VIETNAM: Government Prepares to Implement Free Trade Policies

On 23 September, the Vietnamese government announced it expects to lose nearly $77 million USD in annual tax revenue starting in 2016 as new trade agreements are implemented and import tariffs are lowered. With the potential for an influx of cheap, foreign goods into the economy, the government is proposing new anti-dumping and anti-subsidy laws to protect local industry. Should these laws not be passed, many local industries may find difficulty adjusting to the much larger, foreign competition.

[Drew Coughlin, drew.coughlin.ee@gmail.com]