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Transcript of Vietnam
By: Amy, Nicholas, Ouleiyah Recommendation & Conclusion Conventional long form: Socialist Republic of Vietnam
Conventional short from: Vietnam
Local long form: Cong Hoa Xa Hoi Chu Nghia Viet Nam Type of Government, Political parties, Ruling President/Prime Minister The Socialist Republic of Vietnam is :
A Single-Part Social Republic frame work, where the President of Vietnam is the head of state and the Prime Minister of Vietnam is the Head of Government, in a one party system led by the Communist Party of Vietnam.
1. President: Truong Tan Sang (July.2011)
The President is the Head of State & elected by
the National Assembly to represent the Socialist
Republic of Vietnam in domestic and foreign affairs.
He also acts as the commander-in-chief of the
Vietnam People's Armed Forces and Chairman
of the Council for Defence and Security.
2. Prime Minister: Nguyen Tan Dung (June.2006)
The Prime Minister is the main executive state power of Vietnam
at the Government level, The executive branch is
responsible for the implementation of political, economic, cultural, social, national defence, security and external activities of the state.
3. The General Secretary: Nguyn Phú Trng (Jan.2011)
Is the highest office within the Communist Party of Vietnam.
The general secretary is also the Secretary of the Central Military Commission, the leading Party general on military affairs Historical Background of Vietnam #7 Natural Resources:
- Minerals; coal, phosphates, iron, manganese, bauxite, chromate, aluminum, tin, oil, and gas deposits.
- Agriculture and Forestry products; Rice, corn, sweet potatoes, peanuts, soybeans, rubber, lacquer, coffee, tea, tobacco, cotton, coconut, sugar cane and tropical/subtropical fruits.
- Timber and hydropower #8. Population Information:
280.35 people/km sq.
according to the World Bank (2010)
Total: 28.2 years
Male: 27.1 years
Female: 29.2 years (2012 est.) Literacy Rate(s):
Adult total: 92.78%
Female: 90.5% (2009)
*This accounts for people 15 years-old
and over who can read and write. Sex Ratios:
At birth: 1.12 male(s)/female
Under 15 years: 1.1 male(s)/female
15-64 years: 1 male(s)/female
65 years and over: 0.62 male(s)/female
Total population: 1 male(s)/female (2011 est.) Life Expectancy:
Total population: 72.41 years
Male: 69.95 years
Female: 75.16 years (2012 est.) #9. Ethnic Groups
According to a 1999 census, the population of Vietnam is composed of the following ethnic groups:
Kinh (Viet) 85.7%,
Note: There are 54 ethnic groups in total residing in the country. Ruling Power & Branches of Government
The National Assembly of Vietnam
is the highest-level representative body of the people and state.
Policy decisions introduced at Central Committee level, & passed on to a The National Assembly
a 498-member unicameral body elected to a five-year term
meets twice a year.
Members elected at local level every five years. Candidates are approved by the Party.
to decide on important national issues,
to exercise supreme supervision over all activities of the State
Power to draw up, adopt, amend the constitution
Defines its own role and the roles of the Vietnamese State President, the Vietnamese Government, the local people's councils and people's committees, the Supreme People's Court, and the Supreme People's Procuracy.
the power to initiate or conclude wars Ruling Party : The Communist Party of Vietnam (CPV) Th CPV has been in power since 1954 (in northern Vietnam) and since 1975 (in the entire country). The Communist Party of Vietnam is organized according to the Marxism-Leninism principle of Democratic centralism:
a communist ideology, based upon the theories of Karl Marx.
all leaders must be elected by the people and all proposals can be debated.
once a decision is reached, all have the duty to obey it (democratic centralism,this is to prevent any splits in the government. )
& When applied to the society as a whole, it creates a one party system in the country. National Congress
the highest institution of the CPV
members decide the direction of the party and the Government
held once every five years since 1976
elects the Central Committee.
