The US-China trade war, additional investment and new free trade agreements have all had a positive effect on Viet Nam’s industrial sector. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) became official in January while the EU Viet Nam Free Trade Agreement (EVFTA) was signed in June 2019. This historic and ambitious agreement will eliminate 99% of customs duties and has raised interest in industrial property.
Regional Comprehensive and Economic Partnership (RCEP) negotiations are underway and are expected to be finalised at the end of 2019. The agreement will increase cooperation between ASEAN countries and the six Asia-Pacific states with existing free trade agreements. By enabling the latest production technologies and increasing workforce training, the government is actively easing qualms around viability, labour shortages and rising costs for a more transparent business environment. – Savills Vietnam
