The new regulations of the Ministry of Information and Communications (MIC) may affect the policies and assets of private businesses and foreign-invested enterprises in Vietnam.
Analysts estimate that foreign invested enterprises (FIEs) now hold 80% of the animal feed market share, while Vietnamese enterprises only have 20%.
Foreign-invested enterprises have become an important driving force for Vietnam’s economic development and international integration after 30 years since the country began attracting foreign direct investment (FDI).
Attracting high technology from foreign firms is still far from a reality in Vietnam, much to the bane of local enterprises.
Foreign invested enterprises and foreign partners to business cooperation contracts in Vietnam will be asked to pay 1 percent of their payroll to the trade union in line with the Law on Trade Unions.
Nearly 100 foreign invested enterprises gathered at a forum in Ho Chi Minh City on April 9 to discuss measures to promote their exports which last year accounted for 44 percent of Vietnam’s total export turnover.