Trade - Service

Direct impacts from the CPTPP agreement would not be significant, but means a more stable and predictable environment for logistics firms in Vietnam, according to an expert.

Of 100 million Vietnamese people, 60 million are Internet users with high demands for audiovisual services, including streaming services.

The neighboring country remained Vietnam’s leading supplier of steel over the last three years, with the quantity and value growing at two-digit growth rates annually.

In 2018, the bilateral trade turnover reached US$7.7 billion, up 19.3% year-on-year, including Vietnam’s exports of US$4 billion to Australia.

The issue of labor shortage is becoming more severe as Vietnam is a member of ASEAN Economic Community (AEC) and is joining in a number of next generation free trade agreements.

Tariffs were a major reason behind the decline in US imports from China.

An average GDP growth rate of 7% in the 2021 – 2025 period would translate in income per capita of US$4,688, taking Vietnam to the bracket of high-middle income country.

The US-China trade war may be behind such a record figure.

Sendo, along with homegrown marketplace Tiki, is competing with regional players like Lazada and Shopee for shares in Vietnam’s e-commerce market.

The Canadian Delicacies Hanoi event is part of the embassy’s series of activities to promote the Canadian agri-food and seafood sector to the Vietnamese market.

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

The expo is a chance for Russians exhibitors to enter the market of nearly 100 million people.

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.

Vietnam could get rid of its most large tax incentives without harming its growth or competitiveness, said an Oxfam expert.