Sorry for Disturbing You Essay

Sorry for Disturbing You is a short narrative written by Richard Knight and its chief subject is repenting some of the picks made in life. Two cats are repenting things in this narrative – an old adult male called Michael and Ian. who is besides the chief character. Michael is an old ill adult male one dark strike harding at Ian’s door inquiring for a phone to name for a cap. Ian doesn’t feel like allowing him in. but he follows his inherent aptitude and eventually lets him in to assist him. Ian following his inherent aptitude turned out to be a good thing. because allowing Michael made Ian alter The narrative is told by a 3rd individual limited storyteller. as it is merely Ian’s thought that appears in the text. So reading this narrative Ian is our eyes and ears. Every description is given to us by his point of position. which means that the feeling of the characters that we get is affected by what Ian’s ideas of these people. The fact that the storyteller is a limited storyteller. besides has the consequence that Ian can merely be described by his ideas and the few duologues that he has. The narrative is told in present tense and its advancement is chronological. The linguistic communication consists of a few comparings as like a newborn kid. The narrative is a short narrative which is besides confirmed when reading it as it has a batch of the fresh genre’s features – there’s merely four of import individuals in the narrative. there’s no long descriptions and flashbacks either. The narrative merely covers a twosome of hours. And as in fairy tales it the short narrative has a frame. The narrative starts with Ian being place and holding his married woman Karen life at her mother’s house and his life is being all messed up. but so Michael comes strike harding on his door and he brings him through a mental journey – Michael teaches him something. And in the terminal Ian is back and all of a sudden he has a brighter hereafter – He is place. goes out and ends up place once more but as a different cat. When Michael comes strike harding on Ian’s door he is intoxicated and ill and needs a phone to name a cap. Ian uncertainties in allowing him in. but does it anyhow. Inside the house Michael starts speaking about him non being allowed to come to his ain daughter’s nuptials and he spends times looking at a exposure of him. his girl and married woman hanging on Ian’s wall. So it seems like he’s is truly losing his girl. Michael is besides a small cryptic. because when person comes strike harding on 1s door to tunnel a phone. they normally don’t have a phone. but Michael has one and insists on naming from it. And when naming the cap company Michael knows the reference as if it was his ain. But the mystifier comes right when Michael tells Ian that he knew the old proprietors of the house and that is why he knows the reference and about the old proprietors he says ; We were friends. Good friends. I liked George really much. So it seems like it is non merely a happenstance that Michael knocked on Ian’s door. He is likely losing his old life. his friends and household and came to Ian’s topographic point to retrieve his life as it was earlier. Michael is a adult male filled with declinations and he keeps apologising and stating I should’ve and I shouldn’t have ; Im sorry. I†¦ and Sorry. Thank you. You are really sort. Ian is the chief character of the narrative. He is the male parent to a small miss called Corrine and he is married to Karen. but they have jobs which need to be sorted out. Ian and his married woman likely have jobs because they don’t communicate like they should make. And he besides has a bad relationship to his girl Corrine. Several times Ian tells his girl to remain in her room. but she doesn’t behave quickly. He’s a bad communicator because even though Corrine is about throughout the whole narrative. they don’t run one individual conversation. And the same goes to his married woman – when he sees her in the terminal of the narrative he merely sends her a nod. even though he clearly has missed her ; Ian idea of Karen at her mum’s. and wished she were here now. And he doesn’t know what to talk with Michael about either ; Ten proceedingss. Ian idea. What the snake pit am I supposed to speak about for 10 proceedingss? Michael can be symbolized as being a image of Ian’s hereafter. because they both have a household and a member of it that they do non talk to and lose. But Michael’s state of affairs is worse – he has become an alcoholic. Ian can still salvage his relationship to his married woman and Michael has been an eye-opener to Ian. because when Ian comes place after driving Michael to the infirmary. he’s a different adult male and wants to screen things out. He comes place and he makes two cups of tea and warms a glass of milk. The two cups of tea likely is for him and Karen and is hence stand foring him and Karen. And the milk is stand foring his girl. †¦ made two cups of tea and a glass of warm milk. and took the first careful stairss up the stepss. Transporting the drinks upstairs he’s being careful. as if he was afraid to drop the drinks – to lose his married woman and girl. And him taking the first steps up the stepss can be symbolized as being the first stairss into his new life. Ian knows now how much his household truly means to him and run intoing Michael made him alter. because he doesn’t want to stop up lonely and being kept out from his ain daughter’s nuptials. Throughout the narrative Ian became a different individual – Michael saved Ian’s hereafter. so he was decidedly non upseting. as he said in the beginning when Ian foremost opened the door ; Sorry for upseting you.

Operations Management in Tesco Essay

In order to define why Operations Management is needed in an organisation knowledge of operations management is required. Operations management is an area of management concerned with overseeing, designing, and redesigning business operations in the production of goods and/or services. It includes the responsibility of ensuring that business operations are efficient by using as few resources as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs in the forms of materials, labour, and energy into outputs in the form of goods and/or services. Operations management is about how organizations produce goods and services. Everything you wear, eat, sit on, use, read or knock about on the sports? eld comes to you courtesy of the operations managers who organized its production’ (Slack, N. , et al. , 2010) We have chosen Tesco PLC as it is not only one of the largest food retailers in the world it is also successful in selling its many other products including insurance and financial services. Tesco sets its performance objectives with the following categories of people in mind; the first are the customers because these are the main people that bring in revenue to the organisation. Then there are the suppliers; the operations section depends on these people to perform adequately. (Tesco, 2007) There are also the employees; these are the people who carry out the operations and working conditions in the operations section must put this category in mind. The community is also affected by operation processes especially if the goods disseminated by the process affect the environment. Lastly, there are the shareholders who expect that the operations section is effective stock that they can be able to earn a higher return on their investments. All of the above groups have been included in the performance objectives of Tesco to a large extent. Some of these performance objectives include; (Slack, N. , et al. , 2007) Speed; Tesco recognises speed as one of the major performance objectives in operation. Speed in this case is the time spent between a request for a specific item by a customer and delivery time. The Company values this because customers can get what they require when they need it. This constitutes a respectable record and makes them come back for more business. It has been incorporated in its day to day services by andling customers in a fast manner when they are purchasing items at the store, store attendants are taught to be prompt. Secondly, when they are purchasing a product or service over the phone, customer assistants are to deliver First Call Resolution. Thirdly, when customers are online they are saving valuable time that may be wasted in queues to make payments or when trying to move from one aisle of the store to the next to find a particular item, they can simply do this by selecting the items they require from Tesco’s official Website. Tesco, 2007) Quality; in production this performance objective takes precedence over all other objectives. The product offered by any given company must meet international or local standards in order for it to be a quality good. This is important to a company for two main reasons. The first being if a product or service falls within the customer’s expectation, then they will be satisfied and will be willing to come back for the same. The company will therefore make more profits or generate more revenue. The second reason why quality is such an important performance objective is that it helps the company to achieve effectiveness through reduction of costs, increasing dependability and speed. This will occur if the goods are of good quality. The organisation will then be able to spend time on other aspects of production rather than correcting mistakes. (Slack, N. , et al. , 2007) Tesco ensure that all goods especially foodstuffs are in top notch conditions to ensure that they incorporate this performance objective. This is normally done by effective selection of suppliers for the company. Weiss & Mark, 1989) Besides this, Tesco ensures that goods do not sit too long on shelves or in the warehouse. To prevent the sale of substandard goods expiry dates are regularly checked and to ascertain the quality of the products Tesco performs audits on its suppliers to check; the capability of the factory: that hygienic conditions are incorporated in food preparation; the quality management systems of the supplier and the supply chain management. If these aspects are fulfilled then Tesco will conduct business with them and display their items in their stores. This means that only the best quality goods are chosen in this case. (Tesco, 2007) Cost; this is a performance objective that is largely dependent on the other performance objectives. If an operation is dependable, fast, flexible and full of quality then fewer resources will be spent trying to rectify mistakes. This will directly affect the finances needed and overall cost in the process. It can then be said that cost falls under the four other types of performance objective and it is best not to consider it in isolation. (Slack, N. , et al. 2007) By ensuring that all other performance objectives are met Tesco ensures that this performance objective is incorporated and therefore Tesco improves efficiency in all processes. Flexibility; this is essential in ensuring that operation processes are effective. With flexibility a company can adjust to changes in external factors that may require different aspects of the product. In relation to this, flexibility may come in a variety of forms. It may involve a change in the amount of products the company dispenses, this will normally occur after an external reason has prompted a reduction or increase in the amount of product. Flexibility also applies to the way products or services are delivered. This may be in various forms such as changes in delivery or payment systems used which are influenced by advances in technology and/or competitors. Lastly, flexibility may also mean a change in the types of products or services offered in relation to changing customer preferences. This performance objective is also essential in determining how some other internal factors flow. With a flexible operation system, responses within the organisation will be fast and the overall process will be more efficient. Enhanced flexibility will enhance dependability within an organisation because the speed will have been improved. Lastly, flexibility also affects the amount of revenue generated within the company as the way time is spent within the organisation is affected. (Slack, N. , et al, 2007) Tesco incorporates flexibility by continuously introducing new products in order to meet with changing customer preferences. An example would be the introduction of Tesco’s own product brand name. These products include nearly all foodstuffs and now clothing and electrical goods. To further expand Tesco now sell insurance and provide financial assistance with loans and credit cards. During certain times of the year, Tesco will increase the amount they stock of certain items to compete with demand. One such example is ice cream; this will be in large stock during summer months and low stock during the winter months. Tesco has also shown flexibility by the way it has been engaging in a number of mergers and expansion programs. Tesco has shown that it is flexible in terms of locations as it has a large number of stores found outside the UK. This was in response to increased globalisation and technological advancements. (Hogan, 1998) Dependability; this may be defined as an organisations ability to deliver goods, services and time. An organisation must establish as a dependable system in order to succeed. As a performance objective it is very important as it defines the image that the organisation presents to its customers and whether the customers will continue to purchase their goods or services. If the company is very dependable then their revenue will increase and vice versa if they are not dependable. Dependability brings stability to the organisation and means that resources can be spent on improvement instead of on fixing mistakes. (Slack, N. , et al, 2007) One way that Tesco has implemented dependability is by ensuring that its delivery system is top notch meaning that its customers get their goods on time, every time. (Weiss & Mark, 1989) This is especially in regard to provision of insurance. The Company makes sure that customers wait for too long, if applicants are not viable, then Tesco informs them as soon as possible so that they do not have to waste time waiting unnecessarily. To conclude, it can be seen that Tesco is an extremely successful organisation that has extracted the necessary resources to succeed from new technology and finances. Tesco’s operations management is very effective with a highly structured distribution chain for its products and services and a highly structured way of choosing its suppliers who ought to have ability to deliver. (Tesco, 2007) Trough this Tesco has become very profitable and is ever expanding.

