Trade - Service

The Vietnamese government gives priority to the Vietnam – Japan strategic partnership.

The rights of doing business have mainly been in the area of “what”, while “how” and “how much”, among others, still have much to be discussed, said an expert.

Such trend would help better meet transportation needs at more affordable prices, ensuring convenience, safety and improving service quality of both taxis and electronic-contract based vehicles, stated Prime Minister Nguyen Xuan Phuc.

Activities including trade expos are expected to tighten economic ties between the two countries which will celebrate the 70th anniversary of diplomatic ties next year.

While the recent trade tensions have merely accelerated the movement of supply chains to Vietnam, they were not the trigger.

This is an occasion for Vietnamese businesses to access and absorb experience in management and modern technology from their Russian peers.

If not properly addressed, illegal transshipment would increase the risk of Vietnamese compliant traders facing slower export procedures in the US, as well as higher customs duties, said an expert of the US Agency for International Development (USAID).

The FDI sector posted exports of US$149.83 billion in the January – October period, up 4.8% or US$6.93 billion year-on-year, accounting for 68.5% of Vietnam’s exports.

Deputy Prime Minister Vuong Dinh Hue requested FWD to invest in innovation startups in Vietnam, which are considered one of the country’s potential fields for development.

In Vietnam, 11 Business Associations have officially signed the Business Integrity Pledge to uphold the core values of integrity, ethical behavior, and accountability.

A major pillar of the Vietnam – Russia strategic partnership is trade and economic cooperation, in which the Vietnam – Russia Expo plays a significant part, according to Russian Foreign Minister Sergei Lavrov.

The number of expats in Vietnam rose from 72,172 in 2013 to 88,845 in 2018, the majority of whom are holding key positions, including manager, CEO and technician.

Customers of Seven.AM accused some products had Chinese labels cut off and replaced with the Vietnamese brand’s label.

There could be another wave of investment capital to Vietnam in 2020 in anticipation of the enactment of the EU – Vietnam Free Trade Agreement, as well as impacts of the US – China trade war, leading to a surge in imports of equipment, machinery and input materials, said Minister of Industry and Trade Tran Tuan Anh.

A slowdown in export growth of the foreign-invested sector could have a negative impact on Vietnam’s economy in 2020, according to SSI Securities Corporation, Vietnam’s largest brokerage house.

This resulted in Vietnam importing an average of 9,230 cars per month and over 300 cars per day, and car imports of nearly US$1.75 billion during the period, up 250% year-on-year.

The 2020 socio-economic plan stressed the importance of restructuring the economy by revising the growth model, and accelerating the implementation of major projects that serve as driving forces for growth.

The ratification of the EU – Vietam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) would bring substantial benefits to all concerned parties, while improving the current modest trade turnover between Vietnam and Slovenia.

In order to ensure transparency and publicity, Vietnam invited the International Monetary Fund (IMF) and representatives of the United Nations to take part in the recalculation process.

US enterprises want to contribute to Vietnam’s development, said US Secretary of Commerce Wilbur Ross.