In between party congresses, the Central Committee is the supreme agent of party affairs
appoints the president, prime minister (after being approved by the National Assembly)
meetings are held twice a year
175 full members and 25 alternate members
delegates some of its powers to the Politburo/ Secretariat/ General Secretary, the highest party office, when not in session. Duty of the Politburo to ensure that resolutions of the Party Congress and the Central Committee are implemented nationally.
Secretariat is headed by the General Secretary,
oversees the work of the Departments of the Central Commmittee. Constitution The current Constitution was adopted by the 8th National Assembly in 1992.
fundamental legal document of highest legal jurisdiction that institutionalizes basic economic and political reforms, socialist goals, socialist democracy and citizens’ freedom rights.
previous Constitutions (1946, 1959, and 1980). The 1992 Constitution is the
The Constitution indicates that the state power is in the hand of the people. The people use the state power through the National Assembly and people’s councils. These agencies are elected by the people.
According to the Constitution, Vietnam is "in the period of transition to socialism" A Long continues struggle for autonomy, freedom and independence. Ruled by the China from 111 B.C. to 939 A.D.
Colonized by France for over a Century.
France took territorial control over what are now the nations of Vietnam, Laos, and Cambodia. They set their capital of Saigon.
France rule lasted until WWII, when the country was invaded by Japan, on March 9th, 1945 France lost territorial control to the Japanese. War against the French attempts to re-colonize, lasting another nine years.
War ended in 1954, leaving the country divided:
Communist north (remained as the Democratic Republic of Vietnam ) and an anti-Communist south
Tension between north and south,war erupted in 1964. The conflict lasted for the next eight years.
In 1973 a cease-fire agreement allowing U.S to withdraw troops.
1975 the southern capital of Saigon fell to the North Vietnamese, Communism. Vietnam regained its power from the Japanese months later in August 1945 (August Revolution, led by leader Ho Chi Minh, a scholar of European Marxist ideas.) Declared Independent Sept 2. 1945. Views on Trade significant reform changes were undergone in the first half of the 1990s:
reshaping the former closed economy into a relatively open, market based economy.
Key Improvement 2005-2007:
tearing down quantitative import restrictions (on all products except sugar and petroleum products)
significant reduction in tariffs
initiatives to expose public sector enterprises to larger markets, relaxed restrictions on foreign direct investment, and lifting restrictions on private-sectors participation in foreign trade and setting up business ventures by private entities (individuals and companies).
(Source: Australian National University , Trade Policy Reforms) Tariff System, Quotas, Embargoes International Connections Location - Southeast Asia. East coast of the Indochinese Penninsula.
Eastern Vietnam has a long coastline on the Gulf of Tonkin and the South China Sea.
Vietnam two largest rivers:
Mekong in the South, and the Red in the North.
Lies within the tropics, but the north experiences some variations in temperature.
April-November average temp is 30 degrees Celsius.
During the winter months the average temp drops to 20 degrees Celcius, and reaches as low as 5 degrees Celsius.
The south averages 30 degrees Celius year round.
The south recieves about 80 inches of rain a year. The north gets about 60 inches a year. Language - Vietnamese (officially)
English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian
Population - 91,519,289 (July, 2012)
Major Cities - Ho Chi Minh City 5.976 million; HANOI (capital) 2.668 million; Haiphong 1.941 million; Da Nang 807,000 (2009) Vietnam is now at peace and maintains diplomatic and economic relations with more than 160 nations and territories, including all the world powers.
In 1986, Cold War ends, Vietnam began a series of market and social reforms, working to normalize its relations with the United States
&open the country for tourism, which developed in the 1990s.
In 1990 UN established official diplomatic relations with Viet Nam.
In 1991, the country signed a peace agreement with Cambodia
Shortly thereafter restored diplomatic relations with China
In 1992, Viet Nam established diplomatic relations with South Korea.
In, 1994 and 1995 the United States removed trade embargoes and the United States agreed to exchange low-level diplomats, Full diplomatic relations (Vietnam embassies and appointing ambassadors) have been established.
