TPP Agreement: Google, Gm, etc suggest America to be more flexible in negotiating with Vietnam

Many large American Corporations such as: Google, General Motor, American Eagle show the strong support to Vietnam, specifically that America should be more flexible in negotiating  TTP Agreement with Vietnam.

During the visit in America on 16^th September, Vice President of Vietnam, Mr Vu Van Ninh met Representatives of more than 30 large enterprises in America, US-Asean Association Business Council (USABC) and American Chamber of Commerce in Vietnam (Amcham)

Vice Chairman of Amcham, in charge of Asia region, Mrs Overby said that the agreement of TPP is really important and meaningful to all participating parties and she also emphasized that all participants have to sacrifice small part of their benefit, but they can get much more return after being members of TPP.  

Vietnamese Representative added that the gap of developing level between participants is significant,while joining requirements are quite intensive. Therefore, to participate and implement TPP Agreement, Vietnam needs a period of time to prepare resources, knowledge to meet those requirements of wide opening market like TPP.

In addition, Vice President also suggested that America should ease those standards of participating TPP particularly with Vietnam. And then, Vietnam also have to make strong promise of contribution after become a member.

The most difficult and challenging discussion is about Intellectual owner, and Electronic commerce which are still very new and are developing in Vietnam.

Many large American Corporations such as: Google, General Motor, American Eagle show the strong support to the point that America should be more flexible in negotiating  TTP Agreement with Vietnam, especially about textiles and footwear products.

On the other side, the Enterprises also comment about the processing of negotiating TPP and give some suggestions aiming to speed up the negotiation progress.

Vice President, Vu Van Ninh gave high appreciation with the sharing of American Enterprise Community and promised to continue favoring for foreign Investment in general and American one in specific.

(Ref: cafef.vn)

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US Enterprises pay attention to Vietnam

In Vietnam Business Federation (VBF) which happened on 5^th June 2014, the US enterprise delegation including many big corporations such as Mead Johnson, General Atlantic, and AES, Marsh&McLennan, Qualcomm,etc, leading by Mr Alexander C.Feldman, President of Business Council US-Asean had business travel to search for investment opportunities in Vietnam. Mr Feld Man said to Minister of Investment and Planning: “We come to Vietnam this time to continue our concern and trust to promote investment in Vietnam”. He also said that, there was no any bigger US delegation of enterprises came to Vietnam before. That shows how attractive Vietnamese investment environment is and how much concerning US government care about Vietnam. In the near future, TPP Agreement will be approved soon, that will be a large opportunity for the investors who are interested in doing business in Vietnam.

At the end of April 2014, Exxon Mobil Corporation reported to Ministry of Investment and Planning about Project of Gas-Electric in Middle of Vietnam with the total capital up to US$20 Billion. Almost US Investors believe that there will be more and more US companies choosing Vietnam as a potential destination for investing replaced for China and Thailand.

( Source: US Embassy)

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Vietnamese Government

A socialist country, Vietnam is under the leadership of the Communist Party, which holds a national congress every five years to outline the country's future course, and formalise policies. The 450 member National Assembly - also open to non-party members - is the supreme organ of state, and the only body with constitutional and legislative power. The National Assembly elects the President of the State and the Prime Minister.

The President has the right to nominate candidates for a number of key positions, including the Chief Justice of the Supreme People's Court, and the Procurator-General of the People's Office of Supervision and Control. The National Assembly then approves nominees. The Prime Minister, who is charged with the day-to-day handling of the Government, has the right to nominate and dismiss the members of his cabinet, though only with the approval of the National Assembly. He also has at his disposal the power to cancel or suspend decisions or directives issued by the ministries.

Current policies reflect a flexible, less authoritarian approach. Vietnam is now becoming a freewheeling and dynamic society.

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People in Vietnam

Vietnam’s population stood at around 89.7 million (est.) in 2013. The average population density is about 240 people per sq. km.

Of the 54 ethnic groups, those of Kinh (Vietnamese) descent account for 88% of the total population. The adult literacy rate is 93%. Approximately 57% of the population is employed in agriculture and nearly half is under the age of 25.

Literacy rate for the population ages 15 years and over 94% in 2009. Currently, the Government has given priority to developing quality training and education system.

Major religion is Buddhism, Confucianism, Taoism and Christianity.

Language

Vietnamese is the most popular and national language. English is the most popular foreign language and widely spoken in some urban areas. English study is obligatory in most school. Other foreign languages like French, Chinese, and Japanese are common.

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