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SURVEY

Foreign Trade - Customs

Foreign Trade - Customs

International Trade

 

Policies of the Vietnamese government on the international trade have been positively changed over the past 10 years. Vietnam always increases bilateral cooperation, particularly the Vietnam-US Agreement on Trade, participation to the ASEAN, APEC and integration into AFTA and Vietnam‘s participation to WTO at the end of 2007.

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Environment

Environment

The 2005 law on environmental protection requires adjustments to activities relating to environment. The Government passes the national environmental standards and adjusts it every 5 years or sooner. The national environmental standards include standards on quality of surrounding environments and standards of wastes applied to all individuals or enterprises.

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Banking

Banking

 

Vietnamese banking and credit system consists of Central Bank – also referred as Vietnam State Bank and other banks. The Vietnam state bank executes the state management role relating to currency and banking activities. It issues money and deals with monetary associated services for the government as roles of the state banking management agency as well as the central bank. Financial institutions include banks and non-banking institutions implement their roles in capital mobilisation, credits, payment and fund activities and other financial businesses. Apart from banking systems, there are non-credit institutions in Vietnam. These institutions (including credit and non-credit) shall be entitled to operations only when meeting all legal requirements and having certificate of establishment and operation granted by the Vietnam state bank.

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Competition

Competition

Vietnam Law on Competition is effective since July 1st 2005. Compared to other countries, the issuance of this law late, however the law covers some progressive regulations, especially modifications relating to behaviors and actions by the state owned enterprises which are not yet regulated by other countries. The competition Law has created a fair ground for all types of enterprises, provided legal foundations for a fair competition environment. Vietnam Competition Administration Department and Vietnam Competition Council (VCC) is the direct state management agencies relating to competition activities.

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Conflict resolution

Conflict resolution

Any dispute relating to investment activities in Vietnam shall be resolved through negotiation and conciliation, or shall be referred to arbitration or to a court in accordance with law in case it could be resolved through negotiation and reconciliation.

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Partners

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