[Round-up] Vietnam, EU Move to Finalize EVFTA Ratification, Gov’t Pushes SOE Equitization

Tuan Minh

08:50 04/12/2017

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Vietnam and the EU are working to finalize legal issues for the EVFTA trade deal towards the official signing and ratification of the trade deal next year. Deputy Prime Minister Vuong Dinh Hue called for speeding up the equitization of state-owned enterprises.

[Round-up] Vietnam, EU Move to Finalize EVFTA Ratification, Gov’t Pushes SOE Equitization

Vietnam and the EU are working to finalize legal issues for the EVFTA trade deal towards the official signing and ratification of the trade deal next year.

Vietnam, EU Move to Finalize EVFTA Ratification
Vietnam and the European Union (EU) are working to finalize legal and language – related issues for the EU-Vietnam free trade agreement (EVFTA) towards the official signing and ratification of the trade deal next year, said Deputy Minister of Industry and Trade Tran Quoc Khanh.
At a workshop on the EVFTA held by the French Business Federation and the Asia Centre in Paris on December 1, Khanh emphasized the common goal of the two sides to effective implement the agreement after it is inked, adding that the Vietnamese government is outlining a specific plan for the application of the agreement.
Deputy PM Pushes SOE Equitization
Deputy Prime Minister Vuong Dinh Hue called for speeding up the equitization of state-owned enterprises (SOEs) at a recent meeting of the Steering Committee for Business Renovation and Development.
Hue asked relevant ministries to finalize the regulations describing the rights and obligations of State ownership representatives in order to boost SOE privatization. He also asked them to submit reports on the results of SOE restructuring in 2017 to the Government.
Casinos Could Bring $1.2 Billion to Vietnam
Union Gaming Securities Asia (Macau) estimates that if Vietnam has 30 casinos, it could earn $1.2 billion in gross revenue.
For many years, Vietnamese have been going abroad to gamble as domestic casinos were not open to them. Prof Ha Ton Vinh, who has conducted research on Vietnam’s gaming industry, estimates that Vietnamese bring $800 million every year to large casinos in the region, including Macau, Singapore and Cambodia.
Ministry Takes Actions in Response to EU’s Warning of IUU Fishing
The Ministry of Agriculture and Rural Development has approved a plan on implementing some urgent solutions in response to the European Union (EU)’s warning about illegal, unreported and unregulated (IUU) fishing.
Many solutions have been devised according to the EU’s recommendations. They include aligning the legal framework with regional and international regulations, effectively implementing the amended legal regulations on IUU fishing, and effectively implementing international regulations and management measures through strict punishment.
Vietnam to Grant E-Visas To Citizens of Six More Nations
Vietnam has extended its e-visa application scheme for visitors from six more countries, raising the list of beneficiaries to 46, in a bid to entice more foreign tourists.
Under the Government’s newly-issued Decree 124/NQ-CP, the six nations added to the list are Australia, the United Arab Emirates (UAE), Canada, India, the Netherlands and New Zealand.
Vietnam to Scoop Up More Cambodian Cashews
Vietnam, a major buyer of the Cambodian cashew nut, has unveiled a plan to purchase cashews in even greater volumes during next year’s harvest season, giving hope to farmers who rely on selling their crops at good prices from February through May.
Agriculture Minister Veng Sakhon told The Post yesterday that Cambodian officials and the Vietnamese Cashew Association have been working together to form a committee on cashew production which is expected to draft an agreement to export more Cambodian cashews to its eastern neighbor.
Korean Firms Eye Vietnam Partners
Executives from 20 companies based in the Republic of Korea’s Gyeongsangbuk-do Province met with nearly 90 Vietnamese counterparts in HCM City on December 1 to discuss business opportunities.
The companies operate in sectors like cosmetics; food; beverages; and agricultural produce like rice, fruits, and ginseng.
Hanoi Gets Its First McDonald’s
Global burger behemoth McDonald’s opened its first branch in the historic heart of communist Hanoi, a conservative city renowned for its traditional – and cheap – Vietnamese staples beloved by food-obsessed locals.
Hungry customers lined up for Big Macs and Chicken McNuggets at the Vietnamese capital’s first location overlooking the tree-lined Hoan Kiem lake, in a city that draws millions of tourists annually to see French-era colonial buildings and sample street-food favorites like pho noodle soup and banh mi sandwiches.
As many as 55,664 companies in Vietnam ceased operations and 11,814 others shut down in the 11 months through November, rising 3% and 3.3% from the same period last year, respectively, government data showed.
Vietnam collected 999.1 trillion dong ($44 billion) for state coffers year to November 15 while spending 1,065.7 trillion dong ($46.93 billion) on budget expenses, resulting in a fiscal deficit of 66.6 trillion dong ($2.93 billion) in the period, according to government data.  

TUAN MINH

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