Letter to Mr. Joe Biden Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Do not Drop your Slice of the Pie - From Dr. Oliver Massmann -General Director of Duane Morris Vietnam LLC
Letter to Mr. Joe Biden Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Do not Drop your Slice of the Pie - From Dr. Oliver Massmann -General Director of Duane Morris Vietnam LLC
- The C-Suite is concerned about anti-free trade rhetoric from US presidential candidates and wants lawmakers to continue supporting open trade policies.
- Executives strongly support expanding trade relationships and ratifying agreements like the TPP, while also strengthening ties with the US and Mexico through NAFTA.
- Views of the new Liberal government are mixed, with strong support for infrastructure spending but concerns about pipeline approvals and fiscal management.
After a long period of negotiations the 12 members of the Trans-Pacific Partnership (TPP) reached an agreement on October 5th. This could have big implications for member countries of TPP and for the rest of the world economy.
NAFTA is a trade agreement between the US, Canada, and Mexico that went into effect in 1994. It aims to reduce tariffs between the countries over 15 years. Since NAFTA, trade between the countries has increased dramatically, though the US trade deficit with Mexico and Canada has also increased substantially. NAFTA benefits include increased household income and GDP, though its impact is debated.
The 12 member countries comprising the Trans-Pacific Partnership, including the first and third largest economies in the world, the U.S. and Japan, aim to establish a trade agreement touted as a 21st century accord, that will liberalize trade in goods, services, investments, government purchases and protect intellectual property rights, among other things, that are not currently covered in other trade agreements
Letter to Mr. Donald Trump - Trans-Pacific Partnership – Don’t drop your Slic...Dr. Oliver Massmann
Letter to Mr. Donald Trump - Trans-Pacific Partnership – Don’t drop your Slice of the Pie
From Oliver Massmann – General Director of Duane Morris Vietnam LLC
The document discusses trade issues between China and the U.S., specifically in the apparel industry. It notes rising costs and fabric availability issues in China that are forcing companies to consider other production locations. Intellectual property protection and cybersecurity are also areas of concern. The Trans-Pacific Partnership agreement could help address some issues if ratified, as it aims to boost both countries' economies and investment. Proponents argue it could increase U.S. income and exports while creating over 1 million jobs. However, some worry previous trade deals led to outsourcing and job losses for American workers.
The economic competition between US and China increases with time. United States companies are looking for to depend less in China for its production and are setting up operations in other countries. One trend is to bring production close to home, in what is known as “nearshoring”. The advantage to this is that as their operation are near home, the time and cost of bringing the goods to the US market is lower than bringing them from China.
This article will examine what are the opportunities that nearshoring can present for Peru, if Peru is prepared for that or has a plan for it, and if US government is approaching Peru government for that effect.
The High Stakes for the Trans-Pacific PartnershipLewis Leibowitz
The document discusses the Trans-Pacific Partnership (TPP) trade agreement and its high stakes. It argues that the TPP's success or failure will significantly impact geopolitics in the Asia-Pacific region by influencing China's economic engagement. Ratifying the TPP would strengthen U.S. leadership and establish enforceable rules on issues like intellectual property. While concerns over national sovereignty and job losses are valid, rejecting the TPP would not stop manufacturing declines and would cede influence to China without creating alternative rules. Overall, the TPP presents opportunities for U.S. businesses and workers through expanded markets, though progress may be incremental.
- The C-Suite is concerned about anti-free trade rhetoric from US presidential candidates and wants lawmakers to continue supporting open trade policies.
- Executives strongly support expanding trade relationships and ratifying agreements like the TPP, while also strengthening ties with the US and Mexico through NAFTA.
- Views of the new Liberal government are mixed, with strong support for infrastructure spending but concerns about pipeline approvals and fiscal management.
After a long period of negotiations the 12 members of the Trans-Pacific Partnership (TPP) reached an agreement on October 5th. This could have big implications for member countries of TPP and for the rest of the world economy.
