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Vietnam needs to up textile localization to extract trade pact gains, but authorities are rejecting proposed factories on environmental grounds.

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Domestic businesses, especially small and medium-sized enterprises (SMEs) need further support from state management agencies to better compete in the context of deep global integration, said Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.

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For Tran Nhu Tung, Vietnam’s newly signed free trade deal with the European Union presents both huge opportunity, and a logistical headache.

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On June 30, after almost seven years of discussions and negotiation, pen was finally put to paper on the European Union-Vietnam Free Trade Agreement – or the EVFTA, as it is commonly known.

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The European Union Vietnam Free Trade Agreement (EVFTA) was signed on June 30 in Hanoi paving the way for its conclusion and increased trade with the EU and Vietnam.

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Foreign investors have been encouraged to take advantage of the double benefits Vietnam is offering through its commitments in the many trade pacts signed with other countries.

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Members of the European Union (EU) have expressed their belief in the positive impact that the bloc’s free trade agreement with Vietnam (EVFTA) will have on bilateral trade relations.

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Opportunities for Australian firms to invest in Vietnam have never been better than now when the Southeast Asian economy is growing rapidly, said participants at a Vietnam-Australia business dialogue held in Sydney on July 22.

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Vietnamese businesses are having high hopes for bigger market shares in the European Union (EU) thanks to the bilateral free trade agreement (EVFTA) signed recently.

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Vietnamese enterprises need more opportunities to get technology transfers from foreign investment activities and join ventures with foreign partners for sustainable development of the domestic industry.

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