Impact of EU’s CBAM on Vietnam’s Industry: Challenges and Strategies

• EU’s Carbon Border Adjustment Mechanism (CBAM) will impact Vietnamese exporters in steel, cement, aluminium, and fertiliser sectors
• CBAM aims to equalize carbon prices for foreign products with those produced in the EU
• Transitional period for CBAM started on October 1, 2023 and will end on December 31, 2025
• Vietnamese exporters must comply with reporting requirements and acquire CBAM certificates
• CBAM will increase costs and reduce profitability for Vietnamese exporters
• Strategic planning and active engagement in policy development are crucial for maintaining competitiveness in the global market

Source: dentonsluatviet.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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