APEC promotes investment climate reforms

The workshop took place under the umbrella of the AANZFTA Economic Cooperation Work Program (ECWP). “Australia is pleased to support the AANZFTA Economic Cooperation Work Program, which provides technical assistance and capacity building to developing ASEAN countries in their implementation of the AANZFTA”, said Ms Nadia Krivetz, Counsellor, Australian Embassy Vietnam, who spoke at the workshop. “This particular workshop supports moves towards a more open, predictable and transparent investment regime, a key to enhancing ASEAN’s competitiveness for foreign investment and stimulating investment within ASEAN.” “Activities under the AANZFTA Economic Cooperation Work Program also complement the work of ASEAN countries towards establishing the ASEAN Economic Community at the end of this year”, added Mr Robbie Taylor, Deputy Head of Mission, New Zealand Embassy. A number of ECWP activities are being undertaken in eight broad areas, linked to different aspects of the AANZFTA: rules of origin; sanitary and phytosanitary measures; standards, technical regulations and conformity assessment procedures; customs; services; investment; intellectual property; and competition policy. For Vietnam, in addition to a range of joint regional benefits, the ECWP recently assisted with the production of training modules on AANZFTA Rules of Origin in Vietnamese language; capacity building for intellectual property officers to conduct substantive patent examination; and strengthening the investigation skills of Vietnam Competition Agency officials. An investment policy review for Vietnam supported by the program is also underway and will be completed in 2015. Australia, New Zealand and Vietnam are all also engaged in the Trans-Pacific Partnership and Regional Comprehensive Economic Partnership…... [read more]

The Heads of State/Government of ASEAN Member States gathered in Kuala Lumpur and Langkawi, Malaysia for the 26th ASEAN Summit on April 26-27. At the end of the event, the Chairman’s Statement of the Summit was issued, in which ASEAN leaders shared their serious concerns expressed by some leaders on the land reclamation being undertaken in the East Sea (internationally known as the South China Sea). Following is the full text of the Chairman’s Statement of the 26th ASEAN Summit. 1. We, the Heads of State/Government of ASEAN Member States, gathered in Kuala Lumpur and Langkawi, Malaysia for the 26th ASEAN Summit on 26-27 April 2015, had productive discussions under the theme ‘Our People, Our Community, Our Vision’ which reflects the overarching spirit of Malaysia’s Chairmanship, namely to create a truly people-oriented, people-centred ASEAN comprising all areas of political and security cooperation, economic growth and socio-cultural development. 2. We expressed deep and heartfelt condolences to the Government and people of Singapore on the demise of former Prime Minister Lee Kuan Yew, a true Statesman who had made significant contributions to his country, to ASEAN and to regional community-building. 3. We fully supported the eight priorities for ASEAN outlined by Malaysia during her Chairmanship in 2015, namely to formally establish the ASEAN Community; to develop the ASEAN Community’s post-2015 vision; to steer ASEAN closer to its peoples; to strengthen the development of SMEs in the region; to expand intra-ASEAN trade and investments; to strengthen ASEAN’s institutions; to promote regional peace and…... [read more]

(CPV) - On April 8th-9th, around 30 senior policy officers and industry representatives from ASEAN, Australia and New Zealand gathered in Ho Chi Minh city at an investment policy workshop titled "Facilitating Implementation and Business Utilization of ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)". The workshop took place under the umbrella of the AANZFTA economic cooperation work program. "Australia is pleased to support the AANZFTA economic cooperation work program, which provides technical assistance and capacity building to developing ASEAN countries in their implementation of the AANZFTA. This particular workshop supports moves towards a more open, predictable and transparent investment regime, a key to enhancing ASEAN’s competitiveness for foreign investment and stimulating investment within ASEAN," said Ms Counsellor Nadia Krivetz, Australian Embassy to Vietnam. A number of ECWP activities are being undertaken in eight broad areas, linked to different aspects of the AANZFTA: rules of origin; sanitary and phytosanitary measures; standards, technical regulations and conformity assessment procedures; customs; services; investment; intellectual property; and competition policy. According to Mr Robbie Taylor, deputy head of mission, New Zealand Embassy to Vietnam, activities under the AANZFTA economic cooperation work program also complement the work of ASEAN countries towards establishing the ASEAN Economic Community at the end of this year. For Vietnam, in addition to a range of joint regional benefits, the ECWP recently assisted with the production of training modules on AANZFTA Rules of Origin in Vietnamese language; capacity building for intellectual property officers to conduct substantive patent examination; and strengthening the investigation skills of…... [read more]

