Tony Foster, a lawyer in Hanoi In the 25 years that I have lived in Hanoi, Vietnam has accomplished a feat worthy of Houdini by extricating itself from a web of sanctions and limitations. It deserves an Oscar for becoming everyone’s best friend in the process. Most people arriving in an unmarked, plain white Vietnam Airlines plane in 1994, clearing immigration and driving into Hanoi in a leaking Volga (on the old road via Gia Lam and the Chuong Duong bridge) were hard pressed to picture the potential; most were on postings of a few years, time-servers who often did not even try. I had the good fortune to work for a law firm that was established in 1743 and whose attitudes to anywhere east of Suez in those days retained a residual colonial bent. So I was posted to Vietnam for life, which coincidentally was the term for which many criminals sent to penal colonies like Australia. In such circumstances, one did not focus just on the short-term horizon. We had to believe in … [Read more...] about 1994-2019: Vietnam’s development pointers for North Korea – VnExpress International
Vietnam import policies tariffs and restrictions
Vietnam’s economy grows robustly, but risks intensify
According to Taking Stock, the World Bank’s bi-annual economic report on Vietnam released today, the pace of expansion is forecast to remain at 6.8% this year, higher than the projected figure of 6.3% for emerging markets in the East Asia and the Pacific. Over the medium term, in line with the global trend, Vietnam will see a slower pace – 6.6 and 6.5% in 2019 and 2020, respectively.Inflation will remain muted at 4% as the result of tightening monetary policies. “Despite a challenging global context, Vietnam continues to achieve robust growth accompanied by moderate inflation and a relatively stable exchange rate” said Ousmane Dione, World Bank Country Director for Vietnam. “Policy makers should take advantage of the still favorable growth dynamics to advance structural reforms to enhance private sector driven investment and growth, along with improving efficiency in public sector investment.” Risks to the outlook have intensified and are titled to … [Read more...] about Vietnam’s economy grows robustly, but risks intensify
Vietnam set to trial Direct Corporate Power Purchase Agreement
On June 12 this year, at a seminar on renewable energy, the Electricity Regulatory Authority of Vietnam (ERAV) discussed and disclosed information about such a pilot DPPA. Generally, a DPPA is an agreement between a power generator and a corporate customer in which power is physically delivered and sold to the customer for its operation. ERAV said it is a time-consuming process since it and its consultants had to do research and collect massive amounts of information on fundamental issues, design, details, and criteria for DPPAs, especially for cases such as Vietnam. It is also challenging for ERAV to consult other departments of the Ministry of Investment and Trade for piloting the DPPA. ERAV’s consultants have submitted a first preliminary report on international experience regarding the basic design, mechanism and operation of DPPA. It is known that ERAV and its consultants also sent a questionnaire to several industries, sectors, companies and other stakeholders to seek their … [Read more...] about Vietnam set to trial Direct Corporate Power Purchase Agreement
Imports, domestically assembled cars in battle for market share
Imported CBU (completely built unit) cars are expected to flood Vietnam, as domestic automobile manufacturers prepare to launch new models. Domestic automobile manufacturers plan to launch new models The Ministry of Transport (MOT) has stirred up the market by accepting an Indonesian Vehicle Type Approval (VTA) certificate. Three imported cars from Indonesia arrived last week from March 16-22. Prior to that, a large quantity of Thailand sourced cars were reportedly docked at Vietnam’s ports, ready for delivery after customs clearance. While importers rush to import cars, domestic automobile manufacturers have geared up with their production plans. VinFast, a newcomer in the market, has announced a plan to manufacture two more small-size petrol-run and electricity-run models, scheduled to hit the market in 2019. Hyundai Thanh Cong and Hyundai Group in South Korea have signed an MOU on building a new factory in 2019 which will help increase output for exports. … [Read more...] about Imports, domestically assembled cars in battle for market share
WTO set for fractious meeting as US trade policy grates
The World Trade Organization is set for a cacophonous meeting on Friday when the United States, China and the European Union will be among those airing grievances about each other's trade policies, an agenda for themeeting showed on Tuesday. U.S. President Donald Trump gives out pens he used to sign presidential proclamations placing tariffs on steel and aluminum imports to workers from the steel and aluminum industries at the White House in Washington, U.S. March 8, 2018 - Photo by Reuters The WTO's Council for Trade in Goods listed 15 potential trade conflicts on an unusually full agenda, including three apiece aimed at the United States and China. Earlier on Tuesday, India hosted an informal WTO meeting of nearly 50 countries in New Delhi, where they warned about the serious threat to the WTO from unilateral trade actions, a pointed reference to steel and aluminium tariffs imposed by the United States that have caused a global outcry. The Council's agenda showed China and … [Read more...] about WTO set for fractious meeting as US trade policy grates