Financial Statements Paper Essay

The statement usually includes beginning balance, net income for the current cycle, dividends disclosed in the current period and ending balance. Balance sheets detail assets and claims to assets at a distinct point in time. Claims of creditors and claims of owners are examples of claims to assets. This particular statement provides a clear outline of the financial standing of the company as a whole. The direct function of a statement of cash flow is to present financial information such as cash receipts and payments during a set point in time. This assists investors and creditors to analyze a company’s financial position.. These statements address a company’s financing, investment and operational activities. Financial statements are useful to managers as these statements are utilized to measure the performance of the organization. Sales and expenses are compared to the income statements from previous periods by management to pinpoint possible problematic areas. Major variations adjure management to thoroughly understand what the causes of those changes are. Variations in liabilities and assets are examined on the balance sheets from one cycle to the next. Any large variations need to be identified, explained and reasons established to whether the variations benefited the company, or caused a loss as consequences of problems. From this point management can make adjustments to correct any problems, or future planning, so these losses or problems do not repeat again. The benefits can be capitalized upon as well. Financial statements are useful to employees for the reason of collective bargaining, discussing compensation, and ranking. Employees also use this information as a means to determine the ability of the company to provide retirement benefits and opportunities for advancement. Financial Statements are useful to investors as they hold an interest in the profits of the company. The investors are looking for a return in the money they have invested, usually in the form of stocks, as they seek increases in stock value and profitability. Lending decisions to be made by creditors are based upon the financial statements. The creditors want to ensure that the companies they are lending the funds to have the ability to manage its finances so they are not at risk of not being able to pay back its debts. References: Kimmel, P. D. (2009). Financial Accounting: Tools for Business Decision Making (5th ed. ). Retrieved from The University of Phoenix eBook Collection database..

Sleeping Beauty Assignment Example | Topics and Well Written Essays - 250 words - 2

Sleeping Beauty - Assignment Example The principal themes in the story sleeping beauty gender empowerment, gender equity, capitalism, equitable sharing of resources, non- discrimination, democracy, corruption and fairness equity in resource allocation. Disney movies have incorporated dancing so is the story of sleeping beauty, Disney movies also has a lot of animation using animals as human characters. Sleeping beauty also is an animation type of genre. The politics of gender in the sleeping beauty champions that gender equity is critical in today’s life. Discrimination on gender is something old fashioned. Equitable participation as depicted in the many women actors in the sleeping beauty story. Women empowerment is a clinical step towards solving domestic challenges. In the story, women can be referred to as the mothers of nature since the play the nurturing role effectively. Increased participation of w indicates the will to grab equal opportunities that come their way in the daily life of the society. In the western culture gender discrimination is

Companys letterhead Assignment Example | Topics and Well Written Essays - 1000 words

Companys letterhead - Assignment Example I have gone through each of the applications as they have come in and picked out the best candidates to be passed into the second round of consideration. You are an amazing candidate, so I am really excited to learn more about you. If soon you will be informed that you are passed into the second round of consideration, you will be hearing from us soon, if you haven't been contacted by us already. If you don't hear anything more from us it means that you got passed over. It may be that you are a strong writer though you just aren't a great fit for what we are trying to do (you don't have enough experience in clean technology and green media). So in case if you want to break into environmental writing without enough of the right experience I would advise you to start a personal blog and write about the things you want to get paid to cover. You are welcome to get back in touch with us in the future after you've built a more focused portfolio. I was helped by the fact that we are hiring writers; that is why I paid particular attention on how you were crafting an email applying for a writing job. It turns to be that you are unlikely the kind of writer we are looking to hire, if you didn’t succeed in doing this task. So if you don’t pass into the second round of consideration, pay attention on your job hunting email skills. A lot of people out there looking for work right now and you need every advantage that you can get if you want to beat them to a good job. If you are interested in my suggestions of how to improve your writing skills, please just subscribe on our mailing and you will get a list of 42 writing job application dos and don'ts.

Socail Media and the Digital Trends - Chanel Essay

Socail Media and the Digital Trends - Chanel - Essay Example The advert was effective. The marketers developed a unique product that upholds the quality standards of the company. Additionally, they use an equally unique yet effective marketing strategy. Social media enables the marketers to interact with their target audiences and share videos among other material that would enhance the profitability of the brand. Facebook provided the marketers with the interactivity that helps in the sale of the products besides the avenue to carry out market researches thereby understanding the patterns of demands. The information in the resource promises to influence retail of the products in future since the company will evaluate the success of such targeted sales thereby develop and position successive products on social media among other appropriate types of media. The success or failure of the event influences the profitability of the company thereby marking to change the company’s marketing strategies in the

To what extent have the decline of the traditional career and the Essay

To what extent have the decline of the traditional career and the qrowth of non-standard work arrangements led to a fundamental shift in the nature of the psych - Essay Example There is evidence of substantial changes in work and job profiles. The issues involved have far-reaching implications. This could lead to increased polarization of the work force, income disparities which is quite conspicuous now, and new forms of social exclusion. It may not be the end of work but its attenuation in terms of quality of life and of working life will boomerang. Have there been a decline of the traditional career and the growth of non-standard work arrangements and has this led to a fundamental shift in the nature of the psychological contract. This paper takes a close look at what could have been and what is. What is a contract? Contracts are a ubiquitous and binding feature seen in organisations the world over. A Contract serves as a bond that brings together employees and employers together to achieve the organisational goal. Although macro research has paid some attention to the study of contracts, such as by Williamson, 1975 (Robinson, Kraatz, & Rousseau, Changing Obligations and the Psychological Contract: A Longitudinal Study, Research Notes) 2, an elaborate study or focus on the research on this field leaves a lot to be desired. â€Å"Technological advancement is assumed to be the most irresistible driver of change. Technology will create new jobs and transform existing work to higher skill levels, or information technology will destroy jobs or degrade them into less skilled, more routine work (Changing Nature of Work 1999). The widespread shortage of IT workers suggests that jobs are being created on a large scale. Worker surveys indicate that skills and responsibilities have increased due to digital technology (Changing Nature of Work 1999)† (Kalleberg, NON-STANDARD EMPLOYMENT RELATIONS: Part-time, Temporary and Contract Work, www.cete.org, referred on 16.04.2006)3. â€Å"Martin and Butler (2000) found "widespread agreement" in the literature that the old employment contract is dead or

Dq3-Terence Essay Example | Topics and Well Written Essays - 1500 words - 1

Dq3-Terence - Essay Example Departmental efforts can be described as the shared responsibility that comes with teams working together to the many parts of the organization to achieve a universal goal (Freeman, 2012). For instance, in many cases within the organization, one department may predominantly be aware of the company project as the project exists within their ranks. In this regard, the other units within the organization are rendered idealess regarding the same. Due to the sense of shared enterprise, leaders must then coordinate the various teams to provide awareness and help so that the objective achieved. Business Intelligence is an information system that organizations adopts to enable them perform their function with ease. The company can collect data from both internal and external sources. Through the enterprise intelligence, it can be analyzed in the process as it comprises of many applications and tools of methodology (Reddy,Reddy & Hebseeba,2013). The executive and other departmental heads can then make informed decisions. Business intelligence has the capability to increase the organization revenue, provide a competitive advantage over the rivals. It also leads to efficiency in the operation while the management has the power to detect current market trends and outline any problem that requires urgency. Due to the immense benefits of the business intelligence, many organizations have embraced their usage within the body as it relatively eases operation and makes the organization achieve their target. But the systems are used by staffs who works from the many departments within the organization (Reddy,Reddy & Hebseeba,2013). Its foundation implementation must then be a concern to any department level. First the management must develop a clear and vivid vision for the organization of all the departments before they can lay its foundation within the organization. The outlined goals of

Prevention of Nursing Home Abuse Essay Example | Topics and Well Written Essays - 2500 words

Prevention of Nursing Home Abuse - Essay Example They are also not in a position to communicate the abuse and thus suffer in silence (IQ Nursing Homes.com, 2008). According to the reports from the U.S. General Accounting Office, 43% of elderly population will live in a nursing home during a lifetime and of these atleast 3 million will be subjected to abuse and atleast 300,000 will die following abuse and neglect at nursing homes (cited in Roberts, 2004). Abuse and negligence leads to violation of human rights of the elderly people who deserve to be respected and have the right to live with dignity and comfort. Infact, the very purpose of admitting then to nursing homes is to make them feel comfortable and get assistance round the clock. Exploitation of their physical and mental vulnerability by means of abuse and neglect needs to be condemned and prevented. Many organizations, groups, laws and reports have devised methods of prevention of abuse and neglect in nursing homes. This article explores some of the measures which help prev ent abuse and neglect. Abuse in the elderly can be physical, sexual, emotional or even wrongful death. Financial exploitation and abuse can also occur. Most of the times, abuse occurs by the staff of the nursing home. However, abuse can occur from other residents of the nursing home too. This article mainly concentrates on abuse from the staff. Abuse of the residents can lead to many consequences which vary in intensity ranging from mild discomfort to serious consequences like dehydration, starvation, serious injuries, bedsores and even death. The most common forms of abuse are neglect and caretaking mistreatment (Griffore et al, 2009). In majority of cases, abuse is not obvious and may be missed easily if a family member or a loved person is not watching intentionally.

