Hanoi (VNA) – TheComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) willtake effect in Vietnam as from January 14, 2019.
The 14th National Assembly ofVietnam passed a resolution approving the deal and related documents onNovember 12, 2018.
To help Vietnamese businesses fully understand commitments of the agreement inorder to optimise its opportunities, the Vietnamese Ministry of Industry andTrade (MoIT) has coordinated with the Australian Embassy in Vietnam and theWorld Bank to build a portal on free trade agreements to which Vietnam is asignatory, including the CPTPP.
The portal provides information about commitments and regulations in specificsectors towards each partner in the FTAs. It is expected to soon becomeoperational on the ministry’s website.
The CPTPP officially came into force on December 30, 2018 in Mexico, Japan,Singapore, New Zealand, Canada and Australia, the first six countries ratifyingthe pact.
It was signed by 11 member states, namely Australia, Brunei, Canada, Chile,Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam in March2018.
This is one ofthe most comprehensive trade deals ever concluded and strips 98 percent oftariffs for the 11 countries with a combined GDP of more than 13.8 trillion USDand close to 500 million consumers.-VNA
The 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into force on December 30, creating a free trade area covering more than a tenth of the global economy.
The CPTPP, which officially came into force on December 30, 2018, is expected to provide a push for Vietnam to reform its economic institutions and further improve the business climate to optimize opportunities brought by the deal.
The domestic market is expected to see considerable changesin 2019 as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) becomes effective from January 14, according to market watchers.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help raise Vietnam’s gross domestic product (GDP) by 1.3 percent, according to an official of the Ministry of Planning and Investment (MPI).
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Photo: VNA) 
