Illustrative image (Photo: VNA)
Accordingly, the Japanese government has officially announced the easing of entry restrictions, permitting foreign labourers, international students and family visa holders to enter the country.
VNA reported that the country allows a maximum of 5,000 people to enter per day from March instead of just 3,500 like before.
Japan’s authorities have also allowed online applications for entry permits through the Entrants, Returnees Follow-up System (ERFS), starting from 10am on February 25, 2022.
Regarding the number of Vietnamese guest labourers working abroad in the first months of 2022, the Department of Overseas Labour Management said although foreign markets have begun to resume the reception of Vietnamese workers, requirements for COVID-19 pandemic prevention and control are more stringent.
The quarantine period for both Japanese people and foreigners after entering Japan can be reduced from seven days to three days.
Those who have been vaccinated three doses of COVID-19 vaccines and from a country considered not to be at high risk of the pandemic, will be exempted from quarantine.
Vietnam told to remove hurdles to attract FDI from Europe
Vietnam has been advised to remove a number of bottlenecks in a bid to further improve the local business climate and attract high-quality FDI inflows from Europe, reported VOV.
Vietnam needs to further improve the local business climate to attract high-quality FDI inflows from Europe (Photo: congthuong.vn)
Dang Tuyet Vinh from the European Chamber of Commerce in Vietnam (EuroCham), revealed that the fourth wave of the COVID-19 pandemic which hit Vietnam last April had dealt a blow to European operations locally, causing Eurocham’s Business Climate Index (BCI) to drop to a record low level.
Despite this fall, Vinh pointed out that leaders of many European firms remained optimistic about the local trade and investment environment, particularly when the BCI rose to 61 points in January, representing a jump of 42 points since the third quarter of last year.
These positive signs can largely be attributed to the country’s rapid vaccination coverage coupled with the Government’s strong determination to gradually reopen the economy.
Alongside COVID-19 containment efforts, the EuroCham representative also highlighted the government’s efforts to improve the investment climate in recent times, a factor which has served to turn the country into an attractive destination for financiers.
Most notably, Vinh spoke highly of the various achievements obtained from the effective implementation of the Government’s Decree No.15 relating to food safety management which has helped the local food industry experience high growth, even during the pandemic.
In addition, with the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) and the impending EU-Vietnam Investment Protection Agreement (EVIPA), Vietnam will seize the opportunity to attract fresh waves of FDI from European investors, Vinh added.
The trade official went on to underline the need to resolve existing issues relating to infrastructure, human resources, the business environment, as well as simplifying administrative procedures and deploying institutional reforms to further attract FDI from Europe.
Vietnamese firms urged to expand ties with Japanese investors amid new trends
Domestic firms should consider expanding partnerships with Japan in new areas like smart city and startup incubation, VOV cited the saying by Dr. Vo Tri Thanh, Director of the Institute of Branding and Competition Strategy.
BTATN9321dailyvietnamesefirm.jpg
A store of Japanese clothing brand Uniqlo in Vietnam (Photo: baodautu.vn)
Unleashed potential for Vietnam-Japan cooperation remains huge, he said.
However, “we are living at a time when the frequency and intensity of uncertainties are growing,” he said, adding that changes in geopolitics and finance-monetary affairs, together with the pandemic, climate change and natural disasters are creating new landscapes, which trigger a shift in global supply and value chains.
He highlighted several noteworthy factors in the supply chain shift that are relatively relevant to the regional situation, saying first of all, Asia Pacific remains crucial to the global production network thanks to its competitive advantages as well as trade and investment liberalisation which have been accelerated over the past several decades.
Secondly, the fourth Industrial Revolution and the digital transformation have optimised supply chains, leading to shortened or shrank supply chains, he continued.
Thirdly, geopolitical tensions like the trade dispute between the US and China, and the COVID-19 pandemic has set the scene for the development of new trends. Many countries now are more interested in strategic items like masks and medical supplies as well as in developing core technologies and identifying trusted partners.
Regarding bilateral cooperation in the value chain, Japan remains one of Vietnam’s largest foreign investors, with more than 65% of FDI flows from Japan poured into the manufacturing and processing sector in Vietnam.
Vietnam imports Cambodian rice with preferential tax on offer
According to the Ministry of Industry and Trade, Vietnam is set to offer a special preferential tariff for rice and dry tobacco imported from Cambodia this year.
The total quota for rice and dry tobacco this year stands at 300,000 and 3,000 tonnes, respectively.
Rice and dry tobacco imported from Cambodia must have certificate of origin form S (C/O form S) issued by the Cambodian Ministry of Commerce, or by agencies authorised by the Cambodian Government.
Photo for illustration (Source: vietnamnet.vn)
The circular is due to take effect from April 15 to December 31.