Last updated: 18 May 2012
Market profile
Insights and opportunities
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Doing Business
On 1 January 2010 the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) came into force; Australia’s most ambitious trade deal to date. Australian business is urged to take a close look at the opportunities created by the agreement, as it will deliver real commercial benefit for Australian exporters and investors doing business in Vietnam.
More information on doing business in Vietnam
Country Profile
Content supplied by Department of Foreign Affairs and Trade
- ECONOMIC CLIMATE
Vietnam has been in transition from a centrally-planned to a 'socialist oriented market economy' since the introduction of the doi moi reforms in 1986.
» read more at DFAT
- TRADE RELATIONS
While the global economic slowdown presented challenges, the long term outlook for Australia-Vietnam trade and business relationships remains positive.
» read more at DFAT
- FREE TRADE AGREEMENTS
The Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is Australia’s most ambitious trade deal to date.
» read more at DFAT
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.
APEC Business Travel Card Scheme
Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.