The document discusses the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) agreement and its implications for Vietnam. It notes that CPTPP will provide Vietnam access to new markets like Canada, Mexico, and Peru, and opportunities in sectors like textiles, food, and chemicals. It also discusses challenges like competition and the need to strengthen domestic industries. Overall, CPTPP is expected to boost Vietnam's GDP by 1.32% and offers incentives for reforms to attract more foreign investment.
THE ASEAN ECONOMIC COMMUNITY AND THE COMPREHENSIVE AND PROGRESSIVE TRANS-PACI...Dr. Oliver Massmann
THE ASEAN ECONOMIC COMMUNITY AND THE COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP? Market access comparison – What is in for German investors?
Agreement on Textiles and Clothing (ATC) And Its Impact on Bangladesh Textile...Feroza Khatun
The document discusses the Agreement on Textiles and Clothing (ATC) which phased out quotas on textile and clothing exports from developing countries over 10 years ending in 2005. It led Bangladesh's textile and clothing industry to grow significantly as its exports faced fewer restrictions. The impact included both gains like more efficient global production and losses as countries like Bangladesh lost quota rents. The termination of quotas in 2005 removed a barrier for Bangladesh's industry but also increased competition as other countries faced fewer restrictions as well.
The document provides background information on the ASEAN-China Free Trade Agreement (ACFTA), the largest free trade agreement in the world. It discusses key details of the agreement such as tariff reductions, rules of origin, sensitive goods lists, and the dispute settlement mechanism. The document is intended to help businesses understand how to qualify for tariff preferences under the agreement and leverage the new market access opportunities between ASEAN countries and China.
Lawyer in Vietnam Dr. Oliver Massmann - How can European businesses benefit f...Dr. Oliver Massmann
The document discusses the EU-Vietnam Free Trade Agreement (EVFTA) and its impact on EU-Vietnam trade relations. It provides an overview of Vietnam's economy, details of the EVFTA including coverage, opportunities and challenges for certain sectors, and comparisons of market access commitments in the WTO, ASEAN Economic Community (AEC), and EVFTA. The EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 10 years and facilitate greater trade and investment flows. Vietnam's economy has grown significantly in recent years and the EVFTA could support continued growth and integration into global markets.
VIETNAMESE MARKET ANALYSIS Practical and Legal PerspectiveDr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC providing an overview of investing in Vietnam. It discusses why Vietnam is an attractive investment destination due to its strong economic growth rates and integration into regional and international trade agreements. Several key points are made about Vietnam's economy in 2015, its transition from a rice importer to exporter, and projected growth rates. The benefits of trade agreements such as the ASEAN Economic Community, EU-Vietnam Free Trade Agreement, and Trans-Pacific Partnership for Vietnam and foreign investors are also summarized.
Role of World Trade Organization in fisheriesANIKETGIRI7
The document discusses the role of the World Trade Organization (WTO) in regulating international fisheries trade. It covers several key topics:
1) The functions of the WTO in facilitating trade agreements and dispute resolution between member countries.
2) How fisheries subsidies impact overfishing and the environment. WTO negotiations aim to set rules limiting subsidies that contribute to overcapacity and overfishing.
3) Issues in international seafood trade such as food safety standards and anti-dumping measures are governed by WTO agreements on sanitary measures, subsidies, and anti-dumping.
THE ASEAN ECONOMIC COMMUNITY AND THE COMPREHENSIVE AND PROGRESSIVE TRANS-PACI...Dr. Oliver Massmann
THE ASEAN ECONOMIC COMMUNITY AND THE COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP? Market access comparison – What is in for German investors?
Agreement on Textiles and Clothing (ATC) And Its Impact on Bangladesh Textile...Feroza Khatun
The document discusses the Agreement on Textiles and Clothing (ATC) which phased out quotas on textile and clothing exports from developing countries over 10 years ending in 2005. It led Bangladesh's textile and clothing industry to grow significantly as its exports faced fewer restrictions. The impact included both gains like more efficient global production and losses as countries like Bangladesh lost quota rents. The termination of quotas in 2005 removed a barrier for Bangladesh's industry but also increased competition as other countries faced fewer restrictions as well.
The document provides background information on the ASEAN-China Free Trade Agreement (ACFTA), the largest free trade agreement in the world. It discusses key details of the agreement such as tariff reductions, rules of origin, sensitive goods lists, and the dispute settlement mechanism. The document is intended to help businesses understand how to qualify for tariff preferences under the agreement and leverage the new market access opportunities between ASEAN countries and China.
Lawyer in Vietnam Dr. Oliver Massmann - How can European businesses benefit f...Dr. Oliver Massmann
The document discusses the EU-Vietnam Free Trade Agreement (EVFTA) and its impact on EU-Vietnam trade relations. It provides an overview of Vietnam's economy, details of the EVFTA including coverage, opportunities and challenges for certain sectors, and comparisons of market access commitments in the WTO, ASEAN Economic Community (AEC), and EVFTA. The EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 10 years and facilitate greater trade and investment flows. Vietnam's economy has grown significantly in recent years and the EVFTA could support continued growth and integration into global markets.
VIETNAMESE MARKET ANALYSIS Practical and Legal PerspectiveDr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC providing an overview of investing in Vietnam. It discusses why Vietnam is an attractive investment destination due to its strong economic growth rates and integration into regional and international trade agreements. Several key points are made about Vietnam's economy in 2015, its transition from a rice importer to exporter, and projected growth rates. The benefits of trade agreements such as the ASEAN Economic Community, EU-Vietnam Free Trade Agreement, and Trans-Pacific Partnership for Vietnam and foreign investors are also summarized.
Role of World Trade Organization in fisheriesANIKETGIRI7
The document discusses the role of the World Trade Organization (WTO) in regulating international fisheries trade. It covers several key topics:
1) The functions of the WTO in facilitating trade agreements and dispute resolution between member countries.
2) How fisheries subsidies impact overfishing and the environment. WTO negotiations aim to set rules limiting subsidies that contribute to overcapacity and overfishing.
