Kinh tế quốc tế

1. Nền kinh tế thế giới: Nội dung, bối cảnh mới, những xu thế vận động chủ yếu. Liên hệ

Khái niệm: The global economy is a system of national economies, organizations, international
economic links, and multinational companies that are interconnected and influence each other
through the process of international labor division, along with their international economic
relations. It represents the specialization of countries that have absolute and comparative
advantages in that particular work
Nội dung:

International Economics Entities in the Economy

The entities in international economics within the economy represent the economy itself and are
where international economic relations originate. There are three economic entities at different
levels:

Economies of independent countries worldwide: The relations between these entities are
guaranteed by international agreements signed under international public law terms.

Economic entities at a lower level than national scope (enterprises, businesses, factories): These
entities participate in international economic agreements based on trade contracts or investment
agreements between parties within the framework of agreements signed between countries'
entities.

Economic entities at a higher level than national scope (international organizations, such as the
United Nations, IMF, World Bank, etc.): Note: The WTO is not an international economic entity
because it does not participate in or generate economic relations.

International Economic Relations: These are the core part of the economy, the inevitable result
of the interactions between international economic entities.

International trade of goods and services (international trade): This involves the buying and
selling of goods and services (either tangible or intangible) between countries.

International capital movement relations (international investment): This refers to the transfer of
capital from one country to another to carry out investment activities (direct or indirect).

International labor movement relations (international labor migration): This involves the export
and import of labor to adjust the supply and demand for labor between countries.

International monetary movement relations (international finance and payments): This involves
the movement of cash, precious metals, and financial instruments such as stocks and bonds
between countries to facilitate monetary circulation, credit activities, payments, and investments.

New Context:
The global economy is entering the third millennium with changes in the growth rate, structural
shifts, and especially the dynamism in international economic relations.

The growth rate of the global economy is not uniform across countries, regions, groups of
nations, or periods. International trade continues to increase, reflecting the trend of trade
liberalization in globalizing the world economy. However, the uneven increase in trade between
countries will lead to trade surpluses and deficits in some countries. International investment
worldwide continues to rise: significant changes in the structure of investors, investment sectors,
as well as the multilateral and multidimensional nature of international investment activities. The
global financial market is developing. Alongside economic development, social issues and
environmental problems continue to intensify: unemployment, poverty, disease, etc. In
international economic activities, competition is becoming more intense, while international
cooperation is expanding and becoming more diverse, at different levels, wider, and deeper. New
economic centers and emerging economic powers are being formed and developed. In recent
years, wars and instability in countries (Syria, the Middle East) have frequently led to armed
conflicts.

The economy is transitioning from the old order to a new order: Three major economic alliances
dominate international economic relations (EU, NAFTA, APEC). Newly emerging economies
(China, India, Brazil). Formation of a new world order: regional economic alliances, large
economic centers showing their international roles in shaping international economic relations,
and greater wealth inequality.

Main Trends:

a. Globalization Trend

Globalization is a process of strengthening international economic relations on a global scale,

characterized by the expansion and intensification of interdependence among the economies of
different nations → leading to the formation of a global economy.

Factors affecting globalization include the development of information and communication

systems, telecommunications, and transportation → changes in the concepts of space and time.
The significant increase in international competition. The emergence of global issues that require
the cooperation of many countries to resolve, such as environmental pollution, diseases, debt,
security, etc. The end of the Cold War, reduction of hostilities, and increased cooperation. Issues
related to war and peace, regional conflicts. Global trade is increasingly on the rise.

The impact of globalization on the global economy includes adjusting international economic
relations, increasing the volume and intensity of participation in international economic
activities. Politically, it alters the balance of political forces in the global economy, giving rise to
new social classes, corporations, and social forces within the global economy. Culturally and
socially, it brings about cultural waves, global lifestyles, and changes in social perceptions.