Currently a member of the Association of Southeast Asian Nations (ASEAN)
The ASEAN Free Trade Area (AFTA)
The Asia-Pacific Economic Community (APEC)
ASEAN – Europe Meeting (ASEM).
In November 2010, Vietnam joined the United States, Peru, Chile, Malaysia, Singapore, Brunei, New Zealand, and Australia to participate as a full member in the Trans-Pacific Economic Partnership (TPP) negotiations to conclude a high-standard, 21st century Asia-Pacific free trade agreement.
In 2010, Vietnam moved forward on its commitment to WTO obligations by implementing laws and regulations to increase compliance of local industries. Age Structure:
0-14 years: 24.9%15-64 years: 69.6%65 years and over: 5.5%
(2012 est.) Military
Military service age and obligation:
18 years of age for male compulsory military service; service obligation - 2 years
18-45 years of age (male) or 18-40 years of age (female) for Militia Force or Self Defense Forces (2006)
Manpower available for military service:
Males age 16-49: 25,649,738
Females age 16-49: 24,995,692 (2010 est.) People's Armed Forces: People's Army of Vietnam; includes
People's Navy Command(with Naval Infantry, Coast Guard)
Air and Air Defense Force
People's Public Security Forces, Militia Force, Self-Defense Forces (2010) Economic Information Fun Fact: Vietnam’s economic growth over the past decade is only second to China in the world. How?
Thanks to a commitment to economic liberalization and international integration, the home of beef noodle soup (pho), and the t-shirt you are likely wearing is now cementing itself as a viable market economy. While still under government control, Vietnam has taken great strides to attract foreign investment by gaining membership in the World Trade Organization, Trans-Pacific Partnership, Asia-Pacific Economic Cooperation, and Association of South-East Asian Nations. These budding relationships have since lead to an economy focused on exporting consumer goods around the world. As a result aspirations to reach 7-8% annual economic growth by 2020 look promising.
However, despite signing several agreements and policies to encourage foreign investment, many of Vietnam’s most interested peers have found hardship in their pursuit. Due to steep taxes, bouts with inflation, and government regulations, investors have decided to hold their order of soup until Vietnam changes their recipe. Fortunately, the government has begun implementing a “three pillar” economic reform program, proposing the restructure of public investment, state-owned enterprises, and the banking sector, which should allow the developing country to regain former customers, and ensure a brighter future. Tax System Overview
There are five different taxes enforced in Vietnam.
Corporate Tax: Organizations producing and trading goods and services, and earning an income are liable to pay a Corporate Tax. Standard rates are usually 25%, but preferential rates are applicable for qualified enterprises.
- 20% for operations placed in geographical areas of socio-economic difficulty. Duration: 10 years.
10% for operations places in high technology and scientific research infrastructures.
Duration: 15 years.
10% for operations that are beneficial to the education and training, health care, cultural, sporting, or environmental sectors. Duration: Entire project life.
New businesses looking to exploit natural resources however, are subject to a Corporate Tax rate of 32-50%, depending on the project. Import/Export Duties:
Goods imported/exported through Vietnam’s airports, seaports, transnational railways, and international post offices are subjected to duties. There are three types of rates applicable:
Preferential Import Tariff: Applicable to nations in which Vietnam has a strong trade relationship.
Special Preferential Duty: Applicable to nations in which Vietnam has a strong trade relationship, and shares a free trade agreement.
Standard Duty: Applicable to nations in which Vietnam has no prior trade relationship or agreements.
Value Added Tax: Applies to goods and services used for production, trading, and consumption in Vietnam. Both individuals and organizations are subject to the tax, and is calculated by adding the taxable price of an import with a rate of either 0, 5, or 10% depending on the good/service.
Special Sales Tax: Imported goods including cigarettes/cigars, spirits and beers, motor vehicles, low powered air conditioners, playing cards and services such as dance halls, massage parlours, karoake establishments, casinos, golf courses, and lotteries are exclusive to the Special Sales Tax. Rates range from 10-75%, and are coupled with an additional 10% Value Added Tax.