3) Issues in international seafood trade such as food safety standards and anti-dumping measures are governed by WTO agreements on sanitary measures, subsidies, and anti-dumping.
1. Bangladesh's textile industry is a major economic driver, especially garment exports which have grown from $1 million in 1978 to over $20 billion currently.
2. The knit sector has a more complete value chain as 95% of fabrics and accessories are sourced locally, while the woven sector relies on 85% imported fabrics.
3. Both sectors would benefit from further developing backward linkages to reduce costs and lead times.
Non Tariff Barriers between India and Sri Lanka supriyaisec
The document discusses non-tariff barriers between India and Sri Lanka. It finds that while the India-Sri Lanka Free Trade Agreement (ISFTA) led to large growth in bilateral trade, utilization rates of the agreement have been falling, possibly due to non-tariff barriers. Through surveys and stakeholder consultations, it identifies several specific non-tariff barriers facing traders, including standards and certification issues, import restrictions, infrastructure problems, and discrimination faced by Sri Lankan nationals and goods in some parts of India. It recommends addressing these barriers through measures like establishing an online grievance cell, updating information systems, harmonizing standards, and ensuring new trade agreements facilitate reducing non-tariff barriers to realize the
We will first look at the world trading system as it has evolved under the General Agreement on Tariffs and Trade (GATT) and the establishment ot a permanent international institution known as the World Trade Organization (WTO).
The document discusses the history and evolution of international trade agreements from the 1930s Great Depression through the establishment of the World Trade Organization (WTO) in 1995. It provides details on the General Agreement on Tariffs and Trade (GATT), the 8 rounds of GATT negotiations, the Uruguay Round that established the WTO, functions and principles of the WTO, the Doha Development Round, advantages and drawbacks of the WTO, types of trade barriers, and implications for Indian seafood trade.
The TPP is the first trade agreement to subject Vietnam to enforceable labor commitments like freedom of association, collective bargaining, and minimum work conditions. Key reforms include allowing workers to form independent unions without prior authorization and elect their own representatives. The TPP also supports collective bargaining by ensuring unions can consult international organizations and protecting independent association. Vietnam is held accountable through the TPP's enforcement mechanism, which includes dispute settlement and trade sanctions for failing to uphold commitments. The TPP promises to improve living standards and workers' rights in Vietnam over the next five years.
The document discusses the General Agreement on Trade in Services (GATS), which extended the multilateral trading system to the service sector. It covers the history of GATS, its main principles and scope, related sectors and sub-sectors, modes of trade, provisions regarding public services and domestic regulation, and implications for the health care system. The goal of GATS is progressive liberalization of trade in services through negotiation rounds to expand commitments over time.
This ppt. tells about International Trade Barrier and its instruments for trade control.It shows the 3 sectors in which protectionism is provided in India.
Vietnam - New Investment Law, The TPP, AEC, EVFTA and Star Trek: Scotti: Bea...Dr. Oliver Massmann
This document provides an overview of Vietnam's new investment law and the opportunities presented by various trade agreements including the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). Key points include simplifying investment procedures, liberalizing certain sectors, increasing market access through tariff reductions and services commitments, and establishing investor-state dispute settlement mechanisms.
The document discusses the impact of WTO policies on developing countries. It notes that over three quarters of WTO members are developing or least-developed countries. While the WTO agreements provide some benefits to developing countries like longer implementation periods, the provisions have often been insufficient and developing countries remain disadvantaged in many ways. Negotiations have stalled in part due to power imbalances where developed countries dominate the decision making process and are unwilling to compromise on issues important to developing world like agricultural subsidies. Overall, the needs and interests of developing countries have not been fully addressed within the current WTO system.
World trade agreements related with food businessunnatikshetriya1
The document discusses several key World Trade Organization (WTO) agreements related to international food trade, including:
1. The Agreement on Agriculture (AoA) which aims to reform agricultural trade and subsidies.
2. The Agreement on Sanitary and Phytosanitary Measures (SPS Agreement) which concerns food safety and animal and plant health regulations.
3. The Agreement on Technical Barriers to Trade (TBT Agreement) which covers technical regulations and standards that could act as barriers to trade.
4. The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) which establishes minimum standards for various forms of intellectual property regulation.
The document discusses regional trade systems and the principles of the international trading system. It outlines five key principles: non-discrimination, reciprocity, binding and enforceable commitments, transparency, and safety valves. It then lists recommendations to promote free trade, continue institutions like the WTO, progressively deregulate and free trade while providing consumer information, and assist poor countries in participating in the international trading system.
Tariff and non-tariff barriers to trade are discussed. Over time, countries have reduced tariff rates and withdrawn taxes as they recognize the detrimental effects on free trade. China's average tariff rate on manufactured goods dropped from 40.75% in 1992 to 7.69% in 2010 following WTO accession in 2001. Non-tariff barriers include import quotas, embargoes, licenses and standards that imports must meet. Agricultural trade barriers in South Asia include tariffs, import licensing restrictions and quantitative restrictions that have been reduced as countries liberalized trade policies. Intra-regional trade agreements like SAPTA have had a positive impact in creating agricultural trade in South Asia.
How GVCs are changing the international trade and what policies Nigeria can s...Cynthia Onyinyechi Igodo
1) Global value chains (GVCs) describe the range of activities involved in designing, producing, marketing and distributing a good or service from conception to the end consumer.
2) Nigeria's economy is highly dependent on exporting commodities like oil and agricultural products, but it needs to transition to more sophisticated participation in GVCs through basic manufacturing and processing.
3) For Nigeria to effectively integrate into GVCs, policies need to focus on improving infrastructure, strengthening intellectual property protections, easing access to financing, and reforming customs and border procedures.
World trade organisation & world trade agreements related to foodAafaq Malik
This document provides an overview of the World Trade Organization (WTO) and several key agreements related to international food trade. It explains that the WTO was established in 1995 and oversees global trade rules and agreements. The document summarizes several major agreements that impact food trade, including the Agreement on Agriculture, the Sanitary and Phytosanitary Agreement, the Technical Barriers to Trade Agreement, and the Agreement on Trade-Related Aspects of Intellectual Property Rights. These agreements aim to facilitate international food trade while allowing countries to enforce food safety and animal and plant health regulations.
