Firms see both opportunities and challenges from FTAs
Gold opportunities as well as simultaneous tremendous challenges will be brought to Vietnamese businesses when free trade agreements (FTAs) come into effect.
Gold opportunities as well as simultaneous tremendous challenges will be brought to Vietnamese businesses when free trade agreements (FTAs), including the Trans-Pacific Partnership (TPP) agreement come into effect, heard a conference in the Mekong Delta city of Can Tho on July 29.
Both foreign and domestic economic experts said that Mekong Delta enterprises need to proactively assess the impacts of free trade deals to minimise risks while stepping up competitive capacities.
They also agreed that in addition to changes in enterprise management style, it is crucial for local businesses to renew production technologies, expand investment and make the best of e-commerce.
According to PhD Vo Hung Dung, Director of the Can Tho Branch of the Vietnam Chamber of Commerce and Industry (VCCI), the establishment of the ASEAN Economic Community at the end of this year as well as free trade deals will bring development opportunities for Mekong Delta enterprises.
Agriculture and aquaculture are Mekong Delta region strengths, creating favourable conditions for local enterprises to purchase raw materials at low costs while limiting the dependence on foreign material sources, Dung said.
He added that thanks to modern equipment, agriculture and aquaculture processing for export in the region has seen stellar achievements.
However, low competitive capacity of the region’s localities, limited capital for investment expansion and lack of high-skill workers remain barriers to regional economic development, experts said.
Economic activities are also hampered by inefficient credit policies in the Mekong Delta region, as they are unable to stimulate enterprise production. Inadequate business preparations for global integration is also seen as a challenge to boosting the economy.-VNA
The Trans-Pacific Partnership Agreement (TPP) is a driving force for development of Vietnam’s economy that requires the business community’s commitment, said an expert.
Free trade agreements (FTAs) between Vietnam and the Eurasian Economic Union, the Republic of Korea (RoK) and the European Union will be signed within 2015, affirmed Minister of Industry and Trade Vu Huy Hoang at a conference held in Hanoi on April 16.
Vietnamese businesses operating in Russia were updated on the Free Trade Agreement between Vietnam and the Eurasian Economic Union at a recent conference in Moscow.
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.
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.
A garment factory (Photo: VNA)
