“Market Opportunities in the Fast Growing Economy
of Vietnam” Key Address by H.E. Mr. Bui Thanh Son, Vice Minister of Foreign Affairs, Vietnam speaking at the Asia Ireland Trade & Investment Summit during Asia Business Week Dublin 2014
H.E. Mr. bui thanh son, Asia Business Week DublinAsia Matters
Key Address by H.E. Mr. Bui Thanh Son, Vice Minister of Foreign Affairs, Vietnam speaking on June 6 at the Fourth EU Asia Top Economist Round Table during Asia Business Week Dublin 2014
FTAs in South-east Asia: Towards the next generation is the second in a series of reports sponsored by HSBC that examines Asian businesses’ attitude towards free trade agreements (FTAs) and usage of their provisions. The report is based in part on the findings of a survey conducted in the first quarter of 2014 that included 400 exporters from four countries in the Association of South-East Asian Nations (ASEAN)—Indonesia, Malaysia, Singapore and Vietnam—representing a range of industries.
Among its key findings, the report examines how the low usage rate of FTAs among ASEAN exporters is connected to the issue that many existing FTAs are “unambitious”—that is, they rarely go beyond simple tariff cutting to address issues such as trade in services, e-commerce, intellectual property rights, customs cooperation and other regulations that hinder trade—which means companies see limited upside in using them.
Consequently many ASEAN businesses have high hopes for the next generation of “mega-regional” pacts now under negotiation, including the Trans-Pacific Partnership (TPP), and the formation of the ASEAN Economic Community in 2015.
The report also finds that the liberalisation of trade in services is crucial to economic growth in the region. As supply chain fragmentation across ASEAN increases, trade becomes increasingly dependent on logistical, legal, financial and other services, which account for an increasingly large proportion of the value of goods shipped across borders. Better access to quality services would also help businesses expand into other markets.
H.E. Mr. bui thanh son, Asia Business Week DublinAsia Matters
Key Address by H.E. Mr. Bui Thanh Son, Vice Minister of Foreign Affairs, Vietnam speaking on June 6 at the Fourth EU Asia Top Economist Round Table during Asia Business Week Dublin 2014
FTAs in South-east Asia: Towards the next generation is the second in a series of reports sponsored by HSBC that examines Asian businesses’ attitude towards free trade agreements (FTAs) and usage of their provisions. The report is based in part on the findings of a survey conducted in the first quarter of 2014 that included 400 exporters from four countries in the Association of South-East Asian Nations (ASEAN)—Indonesia, Malaysia, Singapore and Vietnam—representing a range of industries.
Among its key findings, the report examines how the low usage rate of FTAs among ASEAN exporters is connected to the issue that many existing FTAs are “unambitious”—that is, they rarely go beyond simple tariff cutting to address issues such as trade in services, e-commerce, intellectual property rights, customs cooperation and other regulations that hinder trade—which means companies see limited upside in using them.
Consequently many ASEAN businesses have high hopes for the next generation of “mega-regional” pacts now under negotiation, including the Trans-Pacific Partnership (TPP), and the formation of the ASEAN Economic Community in 2015.
The report also finds that the liberalisation of trade in services is crucial to economic growth in the region. As supply chain fragmentation across ASEAN increases, trade becomes increasingly dependent on logistical, legal, financial and other services, which account for an increasingly large proportion of the value of goods shipped across borders. Better access to quality services would also help businesses expand into other markets.
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It is a full presentation about the economy of the Southeast Asia.
Acknowledgement : this presentation stems from two parts, firstly, it's my own made presentaion from collecting data from many sources such as world bank, UN statistics, and ADB. Also, it's conglomeration of many slide presentation, especially, about the financial situation in region from many academicians. It is my grateful to say Thanks for all of the presentation.
Thomson Reuters, Islamic Research and Training Institute (IRTI), General Council for Islamic Banks and Financial Institutions (CIBAFI), bring you the Tunisia Islamic Finance Country Report ('Report') which provides substantive due diligence on the opportunities for Islamic financial services in the North African country.
