The rapid expansion of electric vehicles (EVs) has raised a pressing need for Việt Nam to develop a synchronous grid and charging infrastructure and a step-by-step roadmap is critical to phase out fossil fuel vehicles.

Promoting sustainable production and consumption has been of interest to businesses and the Government, but there are still many obstacles and difficulties that require the participation of many parties, including manufacturers and consumers. Mr. Ho Tung Bach, Deputy Head of the Consumer Protection Department, National Competition Commission (Ministry of Industry and Trade) shared about this issue.

In the first half of this year, the total trade turnover between Vietnam and the UK reached more than US$3.9 billion, an increase of 21.7% over the same period from 2023, with Vietnam recording a trade surplus of more than US$3.2 billion, up 28.5% on-year, according to preliminary statistics compiled by the General Department of Customs.

In the first seven months of 2024, the industrial production index (IIP) is estimated to have increased by 8.5% compared to the same period last year. Many key industrial products have achieved high growth rates.

Expanding export markets is the goal of most enterprises to increase revenue, profits as well as enhance the reputation and stature of the business brand.

According to the Ministry of Agriculture and Rural Development (MARD), Vietnam's total export value of agricultural, forestry, and fishery products in the first seven months of 2024 reached US$34.27 billion.

The EVFTA has strengthened Vietnam’s attractiveness to European investors, and has significantly boosted Vietnam’s exports to Europe.

The Vietnam-Canada Business Association (VCBA) on August 9 coordinated with the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) to organise a seminar in both in-person and online format to support Vietnamese enterprises in accessing the North American and Canadian markets.

Vietnam is looking forward to being recognized as a market economy by the US, which would bring more opportunities to Vietnam’s exports. Many countries have voiced their support of Vietnam.

Developing a socialist-oriented market economy is a cornerstone of Vietnam's renewal efforts. Throughout various Communist Party Congresses, this topic has consistently been a focus, necessitating thorough understanding and action. Vietnam has successfully integrated elements of a market economy and reaped undeniable development achievements.