Altios gives its highlights on the opportunities the EVTA is bringing to the Southeast Asian Region.

Signed on 8 June 2020 and effective since August, the EU-Vietnam Trade Agreement (EVTA) makes Vietnam the second Southeast Asian Nation after Singapore, to have such a trade agreement with the European bloc.

Business opportunities look optimistic for both the EU and Vietnam, with a good percentage of goods exported from both parties to be duty-free. This is especially attractive for multinational manufacturers outside the EU, with manufacturing imports from Vietnam to the EU expected to increase.

Companies looking to expand into Southeast Asia would be met with a nurturing trade environment, despite the ongoing disruption that the Coronavirus pandemic has brought upon International trade.

Access the full article here as reported by the Financial Times.

In an effort to expand its footprint across the South East Asian region, ALTIOS has opened offices in Kuala Lumpur, Malaysia, and Ho Chi Minh City, Vietnam.

Vietnam is set to continue its multi-year run of 6-7% annual GDP growth. In 2018, foreign direct investment (FDI) into Viet Nam rose by 9.1% year over year to hit US$19.1 billion, marking this dynamic country’s sixth record year for FDI in a row. The Vietnamese Government has been incredibly supportive of business on both the small and large scale, and on the domestic and international fronts.

In Malaysia, FDI inflows reaching USD 7,6 billion in 2019. FDI stock was about USD 169 billion in 2019. Multinationals in the M&A sector, such as those in the health and mining sectors have sustained the level of investment. Malaysia has seen a steady improvement in its business climate for domestic small and medium-sized enterprises, moving up three places to a global rank of 12th out of 190 economies.