Vietnam – European Union Free Trade Agreement (EVFTA) – implementing plans in the near future

On the morning of August 6, the National Online Conference on the Vietnam – European Union Free Trade Agreement (EVFTA) chaired by Prime Minister Nguyen Xuan Phuc deployed the implementation plan of the Agreement, with the participation of the Prime Minister. Attended by Mr. Nguyen Van Thanh, Vice Chairman of Hai Phong City People’s Committee. 

This is the first conference with the full participation of ministries, agencies, and localities to discuss and agree on solutions and ways to implement the FTA synchronously and comprehensively. EVFTA is a very different FTA from previous free agreements, because of the influence of EVFTA on the development of the country. 

EVFTA implementation plan

Previously, on August 4, the Prime Minister issued a plan to implement the EVFTA, assigning tasks and responsibilities of relevant agencies and organizations, deciding on measures to direct and administer and other measures. fully and effectively implemented. At the conference, the Prime Minister also clarified the reasons why the communication about international integration, specifically the EVFTA is not effective, and the taking advantage of opportunities from the EVFTA is not as expected, specifying the specific reasons are: by policy or by both state management agencies and businesses. From there, propose remedial measures, highlighting important issues that the government, businesses and localities need to do to make the best use of the opportunities brought by the EVFTA, especially in the context of the economic crisis. severely affected by COVID-19. Besides the advantages, the EVFTA also has many challenges. especially requirements for sustainable development and very high competitiveness. Therefore, each business and locality needs to have specific programs to integrate deeper, bring greater socio-economic efficiency, to bring the country’s economy to development.

At the conference, Minister of Industry and Trade Tran Tuan Anh presented an overview of the Government’s EVFTA implementation plan and issues that ministries, sectors and localities should pay attention to to ensure effective implementation of the Agreement. EVFTA. Representatives of departments and associations will have exchanges and discussions with central ministries and branches on many issues related to the implementation of the Agreement, difficulties and obstacles for businesses when approaching the EVFTA, especially especially institutional and policy issues that need to be removed in order to make the most of the opportunities and benefits from the EVFTA.

Thủ tướng Chính Phủ Nguyễn Xuân Phúc phát biểu tại hội nghị
Prime Minister Nguyen Xuan Phuc speaks at the conference

Import and export situation between Hai Phong and EU

In Hai Phong, in 2019, the import-export turnover between Hai Phong city and the EU market through the port reached nearly 2 billion USD, the cooperation relationship between the city and EU countries is increasingly close and effective. To prepare for the implementation of the Agreement, Hai Phong developed an implementation plan, focusing on five main groups of tasks. In order to improve efficiency, Hai Phong suggested the Government and Prime Minister continue to direct the review, review, amendment and supplementation of important laws such as the Law on Investment, the Law on Enterprises, the Law on Environmental Protection, and the Law on Environmental Protection. Labor Law to be consistent with the provisions of the EVFTA Agreement, develop and issue the Implementation Plan of the Free Trade Agreement between Vietnam and the European Union (EVFTA) to serve as a basis for localities to implement presently. 

EVFTA for Vietnam market in the near future

The EVFTA Agreement was signed on June 30, 2019 in Hanoi and took effect from August 1, 2020. The EVFTA will be a huge boost to Vietnam’s exports, helping to diversify export markets and products, especially agricultural and aquatic products as well as Vietnamese products that have many competitive advantages. . Commitments to fair, equal treatment, safe and adequate protection of each other’s investments and investors in the IPA Agreement will also actively contribute to building a legal and investment environment. transparent investment, so that Vietnam will attract more investors from the EU and other countries. The highway to the west, connecting Vietnam with a market space of more than 450 million people and has the world’s leading potential. The Agreement is a golden opportunity to help the two sides promote cooperation and mutual development.

NDV – Nam Dinh Vu Industrial Park

The signing of the EVFTA will open up many great opportunities for domestic enterprises and foreign investment in Vietnam. NDV – Nam Dinh Vu is proud to be the only industrial park with an international port in the area, extremely convenient for Logistics. Modern infrastructure and synchronous utility system ready for production. The investor is Sao Do Group, with 20 years of experience in project development in Hai Phong, ready to advise international investors to have the best start, contribute to the development of Dinh Vu Industrial Park and common prosperity in Vietnam!

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