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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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The National Assembly of Vietnam will ratify the recently-signed EU-Vietnam Free Trade Agreement (EVFTA) at its eighth session, scheduled from October 21 to November 20.

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Vietnamese Ambassador to the Czech Republic Ho Minh Tuan and President of the Czech Chamber of Commerce (CCC) Vladimír Dlouhý on July 17 discussed measures to boost bilateral cooperation in economics, trade and investment after the EU-Vietnam Free Trade Agreement (EVFTA) was signed on June 30.

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The seafood industry must envision a long-term strategy to make full use of new trade pacts and prepare for problems that might arise when they take effect, Truong Dinh Hoe, VASEP general secretary, said. 

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The successful negotiations and signing of the free trade agreements with big partners will heighten Vietnam’s image in the world stage, creating a new push for the economic growth in the long term, Minister of Industry and Trade Tran Tuan Anh has said, refering to the trade deals recently inked with the EU.

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Commitments to provide fair and equal treatment as well as protection for investors of both sides in the freshly signed EU-Vietnam Investment Protection Agreement (EVIPA) are expected to help Vietnam attract major groups.

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