NAFTA is a trade agreement between the US, Canada, and Mexico that went into effect in 1994. It aims to reduce tariffs between the countries over 15 years. Since NAFTA, trade between the countries has increased dramatically, though the US trade deficit with Mexico and Canada has also increased substantially. NAFTA benefits include increased household income and GDP, though its impact is debated.
The 12 member countries comprising the Trans-Pacific Partnership, including the first and third largest economies in the world, the U.S. and Japan, aim to establish a trade agreement touted as a 21st century accord, that will liberalize trade in goods, services, investments, government purchases and protect intellectual property rights, among other things, that are not currently covered in other trade agreements
Letter to Mr. Donald Trump - Trans-Pacific Partnership – Don’t drop your Slic...Dr. Oliver Massmann
Letter to Mr. Donald Trump - Trans-Pacific Partnership – Don’t drop your Slice of the Pie
From Oliver Massmann – General Director of Duane Morris Vietnam LLC
The document discusses trade issues between China and the U.S., specifically in the apparel industry. It notes rising costs and fabric availability issues in China that are forcing companies to consider other production locations. Intellectual property protection and cybersecurity are also areas of concern. The Trans-Pacific Partnership agreement could help address some issues if ratified, as it aims to boost both countries' economies and investment. Proponents argue it could increase U.S. income and exports while creating over 1 million jobs. However, some worry previous trade deals led to outsourcing and job losses for American workers.
The economic competition between US and China increases with time. United States companies are looking for to depend less in China for its production and are setting up operations in other countries. One trend is to bring production close to home, in what is known as “nearshoring”. The advantage to this is that as their operation are near home, the time and cost of bringing the goods to the US market is lower than bringing them from China.
This article will examine what are the opportunities that nearshoring can present for Peru, if Peru is prepared for that or has a plan for it, and if US government is approaching Peru government for that effect.
The High Stakes for the Trans-Pacific PartnershipLewis Leibowitz
The document discusses the Trans-Pacific Partnership (TPP) trade agreement and its high stakes. It argues that the TPP's success or failure will significantly impact geopolitics in the Asia-Pacific region by influencing China's economic engagement. Ratifying the TPP would strengthen U.S. leadership and establish enforceable rules on issues like intellectual property. While concerns over national sovereignty and job losses are valid, rejecting the TPP would not stop manufacturing declines and would cede influence to China without creating alternative rules. Overall, the TPP presents opportunities for U.S. businesses and workers through expanded markets, though progress may be incremental.
Canada's involvement in trans-pacific trade partnershipnikita kozlov
Canada's involvement in trans-pacific trade partnership. Presentation. Information was taken from special book about Canada in Trans-Pacific Trade Partnership...
For all those that missed out last month in Chicago, we’ve crafted a full round up of our 3PL Summit & CSCO Forum. There’s coverage of the major sessions at the event, as well as up-to-date market research on the latest trends set to impact the industry.
The document discusses the Trans-Pacific Partnership (TPP) trade agreement. It began as a smaller trade deal between Pacific nations but has expanded significantly. The TPP now includes 12 countries that make up 40% of global GDP. While negotiations have been secretive, provisions around reducing tariffs and harmonizing regulations are emerging. However, critics argue the TPP favors corporate interests over environmental and labor protections. Controversially, it also allows corporations to sue governments over policies that impact profits. Supporters believe the economic benefits of increased trade outweigh these concerns, but the full impacts remain uncertain.
It involves 12 countries: the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.
The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth.
Member countries are also hoping to foster a closer relationship on economic policies and regulation.
The agreement could create a new single market something like that of the EU.
Pretty big indeed. The 12 countries have a collective population of about 800 million - almost double that of the European Union's single market. The 12-nation would-be bloc is already responsible for 40% of world trade.
The deal is a remarkable achievement given the very different approaches and standards within the member countries, including environmental protection, workers' rights and regulatory coherence - not to mention the special protections that some countries have for certain industries
The survey asked C-Suite executives about the US presidential election, trade agreements, climate change policies, and assessments of the new Canadian federal government. Key findings include:
- The C-Suite prefers Hillary Clinton over Donald Trump for US President by a ratio of 3 to 1. They also support continuing work on the Trans-Pacific Partnership despite opposition from presidential candidates.