The Association of Southeast Asian Nations (ASEAN) has teamed up with the Organisation for Economic Cooperation and Development (OECD) to support Myanmar renew its investment climate. According to the ASEAN Secretariat, meetings on the issue were held in the French capital Paris from October 15-17 by the OECD's Investment Committee, the Advisory Group on Investment and Development and the ASEAN Secretariat. The conferences reviewed the investment climate in Myanmar covering investment policies, responsible business conduct, investment promotion, taxation, infrastructure and finance and how to promote sustainable investment in agriculture. Myanmar's Deputy Minister of National Planning and Economic Development, Khin Yee San, introduced her country's efforts to improve the investment climate and reiterated her government's commitment to creating a more open environment for investors. Regarding OECD's recommendations, the Myanmar official said her country is working to ease the administrative burden on investors and simplify the screening process to reduce the amount of discretion of the Myanmar Investment Commission. She added that the country is also reviewing restrictions on foreign investors in some sectors and will issue revisions in coming months in order to support the OECD initiatives. The OECD Investment Policy Review of Myanmar, which has been undertaken with the support of the ASEAN Secretariat, will be finalised in the coming weeks and launched in Myanmar in February 2014. Seven similar investment reviews of ASEAN member states have been, or are currently being, undertaken in partnership with the ASEAN Secretariat. OECD was founded in 1962 to stimulate economic progress and world…... [read more]

The Department of Planning of Industry (DPI) has summarized the work in 2012 and implemented tasks in 2013. In 2012, DPI timely advised and helped provincial leaders direct implementation of the province's socio-economic development plans. In the past year, DPI received 114 application documents for project investment policy; advised the Provincial People's Committee (PPC) to announce the investment approvalfor 9 off-budget projects with a total registered capital of VND281 billion and 22 budget projects; verified and submitted to the PPC to issue certificates for 4 domestic investment projects, one foreign investment project. DPI also completed the pilot project of one-door, one-door-connected scheme at the unit ... In the year 2013, DPI continues to review, propose PPC to update, inspect, adjustsector development plan, approved fields. The unit will develop programs to promote and attract domestic and foreign investment; propagate, promote the State's policy on the investment environment, provincial preferential policies to mobilize, attract investment. DPI will continue advising the PPC on the investment policy; review and remove the difficulties of the off-budget projects after being informed investment policy; simultaneously submit to PPC to withdraw projectsnot implemented as committed. DPI coordinates with other related departments, agencies and localities to establish plans and strengthen post-examining plans ... On this occasion, per procuration of The state President, PPC Vice Standing Chairman , Mr. Le Van Truc awarded third-class Labor Medal to three individuals, merit certificates from the Prime Minister to two collectives and three individuals of DPI. The Minister of Planning and Investment, PPC…... [read more]

Still attractive after all these years (11-02-2009) UN group applauds Viet Nam's ongoing success in drawing foreign investment. Tran Phu Electrical Mechanical Co makes electrical wire. A UN report has applauded Viet Nam's 'impressive transformation' from an agricultural-based economy to one with a booming private sector. — VNA/VNS Photo Quang Hai GENEVA — The UN Conference on Trade and Development (UNCTAD) reviewed Viet Nam's investment policies and progress in attracting foreign direct investment in recent years, at a meeting in Geneva, Switzerland, on Monday. Bangladeshi Ambassador to the UN Debapriya Bhattacharya, who chaired the UNCTAD meeting, said Viet Nam deserved special attention from the international community due to its "impressive growth and booming foreign investment." The UNCTAD report, as well as remarks by Bhattacharya and UNCTAD acting deputy secretary-general Lakshmi Puri, highlighted Viet Nam's success in the attraction and disbursement of foreign capital. "Viet Nam has undergone an impressive process of transformation from an isolated, poor and collectivised agriculture-based economy into a booming nation with a dynamic and diversified private sector coexisting with a large public sector, fully integrated into the world economy. It underscores that poverty has been reduced at one of the fastest rates in history," said the UNCTAD report. "The report shares our viewpoint that FDI is a driving force for economic growth and poverty alleviation and that FDI contributions to Viet Nam's development are greater than in any country in the region," said Deputy Prime Minister Hoang Trung Hai, who led a Vietnamese delegation to the…... [read more]