Personal Income Tax: Residential individuals who are receiving an income inside or outside Vietnam, and non-residential individuals receiving an income from within the country are subject to pay Personal Income Tax. As such, taxable income can be derived from business activities, salaries, wages, investment capital, capital and real estate transfers, royalties, commercial concessions, bonuses, and allowances.
Vietnam enforces a progress tax rate that increases based on the income generated. 3. Stock Market
Ho Chi Minh Stock Exchange - VN-INDEX
Founded on July 20th, 2000, the Ho Chi Minh City Trading Center held its first trading session on July 28th of that year. Operations were later moved to the Ho Chi Minh Stock Exchange on May 11th, 2007.
Location: 16 Vo Van Kiet St., District 1, Ho Chi Minh City, Vietnam.
Vietnam’s second stock exchange originally started as the Hanoi Securities Trading Center, and held its first trading session on July 14th, 2005.
Location: No. 02, Phan Chu Trinh Street, Hoan Kiem District, Hanoi, Vietnam. 6. Trade Sectors - Export Strengths / Import Strength
Due to low labour costs, ideal climate conditions, and high potential for growth, Vietnam holds competitive advantages in several fields of production. The following is a brief list of exported goods in which Vietnam is currently attaining success: Oil and gas, plastics, leather and footwear, rubber, and electronic components.
Other significant exports include:
Rice: Vietnam has the distinct title of being the world’s second largest exporter of rice behind Thailand. It is their most important agricultural commodity as it ensures rural employment and household sustenance.
Coffee: Accounting for over 14% of the world’s market share, Vietnam is the second largest exporter of coffee beans behind Brazil.
Processed Foods: Including various canned and dried fruits, Vietnam is also the world’s leading exporter of cashews, with 25% of the market share.
Textiles and Garments: In 2010, export revenue exceeded US$11 billion - an increase of 24% from 2009. It was followed with US$14 billion in 2011, accounting for 16,5% of the country’s total export revenue, and up 38% from the previous year. The future continues to look promising as Vietnam will soon be exporting goods to South Korea, Taiwan, Russia, Singapore, and the Middle East. In the mid 1980s the government implemented free market reforms allowing private ownership industries, such as agriculture. =growth of the economy
The government allows individuals to control foreign investment. Increase in the amount of domestic savings in the country. = growth of the economy.
Since the early 2000s, Vietnam has applied sequenced trade liberalisation, opening some sectors of the economy to international markets while protecting others
Goods and services exports now constitute around 70 per cent of Vietnam's GDP up from a 30 per cent share recorded in the mid 1990s Recommendation & Conclusion Should a Canadian Business invest in Vietnam? Yes. solid economic growth,
a competitive workforce
a gradually more open and transparent market
abundant natural resources
good geographic positioning in the region.
its attractive tax incentives, low-cost labour, and long coastline with increasingly modern port infrastructure
Great investment opportunities include information and communication technologies (ICT), mining, tourism, manufacturing, education, and infrastructure 7. Recent Economic Performance
In the past decade, Vietnam has seen a shift from a labour intensive, agriculture based economy to one of industry and technological advancement that has resulted in substantial economic growth during that time. Today however, Vietnam is faced with several issues that call into question its ability to continue its rapid incline on the world stage. These include:
- Lack of transparency and monetary discipline by the State Bank of Vietnam.
- Investment in education will be necessary in order to continue achieving economic growth.
- Pressure from WTO affiliates to reduce regulations on foreign investments.
Additionally, if the government can rebuild its infrastructure to better implement macroeconomic policies, provide incentives for domestic entrepreneurship, and further support competitive markets, the future is promising. #8. Inflation & Unemployment Rate
Inflation rate: 18.7% (2011 est.)
Unemployment rate: 3.6% (2011 est.)
