Vinh Phuc assists enterprises in optimising EVFTA opportunities
Vinh Phuc assists enterprises in optimising EVFTA opportunities
The authorities of the northern province of Vinh Phuc are implementing a series of measures to help local enterprises fully tap the opportunities brought about by the EU-Vietnam Free Trade Agreement (EVFTA), which took effect in August 1.
Making sport shoes for export at the Phuc Yen shoe joint stock company - Photo: baovinhphuc.com
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Vinh Phuc is home to about 200 companies that involve in international trade. This year, the province’s import and export values are estimated to hit 3.14 and 2.9 billion USD, respectively. The EVFTA, which removes 84 percent of tariff lines, is likely to further bolster the growth of local firms.
According to the provincial Department of Industry and Trade, the EU is a demanding market which sets high standards for imported goods and services. As such, local exporters ought to have human resources training plans to improve their staff’s language and professional capacity in order to effectively study demand from the market.
Currently, the department is working with the Vietnam Trade Promotion Agency to support the training of e-commerce skills; design programmes to help exporters enhance their competitiveness; and facilitate firms’ participation in supply chains.
The provincial People’s Committee has paid attention to educational activities to raise awareness on the EVFTA for farmers, management agencies, cooperatives, and businesses, particularly those who are likely to be impacted by the deal.
Meanwhile, other provincial departments and sectors as well as district-level authorities have been tasked to examine locally issued legal documents during the implementation of the agreement with a view to making prompt changes to make them compatible to the pact.