Lawyer in Vietnam Oliver Massmann Flat World Opportunities for Vietnamese Ent...Dr. Oliver Massmann
The document discusses opportunities for Vietnamese enterprises from increased economic integration through trade agreements like the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). It notes that these agreements could significantly increase Vietnam's GDP and exports by reducing tariffs. The document provides advice to Vietnamese enterprises on how to attract investors and maximize the benefits from these new market access opportunities, such as building an international brand, proving potential success, and maintaining trust and credibility.
1. India joined the WTO in 1995 after negotiations during the Uruguay Round from 1986-1994. The WTO aims to liberalize trade while the GATT was more flexible.
2. There are differences between the GATT and WTO regarding dispute settlement mechanisms and whether domestic legislation is permitted. The WTO also has permanent agreements while GATT was provisional.
3. A key issue for India in the WTO is defending its public stockholding and food subsidy programs for food security and supporting farmers. Developed countries have criticized these programs while India argues they are rights-based issues and not matters for the WTO.
4. After negotiations, India and the US reached an agreement in 2014
The World Trade Organization (WTO) is the international body that oversees global trade rules between nations. Its key functions are to liberalize trade, ensure trade flows smoothly and predictably, and provide a forum to resolve trade disputes. It has 164 member countries representing over 90% of global trade. The WTO helps establish standards and agreements on issues like agriculture, services, intellectual property, and trade remedies to facilitate fair competition.
Lawyer in Vietnam Dr. Oliver Massmann EU- VIETNAM FREE TRADE AGREEMENT'S (EV...Dr. Oliver Massmann
Lawyer in Vietnam Dr. Oliver Massmann EU- VIETNAM FREE TRADE AGREEMENT'S (EVFTA’S) AND COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP’S (CPTPP’S) INFLUENCE ON VIETNAMESE TEXTILE & APPAREL INDUSTRY
Lawyer in Vietnam Oliver Massmann TPP and EUVN FTA Rules of Origin AnalysisDr. Oliver Massmann
The document discusses rules of origin (RoO) under the Trans-Pacific Partnership (TPP) agreement and how they differ from the RoO in the EU-Vietnam Free Trade Agreement (EVFTA). RoO in the TPP are predominantly based on specified shifts in tariff classification, regional value content, and production stages. Most tariffs on textiles and apparel will be eliminated under the TPP, though some sensitive products will have longer phase-out periods. For footwear, the TPP provides more flexible RoO than for textiles, allowing sourcing from anywhere in the TPP with some exceptions. The EVFTA uses a "fabric-forward" rule for textiles compared to the "yarn-
VIETNAM’S BUSINESS ENVIRONMENT - Investment opportunities and challenges for...Dr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC about investing in Vietnam. It provides an overview of Vietnam's economy, recent trade agreements including the EU-Vietnam Free Trade Agreement and TPP, and the business environment and investment opportunities in Vietnam. Key points covered include Vietnam's GDP growth, trade relations, incentives for foreign investment, and reduced restrictions on foreign ownership under new laws. Overall, the presentation aims to promote investing in Vietnam by outlining the country's economic reforms and integration into regional and global trade.
1. Bangladesh's textile industry is a major economic driver, especially garment exports which have grown from $1 million in 1978 to over $20 billion currently.
2. The knit sector has a more complete value chain as 95% of fabrics and accessories are sourced locally, while the woven sector relies on 85% imported fabrics.
3. Both sectors would benefit from further developing backward linkages to reduce costs and lead times.
Non Tariff Barriers between India and Sri Lanka supriyaisec
The document discusses non-tariff barriers between India and Sri Lanka. It finds that while the India-Sri Lanka Free Trade Agreement (ISFTA) led to large growth in bilateral trade, utilization rates of the agreement have been falling, possibly due to non-tariff barriers. Through surveys and stakeholder consultations, it identifies several specific non-tariff barriers facing traders, including standards and certification issues, import restrictions, infrastructure problems, and discrimination faced by Sri Lankan nationals and goods in some parts of India. It recommends addressing these barriers through measures like establishing an online grievance cell, updating information systems, harmonizing standards, and ensuring new trade agreements facilitate reducing non-tariff barriers to realize the
We will first look at the world trading system as it has evolved under the General Agreement on Tariffs and Trade (GATT) and the establishment ot a permanent international institution known as the World Trade Organization (WTO).
The document discusses the history and evolution of international trade agreements from the 1930s Great Depression through the establishment of the World Trade Organization (WTO) in 1995. It provides details on the General Agreement on Tariffs and Trade (GATT), the 8 rounds of GATT negotiations, the Uruguay Round that established the WTO, functions and principles of the WTO, the Doha Development Round, advantages and drawbacks of the WTO, types of trade barriers, and implications for Indian seafood trade.
The TPP is the first trade agreement to subject Vietnam to enforceable labor commitments like freedom of association, collective bargaining, and minimum work conditions. Key reforms include allowing workers to form independent unions without prior authorization and elect their own representatives. The TPP also supports collective bargaining by ensuring unions can consult international organizations and protecting independent association. Vietnam is held accountable through the TPP's enforcement mechanism, which includes dispute settlement and trade sanctions for failing to uphold commitments. The TPP promises to improve living standards and workers' rights in Vietnam over the next five years.
The document discusses the General Agreement on Trade in Services (GATS), which extended the multilateral trading system to the service sector. It covers the history of GATS, its main principles and scope, related sectors and sub-sectors, modes of trade, provisions regarding public services and domestic regulation, and implications for the health care system. The goal of GATS is progressive liberalization of trade in services through negotiation rounds to expand commitments over time.
This ppt. tells about International Trade Barrier and its instruments for trade control.It shows the 3 sectors in which protectionism is provided in India.