The New NYSE Essay Example for Free

The New NYSE Essay The year 2006 witnessed dynamic changes in the structure of the New York Stock Exchange. For the first time in 214 years, the not-for-profit NYSE transformed itself into a for-profit, public company. This occurred following NYSE Group Inc.’s acquisition of the electronic rival, Archipelago Holdings Incl. in early 2006. It feels good, remarked John Thain, chief executive of NYSE Group and the creator of the deal to change NYSE’s status. He added: Now, of course, we have to demonstrate to our shareholders that theres real value to be had here. (Martinez, 2006) Unsurprisingly, investors expressed utter delight in the knowledge that they now would be given the chance to make great profits through NYSE. In fact, the welcome received by the new status of NYSE as a public company, saw shares of the newly public stock exchange up thirteen percent in its first trading session alone. The company began trading under the ticker symbol, NYX. Both Thain and NYSE Group Chairman Marshall Carter happened to be the first to purchase 100 shares each at $67 in ceremonial first trades. The price of shares was up $2.75 from Archipelago’s close before the status of NYSE was changed. After this, the stock continued to climb, and by midday was up $8.11. Moreover, the volume of trading at the for-profit NYSE was ten times that of Archipelago’s average daily trade (Martinez). The benefits of NYSE’s change of status are overwhelming as well as self-evident. In the fourth quarter of 2005, the largest United States equities exchange had run into a loss of $20.3 million. However, following its change of status, NYSE showed a massive profit of $45.5 million in the fourth quarter of 2006. According to The Financial Times, the new earnings of NYSE Group Inc. serve as a progress report following its transformational year during which the exchange went public through its reverse takeover of Archipelago, in the process eliminating its long-standing cap on fees, gaining United States options market share, and making its largest round of job cuts in a decade (Gangahar, 2007). In other words, the new for-profit public NYSE is expected to continue reaping the benefits of its deal with Archipelago in the times to come. The total revenue of NYSE in the fourth quarter of 2005 was $425.5 million. In the fourth quarter, 2006, the total revenue of the exchange was $658.5 million. Financial analysts expect NYSE’s earnings to go on increasing in the coming years, seeing that the year 2007 is expected to witness the finalization of the roll out of NYSE’s hybrid market, a continual of the exchange’s integration of the electronic exchange, Archipelago, plus the completion of the Euronext deal. As a matter of fact, the Euronext deal is expected to be the next big thing to change NYSE’s life as a stock exchange. Shareholders have already approved of NYSE’s deal to merge with the pan-European exchange Euronext, creating the first transatlantic equities exchange in the process. The deal costing $14.3 billion is expected to close as early as April 2007 (Gangahar, 2007). NYSE has also announced its terms for an alliance with the Tokyo Stock Exchange in order to cooperate in a variety of business areas. Recently, the NYSE was further seen purchasing a five percent stake in the National Stock Exchange of India. Next, the exchange is eying China for a new deal to meet its goal of forming a â€Å"24-hour, truly global exchange† (Gangahar, 2007). Still, analysts are eying Euronext as the next biggest hope of NYSE to make gigantic profits. The shareholders of Euronext NV, a stock exchange incorporated in the Netherlands and based in France, have also approved the acquisition of Euronext by the New York Stock Exchange. And, in fact, NYSE has also launched its first offer for Euronext shares through the new NYSE-Euronext entity. In January 2007, The Financial Times reported that NYSE has already begun to offer 0.98 of a share in the new transatlantic exchange, for each Euronext share held before this time, in addition to $27.75 in cash. Alternatively, the first transatlantic equities exchange allows Euronext shareholders to opt for 1.2633 shares in the new company for each existing share, or to take a straight cash equivalent of $123.76 per share (Flaherty, 2007; Sliva, 2007). The completion of the Euronext’s deals with NYSE depends on the latter acquiring at least fifty percent of all Euronext shares (Sliva). Seeing that only two percent of Euronext shareholders have disapproved of the idea of the creation of the world’s first transatlantic equities exchange, in all probability the deal will go through (Gangahar, 2006). Regulators in both the United States and in Europe have signed an agreement on the question of market oversight of the new transatlantic equities exchange (Flaherty). According to a news report published in The Financial Times, the new deal truly is a â€Å"clear signal that isolationism is an untenable stance amid the rapid consolidation of global stock and derivative exchanges.† The deal has additionally been described as a â€Å"slap in the face† for those who claimed aforetime that such deals are possible only between European nations, and a transatlantic merger would result in a â€Å"regulatory creep† from the United States to Europe (Gangahar, 2006). NYSE Euronext, the next big thing on NYSE’s business agenda, is expected to have a market capitalization of $27 billion. And, the combined global market capitalization of companies that are listed on NYSE Euronext, is expected to be $25,800 billion – almost four times the combined market capitalization of companies that are listed on the London Stock Exchange (Gangahar, 2006). The next big thing about to happen to NYSE is further expected to alter the dynamic of a rapidly changing industry. In the past, the NYSE and its main rival, the Nasdaq, had been losing the battle for new listings to Hong Kong and London. Besides, smaller companies, especially from Russia and China, were seen to rush to London’s Aim market, attracted by cheaper listings and easier standards (Gangahar, 2006). NYSE Euronext is expected to change these market dynamics, if for nothing else, then for the excitement it has engendered among those who trade in equities around the world. The NYSE and Euronext have both agreed to proceed as separately regulated entities. To put it another way, even if the United States regulatory regime is found to be too harsh by European companies, NYSE Euronext would present them with the option to list on Euronext alone. In so doing, the combined group is expected to benefit (Gangahar, 2006). What is more, analysts expect all investors of NYSE and Euronext to benefit through the deal (Bruno, 2006). Only time will tell the exact value of these benefits from year to year. References 1. Bruno, Joe Bel. (2006, December 15). â€Å"Individual Investors Stand to Benefit as NYSE closes in on Euronext deal.† The Financial Times. 2. Flaherty, Anne. (2007, January 26). â€Å"SEC, European Regulators Agree On Market Oversight of NYSE Euronext.† The Financial Times. 3. Gangahar, Anuj. (2006, December 23). â€Å"NYSE and Euronext Recast an International Dynamic.† The Financial Times. 4. . (2007, February 2). â€Å"Archipelago Deal Lifts NYSE Profit Stock Exchanges.† The Financial Times. 5. Martinez, Michael J. (2006, March 8). â€Å"NY SE Goes Public After Two Centuries As Not-for-profit Exchange.† The Financial Times. 6. Sliva, Jan. (2007, January 10). â€Å"NYSE Opens Offer for Euronext Shares.† The Financial Times.

Social Policies Poverty And Social Exclusion

Social Policies Poverty And Social Exclusion This essay will discuss Poverty and social exclusion. There will be a brief explanation of the terms that will be used throughout the essay. As we know, there are many writers who express their views; therefore references will be used to explore different writers understanding on certain subjects. Firstly it will focus on poverty and discuss different meanings in relation to poverty. Then secondly, it will look at different policies that have been an influence on poverty and social exclusion. Thirdly, it will consider all different factors that link to poverty and social exclusion. Finally, it will summarise the answer to the original question and discuss what has been covered throughout the essay. Social Policy is a subject that relates to the welfare state, human well being and other factors that influence human well being. It includes many policies relating to: housing, education, benefits and other related policies that are put in place for the welfare of state and its people. Social Policies have been changing from time to time; therefore as social workers, it is important to be up-to-date. Policies are implemented by all people: employees, workers and general public. They promote and improve the welfare state as well as human living. This will be looked at in more detail later on. The concept of Poverty can be described in two ways: the state of an individual whom may not be able to acquire the basic necessities such as: food, shelter and warmth. Another definition of poverty is when a certain part of society feels or is excluded. Blakemore and Griggs discuss that: One way of seeing poverty as relative is to say that people who have incomes below half the national average are poor (2007 p: 98). This could mean that one may have the basic necessities but lack involvement within the community, social life or living a luxurious lifestyle, which is also known as Relative poverty. It is important that society is made aware of what poverty is and the role of different Social policies that are administered to tackle poverty and related issues such as social exclusion. Social Exclusion itself is the result of poverty in most cases. One of the best definition that describes social exclusion was expressed by Child Poverty Action Group by Walker and Walker(2007): Social exclusion refers to the dynamic process of being shut out, fully or partially, from any of the social, economic, political and cultural systems which determine the social integration of the person in society. Social policies were created for the purpose of stability and equality in society. One of the main aims was to change the environment the individuals live in and to enhance their lives, through which social inclusion would be applied. Although there are different Policies, there principles remain the same throughout all administered policies, which is to promote Equality through three processes: Fairness, Equity and Equal of Opportunity. In the early 1940s, Beveridge report was put in place to reform social policy. Beveridge introduced child benefits, taxation and benefits for those who are unemployed. This was done through a weekly contribution of those who worked. It shows with admirable clarity and directness how involuntary poverty can be abolished from British social life by a redistribution of about one-tenth of the national output of goods and services in favour of those citizens whose needs are greatest (Owen, 1943, p743). Another policy that was introduced later in 1990s was The Third Way. This policy focuses on two aspects: to make work pay and to strengthen responsibility and community. It conveys the message that the reform of welfare systems is a moral enterprise that requires personal and emotional commitment by those engaged in its implementations (Jordan, 2000). This involved focusing more on means- tested benefits and provide more support to low- wage workers through a tax system. The welfare programme looks at reformation by adopting tough enforcement methods in which the public is directed towards getting trained, qualifications and employment. Bailey (2006) looks at the employment, poverty and exclusion. He touches upon the topic of welfare benefits and labour market. He discusses that Organisation for Economic Cooperation (OECD) policy statements have increased its focus on individuals having positive financial motivation to work, and move away from welfare benefits. They have introduced support through personal advisers for those who are unemployed. Also, Levitas (1998) mentions that although unemployment has had a negative impact on individual welfare, the Government argues that it is encouraging people to work, as it promotes the necessity of social inclusion through paid work. Social exclusion is the result of poverty, as mentioned earlier. However poverty is linked to many complex factors that play a huge part in peoples lives. Majority of the factors are linked to one another, this creates more of a cycle that is hard to break unless policies are not implemented. Pierson mentions that Social exclusion is a process that deprives individuals and families, groups and neighbourhoods of the resources required for participation in the social, economic and political activity of society as a whole (Pierson 2002:7). Some of the components to social exclusion are: low income, unemployment, poor housing, and poor environment. Adams (2002) discusses that the higher risk of unemployment and low pay, the more likely they are to face poverty in comparison to other population. Several people who are unemployed suffer from deprivation in many areas. For many people, employed work and its loss have great significance, since they define themselves, and achieve social status. Vast people and families do care if they earn money and provide for the family. This involves the self esteem as well as their perception of their own status. In relation to this, Adam also discusses that unemployed people are more likely to experience poverty than others, all because of their low benefit entitlement, which would disable them from social activities. Since social workers are asked to develop a critical understanding of employment policies, it is important to understand such issues that relate to unemployment. Sheppard (2006 p: 17) mentions that there are factors such as: neglect of proper care, drug abuse, crime as well as families and parents that are single and broke contribute towards excluding people socially. Those people were classed as outsiders due to the amount of inadequate socialisation. He emphasised on the fact that parents are the central and that more commitment in childcare should be made to tackle the social exclusion issue. Sheppard also includes the argument that poverty brought many excluding effect: low levels of food and nutrition, mental as well as physical poor health and not to mention deprived environments. Therefore even if they maintained their hopes and desires to enter a more socially accepted lifestyles, it would be with such great difficulty. He uses the example of a homeless person applying for benefits without an address. Payne (2006) focuses on the mental health element. She relatively talks about how Department of Health identifies mental health problems as one of the factors that influence poverty that associate with social exclusion. Payne also explores people with mental health should be included rather than excluded as social exclusion and poverty will only increase the mental ill health, therefore through this way, mental ill health could be decreased. In relation to this, strategies are set out to identify ways of getting people with mental ill health to explore the working environment; housing and community involvement, which may influence their mental ill health in a more positive way. As we can see, Social Exclusion is a widespread subject that covers many areas of Poverty. The question still arises: Are Social Policies the product of history and not logic. This essay has looked at different policies and approaches that have been made to improve the welfare state. This essay may have justified that it is the product of history and not logic. However, some may argue that Social Policies are the product of history and logic combined together. Either way, this essay surely proves that policies have been and will change from time to time for the purpose of a better welfare state.

