Developments and Implications of future FTAs for the Competition Law in Vietnam

The adoption of Vietnam Competition Law (VCL) in 2004 stemmed from the requirement of economic transition and international economic integration. However, it played the limited role after over a decade of implementation and the factors which negatively impacted on the enforcement of VCL included the lack of clear and comprehensive objectives due to the dilemma of economic liberalization and communist political ideology, the differences between VCL’s provisions and those of competition law in other countries, ASEAN and the EU.

Deriving from the development of international economic integration, there is a need for reform of Vietnam Competition Law in order to enhance its effectiveness and to meet Vietnam’s commitments in such FTAs. This paper will provide a critical analysis of Vietnamese Competition Law and try to draw the way forward for Vietnam Competition Policy and Law based on the lesson learnt from other competition regimes, such as US, EU Japan, Korea and Singapore as evidence of the determination of political leaders to improve competitiveness and attractiveness of their markets.

Reference: Nguyen, T.H. & Dadomo, C. Developments and Implications of future FTAs for the Competition Law in Vietnam. Symposium: Vietnam Commercial Law in Global Integration Context. Ho Chi Minh City University of Law(6 January 2016). https://uwe-repository.worktribe.com/output/918261/developments-and-implications-of-future-ftas-for-the-competition-law-in-vietnam

About authors: Ha Nguyen (LLB, LLM), a partner of Huy&Partners LLC., is interested in cross-border trade and investment, energy, infrastructure construction, competition and State-owned enterprises. He has participated in energy megastructure projects in Vietnam and other ASEAN countries (Nghi Son Refinery & Petrochemicals Plant, Song Hau 1 coal-fired power plant, petroleum production platforms in Vietnam offshore, Petronas RAPID project, Southern Johor, Malaysia) and airport projects in Vietnam (T3 Terminal – Tan Son Nhat Airport, Long Thanh international airport (phase 1)). He has also published a few articles on Vietnam oil and gas sector, renewable energy, State-owned enterprises privitisation and competition.