Vietnamese enterprises have been diversely capitalising on the EU - Vietnam Free Trade Agreement (EVFTA) to boost shipments to the EU, according to the Ministry of Industry and Trade (MoIT).Mr Tran Thanh Hai, Deputy Director of the MoIT’s Foreign Trade Agency, said the EVFTA, taking effect on August 1, 2020, has created a substantial demand for exports, which have increased almost 15% to about USD 83 billion over the last two years.
Regarding management regulation, the Ministry of Planning and Investment (MPI) is drafting a Government resolution on measures to increase the efficiency of industrial parks (IP) and economic zones (EZ). In the draft resolution, the MPI suggested the building of a Law on IPs and EZs in 2022, and the issuance of a Prime Minister’s decision on the co-ordination mechanism among ministries, sectors and localities in managing IPs and EZs. Over the past 30 years, industrial parks (IP) and economic zones (EZ) across the country have attracted over US$100 billion of investment, and created jobs for more than 4 million workers, reported by the MPI.
Last week highlight
Vietnam’s GDP growth is forecast to expand 7.5% in 2022 and 6.7% in 2023, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery, reported by the World Bank.
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Let’s look at some other key financial and business headlines during the past week
- Vietnamese firms tap into giant trade deal: official
- Vietnam – new stop for semiconductor producers
- Resolution on IPs and EZs management drafted
- Việt Nam, Poland to expand trade and investment ties
- UKVFTA opens doors for UK businesses in Việt Nam
- Vietnam targets launch of modern digital finance platform by 2025
- Vietnam’s export to American market sees sharp rebound
- Banks raise interest rates to attract depositors
- HCM City office market recovers
- Auto sales rise 20% in July