In a landmark agreement seen as a significant boost to industry and exporters in Viet Nam, the EVFTA will ultimately see 99% of tariffs on goods removed. Local industrial parks and zones are even more under the investment spotlight.
EU investors are showing extensive interest and the move toward a more transparent investment environment, will further amplify Vietnam’s reputation. However recent US steel tariffs against Vietnam based producers from Korea and Taiwan show export provenance is under increasing international scrutiny .
Troy Griffiths, deputy MD Savills Vietnam said “More good news for Viet Nam property. This underlines government commitment to establishing Vietnam as the go to manufacturing destination in Asia. Inevitable increases in trade will see more FDI, jobs and opportunities in every property sector.”
John Campbell who leads Savills Industrial confirmed EU enquiries had increased in anticipation of the deal being ratified and advises: “This latest FTA has Vietnam industrial property under even greater interest. By enabling the latest production technologies to be set up here and increasing workforce training, the government is actively easing business fears of viability, labour shortages and rising costs 2. Moving to a more transparent business environment will help mitigate investor concerns and improve quality standards.”