Will the US-China trade dispute, if it happens, bring the opportunities to Vietnam to penetrate the US market, or become a threat to Vietnam’s economic development? The US Department of Commerce has declared the new high tax rates on the solar cell imports from China. The decision, in the eyes of observers, would ignite a trade dispute between the two powers. The conflicts which cannot be reconciled On May 18, 2012, the US Department of Commerce announced the decision to impose the tax rates of 31-250 percent on the solar cells imported from China. Prior to that, on March 20, 2012, the US imposed the tax rates of 2.9-4.9 percent on solar cells and accessories from China. The new tax rates would have direct big impacts on a series of Chinese manufacturers. 61 Chinese companies would bear the tax rate of 31 percent, others 250 percent. China has voiced its protest against the US’ decision, describing this as a form of “trade protection.” The tension … [Read more...] about The US-China trade dispute and the opportunities and challenges for Vietnam
Vietnam Promotion Roadshow in the United States (VPR USA-2017) aims to practically materialise outcomes of the US visit by Prime Minister Nguyen Xuan Phuc last May (Source: VNA) Washington (VNA) – Vietnamese localities attach importance to economic and trade ties with the US, considering cooperation an important resource for industrialisation and modernisation, said a Hanoi official. Nguyen Duc Chung, Chairman of the Hanoi People’s Committee, made the statement during working sessions with the US Departments of State and Commerce in Washington on July 10. Chung is leading a delegation of the Vietnam Young Businesspeople Association, authorities and over 50 businesses from six Vietnamese localities of Hanoi, the northern province of Thai Nguyen, the central province of Quang Tri and the southern provinces of Ba Ria-Vung Tau, Dong Nai and Long An, to a programme … [Read more...] about Vietnamese localities seek stronger ties with the US
ASEAN sprint queen Le Tu Chinh will begin a long training residence at the IMG Academy in Florida this December. Le Tu Chinh (second left) and expert Loren Seagrave of the IMG Academy (third left) at the meeting in HCM City yesterday. — Photo thanhnien.vn Deputy chairman and general secretary of HCM City Athletics Federation Nguyễn Trung Hinh announced the news at a meeting in HCM City yesterday. At the Southeast Asian Games in Malaysia in August, Chinh won the 100m and 200m. The unstoppable 20-year-old then teamed up with Nguyễn Thị Mộng Tuyền, Trần Thị Yến Hoa and Đỗ Thị Quyên to win the 4x100m in a time of 43.88, a Games record. During her training in the US, Chinh will compete in many tournaments to hone her skills and gain experience. Expert Loren Seagrave will oversee Chinh’s training. Seagrave coached Donovan Bailey of Canada to take gold and break the world record in the men’s 100m … [Read more...] about Sprint phenom Chinh to train in the US
VietNamNet Bridge - In a TPP without the US, powerful member countries will benefit most, according to economist Nguyen Tri Hieu. The other 11 member countries of TPP have decided to move ahead without the US, which once took the leading role in the deal. Vietnam will be able to benefit from TPP, not only in trade. The Vietnamese economy will have to change to conform to TPP’s regulations once the deal is made. However, the negative side of TPP-11, or the TPP without the US, is the modest share of TPP in global trade. A TPP with the US accounted for 40 percent of global trade, of which the US alone accounts for 20 percent. Without the US, the figure would be 20 percent.The TPP is only one among many multi-lateral cooperative frameworks that Vietnam joins as part of its international process. “However, 20 percent is still a considerable market share though it is smaller than initially planned,” Hieu said. The expert went on to say that Vietnam would lose many … [Read more...] about What benefits will Vietnam get from TPP without the US?
VietNamNet Bridge - Many Vietnamese have bought properties in the US, but this has not generated cash flow from Vietnam to the US, according to the State Bank of Vietnam (SBV). SBV is drafting a report for the government about the source of money Vietnamese use to buy properties in the US. NAR has already released a report showing that in the time between April 2016 and March 2017, foreigners spent $153 billion to buy 284,455 properties in the US. The amount of money Vietnamese spent to buy houses in the US accounted for 2 percent, or $3.06 billion. Vietnam is listed among 10 countries with the highest number of citizens buying houses in the US. According to SBV, under the Vietnam’s Forex Ordinance and Decree No 70/2014, the purposes of one-way remittances abroad by Vietnamese do not include payments for property purchases. However, if individuals remit money for overseas settlement purposes, they may use the money to buy properties to serve the … [Read more...] about How many Vietnamese are buying houses in the US?
