News

• Corruption still haunts businesses

  November 02, 2013

  Businesses complain that corruption is one of the three most headache-causing problems they are facing after price hikes and falling revenue.

  According to surveys on corruption faced by local enterprises conducted by the World Bank and the Government Inspectorate between 2007 and 2012, enterprises have seen no signs of corruption abating and they think that the situation has become more widespread.

  However, the surveys also found that Vietnamese enterprises were believed to have played an active role in giving bribes to corrupt officials. More than 75% of the surveyed enterprises said they have given bribes despite not being suggested to do so, 59% informed they had handed gifts or money to State officials while 63% replied that they gave money so that their business troubles would be solved quickly.
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• Actions needed to avert manufacturing base situation

  November 02, 2013

  While Chinese traders have massively purchased farm product in the local market, Chinese companies are doing their best to entice Vietnamese businesses into importing Chinese goods. They are also deepening their presence here through strengthened partnership with or acquisition of local enterprises. That Vietnam is becoming a manufacturing base of her northern neighbor may be imminent.

  Since early this year, many enterprises in the jewelry industry in HCMC have regulatory received invitations to visit factories in China as well as incentives for Chinese jewelry. “Incentives such as delayed payment schedules and cheap prices-pledges to provide all best-selling designs for the Vietnamese market-have been offered,” said Nguyen Van Dung, chairman of the city’s Fine Arts and Jewelry Association.
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• Government orders probe into 3G fee hike

  October 29, 2013

  The Ministry of Industry and Trade has been asked to instruct the Competition Management Department to investigate the 3G fee hike by mobile service providers Viettel, MobiFone and VinaPhone starting from October 16.

  According to the Government Office, Deputy Prime Minister Hoang Trung Hai has required investigation into such a fee hike after the media continuously suggested that the fees were increased on the same day and by the same amounts, showing signs of collusion among the three providers who used their market domination to violate the Competition Law.

  Therefore, the Government ordered that related authorities launch the probe, and take punitive sanctions against the three firms if evidence of violation can be established.
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• The Fine Print: competition clauses in new Telecom Law

  October 28, 2013

  Fair competition seems to be one of the forgotten aspects of the new telecommunications law promulgated this October

  While most industry observers focus on such important elements of the law as the spectrum, length and conditions of concessions and so on, the clauses governing competition are just as important, not least from the consumers’ point of view.

  In line with the general provision of article 36 of the Constitution, the new law (in chapter 11) stipulates that operators are not allowed to practise unfair conduct against other operators that could affect competition.
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• TPP talks move towards creating intellectual property deal by end of 2013

  October 28, 2013

  At the conclusion of the first Trans-Pacific Partnership meeting to be held in Tokyo, the working group meeting on intellectual property said they will be working on fast-tracking a deal by the end of 2013. This has been one of the major sticking points for the free trade negotiations between the 12 member countries of the US-led TPP.

  Japan’s deputy chief negotiator Hiroshi Oe said in a press conference that during the five-day meeting, they were able to discuss all the necessary issues in order to move the talks forward. However, he cautioned that it would be too “optimistic” to say that everything is a go already, comparing the TPP talks to climbing a mountain. Despite not mentioning any of the details of the meeting, he assured the media that they are speeding up the work to make it by the end of the year.
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• Door wide open for shrimp export

  October 26, 2013

  A recent official determination of the U.S. International Trade Commission (ITC) has exempted Vietnamese shrimp from anti-dumping tax and anti-subsidy lawsuits. This decision has opened up a great opportunity of boosting shrimp exports in the coming time for Vietnam.

  Late last month, ITC announced that frozen warm-water shrimp imports from Vietnam and four other countries, namely China, Ecuador, Malaysia and India, did not affect the U.S. shrimp in industry as previously condemned by the U.S. Department of Commerce (DOC). The ITC ruling also means shrimp imported from Vietnam and these four countries do not face U.S. anti-subsidy duties.
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• Consumers fight power price hike

  January 13, 2009

  The Ministry of Industry and Trade (MIT) has asked the Government to increase electricity prices between 8.3 and 9.8 per cent in the first quarter of this year.

  Electricity workers install public lighting system on Tran Khat Chan Street in Ha Noi.

  However, many businesspeople, economic experts and residential consumers said that if the Government was trying to hold-off recession, the move should be more carefully considered.

  Nguyen Chi Nguyen, Deputy Chairman of the HCM City Food and Foodstuff Association, said an increase in power prices would cause the prices for many goods to rise.
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