Agreement supports European firms’ investment in Vietnam
A cooperation agreement was signed between the Ministry of Foreign Affairs and the European Chamber of Commerce in Vietnam , aiming to support European investors in Vietnam
A cooperation agreement was signed between the Ministry of Foreign Affairs and the European Chamber of Commerce in Vietnam , aiming to support European investors in Vietnam and promoting Vietnam’s exports to European markets.
Addressing the signing ceremony in Hanoi on October 26, Deputy Foreign Minister Le Hoai Trung revealed that Vietnam plans to complete negotiations on seven trade agreements in 2015-2016, thus forming a system of 15 trade agreements with over 57 partners worldwide, including 11 strategic partners of the country.
Once completed, the trade deals are expected to open up vast markets for Vietnamese exporters as well as attract foreign investment into the country, he stressed.
The Ministry has established a Department for Local Foreign Affairs, which is responsible for working with localities to remove legal obstacles thus facilitating foreign investment in Vietnam and Vietnamese firms’ exports to foreign market, Trung said.
Many provinces and cities across the country have perfected preferential policies for foreign-invested enterprises, he noted.
Commenting on investment advantages in Vietnam, Head of the European Union Delegation in Vietnam Bruno Angelet affirmed Europe considers Vietnam as one of the 13 strategic and high-advantage markets in Asia.
Vietnam is home to 1,600 projects worth 1.9 billion USD run by over 800 European businesses in a wide range of fields.
Angelet forecasted that EU investments in Vietnam along with trade turnover between Vietnam and Europe are likely to witness a remarkable growth in the coming time as Vietnam and the EU have lifted their ties to an equal and comprehensive partnership and the Vietnam-Europe trade agreement is scheduled to become effective by the end of 2016.
European businesses are interested in financial service, logistics, manufacturing industry and education in Vietnam, he added.-VNA
Claudio Dordi, Chief Advisor of the EU-MUTRAP has suggested Vietnamese garment-textile and leather footwear businesses pay more attention to product origin rules and increase distribution channels.
Experts pointed out opportunities and challenges facing local businesses and authorities once an FTA between Vietnam and the EU is signed while at a seminar in Ho Chi Minh City on October 26.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
The signing ceremony (Source: //www.tin247.com)