Communication In Chronic Obstructive Pulmonary Disease Palliative Care Nursing Essay

Communication In Chronic Obstructive Pulmonary Disease Palliative Care Nursing Essay The following is an evaluation of enhanced communication techniques in palliative care for patients with chronic obstructive pulmonary disease (COPD) with reference to a case study. COPD is a debilitating terminal condition that is distinguished by a progressive airflow obstruction, primarily caused by smoking. It is usually not fully irreversible (NICE, 2010). For an airflow obstruction to qualify, post bronchiodilation FEV1/FVC is less than 0.7 ( FEV: forced expiratory volume in one second, FVC: forced vital capacity). The course of COPD is highlighted as being an illness characterised by a long inexplorable disease, punctuated with protracted periods of disabling breathlessness, reducing exercise tolerance, causing recurrent hospital admissions and premature death (Buckley, 2008). Diagnosis of COPD is not entirely dependent on severity of breathlessness but also history, physical examination and also spirometry confirmation of airway obstruction (Buckley, 2008; NICE, 2010). Because of the difficulty with the prognosis of COPD, it presents a challenge for physicians and healthcare practitioners to provide adequate care to patients (Curtis, 2006; NICE, 2010). Due to the nature of symptoms associated COPD (such as dyspnoea), patients more often die with COPD or related than from it (NICE, 2010) with mortality rate for men steadily reduced from 1970 while womens has seen a small but steady rise, although COPD mortality is on the general rise. Buckley (2008) reported that there was a relatively higher proportion, (72%) of COPD who die in hospital care, compared with 12% at home and none in hospices. Palliative Care Palliative care has several definitions but has similar concepts according to Campbell (2009). NICE (2010) guidelines define palliative care as active holistic care of patients with advanced progressive illness. Curtis (2006) defines palliative care as the goal being to prevent and relieve suffering and support the best possible loyalty of life for patients and their families and their families, regardless of the state of disease or the need for other therapies. The general aim of palliative care is to improve the quality of care through alleviation of symptoms and promoting comfort over treatment as some treatment involve mechanical aids which patients might find taxing (Curtis, 2006). This has brought about the suggestion for the need of specialised centres (Curtis, 2006) considering how little attention palliative care quality has received. Curtis (2006) then went on to report that there was a very low number of patients who talked about end of life care with their physicians, which can be made even more difficult with loss of emotional control or fear of having little training (Wittenberg-Lyles et al., 2008). There is also a need for patients to show more confidence in their carers (Curtis, 2006). The Gold Standards Framework GSF (2006) Prognostic Indicator Guidance (PIG) lists the criteria that would assist in making a prognosis for requirement of palliative care as: Severity of disease, such as FEV1 being less than 30% predicted Recurrent hospital admissions Long term oxygen therapy Shortness of breath with 4/5 grade on the Medical Research Council (MRC) Dyspnoea scale Signs and symptoms of right heart failure Other factor such as non invasive ventilation (NIV) The GSF (2006) PIG summarises which three steps are key to determine which patient needs palliative care. They are Identifying patient based on criteria Assessing needs Planning administration The above steps are dependent on patients satisfying chronic condition criteria listed earlier. Communication Communication is the process of enhancing thoughts or information between individuals through different media: spoken or written and through body language gestures (Payne et al., 2004). Buckley (2008) states that good communication is the key to the delivery of effective supportive palliative care services as it has an interpersonal perspective that is about health professionals and patients engaging emotionally (Wittenberg-Lyles et al., 2008). Delivering bad news is not an easy or comfortable feat. The United States EPEC (Education for Physicians on End of life) is a training program based on SPIKES model (Setting, Perception, Invitation, Knowledge, Empathy, and Strategy/Summary), that has listed steps to follow that in the delivery of bad news, summarised below: Preparing to meet i.e. location setting Assess what patient knows about condition Determine amount of information to give patient Delivery of news Respond to any questions from patient and/ or family Make follow up plan Case Study: Patient profile The subject used in the case study was an eighty year old man in a nursing home who presented as generally quiet, with long standing chronic obstructive pulmonary disease (COPD). Consent was obtained from him to participate in the study with the potential benefits explained to him. The subject had history of chain smoking and was diagnosed with heart murmurs in 1986. Long term smoking causes the damage to the lung tissues and repeated chest infections (NICE, 2010) and is a major contributor to COPD. The subject was prescribed bronchodilator salbutamol 2.5mg/2.5ml nebuliser liquid unit dose vial, administered by mask one or two ampoules four times a day. It was used as and when it was required although he did not usually exceed three doses daily. The subject had shortness of breath with basic living tasks and dependent on staff. The subject had several GP visits for COPD associated chest infections in the last twelve months and had to be supported by pillows in an almost upright position to sleep to reduce the discomfort caused by the dyspnoea. The subject was chosen as he satisfied most of the criteria from the GSF (2006) in terms of shortness of breath, reliance on the bronchiodilator, several GP visits for chest infections and long history of smoking. The do not resuscitate (DNR) forms were filled in passed on to the multidisciplinary team that include the Ambulance service with the family aware. Communication in Palliative care with COPD Different communication techniques were employed when it came to dealing with the subject to reassure him and the family skills i.e. maintaining appropriate eye contact, low tone of voice is the key to the delivery of effective supportive palliative care service (Buckley, 2008). A SPIKES model approach was employed with the current case study. Discussion It is essential for nurses to establish a therapeutic relationship with patients as they interact more with the patient, employing strategies such as empathy, spending more time listening and being more initiative (Edwards, et al 2006). Communication sometimes can also been limited by workplace policies or insufficient training (Edwards, et al 2006), which raises the need for proper training to better these relationships (Davidson et al., 2002). The current case study was able to overcome the difficulties of communicating with the patient and family as they had been there already offering support, and hence during the meeting to discuss the end of life they stated that they were satisfied with the progress as part of the continued care. The subject did not seem to be happy with the nebulisation therapy at first and he expressed fear and anxieties because it was a new therapy, which was not unusual (Stevens et al., 2009). Curtis (2006) study argues that health care for patients with COPD was often initiated proactively based on a previously developed plan for managing their disease. The subject was given a choice if he wanted a member of his family to be present and if the time was appropriate to which he had no objection, being emotionally functional and able to make his decisions (Lemmens et al. 2008). It was also noted that the subject became more relaxed when the nebulisation therapy was explained to him that it would reduce the dyspnoea, rattly chest, symptoms that he acknowledged made his breathing difficult and other symptoms such as wheezing and sleep disturbance. It is important to have a suitable location where there would be few disturbances when breaking bad news (Stevens et al, 2009; Wittenberg- Lyle, 2006). In the case study, the subjects family was contacted in order to arrange a meeting to discuss his diagnosis, the way forward regarding his treatment and control of his symptoms and also make them aware of any changes that would need to be made in terms of his care. This afforded the subject and family to be to be reassured that the patient would be made as comfortable as possible to alleviate the symptoms of his condition through to end of life and bereavement. Conclusion Palliative care for COPD has not received much attention until recently. Communication is a very important aspect for high standards of care particularly in end of life care. Nurse to patient relationships are even more important as they play a major role; liaising with the family and multidisciplinary team to make the end of life as comfortable as possible. There is still much to be done in terms of communication training for nurses and also getting more physicians involved. The role of a multidisciplinary team is highly valued as it helps streamline the planning and administration of palliative care. The current case study found that the patient was happy with the way that the way that his care was planned.

Long overdue Conversation :: Drama

Long overdue Conversation Topic / Scripture : Using the time God gives us; the importance of family; Mat. 20:6 â€Å"About the eleventh hour he went out and found still others standing around. He asked them, â€Å"Why have you been standing here all day long doing nothing?† Setting: Anywhere. The audience will assume that this is just a father having a conversation with his daughter, Could be in the kitchen, the living room, outside on the porch†¦anywhere. Characters: Don – the father. Tender hearted, he’s nervous, uncomfortable with this conversation, but intent on finally doing this right. Scene: Don is sitting on a chair facing the audience, wringing his hands, looking nervous but determined as he begins this conversation. Don: This is a little awkward†¦Just bear with me honey, we need to talk about some things†¦ I probably should have done this sooner, but you caught me off guard†¦you know? Yesterday you were playing with Barbies and riding your little pink bike with the training wheels still on. Then I turned around and you were going on dates, looking at colleges, wearing that goo on your face†¦(sheepishly and a little defensively) I got used to it. J I sure could have used more time in there somewhere. Another decade or two. Okay, so here we go†¦ Ummm†¦drugs are bad†¦don’t use them†¦they could rot your teeth†¦no, um, kill your brain cells†¦and stuff. You probably shouldn’t smoke either†¦yeah, I know I do, but you’re still too young, cigarettes really will rot your teeth. Plus, your mom really hates how they smell†¦so it’s better if you just don’t start. (At this point he pulls out a crinkled up piece of paper and spends some time smoothing it out and fidgeting with it, checking it, etc.) I, uh, wrote a list†¦J†¦I didn’t want to forget anything†¦you know, while I have momentum going and stuff†¦ Okay, so here’s the big one†¦it’s uh†¦well, this one’s really important†¦boys are†¦uh†¦boys are great†¦but, they’re still boys you know? So you’ve got to be really careful. You’ve got to be smart honey. You’re so smart, and funny. And you’re really talented and you’re beautiful. I’m not just saying that because I’m your dad. You really are. Boys call the house all the time for you. They do! Hey, I didn’t say we answer it every time, that’s why we have caller ID. No, I’m just kidding honey†¦kind-of. Anyway†¦(looking down at his list again)†¦so, you just need to be on your toes. Don’t believe everything they tell you. And you should probably bring a friend with you on your dates. Bring several friends. The more the merrier†¦(chuckles, but it’s clear he means it).

