Vietnam urged to build infrastructure for investment shift

The Ministry of Industry and Trade and the American Chamber of Commerce hosted the Vietnam�US trade forum in Ho Chi Minh City on Friday.

Themed Shifting of global supply chain � opportunity to boost bilateral trade and investment, the event provided updates on relevant policies and analyzed challenges and opportunities for enterprises amid trade conflicts among world economic powerhouses.

Multiple participants said the US-China trade war has created trade holes, which provide opportunities for Vietnamese businesses to boost exports to the US. But these opportunities are short-term and there will be numerous difficulties, according to Le Trieu Dung, Director of the Trade Remedies Authority at the Ministry of Industry and Trade. He said: "The Ministry of Industry and Trade and relevant agencies have closely watched import-export activities and detected cases with signs of law violation. We have also tightened the granting of certificates of origin and thoroughly checked exports suspected of violating rules on origin of goods.

Trade turnover between Vietnam and the US reached 35.4 billion USD in the first half of this year. The figure was nearly 60 billion USD last year. Vietnam is the 9th biggest exporter to the US, a sharp increase from the 12th place last year.

Source: VOV5