The European-Viet Nam Free Trade Agreement (EVFTA) is also expected to be approved by the 14th National Assembly in its ongoing ninth meeting. Under the agreement, tax imposed on exports from Viet Nam to EU will be eliminated as soon as EVFTA takes effect or shortly thereafter (maximum seven years). Thanks to the EVFTA, Viet Nam’s revenue from exports to the EU is forecast to surge by 44 per cent by 2030. … [Read more...] about Can Vietnam could take advantage of new foreign investment strategies?
Attract foreign investors
As the US-China relationship has become worse and the trade war escalated, there have been many discussions in the US and other countries on how to ease reliance on Chinese economy and the companies from China. Nikkei reported that the Japanese government would prop up 70 billion yen to Japanese enterprises in this campaign. Prior to that, it also provided grants of 243.5 billion last April to help Japanese enterprises ease the reliance on China. … [Read more...] about Strategies for new FDI trends in Vietnam
Hanoi (VNA) - Top leaders of Vietnam have extended congratulations to leaders of Singapore on the country’s 55th National Day (August 9). Party General Secretary and State President Nguyen Phu Trong sent a letter of congratulations to Singaporean President Halimah Yacob. Prime Minister Nguyen Xuan Phuc extended congratulations to his Singaporean counterpart Lee Hsien Loong. On the occasion, Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh congratulated Singaporean Minister for Foreign Affairs Vivian Balakrishnan. Vietnam and Singapore officially set up diplomatic ties on August 1, 1973. Singapore has emerged as the biggest foreign investor in Vietnam in the first four months of 2020 with 5.07 billion USD, accounting for 41 percent of the total./. … [Read more...] about Congratulations to Singapore on National Day
If you take a closer look into the complementarities of our two economies, greater interdependence is really a win-win situation. These positive effects will of course only materialise if the promises and obligations of the agreements are swiftly put into practice. The benefits of the agreements will depend on the level of transparency and predictability of government behaviour in contact with business. Businesspeople and investors can be shy and have options to move elsewhere. Attracting and retaining more European FDI will require reforms and streamlining of rules and procedures. Digitalisation and access from outside of Vietnam to start and accomplish these procedures could help attract more small- and medium-sized global players. VIR … [Read more...] about How the EVFTA and EVIPA will help Vietnam lure investment