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To develop the support industry for the leather and footwear sector, the State should have policies to encourage the development of new materials, according to the Việt Nam Leather and Footwear Association (Lefaso).
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Strengthening the application of trade defence instruments would be necessary for Việt Nam, which was among countries with the highest economic openness level, according to the Ministry of Industry and Trade.
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Việt Nam's support industry is struggling to attract foreign investment as big companies look for alternative options to China during the COVID-19 pandemic.
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Instead of adopting the age-old “sell in May and go away” strategy, and focusing on months with traditionally stronger market growth, investors now could be more bullish about a stock rally, buoyed by optimism about a gradual reopening of businesses.
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Vietnamese lawmakers are scheduled to consider the ratification of the European Union – Vietnam free trade agreement (EVFTA) on May 20, the first day of the upcoming session of the current National Assembly.
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The policy to improve the localization rate of domestically manufactured cars has had a positive impact on domestic manufacturing and assembly activities, however it no longer maintains advantages due to the sharp increase in the volume of imported CBU cars from the beginning of 2019.
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It is now an important time for Việt Nam and the US state of West Virginia to cooperate in a joint effort on economic resumption and fighting the COVID-19 pandemic, Minister of Industry and Trade Trần Tuấn Anh has said.
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Enterprises in certain sectors have mapped out plans to increase their presence in the domestic market as most foreign ones have become frozen due to the COVID 19 pandemic.
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