Vietnam should take stronger measures related to origin of goods and products to avoid risks of lawsuits or being taken advantage of by other countries to evade US import tariffs.
Vietnam will have to compete with many rivals to attract foreign investors who are considering relocating their production bases out of China.
With its early success in containing the Covid-19 pandemic, Vietnam is having a jump-start among potential investment destinations in attracting a new wave of FDI.
Vietnam is a good destination for foreign investors as they relocate production bases out of China to reduce operation costs.
Economists say the US-Iran tentions have had a mild impact on Vietnam, but the country needs to prepare for worse to come if tensions escalate.
In 2020, the country’s domestic demand is set to benefit from generally supportive financial conditions amid low inflation and robust capital flows.
The target of exporting $40 billion worth of textiles and garments this year may be unattainable.
The new regulation on certificate of origin (C/O) makes it more for Vietnam to obtain $11 billion in woodwork exports this year as planned.
A number of foreign-invested firms have falsely labeled their products as originating from Vietnam to avoid trade safeguard instruments amid the US-China trade war.
The $9 billion trade surplus helps improve the foreign currency supply and consolidate the current account, but the amount is not entirely praiseworthy in the context of trade war.
The neighboring country remained Vietnam’s leading supplier of steel over the last three years, with the quantity and value growing at two-digit growth rates annually.
The US-China trade war may be behind such a record figure.
While the recent trade tensions have merely accelerated the movement of supply chains to Vietnam, they were not the trigger.
Increasing exports to the US, Vietnam is a step closer to the risk of alleged monetary manipulation as US President Trump tries to reach a trade agreement with China at a negotiation round this October.