Though exports remain strong, several sectors face difficulties due to the COVID-19 pandemic and require support from the Government if they are to sustain the growth, experts said.
Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.
Vietnam is among the top expansion destinations for ASEAN companies looking for growth opportunities in the 10-nation bloc, according to a survey commissioned by Standard Chartered for its “Borderless Business: Intra-ASEAN Corridor” report released on July 8.
Europe may be a large market for Vietnamese goods, but businesses need to ensure quality standards and consumption trends to fully capitalise, a workshop has been told.
The potential for organic agricultural development in Vietnam is still great and the opportunity for organic agricultural products from Vietnam to enter Australia is very promising in the near future, said Nguyen Van Kien, Director of Canberra-based Mekong Organics Company.
Vietnam exported around 3.2 million tonnes of pellets of various types last year, making it the world’s second largest exporter of the products, according to the General Department of Customs.
Vietnamese enterprises need to take advantage of the wave of investment from Vietnam to Laos to increase their export scale. Along with the wave of investment, Vietnamese enterprises can increase exports of items such as iron and steel, means of transport and spare parts, machinery, fertilizers and animal feed.
Over three tonnes of Bac Giang lychees meeting GlobalGAP standard recently passed customs clearance at Frankfurt airport, Germany thanks to a transaction via the Vietnamese e-commerce platform Voso.
The volume of cargo going through seaports has been on the increase thanks to free trade agreements (FTAs).
The US Department of Commerce (DOC) has announced the final results of the 16th period of review (POR16) for the period from August 1, 2018 to July 31, 2019, regarding Vietnam’s tra and basa fish (pangasius) exported to the US.
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