European businesses are more positive about Vietnam trade and investment environment in the first few months after COVID 19 the Business Climate Index BCI unveiled by the European Chamber of Commerce in Vietnam EuroCham on July 22 showed.
Việt Nam must hasten the process of issuing legal documents and institutional reform to implement free trade agreements (FTAs) and take advantage of these trade deals to boost exports.
Online high-level talks between Prime Minister Nguyen Xuan Phuc and his New Zealand counterpart Jacinda Ardern, scheduled for July 22, demonstrate Vietnam’s wishes and commitments to work together with New Zealand to quickly advance bilateral ties to a new high.
In the first six months of the year, four export commodity groups reached turnover of US$10 billion or more, an increase of one group compared to the same period in 2019.
Vietnam’s effective COVID-19 control measures to date and gradual yet prudent reopening has enhanced its attractiveness as a business destination, HSBC said in its Navigator report themed “Building Back Better”, released on July 21.
Prime Minister Nguyen Xuan Phuc approved the plan on the implementation of the Vietnam – US agreement on customs mutual assistance. The PM assigned the Ministry of Finance to chair the implementation of the agreement within the scope of its functions and competence in cooperation with concerned ministries and agencies.
Flexible rules of origin in the European Union-Việt Nam Free Trade Agreement (EVFTA) will help local plastic enterprises take full advantage of preferential tariffs when exporting to the EU market.
In the second half of June, import-export turnover improved, helping the total turnover of the first six months to reach US$ 240,12 billion.
Rice quotas for Vietnam under the Vietnam-EU Free Trade Agreement are expected to push Vietnam’s rice exports up from the second half of this year, according to the Ministry of Industry and Trade.
With diplomatic relations between Vietnam and Canada first established in 1973 and relations upgraded to a comprehensive partnership in 2017, recent years has seen both sides strive to develop the relationship, despite the recent impact of the novel coronavirus epidemic.
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