- Executives want more free trade agreements and increased labor mobility between Canada, the US, and Mexico. A majority also support free trade with China.
- Confidence in the Canadian economy is growing but most still expect only low GDP growth globally and in Canada over the next decade.
- The new federal government receives mixed assessments
This document summarizes the US-China Business Council's priorities for strengthening commercial relations between the United States and China in 2016. It calls for finalizing a high-standard bilateral investment treaty, reducing foreign ownership restrictions in China, prohibiting cyber-enabled commercial espionage, and ensuring national security exceptions are applied narrowly. It also emphasizes promoting a level playing field for all companies in China, maintaining high-level bilateral dialogues, and building confidence in the relationship through steps like confirming use of market economy methodology in trade cases.
This document discusses the potential effects of mega-regional trade agreements like the Trans-Pacific Partnership (TPP) on the global trading system and Latin America. It notes that the TPP could impact the trade and integration of non-member Latin American countries into the world economy. It also examines how China has become a major global economic force and considers its growing influence, including through initiatives that sometimes counterbalance actions by the United States. Latin American countries are discussed as facing choices between engaging more with Asia-Pacific versus Atlantic/European partners.
The document provides guidance on promoting business interests during negotiations of the US-Korea Free Trade Agreement (FTA). It outlines key factors for a successful FTA, including high-level political support, comprehensive negotiations, and avoiding issues that are too controversial. It recommends that businesses develop outreach strategies, monitor negotiations closely, and voice their priorities and needs to US and Korean government officials throughout the process.
1) The document discusses the need for improved policy coordination in several areas including the WTO Doha Round negotiations, climate change measures, and international development aid.
2) In the WTO, a lack of leadership from the US and tensions over agricultural subsidies have stalled negotiations, but a proposal for China and the US to make concessions could provide an opportunity.
3) There is a risk of emerging climate protectionism as countries consider border carbon taxes, which developing countries view as unfair, so monitoring tools are needed.
4) The fragmented international development aid system needs restructuring to be more effective and predictable, and agreements are needed with new donors like China on transparent approaches.
This document summarizes the US-China Business Council's (USCBC) Board of Directors' Statement of Priorities in the US-China commercial relationship. It identifies several priority issues to strengthen the relationship between the US and China, including finalizing a high-standard bilateral investment treaty, reducing foreign investment restrictions in China, prohibiting cyber-enabled commercial espionage, ensuring a level playing field for all companies in China, and improving transparency in areas such as antitrust reviews and rulemaking. The statement calls for both governments to work with business to address these issues and further expand the mutually beneficial commercial relationship.
Lawyer in Vietnam Dr. Oliver Massmann New Comprehensive and Progressive Agre...Dr. Oliver Massmann
Lawyer in Vietnam Dr. Oliver Massmann New Comprehensive
and Progressive Agreement for the Trans-Pacific Partnership
signed by Members States - WHAT IS IN FOR YOU?
The document provides an overview of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It discusses the origins of the TPP agreement and how 11 countries agreed to continue it as the CPTPP after the US withdrew. Key commitments in the CPTPP beyond the WTO include further reducing tariffs, opening markets in services and investment, establishing rules for e-commerce, government procurement, and an investor-state dispute settlement mechanism. The CPTPP will help Vietnam access larger markets and attract investment while restructuring its economy. It is expected to boost Vietnam's exports by over 37% until 2025 by lowering trade barriers.
The document argues that Congress should vote down the Trans-Pacific Partnership (TPP) agreement for three key reasons:
1. The TPP's intellectual property regulations would transform copyright laws in overbearing ways that criminalize ordinary digital and internet activities and jeopardize online privacy.
2. The TPP's labor standards would only marginally benefit American workers.
3. The TPP's environmental standards are poor and inadequate.
The document contends that these aspects of the TPP should make Congress hesitate to pass the agreement.
The US M&A market closed strongly in 2016 after a slow start, with the highest quarterly total of the year in Q4. Political uncertainty and regulatory challenges impacted activity early in the year. However, confidence increased following Trump's election on a pro-business agenda. Fundamental drivers like access to cheap financing and the need for growth through acquisition remained positive for dealmaking. Key deals demonstrated strategic consolidation in sectors like technology, energy and chemicals. Cross-border activity also remained strong, with the US remaining an attractive target for overseas acquirers.
