Viet Nam urged to move up global value chains post-pandemic

Participants look at products displayed at an exhibition area held as part of a conference on global supply chain movement yesterday in HCM City. — VNS Photo Bo Xuan Hiep Viet Nam needs to diversify global supply chains in order to achieve inclusive growth and attract investment after the pandemic ends, speakers said at a meeting in HCM City on Wednesday. Nguyen Huu Tin, director of the HCM City Investment and Trade Promotion Centre (ITPC), said Viet Nam was among a few countries in the world achieving positive growth in the first 10 months of the year. Commodity exports in the period increased by 4.7 per cent over the same period last year, with a total US$229.27 billion. The country’s trade surplus reached a record high ($18.72 billion) in the period. The EVFTA, which took effect on August 1, and the Regional Comprehensive Economic Partnership (RCEP), which was signed on November 15, have opened up many opportunities for Viet Nam’s economy to grow, he said. With 13 free trade agreements (FTAs) and two FTAs under negotiation, Viet Nam is one of the most open economies in the world, creating a great opportunity to develop new supply chains, according to Tin…. Read full this story

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