Việt Nam’s fishery sector will gain advantages and export opportunities once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA) take effect, heard a seminar in HCM City on April 20. CPTPP, EVFTA to benefit Vietnamese fishery sector, illustration photo Vương Đức Anh, from the Ministry of Industry and Trade’s Department of Export-Import, said the CPTPP and EVFTA are new-generation trade deals with trade facilitation as a core value via cutting tariffs. Under the EVFTA, aquatic products, excluding canned tuna and fish balls, will enjoy a zero tax for a maximum of seven years. While under the CPTPP, Canada and Peru will cut taxes to zero per cent once the deal takes effect. Other countries will offer tax reductions in accordance with roadmaps. Anh said the signing of the EVFTA and CPTPP will afford Vietnamese fishery firms chances to expand … [Read more...] about CPTPP, EVFTA to benefit Vietnamese fishery sector
US President Donald Trump signing the ordinance to withdraw the US from the TPP Comparing the multi-country trade agreement to a glasswork, Yoshihide Suga, Japan’s Chief Cabinet Secretary cautioned against any efforts to change it to accommodate President Trump. He told New York Times: “It is difficult to bring part of the pact and re-negotiate the CPTPP,” and called it a “well-balanced pact” that carefully addressed the needs of the current eleven member countries. Taro Aso, Japanese Minister of Finance, said he would welcome a decision by the US to explore rejoining the CPTPP. “If it is true, I would welcome it.” But he added that he needed to verify facts carefully. “Trump is a person who could change temperamentally, so he may say something different the next day,” Reuters reported. New Zealand’s Trade Minister David Parker questioned how real the engagement was, given similar comments of President Trump in Davos. … [Read more...] about US wish to rejoin to cause turmoil within CPTPP?
Representatives from the Ministry of Labour, Invalids and Social Affairs, the World Bank, as well as a number of domestic and foreign-invested enterprises (FIEs) will attend a workshop on April 5 to discuss potential applications of IT in human resources training ahead of the enforcement of the Comprehensive and Progressive Pacific Partnership (CPTPP). The CPTPP is expected to boost foreign investment in Vietnam by a great deal Held by Cloud Learning System (Huong Viet Group) and the Vietnam Chamber of Commerce and Industry (VCCI), the event aims to help domestic and foreign-invested enterprises (FIEs) approach new solution to ease their thirst for high-quality workforce to facilitate their future business operations in Vietnam after the CPTPP. Top issues under discussions will be quality of human resources, and measures to help domestic and FIEs to improve manpower training quality, including rhe application of technology. The chronic lack of high-quality workforce has been … [Read more...] about High quality workforce: a hot issue before CPTPP
Viet Nam News HCM CITY — At least six member countries of the Transpacific Partnership’s new avatar, the CPTPP, including Việt Nam, are likely to ratify it this year, enabling it to come into force in early 2019, a seminar heard in HCM City yesterday. On March 8 the CPTPP, formally known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, was signed in Santiago, Chile, by the 11 remaining countries -- Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Việt Nam -- after the US pulled out from the original deal, the TPP, last November. Gaining access to the US market was a major reason for many countries to sign the deal, meaning the US’s withdrawal made TPP-11 less attractive, Ngô Chung Khanh, deputy director of the Ministry of Industry and Trade’s multilateral trade policy department, said. “But it is only in the short term. In the long term, the CPTPP still offers … [Read more...] about CPTPP likely to launch early 2019
Vietnam needs to address the growing demand for skilled workforce For years, a shortfall of skilled workforce has remained a thorny issue for both domestic and FIEs in Vietnam. As shown in the Provincial Competitiveness Index (PCI) 2017, only 31 per cent of nearly 1,800 FIEs are satisfied with the labour quality in Vietnam. The Vietnamese workforce over the age of 15 is 53.5 million strong, but only 9.99 million people or 18.6 per cent are skilled workers, meaning unskilled workers make up 81.4 per cent of the country’s total workforce. The local workforce also lacks many necessary skills, like problem solving, IT, especially foreign language skills, and adaptability. Moreover, the levels of innovation and creativity among skilled local employees are still low. Looking at the competitiveness of businesses in Vietnam, it is easy to see how low quality workforce bridles the GDP growth rate. Every year, Vietnam's labour productivity increases by 3 per cent on average, while GDP … [Read more...] about Technology application—a new trend in HR training ahead of CPTPP