Trade - Service

The Vietnamese retail market would hardly attract more European retail groups in the mass segment due to the harsh competition.

Total steel and iron import of Vietnam in the four-month period reached 4.67 million of tons worth US$3.12 billion, up 9% in volume and 3.4% in value year on year.

However, the US-China trade tension may benefit Vietnam through trade diversion, as well as the potential relocation of foreign firms away from China to Vietnam.

Competition helped eliminate monopoly in Vietnam’s aviation market.

Insurance companies have reinvested VND328.7 trillion (US$14.08 billion) into the economy during the four-month period, up 26.5% year-on-year.

Vietnam has an opportunity to jump in and offer goods that avoid the increasing tariffs.

Vietnam gives priority to the comprehensive partnership with Denmark and the all-round cooperation with Bulgaria.

Car rental has emerged to be one of the most prominent services in the country of fast urbanization and the increasing growth of middle-class population.

Vietnam’s participation in the CPTPP would help the country perfect legal frameworks and improve the business environment towards greater transparency, smoothness and fairness.

It is estimated that the EU-Vietnam FTA (EVFTA), the “most ambitious” FTA the EU has ever concluded with a developing country, will add 0.1 percentage point (ppt) on average to Vietnam’s real GDP growth each year based solely on its trade impacts.

A successful digital transformation would help Vietnam’s GDP increase by US$162 billion over the next 20 years.

Vietnam`s trade turnover reached US$156.8 billion in the first four months of 2019, up 8% year-on-year.

Since former president Bill Clinton lifted the trade embargo against Vietnam in 1994, relations between the former foes have grown ever warmer, despite or perhaps because of China’s rise as a major regional power.

Vietnam will face difficulties in exporting as global growth is slowing down, dragged down by China. Electronics and mobile phones also run into difficulties with a global saturation.

Vietnam has the largest FTA utilization rate in the Indian market at 72%, Chile and South Korea came second and third at 67% and 60%.

Vietnam and Thailand are experiencing a boom in mobile payments as more people use e-wallets to pay for goods and services.

With 40% of the population below the age of 24 and their greater propensity for digital technology, many of these younger consumers are driving the rapid expansion of Vietnam’s e-commerce market.

The agreement, along with the EU-Vietnam Investment Protection Agreement (EVIPA), is a specific step to brings benefits to Vietnam, EU and Romania, said Romanian President Klaus Iohannis.

Convenience store channel has become a battlefield for domestic and foreign retailers due to its great potential.

Trade surplus in the first quarter reached US$1.4 billion, down 47.5% year-on-year.