Trade & Investment
From The Report: Vietnam 2017
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Vietnam’s economic success over the past three decades has been built in no small part on its openness to international trade and investment. It is now among the world’s most open economies, according to the IMF – in the last 15 years alone, its share of world trade has quintupled, with combined imports and exports now equal to around 160-170% of GDP. Along with its location, Vietnam’s political and social stability, and the consistency of its legislation regarding trade, make it a natural base for manufacturers feeding into global supply chains, where reliability of supply is a prerequisite.

This chapter contains interviews with Nguyen Chi Dung, Minister of Planning and Investment; Lim Hng Kiang, Singapore Minister for Trade and Industry (Trade); and Cecilia Malmström, European Commissioner for Trade.

Articles from this Chapter

Overview

Bucking the trend: Foreign direct investment and trade continue to climb
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Vietnam’s economic success over the past three decades has been built in no small part on its openness to international trade and investment. It is now among the world’s most open economies, according to the IMF – in the last 15 years alone, its share of world trade has quintupled, with combined imports and exports now equal to around 160-170% of GDP. Driving Force Foreign direct investment (FDI) in export-oriented manufacturing in particular has been a boon to the economy, helping drive…

Interview

Open for business: Nguyen Chi Dung, Minister of Planning and Investment, on the investment climate and the importance of regional cooperation
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Interview:Nguyen Chi Dung What factors have improved Vietnam’s attractiveness as an investment destination? NGUYEN CHI DUNG: The development of Vietnam is being bolstered by many favourable factors, particularly internal ones. Vietnam is a country with security and political stability; there are no problems related to ethnic conflict or terrorism. Our legal system is becoming increasingly transparent, meeting international standards. Additionally, Vietnam is a large market with over 92m…

Interview

Greater access: Lim Hng Kiang, Singapore Minister for Trade and Industry (Trade), on trade facilitation and investment opportunities
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Interview:Lim Hng Kiang How can the mechanisms for coordination within the ASEAN Economic Community (AEC) help encourage trade between Singapore and Vietnam? LIM HNG KIANG: There are several existing platforms and mechanisms at the ASEAN forum which Singapore and Vietnam can leverage to better coordinate with each other and with other ASEAN member states to facilitate the implementation of the AEC. These include the Coordinating Committee on the ASEAN Trade in Goods Agreement (ATIGA). This…

Analysis

Neighbourly relations: Readying for integration into the ASEAN Economic Community
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Vietnam has been a member of the ASEAN since 1995, when it joined as part of its ongoing process of integrating into the global economy and opening to the world. In recent years, it has taken an increasingly active stance in the organisation, while its economy has closed the gap on the more affluent founding members. The bloc’s combined GDP of $2.6trn and market of more than 600m people is enticing for many Vietnamese companies. However, others fear that intensifying regional competition will…

Analysis

A landmark deal: A trade agreement with the EU is set to be signed in 2018
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The EU is one of Vietnam’s biggest trading partners, accounting for nearly a one-fifth of the country’s exports. Hanoi established diplomatic and commercial relations with the bloc in 1990, not long after the beginning of theDoi Moieconomic and political reforms. This was followed by a cooperation agreement in 1995 which gave Vietnam most-favoured-nation status. Key Partner Vietnam’s trade with the EU in the first 11 months of 2016 totalled $40.76bn, according to Vietnam Customs.…

Interview

Talking trade: Cecilia Malmström, European Commissioner for Trade, on growing investment opportunities in ASEAN
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Interview:Cecilia Malmström What steps can be taken to ensure that current EU-ASEAN free trade agreement (FTA) negotiations do not end in another impasse? CECILIA MALMSTRÖM: During the 13th ASEAN Economic Ministers-EU Trade Commissioner Consultations held in Kuala Lumpur on April 26, 2015, all parties agreed that events had moved on since the negotiations had been put on hold, and there was a need on both sides to take stock of these developments. Senior officials reported to ministers…

Interview

Talking trade: Cecilia Malmström, European Commissioner for Trade, on growing investment opportunities in ASEAN
OBG
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Interview:Cecilia Malmström What steps can be taken to ensure that current EU-ASEAN free trade agreement (FTA) negotiations do not end in another impasse? CECILIA MALMSTRÖM: During the 13th ASEAN Economic Ministers-EU Trade Commissioner Consultations held in Kuala Lumpur on April 26, 2015, all parties agreed that events had moved on since the negotiations had been put on hold, and there was a need on both sides to take stock of these developments. Senior officials reported to ministers…