Uvfta

What have been the biggest impacts of the UK-Vietnam Free Trade Agreement (UVFTA) on cooperation between the two countries over the past year or so? Nguyen Canh Cuong, trade counsellor at Vietnam’s Embassy to the United Kingdom The UVFTA has become very big leverage for both nations’ trade cooperation as it has created strong spillover effects not only in trade but also in investment inflows into Vietnam from the UK and vice versa. Two-way trade in 2021 bounced back to $6.6 billion after a remarkable reduction in 2020 and 2019. Many Vietnamese exports saw high growth, such as agricultural products (67 per cent) and pepper (49 per cent). Meanwhile, Vietnam’s imports from the UK increased positively by 23.6 per cent on-year in 2021. Moreover, according to Vietnam’s Ministry of Planning and Investment, last year saw 48 direct investment projects from the UK into Vietnam, newly registered at over $353 million – up 157 per cent on-year, creating an accumulative … [Read more...] about Upbeat projections for UK-Vietnam trade outlook

Education is just one of the sectors in which British groups are seeking opportunities in Vietnam This year, the Vietnamese Embassy to the UK is planning to meet with many localities, companies, organisations, and authorised agencies in order to seek new prospects to further cement their ties, with a focus laid on trade and investment. “Many British companies are looking for opportunities in Vietnam in finance and banking, agriculture, fintech, renewable energy, digital transformation, commerce, tourism, and education and training,” a representative from the embassy told VIR. “The potential for Vietnam to attract more investment from the UK is very big, and many British investors are planning to come to Vietnam.” According to a report by the Ministry of Industry and Trade’s (MoIT) European-American Market Department, in order to further facilitate bilateral ties and more investments into their respective territories, both nations are looking to hold the 12th Joint Economic and … [Read more...] about Bumper Brit partnerships being boosted