VieamNet Bridge - Vietnam is expected to be seriously affected if US policy restricts imports from China to protect domestic production. Donald Trump, who won the election to become the 45th US President, is well known for his protectionist policy. Trump suggested applying import tariffs of up to 45 percent on products from China, 35 percent from Mexico and 15-45 percent on products from countries with signs of currency manipulation. Though Trump has only mentioned re-negotiation of trade terms with Mexico and China, analysts warned that protectionism would also be applied to other trade partners with which the US has a trade deficit, including Vietnam. The US was the biggest export market for Vietnam in the first nine months of the year; it consumed $28.3 billion worth of products. The US is the biggest consumer of Vietnam’s textiles & garments ($8.6 billion), footwear ($3.3 billion), phones ($3.1 billion) and computers & electronics ($2.1 … [Read more...] about Will Vietnam be affected if Trump restricts imports from China?
Vietnam import policies tariffs and restrictions
Vietnam would be the main beneficiary of the EU-Vietnam Free Trade Agreement with its exports and wagesincreasing and itsbusiness climate improving, experts said at a seminar in Ho Chi Minh City Wednesday. Vietnam and its largest importer and investor, the European Union, began negotiations for a comprehensive free trade agreement in June 2012, and the deal is expected to be concluded in September. Truong Dinh Tuyen, former trade minister and now the key EU-MUTRAP [European Trade Policy and Investment Support Project] expert, said that under the FTA, WTO commitments on trade in goods and services would be strengthened. Areas not touched by WTO commitments, like investments, government procurement, state-owned enterprises and competition policy, sustainable development, and renewable energy would be affected by the FTA. Claudio Dordi, technical assistance team leader of EU-MUTRAP, said when the agreement takes effect, tariff reductions alone would increase Vietnam’s exports to … [Read more...] about Free trade deal with EU a boost for Vietnam economy: experts
Investment for Corporate Branding and Advertising To expand domestic and export markets and create added value for products, Vietnam must develop some strong and highly competitive brands. However, branding investment requires concerted effort from companies and overall approach to respond to diverse and changing demands of the market, coupled with reasonable State policies to facilitate businesses to bring products to domestic and foreign consumers. Aimed to deploy some national brands with a new approach, respond to the Government's proposals and continue to ask the National Assembly to lift the cap on advertising costs at the National Assembly’s meeting in November 2014, the Vietnam Chamber of Commerce and Industry (VCCI) recently collaborated with the Association of Vietnam Retailers (AVR), under the sponsorship of Vietnam Prosperity Bank (VPBank) to organise a seminar entitled “ Investing in branding and spending on advertisement for enterprises” in Hanoi. … [Read more...] about Investment for Corporate Branding and Advertising
Vietnam, whose low-wage economy relies on exports, is likely to be the biggest winner of the Trans-Pacific Partnership that slashes an estimated 18,000 tariffs among the dozen participating countries. In a decade, the country’s gross domestic product will be boosted 11 percent, or $36 billion, as a result of the world’s largest trade pact. Exports may soar 28 percent in the period as companies move factories to the Southeast Asian country. Here’s what analysts and economists say about Vietnam’s economic prospects and challenges under the deal. How is Vietnam an important player in the accord? Vietnam is a significant player in President Barack Obama’s pivot to Asia. The economic and political relationship between the former enemies is now at its warmest, 40 years since the end of the war. Vietnam’s relationship with China, it’s largest trading partner, has been strained since its neighbor moved an oil rig off Vietnam’s coast last year. … [Read more...] about The biggest winner from TPP trade deal may be Vietnam
Time for Vietnam Construction Firms to Eye Global The Vietnamese construction industry set an average annual growth of 9-14 percent in the 2014 - 2020 period. Construction firms are enhancing their competitiveness and gradually dominating the local market. However, according to experts at the Workshop on “Vietnam construction industry - Opportunities and challenges in ASEAN Economic Community,” this goal will be hard to meet, especially when the domestic construction industry is about to face very fierce competition when the ASEAN Economic Community (AEC) is officially formed by the end of 2015. The event was co-organised by the Vietnam Chamber of Commerce and Industry - Ho Chi Minh City Branch (VCCI - HCM) and the Vietnam Association of Construction Contractors (VACC). Remarking on challenges facing the Vietnamese construction industry, Dr Pham Van Chat, Arbitrator at the Vietnam International Arbitration Centre (VIAC), said competitiveness for domestic construction … [Read more...] about Time for Vietnam Construction Firms to Eye Global