Significant impacts of EVFTA is expected to help speed up the development of Vietnam economy in general and sheet metal industries in particular.
According to general evaluations from many sides, EVFTA will have positive impacts on each and every aspect of Vietnam:
A more narrow look at metal sheet industry, which is a part of Vietnam economy, will help us see how big the impacts could be. Although EVFTA does not directly mention metal sheet fabrication industry, and it only mentions textile, seafoods, healthcare, logistics, electronics, IT industries etc., but those industries can not be seperated from metal sheet industry. In other words, products from metal sheet industry are applied widely in almost all of the above mentioned industries.
Bilateral partnership between Vietnam and EU (including 28 country members) helps open the doors to markets of both sides, where tax barriers will be lower or eliminated depending on each specific product, making the trade be easier.
For Vietnam economy, the opportunities to export products in agriculture, seafood, textile, healthcare etc. to new and bigger markets will be high. Besides, products made in Vietnam will be more competitive than others.
In addition to that, Vietnam enterprises will be able to approach modern production methods, possessing advanced manufacturing machines to improve its products quality. European countries with advantages of modern machinery, combined with low import tax (tax rate could be 0% or below 10%), Vietnam enterprises can import machines at reasonable prices for investment on machinery and equipment.
How the above benefits impact metal sheet industry in Vietnam?
Metal sheet industry is one type of industrial supporting industries. Metal sheet fabrication produces parts, components or complete products with high precision that serve other industries, especially the manufacturing of machines, tools, transportation vehicles, telecommunication. Those are the strongest of European countries.
More and more companies in Vietnam specialized in metal sheet fabrication have enough capacity and capability to supply to foreign manufacturing enterprises. Before being present in global supply chain for metal sheet fabrication, Vietnam companies have had capability to satisfy demands from domestic demands.
EVFTA always has positive impacts and at the same time poses challenges to Vietnam economy, which include metal sheet fabrication. Whether the metal sheet industry could be successful and developed or not depends on the utilization of benefits and conquering those challenges.`
Smart Vietnam, specialized in metal sheet fabrication, attract more and more attentions from customers in the industry. This is one of typical companies who apply the model of manufacturing with modern and smart technologies.
EVFTA brings to Smart Vietnam a numbers of potential customers. In return, its customers will get the benefits of high quality, reliable and competitive services from Smart Vietnam.
Smart Vietnam has many years experience in conducting projects of from small to large scale in metal sheet fabrication whose customers are from Europe. With tax barriers being lower, professional logistics service, it will be more convenient for Smart Vietnam to export products and build up a famous trademark.
Smart Vietnam is confident of the high quality products qualified to be exported, thanks to the most advanced technologies imported from Trumpf- Germany.