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Summary

16 INVESTMENT - INFRASTRUCTURE
34 BANKING - FINANCE
Many regulations on

affiliated transactions

remain unreasonable

REVIEWING INADEQUACIES IN SEAPORT
INFRASTRUCTURE, AND SENDING THE

FLEET TO THE HIGH SEAS

A fter seven years of implementing the Maritime Code 2015,
Vietnam’s seaport network has developed impressively,
attracting many large shipping companies in cargo
exceeded 700 million tons annually, with some years posting A common problem for businesses has been
handling. For many years, the throughput of goods at seaports
determining relationships based on loan capital at
double-digit growth. However, many shortcomings in Point d, Clause 2, Article 5 of Decree No. 132. This
implementing the Code have also been noted. Though potential includes cases where banks lend to businesses. Accordingly,
remains, Vietnam’s imports and exports are mainly handled by determining a bank as an affiliated party causes the
foreign fleets, which account for over 90 per cent, especially on enterprise to be considered affiliated with an “independent
long-distance sea routes such as to and from the Americas and party”, which is the bank, and is subject to a ceiling on loan
Europe. Maritime human resources are expected to be in serious interest expenses, causing a significant impact on business
shortage in the years to come, primarily due to the harsh and operations. It is therefore necessary to have solutions to
arduous working environment. strictly control and amend specialized regulations.

46 TRADE - MARKET
44 TRADE - MARKET

RICE EXPORTS TO SEE MORE Bilateral trade between Vietnam
and Cambodia has space to grow
GROWTH OPPORTUNITIES
IN 2024 ietnam remains Cambodia’s third-largest trading partner,
V after China and the US, and its largest trading partner in

ASEAN. Bilateral trade between the two countries still
I t has been forecast that rice exports will continue has a lot of space for development in the future due to a host
to be favorable in 2024 because the world is
of advantages. Specifically, the two countries have favorable
experiencing a 5-million-ton shortage and India is geographical locations and convenient transportation links.
expected to maintain its rice export restrictions into the The trade structure is largely complementary and not
new year. Meanwhile, some countries that traditionally competitive, while the legal framework for trade is continually
import Vietnamese rice, such as Indonesia and the being updated to suit the new situation, with many preferential
Philippines, will need to boost their imports. According conditions and regulations for the operations of businesses. To
to a scenario calculated by the Ministry of Agriculture continue promoting Vietnam - Cambodia trade so it develops
and Rural Development, each year Vietnam has about rapidly and sustainably and exploits the potential on offer, the
13-14 million tons of rice left over. Its agricultural Ministry of Industry and Trade has recommended that the two
industry is ready to cooperate with other countries to governments pay attention to appropriate investments in
sign MoUs on long-term rice supply. infrastructure in the shared border area.

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