Business / Trade in Vietnam
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UNITED STATES, 2017/07/10
Vietnamese Prime Minister Nguyen Xuan Phuc’s White Home visit on 31 May has set an ambitious schedule for Vietnam–US relations. The conference was in the spotlight due to the uncertainty surrounding the Trump government’s policy toward the Asia Pacific and the political chaos in Washington. Thirteen commercial contracts worth US$8 billion were announced, bringing in ‘jobs for the United States and great, great equipment for Vietnam’. But the majority significant document released was a joint statement that has mapped out the schedule for US–Vietnam relations and the Trump government’s policy in the region.
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BRUNEI , 2017/06/27
The next of trade and cross border commerce in Asia and the Pacific and the US role in Asia’s economy were put in doubt by Donald Trump’s withdrawal of the United States from the Trans-Pacific Partnership (TPP) economic agreement.
The TPP was the economic arm of President Obama’s pivot to Asia. It was as well supposed to set the rules and standards of trade in Asia and for the world. It is no amaze again, that some of the remaining 11 members of the TPP are trying to save the agreement even without US participation. A lot of political capital was expended in negotiating the TPP and nations are looking for ways to maintain the momentum of economic integration.
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VIETNAM, 2015/12/27
Vietnam could emerge as the single-biggest winner from the recently signed Trans-Pacific Partnership (TPP) trade agreement, according to ratings agency Fitch, with the potential for a significant increase in investment inflows and export opportunities.
Signed on October 5 and expected approaching into force at the end of 2017, the TPP will bring Vietnam, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and the US together into the world’s major trade bloc, creating a market of 800m people that accounts for 40% of world output.
“Of the 12 nations that are party to the TPP, models suggest that Vietnam would see the biggest benefits in terms of economic impact,” Fitch said in a statement issued in mid-October. “The free trade elements of the TPP will lower tariff barriers, giving Vietnam better access to large consumer markets in the US, Japan, Canada and Australia.”
The other members of the TPP accounted for nearly 40% of Vietnam’s exports and 23% of its imports last year, according to local media reports, with a study by the US-based East-West Centre estimating that the lowering of trade barriers could see the country’s outward trade volumes increase by up to 37% over a 10-year period, while as well reducing the cost of imports.
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JAPAN, 2015/11/09
The transaction was struck last month next five years of tense negotiations, but continues to face fierce opposition. It as well must still be ratified by lawmakers in each member country and some of the nations involved need it to undergo a legal review. The full text is about 6,000 pages long. Critics argue the transaction is biased towards corporations, and does not cover climate change concerns, part other issues.
The long-awaited text of the landmark trade transaction called the Trans-Pacific Partnership (TPP) has been released to the public for the initial time. The text still has to be translated into the languages of the signatories. The TPP is one of the world's most extensive trade agreements, bringing together 12 Pacific rim nations, inclunding the US and Japan.
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BRUNEI , 2015/09/30
Welcoming the commencement of regional integrated economy society of ASEAN Economic Community ( AEC) regime slated for later this year, an initiative to foster production capacity cooperation between ASEAN and China was sought to further expand economy and trade ties between the two economies.
The thought to further explore the cooperation was highlighted in a high level forum discussing next relations of AEC and China in production capacity cooperation held here on Friday, attended by senior figures and stakeholders of the two economies.
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AZERBAIJAN, 2015/05/09
The Azerbaijani-Vietnamese business forum will be held as part of the visit of a delegation headed by President of Vietnam Truong Tan Sang to Baku on May 14, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said.
The representatives of about 40 Vietnamese companies will attend the forum organized by the Economy and Industry Ministry of Azerbaijan.
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VIETNAM, 2013/10/28
In 1988, a year before the Soviet Union collapsed, the 13th National Congress of the Communist Party of Vietnam adopted a resolution to have ‘additional friends and fewer enemies’. So it was not surprising at the same time as Vietnam expressed interest in joining ASEAN as early as 1992, or at the same time as it did in fact join in July 1995.
Singapore
Joining ASEAN had crucial social, political, economic and security implications for Vietnam. Vietnam’s membership of the grouping integrated its security with the whole of Southeast Asia and created a favourable environment for economic development. This, in turn, raised Vietnam’s world image, leading to increased cooperation with multiple players in the region and better bargaining clout with super powers like the United States and China.
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VIETNAM, 2012/12/11
Extra than 15,460 small and medium-sized enterprises (SMEs) have gone bankrupt since the beginning of 2012 according to the Ministry of Industry and Trade’s (MoIT) new statistics.
In an interview granted to a VOV reporter, Dr Cao Sy Kiem,Chair of the Vietnam SMEs Association, said that SMEs can only ultimately blame devolvement on themselves. To prevent bankruptcy, they must seize each available opportunity to alleviate their difficulties and not only rely on receiving National subsidies.
