With its relatively high growth rate and improved income per capita,Vietnam has been offering both opportunities and challenges forArgentine enterprises, according to Argentinian economic expert JulioSevares.
In a story published in Argentina’sClarin newspaper on May 27, Julio Savares hailed Vietnam’s economicachievements in recent years and highlighted cooperation opportunitiesin trade and investment.
Julio Sevares, aprofessor at the University of Buenos Aires (UBA), also indicated anumber of benefits and challenges that Argentinian enterprises face whenoperating or investing in Vietnam.
From itshistoric military victory, Vietnam has gained successes in the economy,and as a result Argentina has been benefitting from the Southeast Asiannation’s development by exporting goods and diversifying its productsand investment portfolio, according to the story.
Vietnam’s economy grew by 5.8 percent last year and is expected torise by 6 percent this year. Per capita income has increased fivefoldsince the economic reform process began 30 years ago.
The Vietnamese Government has issued a number of policies to attractprivate investment and has introduced reforms of its tax, customs andinvestment regulations. Furthermore, Vietnam is promoting thedevelopment of products of highly added value.
In 2002-2014, the trade volume between Vietnam and Argentina increased 20-fold to 1.706 billion USD in total.
In addition to animal food, tanned leather, animal and plant oil,wheat and cotton, Vietnam also has a high demand for Argentinian meat,fruit, wine, milk and pharmaceutical products.
According to Julio Savares, Argentinian businesses operating in Vietnamhave to navigate cultural differences and face growing competition fromlocal products.
The Free Trade Agreements (FTAs)between Vietnam and other Asian countries with Chile, Australia and NewZealand pose another challenge to Argentinian businesses, Julio Sevaressaid.
Vietnam has been a member of the WorldTrade Organisation since 2007 and a member of the Association ofSoutheast Asian Nations since 1995. It signed an FTA with the Republicof Korea and is currently finalising the procedures to sign FTAs withthe Eurasia Economic Union, the European Union and the Trans-PacificPartnership, which features the United States and Japan.
Vietnam offer a great opportunity for Argentina, but this alsorequires Argentinian private and State-owned enterprises to develop andapply a long-term strategy, he said.-VNA
In a story published in Argentina’sClarin newspaper on May 27, Julio Savares hailed Vietnam’s economicachievements in recent years and highlighted cooperation opportunitiesin trade and investment.
Julio Sevares, aprofessor at the University of Buenos Aires (UBA), also indicated anumber of benefits and challenges that Argentinian enterprises face whenoperating or investing in Vietnam.
From itshistoric military victory, Vietnam has gained successes in the economy,and as a result Argentina has been benefitting from the Southeast Asiannation’s development by exporting goods and diversifying its productsand investment portfolio, according to the story.
Vietnam’s economy grew by 5.8 percent last year and is expected torise by 6 percent this year. Per capita income has increased fivefoldsince the economic reform process began 30 years ago.
The Vietnamese Government has issued a number of policies to attractprivate investment and has introduced reforms of its tax, customs andinvestment regulations. Furthermore, Vietnam is promoting thedevelopment of products of highly added value.
In 2002-2014, the trade volume between Vietnam and Argentina increased 20-fold to 1.706 billion USD in total.
In addition to animal food, tanned leather, animal and plant oil,wheat and cotton, Vietnam also has a high demand for Argentinian meat,fruit, wine, milk and pharmaceutical products.
According to Julio Savares, Argentinian businesses operating in Vietnamhave to navigate cultural differences and face growing competition fromlocal products.
The Free Trade Agreements (FTAs)between Vietnam and other Asian countries with Chile, Australia and NewZealand pose another challenge to Argentinian businesses, Julio Sevaressaid.
Vietnam has been a member of the WorldTrade Organisation since 2007 and a member of the Association ofSoutheast Asian Nations since 1995. It signed an FTA with the Republicof Korea and is currently finalising the procedures to sign FTAs withthe Eurasia Economic Union, the European Union and the Trans-PacificPartnership, which features the United States and Japan.
Vietnam offer a great opportunity for Argentina, but this alsorequires Argentinian private and State-owned enterprises to develop andapply a long-term strategy, he said.-VNA
