VIETNAM – IMPLEMENTATION OF EU-VIETNAM FREE TRADE AGREEMENT (EVFTA) – Dr. Oliver Massmann from Duane Morris named Lead Advisor

Dear all,

We are pleased to inform that the European Commission and the EU Trade Delegation in Vietnam has selected as the lead advisor Dr. Oliver Massmann and his team to advise and assist in a project to support the implementation of the EU – Vietnam Free Trade Agreement (“EVFTA”), one of the most important Free Trade Agreements for Vietnam. The Agreement is anticipated to bring significant advantages for enterprises, employees and consumers in both the European Union (“EU”) and Vietnam. According to analysis carried out by the Government as well as the World Bank, Vietnam expects an increase in the country’s GDP to be 2,18 – 3,25% (years 2020 – 2023); 4,57 – 5,30% (years 2024 – 2028) and 7,07 – 7,72% (years 2029 – 2033). In addition, with the possibility of skilled laborers’ wage to rise by up to 12%, with salaries of common workers increasing by 13%, the Agreement can help lift around 800,000 people out of poverty by 2030. After the entry into force of the Agreement on 01 August 2020, and once Government policies and institutional reforms begin to take effect, Vietnam’s business activities will boom.

Sincerely,
Dr. Oliver Massmann

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Please do not hesitate to contact the author Dr. Oliver Massmann under omassmann@duanemorris.com. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC, Member to the Supervisory Board of PetroVietnam Insurance JSC and the only foreign lawyer presenting in Vietnamese language to members of the NATIONAL ASSEMBLY OF VIETNAM.