tk88 bet

EVFTA opens new markets for steel industry

The freshly-signed EU-Vietnam Free Trade Agreement (EVFTA) will help the Vietnamese steel sector expand export markets in Europe, industry insiders said.
EVFTA opens new markets for steel industry ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) –
The freshly-signed EU-VietnamFree Trade Agreement (EVFTA) will help the Vietnamese steel sector expandexport markets in Europe, industry insiders said.

According to the Vietnam Steel Association (VSA),as of April 30, 2019, Vietnam exported nearly 2.8 million tonnes of steel, up13.7 percent against the same period last year. 

Nguyen Van Sua, an expert in the steel industry,said export products of Vietnam and the EU are supplementary without directcompetition. 

However, Vietnam’s steel exporters have so far justfocused on some traditional markets like the Association of Southeast AsianNations (ASEAN) and the US while neglecting the EU.

For example, the ASEAN made up 61 percent ofVietnam’s export of steel sheets, the US 8.1 percent and Europe 7.1 percent, accordingto the VSA.

In the context of global competition andincreasing application of trade defence measures, the search for anddiversification of export markets is essential, Sua said, adding that with thesigned free trade agreements (FTAs), including the EVFTA, Vietnam couldoptimise tariff incentives to boost exports to the EU.

Deputy head of the ministry’s Multilateral TradePolicy Department Pham Quynh Mai said the provisions in FTAs work to Vietnam’sadvantage; however, if businesses do not know how to optimise these advantages,they will not be able to expand the markets and increase export value.

She suggested businesses study the FTAs inorder to apply the rules on origins in the most effective way, while continuingto modernize technology to meet technical standards.  

Nguyen Manh Tuan, Director General of Hoa PhatGroup, the largest steel maker in Vietnam, said to maintain its share in thedomestic market and expand markets in the EU, his company is taking a lot ofmeasures to improve product quality, reduce cost and enhance customer service.

A majority of Vietnamese steel firms areoperating at small scale, so their production, technology and financial capacityis limited.

To make inroads into the European market andavoid trade lawsuits, the steel sector needs to develop large-scale enterprisesand proactively study the export markets’ tariff regulations and trade defencemeasures.-VNA
VNA

See more

Participants in the congress held on June 19 to establish the Binh Duong Association of Supporting Industries (BASI). (Photo: VNA)

🌄 Binh Duong sets up supporting industry association

The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
Pharmaceutical production at a company in Vietnam. (Photo: VNA)

♒ Vietnam’s pharma sector heats up with major M&A deals

PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
Ngoc Linh ginseng is found within a narrow ecological zone around the peak of Ngoc Linh Mountain. (Photo: VNA)

Quang Nam positioned as medicinal plant hub

The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The official logo of resort airline Sun PhuQuoc Airways (Photo: Sun Group)

ཧ Official logo of resort airline Sun PhuQuoc Airways announced

Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
High-end apartment projects in Gamuda Gardens Urban Area in Hanoi are developed by Malaysian real estate group Gamuda Land. (Photo: VNA)

🍷 OECD Economic Surveys: Vietnam 2025 report released

The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Vietnamese lychees make sweet impression on UK consumers (Photo: VNA)

Vietnamese lychees win over UK consumers

The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|{tk88 bet}|