The report is available for free download on https://www.zawya.com/middle-east/landinglead/tunisia/
Princes, Ambassadors and the Future of Southeast Asia: ASEAN, 2015 and Free T...Edelman Indonesia
The politics of the time was wonderfully complex – the Chinese community in Sarawak rejected Sarawak’s incorporation into Malaya after Sarawak’s improbable and originally British ‘white Rajahs’ ceded their nominally independent Kingdom to the His Britannic Majesty in just 1946 – while, in parallel, Communism seemed on the rise across Southeast Asia. Writing as a Brit myself, I am also aware that almost exactly forty years ago, in Jakarta, the Indonesians burned down our embassy; largely in protest at Britain’s corralling a hotchpot of British Imperial possessions in Southeast Asia to become the Malay Federation.
About the establishment, ASEAN Economic Community (AEC), free trade agreement and positive as well as negative impact of ASEAN in International Business viewpoints.
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Recognize the signs of the Fax Apocalypse – prepare now for Cloud Faxing
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Presentation by Ong Keng Yong, Ambassador-at-Large, Singapore
“Looking Towards ASEAN community 2015: Constraints, Obstacles and Opportunities” seminar on 21 April 2011 at Chulalongkorn University
It is a full presentation about the economy of the Southeast Asia.
Acknowledgement : this presentation stems from two parts, firstly, it's my own made presentaion from collecting data from many sources such as world bank, UN statistics, and ADB. Also, it's conglomeration of many slide presentation, especially, about the financial situation in region from many academicians. It is my grateful to say Thanks for all of the presentation.
Thomson Reuters, Islamic Research and Training Institute (IRTI), General Council for Islamic Banks and Financial Institutions (CIBAFI), bring you the Tunisia Islamic Finance Country Report ('Report') which provides substantive due diligence on the opportunities for Islamic financial services in the North African country.
The report is available for free download on https://www.zawya.com/middle-east/landinglead/tunisia/
Princes, Ambassadors and the Future of Southeast Asia: ASEAN, 2015 and Free T...Edelman Indonesia
The politics of the time was wonderfully complex – the Chinese community in Sarawak rejected Sarawak’s incorporation into Malaya after Sarawak’s improbable and originally British ‘white Rajahs’ ceded their nominally independent Kingdom to the His Britannic Majesty in just 1946 – while, in parallel, Communism seemed on the rise across Southeast Asia. Writing as a Brit myself, I am also aware that almost exactly forty years ago, in Jakarta, the Indonesians burned down our embassy; largely in protest at Britain’s corralling a hotchpot of British Imperial possessions in Southeast Asia to become the Malay Federation.
About the establishment, ASEAN Economic Community (AEC), free trade agreement and positive as well as negative impact of ASEAN in International Business viewpoints.
By Swikar Dahal
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"Education: a Case Study in Successful Partnerships" Prof. David FitzPatrick, Provost, Beijing-Dublin International School, University College Dublin (UCD) speaking on 4 June at Dublin Beijing Business Summit during Asia Business Week Dublin 2014
Recognize the signs of the Fax Apocalypse – prepare now for Cloud Faxing
There’s a global epidemic of businesses using dated fax technologies, resulting in waste, frustrated workers, compliance risks, and an all-out proliferation of angry fax zombies. This epidemic has rendered employees ineffective and into zombie-like states - having been forced to deal with inefficient fax processes, paper jams, telco lines, long distance fees, and ever changing fax numbers and busy signals.
The Survival Guide also gives you a roadmap for preparation and survival of this global epidemic - because you may be humanity’s last hope against the coming fax apocalypse – and you may be able to save others with your newfound survival skills.
"Where Agri Meets Tech, Driving Research to Market" Ultan O’Raghallaigh Asia Matters
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On the morning of October 16, at the Government Headquarters, the Prime Minister's Conference with the business community with foreign investment in Vietnam (FDI) with the theme "Accompanying and developing" was held. Prime Minister Pham Minh Chinh chaired the Conference.This is the next activity after the Conference "The Prime Minister meets foreign investors" held in April 2023, affirming the consistent policies and guidelines of the Party and State of Vietnam towards foreign investment sector; demonstrates the Government's concern and companionship with the business community and foreign investors
Madam Speaker
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H.E. Mr. bui thanh son, Asia Business Week Dublin
1. ASIA BUSINESS WEEK DUBLIN!
Asia Ireland Trade and Investment Summit!
5 June 2014!
Market Opportunities in the Fast Growing Economy of
Vietnam!
H.E. Bui Thanh Son, !
Deputy Foreign Minister of Vietnam ! !!
