NA Vice Chairman urges completion of FTA with European Free Trade Area

Viet Nam's e-commerce revenue is projected to grow by 23-25% annually to reach 93-97 billion USD by 2030, accounting for 18-19% of total retail sales of goods and consumer services revenue.

Discussions focused on promoting Thai Nguyen and Vietnamese tea brands, facilitating technology transfer, expanding exports and attracting investment to deep processing, logistics, e-commerce and tea-based tourism.

The seminar is expected to connect policymakers, businesses and innovation initiatives, expand cooperation in trade and services, and promote the development of a modern, smart Cao Bang Border Gate Economic Zone.

Deputy Minister of Industry and Trade Luong Hoang Thai highlighted the electronics industry’s significant contribution to national exports, calling on businesses and experts to analyse its import-export structure, identify challenges and propose solutions to improve its development prospects.

In its initial phase, the airport is expected to handle up to 366 flights per week, including 322 domestic and 44 international services.

During the journey from Hanoi to Luu Xa Station in Thai Nguyen, passengers can enjoy local tea and traditional cuisine, as well as performances of Then folk singing accompanied by the Tinh lute, a traditional musical instrument of ethnic communities in northern Vietnam.

Viet Nam recorded a trade surplus of an estimated 6.8 billion USD in October, marking the second consecutive month of surplus and narrowing the cumulative trade deficit for the first 10 months to around 12.7 billion USD.

According to Vice President of the Foreign Trade University Associate Professor Dr. Dao Ngoc Tien, the VEFTA’s long-term value lies largely in its non-tariff commitments, which establish institutional frameworks, principles and cooperation mechanisms with lasting economic impacts.

The trade office introduced four investment priorities of Vietnam. These includes renewable hydrogen production, covering electrolysis, offshore wind-to-hydrogen, green ammonia and liquid hydrogen exports; storage, compression, pipelines, transport networks and port logistics; industrial decarbonisation and fuel switching in heavy transport and shipping; and hydrogen applications in steel, fertilisers, chemicals, cement, power generation and heavy transport.

Experts emphasise that reducing logistics costs requires integrated planning, investment, operations and data sharing. Developing infrastructure projects separately, without considering regional demand and stable cargo flows, risks duplication and wasted resources.

Bill Giannikos, Director of the Global Services Centre and Data Centre at Aurecon Vietnam, said data centre development has to be planned alongside land, power, telecoms and supporting services. Investors need clear information on land availability, power capacity, supply timelines and connectivity before committing to large projects.

This year’s fair features 300 booths across 10,000 square metres, including 250 Vietnamese booths and 50 run by Chinese partners. They showcase a wide range of products, including agricultural produce, food, medicinal herbs, consumer goods, machinery, equipment, and handicrafts.

Thang tasked the operating agencies in both cities with completing the necessary conditions in October and working directly with financial institutions and investors to attract members and generate transactions in November, while ensuring legal compliance and financial security.

The figure rose 11% year on year, down from the 14% growth recorded in the first half of the year.

While the agreement awaits entry into force, businesses are recommended to review tariff schedules, product-specific origin requirements, the costs of origin certification, quality testing and compliance with importers’ standards. Early preparation will help them make effective use of the new opportunities.

Institutional reform should go beyond reducing red tape to build business confidence and encourage companies to invest and expand operations.

The official visit to Belgium by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam is expected to provide fresh impetus for cooperation in trade, investment, science and technology, innovation, high-quality human resources training, logistics and green growth.

Vietnam's seafood exports could exceed 12 billion USD this year if demand from China remains strong and peak-season orders proceed without disruption, according to VASEP.

Swiss President Guy Parmelin has described the newly signed free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA) as a strategic commitment to closer economic cooperation, expected to strengthen legal certainty, improve market access and create fresh opportunities for businesses from both sides.

The project marks a strategic shift in VIFON’s European expansion, from exporting products to directly manufacturing and distributing them in the target market.