Firms advised to better product quality to boost exports to EU
Vietnamese enterprises should improve the quality of their products and meet all the requirements of the European Union to enjoy tariff-related advantages and increase exports to the region, once the recently-signed EU-Vietnam Free Trade Agreement (EVFTA) becomes effective.
HCM City (VNA) – Vietnamese enterprises should improve the quality oftheir products and meet all the requirements of the European Union to enjoy tariff-relatedadvantages and increase exports to the region, once the recently-signedEU-Vietnam Free Trade Agreement (EVFTA) becomes effective.
The advice was made byMiriam Garcia Ferrer, Head of the Trade and Economic Section of the Delegationof the European Union to Vietnam, at a Vietnam-EU Trade Forum on the EVFTA,which was jointly held by the Ministry of Industry and Trade and the delegationin Ho Chi Minh City on July 30.
She suggestedbusinesses obtain a thorough grasp of market information, rules of origin andregulations of the EU to carry out long-term strategies so as to gain a firmfoothold in the market.
Jean-Jacques Bouflet,Vice Chairman of the European Chamber of Commerce in Vietnam (Eurocham), saidthat with the EVFTA and the EU-Vietnam Investment Protection Agreement (EVIPA),investment flows from the EU will shift to Vietnam, with the focus on cleanenergy, agriculture and food production.
He cited a survey ofthe German Chamber of Commerce in Vietnam as saying that 55 percent of Germanenterprises operating in the Southeast Asian nation are planning to expandtheir operation.
The official stressedthat European enterprises want to boost the building of production chains withlocal ones, thus bringing about more cooperation opportunities for local onesto participate in value chains.
To bring into fullplay these opportunities, Vietnamese enterprises should actively renew theirproduction and management methods to reach standards and development trends ofEuropean partners, he suggested.
Speaking at the forum,Deputy Minister of Industry and Trade Hoang Quoc Vuong said that two-way tradeincreased by 13folds from 4.1 billion USD in 2000 to 55.8 billion USD in 2018,of which 41.9 billion USD came from Vietnam’s exports.
As of late June 2019,27 European countries and territories invested in Vietnam with 3,205 projectstotaling 53.1 billion USD.-VNA
The successful negotiations and signing of the free trade agreements with big partners will heighten Vietnam’s image in the world stage, creating a new push for the economic growth in the long term, Minister of Industry and Trade Tran Tuan Anh has said, refering to the trade deals recently inked with the EU.
Vietnamese businesses are having high hopes for bigger market shares in the European Union (EU) thanks to the bilateral free trade agreement (EVFTA) signed recently.
Members of the European Union (EU) have expressed their belief in the positive impact that the bloc’s free trade agreement with Vietnam (EVFTA) will have on bilateral trade relations.
Seafood shares advanced in the first half of the year as the freshly signed EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have positive impacts on the business results of seafood exporters, according to insiders.
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.
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.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
Overview of Vietnam-EU Trade Forum (Source: VNA) 