2. 1
Remarks
By Vietnamese Deputy Foreign Minister Bui Thanh Son
At Asia-Ireland Trade and Investment Summit
Market opportunities in the fast growing economy of Viet Nam
(Masion House, Dublin, 5th
June 2014)
Ladies and gentlemen,
It gives me great pleasure to attend the Asia-Ireland Trade and
Investment Summit held in the beautiful city of Dublin. I highly value
the efforts by the Asia Matters, the city of Dublin and Dublin Institute of
Technology in organizing this meaningful event. The presence of a large
number of enterprises, officials, experts and scholars from Ireland and
Asia at this Summit demonstrates your great interest in investment and
business opportunities between Ireland and Asia.
I would like to commend the previous speakers on their interesting
remarks about opportunities for trade and investment cooperation in
Asia. In my view, all the observations made are quite relevant, yet
insufficient. For Asia, a vast continent of great diversity and multi-
layered economic linkages, is home to many nations, each of them
possesses unique characteristics and comparative advantages. Given
that, allow me to spend a few minutes to introduce to you the
opportunities for business and investment in Viet Nam, a promising
destination for Irish businesses.
Ladies and gentlemen,
Over the past 30 years since the adoption of the open-door and renewal
policy, Viet Nam has recorded significant achievements in socio-
economic development. With an average growth rate of 7.5% per annum
3. 2
within 1991-2010, Viet Nam has become a middle-income country. As
of 2013, real GDP per capita in Viet Nam reached approximately
US$1,900. In addition to pursuing the economic goals, we attach great
importance to maintaining social security and social equality. We have
achieved ahead of schedule many Millennium Development Goals of the
United Nations, including those in poverty reduction, gender equality,
universal education and healthcare.
Even during the period when our economy was hurt by the global
financial crisis and economic downturn, Viet Nam managed to maintain
a stable growth rate of 5.6% in 2011-2013. It is expected that our GDP
growth rate in 2014 will be 5.8-6%. The Vietnamese economy has
witnessed positive changes in the recent quarters in all areas, including
continuous GDP growth, macro-economic stability, and inflation curbed
at low level. In the area of information and communication, Viet Nam is
ranked the 3rd
in South East Asia and the 8th
in Asia with over 31 million
internet users, accounting for 34% of the population.
For nearly a decade now, Viet Nam has been considered one of the most
attractive destinations for FDI in the region. By April 2014, there have
been 16,300 FDI projects with total registered capital of US$238 billion,
a big increase compared to the US$40 billion FDI recorded ten years
ago. Most noticeably, Viet Nam’s Purchasing Managers’ Index (PMI)
reached the record-high of 53.1 points in April 2014 – the highest level
since the first survey conducted in April 2011. This showcases the
business confidence in Viet Nam’s economic prospects.
Ladies and gentlemen,
I am here today not only to tell you about our success stories, but to
share and discuss with you in detail the prospects of the Vietnamese
economy. I hope that you will see in Viet Nam a friendly country willing
to transform itself to create momentums for sustainable development and
national resilience.
Amid the daunting challenges facing the economy such as unsustainable
growth, low productivity and competitiveness, and weak infrastructure,
4. 3
we are aware that the future and the growth momentums of Viet Nam
will lie in the reforms and breakthroughs undertaken within the country
as well as the extensive international integration process that Viet Nam
is pursuing.
I’d like to begin with the first momentum: domestic reforms.
Viet Nam is entering a period of deepened transformation and economic
restructuring, in which the endogenous resources are closely linked with
the external conditions.
In the short run, Viet Nam is undertaking three types of restructuring,
i.e. (i) banking system restructuring, (ii) public investment restructuring,
(iii) state-owned enterprises restructuring. Together with social policies
implementation, these restructurings will serve as the foundation to
ensure macroeconomic stability and improve national resilience to
economic shocks which every country should be cautious of, particularly
in the post-crisis phase. We are revising the Investment Law to create
more liberal investment climate and simplify investment licensing
procedures. The proposed amendments will soon be submitted to the
National Assembly for approval.
In the medium and long run, Viet Nam is undertaking three strategic
breakthroughs i.e. (i) completing the market-economy institutions; (ii)
modernizing the infrastructure; and (iii) developing the human
resources. Along with this process, we are accelerating the reform and
equitization of state-owned enterprises (SOEs). It is our goal to complete
equitization of 432 SOEs by 2015.
