After the EU-Vietnam Free Trade Agreement was put into place one year ago, Vietnamese businesses have begun to optimise opportunities brought by the deal.
Some of Vietnam’s major export products are threatened to lose access to their usual markets as ocean freight costs continue to skyrocket.
Vietnamese agricultural product exporters that want to establish long-term business relationship with the UK need to have appropriate strategies, and approach potential partners in order to take advantage of export opportunities to this important market – the second biggest economy in Europe, advised Nguyen Canh Cuong, Vietnamese Trade Counselor in the UK, at a recent consulting webinar.
As an active member of the Association of Southeast Asia Nations (ASEAN) and a reliable partner of Russia, Vietnam is ready to serve as a bridge connecting Russia and the Eurasian Economic Union (EAEU) with ASEAN nations, Vietnamese Minister of Industry and Trade Nguyen Hong Dien said.
While the investment flow from traditional partners has shown signs of slowing down, the exploration of new markets will help Vietnam maintain success in attracting foreign investment.
Vietnam will promote cooperation with partners in the ASEAN Smart Cities Network (ASCN) while working with relevant agencies and localities to increase development chances, especially technological application in the COVID-19 fight, the Ministry of Construction said at the fourth annual meeting of the ASCN which was held in the form of videoconference on August 30.
Singapore became the largest foreign investor in Vietnam in the first eight months of 2021 with total investment capital of US$6.2 billion as of August 20, accounting for nearly 32.5% of total foreign direct investment (FDI) in Vietnam.
Deputy Prime Minister Pham Binh Minh has asked relevant ministries and agencies to take solutions to push ahead with national and ASEAN one-stop-shop mechanisms.
Vietnam is likely to remain foreign investors’ favoured destination despite the COVID-19 resurgence ravaging across the country, The Australia Financial Review (ARF) said in a story published earlier this week.
The amount of rice exported by firms is in stock and exists in large yards due to the impact of the Covid-19 pandemic. Ports, especially Cat Lai port, have taken over the work of packing rice to aid rice exporters.
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