Dr. Nguyen Duc Thanh, Founder and Chief Advisor of the VEPR will share his insights on the EVFTA.

The world recognizes Vietnam’s success in coping with COVID-19. Although the growth of 1.81% in the first half of 2020 is not high, it remains positive compared to other countries in Southeast Asia and the world. The Vietnamese Government has introduced many policies to support the economy during and after the pandemic. In addition, the enforcement of EVFTA since August 1st 2020 is expected to aid Vietnam’s economy to recover faster thanks to the benefits of the large European market. The EU is Vietnam’s second most important export destination worldwide, right after the United States. Vietnamese goods (e.g. shoes, clothes, smartphones, shrimps, fish) in the EU market are more than its regional peers in ASEAN. Germany, in particular, is ranked the second important export destination in the EU (after Netherland) and the firth worldwide. In exchange, Vietnam is also expected to become more attractive to European investors. In a report, research and advisory platform Germany Trade & Invest (GTAI) points out that the EVFTA provides better access to public procurements in Vietnam. EU companies can take part in public projects and Public-Private Partnership (PPP) projects more easily, leaving their footprint in Vietnam.

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