The reform efforts as such will create a driver for Viet Nam to achieve
sustainable development, build a competitive, socially-responsible and
environmental-friendly economy while creating opportunities for
strategic investors with financial capability and governance capacity.
It is encouraging to see such reforms receive the enthusiastic
endorsement and engagement of the business community, domestic and
international investors. Viet Nam considers foreign businesses and
5. 4
investors an inseparable part of its economy. Therefore, it is essential
that the reform efforts must produce more favorable conditions for them.
The second growth momentum of Viet Nam lies in its international
integration process.
We are living in globalized world where cooperation and multi-layered
economic linkages present significant development opportunities for all
nations. Apart from the efforts to fulfill the WTO commitments and
complete the Roadmap for ASEAN Economic Community (AEC), Viet
Nam, as a dynamic and fast growing economy, is taking part FTA
negotiations with most of the world’s leading economic centers,
including the Free Trade Agreement with the EU, the Trans-Pacific
Partnership (TPP), Regional Comprehensive Economic Partnership
(RCEP) and others.
With the prospect of finalizing 14 FTAs in 2015-2020, Viet Nam will
become an important chain of the wide network of economic linkages
involving 55 partners including 15 members of G20. These are the basic
foundations for Viet Nam to deepen its regional and international
integration, capitalize on the huge external resources for national
development, accelerate economic restructuring, and deepen its
participation in the global value chains.
With such prospect, Viet Nam is not only a potential market with 90
million people but also a gateway to access the vast market of ASEAN
with 600 million people, a GDP of US$2.31 trillion (ranked the 9th
in the
world in terms of scale) and the fastest growing economies in the world.
Ladies and Gentlemen,
The bilateral trade and investment between Ireland and Viet Nam remain
modest. Our two-way trade only stood at over US$1 billion in 2013.
Ireland currently has 6 investment projects in Viet Nam with the total
registered capital of US$6.25 million, ranking the 69th
of 101 countries
and territories investing in Viet Nam. Nevertheless, I believe that
building on the inherent friendship and traditional relations between the
6. 5
two countries, our economic, trade and investment ties will take off in
the near future.
I believe that the relationship between Viet Nam and Ireland is not just a
one-sided relationship, for both countries possess many strengths that
are complementary. As the first country in the Euro zone escaping the
public debt crisis, Ireland has quickly returned to the growth orbit with
sky-rocketed increase in export value, and has proven itself to be a
promising partner with world-class technology and governance
capability. The strengths of Ireland lie in energy, agricultural exports,
dairy and pharmaceutical products. These are also the items for which
Viet Nam has demand. Besides, Viet Nam wishes to absorb from Ireland
its advanced technology and expand cooperation with Ireland in human
resources training and pharmacy.
I am sure Irish businesses will find in Viet Nam reliable partners who
are willing to cooperate with you under various forms such as in joint
ventures, business partnership, tri-partite cooperation or Public Private
Partnership (PPP). The Vietnamese Government will create every
favorable condition for Irish businesses to trade with Viet Nam, and do
business and invest in our country, for we believe your success is also
our success.
Under the Asia-Europe cooperation framework (ASEM), I do hope that
Viet Nam and Ireland will increase exchanges and contacts, actively
coordinate in the negotiation of the EU – Viet Nam Free Trade
Agreement (EVFTA) and in successfully organizing the 14th ASEM
Workshop on Human Rights under the theme: “Businesses and Human
Rights”.
Ladies and Gentlemen,
Cooperation and integration represent an irreversible trend, which
emerged from the burning desire of all countries and peoples to live in
peace, stability and development. It is incumbent upon all of us present
here today to fulfill that desire.
7. 6
I believe that the exchanges and meetings under the framework of this
Summit as well as the activities within the Asia Business Week are
practical actions that help enhance mutual understanding and create
opportunities for cooperation and linkages between Irish and Asian
businesses, including Vietnamese ones. And that is an active way to
promote the common peace, stability and prosperity.
On our part, Viet Nam will work closely with Ireland in promoting Asia-
Europe cooperation (ASEM); preparing well for the 10th
ASEM Summit
in Milan in October 2014 with a view to add substance and efficiency to
ASEM dialogue and cooperation. We are fully committed to create the
most favorable and healthy environment for the operation of foreign
businesses and investors in Viet Nam.
I would like to conclude by wishing the Summit every success. I wish
you all good health, happiness and success.
Thank you./.