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The EU-Vietnam Free Trade Agreement and the Investment Protection Agreement are expected to create big opportunities for Vietnamese and EU businesses. Iwan Rutjens, Economic and Commercial Counselor at the Embassy of the Netherlands in Hanoi, writes about the significance of the deals and how they c.
With ratification of the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement, the floodgates are expected to open for a new wave of European investment into the Vietnamese market, especially in services, ICT, finance, transport, and distribution.
In 2019, China ranked as Vietnam's second-largest foreign market with $41.41 billion, just behind the United States. However, the epidemic outbreak in China has had a great impact on trade between the two countries, as well as tourism and aviation.
Vietnam has maintained its third spot in the international ranking of logistics opportunities, according to the Agility Emerging Market Logistics Index in 2020.
While several sectors are being hit by the coronavirus outbreak in Vietnam, the pharmaceutical and healthcare industry is taking an advantage, with numerous expansion strategies among players being placed in the gun barrel.
The unfavourable prospects of the Thai packaging industry, dimmed by the ban on single-use plastic bags in the country, may force packaging manufacturers to shift business to nearby markets like Vietnam.


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