US investment in Vietnam kept its strong pace in 2019, and is expected to rise further on the back of business improvements and the country’s developments on emerging technology rules.
The Vietnamese government has insisted that regulations requiring foreign service providers such as Facebook and Google to establish branches or representative offices in Vietnam is justified and in line with international standards.
Prime Minister Nguyen Xuan Phuc expressed his wish that US enterprises strong in digital economy will enhance cooperation and transfer technology to Vietnam during a reception in Hanoi on September 10 for Executive Director of the American Chamber of Commerce in Vietnam Adam Sitkoff.
The US-China trade friction is expected to help boost foreign direct investment in Vietnam, fast-tracking an already strong trend of foreign firms veering away from China, where rising costs are worrying investors.
The Ministry of Finance is proposing to levy a special consumption tax of 10% on sweet drinks to combat child - and adult - obesity rates, a problem worrying Government and health experts. However, many business people disagree with the proposal.
Clear, transparent and efficient policies are needed to encourage more foreign investors to jump into the Vietnamese securities market if it is to reach its considerable potential.
The Central Institute for Economic Management (CIEM) released a report on October 30 on the actuality of strategic shareholders’ involvement in State-owned enterprises’ (SoEs) equitisation process, which they concluded to be below expectations.
Vietnam’s telecommunications industry has become the target of many large US firms, thanks to the Trans-Pacific Partnership, which will see the gradual opening of its doors to the agreement’s other 11 member countries.