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The city expects to promote the Hanoi brand as an attractive tourism destination the region and the world, and advertise the city’s image at major markets.

Vietnam is one of only four Fitch-rated sovereigns in the Asia Pacific that Fitch Ratings expected to post positive economic growth in 2020.

Vietnamese economy’s resilience, the government’s capable handling of the pandemic, and it being a beneficiary of supply chain relocation could help the country rebound quicker versus the region.

Following the handover of the diplomatic note, the Vietnam – EU trade deal is set to take effect on August 1, 2020.

The country’s retail network could be modernized thanks to European investment, technologies and high standard governance.

The soon implementation of both the EVFTA and EVIPA would create new driving forces for further cooperation between Vietnam and the EU.

Following the ratification, the EVFTA would enter into force 30 days after the mutual notification between Vietnam and the EU about the completion of respective legal procedures.

Vietnam’s National Assembly is set to ratify the deal at the upcoming gathering on June 8.

Once the deal comes into force, it would create a new driving force for the comprehensive partnership between Vietnam and the EU.

The trade deal with the EU would emphasize Vietnam’s geopolitical significance in the Southeast Asian and Asia – Pacific regions, said Vice State President Dang Thi Ngoc Thinh.