Ten years after the Vietnam-Japan Economic Partnership Agreement entered into force in 2009, with import tariffs removed already, Japanese consumer goods suppliers are looking into bolstering their presence in the Vietnamese market amid local and regional competition.
As private investment can play a significant role in increasing local power supply, experts have worked to find better mechanisms and policies to solve problems that have discouraged investment in the sector.
Localities throughout Vietnam are facing hefty challenges in developing their night-time economy as local governments struggle to shift preconceived notions of the sector.
Condotels have lost their attraction among investors due to tighter management restrictions, and farm stays have emerged as a new investment trend during the COVID-19 pandemic. However, experts have urged caution when investing in this model, given the risks of an incomplete legal framework and a potentially long wait for investors to make a return on the outlay.
The central and local governments and other agencies have announced a number of policies and programmes to help businesses overcome difficulties caused by the COVID-19 pandemic, but the many conditions they have to meet means not many have benefited from them, according to experts.
Recent decisions to impose stricter management on condotels and officetels are pushing developers and investors into a miserable situation, as the whole real estate market reels from the pandemic impacts.
Amidst the tumultuous difficulties and obstacles of the pandemic hitting the economy, businesses are doing their best to manage the challenges and look for some opportunities from free trade agreements and COVID-19.
Despite gaining licences years ago, a number of foreign-invested projects valued at billions of US dollars continue to lag behind schedule, with no solutions yet available for them to get out of the impasse.
The EU-Vietnam Free Trade Agreement (EVFTA) has come into force from the outset of August. Luong Hoang Thai, director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade talked with VIR’s Phuong Thu about the practical benefits and crucial tasks for the country to maximise the efficiency of the deal.
The Ministry of Labour, War Valids and Social Affairs (MoLISA) has proposed a VND18.6 trillion (US$798 million) package for those affected by the COVID-19 pandemic, helping them promote production and maintain employment.