Priestleys portrayal of Inspector Goole in An Inspector Calls Essay

Consider the ways in which Priestley's portrayal of Inspector Goole and the way in which he carries out his investigation of the Birling family and Gerald Croft create dramatic interest? 'An inspector calls' was written in 1945 by J.B Priestley. The play is set in 1912 and centres on Arthur Birling, a prosperous manufacturer and his family, who are celebrating the engagement of their daughter, when they are suddenly and dramatically interrupted by the arrival of the police inspector. The inspector, investigating the suicide of a young working-class woman, uncovers each of the family's shameful secrets that link them with the young girl and her death. Priestley was a strong believer in socialism, opposing capitalism which exploits and degrades the working classes to benefit the rich. Priestley believed that whether we acknowledged it or not, we are all part of one big community and have the responsibility to look after everyone else, no matter who they are or what their status is. In 'An inspector calls' Priestley tries to highlight these beliefs and educate the audience on how they should treat one another. This message was particularly effective to the audiences of 1946 as, weary from the Second World War they were looking for change. The Inspector's quote of 'Fire, blood and anguish' refers to the 1st and 2nd World Wars, would have had great emotional impact on the audience and caused them to think more deeply into the play and Priestley's message. During the Second World War social classes were forced to mix, children were evacuated to where was safest and not according to class, all young men were forced to mix in the Trenches and on the Front Line, the women left at home were forced to all work in the factories together, al... ...ugh they are his social superiors. He is or need not be a small man but however creates an impression of massiveness and of purposefulness; this comes across in the whole atmosphere he creates. He uses many tactics such as the photograph and graphically detailed descriptions to shock both the audiences and the characters. By shocking the audience he can best get across his moral warning and by shocking the other characters he can best get them to open up to him and admit their wrongs. The Inspectors overall approach to the investigation is totally irregular, which creates dramatic interest and in some points emotional conflicts which create tension and keep the audiences attention. But even after he has left, he is still creating interest and tension as the characters try to decide whether or not he was a real inspector and in fact whether or not he was actually real.

Swot Analysis of Skoda

Executive Summary The aim of this report is to illustrate the present situation of Skoda company in China car market and the world car market. By using SWOT analysis, describing Skoda had done a successful work in China. Evaluate the suitability of China as a foreign market for Skoda and it's product cars and Skoda may stay in China for more development. This will be assessed in the PESTEL analysis. Introduction Two young men, Vaclav Laurin and Vaclav Klement, started to designed and produced bicycle in Czechoslovakia in 1895. 30 years later, the small factory became Skoda which went on to produced farm ploughs, cars, airplanes and bicycles in Eastern Europe. Between 1925 and 1990, Skoda overcame hard times which included war, political change and economic depression. The management of Skoda chose Volkswagen AG (VAG) as their strong foreign partner at 1990 and the reason was VAG has strong reputation, reliability and high quality. In addition, VAG is the largest car manufacturer in Europe, which taking 12% share at the world market by providing more than five million cars a year. Volkswagen AG comprises seven different car brands and each brand has its own specific character and is independent in the market. (SWOT ANALYSIS : SKODA, 2009) Latest Performance ? Skoda–Historical sales of world market model |2002 | |Weaknesses |Threats | |Outdated infrastructure |Competitors release same level products | |Not enough series of products |Expensive non-renewable energy | |Less famous |Increasing wages of killed workers | |Poor image | | PESTLE Analysis PESTLE stands for: political, economic, social, technological, legal, environmental. ‘PESTLE analysis is a tool that can aid organization making strategies by helping them understand the external environment is which they operate now and will operate in the future,'(PESTLE Analysis,2003) China ? Political – Low price of the raw materials – Low restrictions of car industry – Various of policies support the car industry(Guo peng, 2010) ? Economic – Economics of China is growing fast while other counties is in economic recession, which helps people can offer cars in their daily lives. ? Social – China has a very stable society, which is helpful to the sales and the innovation of Skoda. ? Technological – China government has released some encouragement policies on car manufacture and car market development. This made the technology of making cars have a large of improvement and it is suitable for Skoda to do the research and innovation. ? Legal – China has a complete legal system which can protect the company well. Environmental – China government has done many things to ensure the supply of petrol. This would also help the car sales. Conclusion In Conclusion, Skoda's overall performance in China is excellent. In these four years, it has a great improvement of sales from zero to 123 thousands a year and the number is still growing. Skoda shows a high level of quality, innovation, reli ability and service. However, it still has to work on the weak areas. In China, Skoda's market share is still not large enough and the government gives a great environment for the car industry. Therefore, it would be a better choice for Skoda to stay in China. References Guo peng. (2010). PESTLE Analysis of China car industry : http://wenku. baidu. com/view/b771d4335a8102d276a22f12. html. Viewed 6/8/2010 PESTLE Analysis. Renewal Associates. 2003: http://www. renewal. eu. com/resources/Renewal_Pestle_Analysis. pdf. Viewed 5/8/2010 Skoda in China sales over 83 thousands in the first half of 2010. (2010). Homepage Skoda Auto: http://www. skoda. com. cn/skoda/pages/data/new/news_20100721145609_000000000707. jsp. Viewed 5/8/2010 SWOT ANALYSIS : SKODA. Yogin Vora on August 6, 2009: http://managementfunda. com/swot-analysis-skoda/. Viewed 6/8/2010

The Usage of Foreshadowing in “The Book Theif

Stephan Muccular 5/17/12 English 1 Mr. Smith Authors use a variety of literary devices to make a book more interesting and keep the reader in suspense. The author of the â€Å"The Book Thief†, Markus Zusak, likes to use the literary device called foreshadowing. He makes the book suspenseful, revealing how characters die early on and telling the reader the outcome to certain events. By revealing how characters die early on and telling the reader the outcome, Zusak makes the novel more suspenseful with his use of vague descriptions of the scenes which he is foreshadowing.In the book, Zusak tells the reader early on that Rudy, one of the main characters, is going to die. â€Å"He didn’t deserve to die the way he did†. Zusak then tells the reader how he died and two years later he is going to die. â€Å"Recollections like those merely remind me that he was not deserving of the fate that met a little under two years later†¦He’d have been glad to witness h er kissing his dusty, bomb-hit lips. † Rudy dies from a bomb. The question the reader would have is; two years from what?That’s what leaves the reader in suspense–the fact that the reader knows Rudy will die in two years, but does not know exactly when those two years start. This is a way Zusak tells us the future without giving us all the details. With just a little information, the reader is eager to read more about the situation and satisfy his curiosity. Alex Steiner and Hans Huberman had to serve the same punishment? â€Å"Alex Steiner wouldn’t have suffered the same punishment as Hans Huberman. At this point in the book, the reader wouldn’t know that why Hans and Alex would be punished or what their punishments would be. We know from this quote that they would be punished and their punishment would be the same. But this leaves the reader with questions like: What is Han’s punishment? Why is Alex Steiner being punished? Why is the punis hment the same? These questions have yet to be answered. Zusak is giving the reader a statement that raises questions that are not answered until later in the book, making the novel more suspenseful.Towards the end of the book, Zusak gives the reader a look into when the world ended for Liesel Mimmel, the main character. â€Å"I must warn you that it was raining when the world ended for Liesel Mimmel†¦.. Rudy Steiner slept. Mama and Papa slept. .Fra Holtzapfel, Fra Diller. Tommy Muller. All sleeping. All dying. † In the foreshadowing, Zusak tells the reader that everyone dies around Liesel, which is why her world ended.This leaves the reader in suspense because Zusak only tells the reader what happens–not when it happened, why it happened or why Liesel was still alive. These quotes from â€Å"The Book Thief† mentioned were examples of how Zuzak makes this book thrilling. By using vague descriptions of scenes, Zusak is foreshadowing which makes the reader wa nt to read more to satisfy the reader’s curiosity. This is how Zusak made â€Å"The Book Thief† so interesting and how, when a reader picks up the book and starts reading, the book is hard to put down.

