The country's textile, garment and footwear industries have long relied on imported raw materials, causing a current trend of foreign enterprises shifting industries to other countries, said insiders.

More and more Italian textile firms are investing in Vietnam to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and export to the European market, experts said.

With tax barriers for less sensitive commodities being lifted within no later than three years since the adoption of EVFTA, Vietnam’s garment and footwear industries are predicted to be beneficial.

Cambodian Prime Minister Hun Sen affirmed that the country remains stable after the dissolution of the opposition Cambodia National Rescue Party (CNRP) in accordance with the Supreme Court’s order.