The UK-Vietnam Free Trade Agreement (UKVFTA) has had a significant impact on Vietnam’s export-oriented industries, driving growth and opening up new opportunities for both countries, experts have said.

Deputy Prime Minister Tran Hong Ha urged authorities to establish national job, and real estate and land use right exchanges, at a meeting with representatives from concerned ministries and agencies in Hanoi on August 21.

Commercial banks have persistently reduced deposit interest rates, resulting in rates for many terms now standing at just above 6% per annum.

Vietnamese automaker VinFast Auto Ltd and Black Spade Acquisition Co announced on August 14 the completion of their previously announced “Business Combination”.

Big data on e-commerce would help the tax watchdog to efficiently collect tax from foreign cross-border IT services providers, according to Nguyen Bang Thang, director of Tax Management Department of Large Enterprises.

Inadequate transport infrastructure and connectivity, and domestic enterprises’ low capacity and slow technology adoption and digital transformation are hindering the otherwise rapidly growing logistics industry, experts have said.

Regulations on criteria for “made-in-Vietnam” products have not been issued since the Ministry of Industry and Trade’s proposal five years ago due to difficulties in origin traceability and worries over the burden of compliance costs on enterprises, the ministry said.

The northern border province of Lang Son is continuing to upgrade the digital border gate model, moving towards building a smart border gate.

The Australian Cotton Trade Delegation to Vietnam is organising a series of activities in Ho Chi Minh City, Hue and Hanoi from August 7-11 to strengthen relations between Vietnam’s textile manufacturers and Australian cotton producers.

Vietnamese enterprises in the auto industry are not deeply involved in the global supply chain. To become global suppliers, domestic enterprises must be consistent with the management culture and business philosophy of global manufacturers, experts have said.