Many manufacturing enterprises, especially in textiles and garments, footwear, and furniture, in Ho Chi Minh City, Binh Duong and Dong Nai are under great pressure because of the decrease in export orders. As a result, some businesses have had to close production lines, stop production and lay off workers.

Vietnamese companies must understand trends in the EU consumer market, which is undergoing a significant shift towards green and clean goods that meet international labour and environmental standards.

Competition heating up to corral chip technologies

China is expected to stay the largest export market for Vietnamese pangasius this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The EU-Viet Nam Free Trade Agreement (EVFTA), the first trade deal between the two sides, is likened to a significant "highway" directly connecting the Vietnamese economy with the 27 EU economies.

Flexible policies and a successful COVID-19 vaccination campaign have resulted in impressive progress in Vietnam’s economic prospects this year. But the road ahead is paved with challenges. Risks to growth in the future, largely related to external factors, have multiplied.

Vietnam’s export turnover to Germany enjoyed a year-on-year surge of 30.5% to 7.6 billion USD in the first 10 months of this year, according to the Ministry of Industry and Trade.

Thai farmers who’ve enjoyed a virtual monopoly in exporting fresh durian to China are worried about Vietnam entering the fray because the latter’s proximity to the importer generates several advantages.

ECTA will be greatly welcomed by our business communities: PM

Talks on the upgrade of ASEAN’s free trade area with China have been launched while negotiations on upgrading the one with Australia and New Zealand wrapped up recently.