The relocation of multinational corporations has accelerated the shift of foreign investment capital to Vietnam’s supporting industries to accommodate the lack of local suppliers.
Credit ratings agency Fitch Ratings has revised Vietnam’s outlook from stable to positive, attributing its decision to the country’s growth and the resilience of public finances to the Covid-19 pandemic.
More Austrian investors are expected to pour billions of US dollars in high-tech projects in Vietnam which they consider a new investment base with numerous opportunities from the EU-Vietnam Free Trade Agreement.
Exporters have been beset by soaring transport expenses this year, with costs of transporting goods to the US soared just after costs to the EU normalised, according to the Vietnam Association of Seafood Exporters and Producers.
The ASEAN+3 Macroeconomic Research Office (AMRO) forecast the ASEAN+3 region will expand by 6.7 percent this year and 4.9 percent in 2022, after contracting marginally by 0.2 percent in 2020.
Vietnamese small- and medium-sized enterprises (SMEs) are urged to deal with their existing limitations to grasp the opportunities arising from the EU-Vietnam Free Trade Agreement (EVFTA).
The Vietnamese government has been angling for solutions to help local goods reach their EU destinations after being held up by the historic shipping blunder at the Suez Canal.
Removing bottlenecks in transport infrastructure and policy mechanisms is considered an important solution to help cut logistics costs and improve the competitiveness of Vietnamese businesses and goods in the time to come.
Việt Nam and its ASEAN neighbours need to adopt green manufacturing technologies to make sustainable new products and services, an international conference in Bình Dương Province heard on Tuesday (Mar 23).
The US is widely viewed as the main market which has contributed to the strong growth of local timber and wood product exports, with export turnover to the lucrative market in 2020 surging by 34.37% to US$7.166 billion, despite being heavily hit by the impact of the COVID-19 pandemic, according to the Timber and Forest Product Association.
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