Hanoi Times - Vietnam's record new foreign direct investment (FDI) of $31.6 billion is regarded as a bright spot in the nation's slowed-down economic panorama for the first half of the year. Yet, policy makers are scratching their heads over meeting foreign investors' increased requirements and dealing with associated FDI problems. Ministry of Planning and Investment reports indicate that Vietnamese workers at foreign-invested enterprises topped 1.36 million at the end of June. Despite occupying a negligible percentage of Vietnam's labour force of around 46.6 million, foreign-invested enterprises' (FIE) demand for local workers, principally those who are classified as skilled, grew between 20-30 per cent per year - a level which was much faster than that of state-owned or domestic private enterprises. The growth is forecast to rise higher in parallel with the estimated $10 billion in FDI capital that would be disbursed within the country this year. In this context, Uwe Hoelzer, managing director of the wholesaler Metro Cash&Carry Vietnam, said that human resource policies in Vietnam had become o­ne of the biggest and most difficult challenges. "Even in the case of our well-know, international, successful and well-paying company, it's difficult to find well-educated and skilled people. And staff retention in Vietnam is a really huge problem," Hoelzer said, adding that his company loses up to 30 per cent of its employees each year. KeunHyungPark, senior deputy director of Kotra Hanoi - a Korea business support centre, said that labour shortages were becoming a great problem for the almost 2,000…... [read more]

Time to open more to FDI, says UN report (19-12-2007) HA NOI — Viet Nam should open new sectors of its economy, particularly services, to foreign investment, advises the United Nations Conference on Trade and Development (UNCTAD). The opening to foreign investment was the way to realise the full potential of FDI, it says in its draft Investment Policy Review for Viet Nam. The report emphasises FDI flows into Viet Nam have been focused on manufacturing for exports. Little has gone for services Manufacturing accounted for 44.8 per cent of FDI between 1995-2000 and rose to 69.5 per cent in 2001-06, the review says. "The country should consider strategies to promote FDI in physical infrastructure and human resource development to avoid future bottlenecks," said UNCTAD researcher Quentin Dupriez. New investment in telecommunications, transport, electricity and education would benefit Viet Nam's sustained economic development. Co-author of the review, Dupriez presented the draft for discussion at a seminar organised by UNCTAD in collaboration with the Planning and Investment Ministry in Ha Noi yesterday. Although Viet Nam had opened to foreign investment only in 1987, response from international investors had been strong, he said. Now the country was seen as viable alternative to China and an opportunity for risk diversification. The researcher said there was a strong correlation between FDI inflows and Viet Nam's real Gross-Domestic-Product growth during the past 20 years. Foreign-invested enterprises produced 13 per cent of GDP, almost 40 per cent of industrial output and 60 per cent of exports…... [read more]

HCM City, August 21 (VNA) – Working groups and sub-committees of the Asia-Pacific Economic Cooperation (APEC) will continue discussions on issues of their charge in Ho Chi Minh City on August 21 as part of the third APEC Senior Officials’ Meeting (SOM 3).  There will be meetings of the Health Working Group, the Emergency Preparedness Group, the Investment Experts’ Group and the Market Access Group.  Besides, officials from APEC member countries will talk matters regarding the automotive and chemical sectors, customs procedures, standards and conformance, life sciences innovation, anti-corruption, electronic commerce, and illegal logging.  The SOM 3 and related meetings brought together around 2,600 delegates from 21 APEC member economies.  Slated to last until the end of the month, the event features 75 meetings, seminars, and dialogues involving four committees and dozens of working groups of the APEC.  In the Mekong Delta city of Can Tho, apart from meetings on policy partnership on food security, ocean and fisheries, the Food Security Week will feature an exhibition on agriculture and advanced agro-production technologies on August 21.  APEC is the Asia Pacific region’s premier economic forum. The primary goal is to support sustainable economic growth and prosperity in the region.  It aims to build a dynamic, sustainable and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, and facilitating a favorable and sustainable business environment. APEC initiatives turn policy goals into…... [read more]

NDO/VNA – Working groups and sub-committees of the Asia-Pacific Economic Cooperation (APEC) will continue discussions on issues of their charge in Ho Chi Minh City on August 21 as part of the third APEC Senior Officials’ Meeting (SOM 3). There will be meetings of the Health Working Group, the Emergency Preparedness Group, the Investment Experts’ Group and the Market Access Group. Officials from APEC member countries will talk on matters regarding the automotive and chemical sectors, customs procedures, standards and conformance, life sciences innovation, anti-corruption, electronic commerce, and illegal logging. The SOM 3 and related meetings brought together around 2,600 delegates from 21 APEC member economies. Scheduled to last until the end of the month, the event features 75 meetings, seminars, and dialogues involving four committees and dozens of working groups of the APEC. In the Mekong Delta city of Can Tho, apart from meetings concerning policy partnership on food security, ocean and fisheries, the Food Security Week will feature an exhibition on agriculture and advanced agro-production technologies on August 21. APEC is the Asia Pacific region’s premier economic forum. The primary goal is to support sustainable economic growth and prosperity in the region. It aims to build a dynamic, sustainable and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, and facilitating a favorable and sustainable business environment. APEC initiatives turn policy goals into concrete results and agreements into tangible benefits.... [read more]




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