Impact on Vietnam:

Vietnam needs to proactively integrate into the global economy with appropriate strategies.
Vietnam must adjust its economic structure and mechanisms to align with globalization trends.
This involves transitioning to a market-based economy, promoting industrialization and services,
and creating equality between different economic sectors.

b. The Explosion of the Science and Technology Revolution

Characteristics:

The volume of knowledge and information of mankind is continuously increasing, leading

humanity into a new civilization, which is an intellectual civilization or the third civilization. The
issue that arises is that countries need an environment to absorb science and technology and
apply them in real life. With science and technology, there is fierce competition. It is necessary to
minimize or reduce the time from research to mass production application. The leaders in the
science and technology revolution are usually a group of scientists, and many young scientists
have emerged. The application scope of scientific and technological achievements is quite wide.

Impact of the science and technology revolution on the world:

It changes the material foundation of the global economy, shifting human society to a new
qualitative state. It increases labor productivity, increases the amount of wealth produced, and
uses scarce resources more efficiently. It increases the level of international competition. It leads
to a new development resource: science and technology and the skilled people who use it.

Impact on Vietnam:

The economic structure has changed: the service sector, especially those involving advanced
technologies, is growing rapidly, such as IT, telecommunications services like phone and
internet. The labor structure has also changed, with intellectual labor increasingly replacing
manual labor. Vietnam needs policies to attract modern technology, especially core technology. It
should focus on training a team of scientific and technological personnel, high-quality managers,
and skilled workers. There should be adjustments to the export-import product structure
(particularly focusing on high-quality products and services to meet global demand). At the same
time, it is important to promote the creativity of enterprises and individuals.

c. Development of the Asia-Pacific Rim:

Characteristics:

It includes countries with developed and dynamic economies, with some of the earliest and most
flourishing civilizations. The total population accounts for one-third of the world's population,
but it represents 50% of the world’s GDP. There is a harmonious combination of Eastern
philosophy and Western market economic thought.

Impact on Vietnam:

Being in this region, Vietnam has traditional trade relations in the region and opportunities to
expand markets and enhance cooperation in many fields. This promotes competitiveness.
Vietnam’s development level is still low, and without enhancing competitiveness, the country
will not keep up. Vietnam must comply with international conditions, laws, and regulations. This
will create a driving force for economic growth.

d. Transition from Confrontation to Dialogue, from Isolation to Cooperation with a

Priority on Economic Development:

During the Cold War period, the world was divided into two distinct blocs, always in conflict
with each other (Socialism and Capitalism). However, today, most countries in the world have
relations with other countries with the priority of development.

In response to this trend, the Vietnamese government has adopted the policy: Vietnam wants to
be friends with all countries in the world.

Câu 2.Lý thuyết thương mại quốc tế: chủ nghĩa trọng thương, lợi thế tuyệt đối, lợi thế so sánh
của David Ricardo, lợi thế so sánh của H-O.

1) Mercantilism

Advantages:

Fosters National Wealth: Mercantilism emphasizes accumulating wealth through a positive

trade balance (exports exceeding imports), which can lead to increased national wealth.​
Encourages Protectionism: Mercantilist policies often protect domestic industries, which can
promote economic growth and employment within a country.​
Promotes Colonial Expansion: Mercantilist countries often seek to acquire colonies to control
resources and create a favorable trade balance.

Disadvantages:

Restricts Free Trade: Mercantilism leads to high tariffs, trade barriers, and monopolies, which
can reduce the efficiency of global markets and limit the variety of goods available to consumers.​
Zero-Sum Game: The theory operates on the premise of a "zero-sum game," where one
country's gain is another's loss. This can create international tensions and conflicts.​
Limits Consumer Choice and Efficiency: Domestic markets may be less efficient due to a lack
of competition from foreign goods, leading to higher prices for consumers.

2) Absolute Advantage (Adam Smith)

Advantages:

Efficiency Gains: If each country specializes in producing goods in which it has an absolute
advantage, it can lead to more efficient production and higher overall output.​
Global Specialization: Encourages the specialization of countries in sectors where they have a
competitive edge, which can drive overall economic growth.​
Increase in Wealth: Specialization and trade can allow all countries to benefit, leading to higher
total wealth in the global economy.​
Disadvantages:

Limited Application: The concept of absolute advantage does not apply when countries do not
have a clear absolute advantage in any particular good.​
Ignores Opportunity Cost: It overlooks the importance of opportunity cost in resource
allocation, which is crucial in making trade decisions.​
Not Ideal for Less Developed Countries: Countries with less advanced technologies may not
have an absolute advantage in anything, limiting the applicability of this theory.

