Vietnam must have really strong local enterprises to have a self-reliant economy. This poses an urgent need, that is the attraction and use of FDI in the next phase must bring about qualitative efficiency, meaning that the value of the production chain in Vietnam must belong to Vietnamese enterprises. Meanwhile, the private sector currently has a dominant presence in the economy, with some 800,000 enterprises operational as of October 2020, but over 95% of them are micro, small and medium busiensses. Therefore, the concentration of all resources available (capital, including land, high-quality manpower, incentives and so on) to develop the private sector economy is an urgent need for FDI attraction in the next phase. If private enterprises remain micro, small and medium, lack capital and technology, and still face administrative troubles, Vietnam will not have sufficient enterprises big and strong enough to be able to ally and partner with foreign enterprises so as to master each area … [Read more...] about Private sector development to enhance FDI efficiency
Important contract law cases
Vietnam steps up measures to protect guest workers abroad
Hai Phong (VNS/VNA) — Vietnamese authorities have improved the legal framework, stepped up communication measures and promoted international co-operation to ensure labourers enjoy better rights when working abroad under contracts, a conference has heard.Vietnamese labourers abroad.guest workers abroad in specific has been among the important policies of the government, Major General Nguyen Van Ky, deputy chief of the human rights office, said at the conference.Human trafficking crimes via labour migration is still a pressing issue in Vietnam. According to Colonel Cao Quoc Viet from the Criminal Police Department under the Ministry of Public Security, the victims, mostly from vulnerable groups in the rural and mountainous areas, are trafficked for sex, labour and their body parts, among other reasons. … [Read more...] about Vietnam steps up measures to protect guest workers abroad
US won’t impose tariffs or sanctions on Vietnam’s exports
The ministry informed the press that the USTR’s report provided comprehensive information regarding the case, including the reasons for and purposes of the investigation. The report did not mention or recommend imposing tariffs or any sanctions on Vietnam’s exports, the ministry said, noting that the efforts made at all levels, from Government leaders to officials of ministries, sectors, agencies, associations and businesses of both Vietnam and the US have brought about positive outcomes. The ministry, as chair of the Vietnam section in the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council and the agency authorised to work with the US in handling the case, welcomed the conclusion of the USTR’s report. The USTR’s decision has a positive meaning for bilateral trade, Vietnam’s business and investment environment and co-operation between the two countries, the Ministry of Industry and Trade said. According to the ministry, immediately … [Read more...] about US won’t impose tariffs or sanctions on Vietnam’s exports
Party Central Committee approves lists of candidates for 13th tenure
“The Party’s officials, members and the people care so much about this event and put a lot of hopes and expectations in it. I urge you all to continue to work together with high determination and responsibility to make it happen and do it well,” he said. … [Read more...] about Party Central Committee approves lists of candidates for 13th tenure
Australian Open to plough ahead despite players’ quarantine anger
MELBOURNE -- Australian Open tournament director Craig Tiley has confirmed the year’s first Grand Slam will go ahead from Feb. 8 despite anger from players forced into hard quarantine in Melbourne due to positive COVID-19 cases on their charter planes. … [Read more...] about Australian Open to plough ahead despite players’ quarantine anger
