Investment News

Effective exploitation of free trade agreements


In the period of 2021-2022, Quang Ninh has made many innovations and breakthroughs in applying the guidelines and policies of the Party and State, especially the policy line on international economic integration related to the implementation and exploitation of the national economy. effectively exploit Free Trade Agreements (FTAs) in socio-economic development. Therefore, the import-export turnover of enterprises in the province into difficult markets continues to increase and Quang Ninh is also a destination for multinational investors.

  Investment promotion conference in Quang Ninh in 2022.

In the context that Vietnam's participation in FTAs is increasingly extensive, the province determines that promoting propaganda and dissemination of content and policies on FTAs is extremely important for state management agencies as well as businesses. , people timely grasp and apply flexibly and effectively. Accordingly, departments, branches and localities always attach great importance to and pay attention to the propaganda and dissemination of policy contents of new generation FTAs for officials, public servants, public employees, organizations and businesses. industry in the province, especially about the new generation FTAs that Vietnam has signed, such as: CPTPP Agreement (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), EVFTA Agreement (Agreement on Trans-Pacific Partnership) Free trade between Vietnam - EU), UKVFTA Agreement (Vietnam - UK Free Trade Agreement) and RCEP Agreement (Regional Comprehensive Economic Partnership Agreement between ASEAN and its partners) ...

Thanks to the timely grasping of mechanisms and policies related to the implementation of the FTAs that have taken effect, the import-export turnover of enterprises in the province to the UK is enjoying preferential tariffs from the UKVFTA Agreement. again reached about 23 million USD; Import-export turnover to countries in the RCEP bloc is over 1.2 billion USD. Taking advantage of the tariff preferences of the FTAs that Vietnam participates in, the issuance of certificates of origin (C/O) at the Import-Export Management Department in Quang Ninh has increased sharply.

  The Japanese delegates studied the introduction document about Bac Tien Phong Industrial Park, Quang Yen Town. Photo: Minh Ha

Along with propaganda and investment promotion work, the province focuses on deploying with partners from countries participating in FTAs with many innovative and creative ways. Specifically, organizing an online working session with investment delegations to learn about business investment opportunities in the area, typically the Greek Presidential Delegation, the Korean Ambassador Extraordinary and Plenipotentiary to Vietnam, the delegation survey Asia - Pacific Economic Center, Thai investment promotion office delegation...; attend conferences and online seminars on investment promotion. In particular, the Provincial People's Committee has also promoted the organization of investment promotion conferences so that foreign investors can better understand the strengths and potentials of the province such as: Coordinate with the Chamber of Commerce and Industry Korea held an investment promotion conference for Korean enterprises with the theme "Quang Ninh - Investment destination"; Conference on investment promotion in Quang Yen coastal industrial zones and economic zones. During times of the Covid-19 outbreak, causing disruption to activities, the province still maintained online promotion conferences with Japanese and Taiwanese businesses.