Vietnam - New Investment Law, The TPP, AEC, EVFTA and Star Trek: Scotti: Bea...Dr. Oliver Massmann
This document provides an overview of Vietnam's new investment law and the opportunities presented by various trade agreements including the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). Key points include simplifying investment procedures, liberalizing certain sectors, increasing market access through tariff reductions and services commitments, and establishing investor-state dispute settlement mechanisms.
The document discusses the impact of WTO policies on developing countries. It notes that over three quarters of WTO members are developing or least-developed countries. While the WTO agreements provide some benefits to developing countries like longer implementation periods, the provisions have often been insufficient and developing countries remain disadvantaged in many ways. Negotiations have stalled in part due to power imbalances where developed countries dominate the decision making process and are unwilling to compromise on issues important to developing world like agricultural subsidies. Overall, the needs and interests of developing countries have not been fully addressed within the current WTO system.
World trade agreements related with food businessunnatikshetriya1
The document discusses several key World Trade Organization (WTO) agreements related to international food trade, including:
1. The Agreement on Agriculture (AoA) which aims to reform agricultural trade and subsidies.
2. The Agreement on Sanitary and Phytosanitary Measures (SPS Agreement) which concerns food safety and animal and plant health regulations.
3. The Agreement on Technical Barriers to Trade (TBT Agreement) which covers technical regulations and standards that could act as barriers to trade.
4. The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) which establishes minimum standards for various forms of intellectual property regulation.
The document discusses regional trade systems and the principles of the international trading system. It outlines five key principles: non-discrimination, reciprocity, binding and enforceable commitments, transparency, and safety valves. It then lists recommendations to promote free trade, continue institutions like the WTO, progressively deregulate and free trade while providing consumer information, and assist poor countries in participating in the international trading system.
Tariff and non-tariff barriers to trade are discussed. Over time, countries have reduced tariff rates and withdrawn taxes as they recognize the detrimental effects on free trade. China's average tariff rate on manufactured goods dropped from 40.75% in 1992 to 7.69% in 2010 following WTO accession in 2001. Non-tariff barriers include import quotas, embargoes, licenses and standards that imports must meet. Agricultural trade barriers in South Asia include tariffs, import licensing restrictions and quantitative restrictions that have been reduced as countries liberalized trade policies. Intra-regional trade agreements like SAPTA have had a positive impact in creating agricultural trade in South Asia.
How GVCs are changing the international trade and what policies Nigeria can s...Cynthia Onyinyechi Igodo
1) Global value chains (GVCs) describe the range of activities involved in designing, producing, marketing and distributing a good or service from conception to the end consumer.
2) Nigeria's economy is highly dependent on exporting commodities like oil and agricultural products, but it needs to transition to more sophisticated participation in GVCs through basic manufacturing and processing.
3) For Nigeria to effectively integrate into GVCs, policies need to focus on improving infrastructure, strengthening intellectual property protections, easing access to financing, and reforming customs and border procedures.
World trade organisation & world trade agreements related to foodAafaq Malik
This document provides an overview of the World Trade Organization (WTO) and several key agreements related to international food trade. It explains that the WTO was established in 1995 and oversees global trade rules and agreements. The document summarizes several major agreements that impact food trade, including the Agreement on Agriculture, the Sanitary and Phytosanitary Agreement, the Technical Barriers to Trade Agreement, and the Agreement on Trade-Related Aspects of Intellectual Property Rights. These agreements aim to facilitate international food trade while allowing countries to enforce food safety and animal and plant health regulations.
Lawyer in Vietnam Oliver Massmann Flat World Opportunities for Vietnamese Ent...Dr. Oliver Massmann
The document discusses opportunities for Vietnamese enterprises from increased economic integration through trade agreements like the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). It notes that these agreements could significantly increase Vietnam's GDP and exports by reducing tariffs. The document provides advice to Vietnamese enterprises on how to attract investors and maximize the benefits from these new market access opportunities, such as building an international brand, proving potential success, and maintaining trust and credibility.
1. India joined the WTO in 1995 after negotiations during the Uruguay Round from 1986-1994. The WTO aims to liberalize trade while the GATT was more flexible.
2. There are differences between the GATT and WTO regarding dispute settlement mechanisms and whether domestic legislation is permitted. The WTO also has permanent agreements while GATT was provisional.
3. A key issue for India in the WTO is defending its public stockholding and food subsidy programs for food security and supporting farmers. Developed countries have criticized these programs while India argues they are rights-based issues and not matters for the WTO.
4. After negotiations, India and the US reached an agreement in 2014
The World Trade Organization (WTO) is the international body that oversees global trade rules between nations. Its key functions are to liberalize trade, ensure trade flows smoothly and predictably, and provide a forum to resolve trade disputes. It has 164 member countries representing over 90% of global trade. The WTO helps establish standards and agreements on issues like agriculture, services, intellectual property, and trade remedies to facilitate fair competition.
Lawyer in Vietnam Dr. Oliver Massmann EU- VIETNAM FREE TRADE AGREEMENT'S (EV...Dr. Oliver Massmann
Lawyer in Vietnam Dr. Oliver Massmann EU- VIETNAM FREE TRADE AGREEMENT'S (EVFTA’S) AND COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP’S (CPTPP’S) INFLUENCE ON VIETNAMESE TEXTILE & APPAREL INDUSTRY
Lawyer in Vietnam Oliver Massmann TPP and EUVN FTA Rules of Origin AnalysisDr. Oliver Massmann
The document discusses rules of origin (RoO) under the Trans-Pacific Partnership (TPP) agreement and how they differ from the RoO in the EU-Vietnam Free Trade Agreement (EVFTA). RoO in the TPP are predominantly based on specified shifts in tariff classification, regional value content, and production stages. Most tariffs on textiles and apparel will be eliminated under the TPP, though some sensitive products will have longer phase-out periods. For footwear, the TPP provides more flexible RoO than for textiles, allowing sourcing from anywhere in the TPP with some exceptions. The EVFTA uses a "fabric-forward" rule for textiles compared to the "yarn-
VIETNAM’S BUSINESS ENVIRONMENT - Investment opportunities and challenges for...Dr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC about investing in Vietnam. It provides an overview of Vietnam's economy, recent trade agreements including the EU-Vietnam Free Trade Agreement and TPP, and the business environment and investment opportunities in Vietnam. Key points covered include Vietnam's GDP growth, trade relations, incentives for foreign investment, and reduced restrictions on foreign ownership under new laws. Overall, the presentation aims to promote investing in Vietnam by outlining the country's economic reforms and integration into regional and global trade.
