return icon Vietnamnet.vn

Trade can’t be done online, Vietnam needs to reopen

Foreign investors want to come to Vietnam to do business but they need to know about contacts and where they can seek input materials, according to Vietnamese Ambassadors to the UK and Austria.

{keywords}

Vietnamese Ambassador to Austria Nguyen Trung Kien

 

They spoke to the press on the sidelines of a recent seminar between chief representatives of Vietnamese agencies overseas and businesses on enhancing diplomacy for economic development held on December 10, 2021.

“When we discussed this with Austrian businesses, we heard a question from them about when and how Vietnam would reopen,” said Vietnamese Ambassador to Austria Nguyen Trung Kien.

“Trade cannot be done online. You can exchange information about products online, but you can’t negotiate online. Many Austrian businesses want to come to Vietnam, but they need to know about the requirements on quarantine and the process of visiting workshops, input material supplies and necessary contacts,” Kien explained.

“It’s obvious that if foreign businesspeople can’t enter Vietnam, they won’t be able to cooperate with Vietnamese businesses. And overseas Vietnamese really want to return to homeland,” he continued.

Agreeing with Kien, Vietnamese Ambassador to the UK Nguyen Hoang Long said that reopening international air routes while ensuring safety is a must to recover the economy.

“Reopening air routes is the wish of embassies, while ensuring safety is the requirement by the Government. I think appropriate agencies will consider the pros and cons. However, I have to say that when enhancing cooperation for economic development, businesses have to increase exchanges, and investors have to travel and meet each other face to face for negotiations,” he said.

Flexible lockdown

According to Kien, Austria is experiencing a lockdown but it is flexible. First, workers are not locked down. Second, schools are not closed. The parents who are insecure about in-person study can refuse to bring their children to school. The students stay at home and receive packages of home exercises every day and give answers online. Around 70 percent of students are going to school during the lockdown.

Third, the Government believes that physical exercise and sports are essential for people to protect their health. Outdoor sports take place as usual, while indoors sports are organized if anti-pandemic requirements can be satisfied.

 

{keywords}

Vietnamese Ambassador to the UK Nguyen Hoang Long

 

In order to fight the pandemic, Austria has a culture of abiding by the law, respecting the rules and keeping a calm attitude towards the pandemic. The country is expected to reopen on December 12, 2021. They take the pandemic seriously but conform to the law and consider everything thoroughly in a scientific way. Meanwhile, the society continues to evolve.

Kien noted that Vietnam is facing changes as the number of new infections is increasing and the healthcare sector is straining against the pandemic.

Whether Vietnam should reopen is a difficult question. Based on Austria’s experience, Vietnam needs to live with the pandemic and reopen. Vietnam relies on foreign trade, foreign investment and import/export, so it cannot continue closing the doors. It needs to think about how to reopen to both ensure safety and develop foreign trade.

Vietnam’s businesses have capability, but lack methodical preparation

According to Long, the UK is promoting trade cooperation with many other markets after exiting the EU, especially with emerging markets, so as to help British products be more competitive.

“This brings great opportunities to partners like Vietnam. When the UK enhances cooperation with new markets, they will also open their market to our products,” Long said.

However, he warned that in order to boost more exports to the UK, Vietnamese business need to make high-quality products, because the UK is a choosy market.

He said that Vietnam’s businesses are capable of making high-quality products, but they are not sufficiently prepared to enter large markets. He believes that agriculture is the most promising field for Vietnam when penetrating the UK market. Vietnam should target the high-end market segment, providing high-quality agricultural products.

“The Embassy in the UK can help businesses enter the British market as we have specialists in the country who can give advice. We can also help businesses connect to partners through trade fairs, exhibitions and product promotion programs,” he said.

Meanwhile, Kien believes that to cooperate with European countries, Vietnam’s businesses should focus on green trends, sustainable development and environmental protection.

Kien said many Vietnam businesses have successfully grabbed opportunities from the EVFTA (EU-Vietnam Free Trade Agreement) to export their products to Europe. The Vietnamese Embassy in Austria is always ready to help businesses boost exports, especially farm produce such as coffee, rice and coconuts. With EVFTA, Vietnam’s farm produce has great advantages.

Many other countries in the region also have strong agricultural production capacity, but Vietnam has advantages as it has an FTA with the EU. Vietnamese ambassadors in Europe are making every effort to help bring Vietnam’s farm produce to this high-potential market. 

Thai An

Ambassador: Vietnam-Russia ties loyal, close

Ambassador: Vietnam-Russia ties loyal, close

Vietnamese Ambassador to Russia Dang Minh Khoi has highlighted Vietnam – Russia ties as well as the significance of the upcoming Russia visit by President Nguyen Xuan Phuc from November 29 – December 2.

The success of vaccine diplomacy

The success of vaccine diplomacy

In the relentless efforts to control the epidemic, vaccine diplomacy has become a key factor. 

MORE NEWS

Vietnam among world's worst performing stock markets in first half

In the first half of 2022, both market's benchmark index and liquidity plunged sharply, with the VN-Index posting a dip of over 20 per cent, making it one of the world's worst-performing stock markets.

Vietnam, Thailand to soon resume commercial flights

Vietnam and Thailand should soon restore commercial flights and open new routes to facilitate tourism and trade cooperation between the two countries.

VIETNAM BUSINESS NEWS JULY 4

Vietsovpetro launches two support sets of Dragon oilfield

New milestone in Vietnam’s relations with Hungary, UK

The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership.

Vietnam remains among major global production facilities

The nation continues to be "named" in the list of major global production facilities, with six-month export turnover reaching US$185.94 billion, marking a year-on-year rise of 17.3% and a trade surplus of more than US$ 700 million.

Steering committee established to boost economic recovery effort

The Government has established a steering committee for the deployment of the country’s economic recovery and development program, led by Deputy Prime Minister Le Minh Khai.

Entertainment and cultural events of the week (July 4-10)

Upcoming entertainment and cultural events in Vietnam's major cities on July 4-10/2022.

Kim Duyen wins Supra Model Asia at Miss Supranational 2022

Kim Duyen - Vietnamese representative at Miss Supranational 2022 - qualified in the top 11 Supra Chat and was awarded the title of Supra Model Asia of Miss Supranational 2022.

VN Trade Promotion Department lauds ASEAN export opportunites

Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade.

New policy boosts insurance market's long-term development

The newly-issued Law on Insurance Business is expected to positively impact the insurance market's long-term development.

Rules on business in prize electronic games for foreigners

The Ministry of Finance has issued a circular guiding the implementation of some articles of the Government’s Decree No. 121/2021/ND-CP on business in prize electronic games for foreigners in Vietnam.

Vietnam wins 13 awards at “Two country circuit” photo contest

Vietnamese photographers have won 13 medals and certificates of honour in travel, portrait and free categories at the 7th “Two Country Circuit” photo contest 2022.

True Italian Taste 2022 promotes Italian cuisine in VN

True Italian Taste 2022, a project aiming to promote authentic Italian cuisine to the world, has kicked off in Vietnam.

Who will work when so many public-sector staff have been disciplined?

“No need to worry that the country won’t have cadres to work," said Party Secretary General Nguyen Phu Trong.

Labour export to South Korea temporarily halted for eight localities

The Ministry of Labour, Invalids and Social Affairs (MoLISA) has announced that the labour migration programme with South Korea will be temporarily suspended for eight districts, towns and cities.
back_to_top