Hanoi (VNA) – Vietnamese firms have not ⛦beenable to fully tap incentives offered by free trade agreements (FTAs) thatVietnam has signed, experts said.
Vietnam has so far engaged in the signing and negotiationsof 16 FTAs, 10 of which have taken effects. Through the deals, the country hasentered into free trade partnerships with many economic powers and regions suchas Japan, the Republic of Korea, the ASEAN and the Eurasian Economic Union (EAEU). However, the growth of Vietnam’s exports to some partners, suchas the RoK, China, and ASEAN, has not caught up with the surge in imports fromthose countries, resulting in big deficit for Vietnam in trade with those partnerstotalling 68.7 billion USD in 2017. The ASEAN Trade in Goods Agreement (ATIGA) was the first FTAthat Vietnam has joined, under which up to 98 percent of tax lines will be abolished,the biggest number among effective FTAs. However, the trade balance betweenVietnam and ASEAN has been tilting in favour of other ASEAN members. Statistics of the General Department of Vietnam Customs showedno sudden surge in Vietnam’s exports to ASEAN countries since the formation ofthe ASEAN Economic Community in 2015. Instead, the flow of imports from ASEANmembers into Vietnam has increased strongly. As a result, Vietnam recorded a6.5 billion USD deficit in trade with ASEAN countries in 2017, and 5.4 billionUSD in the first 10 months of 2018. This is a matter of concern for Vietnam. The trade deficit with the RoK is also increasing threeyears after the Vietnam-RoK FTA took effect, reaching more than 24 billion USDin the January-October period of this year. Under the deal, the RoK commits to remove tariff forVietnamese goods within three to five years since the date the FTA entered intoforce, while Vietnam will do the same over the course of 10 years. Trade experts warn that it will be difficult for the countryto reduce deficit and restore trade balance with partners in East Asia andSoutheast Asia in the short term.-VNA
The business members of the European Chamber of Commerce in Vietnam (EuroCham) are optimistic about the Europe-Vietnam Free Trade Agreement (EVFTA)’s impacts on Vietnamese economy, with nearly 80 percent predicting a rosy future.
The European Parliament (EP)'s Committee on International Trade (INTA) on October 10 held an opening hearing on the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA) between Vietnam and the European Union (EU).
The European Parliament Committee on International Trade on October 10 held an opening hearing on the Free Trade Agreement and the Investment Protection Agreement between Vietnam and the EU.
The European Commission (EC) on October 17 submitted for approval a free trade agreement (FTA) with Vietnam, the first comprehensive open market deal between the EU and a developing Asian country.
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.
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.
Illustrative image (Photo: VNA) 