VietNamNet would like to introduce an article by Mr. Murray Hiebert, Senior Advisor, Deputy Director of the Southeast Asia Program at the US-based Center for Strategic and International Studies (CSIS) about President Truong Tan Sang's recent visit to the US. Vietnam, US issue Joint Statement President Sang concludes US visit FM highlights outcomes of President Sang's visit to US In the afternoon of July 25, President Truong Tan Sang paid a visit to CSIS and talked with scholars and diplomats there. This is the first time a head of state of Vietnam spoke at CSIS. In his speech itself, the President talked about Vietnam's vision for relations in the Asia Pacific and with the United States. He talked about Vietnam's economic reforms and its hopes for economic development. He raised the issue of the East Sea and noted very bluntly that China does not have a legal basis for its wide-ranging claims to most of the sea. One of the most surprising aspects of his time at CSIS was that … [Read more...] about American scholar highly “scores” President Sang’s visit to the US
On the occasion of the 20th anniversary of normalization of the US – Vietnam ties, VietNamNet talks with former Foreign Deputy Minister Le Cong Phung, who served as Vietnam ambassador to the US in 2007-2011. Vietnam and the United States are preparing the 20th anniversary of normalization of diplomatic relations. How have the relations between the two countries in all fields developed to turn from former enemies into comprehensive partners (2013)? The Vietnam - US relationship is very special, which has changed from hostile relations into the relationships of cooperation and comprehensive partnership. On the occasion of the 20th anniversary of the bilateral relations, the US Ambassadors to Vietnam and the Vietnamese Ambassadors to the US had the opportunity to meet each other early this year. We all agreed that 20 years ago, the two sides had no idea that the relationship would develop to such today’s level. The Vietnamese side also said that the Vietnam - US ties is … [Read more...] about ‘The US wants strategic partnership with Vietnam’
The White House has described China's placement of an oil rig in Vietnam's waters as a provocative act and warned Beijing not to raise tensions in the region. Haiyang Shiyou-981 at 15 degrees 29 minutes 58 seconds north latitude and 111 degrees 12 minutes 06 seconds east longitude, deep inside Vietnam's exclusive economic zone, since May 2, has triggered protests in Vietnam. China has also deployed many ships of various kinds to the area, harassed Vietnamese coast guard and fisheries surveillance ships, and obstructed Vietnamese fishermen when they were working normally in waters of Vietnam's sovereignty. On May 16, White House spokesman Jay Carney had a message for Beijing, "We consider that act provocative and we consider it one that undermines the goal that we share, which is peaceful resolution of these disputes and general stability in the region." The White House condemnation came one day after a top Chinese military official visited the Pentagon and indicated Chinese … [Read more...] about The US warns China not to raise tensions in East Sea
VietNamNet Bridge - Nguyen Phuong Anh has turned down two scholarships for doctoral study and decided to study first for a master’s degree in English literature in the US. Nguyen Phuong Anh In February 2017, when she was in Vietnam on holiday after graduating from Franklin & Marshall College, Anh received the news that two prestigious US schools offered her full doctoral scholarships. The University of California in San Diego, in top 44, and University of Massachusetts in Amherst, in top 74, both granted full scholarships worth $50,000-60,000 a year (more than VND1 billion) to study English literature. The Massachusetts school also offered a special amount of money to fund her studies and teaching. Thousands of people apply for these scholarships, especially from the schools in the top 50. Anh, who is from Hanoi, has also been granted a full master’s scholarship from Georgetown University, a school in the top 20. Besides the scholarship worth $40,000, or more than … [Read more...] about Vietnamese student wins three master’s, doctoral scholarships in the US
The tensions between China and Vietnam, or China and the Philippines, or China and other claimants in the South China Sea are not of our making, said US President Barack Obama on the sidelines of the expanded G7 Summit in Japan. Below is an excerpt from his remarks regarding the US-Vietnam and China relations: "So, just very briefly, on China. Our growing partnership with Vietnam is happening entirely independent from China, and is based on mutual interests to expand trade, to expand cooperation across a whole range of areas, and is 30 years in the making now. So the fact that China would perceive that as some sort of provocation to them I think says more about Chinese attitudes than it says anything about our attitudes. The tensions between China and Vietnam, or China and the Philippines, or China and other claimants in the South China Sea are not of our making. And we would very much like to see a peaceful resolution of those disputes. What’s preventing that from … [Read more...] about Remarks by Obama on the US-Vietnam and China relations