Viet Nam - A Guide for Business and Investment - asean-korea centre

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PART I. VIET NAM: COUNTRY AND PEOPLEThe President of Viet NamThe President, as the Head of State, is elected by theNational Assembly from its members to representViet Nam in domestic and foreign affairs for a fiveyeartenure. The President has the right to proclaimLaws and Ordinances passed by the National Assemblyand the Standing Committee. The President is thecommander-in-chief of the armed forces and Chairmanof the Council of Defence and Security. In foreignaffairs, the President has the authority to appoint ambassadorsand to sign international agreements andtreaties.The President appoints and dismisses the Prime Ministerand the members of the Government on thebasis of resolutions of the National Assembly or itsStanding Committee. Furthermore, the President hasthe right to nominate key officials such as the ChiefJustice of the Supreme Court and the Chief Procuratorof the Supreme Procuracy, subject to the NationalAssembly’s approval.The 9 th session of the eleventh National AssemblyThe GovernmentThe Government is the highest executive organ ofthe State. The Prime Minister is the leader of theGovernment. The Prime Minister is responsible forthe day-to-day operations of the Government. TheVietnamese Government currently has 20 ministriesand 6 ministerial-level bodies.The People’s Councils and People’sCommitteesViet Nam has 59 provinces and 5 cities directly undercentral authority (including Hanoi, Ho Chi MinhCity, Haiphong, Da Nang, and Can Tho). Provincesare subdivided into districts, provincial cities andmunicipalities. Districts are further divided into communesand townships. Cities directly under the centralauthorities are made up of districts. Urban districtsare divided into precincts, and rural districtsare made up of communes.10 Viet Nam - A Guide for Business and Investment
People’s Councils of various administrative levels areelected by the population of the locality. People’sCouncils are responsible for the supervision of theimplementation of the laws, policies and tasks at thelocal level, and for taking decisions on local socioeconomicdevelopment programs and budgets.People’s Committees of various levels are the executivearm of the People’s Councils. They are also localadministrative authorities, and report to the People’sCouncils of the same level. Chairmen, vice chairmenand members of the People’s Committees are electedby People’s Councils.The People’s Courts and People’sProsecutorsThe Constitution establishes a three-level judicialsystem comprising District Courts, Provincial Courtsand the Supreme People’s Court. In addition, thereis a system of people’s organs of control acting as aprocuracy or public prosecutor to oversee the observanceof laws by judicial bodies and to exercisethe power of public prosecution.Prime Minister Nguyen Tan Dung meets ADB’s President5. International relationsAt present, Viet Nam has established diplomatic relations with 168 countries, and it has economic and tradingrelations with about 165 countries. Viet Nam joined the United Nations in 1977.Viet Nam became an official member of the Association of South East Asian Nations (ASEAN) in 1995, and hasconcluded a cooperation agreement with the European Community. Relationships with multi-national financialinstitutions such as the World Bank (WB), the International Monetary Fund (IMF) and the Asian DevelopmentBank (ADB) are being strengthened. Viet Nam has been participating in the ASEAN Free Trade Area (“AFTA”)since 1996 and became a member of the Asia Pacific Economic Cooperation Forum (APEC) in 1998. Viet Nambecame an official member of the World Trade Organisation (WTO) on 7 November 2006.Viet Nam signed the bilateral trade agreement (BTA) with the United States in 2000. Besides aspects of internationaltrade, the BTA covers a variety of other areas, including intellectual property rights, trade in services,development of investment relations, business facilitation and the obligation to ensure transparency of lawsand regulations. The BTA essentially constitutes a commitment by both countries to open their markets toeach other.Prime Minister Nguyen Tan Dung meets Representativeof the World BankPART I. VIET NAM: COUNTRY AND PEOPLEViet Nam - A Guide for Business and Investment 11
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Labour11 Labour Code dated 23/6/199
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Real Estate Business34Law No. 63/20
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APPENDIX IIIV. Construction and dev
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APPENDIX IIIstruction of private an
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14 Yen Bai Luc Yen, Mu Cang Chai an
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52 Bac Lieu All districts Bac Lieu
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APPENDIX VIUseful contacts and addr
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APPENDIX VIHoa Binh DPINo. 3 Tran H
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Dak Lak DPINo. 17 Le Duan str, Buon
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Bac Giang IZs MBNo 48 Ngo Gia Tu st
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Vietnam - Singapore IZs MBNo. 8 Huy
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Germany, 29 Tran Phu St., HanoiTel:
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KPMG in VietnamHanoiHo Chi Minh Cit
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