9. Workforce Composition
Consists of 48.23 million (2011 est.)
Services: 29.6% (2011)
Vietnam wields a young and willing labour force that have contributed greatly to the country’s recent success. To ensure economic growth in a shifting economy however, there is a need for better education for university graduates. This will not only prove beneficial for domestic productivity, but will also add further appeal to investors looking for highly skilled, low-cost labour. 10. Trade Barriers
- Tariffs on paper, meat, steel, and fertilizer.
- Regulations and licensing processes which slow down the movement of imports.
- Reoccurring inflation issues have stalled Vietnam’s trade opportunities. Bibliography World Factbook - Vietnam." CIA World Factbook. N.p.. Web. 17 Jan 2013. <https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html>.
"LITERACY RATE; ADULT TOTAL (% OF PEOPLE AGES 15 AND ABOVE) IN VIETNAM ." Trading Economics . N.p.. Web. 17 Jan 2013. <http://www.tradingeconomics.com/vietnam/literacy-rate-adult-total-percent-of-people-ages-15-and-above-wb-data.html>.
"HSBC: Vietnamese currency more stable in 2012 ."ANiPHU Real Estate & Investment . N.p.. Web. 17 Jan 2013. <http://anphucorp.com.vn/en/news.php?id=40&cid=8>.
"VND - Vietnamese Dong ." XE.com. N.p.. Web. 17 Jan 2013. <http://www.xe.com/currency/vnd-vietnamese-dong>.
"Trade Barriers in Vietnam." Globaltrade.net. N.p., 14 Mar 2011. Web. 17 Jan 2013. <http://www.globaltrade.net/f/business/text/Vietnam/Trade-Policy-Trade-Barriers-in-Vietnam.html>.
"Various Entries." Vietnam Trade Promotion Agency. N.p.. Web. 17 Jan 2013. <http://www.vietrade.gov.vn/en/index.php?option=com_content&view=frontpage&Itemid=1>.
Breu, Marco, Richard Dobbs, Jaama Remes, David Skilling, and Jinwook Kim. "Sustaining Vietnam's growth: The productivity challenge ."McKinsey Global Institute . McKinsey & Company, Feb 2012. Web. 17 Jan 2013. <http://www.mckinsey.com/insights/mgi/research/asia/sustaining_growth_in_vietnam>.
Chan, Sarah. "Vietnam’s economic development: Policies, challenges and prospects for the future ."vox. N.p., 24 Oct 2012. Web. 17 Jan 2013. <http://www.voxeu.org/article/macroeconomic-stability-vietnam>.
"Vietnam's 2013 economy in the eyes of foreign entrepreneurs ." News VietNamNet. N.p., 28 Dec 2012. Web. 17 Jan 2013. <http://english.vietnamnet.vn/fms/special-reports/56754/vietnam-s-2013-economy-in-the-eyes-of-foreign-entrepreneurs.html>.
"Ho Chi Minh Stock Exchange - Establishment & Development." Ho Chi Minh Stock Exchange. N.p.. Web. 17 Jan 2013. <http://www.hsx.vn/hsx_en/Modules/Gioithieu/Lichsu.asp&xgt;>.
"Doing Business - Taxation." IPC Danang - Danang Investment Promotion Center. N.p.. Web. 17 Jan 2013. <http://www.ipc.danang.gov.vn/modules/news/default.aspx?CateId=News_Doing_Bussiness&NewsId=121>.
"Hanoi Stock Exchange / Index / Profiles." Hanoi Stock Exchange. N.p.. Web. 17 Jan 2013. <http://www.hnx.vn/en/web/guest/index/hnx-inde&xgt;>. Trading Advantages Customs and Rites
- Funeral Rituals•
- Eating Manners
- Rites of Welcoming to Home
- Greeting People: handshake
- Names, family names and secret names
- Wedding Rituals etc.