Lawyer in Vietnam Dr. Oliver Massmann - How can European businesses benefit f...Dr. Oliver Massmann
The document discusses the EU-Vietnam Free Trade Agreement (EVFTA) and its impact on EU-Vietnam trade relations. It provides an overview of Vietnam's economy, details of the EVFTA including coverage, opportunities and challenges for certain sectors, and comparisons of market access commitments in the WTO, ASEAN Economic Community (AEC), and EVFTA. The EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 10 years and facilitate greater trade and investment flows. Vietnam's economy has grown significantly in recent years and the EVFTA could support continued growth and integration into global markets.
Vietnam - The TPP, AEC and Star Trek: Scotti: Beam Vietnam UpDr. Oliver Massmann
This document discusses the ASEAN Economic Community (AEC) and the Trans-Pacific Partnership (TPP) agreement and their potential benefits for Vietnam. It provides an overview of the AEC, including its goals of establishing a single market and production base within ASEAN. It also outlines some of the progress that has been made toward economic integration under the AEC. The document then discusses key aspects of the TPP, particularly how it differs from other trade agreements in its scope and coverage of issues. It argues the TPP could provide significant economic benefits to Vietnam through tariff reductions, increased exports and foreign investment.
LAWYER IN VIETNAM OLIVER MASSMANN VIETNAM M&A IN 2016 AND 2017 OUTLOOKDr. Oliver Massmann
This document summarizes Oliver Massmann's presentation on M&A trends in Vietnam in 2016 and the outlook for 2017. Some key points from the presentation include:
- Major foreign investors in Vietnamese M&A deals in 2016 came from Thailand, Japan, Korea, the US and Europe as they prepared for new trade agreements.
- Retail and real estate were the most active sectors in terms of deal value. Notable M&A deals included Central Group's acquisition of Big C Vietnam and TTC Holdings' acquisition of Metro Vietnam.
- Drivers of M&A activity in Vietnam in 2016 included the new Investment Law, Enterprise Law and implementing decrees which simplified procedures, as well as new trade agreements like the
HOW CAN EUROPEAN BUSINESSES BENEFIT FROM THE EU- VIETNAM FREE TRADE AGREEMENT? Dr. Oliver Massmann
This document discusses the benefits of the EU-Vietnam Free Trade Agreement (EVFTA) for European and Vietnamese businesses. It provides an overview of Vietnam's economy in 2016 and the progress of EVFTA negotiations. Key points include that EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 7-10 years, improve market access for goods and services, and establish rules for investment protection and dispute resolution. The agreement has the potential to significantly increase bilateral trade and investment by creating more opportunities in sectors like automotive, pharmaceuticals, alcoholic beverages, and others. Challenges include rising competition and reducing tariffs that impact government revenue.
Dumping occurs when a country exports a product at a lower price in the foreign market than it charges in its domestic market. It has been practiced since the 16th century and can be sporadic, predatory, or persistent. It is done to gain market share, eliminate competition, or get rid of excess inventory. Dumping harms domestic industries and can lead to job losses and trade disputes between countries. The WTO oversees whether dumping is unfair competition. Countries like the US and EU impose tariffs through anti-dumping investigations conducted by designated authorities to counter the effects of dumping. India has filed 272 anti-dumping cases, with 149 against China, involving chemicals, pharmaceuticals, textiles, metals and
Lawyer in Vietnam Dr. Oliver Massmann - DOING BUSINESS IN VIETNAM - What in-h...Dr. Oliver Massmann
The document provides an overview of doing business in Vietnam presented by Dr. Oliver Massmann of Duane Morris Vietnam LLC. It discusses Vietnam's strong economic growth, integration into regional trade agreements, attractive investment environment including tax incentives, and labor market. Specific topics covered include Vietnam's GDP, exports, free trade agreements like CPTPP and EVFTA, sectors seeing foreign investment, procedures for investment and M&A, and taxation. The presentation encourages investors to take advantage of opportunities in Vietnam.
This document summarizes key legislation, regulations, and processes relevant to the offshore oil and gas industry in Myanmar. It outlines laws governing foreign investment, labor, environment, and international treaties. It also describes Myanmar Oil and Gas Enterprise's role in controlling the industry, the production sharing contract process, and concerns for foreign investors around political stability and contract enforcement. MOGE plans to tender new offshore blocks in 2015 after delays due to recent elections.
LAWYER IN VIETNAM DR.OLIVER MASSMANN - OUTLINING DOMESTIC AND INTERNATIONAL L...Dr. Oliver Massmann
LAWYER IN VIETNAM DR.OLIVER MASSMANN - OUTLINING DOMESTIC AND INTERNATIONAL LEGISLATION (EU – VIETNAM FTA AND CPTPP) AND BUSINESS ENVIRONMENT FOR SEAPORT DEVELOPMENT AND OPERATIONS IN VIETNAM
The document discusses investing in Vietnam's chemical industry. It notes that Vietnam has integrated into regional and international economies through various free trade agreements. The chemical industry in Vietnam has experienced high growth rates in recent years but also faces challenges. There are some conditions for investing in the chemical sector, including requirements for technical directors and safety standards. The presentation provides an overview of Vietnam's economic growth and integration efforts to promote it as an attractive destination for chemical industry investments.
Lawyer in Vietnam Dr. Oliver Massmann ASEAN's New Direction - Opportunities f...Dr. Oliver Massmann
This document is a presentation about opportunities for German companies in ASEAN given the establishment of the ASEAN Economic Community (AEC). It begins with an introduction to the AEC, including its goals of creating a single market and production base to attract foreign investment and increase intra-ASEAN trade. Country backgrounds are then provided for Vietnam, Cambodia, and Myanmar, highlighting economic growth opportunities and challenges in each. The presentation concludes by emphasizing the benefits for investors of doing business in the ASEAN region.
