return icon Vietnamnet.vn

Garment and footwear to be greatly beneficial from EVFTA

With tax barriers for less sensitive commodities being completely lifted within no later than three years since the adoption of the or EVFTA, Vietnam’s garment and footwear industries are predicted to be beneficial from the trade deal.

 

The Europe is home to major global value chains in garment and footwear industries. Not to mention, consumption power for garment and footwear of the market is huge.

The current garment export tariff to the EU is 9.6%. Yet once the deal takes effect, it will be 0 percent. If it is adopted this year, the export value of garment will be over 40 billion USD, 4 billion more than that of last year. Even if it is yet to take effect this year, the growth will still be 2.5 billion higher.

In order to get themselves equipped prior to the adoption of EVFTA, domestic firms have proactively invested in improving materials as the trade deal imposes strict regulations on origin traceability.-VNA

 

MORE NEWS

Some businesses are still paying high dividends

While many enterprises are facing difficulties, some plan to spend trillions of VND to pay dividends and buy treasury stocks.

Vietnamese box office smash to premier in Australia

According to Box Office Vietnam, The Girl from the Past has generated revenue of VND53 billion (US$2.2 million) after debuting in Vietnamese cinemas.

French Senate President arrives in Hanoi, beginning official visit to Vietnam

French Senate President Gérard Larcher arrived in Hanoi on December 8 morning, beginning an official visit to Vietnam at the invitation of National Assembly Chairman Vuong Dinh Hue.

Vietnamese film to compete at Golden Globe Awards

“Dem Toi Ruc Ro”, known as “The Brilliant Darkness” in English, a movie on domestic violence by American director Aaron Toronto, features in this year’s list of Golden Globe Awards’ nominees.

PM attends inauguration of Vietnam International Defence Expo 2022

Prime Minister Pham Minh Chinh and military officers pressed buttons inaugurating the Vietnam International Defence Expo 2022 at Gia Lam airbase in Hanoi on December 8.

PM’s trip to elevate Vietnam – EU to new height: diplomat

Prime Minister Pham Minh Chinh’s trip to attend an ASEAN-EU Commemorative Summit and visit Luxembourg, the Netherlands, and Belgium from December 9 to 15 is expected to promote and lift the Vietnam-EU cooperation to a new height.

Money borrowers face black credit traps on online lending apps

A lot of money borrowers have been recently cheated on online lending applications which seem to ask for simple procedures at first but then claim cut-throat interest rates.

Young scientist becomes first Vietnamese awarded by UK Royal Aeronautical Society

With the Young Persons’ Achievement Award, Dr. Nguyen Huyen Duc has become the first Vietnamese scientist to receive the prize from the UK’s Royal Aeronautical Society (RAeS).

Revelations of an e-cigarette seller

After exchanging text messages via social media, VietNamNet’s reporter, who acted as an e-cigarette buyer, decided to meet the seller and discovered many things that made him shiver.

Vietnam’s fruits enter choosy markets

In the domestic market, a red-flesh pomelo is priced at VND23,000-45,000/kg. In the US, it is VND535,000 per kilogram.

Vietnam imports nearly US$190 million of pork in Jan-Oct

Vietnam had imported 89,000 tons of pork products worth US$189.02 million in the year to October, contracting over 34% in volume and nearly 40% in value year-on-year, according to the Foreign Trade Agency under the Ministry of Industry and Trade.

Over VND9.6 trillion proposed for upgrading HCMC’s polluted canal

The HCMC People’s Committee has proposed investing over VND9.6 trillion in the Xuyen Tam Canal upgrade project at a meeting this morning, December 7, according to the local media.

Agencies write laws to help SMEs but lack information about the businesses

Some content needs to be more clearly quantified to better assess the effectiveness of these activities and the feasibility of regulations on SMEs.

‘Glorious ashes’ spark little hope for Vietnam’s cinema

‘Glorious ashes’ hit the screen when the audience became too discouraged about the  appearance of local movies with low revenue.

Foreign investors arrive, industrial real estate benefits

Industrial Zone (IZ) developers are pocketing big money as Vietnam is welcoming new foreign investors.
back_to_top