Eu vietnam investment treaty

Hanoi (VNA) – The ninth working day of the 14th National Assembly (NA)’s ninth session on June 8 was marked with the ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (EVIPA), along with the country’s membership of the International Labour Organisation (ILO)’s Convention 105. This was also the first day of the ninth session lawmakers met in person at the NA’s building in Hanoi. The sitting in the morning was also attended by the EU Ambassador to Vietnam and representatives of 18 EU countries’ embassies in Hanoi, namely France, Germany, Italy, Belgium, the Netherlands, Bulgaria, Romania, Ireland, Denmark, Greece, Spain, Austria, Sweden, Finland, the Czech Republic, Hungary, Poland and Slovakia. After NA Chairwoman Nguyen Thi Kim Ngan reported on the outcomes of the ninth session’s online discussion from May 20 to 28, legislators voted on the resolutions ratifying the EVFTA, the EVIPA and the … [Read more...] about Ratification of EU-Vietnam deals, ILO convention makes NA’s highlight

Minister of Planning and Investment Nguyen Chi Dung, on behalf of the PM, submitted a draft resolution on recognizing and allowing the enforcement of rulings issued by dispute settlement agencies under the EVIPA. A verification report on this draft was later presented by Chairwoman of the NA’s Committee for Judicial Affairs Le Thi Nga. … [Read more...] about Ratification of EU-Vietnam deals, ILO convention make NA’s highlight

Hanoi (VNA) - Experts have suggested Vietnamese enterprises improve product quality standards to overcome barriers imposed by the fastidious yet promising EU market, thus optimising the advantages to be generated from the EU-Vietnam Free Trade Agreement (EVFTA). A resolution ratifying the EVFTA and the EU-Vietnam Investment Protection Agreement sailed through the National Assembly at its ongoing ninth session in Hanoi on June 8, with more than 90 percent of delegates voting in approval. According to Luong Hoang Thai, Head of the Ministry of Industry and Trade (MoIT)’s Multilateral Trade Policy Department, Vietnam makes up only 2 percent of imports by the EU - the world’s second largest importer - due to the competition with other economies. Vietnam has been enjoying trade preferences offered unilaterally by the EU under the General Scheme of Preferences (GSP), but only 42 percent of tariff lines are zero. With the EU’s strong commitment to market opening and … [Read more...] about Local enterprises must raise product quality to surmount EU barriers: experts

Hanoi (VNS/VNA) - Vietnam’s new immigration law includes a new type of visa for foreigners who come to Vietnam to conduct activities as part of international agreements Vietnam has signed. The change is expected to facilitate the implementation of new agreements that Vietnam has signed such as the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), said Colonel Tran Van Du, deputy head of the Immigration Department under Ministry of Public Security. The department last week held a session to explain immigration laws to diplomatic missions and non-governmental organisations (NGOs) in Vietnam. Vietnam will issue visas with validity from six to 12 months for foreigners who enter to promote services and establish commercial presence according to international agreements. The amendment to the law on entry, exit, transit and residence of foreigners in Vietnam came into force this month. “Strategic foreign investors who … [Read more...] about New immigration law looks to attract investment

Hanoi (VNA) – The US website Seeking Alpha has described Vietnam as the preferred destination of foreign capital in recent years with annual economic growth of 7 percent, twice as much as the world average. While agriculture continues to be a dominant source of employment, much of Vietnam’s economic growth in the recent past has been driven by the services and industrial segments, according to the website. One of the reasons that make Vietnam more attractive than other countries is its labour costs, which are half that of China and also considerably lower than its other manufacturing competitor – Mexico. Seeking Alpha said Vietnam’s dominance lies in the electronics manufacturing (36 percent) followed by footwear. Some notable US names that have recently made inroads into Vietnam include Sourcify, Cooper Tyres, and Key Tronic. The website cited a survey conducted by the US Chamber of Commerce which showed the rate of respondents selecting Vietnam as the … [Read more...] about Vietnam – preferred destination of foreign capital: US website