EVFTA shows Vietnam’s policy of supporting free trade: WB
The signing of the European Union-Vietnam Free Trade Agreement (EVFTA) was a strong and positive sign in demonstrating Vietnam’s policy of supporting free trade, said Ousmane Dione, World Bank Country Director for Vietnam.
The EU is currently one of the biggest markets of Vietnam's aquatic products (Photo: VNA)
Hanoi (VNA) – The signing of the European Union-Vietnam Free Trade Agreement (EVFTA)was a strong and positive sign in demonstrating Vietnam’s policy of supportingfree trade, said Ousmane Dione, World Bank Country Director for Vietnam.
The inkingof the deal was extremely important, especially at the moment when more andmore people in the world are looking at protectionism, Dione told the VietnamNews Agency (VNA).
"Everyagreement comes with both opportunities and challenges and the question here ishow Vietnam can grasp these opportunities," Dione said, emphasising thatthe agreement can help Vietnam diversify trade partners and Vietnamese productscan reach different markets, generating revenue and bringing more wealth to Vietnam.
However,Dione said it would also come with a number of standards which Vietnameseproducts have to meet and this would provide a golden opportunity for Vietnamand enterprises to take bold actions to mordernise and improve nationalstandards to be competitive.
Atpresent, Vietnam has an abundant and “golden-age” labour force who haveknowledge and are adaptable but they are also ageing very quickly. The EVFTA couldbe a catalyst for Vietnam to accelerate further to build human capacity andmodernise different production systems to be able to compete and become anexport leader in some specific sectors, he said.
To dothat, the Vietnamese Government should have reforms targeting small- andmedium-sized enterprises (SMEs) and build the link between specific areas suchas foreign invested companies and domestic private enterprises in order tolevel them up, Dione suggested.
TheGovernment of Vietnam should give more incentives to help SMEs acquire knowledge,adopt new technology and get support from FDI enterprises, he added.-VNA
The EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) were officially signed in Hanoi on June 30 afternoon, in the witness of Prime Minister Nguyen Xuan Phuc, Vietnamese National Assembly and Government leaders, and leaders of the European Union (EU).
The European Union-Vietnam Free Trade Agreement (EVFTA), once taking effect, will help increase the competitiveness of Vietnam as well local enterprises and commodities, said Pham Tat Thang, a senior researcher at the Ministry of Industry and Trade’s Trade Research Institute.
The government will create favourable conditions for businesses to access opportunities created by the EU-Vietnam FTA, Minister of Industry and Trade Tran Tuan Anh said at a press conference after the signing of the EVFTA.
The conclusion of the EU – Vietnam Free Trade Agreement (EVFTA) marked the end of an arduous journey with three years of negotiations and another three years for preparation to reach the signing, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.
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.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
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.
The EU is currently one of the biggest markets of Vietnam's aquatic products (Photo: VNA) 
