Chilean Vice Minister of Trade Rodrigo Yáñez has said his Vietnam visit aims to further boost the Vietnam – Chile ties and expand cooperation within the framework of the bilateral free trade agreement (FTA) signed in 2011, especially in investment and services.
The recently signed US-China trade deal, an effort to calm trade tensions between the world’s two largest economies, will force Vietnamese businesses to grow in order to meet the challenges as well as the opportunities it brings, said economic experts.
Vietnam had a trade deficit of more than 1 billion USD with Australia last year, one year after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect.
Vietnam has to spare no effort to achieve economic growth of 6.8 percent and keep inflation rate of below 4 percent in 2020 amid global political uncertainties, said the Vietnam Institute for Economic and Policy Research (VERP) at a workshop in Hanoi on January 16.
Vietnam holds great potential in food value chain development with a large consumption market and high export values, especially as the country is a member of various free trade agreements (FTAs), heard a seminar held in Hanoi on January 14.
A cultural exchange night between Vietnam and Japan took place in the central coastal city of Da Nang on January 12 with the attendance of Prime Minister Nguyen Xuan Phuc and Secretary General of the Liberal Democratic Party (LDP) of Japan Nikai Toshihiro.
The Vietnamese Embassy in Japan held a meeting for overseas Vietnamese on January 10 to celebrate the traditional Lunar New Year (Tet), the biggest holiday in Vietnam.
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Japanese FM Motegi Toshimitsu expressed their delight at the impressive development of the Vietnam – Japan extensive strategic partnership over the past years, during their talks in Hanoi on January 6.
Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on January 6 for Japanese Minister for Foreign Affairs Motegi Toshimitsu, who is on an official visit to Vietnam.
International free trade agreements such as the CPTPP and the EU-Vietnam Free Trade Agreement have opened up unprecedented opportunities for Vietnamese steelmakers with the industry forecast to see robust growth.
Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.
Vietnam’s wood exports this year are set to reach up to 11.5 billion USD, exceeding the industry’s own target of 10.5 billion USD, a 20 percent increase compared to last year.
International media outlets have highlighted Vietnam’s thriving economy which is among the fastest-growing in Southeast Asia in 2019 amid the global economic slowdown.
Prime Minister Nguyen Xuan Phuc asked the industry and trade sector to strive for an export turnover of 300 billion USD next year during a conference held in Hanoi on December 27.
The Asian Development Bank has revised up its forecast of Vietnam’s GDP growth for 2019 and 20202 from 6.8 percent to 6.9 percent and 6.7 percent to 6.8 percent, respectively, in contrary with projections for Asia.
Forestry sector maintained a high growth of over 5 percent this year, with forestry product export reaching 11.3 billion USD, up nearly 20 percent from 2018.
The signing and implementation of free trade agreements has increased Vietnam's tax collection this year, said Luu Manh Tuong, director of Import-Export Tax Department under Vietnam Customs.
The leather-footwear industry of Vietnam has established its foothold in the global market, but challenges are still lying ahead, requiring it to work harder to grasp big chances created by new-generation free trade agreements (FTAs).
Reduced revenue from cutting taxes on imported goods in accordance with various free trade agreements (FTA) Vietnam had signed was unlikely to affect State revenue, said the finance ministry in a conference held on December 12 in Hanoi.
Politics