Bashar H. Malkawi, Society of international economics law newsletter 2020Bashar H. Malkawi
The document provides information on the following:
1. It lists the officers and executive council of SIEL and announces the next biennial conference will take place in July 2020 in Italy.
2. It summarizes recent publications by SIEL members and upcoming conferences, and calls for papers on topics like international investment law and natural resources governance.
3. It provides updates on other SIEL activities, including the SIEL/JIEL/OUP essay prize and job/studentship opportunities in international economic law.
This document provides background on the Trans-Pacific Partnership agreement and discusses its potential implications for balancing power in Asia between the United States and China. The TPP is a free trade agreement between 12 Asia-Pacific countries excluding China. If China does not join, it could lose significant economic growth and trade opportunities. While China was initially skeptical of the TPP, it is now considering joining to avoid isolation. The document also discusses China's rise as an economic power and its increasing use of military and economic institutions to expand its influence in Asia, which concerns the United States as it seeks to maintain a balance of power.
Financial Services in Transatlantic Trade and Investment PartnershipPatton Boggs LLP
The document discusses the inclusion of financial services regulations in the negotiations of the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and United States. While the EU wants financial services to be part of TTIP, the US administration has been hesitant. However, US Congress has pressured the administration to include it. If included, discussions would focus on harmonizing rules in areas like derivatives and capital standards. Private sector involvement could help shape discussions on properly interpreting regulations and their international effects.
Taiwan: Cross-border opportunities amid global changeWhite & Case
Disruptive forces continue to shape global markets, and Taiwanese businesses can take advantage of opportunities emerging amid these transformative trends.
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...Dr. Oliver Massmann
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What you must know:
More Related Content
Similar to Letter to Mr. Joe Biden Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Do not Drop your Slice of the Pie - From Dr. Oliver Massmann -General Director of Duane Morris Vietnam LLC
Canada's involvement in trans-pacific trade partnershipnikita kozlov
Canada's involvement in trans-pacific trade partnership. Presentation. Information was taken from special book about Canada in Trans-Pacific Trade Partnership...
For all those that missed out last month in Chicago, we’ve crafted a full round up of our 3PL Summit & CSCO Forum. There’s coverage of the major sessions at the event, as well as up-to-date market research on the latest trends set to impact the industry.
The document discusses the Trans-Pacific Partnership (TPP) trade agreement. It began as a smaller trade deal between Pacific nations but has expanded significantly. The TPP now includes 12 countries that make up 40% of global GDP. While negotiations have been secretive, provisions around reducing tariffs and harmonizing regulations are emerging. However, critics argue the TPP favors corporate interests over environmental and labor protections. Controversially, it also allows corporations to sue governments over policies that impact profits. Supporters believe the economic benefits of increased trade outweigh these concerns, but the full impacts remain uncertain.
It involves 12 countries: the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.
The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth.
Member countries are also hoping to foster a closer relationship on economic policies and regulation.
The agreement could create a new single market something like that of the EU.
Pretty big indeed. The 12 countries have a collective population of about 800 million - almost double that of the European Union's single market. The 12-nation would-be bloc is already responsible for 40% of world trade.
The deal is a remarkable achievement given the very different approaches and standards within the member countries, including environmental protection, workers' rights and regulatory coherence - not to mention the special protections that some countries have for certain industries
The survey asked C-Suite executives about the US presidential election, trade agreements, climate change policies, and assessments of the new Canadian federal government. Key findings include:
- The C-Suite prefers Hillary Clinton over Donald Trump for US President by a ratio of 3 to 1. They also support continuing work on the Trans-Pacific Partnership despite opposition from presidential candidates.
- Executives want more free trade agreements and increased labor mobility between Canada, the US, and Mexico. A majority also support free trade with China.
- Confidence in the Canadian economy is growing but most still expect only low GDP growth globally and in Canada over the next decade.
