Business News

Currently, dairy products are subject to 5-20 per cent tariffs. For instance, for cheese it is 10 per cent. However, the EVFTA will gradually eliminate all duties. Under these circumstances, dairy trade flows between the EU and Vietnam will most likely increase.

New-generation free trade agreements are increasing the importance of domestic logistics groups, with Vietnam emerging as a safe yet high-return market for overseas parties pouring money into new developments.

Further clarifying the legal framework for infrastructure development via wider participation of private investors is expected to help the country attract more funding into the industry.

With its annual growth of 12-14 per cent, the logistics sector, especially seaports, is becoming attractive to both domestic and foreign investors, experts said.

This was stressed at the seminar titled "Logistics industry before the turning point of digital transformation. Risk management to properly and effectively digitize services", held in Ho Chi Minh City on September 30.

HCM City plans to complete a number of major transport projects by 2025 that are expected to reduce traffic congestion at city gateways and improve connections to neighbouring provinces.

According to Sacombank Securities Joint Stock Company (SBS), due to the pandemic, port throughput has decreased in growth momentum compared to previous years as exports to Europe and the US fell sharply. Key products such as apparel and leather shoes witnessed orders fall more than 50 per cent.

Developing ecological industrial real estate is a new direction for the central city of Danang in its strategy to attract investment into high-tech projects, with many companies interested in large-scale logistics projects manifested by the upcoming Lien Chieu deepwater port.