Vietnam targets US$300-billion exports in 2020
In 2019, for the first time Vietnam’s trade turnover exceeded the US$500-billion mark to reach nearly US$517 billion, of which exports stood at US$263.5 billion, up 8% year-on-year.
In 2019, for the first time Vietnam’s trade turnover exceeded the US$500-billion mark to reach nearly US$517 billion, of which exports stood at US$263.5 billion, up 8% year-on-year.
Vietnam’s targets of becoming Asia’s logistics hub would only be feasible if local firms can fence off competition from the world’s major logistics players.
Vietnam is committed to opening the financial market to foreign investors, particularly in financial services.
Vietnam is getting into a position where investment and manufacturing are becoming much easier to establish, said a Maersk executive.
Business sectors that could capitalize on the 100 million population will be set for strong growth, said an expert.
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.
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.