Businesses explore cooperation opportunities under EVFTA
Nearly 150 businesses in Hanoi, Binh Phuoc, Ho Chi Minh City and Europe were brought together at an online forum on July 29 to get the latest updates on cooperation opportunities to be presented by the EU-Vietnam Free Trade Agreement (EVFTA).
Hanoi (VNA) – Nearly 150 businesses inHanoi, Binh Phuoc, Ho Chi Minh City and Europe were brought together at anonline forum on July 29 to get the latest updates on cooperation opportunitiesto be presented by the EU-Vietnam Free Trade Agreement (EVFTA).
The event was jointly held by Radio The Voice ofVietnam, the Union of Vietnamese Business Associations in Europe, and the StateCommittee on Overseas Vietnamese Affairs.
Sharing difficulties when exporting goods to theEuropean market, Chairwoman of the Binh Phuoc People’s Committee Tran Tue Hiensaid businesses are bearing the brunt of unfavourable weather patterns andabnormal developments of the international market.
EU importers’ policies have regularly changedwith stricter standards about food safety and traceability, especially foragricultural and forestry products, she added.
Chairman of the association of Vietnamesebusinesses in Poland Hoang Xuan Binh said Vietnam mainly exports raw materialsand semi-processed products to the EU. However, Vietnam has experience inimplementing the Eurasian Economic Union (EAEU) Free Trade Agreement, whilee-commerce has become popular in Vietnam and the EU.
Tens of thousands of Vietnamese businesses areactive in Europe, he said, adding that they can serve as a bridge to connectthe two sides.
Most of the panels held that the EVFTA willbring about numerous opportunities for Vietnamese and European enterprises. However,opportunities will go with challenges, so the two sides’ businesses shouldprepare plans to capitalise on the deal’s benefits, according to insiders./.
Vietnamese goods are likely to face intense competition once the EU-Vietnam Free Trade Agreement (EVFTA) takes effect in early August, economists have forecast.
The Vietnam Trade Promotion Agency (Vietrade) is able to coordinate with and create the necessary conditions for Vietnamese and Dutch companies to enhance business links, Vietrade Deputy Director Le Hoang Tai has said.
Domestic banks are expected to face increasing competition, especially as European banks will be able to access the Vietnamese market when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.
The agriculture sector needs to address challenges related to branding, geographical indications, traceability, and intellectual property to take full advantage of the free trade agreement Vietnam has signed with the EU, speakers said at a meeting on July 24.
Reforming administrative procedures and improving infrastructure quality are decisive factors in capitalising on the EU-Vietnam Free Trade Agreement (EVFTA), heard a dialogue between officials of Ho Chi Minh City and the European Chamber of Commerce in Vietnam (EuroCham) on July 28.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
At the online forum (Photo: VNA) 
