The Regional Comprehensive Economic Partnership (RCEP), which entered into force on January 1, 2022, is expected to boost Vietnam’s export and improve its access to large consumer markets, according Standard Chartered Bank.
Vietnam exported 13.1 million tonnes of iron and steel worth US$11.8 billion to the EU last year last year thanks to the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), up 32.9% in volume and 124.3% in value compared to 2020.
The Ministry of Industry and Trade (MoIT) is carrying out procedures for infrastructure investment for two centres facilitating industrial development in the northern and southern regions, according to the ministry's Industry Agency.
ASEAN's 700-million market has a lot in common with Việt Nam in terms of culture, habits and preferences, according to the Ministry of Industry and Trade (MoIT), and there is still room to grow for Vietnamese exports in ASEAN markets, including Vietnamese rice.
The Vietnam National Textile and Garment Group (Vinatex) enjoyed a year-in-year surge of 144.2 percent in revenue to over 5.15 trillion VND (224.26 million USD) in the first quarter of 2022, completing 28.5 percent of its target for the whole year.
Vietnam’s logistics market is worth around 40-42 billion USD a year, and digital transformation among businesses is considered key to their success in this competitive market.
In the first quarter of 2022, Vietnam's export turnover to India reached US$1.92 billion, up 12.6% over the same period last year.
Experts urged enterprises to make preparations to be able to take opportunities arising from the Regional Comprehensive Economic Partnership (RCEP).
Enterprises expect greater reforms to truly create a favourable business environment, according to the Việt Nam Chamber of Commerce and Industry (VCCI).
Deputy Prime Minister Le Minh Khai signed Resolution No. 54/NQ-CP dated April 12 issuing the Government’s action programme to implement the National Assembly’s resolution on economic restructuring plan for 2021-2025.
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