Amidst the increasing demand for raw materials in the food, cosmetics, and pharmaceutical industries, and Vietnam’s participation in various free trade agreements, the country’s herbal products, particularly cinnamon and star anise, are well-positioned to capitalise on the opportunity for development, heard a conference in Hanoi on September 28.

Solutions to promote the development of Vietnamese brands in member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement were discussed at a seminar hosted by the Cong Thuong (Industry and Trade) magazine in Hanoi on September 27.

Amid a decrease in industrial production, Vietnam is under great pressure to help the economy out of its woes and to touch its desired economic growth targets from now until 2025.

In an era marked by increasing globalization, geopolitical tensions, and shifting economic landscapes, businesses worldwide are constantly evaluating their strategies to ensure resilience and sustainability. A relatively new concept that has gained attention in recent years is “friendshoring” – a strategic approach to offshoring or outsourcing that prioritizes countries with which a company’s home nation shares amicable diplomatic, economic, or trade relations.

India will seek the removal of ‘additional Final Bound Total Aggregate Measurement of Support (FBTAMS) entitlements’ at the next WTO interministerial meeting

A number of large enterprises from the Republic of Korea (RoK) are continuing to pour investment into Vietnam, turning the Southeast Asian country into their leading manufacturing hub in the world.

Nearly 1,000 foreign enterprises from 28 countries and territories, including giants such as Boeing, Walmart, and Central Retail, have entered Vietnam to explore investment opportunities and seek partners since early September.

Vietnam will internalize additional tax and incentive policies to support the enforcement of the global minimum tax in early 2024, in order to prevent tax evasion and encourage foreign businesses to operate in the long term in the country, said Finance Minister Ho Duc Phoc.

Despite the weak external environment, the Vietnamese economy remains resilient, and recovery is expected to pick up in the near term, said Asian Development Bank (ADB) Country Director for Vietnam Shantanu Chakraborty.

Being considered a "market economy" by major importing countries such as the US and EU gives Vietnam an advantage in anti-dumping and subsidy investigations.