INVESTMENT OPPORTUNITIES AND CHALLENGES IN VIETNAM AND MYANMARDr. Oliver Massmann
The document discusses investment opportunities and challenges in Vietnam and Myanmar. It provides an overview of the economies and business environments of both countries, highlighting sectors with strong investment potential such as agriculture, manufacturing, and tourism. Challenges include developing infrastructure and a skilled workforce. The document also outlines the key trade agreements and incentives available to foreign investors in Vietnam and Myanmar.
Lawyer in Vietnam Dr. Oliver Massmann - WHY ASEAN and WHY NOW ?Dr. Oliver Massmann
The document discusses the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) and reasons for investing in Vietnam. It provides an overview of AEC, including its goals of creating a single market and production base. Progress in establishing AEC is outlined, such as eliminating tariffs and non-tariff barriers. Vietnam is highlighted as an attractive investment destination due to its political stability, growing economy, favorable government policies towards business, and numerous free trade agreements. Challenges in fully realizing AEC are also noted. The conclusion emphasizes the large market access and investment protections that AEC offers to investors.
Myanmar - Significant Law and Regulation Relevant to the Offshore Oil and Gas...Dr. Oliver Massmann
This document summarizes key legislation, regulations, and processes for foreign investment in Myanmar's offshore oil and gas industry. It outlines laws governing state-owned enterprises, foreign investment, labor, and the environment. It also describes the typical process of obtaining production sharing contracts with MOGE, including requirements for local partners and models for offshore and onshore blocks. Key investor concerns are stability, enforcement, arbitration, and transparency in the tendering process. Risk management strategies recommended engaging local counsel and understanding Myanmar business risks.
M&A in Vietnam: addressing key issues that arise under the enterprise law and...Dr. Oliver Massmann
This document summarizes a presentation given by Dr. Oliver Massmann on M&A in Vietnam. It discusses opportunities and challenges for M&A under Vietnam's new investment and enterprise laws. Key points include an overview of major M&A trends in Vietnam in recent years, notable M&A deals in 2016, drivers of M&A activity, changes to foreign ownership limits, and Vietnam's increasing economic integration through agreements like the TPP and EU-Vietnam Free Trade Agreement. The presentation addresses issues that commonly arise for foreign investors pursuing M&A transactions in Vietnam.
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VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due ...Dr. Oliver Massmann
VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence Directive (CSDDD oder das EU-Lieferkettengesetz): Umfassende Analyse und Ausblick auf die Auswirkungen auf Unternehmen in Vietnam
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chai...Dr. Oliver Massmann
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chain Law): A Comprehensive Analysis and Review of its Implications on Vietnam-based Companies
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OMassmann - Investment into the grid and transmission system in Vietnam (2024...Dr. Oliver Massmann
The document summarizes Vietnam's Power Development Plan 8 (PDP8), which aims to ensure national energy security by 2050 through increasing renewable energy and developing the transmission grid system. Key points include: (1) PDP8 sets renewable energy targets of 47% by 2030 and 67.5-71.5% by 2050; (2) $134.7 billion will be invested in power generation and transmission from 2021-2030; (3) the plan encourages private investment and development of the transmission grid system.
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The Prime Minister of Vietnam approved the Plan for Implementation of the National Power Development Plan to 2030 (PDP8) on April 1, 2024. The Implementation Plan sets specific tasks and timelines for government ministries to execute PDP8 through 2025. It maintains planned capacity targets for power generation projects such as gas, coal, and hydropower. However, it does not provide guidelines to address issues like project bankability and feed-in tariffs. The Implementation Plan also lists onshore wind and solar power projects and targets, while prioritizing the development of relevant legal frameworks through 2025 to fully implement PDP8 by 2030.
VIETNAM - THE NEW LAW ON CREDIT INSTITUTIONS - WHAT YOU MUST KNOW:Dr. Oliver Massmann
The National Assembly of Vietnam passed a new Law on Credit Institutions that takes effect on July 1, 2024. The objectives of the new law are to strengthen the resilience of the banking system, increase the independence and accountability of credit institutions, and improve oversight of the banking industry. Key changes include new rules around cross-ownership in commercial banks, managing bad debts, and providing a legal framework for digital banking. These regulations are intended to further develop Vietnam's market infrastructure and move the country closer to emerging market status. However, Vietnam remains a frontier market, and guidance on the new law could focus more on ensuring availability of information and streamlined processes to set up investment accounts to help Vietnam achieve emerging market status sooner. The new law
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Vietnam's National Energy Development Strategy – Key HighlightsDr. Oliver Massmann
The Prime Minister of Vietnam approved the National Energy Development Strategy to 2030 and vision to 2045 to ensure national energy security and sustainable development. The strategy aims to meet domestic energy demand through 2030 by supplying 150-170 million tons of oil equivalent primarily through renewable sources comprising 15-20% of supply by 2030 and 65-70% by 2045. It also seeks to reduce greenhouse gas emissions from energy by 15-35% by 2030 and 70-80% by 2045. The Ministry of Industry and Trade will implement policies and proposed legislation to develop an interconnected energy market, encourage private investment in renewable projects, and establish a framework for direct power purchase agreements between renewable producers and customers.
Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence ...Dr. Oliver Massmann
Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence Directive (CSDDD oder das EU-Lieferkettengesetz): Umfassende Analyse und Ausblick auf die Auswirkungen auf Unternehmen in Vietnam
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AGENDA
• COMPREHENSIVE AND PROGRESSIVE TRANS-
PACIFIC PARTENRSHIP (“CPTPP”) –WHAT IS IT?
• WHAT DOES CPTPP HAVE TO OFFER TO
INVESTORS?
• INVESTING IN VIETNAM – WHY?
• CONCLUSION
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Comprehensive and Progressive Trans-Pacific
Partnership (“CPTPP”)
• On 8 March 2018, the CPTPP was finally signed in Chile. The
CPTPP accounts for 495 million people representing 13.5% of the
world total economic output - worth a total of $10 trillion.
