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99 Percent Less Customs Duties Between The EU And Vietnam

01/23/2020

99 Percent Less Customs Duties Between The EU And Vietnam

On July 30, 2019, Hanoi, the European Union signed the trade and investment protection agreement that has been under negotiation for several years. These agreements are said to be the most ambitious the EU has ever made with a "developing country".

This agreement also includes a ban on child labor and a commitment to implement the Paris climate protection agreement.

If it should actually be implemented in the coming months and years, i.a. only about 1% of the current tariffs remain.
This is of great interest not only for exporters, especially producers who are looking for a new location could target Vietnam; This country not only has several - from a commercial point of view - inexpensive container ports, but also has a very central and advantageous geographical location in the Pacific region. For example, Myanmar, Laos, Thailand, Cambodia, Malaysia, Singapore, Indonesia, the Sultanate of Brunei and China are only a stone's throw away from Vietnam.

This article has been published in the following language(s): DE, EN

Posted on March 22, 2018 - NDH (Vietnam), Infographic: Những nhà máy lọc dầu tỷ đô tại Việt Nam

Vietnam: 600 million tons of oil reserves

29.08.2018

Vietnam: 600 million tons of oil reserves

The current oil reserves in Vietnam are estimated at around 600 million tonnes¹.
At present, only two refineries use this liquid raw material. Both together process about 16.5 million tons of crude oil²

The relevant economic authority of Vietnam will soon increase this quota to 36 million metric tons. It is planned to build new refineries. The first steps are already done. Two refineries are still in the planning, another is already under construction.
Further use of the products, e.g. for the processing of liquefied gases in the chemical industry in Vietnam, is currently unknown to us.

¹The estimate is based on verbal message. It was compared with various searches on the internet.

²One of the two refineries has just been completed. It is expected that about 10 million tons of oil will be processed each year in the near future. The existing refinery processes about 6.5 million tons of oil annually.

This article has been published in the following language(s): DE, EN

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Posted on March 22, 2018 - NDH (Vietnam), Infographic: Những nhà máy lọc dầu tỷ đô tại Việt Nam