News

• This time it’s different

  April 4, 2015

  – One deal is unfolding after another in the M&A (mergers and acquisitions) sector in Vietnam. The situation may anticipate a new wave of investment in the country, succeeding a similar trend 20 years ago. Warrick Cleine, Chairman and CEO of KPMG in Vietnam and Cambodia, gives some insights into the new wave of investment in Vietnam and what the local corporate sector should do to face the challenge successfully.
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• Getting ready for the ASEAN Community

  March 30, 2015

  – HA NOI — Tax-related policies are among key measures the Government has taken to improve the business community’s capacity to cope with competition when the ASEAN Economic Community (AEC) begins operations late this year.

  The establishment of the AEC provides both opportunities and challenges for Viet Nam’s business community. It will help Viet Nam expand markets, but at the same time attract fiercer competition at home, particularly in industrial and agricultural sectors.
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• Compete, co-operate, firms urged

  March 28, 2015

  – HCM CITY — Viet Nam is in the process of reaching various free trade agreements (FTA) with its partners, and for survival and growth, they should seek opportunities and connections while competing in the market.

  Speaking at a workshop on business leadership and management in HCM City on March 27, 2015, Vo Tri Thanh, deputy director of the Central Institute for Economic Management (CIEM), said that companies would have to learn how to cooperate and connect while accepting competition.
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• To have no more fruitless attempts

  March 21, 2015

  – In recent years, numerous scandals have erupted relating to the relationship between businesses and consumers in various fields, such as poisoning breads or bottled soft drinks with foreign objects like files, bugs or shredded rags. The public is deeply concerned about cases in which losses are deemed for the consumer who is defined as the weaker party and should have been protected by relevant authorities.
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• Myanmar’s new Competition Law: an important first step in the right direction

  March 13, 2015

  – On February 24, 2015, Myanmar enactedits competition law (The Pyidaungsu Hluttaw Law No.9/2015) (“Competition Law”). The Competition Law will come into force at a time determined by the President and is currently awaiting the expiry of the statutory 90-day waiting period within which the Myanmar government is to introduce rules and regulations to implement the Competition Law (“Rules”).
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• Competition law arrives

  March 12, 2015

  – The recently-passed Competition Law could shake up business methods, though it remains to be seen how effective it will be in practice.

  Like similar laws in other jurisdictions, the object is to protect public interest from monopolistic acts, speculation in goods or services, unfair competition, abuse of a dominant position and economic concentration which weakens competition, according to a briefing note from legal advisory firm VDB Loi.
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• Ministry launches app to combat errant traders

  March 1, 2015

  – Consumers who face problems with errant traders after the implementation of the goods and services tax (GST) on April 1 may channel their complaints through a smartphone app

  Domestic Trade, Cooperatives and Consumerism Minister Datuk Hasan Malek said through the application “EZ Complaint”, consumers would be able to channel complaints in photograph form as evidence, direct to the E-Complaint system.
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• Competition Law enacted

  March 1, 2015

  – Anyone in business that injures the public interest through monopolisation or the manipulation of prices with the intent of endangering fair competition in economic activities shall be given a prison sentence of up to three years, fined Ks15 million or both, says the new Competition Law.
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