- The new federal government receives mixed assessments
This document summarizes the US-China Business Council's priorities for strengthening commercial relations between the United States and China in 2016. It calls for finalizing a high-standard bilateral investment treaty, reducing foreign ownership restrictions in China, prohibiting cyber-enabled commercial espionage, and ensuring national security exceptions are applied narrowly. It also emphasizes promoting a level playing field for all companies in China, maintaining high-level bilateral dialogues, and building confidence in the relationship through steps like confirming use of market economy methodology in trade cases.
This document discusses the potential effects of mega-regional trade agreements like the Trans-Pacific Partnership (TPP) on the global trading system and Latin America. It notes that the TPP could impact the trade and integration of non-member Latin American countries into the world economy. It also examines how China has become a major global economic force and considers its growing influence, including through initiatives that sometimes counterbalance actions by the United States. Latin American countries are discussed as facing choices between engaging more with Asia-Pacific versus Atlantic/European partners.
The document provides guidance on promoting business interests during negotiations of the US-Korea Free Trade Agreement (FTA). It outlines key factors for a successful FTA, including high-level political support, comprehensive negotiations, and avoiding issues that are too controversial. It recommends that businesses develop outreach strategies, monitor negotiations closely, and voice their priorities and needs to US and Korean government officials throughout the process.
1) The document discusses the need for improved policy coordination in several areas including the WTO Doha Round negotiations, climate change measures, and international development aid.
2) In the WTO, a lack of leadership from the US and tensions over agricultural subsidies have stalled negotiations, but a proposal for China and the US to make concessions could provide an opportunity.
3) There is a risk of emerging climate protectionism as countries consider border carbon taxes, which developing countries view as unfair, so monitoring tools are needed.
4) The fragmented international development aid system needs restructuring to be more effective and predictable, and agreements are needed with new donors like China on transparent approaches.
This document summarizes the US-China Business Council's (USCBC) Board of Directors' Statement of Priorities in the US-China commercial relationship. It identifies several priority issues to strengthen the relationship between the US and China, including finalizing a high-standard bilateral investment treaty, reducing foreign investment restrictions in China, prohibiting cyber-enabled commercial espionage, ensuring a level playing field for all companies in China, and improving transparency in areas such as antitrust reviews and rulemaking. The statement calls for both governments to work with business to address these issues and further expand the mutually beneficial commercial relationship.
Lawyer in Vietnam Dr. Oliver Massmann New Comprehensive and Progressive Agre...Dr. Oliver Massmann
Lawyer in Vietnam Dr. Oliver Massmann New Comprehensive
and Progressive Agreement for the Trans-Pacific Partnership
signed by Members States - WHAT IS IN FOR YOU?
The document provides an overview of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It discusses the origins of the TPP agreement and how 11 countries agreed to continue it as the CPTPP after the US withdrew. Key commitments in the CPTPP beyond the WTO include further reducing tariffs, opening markets in services and investment, establishing rules for e-commerce, government procurement, and an investor-state dispute settlement mechanism. The CPTPP will help Vietnam access larger markets and attract investment while restructuring its economy. It is expected to boost Vietnam's exports by over 37% until 2025 by lowering trade barriers.
The document argues that Congress should vote down the Trans-Pacific Partnership (TPP) agreement for three key reasons:
1. The TPP's intellectual property regulations would transform copyright laws in overbearing ways that criminalize ordinary digital and internet activities and jeopardize online privacy.
2. The TPP's labor standards would only marginally benefit American workers.
3. The TPP's environmental standards are poor and inadequate.
The document contends that these aspects of the TPP should make Congress hesitate to pass the agreement.
The US M&A market closed strongly in 2016 after a slow start, with the highest quarterly total of the year in Q4. Political uncertainty and regulatory challenges impacted activity early in the year. However, confidence increased following Trump's election on a pro-business agenda. Fundamental drivers like access to cheap financing and the need for growth through acquisition remained positive for dealmaking. Key deals demonstrated strategic consolidation in sectors like technology, energy and chemicals. Cross-border activity also remained strong, with the US remaining an attractive target for overseas acquirers.