Investment in Vietnam

GUIDEBOOK ON BUSINESS AND INVESTMENT IN VIETNAM BERLIN, 2011 FOREWORD Over the past two decades, Viet Nam’s economy has bee n developing rapidly owing to its â€Å"Doi moi† (Renovation) policy and activeness to integrate itself into the global economy. W ith its enormous efforts and determination, and effective cooperation with international partners and friends worldwide, Viet Nam is taking firm steps towards industrialization and modernization.With a stable political environment and great economic potentials, Viet Nam is an attractive destination for doing business and investment. The Government of Viet Nam has been ceaselessly endeavoring to improve the investment climate with the aim at creating an increasingly business-friendly environment in Viet Nam. Germany is the biggest economic partner of Viet Nam in Europe. The economic cooperation between the two countries has been fruitfully burgeoning.In an effort to further strengthen the economic cooperation between Vie t Nam and Germany, t he Embassy of the Socialist Republic of Viet Nam in coordination with the relevant ministries of Viet Nam to publish the Guidebook on Business and Investment of Viet Nam, which is expected to provide German businesses with an overview of the Viet Nam’s economy and its business and investment climate.We are confident that German businesses can find helpful information and guidelines on investment and doing business in Viet Nam from the Guidebook, and thereby have a deeper understanding of the Viet Nam’s economy, a dynamically emerging and reliable destination for international investment flows. We deeply thank the Ministry of Foreign Affairs and the Ministry of Planning and Investment of Viet Nam for their kind support and assistance. We would like to express our sincere thanks to Dr.Andreas Stoffers, Board Member of German Business Association Vietnam and Member Executive Committee Euroean Chamber of Commerce Vietman for reviewing this book. W e al so heartedly thank Marktforschung und Kommunikation GmbH for her great cooperation and excellent coordination in publishing the Guidebook. Dr. Do Hoa Binh Extraordinary and Plenipotentiary Ambassador of the S. R. Viet Nam to the Federal Republic of Germany 2 ABBREVIATION ASEAN BCC BOM BOT BT BTO CEPT CIT CPC DOLISA DPI EIAR EL EPC EPZ EU EZ FIC FOB GDP HTZ IL IZ JVC LTT LUR LURC MFN MOIT MOLISA MONRE MOST MPI NOIP ODA PCT PIT PPP RO SBV TTC USD VAT VCAD VNDW TO Association of Southeast Asian Nations Business co-operation contract Board of Management of IZs, EPZs, HTZs and EZs Build-operate-transfer (including its derivative forms, BTO and BT) Build-transfer Build-transfer-operate Common Effective Preferential Tariff Scheme Corporate income tax Civil Proceedings Code Provincial Department of Labour, War Invalids and Social Affairs Provincial Department of Planning and Investment Environmental impact assessment report Enterprise Law Environment protection commitment Export processing zone European Union Economic zone Foreign-invested company Free on board Gross Domestic ProductHigh-tech zone Investment Law Industrial zone Joint venture company Law on Technology Transfer Land use rights Certificate of land use rights Most Favoured Nation Ministry of Industry and Trade Ministry of Labour, War Invalids and Social Affairs Ministry of Natural Resources and Environment Ministry of Science and Technology Ministry of Planning and Investment National Office of Intellectual Property Official development assistance Patent Cooperation Treaty Personal income tax Public Private Partnership Representative Office State Bank of Vietnam Technology transfer contract United States of America dollarValue-added tax Vietnam Competition Administration Department Vietnamese Dong W orld Trade Organisation 3 TABLE OF CONTENTS FOREWORD †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2 VIETNAM AT A GLANCE †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 I: KEY FACTS †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 II: POLITICAL SYSTEM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ III: ECONOMY †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 IV: INFRASTRUCTURE †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 V: VIETNAM- GERMANY ECONOMIC RELATIONSHIP†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 21 LEGAL GUIDE FOR INVESTING AND DOING BUSINESS IN VIETNAM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 24 I: INVESTMENT REGULATIONS †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 24 II:TRADE REGULATIONS â € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 30 III: TAXATION †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 35 IV: CUSTOMS REGULATIONS †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 42 V: LAND LAW †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 44 VI: FOREIGN EXCHANGE AND LOANS †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 VII: EMPLOYMENT †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 52 VIII: COMPETITION LAW †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 58 IX: ENVIRONMENT †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 62 X: INTELLECTUAL PROPERTY †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 64 XI: TECHNOLOGY TRANSFER †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 XII: DISPUTE RESOLUTION †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 73 BUSINESS TRAVEL GUIDE TO VIETNAM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 77 APPENDICES APPENDIX 1: LIST OF SECTORS ENT ITLED TO INVESTMENT INCENTIVES †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 80 APPENDIX 2: LIST OF GEOGRAPHICAL REGIONS OF INVESTMENT INCENTIVES †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 84 APPENDIX 3: USEFUL CONTACTS AND ADDRESSES IN VIETNAM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 87 4 VIETNAM AT A GLANCE I: KEY FACTS ? Official name: The Socialist Republic of Vietnam. Capital: Hanoi. ? Largest city: Ho Chi Minh City. ? Administrative subdivisions: 58 provinces and 5 municipalities (Hanoi, Hai Phong, Da Nang, Ho Chi Minh and Can Tho). ? Official language: Vietnamese. ? Location: In the center of Southeast Asia, neighboring on China to the north, Laos and Cambodia to the west, and the East Sea and Pacific Ocean to the East and South. ? Area: 331,690 km2. ? Coast line: 3,260 km. ? Climate: tropical in south; monsoonal in north with hot, rainy season (mid May to mid-September) and warm, dry season (mid-Octobe r to mid-March). Population (2010): 86. 9 million, by area (urban: 30% and rural: 70%) and by age (less than 15 years old: 24. 7%, 15 -64 years old: 68. 5% and more than 65 years old: 6. 8%). ? Population density: 262 people/km2. ? Literacy: 93. 7%. ? Natural resource: Energy resources (oil, gas, coal, hydropower and wind power); minerals (bauxite, iron ore, lead, gold, precious stones, tin, chromate, anthracite, construction materials, granite, marble, clay, white sand and graphite); sea and tropical forestry resources and agricultural potential. ?Currency: Vietnamese Dong (VND). ? Exchange rate (April 2011): 1 USD = 20,725 VND. ? GDP (2010): 104. 7 billion USD. ? GDP per capita (2010): 1,204 USD. ? GDP real growth rate (2010): 6. 78%. ? GDP by sector (2010): Agriculture (20. 6%), Industry (41. 1%) and Service (38. 3%). ? Exports: Crude oil, garments, shoes, marine products, electronic products and components, funitures, rice, coffee, rubber, tea, pepper. ? Major export markets: US A, Japan, China, Australia, Singapore, Germany, South Korea, Malaysia, the Philippines, Netherland. ?Imports: Machinery & equipment, petroleum products, pharmaceuticals, fertilizer, steel products, metal, textile, garment and shoe inputs, vehicles. 5 ? II: Major import markets: China, Japan, South Korea, Taiwan, Singapore, Thailand, USA, Malaysia, India, Germany. POLITICAL SYSTEM The current Constitution was adopted in 1992 and amended in 2001. It clearly indicates that the State is â€Å"of the people, by the people and for the people†. The people access the State power through the National Assembly and People's Councils, which are composed of elected representatives who represent the people's will and aspirations.The Constitution endows all citizens, men and women alike, with equal rights in all political, economic, cultural and social spheres as well as in family affairs, the right to and freedom of belief and religion and the right to choose and practice a religion, the r ight to and freedom of movement and residence in Vietnam, and the right to go abroad and return home as stipulated by laws. The National Assembly is the highest representative body of the people, endowed with the highest State power of the Socialist Republic of Vietnam.It governs constitutional and legislative rights, decides fundamental domestic and foreign policies, socioeconomic tasks, and national defence and security issues, etc. It exercises the right to supreme supervision of all activities of the State. The State President is the Head of State, elected by the National Assembly from among its deputies to represent the Socialist Republic of Vietnam in domestic and foreign affairs. The term of office of the President is the same as that of the Chairman of the National Assembly.The Government is the executive body of the Socialist Republic of Vietnam. It has the same term of office as the National Assembly and administers the implementation of State affairs in the fields of poli tics, economics, culture, society, national defence and security and foreign relations. The government is headed by the Prime Minister and comprises Deputy Prime Ministers, Ministers and other government members. The Supreme People's Court is the judicial body of the Socialist Republic of Vietnam.It supervises and directs the judicial work of local People's Courts, Military Tribunals, Special Tribunals and other tribunals, unless otherwise prescribed by the National Assembly at the establishment of such Tribunals. The Supreme People's Procuracy oversees the enforcement of the law and exercises the right to prosecution, and ensures serious and uniform implementation of the law. III: ECONOMY Since the Doi moi (reforms) were introduced in the mid-1980s, Vietnamese economy has changed rapidly.Replacing the old centrally-planned economy, Vietnam has shifted to a new economic structure namely a socialist-oriented market economy, and has gained significant success. Today the aim of Vietnam is to become a basically industrialized country by 2020. 6 Overall achievements Vietnam embarked on Doi moi in 1986 and the country has seen many dramatic changes since. Over the last decade it has recorded an average GDP growth rate of 7. 3 percent per annum, ranking it second in the region after China. Its economy suffered from the 2008-09 economic crisis but recovered rapidly, with GDP growth rate of 6. 78 percent in 2010.ADB forecasts that the economy of Vietnam will increase by 6. 1 and 6. 7 percent in 2011 and 2012 respectively. Vietnam already became a lower middle income country with its GDP per capita of 1,204 USD in 2010. To a large extent, Vietnam has successfully transformed from a centrally-planned economy with heavy bureaucracy and subsidies to a socialist -oriented market economy characterized by strong dynamism and rapidly growing entrepreneurship. The country's economy has integrated deeply into the global and regional economies, bringing about a sharp rise in trad e volumes as well as an influx of foreign investment.The economy is well on the way to being a multi-sector model operating according to market mechanisms. The private sector has enjoyed very favourable conditions created by the Enterprise Law of 2000, which institutionalizes the freedom of all individuals to conduct business in areas not prohibited by law and removes a large number of administrative obstacles that hampered enterprises. With a view to raising the efficiency of the state -owned sector, the government has adopted assertive policy measures to reorganize the sector through equitization.As a result, more than 3,970 state-owned enterprises were equitized by the end of 2010. GDP of Vietnam, 2000-2010 120 9. 0 8. 0 7. 0 80 6. 0 5. 0 60 4. 0 40 3. 0 2. 0 20 1. 0 0 0. 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year GDP GDP growth rate Source: General Statistics Office 7 GDP growth rate (%) GDP (billion USD) 100 Progress in particular sectors As Vietnam's GDP con tinuously increases the country's economic structure has also seen notable changes. From 1990 to 2010 the share of the agriculture sector reduced from 38. 7 percent to 20. percent, while that of industry and construction increased from 22. 7 percent in 1990 to 41. 1 percent in 2010. The service sector remained relatively constant: 38. 6 percent in 1990 and 38. 3 percent in 2010. Agriculture still plays a critical role in Vietnam's socio-economic life since it generates about 57 percent of total employment and makes important contribution to the expansion of the country's foreign trade. Vietnam are among the leading countries in terms of agricultural exports such as rice, coffee, cashew nuts and aqua-products, etc.Industry continues to grow rapidly in terms of gross output, at an average rate of 10-15 percent per annum. Besides state enterprises, foreign-invested and the private enterprises play an increasingly important role in industrial development and exports. Services are growin g at an average rate of 7-8 percent. In 2010 the value added of service sector grew 7. 