Government pushes for reforms to improve business environment; Resolution 19/2015

HA NOI (VNS) — The Prime Minister will focus on improving the business environment and strengthening the economy’s ability to compete in 2015 and 2016.

Key areas of a Government resolution released yesterday include pushing for reforms to reduce time-consuming and wasteful administrative procedures, enhancing governmental offices’ transparency and accountability, and adopting regulations that are in accordance with international rules. Read more

Vietnam falling short in tackling corruption: Party Secretary Nguyen Phu Trong

Party Secretary - DT PCTNVietnam’s efforts to curb corruption have fallen short of expectations, the Communist Party said. The persistence of corruption across the country could deter future investment from overseas companies, according to Fred Burke, managing partner of Baker & McKenzie (Vietnam) Ltd. in Ho Chi Minh City. “Corruption in Vietnam is a serious consideration for foreign investors,” Burke, who is the representative for the American Chamber of Commerce in Vietnam on the Ministry of Justice’s Advisory Council on Administrative Procedure Reform, said in an e-mail. “It comes up in all kinds of businesses. When the consequences in today’s super-compliance minded global enforcement environment are taken into account, the Vietnam stop on their itinerary may just not be worth it.” Read more

Government sets metrics to improve business conditions and national competitiveness in “Resolution 19,” Mar 2014

PM Nguyen Tan DungThree of the key performance metrics include ASEAN-6 averages by 2015: reduce time required to start new businesses to no more than 6 days; reduce tax procedures to 171 hours/year; reduce the time for import to 13 days and export 14 days.

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HCM City ranked #35 of 100 cities

Vietnam ranked #35 of 100 Bestin the business environment quality-cost rankings of The World’s Most Competitive Cities in 2013, by Site Selection and IBM Global Services. But that ranking is based largely on cost factors rather than business environment quality factors. Click the image to left and scroll to page 3 to see the complete rankings list. Read more

VCCI/HCMC Training Session on VNACCS/VCIS, Mar 6, 2014

Customs 450x-Register for this training session on the new VNACCS/VCIS e-customs system, which becomes mandatory for all importers and exporters on Apr 1, 2014. Mời tham dự khóa tập huấn VNACCS /VCIS. Mời các anh, chi xdm file đính kèm. Registration FormAgendaInvitation Letter

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VNACCS/VCIS Implementation and Customs Risk Management

Customs 450x-An update on the new system, the underlying law, decree, circulars, and international commitments. All exporters and importers will be required to use the system starting Apr 1. View and download the presentation: VNACCS -VCIS & Customs Risk Management, Feb 27, 2014.

We have expressed some concerns and made recommendations to VN Customs in a January 27 letter, including a request for a “grace period” before applying sanctions, in the form of administrative fines or penalties, due to inadvertent errors based on misunderstandings by users or officials, or instances of noncompliance by importers, exporters, customs brokers or logistics providers caused by systems issues; the moratorium should last until 270 days (three quarters of a year) after defined targets, such as publication of the circular(s) providing regulatory guidance, and testing of the system based on a statistically appropriate sample of users under the principle of customs risk management. Read more

Request for comments: Draft Law on Investment

VBF-logo copyThe VBF would appreciate if you could send to the VBF Secretariat ([email protected]) comments/inputs to the Draft Law by February 14, 2014. Read more

Secretary of State John Kerry: Remarks to AmCham and Fulbright Economics Program

SecState John Kerry, Ambassador David Shear“I want to thank the American Chamber of Commerce. The American Chamber of Commerce Vietnam and the Vietnam Chamber of Commerce and industry have made just a gigantic difference here. AmCham’s experience in Vietnam has really ushered in a new era of cooperation for the bilateral trade agreement in 2001, to the WTO session in 2007, and now we are working on the TPP, Trans-Pacific Partnership. I’ll say a word about it.

But just think about this for a minute: Our bilateral trade has grown 50-fold, 50 times since 1995, to more than $25 billion a year now. Vietnam has the potential to become one of the United States’ leading economic partners in the region, and we’re going to continue to work at that. Read more

Trade Facilitation Agreement in the “Bali Package,” Dec 2013

Customs 450x-

The trade facilitation part is a multilateral deal to simplify customs procedures by reducing costs and improving their speed and efficiency. It will be a legally binding agreement and is one of the biggest reforms of the WTO since its establishment in 1995. Other agreements struck since then are on financial services and telecommunications, and among a subset of WTO members, an agreement on free trade in information technology products. The objectives are: to speed up customs procedures; make trade easier, faster and cheaper; provide clarity, efficiency and transparency; reduce bureaucracy and corruption, and use technological advances.

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WTO Ministerial “Bali Package,” Dec 2013

Impression“The WTO Trade Facilitation Agreement, which is the key element of the “Bali Package,” and part of the “Doha Package,” would simplify and harmonize dozens of administrative procedures and standards that dictate how goods cross borders or are handled in customs. It would drastically cut red tape that consumes precious resources for governments and companies, while slowing down supply chains, creating opportunities for corruption and increasing the cost of goods by an estimated 5 to 15 per cent.” – Victor Fung Read more