Bashar H. Malkawi, Society of international economics law newsletter 2020Bashar H. Malkawi
The document provides information on the following:
1. It lists the officers and executive council of SIEL and announces the next biennial conference will take place in July 2020 in Italy.
2. It summarizes recent publications by SIEL members and upcoming conferences, and calls for papers on topics like international investment law and natural resources governance.
3. It provides updates on other SIEL activities, including the SIEL/JIEL/OUP essay prize and job/studentship opportunities in international economic law.
This document provides background on the Trans-Pacific Partnership agreement and discusses its potential implications for balancing power in Asia between the United States and China. The TPP is a free trade agreement between 12 Asia-Pacific countries excluding China. If China does not join, it could lose significant economic growth and trade opportunities. While China was initially skeptical of the TPP, it is now considering joining to avoid isolation. The document also discusses China's rise as an economic power and its increasing use of military and economic institutions to expand its influence in Asia, which concerns the United States as it seeks to maintain a balance of power.
Financial Services in Transatlantic Trade and Investment PartnershipPatton Boggs LLP
The document discusses the inclusion of financial services regulations in the negotiations of the Transatlantic Trade and Investment Partnership (TTIP) between the European Union and United States. While the EU wants financial services to be part of TTIP, the US administration has been hesitant. However, US Congress has pressured the administration to include it. If included, discussions would focus on harmonizing rules in areas like derivatives and capital standards. Private sector involvement could help shape discussions on properly interpreting regulations and their international effects.
Taiwan: Cross-border opportunities amid global changeWhite & Case
Disruptive forces continue to shape global markets, and Taiwanese businesses can take advantage of opportunities emerging amid these transformative trends.
Similar to Letter to Mr. Joe Biden Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Do not Drop your Slice of the Pie - From Dr. Oliver Massmann -General Director of Duane Morris Vietnam LLC (20)
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
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to enco...Dr. Oliver Massmann
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to encourage the development of rooftop solar power systems for self-consumption purpose
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.
Vietnam's Plan for Implementation of PDP8 – Key HighlightsDr. Oliver Massmann
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
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
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
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
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Letter to Mr. Joe Biden Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Do not Drop your Slice of the Pie - From Dr. Oliver Massmann -General Director of Duane Morris Vietnam LLC
1. Letter to Mr. Joe Biden
Comprehensive and Progressive Agreement for Trans-Pacific Partnership –
Do not Drop your Slice of the Pie
From Dr. Oliver Massmann – General Director of Duane Morris Vietnam LLC
Dear Mr. Biden,
With respect to your recent statement that you will rejoin the Paris Climate Agreement, we kindly
request you to also reconsider the possibility of your coming back to the CPTPP.
Dropping the CPTPP means that the U.S has lost access to government procurement of other
CPTPP countries, which amounts to USD 1.469 trillion. The high standard of the government
procurement chapter in the CPTPP can nowhere be found in existing international agreements.
Moreover, it could take the U.S another decade to reach a bilateral agreement with government
procurement standard as high as in the CPTPP. It is of utmost importance for the U.S to save time,
jobs, and of course, billions of dollars by rejoining the CPTPP instead of negotiating a new one.
We believe the following facts will help with your decision and clearly show how CPTPP would
help you to make America great again. What may interest you is the extremely high number of
government procurement in the CPTPP country members from which America could benefit.
As you may already know, the population of the CPTPP countries exceeds 513 million people as
of October 2020. The CPTPP countries account for 44.8 percent of U.S. total exports and 37.6
percent of U.S. general imports in 2014. By cutting over 18,000 taxes in regards to CPTPP, there
would be a great benefit for American im- and exporters by enabling them to enter new markets.
As the U.S. international trade commission estimates, the U.S. exports of goods and services to
the world would expand by USD27.2 billion by 2032 thanks to the CPTPP, while U.S. imports
would expand by USD48.9 billion.
