Manfred Otto, senior associate at Duane Morris Vietnam LLC Vietnam’s star is continuing to shine brightly into 2019. With a GDP steadily growing at roughly 7 per cent year-on-year, and with wind in its sails from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), besides strong fundamentals, foreign investment is on an uptrend. While challenges remain, there is a window of opportunity for the country to bolster its position as an attractive investment destination. Vietnam has tremendously improved the conditions for international investors over the past decade, not only for foreign direct investment (FDI) in businesses, but also for indirect investment in the stock market. The top improvements made to growing FDI in recent years include reduced foreign ownership limits (FOLs), an improved business environment, and membership to major international trade agreements. Since joining the World Trade Organization (WTO) in 2007, the country has lifted … [Read more...] about Streamlining conditions for foreign investment
Curbing corruption in public procurement
Malaysia unveils five-year plan to fight corruption
Malaysian Prime Minister Mahathir Mahamad (Source: The Straits Times) Kuala Lumpur (VNA) – Malaysia on January 29 announced a five-year plan to intensify control over corruption in Government agencies after a multi-billion-USD graft scandal brought down the previous administration. The plan, launched by Prime Minister Mahathir Mahamad, will include changes to the appointment process for key posts, require lawmakers and ministers to publicly declare their assets, and introduce new laws to regulate political funding and lobbying. Mahathir said Malaysia needs all kinds of strategies, laws and restrictions to curb corruption. This plan is a strong statement from the current government that it will track down and prosecute past offenders, while current and future offenders will be facing harsher action, he stated in a speech to launch the new approach to graft combat. The plan's measures will target the government's procurement process, law enforcement, judiciary, politics and … [Read more...] about Malaysia unveils five-year plan to fight corruption
Reform doesn’t mean distorting policies: Deputy PM
Viet Nam News HÀ NỘI — The financial sector needs to work on a solution to reduce tax rates but still increase the total tax collection. That’s the message from Deputy Minister Vương Đình Huệ who was speaking at a conference in Hà Nội yesterday. The conference was held to review the performance of the financial sector in the first six months of this year and set out tasks for the second half. “Tax reform doesn’t mean distorting tax policies,” Huệ said, adding that the Ministry of Finance (MoF) should carefully review the effects of tax reform procedure. The amendments and supplements to tax laws, including real estate laws, should be studied in line with the real situation of Việt Nam, Huệ added. The Deputy PM also praised the MoF’s decision to not raise the value added tax, adding the decision was considered responsible and having a positive impact on the market. Deputy PM … [Read more...] about Reform doesn’t mean distorting policies: Deputy PM