52 percent with good performances being recorded in the trade, finance, and hotels and restaurant sub-sectors as consumption and tourism remained buoyant. Industry and services continue to increase their sha re in the economy.This reflects market oriented reforms, a gradual reduction in barriers to competition and to private sector development, and improvements in physical infrastructure. Greater diversification in industrial production and services lays the foundation for further sustained growth in output and employment. VA growth rate by sector of Vietnam, 2000-2010 12. 0 10. 0 Percent 8. 0 6. 0 4. 0 2. 0 0. 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year Agriculture Industry Source: General Statistics Office 8 Service International economic integrationVietnam has made major steps forward in its commitments to regional and international economic integration. Following the introduc tion of Doi moi it signed an economic and trade cooperation agreement with the EU in 1995, joined ASEAN in 1995, adhered to CEPT/AFTA in 1996 and became an APEC member in 1998. The Bilateral Trade Agreement (BTA) with the United States was signed in 2000, which resulted in a dramatic increase in the trade volume between the two countries. Vietnam became the 150th member of the World Trade Organization on January 11, 2007.Vietnam's commitments in the WTO increase market access for exports of goods and services of WTO's members and establish greater transparency in regulatory trade practices as well as a more level playing field between Vietnamese and foreign companies. Vietnam undertook commitments on goods (tariffs, quotas and ceilings on agricultural subsidies) and services (provisions of access to foreign service providers and related conditions), and to implement agreements on intellectual property (TRIPS), investment measures (TRIMS), customs valuation, technical barriers to tra de, sanitary nd phytosanitary measures, import licensing provisions, anti-dumping and countervailing measures, and rules of origin. At present, Viet Nam has established diplomatic relations with 172 countries and signed 55 bilateral investment agreements and 58 double taxation agreements with countries and territories including Germany. It has economic and trading relations with about 165 countries and territories. Vietnam holds membership in 63 international organizations and over 650 non-governmental organizations.The policy of â€Å"multi-lateralization and diversification† in international relations has helped Vietnam to integrate more deeply into the global and regional economies and increase trade and investment ties with nations all over the world. More importantly, Vietnam has improved its enable business friendly environment over time. World Bank recognized that Vietnam is one of the 10 most-improved economies in ease of doing business in 2010. Currently, its ranking is 78 and even higher than other Asia countries such as Indonesia, Philippines, China, India. Vietnam’s rankings according to various indices Index 2011-2010 rank 2010-2009 rankWorld Bank’s Ease of doing business 78/183 88/183 World Economic Forum's Global competitiveness index 59/139 75/133 12/top 20 12/top 25 (*) ATKEARNEY' FDI confidence index Note (*) data for 2007 9 International trade Total export volume of Vietnam increased by 18 percent per year on average in the last decade and its import volume also did so by 19. 2 percent per year. In 2010 its total trade volume reached $155. 6 billion ($71. 6 billion of export and $84 billion of import), equal to 149 percent of its GDP. Both the composition and quality of exports have improved significantly. The proportion of industrial products has risen considerably.The five biggest export items include oil, textiles, footwear, seafood and wood products. Vietnam is in the early stage of the industrialisation and modernis ation process and receives a large inflow of FDI therefore it relies largely on the imp orted equipment and materials. Trade relations with foreign countries, especially other countries in the region, have expanded over time. The biggest trading partners of Viet Nam include China, America, ASEAN, EU, Japan and South Korea. International trade of Vietnam, 2000-2010 160 70 140 60 120 50 100 40 80 30 60 20 40 10 20 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010Year Export Import Trade in goods as % GDP Source: General Statistics Office 10 Trade in goods as % GDP (percent) 180 80 Trade (billion US$) 90 Top 10 export and import items of Vietnam, 2010 Garment Machinery & equipment Footwear Steel products Seafood Petroleum products Crude oil Fabric Electronic products Electronic products Furniture Vehicles Rice Platics Machinery & equipment Garment and shoe inputs Precious stone & metals Metals Rubber Animal feed 0. 0 5. 0 10. 0 15. 0 0. 0 5. 0 10. 0 15. 0 Import volume (billio n USD) Export volume (billion USD) Export item Import item Source: General Statistics OfficeForeign direct investment Since the introduction of the Law on Foreign Investment in 1987, by the end of 2010, 12,236 foreign investment projects were licensed with total registered capital of $193. 4 billion and total disbursed capital of over $61 billion. The investors from 92 countries and territories have committed investments in Viet Nam. Most of them are from Asia, Europe and America. Taiwan, Republic of Korea, Singapore, Japan and Malaysia and are the top five countries and territories investing in Vietnam. The next five countries and territories are British Virgin Islands, America, Hongkong, Cayman Islands and Thailand.These â€Å"top ten† countries and territories account for over three quarters of the total licensed projects and foreign registered capital in Viet Nam. Since 1996 there has been a tendency towards investment in producing goods for export, infrastructure constru ction, producing import substitutes and in labour intensive industries. There are more than 8,327 projects in the manufacturing and processing, real estate and construction industries with a total capital of about US$153,5 billion, accounting for nearly 80% of the registered capital.While there are foreign invested projects in all provinces and cities in Viet Nam, most investment has been in the key economic areas in the South including Ho Chi Minh City, Dong Nai, Binh Duong, Ba Ria, Vung Tau, and in the North including Hanoi, Hai Duong, Hai Phong and Quang Ninh. The foreign invested sector has increased rapidly, gradually asserting itself as a dynamic component of the economy, and has made an important contribution to enhancing the competitiveness and efficiency of the economy. In 20 10, the foreign invested sector has accounted for 21. 5% of the country's total investment, contributed 18. percent to GDP, 54. 2 percent to export volume (crude oil included), 44. 4 percent to industr ial gross output and employed 1. 6 million persons. 11 FDI Inflow of Vietnam, 2000-2010 Project number Registered capital Service, 10. 7% Telecom. & transportation 4. 1% Service, 19. 2% Processing & manufacturing 48. 7% Agriculture, 1. 6% Processing & manufacturing 59. 8% Agriculture 3. 9% Telecom. & transportation 7. 7% Real estate & construction 30. 8% Power, water, gas, 2. 5% Mining, 1. 5% Real estate & construction 8. 4% Power, water, gas, 0. 5% Mining, 0. 6% Source: Ministry of Planning and Investment FDI of Vietnam by sector, 2010 600 60 1400 1200 50 1000 40 800 30 600 20 400 10 200 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year Disbursement Total investment Note: Accumulated inflow of FDI by the end of 2010 Source: Ministry of Planning and Investment 12 No. of project 1800 70 FDI inflow (billion US$) 80 Top 10 destinations and investors of Vietnam, 2010 Top 10 FDI receiving provinces Top 10 investing countries and territories Ho Chi Minh City Chinese Taipei B a Ria – Vung Tau Korea Republic Ha Noi Singapore Dong Nai Japan Binh Duong Malaysia Ha Tinh British Virgin Islands Phu Yen America Thanh Hoa Hong Kong Hai Phong Cayman IslandsQuang Nam Thailand 0. 0 10. 0 20. 0 30. 0 Total registered investment (billion USD) 0. 0 5. 0 10. 0 15. 0 20. 0 25. 0 Total registered investment (billion USD) Note: Accumulated inflow of FDI by the end of 2010 Source: Ministry of Planning and Investment IV: INFRASTRUCTURE ? Road network: – ? 171,392 km country-wide. 2 North-South pivot routes: (i) the 1A National Highway of 2,260km in length from Lang Son to Ca Mau and (ii) the Ho Chi Minh Highway of 3,167km in length from Cao Bang to Ca Mau. Railway network: – ? Total length of 2,632 km. 278 stations country-wide. Hanoi – Ho Chi Minh City line: 1,726 km (it takes 29. hours for express train). – Linked to China railways in two directions, one from Lao Cai province to Yunnan province and one from Lang Son province to Kwangsi p rovince of China. – Planned to construct the railway lines connecting with Laos and Cambodia. Inland waterway: – More than 2,300 rivers and canals with total length of 198,000 km. – Inland waterway system of 35,386 km. 13 ? Sea ports: – – ? Vietnam has 3,260km coastline, a strategic position close to international shipping routes and favored natural conditions of foundation, sea depth, current, tidal, sedimentation and channels for developing seaport business. 7 national level sea ports, 23 provincial level sea ports and 9 offshore oil and gas sea ports. Current major important ports include Cai Lan and Hai Phong in the North, Da Nang and Quy Nhon in the Centre and Sai Gon and Cai Mep in the South. Airports: – ? 8 international airports: Cam Ranh (Nha Trang), Cat Bi (Hai Phong), Da Nang (Da Nang), Lien Khuong (Lam Dong), Noi Bai (Ha Noi), Phu Bai (Hue), Tra Noc (Can Tho), Tan Son Nhat (Ho Chi Minh City). In 2010, Tan Son Nhat Airport receive d 15. 5 million passergers and Noi Bai airport did 9. 5 million passengers. 14 domestic airports: Buon Ma Thuot (Dac Lac), Ca Mau (Ca Mau), Chu Lai (Quang Nam), Co Ong (Ba Ria – Vung Tau), Dien Bien Phu (Dien Bien Phu), Dong Tac (Phu Yen), Dong Hoi (Quang Binh), Gia Lam (Ha Noi), Na San (Son La), Pleiku (Gia Lai), Phu Cat (Binh Dinh), Phu Quoc (Kien Giang), Rach Gia (Kien Giang), Vinh (Nghe An). Business development zones: – ? 3 high-tech zones (Hoa Lac, Da Nang and Ho Chi Minh City) with total area of 3,509 ha of land. ? 260 industrial zones and export processing zones with total area of 71,394 ha of land. 15 economic zones located along sea coast with total area of 638,633 ha of land.Energy: – Electricity output reached 92. 7 billion kWh. – Crude oil and gas exploited 23 million ton. – Coal exploited 44 million ton. Telecommunication: – 26. 8 million Internet users. – 153. 7 million mobile subscriptions. – 16. 4 million fixed phone subscriptions. 14 15 Vietnam rail network 16 National seaports of Vietnam No. Seaport Province Current capacity of ship (DWT) 1 Cam Pha Quang Ninh 50,000 2 Hon Gai Quang Ninh 40,000 3 Hai Phong Hai Phong 20,000 4 Nghi Son Thanh Hoa 20,000 5 Cua Lo Nghe An 10,000 6 Vung Ang Ha Tinh 30,000 7 Chan May Thua Thien Hue 30,000 8 Da Nang Da Nang 30,000 9 Dung Quat Quang Ngai 0,000 10 Quy Nhon Binh Dinh 30,000 11 Van Phong Khanh Hoa 50,000 12 Nha Trang Khanh Hoa 20,000 13 Ba Ngoi Khanh Hoa 30,000 14 Ho Chi Minh City Ho Chi Minh City 30,000 15 Vung Tau Ba Ria – Vung Tau 50,000 16 Dong Nai Dong Nai 20,000 17 Can Tho Can Tho 10,000 Source: Decision 2190/QD-TTg dated 24/12/2009 17 Number and size of IPs and EPZs in Vietnam 300 71,394 70,000 60,000 40,000 150 26,971 260 100 183 11,830 50 50,000 43,687 200 300 1 2,370 12 30,000 20,000 130 10,000 65 0 1991 1995 2000 2005 2007 Year Number of IPs Size (ha) Source: Ministry of Planning and Investment 18 2010 Size of IPs (ha) Number of IP s 250Economic zones of Vietnam 19 SWOT Analysis of Vietnam Strengths Weaknesses ? One of fastest growing economies ? Few skilled professionals in Asia with average GDP growth of available; 7. 2% per year over the last decade; ? High bureaucratic barriers; ? Stable political and social security; ? Weak infrastructure (power, ? Abundance of human resources transportation); (labour force of 46. 2 million people; ? Underdeveloped supporting young, motivated and educated industries. workforce; 60% of population under 35 years old); ? Competitive business and production costs (cost labor, industrial land rent, energy cost, elephone cost, marine transportation, taxation); ? Available mineral and natural resources (coal, oil & gas, iron ore, bauxite, rare earth,.. ); ? Central location in South East Asia, long distance coast. Opportunities Threats ? Global integration (ASEAN, APEC, WTO membership); one of the world’s most open economies; ? High inflation; ? High trade deficit; ? Deva luation of VND; ? Higher demand for consumer goods and capital goods with better ? Banking and finance sector in infant stage; quality because of being a lower middle income country, aiming at ? Low national reserves. an industrialized country and ncreasing urban population; ? Export oriented and labour intensive industries; ? Infrastruture (road, railway, seaport, airport, power) projects funded by international donors or foreign investors. 