VBF - PowerPoint PPT Presentation

Loading...

PPT – VBF PowerPoint presentation | free to download - id: 6a1404-NDMyY



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

VBF

Description:

VBF Vietnam Business Forum Sin Foong Wong IFC Country Manager June 2007 Agenda Overview of VBF Mandate Structure and operation Participants Key policy areas/themes ... – PowerPoint PPT presentation

Number of Views:3
Avg rating:3.0/5.0
Slides: 17
Provided by: THansJ
Category:
Tags: vbf | asean | structure

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: VBF


1
VBF
  • Vietnam
  • Business
  • Forum
  • Sin Foong Wong
  • IFC Country Manager
  • June 2007

2
Agenda
  • Overview of VBF
  • Mandate
  • Structure and operation
  • Participants
  • Key policy areas/themes
  • VBF May 30, 2007- Issues and Resolutions
  • Going forward

3
Overview of VBF
  • Background established in 1997 as a result of
    the Vietnam Consultative Group (CG) Meeting in
    Tokyo
  • Objectives
  • To improve the investment and business
    environment in Vietnam
  • To strengthen the role and voice of the private
    sector in Vietnam
  • Method to promote ongoing, structured policy
    dialogue between the business community and the
    Government

4
VBF structure
Vietnam Business Forum (VBF)
World Bank (WB)
(Deputy) Prime Minister
Consultative Group (CG)
International Finance Corporation (IFC)
Ministry of Planning Investment (MPI)
Inter-Ministerial Team (IMT)
VBF Secretariat
MD Working Group
Banking Working Group
State Bank of Vietnam (SBV)
Business Associations
Capital Markets Working Group
Ministry of Finance (MOF) SSC
MOT/MOPT/ MOI
Infrastructure Working Group
Note Working relationship
Establishing Supporting
Vietnam National Administration of Tourism (VNAT)
Tourism Working Group
5
Main business groups participating in the VBF
  • Business Groups actively participating in the VBF
    activities
  • DOMESTIC
  • Can Tho Business Association (CBA)
  • Association of Garment, Textile, Embroidery, and
    Knitting (AGTEK)
  • Hanoi Young Business Association (HBA)
  • HCMC Association for Young Entrepreneurs (YBA)
  • Hanoi Union of Association of Industry and
    Commerce (HUAIC)
  • Vietnam Association of Financiers (VAFI)
  • Vietnam Chamber of Commerce and Industry (VCCI)
  • HCMC Computer Association (HCA)
  • HCMC Food and Foodstuff Processing Association
  • FOREIGN
  • Eurocham
  • Auscham
  • Amcham
  • Singapore Business Group (SBG)
  • Canadian Chamber of Commerce (CanCham)
  • Korean Chamber of Commerce and Industry (KORCHAM)
  • Hongkong Business Association (HKBAV)

6
Key areas/themes
  • Improve banking system and develop sustainable
    capital markets
  • Streamline legislative regime in infrastructure
    development
  • Enhance capabilities and private participation in
    3 prioritized sectors port, power and telecoms
  • Enhance skill labor quality and supply along with
    labor relations
  • Reduce obstacles associated with labour
    requirements and licensing
  • Improve tax regime
  • Streamline registration/licensing/procedures
  • Unify investment
  • incentives and protections
  • More equitable access to land
  • and land use rights
  • Broad collaboration in a range of initiatives
    toward sustainable tourism development

7
Main recent results
  • Unified legal framework for domestic and foreign
    investment and business.
  • Newly-established legal framework for BOT
    projects (BOT Decree issued in May 2007).
  • Clearer and more transparent land clearance and
    compensation procedures (Decree 84 issued in May
    2007).
  • Detailed guidelines for implementing Decree 22
    providing more opened environment for foreign
    banks.
  • Close collaboration of the Vietnam National
    Administration of Tourism and the private sector
    in tourism development strategy and tourism
    marketing and promotion initiatives.
  • Improved port handling capabilities to catch up
    with cargo and economic growth demands.

8
VBF May 30 Businesss Perception on Business
Environment
  • WTO accession gt Business legislation being
    harmonized with international practices
  • More level playing field for all enterprises
    regardless of ownership
  • How Vietnam should respond to and capitalise on
    its recent acession to the WTO?
  • Implementing the WTO commitments in a timely
    manner
  • Closer co-ordination between the government and
    business associations to adapt to the new rules
    and tap into the WTO benefits
  • Diseminating comprehensive information on WTO to
    frontline goverment officials to ensure proper
    and uniform implementation
  • Encouraging private sector participation in
    educaton and training to adress the shortage of
    human resources

