Vietnam’s footwear industry stands to benefit from the upcoming EU-Vietnam Free Trade Agreement (EVFTA), according to industry leaders.
European enterprises will have their agricultural and foodstuff products protected in Vietnam through which they can boost exports thanks to the country’s commitments to protect geographical indications under the EU-Vietnam Free Trade Agreement.
Vietnam is beefing up textile and garment digitalisation co-operation with South Korea to improve production and make full benefit of the EU-Vietnam Free Trade Agreement.
Vietnamese seafood exporters must meet the strict requirements for traceability and the quality of their products to benefit from the free trade agreements Vietnam has signed, said experts at a workshop in HCMC on Wednesday, reported Nguoi Lao Dong newspaper.
The development of the domestic auto industry offers more opportunities for Viet Nam’s industrial market, according to the consulting firm CBRE Vietnam.
Vietnam plans to import electricity to overcome the imminent electricity shortage caused by delays in building new power plants.
Japanese drugstore chain Matsumotokiyoshi Holdings plans to expand to Vietnam amid the increasing demand for health-related products.
Vietnam has been advised to apply Japanese technical standards and remove some obstructions, including those regarding tax and incentives in order to develop the country’s supporting industries.
The seafood industry must envision a long-term strategy to make full use of new trade pacts and prepare for problems that might arise when they take effect, Truong Dinh Hoe, VASEP general secretary, said.