Việt Nam posted a surprisingly high 21 per cent year-on-year growth in export value in 2017. Deputy Trade and Industry Minister Đỗ Thắng Hải talks to chinhphu.vn about how this happened, and what 2018 portends.
According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the US, Australia, South Korea and the EU.
Foreign traders not present in Việt Nam will have the right to export or import under Vietnamese law and international treaties that the country has signed.
The government will strive to reduce and simplify half its of current existing conditional business requirements in 2018 in an effort to improve Vietnam’s business climate to boost growth.
Import tariffs on around 400 items traded between Asean and China will be cut to 0-5%, starting from Jan 1, 2018, as part of the continuing stages of the Asean-China free trade agreement (FTA). The pact is expected to help double trade value between the two sides to US$1 trillion (32.7 trillion baht) by 2020.
Statistics from the Ministry of Planning and Investment (MPI) show that from pledged and disbursed FDI of US$1.56 billion and $262.5 million, respectively, in the 1988-1990 period, the 30th anniversary of the FDI law in 2017 saw the figures hit record highs of $35.88 billion and $17.5 billion. Võ Trí Thành.
The export of major agricultural products was estimated at $18.96 billion, a year-on-year growth of 15.7 per cent and that of seafood at $8.32 billion, 18 per cent higher than last year. The export value of forestry products in 2017 was estimated at $7.97 billion, an increase of 9.2 per cent year-on-year.
Vietnamese State President Tran Dai Quang held talks with his Polish counterpart Andrzej Duda in Hanoi on Tuesday, as part of the latter’s state visit to the Southeast Asian country from November 27 to 30.
The Việt Nam – China Friendship Association in HCM City yesterday reviewed its achievements over the last five years and made plans to hold more cultural exchange events, seek more financial resources, and explore more business opportunities between local firms and Chinese partners.
The Việt Nam Private Sector Forum (VPSF) will try to create a space for businesses to voice out their proposals.
| The site is done with the technical support of the project BWTO |
