Marko Walde Chief representative, German Industry and Commerce Vietnam On behalf of the German Industry and Commerce Vietnam, I think that the CPTPP, as a quite comprehensive agreement, will offer Vietnam not only trade and investment opportunities, but also a chance to modernise and bring its labour law, penal law, anti-corruption law, and the intellectual property rights policy in line with international standards. This will certainly have a positive effect on the ratification of the free trade agreement between the EU and Vietnam. The CPTPP is a high-quality agreement which includes 15 per cent of global trade, as well as more than 13 per cent of the global economy, tantamount to $10 trillion. The agreement will also affect global value chains and is expected to help Vietnam expand exports and join global value chains more deeply. About 66 per cent of tariff lines will be eliminated immediately after the CPTPP takes effect, which will rise to 86.5 per cent three years after the deal … [Read more...] about Bringing Vietnam’s laws up to speed with CPTPP
Human rights law firms
MLMs undeterred by stricter laws
MLM systems are growing even as regulations are becoming more stringent Recently, the dossier of the Lien Ket Viet Company case, a multi-level company masquerading as a firm under the Ministry of Defence, has been sent to the People’s Supreme Court. This company was pretending to be a corporation managed by the Ministry of Defence to do business and conducted illegal activities, such as collecting a fee worth VND8.6 million ($374) from each person who wants to join its system, as well as holding conferences and presentations to disseminate false information. According to local media, Lien Ket Viet leaders always wore military outfits and boasted of relations with military generals, as well as forged documents and governmental merits. Accordingly, the company lured in over 66,000 members and collected VND2 trillion ($87 million). Numerous heads of offices and multi-level agencies will be subject to legal proceedings, with seven defendants being prosecuted and 34 heads … [Read more...] about MLMs undeterred by stricter laws
Cambodian people benefit from CPP’s policies
Cambodian Prime Minister Hun Sen (Source: AFP/VNA) Hanoi (VNA) - Over the past five-tear term of the National Assembly, the Cambodian People’s Party (CPP) has done a lot for the Cambodian people, helping raise public confidence in the upcoming general election. The maintenance of peace, political stability and security has created favourable conditions for Cambodia to continue recording new and greater achievements in socio-economic development and in the improvement of the people’s living standards. Cambodia has emerged from a low-income country into a low-middle income nation, and is on the path towards the high-middle income status by 2030. Such achievements have demonstrated the success in the implementation of the Political Platform and the Rectangular Strategy - Phase 3 during the five-year term of the Government led by Prime Minister Samdech Techo Hun Sen, and proved that they have received public support and trust. This was primarily attributable to … [Read more...] about Cambodian people benefit from CPP’s policies
IP rights protection a must for growth: expert
Viet Nam News Faced with a lack of national brand identity and growing anxiety over intellectual property (IP) rights laws, Việt Nam may soon have to make drastic changes in business practices, ethics and consumption. Việt Nam News reporter Phương Uyên talked to Nguyễn Thị Phi Nga, lawyer, licensed IP attorney and Counsel at Hogan Lovells International LLP, about the country’s future in IP protection and national brand establishment. There seems to be growing concern regarding the fact the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has omitted about 20 IP clauses from its previous iteration, due to the US’s absence. Do you think this might slow the formation of an IP rights culture in Việt Nam? I think the lack of distinct IP related clauses in the CPTPP will not hinder the growth of a national IP culture, due to at least three reasons. Firstly, looking at the Vietnamese Government’s … [Read more...] about IP rights protection a must for growth: expert
PM Phuc receives leading Australian firms
>>> PM welcomes Australian businesses to invest in Vietnam The Vietnamese PM made the statement during his March 16 meeting with the leaders of a number of leading Australian firms in agriculture, rice production, health care, tourism, water treatment, and infrastructure development, including Sunrice, ICON, HunterNet, Sunrice, Veolia, and Webjet. He lauded the cooperation between these companies and their Vietnamese partners, proposing they continue expanding collaboration and help to transfer technology, equipment, and the human resources management and training system to Vietnamese firms, while giving suitable material and technology prices to enhance capacity for Vietnam. The Government leader said he would direct the ministries, sectors and localities concerned to continue working with the companies to discuss suitable cooperation opportunities, support them in finding location for their production facilities and material areas, and supply the appropriate human resources. … [Read more...] about PM Phuc receives leading Australian firms