Nine out of ten European companies want the European Union-Vietnam Free Trade Agreement (EVFTA) to be implemented next year, or as soon as possible thereafter, according to a report released by the European Chamber of Commerce in Vietnam (EuroCham).
General Department of Vietnam Customs sent documents to provincial Customs Departments for researching and implementing strictly Directive 27/CT-TTg about urgent solutions for strengthening the work of management for importing and using imported scrap for production.
The Foreign Secretary, Jeremy Hunt agreed a joint statement with the Vietnamese Deputy Prime Minister, Pham Binh Minh during his visit to the UK.
Prime Minister Nguyen Xuan Phuc has encouraged Japanese businesses to become strategic partners of Vietnam State owned enterprises SOEs especially in industrial infrastructure construction.
Vietnam has participated proactively and made significant contributions to the Mekong-Japan cooperation mechanism, which was set up ten years ago by Japan and five Mekong nations of Cambodia, Laos, Myanmar, Thailand, and Vietnam.
Vietnam will get selective with new FDI projects, rejecting those that don’t benefit the country, a senior official says. Minister of Planning and Investment Nguyen Chi Dung said even though FDI projects have made remarkable contributions to the Vietnamese economy, there were several drawbacks to be dealt with.
Vietnam’s trade as a percentage of GDP topped 200 percent last year, highest for any country with over 50 million people. This data, compiled by the World Bank, shows that the country is reaping the benefits of an open economy at a time that protectionism is on the rise, as can be seen by the U.K’s exit from the E.U. and the rising trade tensions between the U.S. and China.
The Prime Minister has just approved an action plan for promotion of National Single Window, ASEAN Single Window and reform of specialized inspection for import and export goods and trade facilitation for 2018-2020.
The central province of Nghe An has made various efforts to facilitate trade promotion activities and goods exchange with Laos, thereby boosting border trade between the two sides.
Low-tech, polluting FDI firms will try to set up shop in Vietnam as the U.S.-China trade war escalates, experts have warned. Nguyen Bich Lam, head of the General Statistics Office, said that small-scale Chinese firms are likely to eye a shift to Vietnam to avoid high tariffs imposed by the U.S.
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