Vinh Phuc assists enterprises in optimising EVFTA opportunities
The authorities of the northern province of Vinh Phuc are implementing a series of measures to help local enterprises fully tap the opportunities brought about by the EU-Vietnam Free Trade Agreement (EVFTA), which took effect in August 1.
Making sport shoes for export at the Phuc Yen shoe joint stock company (Photo: baovinhphuc.com)
Vinh Phuc (VNA) – The authorities of thenorthern province of Vinh Phuc are implementing a series of measures to helplocal enterprises fully tap the opportunities brought about by the EU-VietnamFree Trade Agreement (EVFTA), which took effect in August 1.
Vinh Phuc is home to about 200 companies that involve ininternational trade. This year, the province’s import and export values areestimated to hit 3.14 and 2.9 billion USD, respectively. The EVFTA, which removes84 percent of tariff lines, is likely to further bolster the growth of localfirms.
According to the provincial Department of Industry and Trade,the EU is a demanding market which sets high standards for imported goods andservices. As such, local exporters ought to have human resources training plansto improve their staff’s language and professional capacity in order to effectivelystudy demand from the market.
Currently, the department is working with the Vietnam TradePromotion Agency to support the training of e-commerce skills; designprogrammes to help exporters enhance their competitiveness; and facilitatefirms’ participation in supply chains.
The provincial People’s Committee has paid attention to educationalactivities to raise awareness on the EVFTA for farmers, management agencies,cooperatives, and businesses, particularly those who are likely to be impactedby the deal.
Meanwhile, other provincial departments and sectors as wellas district-level authorities have been tasked to examine locally issued legaldocuments during the implementation of the agreement with a view to makingprompt changes to make them compatible to the pact./.
Authorities in the northern province of Vinh Phuc have rolled out a host of incentives to attract investment and make tourism a spearhead economic sector, with major and prestigious groups being sought to invest in areas ripe with potential but facing difficulties in changing their economic structure.
The northern province of Vinh Phuc is aiming for an average nearly 11 percent growth per year of the commercial and service sector in the 2021-2025 period while developing a modern network of commercial and service facilities.
Vinh Phuc has reaped success in attracting foreign direct investment (FDI) for many years, and the source of FDI capital has become a driver of economic growth in the province.
All communes in the northern province of Vinh Phuc have met new-style rural area standards, and two have fulfilled advanced standards for new-style rural areas, according to the provincial People’s Committee.
The northern province of Vinh Phuc has presented an investment certificate to TOTO Vietnam during Japanese Prime Minister Suga Yoshihide’s visit to Vietnam.
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.
Making sport shoes for export at the Phuc Yen shoe joint stock company (Photo: baovinhphuc.com) 
