Vietnam is recovering strongly with the economy is shifting from survival mode to growth mode. However, if Vietnam is to reach its full potential in the coming years, it will have to effectively navigate a number of global mega-trends that will shape its future, according to CEO of HSBC Vietnam Tim Evans.
The business community will be a main driver in economic transformation towards more green and sustainable one.
Vietnam’s economy will experience the gradual rebound in the next six months before booming again in the second half of 2022.
The real estate consultancy anticipates elevated investment activity, sustainability and technology to be the next focus.
Vu Tien Loc affirmed that over the past years, the reform of Vietnam business environment and the implementation of free trade agreements have created breakthroughs but the spillover of foreign direct investment (FDI) is still very low.
To ensure smooth and efficient operation of the EU-Vietnam Free Trade Agreement (EVFTA) after the two sides finished the legal review process, both are actively resolving the final stages of this agreement which is expected to be signed by the end of this year.
In January 2019, Vietnamese exporters to the EU will have to self-verify the origin of their products in order to be qualified for Generalized System of Preferences (GSP), tariff preferences for developing countries.
The EU - Vietnam Free Trade Agreement (EVFTA) endows Vietnam with comparative advantages no other country in the region excepting Singapore has.
According to international organizations, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) would bring huge economic benefits to Vietnam.
The reduction of duty on many items imported from Korea will facilitate Korea’s investment in Vietnam, according to Korea Trade-Investment Promotion Agency (KOTRA).