In a socialist-oriented market economy, Vietnam’s state-owned enterprises do not conform to international best practice. Vietnam wants to achieve international best practice and is, therefore, revising its 2004 Competition Law. One main objective is to improve the legal and regulatory framework relating to the activities of Vietnam’s state-owned enterprises in conformity with the World Trade Organization and international trade agreements.

On April 20, USAID’s Governance for Inclusive Growth (GIG) Program and Vietnam’s National Assembly organized a consultation workshop for National Assembly deputies and other stakeholders to discuss technical issues and recommendations on key issues in the revised law. At this event, former Commissioner of the U.S. Federal Trade Commission Terry Calvani, an international expert on competition regulations, gave a presentation on international experience on the issues governed by the Law on Competition, helped review the final content of the draft law, and suggested best international policies and practices for regulating fair competition. The revised law is expected to be approved by the Nation Assembly in May 2018.

So what? Implementing policies conducive to fair competition is critical to promoting a robust economic environment and protecting the rights of consumers in Vietnam.