9
VBF May 30 Issues resolutions Banking and
Capital Market
  • ISSUES
  • Upgrading Vietnamese banking regulations in line
    with WTO and international practices.
  • Recognition and application of international
    laws to Vietnamese court system in addressing
    cross-border banking transactions.
  • Further liberalization of forex transactions.
  • Strengthening inter-ministerial co-ordination to
    ensure capital market development and
    macroeconomic stability.
  • Clarifying regulation on subscription rights
    Role of securities companies in underwriting
    and possibilities for private companies to issue
    corporate bonds.
  • RESOLUTIONS
  • Greater liberalization along with market
    developments to be granted. Detailed guidelines
    for implementation of Decree 160 on forex
    transactions to be consulted and issued in Summer
    07.
  • Need of strong co-ordination between state
    agencies in development and supervision of
    capital markets was noted. Establishment of a
    supervisory body comprised of the SBV and the
    MOF, including the SSC is under consideration.
  • Regulations on bond issuance for private
    companies are available (Decree 52) Credit
    rating agencies, a separate market for issuing
    bond and an electronic portal for bond trading
    connecting to the ASEAN bond market are under
    establishment process.

10
VBF May 30 Issues resolutions Implementation
of Vietnams WTO commitments
  • ISSUES
  • Measures to offset subsidy removal in export
    manufacturing.
  • Use of WTO commitments as the floor, or minimum
    standard.
  • Detailed guidelines to implement the WTO
    commitments.
  • Clarification on the licensing for foreign trade
    branches, criteria distinguishing between foreign
    and local companies.
  • Impediment to import, export and distribution
    Economic Need Test for foreign invested
    retailers, cumbersome re-registration
    requirements for representative offices.
  • RESOLUTIONS
  • Measures to offset subsidy removal are under
    consideration.
  • Vietnams rules will prevail if they are more
    favorable than WTO commitments.
  • Circular to guide Decree 23 on FDI Enterprises
    trading and the Decree to guide the
    implementation of certain WTO commitments to be
    finalized and issued soon.
  • Existing enterprises only need to revise
    import/export rights if needed and re-register
    them with the MPI.
  • Commercial presence in branch form in certain
    areas e.g. distribution services, advertising,
    and logistics is no longer allowed.

11
VBF May 30 Issues resolutions Implementation
of Investment and Enterprise Laws
  • ISSUES
  • Uniform guidelines from the central government to
    provinces to ensure the consistent application
    of the laws nationwide.
  • Further guidance or clarification to facilitate
    the implementation of the laws
  • Conditions applicable to projects in conditional
    business sectors.
  • Sales of shares in local companies to foreign
    investors.
  • Conversion of BCC into JVs or Joint stock
    companies.
  • Procedures for transferring shares or
    transferring a project.
  • Practicing certificate, company name, criteria
    for director, language used in official documents
    etc.
  • RESOLUTIONS
  • Difficulties of businesses in implementation of
    the two laws were acknowledged.
  • A new Decree addressing the mentioned problems is
    under consultation and to be issued soon.
  • BCC conversion is not covered by the new Decree
    as related provisions in the EL and IL suffice
  • Specific conditions for certain areas of
    investment to be subject to specific laws and
    regulations governing those areas.

12
VBF May 30 Issues resolutions Others
  • ISSUES
  • Port
  • Lack of sea port capacity to cope with
    increasing demand in the next few years post WTO
    entry.
  • Inadequate development of in-land infrastructure
    channel systems.
  • Delay of the ODA-funded terminal project at Cai
    Mep.
  • 2. Tourism
  • Inadequate transportation and accommodation
    facilities to meet increasing demand and quality
    standard.
  • Delays in planning and project approvals.
  • Bad practices, including broken contracts.
  • RESOLUTIONS
  • Port
  • A number of licenses be granted to port
    developers recently.
  • Handling capacity in several ports have been
    improved.
  • Port Master Plan is under review to reflect
    market changes and be submitted for approval in
    July.
  • An inter-ministerial team supervisory body to be
    set up to identify shortfall and solutions for
    port planning.
  • 2. Tourism
  • Good co-operation between VNAT and TWG to be
    continually fostered.
  • Implementation of Tourism Master Plan to be
    discussed with TWG once the plan is approved.

13
VBF May 30 Issues resolutions Others
  • RESOLUTIONS
  • 3. Mining
  • Decision 67 is to encourage the development of
    domestic processing capabilities.
  • Continued dialogue with the Government in mining
    issues to be held.
  • ISSUES
  • 3. Mining
  • Reconsideration of Decision 67 on export tariff
    of minerals
  • More encouragement of FDI in the mining sector

14
Going forward
  • Include fully domestic and regional investors
  • Improve position paper quality
  • Diversify forms of co-operation with the
    government, not just closed door meetings (e.g.
    workshops, surveys, research, publication)
  • Form Education Training working group
  • Strengthen communication activities by finalizing
    the construction of new VBF Website
  • Coordinate closely with donor programs and CG
    agenda to implement necessary reforms

15
Contact
VIETNAM BUSINESS FORUM SECRETARIAT C/o IFC 63 Ly
Thai To Hanoi Tel 84 4 9342282 Fax 84 4
9342289 E-mail vbf_at_ifc.org Contact person Pham
Lien Anh, VBF Secretariat www.vbf.org.vn
16
  • Thank you for your attention
About PowerShow.com