In the following table, the data of each CPTPP country is listed to show you the procurement
market American investors may get access:
GDP (USD)
Government
procurement’s
percentage of GDP (%)
Total value of
Government
procurement (USD)
Australia 1.33 trillion 13.15 174,489,500,000
Brunei 10.65 billion 4.1 436,665,000
Canada 1.6 trillion 13.43 214,881,800,000
2. Chile 245.41 billion 2.9 7,116,890,000
Malaysia 336.33 billion 25 84,082,500,000
Mexico 1.04 trillion 5.16 53,664,600,000
New Zealand 193.55 billion 14.69 28,432,495,000
Peru 195.76 billion 17.6 34,453,376,000
Singapore 337.45 billion 10.25 34,588,625,000
Vietnam 340.6 billion 12 40,872,000,000
Japan 4.91 trillion 16.22 796,402,000,000
Note: Data taken in 2019 based on the IMF’s World Economic Outlook database, October 2019.
As shown above government procurement of the CPTPP states is $1.469 trillion in total!
How could America not want to get a slice of this fat pie?
The great advance of the CPTPP will be that even the three countries Vietnam, Malaysia and
Brunei which have not agreed to coverage of their government procurement ever before and are
currently not covered by an existing U.S. Free Trade Agreement or the Government Procurement
Agreement of the WTO (GPA), have undertaken to do so. This is a key export opportunity for U.S.
goods producers and services companies. Currently Chinese companies profit the most. 90% of
power, mining, manufacturing, ferrous and chemical projects of state-owned companies in
Vietnam are awarded to Chinese contractors. China State Construction Engineering Corp.
(CSCEC) keeps winning important contracts although it has a poor track record and has even been
blacklisted by the World Bank due to bribery charges. With CPTPP that market would be open to
US companies which probably would be welcomed.
Some Asian-Pacific and other countries have formal policies in place disadvantaging foreign
tenderers. CPTPP will make it possible for the first time that an American cooperation could sue
for example the Republic of Vietnam or Malaysia. The procedural and legal changes regarding
government procurement will enable U.S. exporters to reach markets that were closed before and
compete more effectively.
In addition Canada has agreed to replace the commitments in NAFTA and update them to the level
of CPTPP. The new level of GPA is based upon the WTO 2014 guidance and provides stronger
commitments than the NAFTA.
America cannot wait until bilateral agreements might be settled!
On 08 March 2018, the CPTPP was officially signed in Santiago, Chile. As international
agreements like NAFTA (4 years), COMESA (16 years) or SAFTA (9 years) require a lot of time
to be settled, bilateral agreements will do so as well. And there is no guarantee of success. In fact
3. it is rather unlikely. Countries like Malaysia, Brunei and Vietnam took huge steps by agreeing to
a regulation of government procurement. How long a bilateral agreement would take, may be
shown by the European Union - Vietnam Free Trade Agreement (EVFTA) which took 5 years to
reach the final negotiation. However, the EVFTA does not reach the standard of the CPTPP
regarding the Chapter on Government Procurement. The creation of a fair, transparent, predictable
and non-discriminatory market should not be postponed. The level of GPA might be as high as
never before. It is extremely unlikely that a better agreement could be negotiated but more likely
that the U.S. will be replaced by China or Russia. Japan’s Prime Minister Shinzō Abe already
stated that China would be a possible replacement. But not only Japan would turn towards China.
Negotiations of Australia, New Zealand, Vietnam, Malaysia, Singapore, Brunei regarding an FTA
with China already began. This is the time for the U.S. to take advantage of the CPTPP to create
an alternative economic power balance in Asia against China.
Skipping this agreement would cost America billions of money and would cut off American jobs.
Negotiating bilateral agreements would cost America many years, billions of Dollars and it is
highly unlikely that it would reach a GPA standard that would be even close to CPTPP.
Does the U.S. have time to wait to rejoin the CPTPP?
The answer is NO!
Sincerely,
Dr. Oliver Massmann
***
Please do not hesitate to contact the author Dr. Oliver Massmann under
omassmann@duanemorris.com. Dr. Oliver Massmann is the General Director of Duane Morris
Vietnam LLC, Member to the Supervisory Board of PetroVietnam Insurance JSC and the only
foreign lawyer presenting in Vietnamese language to members of the NATIONAL ASSEMBLY
OF VIETNAM.