Businesses should aim for sustainable economic development by using environmentally friendly production and “green” financial sources, experts have recommended.
Vietnamese companies should further invest in and trade with Myanmar, Thailand, Laos, and Cambodia, which are members of the Association of Southeast Asian Nations, heard a forum in Ho Chi Minh City on March 28.
Vietnam recorded a trade surplus of US$536 million in the first quarter of 2019, according to the General Statistics Office. In the January-March period, Vietnam’s exports were estimated at US$58.51 billion, up 4.7% against the same period of last year, while imports rose 8.9% to US$57,98 billion.
Mikihisa Nakagawa of the Japan External Trade Organisation (JETRO) said while they appreciated the Vietnamese Government’s reform of import formalities, JETRO and Japanese businesses want a further reduction in the frequency of sample testing during customs clearance and greater transparency in the testing process.
Vietnam will not import plastic scrap from 2025 and will deal with the scrap consignments stuck at ports, the government has said. It has ordered the Ministry of Natural Resources and Environment to work with other government bodies to eliminate unnecessary procedures which are delaying their delivery.
With China making headlines for its growing business moves in Greece, there’s quietly been slowly growing links with Vietnam, including hopes to expand trade, have naval cooperation for maritime security, and exchanges of teachers, scholars and students.
Vietnamese Prime Minister Nguyen Xuan Phuc suggested the Democratic Party of Korea to continue supporting the Vietnamese and Korean governments to foster trade and economy cooperation, heading to raising the two- way trade turnover of US$ 100 billion by 2020.
Prime Minister Nguyen Xuan Phuc encouraged the United Arab Emirates’ (UAE) Investment Corporation of Dubai to expand investment in Vietnam, while hosting the group’s Executive Director and CEO Mohammed Ibrahim Al Shaibani in Hanoi on March 25.
Foreign and domestic investment has led to an annual growth rate of 10 percent for the food processing industry sector in recent years.
After a two-month trade deficit, the economy is expected to witness high export turnover this year thanks to buoyancy in export-oriented manufacturing fuelled by multilateral trade pacts.
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