Most Vietnam SMEs are not benefitting from export growth

Small businesses sidelined in VN's export boomDespite rapid export growth in recent years, the ratio of export business is falling at domestically-owned firms. FDI enterprises contributed to 61.4% of the total export revenues in 2013. However, most of these businesses are engaged in labor using imported raw materials and are less connected to domestic suppliers. In other words, most Vietnamese companies are not benefitting from export growth. Read more

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