• CPTPP will lead to an increase of 1.32% in Vietnam’s GDP
• Vietnam will have access to newer markets and can expand their
exports to countries such as Canada, Mexico, and Peru with whom
it does not have a trade agreement.
• Opportunity for Vietnam to re-structure the export market
portfolio, not rely too much on the United States.
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New areas in the CPTPP compared with existing FTAs
– Regulatory coherence
– State-owned enterprises
– Government procurement
– Competition
– Investment
– E-commerce
– Environment and
– Labour.
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CPTPP Trade in Goods
• Tariff and non-tariff barriers on most industrial goods are
eliminated immediately, with tariffs on some sensitive products will
be phased out as agreed by the CPTPP Parties.
• Each CPTPP Parties provide a tariff schedule covering all goods.
• Parties agree not to use performance requirements, such as local
production requirements.
• Parties agree not to impose WTO-inconsistent import-export
restrictions and duties. If any, they are required to notify the others
about the procedures to ensure transparency and promote trade
flows.
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Trade in Services
• Negative approach, meaning that their markets are fully
opened to service suppliers from other CPTPP Parties,
except otherwise indicated in their commitments (non-
conforming measures)
• In order to make such reservations, the member state must
prove the necessity of such preservation and negotiate with
other member states. If approved, the non-conforming
measures are only limited to such list, except for measures in
certain sensitive sectors which are included in a separate list
• Ratchet approach: Member states are only allowed to adopt
policies that are better than what they commit
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Investor-state dispute settlement (ISDS)
• Through binding arbitration
• Arbitral awards are final, binding and fully enforceable in CPTPP
countries
• ISDS provisions include protections commonly found in investment
agreements such as non-discrimination; fair and equitable treatment; full
protection and security; the prohibition of expropriation that is not for
public purpose, without due process, or without compensation; the free
transfer of funds related to investments; and the freedom to appoint
senior management positions regardless of nationality.
• New protections in the CPTPP:
– Transparency in arbitral proceedings, disclosure of filings and arbitral awards, and
participation of interested non-disputing parties to make amicus curiae submissions to
a tribunal
– Safeguards to ensure government’s ability to regulate in the public interest (public
health, safety and the environment)8
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Rules of Origin
• Originating goods:
– Wholly obtained or produced goods;
– Produced in and from materials originating from CPTPP countries; or
– Produced in and using material not originating from CPTPP countries nut
satisfying CPTPP rules of origin.
• Separate rules of origin for each specific type of goods
• Separate chapter on rules of origin for textile products
• Rules of origin in CPTPP are predominantly based on a specified
shift in tariff classification, regional value content and production
stages
• No requirement for certificates of origin under CPTPP, or third-
party certification of origin but self-certification is sufficient
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CPTPP - Textiles and Apparel
• Vietnam’s garment and textile exports to the CPTPP countries now account for
13% of the total value.
• Fabrics imported from CPTPP countries is currently 1.5% of fabrics import
value of Vietnam.
• Most tariffs on textiles and apparel will be eliminated immediately, although
tariffs on some sensitive products will be phased out as agreed by the CPTPP
Parties.
• Yarn-forward RoR: all products in a garment from the yarn stage forward,
including yarn spinning, knitting and dyeing, must be made in one of the
countries that is party to the agreement in order to qualify for preferential
treatment under CPTPP.
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15-20% import
tariff rate
0%
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Exceptions to the yarn-forward rule
– A carefully tailored short supply list (when certain yarns and fabrics
not widely available in the region can be permanently sourced from
outside the region for qualifying products or only within 5 years
from the CPTPP’s entry into force).
– Cut and sew rule: bras, synthetic baby garments and textile bags. For
those things, you can use yarn or fabric from anywhere and cut and
sew within the CPTPP.
– de minimis: total weight of a textile or apparel’s non-CPTPP yarn does
not exceed 10 percent of the main fabric.
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Yarn-forward rule: Impact on Vietnam’s textile industry
• Current status and Issues:
– Around 6,000 textile companies in Vietnam - ~600,000 machines have to be replaced
– 60% of imported materials sourced from other non-CPTPP countries (mainly China)
– Domestic production of materials has not met the demand
– Yarn production must go together with weaving and dying but environment protection
is currently an issue.
• Impacts and what to do next:
– More foreign investment in textile industry with investment value of up to USD1
billion.
– Sourcing managers are looking for alternatives due to rising costs, labor shortages, strict
compliance and environmental regulations and a move to production of high value
products in China
– Establish domestic supply chain
– Bring into operation domestic yarn production factories
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CPTPP - Gains for Vietnam
• Sectors that benefit the most from the CPTPP:
– Textiles, clothing, footwear
– Food, beverages and tobacco
– Chemicals, transport equipment, plastic parts
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CPTPP - Gains for Vietnam (cont.)
• Opportunity to involve in new supply chain in the region given
strict Rules of Origin
• More incentives for Government institutional and economic
reforms towards more transparent, open and predictable
investment environment, attracting more foreign investment in
Vietnam
• More sophisticated joining of separate business sections to
integrate into new profit streams
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CPTPP - Challenges for business in Vietnam
• Weak supporting industry
• Stagnation of the enterprise system
• Role of SOEs in the system
• Level of IP protection
• Corruption
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How business should prepare for it?
• Be aware of the obstacles when the market is more liberalized
• Actively participate in international trade and regional supply
chains
• Carefully examine the CPTPP to find out where the benefits they
expect are, what are the conditions to reap such benefits, etc. Each
sector will need to do their own homework.
• Learn the rules of the game; and
• INVEST IN VIETNAM BEFORE IT IS TOO LATE!