- No beckoning with upturned fingers
- No touching one's head or shoulder
- No complimenting a baby when he/she's born
- Senior or the host pays when going to restaurants #1. How Laws Are Made In Vietnam, laws are made and passed by the National Assembly. As Vietnam follows the civil law system, she also has a written legal constitution based on specific codes and principles as guidelines in making legal decisions. #2. How Laws Are Enforced The Supreme People’s Court of Vietnam is the highest court and the Court of Appeal in Vietnam. It deals with the enforcement of the laws with the assistance of the Vietnam People’s Armed Forces. The court system is harsh and can be arbitrary, with death penalty as the highest punishment. Life as a prison, for reformation or not, is also difficult with strict work details and infrequently-allowed visitors. #3. Laws On Investment •Investors must abide by and investments must be permitted by the laws of the state.
•Equal treatments are to be given to all investors
•The ownerships of assets, capital and revenue are protected by the State
•The State will implement international treaties concerning investment
•The State shall have a policy of incentives to encourage investment.
# 4. Legal System Exports are highly promoted in Vietnam. Therefore, taxes are only levied on certain commodities, mainly natural resources such as minerals and forest products. Export taxes range from 0 to 45%.
In many cases, export items can be tax-exempted. There are also a list of many products and services banned from trading such as guns, narcotics or prostitution businesses.
Even though the National Assembly controls the power of making laws, the Communist Party of Vietnam still has a great influence over the executive and exercises control. Therefore, there is a great deal of corruption within the constitutional framework. #5. Human Rights Human rights nowadays are one of the heated issues in Vietnam. The Vietnamese government systematically suppresses freedom of expression, association, and peaceful assembly. As in many other communist countries, human rights are greatly reduced. No independent or privately-owned domestic media is allowed to operate. Police have been linked with brutality, torture and fatal beatings of prisoners. # Law Enforcement One of the current news that attracts international attention was the arrest of many prominent bloggers that have spoken against the Communist regime. Tragedy happens when a mother of one blogger fatally set herself on fire to protest the 10-year imprisonment charge of her daughter. US President Barrack Obama has spoken several times about this issue in Vietnam in many of his speeches about human rights. #7. Child Labor Even though the law prohibits the employment of children under the age of 15, the system has too many loopholes to provide protection for the children. The laws are not aggressive enough, which allows abusive child labor to happen without any punishment.
If you walk the streets of big cities in Vietnam, you can see kids aged 5-10 selling lottery tickets. Child labor can also be found in gold mines, timer operations, shoe shiners…
#8. Role and Rights of Women Vietnamese women play a significant role in the war, defending their own countries either patrol guards, intelligence agents or military recruiters.
Nowadays, women still are an important labour force of the economy and leaders of the country. Nevertheless, women are also victims of human traffickers. The majority of women is still lowly educated, leading to many become targets of kidnapping, bride-buying trade or prostitution in Vietnam and many foreign countries.
The laws of Vietnam strictly and aggressively prohibit the selling and human trafficking of women.
- Vietnam is a country surrounded by the ocean, located in an ideal location for trading: in the South East Asia. That's why when it comes to shipping big amount of goods and far distances, Vietnam has an advantage.
- Being an agricultural country with millions hectare of rubber forests, endless fields of coffee nuts and paddle fields, Vietnam has a list of standout companies exporting such products.
- Vietnam currently trades worldwide, especially Asian countries (for proximity) and owns a number of factories distributing and manufacturing North America's clothing brands (some shirts or pants you wear might say Made in Vietnam).
- The currency of Vietnam is VND, which is really inferior. Approximately, 22,000VND is equal to 1USD or 1CAD. This really puts Vietnam into a big advantage for export)
- Although Vietnam has a lot of resources, the lack of new technique is a real problem of Vietnam. Because Vietnam is still a developing country and has only been relieved from wars for 37 years, it hasn't caught up with the world yet. Vietnam needs to give the raw products to other countries so the product is processed.
- The interior currency puts Vietnam into a big disadvantage for imports while Vietnam is in need of a lot of techniques and goods from other countries.)