VieamNet Bridge - Vietnam is expected to be seriously affected if US policy restricts imports from China to protect domestic production. 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 billion). According to Bao Viet Securities, Vietnam has been maintaining a trade surplus with the US since 2006. In 2015, the trade surplus … [Read more...] about Will Vietnam be affected if Trump restricts imports from China?
Vietnam import policies tariffs and restrictions
CPV: Along with many activities to prepare for the 14th APEC summit to be hosted by Vietnam in November 2006, Vietnam has reviewed the six years since its joining of the Asia-Pacific Economic Co-operation. The Website of the Communist Party of Vietnam would like to introduce some details about APEC and Vietnam-APEC co-operation during that time. About APEC The Asia-Pacific Economic Co-operation, or APEC, is the premier forum for facilitating economic growth, co-operation, trade and investment in the Asia-Pacific region. APEC is the only inter governmental group in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC requires no treaty obligations of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis. APEC has 21 members - referred to as "Member Economies" which account for more than a … [Read more...] about Toward the year of APEC-Vietnam 2006
CPV: The private economic sector, mainly small and medium size enterprises (SMEs), is acknowledged as the driving force of economic growth in Vietnam, according to the master plan to develop SMEs in 2006-2010 by the Ministry of Planning and Investment (MPI). Based on the master plan, the MPI will produce an action plan to develop SMEs, including programmes and measures to support such enterprises. The contribution of SMEs The process of economic reform in Vietnam during the last few years has directly resulted in growth of SMEs and has promoted the comprehensive development and diversification of trade, organizations and business areas. According to statistics by the MPI, since the Enterprise Law took effect in early 2000, the number of enterprises formed in 2002-2003 was twice that of the figure for the previous ten years. By late 2003, Vietnam had around 128,000 enterprises. Most of those established since 2000 were SMEs. At present in Vietnam, SMEs exist and are developing in all … [Read more...] about Vietnam to develop small and medium size enterprises
Source: VnExpress.net (CPV)- The Vietnam Business Forum met at the end of May in Hanoi to discuss long-term measures that will ensure a path of sustainable and equitable economic growth. With the new five-year political cycle about to begin, it is critical that the government and business community formulate a practical strategy for Vietnam to achieve its ambition of becoming a leading Asian economy. While forum participants welcome the government's recent efforts in stabilizing the macro economy, they also stressed the need to look beyond short-term solutions to shift policies from administrative measures to market driven ones that promote market efficiency. The government should use the current economic environment as a stimulus for tough structural reform that will make the economy more competitive, market-oriented and efficient. The government's strong commitment to controlling inflation and reforming state-owned enterprises will help restore investor and business confidence and … [Read more...] about Government and business community formulate a practical strategy for Vietnam to become a leading Asian economy
(VEN) - The Russian market offers major business opportunities. However, obstacles exist as a result of the insufficient legal system, complicated procedures and fierce competition. The General Department of Customs said that Russia had been Vietnam's fastest growing export market in the last three years, with revenues increasing by an average of 62 percent per year. Vietnam sold more than US$1.2 billion worth of goods to this market in the first eight months of this year, a 25.17 percent increase from a year ago. Russia became the 156th member of the World Trade Organization (WTO) in 2012. For this reason, several Vietnamese exports to Russia will pay 30-50 percent less tariffs in the near future following Russia's commitment. The governments of Vietnam and Russia are promoting negotiations on a Free Trade Agreement (FTA) between Vietnam and the Russia-Belarus-Kazakhstan Alliance. After the agreement takes effect, tariffs on Vietnamese exports to Russia will be exempted absolutely or … [Read more...] about Opportunities and obstacles in Russian market