As reported by the statistics of the General Department of Việt Nam Customs, there was a tremendous growth of imports of materials for textiles, leather and footwear from Canada of 179.8 % to hit US$11.8 million in the first four months of 2018.
Foreign Investment Agency (FIA) statistics revealed that the Foreign Direct investment (FDI) in Vietnam disbursements rose 10 per cent year-on-year to US$6.75 billion in the first five months of 2018.
From January to May, FDI pledged in Vietnam totaled about $7.15 billion, an annual reduction of 31 per cent. Statistics also showed foreign investors had injected their capital in 17 industries and fields during the same period. The manufacturing and processing sectors attracted the lion’s share of FDI with $5.18 billion, accounting for 52 per cent of total investments.
A delegation of the European Commission’s (EC) Directorate-General for Maritime Affairs and Fisheries, which will visit Việt Nam from May 16-23 to inspect the country’s implementation of the EC’s nine recommendations related to the fight against illegal, unreported and unregulated (IUU) fishing
Vietnamese enterprises can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market while 2018 brings newer and bigger free trade agreements (FTAs). As from MoIT information, from 2018 onward, 85 per cent of Vietnamese exports will be subject to significantly lowered tariff levels of zero to 5 per cent.
The Vietnamese Government issued 10 Decrees on the special preferential import tariff schedules in order to implement free trade agreements coming into force from January 01, 2018. Specifically:
According to observers, Vietnam has been doing a better job in gradually curbing unreported and unregulated fishing, one of the key factors affecting the adoption of the Vietnam-EU Free Trade Agreement.
The 3rd international complete plastics exhibition (Complast Vietnam 2018) was opened on Wednesday January 10 in HCM City. Hundreds of new plastic products and the latest equipment and machines are on display at the exhibition (Complast Vietnam 2018), which was opened by Smart Expos and Fair (India) Pvt. Ltd (SEFIPL) organised the fair in co-operation with Việt Nam Plastics Association (VPA) at the Saigon Exhibition & Convention Centre (SECC) in District 7, Hochiminh City.
The Department of Asia-Africa Markets under the Ministry of Industry and Trade has encouraged local businesses to promote trade with their Middle East counterparts besides traditional markets like the United States, European Union and Japan.