Vietnam trade surplus on track to beat 2019's all-time high
Vietnam’s exports to key markets such as the US and EU sharply rebounded across many sectors.
Vietnam’s exports to key markets such as the US and EU sharply rebounded across many sectors.
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.
EVFTA provides a means of market diversification for EU and Vietnamese businesses.
Vietnam's trade turnover is likely to have reached US$238.4 billion in the first half this year, down 2.1% year-on-year.
Once Vietnam's parliament ratifies the trade deal, it can enter into force 30 days after Vietnam and the EU have notified each other that legal procedures have been completed.
Once Vietnam's National Assembly also ratifies the EVFTA, the agreement can enter into force, most likely in early summer 2020.
Companies in the industry could lay off 30% of their employees in April and 50% in May due to the lack of orders.
The growing numbers of order delays and cancellations are purely based on decisions of buyers from these markets as the Covid-19 pandemic is taking its toll on the US and EU economies.
Some importers from US and EU, major markets for Vietnam’s textile and garment industry, have stopped orders within three to four weeks on Covid-19 pandemic.