20 V: VIETNAM- GERMANY ECONOMIC RELATIONSHIP Trade Germany is the biggest trade partner of Vietnam in Europe. In 2010, despite the global economic downturn, bilateral trade reached nearly USD 6 billion, a substantial increase over the previous year. Total export value of Vietnam to Germany reached nearly USD 4 billion, accounting for 19% of total Vietnam’s export to the EU while its import value from German amounted to USD 2 billion.Vietnam’s main export items to Germany are garments, footwear, coffees, furnitures, see foods, leath er and leather apparel, office machinery, iron, metal products, articles of plastics, ceramic products, crude rubber. Germany is the second-largest market worldwide for robusta coffee and black pepper of Vietnam. Main import items from Germany to Vietnam include: machines (in mining, construction and civil engineering, textile, food and beverage,†¦), aircraft, units for electricity generation nd distribution, passenger cars, chemical products, pharmaceutical products, measurement, control and regulation technology products, industrial plants, plastics, lifting and handling equipment, medical equipment and orthopedic appliances, engines, iron, metal products, elec tronic components†¦ After WTO accession, Vietnam is becoming an emerging and lucrative market in Asia. As Vietnam is accelerating its industrialization process to become an â€Å"industrialized country† by 2020, the trend towards sophisticated production facilities is evident and it is likely to result in i ncreased demand for hi -tech machinery made in Germany.Investment There have been over 230 German companies operating and investing in Vietnam, including many Germany’s leading groups such as Siemens, Deutsche Bank, Mercedes, Metro, Bosch etc. By the end of April 2011, German companies have invested in 163 projects with registered capital of USD 825 million in Vietnam. Three fourths of total investment projects and two thirds of investment capital of Germany mainly concentrate in manufacturing, processing, technique services, information and communication technology, banking and finance services.Although German investment projects have been located in 26 locatio ns in Vietnam, most of them have been implemented in Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai. In the upcoming time, the active implementation of mega infrastructure development and energy projects partially funded by German ODA such as the metro line No. 2 Ben Thanh – An Suong in Ho Chi Minh City (with length of 11 km and total investment capital of USD 1. 25 billion), O Mon IV thermo power, Phu Lac wind power, Vietnamese Green Line,†¦ will have positive impacts on promoting German investment flow into Vietnam.German foreign trade and investment promotion is well positioned in Viet Nam. German companies and investors can access to supports and advices from AHK Vietnam, German Business Association (GBA), a correspondent of Germany Trade and Invest (GTAI) in Vietnam. 21 Development cooperation Vietnam is an important partner of Germany in development cooperation. As one of the biggest donors among the EU members, Germany has provided Vietnam with more than EUR 1 billion in ODA since 1990. During 2011 – 2012, Germany committed nearly EUR 300 million for Vietnam. This is a clear evidence for strong support by Germany to the development of Vietnam.German-Vietnamese development cooperation focuses on the three priority areas: (i) Sustainable economic development and vocatio nal training; (ii) Environmental policy, conservation and sustainable use of natural resources; (iii) Health. German development cooperation has been utilizing effectively and contributing positively to socio-economic development of Vietnam, especially in vocational training, human resource development, infrastructure, clean energy source. During the visit of German Chancellor Dr. Angela Merkel to Viet Nam in October 2011, Hanoi Declaration was signed by Prime Minister Nguyen Tan Dung and Chancellor Dr.Angela Merkel. It is the start of the strategic partnership between Vietnam and Germany. Export and import between Vietnam and Germany, 2007-2010 4000 3500 Value (USD million) 3000 2500 2000 1500 1000 500 0 2007 2008 Export from Vietnam to Germany 2009 2010 Year Import to Vietnam from Germany Source: German Federal Statistical Office 22 Gernam investment flow into Vietnam by sector, 2010 Registered capital Service, 10. 5 Agriculture, Telecom. & 5. 4 transportation 0. 4 Real estate & c onstruction 1. 0 Project number Processing & manufacturing 53. 6 Processing & manufacturing 46. 7 Service, 34. 2 Agriculture 2. 0 Power, water & gas, 29. Telecom. & Mining, 0. 7 transportation Real estate & 10. 5 construction Power, water & gas, 2. 0 3. 9 Mining, 0. 0 Source: Ministry of Planning and Investment 23 LEGAL GUIDE FOR INVESTING AND DOING BUSINESS IN VIETNAM I: INVESTMENT REGULATIONS On 1 July 2006, the investment regime comprised of a unified Enterprise Law (â€Å"EL†), which regulates corporations, and a common Investment Law (â€Å" IL†), which regulates investment, came into effect. The promulgation of these two important legislations is considered a significant watershed for improvement of the legal environment on investment activities and corporate governance in Vietnam. . Overview To do business under the IL and EL, foreign investors are required to obtain investment certificates from an appropriate Licensing Authority. Under the IL, investors may inv est in all sectors not prohibited by law. prohibited by law include: Areas ? Investment projects detrimental to national defence, security, and the public interest; ? Investment projects detrimental to historical and cultural traditions and the ethics or customs of Vietnam; ? Investment projects harming people’s health or destroying natural resources and the environment; and ?Investment projects treating toxic waste imported to Vietnam and investment projects manufacturing toxic chemicals banned by international law. 2. Licensing Investors shall follow the licensing and registration steps depending on the size and the sector of the investment project. Investment Certification Process 24 Conditional sectors: Investment projects in conditional sectors shall satisfy certain conditions in order to be licensed. Conditional sectors include: ? Broadcasting and television; ? Production, publishing and distribution of cultural products; ?Exploration and exploitation of minerals; ? Est ablishment of infrastructure for telecommunications network, transmission and provision of internet and telecommunications services; ? Establishment of public postal network and provision of postal services and express services; ? Construction and operation of river ports, sea ports, terminals and airports; ? Transportation of goods and passengers by railway, airway, roadway and sea and inland waterways; ? Catching of aquaculture; ? Production of tobacco; ? Real estate business; ? Import, export and distribution business; Education and training; ? Hospitals and clinics; and ? Other investment sectors in international treaties of which Vietnam is a member and which restrict the opening of the market to foreign investors. Investment Registration: Foreign investment projects with a total invested capital of less than VND 300 billion (US$ 15 million) and not falling in a conditional sector are subject to â€Å"investment registration† and foreign investors of such projects shall carry out the procedures for investment registration in order to be granted an investment certificate.The investment certificate also serves as the business registration of the corporate entity. Enterprises can subsequently register additional investment projects without the need to create a separate entity. The investor should submit application documents for investment registration to the Licensing Authority. The Licensing Authority shall check the documents and issue the investment certificate to the investors within 15 workin g days of receiving the valid application.Investment Evaluation: Any investment project with a total invested capital of VND 300 billion (US$ 15 million) or more or investment projects falling in conditional sectors shall undergo â€Å"an investment evaluation† by the Licensing Authority and other relevant authorities. There are two different types of evaluation: ? evaluation for investment projects regardless of total invested capital falling into c onditional sectors; and ? evaluation for investment projects with total invested capital of VND300 billion or more that do not fall into conditional sectors.For the evaluation of investment projects with total invested capital of VND 300 billion or more, along with the application documents, the applicant must also submit an â€Å"economic – technical explanation† of the investment project to the Licensing Authority. This covers the economic – technical explanatory statement, 25 objectives, scale, location, investment capital, implementation schedule, land use needs, and technological and environmental solutions of the investment project.For the evaluation of investment projects falling in conditional sectors, in addition to the application documents, the investor shall also demonstrate compliance with requirements specific to that conditional sector. When assessing the application documents, the Licensing Authority may liaise with other relevant Ministries and authorities in evaluating the proposed investment project. Items to be evaluated shall comprise: ? compliance with master planning/zoning for technical infrastructure, master planning/zoning for land use, master planning for construction, master planning for utilization of minerals and other natural resources; land use requirements; ? project implementation schedule; ? environmental solutions. The time-limit for evaluation of investment shall not exceed thirty (30) days from the date of receipt of a complete and valid file. In necessary cases, the above time -limit may be extended, but not beyond forty five (45) days. Applying for Construction License Filing for Investment Certificate Applying for the approval of Report on environment effects evaluation Agreement on land/building/office renting Evaluating preliminary technical design Environmental protection ommitment Land/building/office renting contract 26 Projects subject to Projects subject to environmental protection constructi on license commitment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Investment Certificate Projects subject to Report on environmental effects evaluation To-Do List for Investors 3. Licensing Authority Licensing Authority 3. 1 The Board of Management (â€Å"BOM†) of industrial zones (â€Å"IZs†), export processing zones (â€Å"EPZs†), high-tech zones (â€Å"HTZs†), and economic zones (â€Å"EZs†) are responsible for licensing foreign investments within their zones. 3 . 2National important BOT projects and PPP projects are licensed by the Ministry of Planning and Investment (â€Å"MPI†). Oil and gas projects, credit institutions, insurance projects and law firms are licensed by Ministry of Trade and Industry, State Bank of Vietnam, Ministry of Finance and Ministry of Justice respectively. 3 . 3 The Provincial People’s Committee is the authority responsible for all other foreign investments. Licensing applications shall be su bmitted to these bodies, who will consult with other relevant governmental authorities (where so required) before issuing final approval. . 4 The Prime Minister will approve the following investment projects (unless they are not included in the approved master plan): (a) The following investment projects, irrespective of the source of investment capital and scale of investment: – construction and commercial operation of airports; air transportation; – construction and commercial operation of national sea ports; – exploration, mining and processing of petroleum; exploration and mining of minerals; – radio and television broadcasting; – commercial operation of casinos; – production of cigarettes; – stablishment of university training establishments; and 27 – establishment of IZs, EPZs, HTZs and EZs. (b) The following investment projects, irrespective of the source of investment capital but with a total invested capital of VND 1,5 00 billion or more in the following sectors: – business in electricity, processing of minerals, metallurgy; – construction of railway, road and internal waterway infrastructure; and – production and business of alcohol, beer; (c) The following projects with foreign-invested capital in the following sectors: – commercial operation of sea transportation; – onstruction of networks for and supply of postal and delivery, telecommunications and internet services, construction of wave transmission networks; – printing and distributing newspapers and printed matter, publishing; and – establishment of independent scientific research establishments. 4. Forms of Investment and Enterprise Under the â€Å"Law on Investment† and the â€Å"Law on Enterprises† foreign investors may choose the following forms of investment in Viet Nam: Investment forms: – Invest in business development; – Establish economic organizations (1 00% capital of foreign investors or joint venture); Purchase shares or contribute capital to participate in management of investment activities; – Invest in contractual forms of BBC, BO, BTO, BT, PPP; and – M of enterprises. While foreign investors are allowed to buy shares in many domestic companies without limitation, there are ownership limitations for certain companies listed on the Vietnam stock exchange and financial sectors. Foreign ownership cannot exceed 49 percent of listed companies and 30 percent of listed companies in the financial sector. Forms of enterprises: – Limited liability company (with one member or more than one member);