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CPTPP and AEC intersection
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Thailand
Malaysia
Brunei
CanadaAustralia
Cambodia
Indonesia Myanmar
Peru
Philippines
Japan
Laos
Mexico New Zealand
Singapore
Vietnam
Chile
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AEC Market Snapshot – Asia’s main
investment hub
• GDP: US$2,432 billion (2015)
• GDP per capita: US$3,867 (2015)
• Population: 629 million, 60% under the age of 35
• AEC % of world GDP: ~3.3% (2015)
• Annual GDP growth: 4.7% (2015)
• AEC’s merchandise exports: US$2.2 trillion
• ASEAN could be the 4th
largest economy in the world by
2030
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Vietnam 2018 Economy at a glance
• GDP: US$220.3 billion
• GDP per capita: US$2,385
• GDP Growth: 7.08% (record breaking since 2008)
• Inflation: 3.54%
• Population: About 91.70 million
• Labor force aged 15 and above: 54.61 million
• Total export and import turnover: : >US$482
billion (14% increase compared with 2017)
• Regional Minimum wage (Region I): VND 4.180
million (US$ 180) per month (Jan 2019)
• Vietnam’s average age: 29 years old
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Welcome to the most dynamic country on this
planet : Vietnam!
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Growing middle-class
(doubled by 2020 to
33 million people
according to Boston
Consulting Group)
Fastest-growing ASEAN economy
in 2018 and 2019, as in 2017 –
Standard Chartered Bank predicts
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Vietnam’s super rich population is growing
faster than anywhere else….
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… and is on track to continue leading
the growth in the next decade
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Vietnam’s Free Trade Agreements
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ASEAN - China
ASEAN - Korea
ATIGA
ASEAN - India
ASEAN – Australia –
New Zealand
ASEAN - Japan
RCEP
Vietnam - Chile
Vietnam - Korea
Vietnam – Eurasian
Economic Union
Vietnam - EU
Vietnam - EFTA
CPTPP
ASEAN – Hong Kong
Vietnam - Israel
Vietnam - Japan
Signed
In negotiation/
Negotiation concluded
In negotiation
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WTO ANALYSIS OF LIBERALIZATION
OF MARKET ACCESS
Vietnam ties in first place with Singapore
• *Typical restrictions: number of opened sectors, JV
requirement, limits on foreign-owned shares, permission
requirement
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Country Limitation of
market access*
Country Limitation of
market access*
Malaysia medium Myanmar high
Indonesia medium Cambodia medium
Philippines medium Laos medium
Singapore low India high
Thailand medium China medium
Brunei high Vietnam low
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Investment environment in Vietnam
• Main governing laws: Investment Law, Enterprise Law and their
implementing documents
• Forms of doing investment in Vietnam:
– Economic entity establishment;
– Business cooperation contract: a contractual arrangement
between two or more investors without creating a legal entity
– Public-Private Partnership; a contractual agreement
between competent state authorities and investors, an
enterprise project in order to implement an investment
project;
– purchase of shares or capital contribution.
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Investment environment in Vietnam
• Forms of enterprises in Vietnam
– Limited liability company: members are liable to the extent of their
capital contributed
– Shareholding Company: charter capital (authorized share capital) is
divided into shares and members are liable to the extent of their capital
contributed
– Partnership: established between two or more partners;
– Business Cooperation Contract: an agreement without constituting a
legal entity and each party is individually responsible for paying taxes.
– Branch: a branch of a foreign company permitted to conduct
commercial activities
– Representative Office: represents the parent company, no actual
business operations. A suitable tool for market research
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Investment Law 2014 - New Negative List!
• All non-prohibited business activities are permitted
“Investors are entitled to conduct business investment activities in
industries and trades which are not prohibited by this Law.” (Art. 5.1,
Investment Law 2014)
•Removal of many baby permits
• Reduction of conditional and prohibited activities
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M&A procedures for foreign investors under new 2014
Investment Law
• Appears to be simple!!! Only registration required, no more
IRC
Satisfying the requirements for investment
Submitting application dossier
Assessment by the licensing authority and decision making after 15
days
Save up to 4-6 months
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INVESTMENT INCENTIVES
Items 2018
Inside SEZ Outside SEZ
Tax rates 10% for first 15
years
20%
CIT Holidays 04 years 2 years
CIT reduction 50% for subsequent
09 years
50% for subsequent
04 years
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• Carrying forward losses
• Reduction or exemption of land rental, land use fee
• Incentives for enterprises employing female workers
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Personal Income Tax
– Subjects:
Vietnam residents: those individuals residing in
Vietnam for 183 days or more in a calendar year, or in
12 consecutive months from the first date of arrival
Non-residents: an individual staying in Vietnam from
90 to 183 days in a tax year
– Tax rates: varied for employment and non-employment
income (employment income: graduated tax rates from 5-
35%; non-employment income: depending on each type
of income)
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Taxation in Vietnam
• Value-added Tax (“VAT”)
– Tax applied to goods and services used for
production, trading and consumption in Vietnam
(including goods and services purchased from abroad)
– Tax rate: 0-10% depending on types of goods and
services
• Other taxes: special sales tax (applied to luxury goods or
amusement places), natural resources tax, land and
housing tax, etc.
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Labor and Employment
• Minimum regional wages: ranging from US$123 –
US$175/month
• Social security:
– both employer and employee have to contribute to social fund (social
insurance, health insurance, unemployment insurance)
– The Fund covers the employees’ benefits during sick leave, maternity leave,
retirement, allowances for work related accidents and occupational diseases,
and survivors’ benefits
• Pension: Monthly pensions are provided from the Social
Insurance Fund where an individual has contributed social
insurance for more than 20 years and when they reach 60 years
of age for men, or 55 years of age for women.
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DUANE MORRIS VIETNAM LLC
Thank you very much!
HANOI OFFICE HO CHI MINH CITY OFFICE
Pacific Place, Unit V1307/08, 13th
Floor, Suite 1503/04, Saigon Tower
83B Ly Thuong Kiet, Hoan Kiem District 29 Le Duan Street, District 1
Hanoi, Vietnam Ho Chi Minh City, Vietnam
Tel.: +84 4 39462200 Tel.: +84 8 3824 0240
Fax: +84 4 3946 1311 Fax: +84 8 3824 0241
Contact email:
omassmann@duanemorris.com
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