3) Comparative Advantage (David Ricardo)

Advantages:

Increased Global Welfare: Comparative advantage demonstrates that even if a country does not
have an absolute advantage in any good, it can still benefit from trade by specializing in the
goods where it has the lowest opportunity cost.​
Specialization and Efficiency: By focusing on what each country does best relative to others,
the theory encourages specialization and leads to more efficient resource allocation.​
Beneficial for All Nations: This theory suggests that all countries can benefit from trade, as long
as they specialize according to their comparative advantage.​

Disadvantages:

Assumes Constant Opportunity Costs: The theory assumes constant opportunity costs, which
may not hold true in real-world scenarios, especially when production capacities change.​
Simplistic Assumptions: The model assumes two countries and two goods, ignoring the
complexities of modern economies with multiple goods, services, and trading partners.​
Does Not Account for Transport Costs: Comparative advantage assumes that trade is cost-free,
ignoring transportation costs, tariffs, and other trade barriers that can reduce the benefits of trade.

4) Comparative Advantage Based on Opportunity Cost (Heckscher-Ohlin,

Harberler)

Advantages:

Incorporates Resource Endowments: This theory refines the concept of comparative

advantage by incorporating a country’s factor endowments (labor, capital, land) into trade
models. It better reflects the global economic reality where countries may specialize based on
available resources.​
More Realistic Model: The inclusion of opportunity cost and resource allocation makes it a
more realistic model of trade for multiple countries and industries, especially in today's diverse
economies.​
Can Explain Factor Price Equalization: This theory helps explain how international trade can
lead to the equalization of factor prices (wages, returns on capital) between countries over time.​
Disadvantages:

Assumes Perfect Mobility of Factors Within Countries: The theory assumes that factors of
production can move freely within a country, but in reality, labor and capital are often immobile.​
Ignores Technological Differences: The theory does not adequately address differences in
technology, which can be a significant driver of comparative advantage.​
Over-Simplified in Practice: In real-world economies, factors like government policies,
institutional barriers, and market imperfections can distort trade flows, making this model too
idealistic in many cases.

Application of International Trade Theories:

Purpose of Application:​
To adjust the trade policies of countries (specifically using tariffs to regulate the flow of imports
and exports).​
To adjust the human resource policies for countries.​

1.​ General Evaluation of the Theories:​

Successes:​
These theories provide different explanations about the origins and causes of international
trade.​
They all calculate the benefits that countries can gain from international trade.​

●​ Limitations:​
These theories focus only on the supply side and do not address the demand side of trade.​
They do not fully account for services (intangible goods), marketing factors, or
management proficiency. Moreover, the explanations provided only cover partial aspects
of international trade and fail to offer a comprehensive explanation.​

2.​ Application of These Theories to Explain International Trade in Vietnam:​

Absolute Advantage Theory:​
Vietnam has identified its advantage in agricultural production and in the production of
labor-intensive goods. Initially, Vietnam focused on exporting agricultural products and
unprocessed raw goods. Later, Vietnam expanded exports to include labor-intensive
products like textiles, garments, and footwear.​
Comparative Advantage Theory:​
According to the theory, Vietnam exports products in which it holds a comparative
advantage and focuses on items with the least disadvantages based on the concept of
comparative advantage. Vietnam has emphasized the export of agricultural products and
consumer goods, while also focusing on other items as part of its international trade
strategy.​
Heckscher-Ohlin Theory:​
In the past, Vietnam mainly exported raw goods with a high labor content, such as coal,
coffee, crude oil, and garments. These are goods where Vietnam has an advantage due to
abundant raw materials and a large supply of low-cost labor. However, Vietnam is now
actively seeking to attract foreign capital, technology, and management expertise to shift
 exports towards higher value-added goods. This is aimed at increasing export turnover
and reducing the export of raw materials, allowing for more efficient use of resources and
sustainable economic development.

Heckscher-Ohlin Theory:

Assumptions:

Two countries, two goods: The theory assumes two countries, two goods, and two factors of
production (typically labor and capital).​
Factor mobility within countries: Factors of production (labor and capital) are mobile within a
country but immobile across countries.​
Different factor endowments: The two countries have different endowments of factors of
production (such as labor, capital, and land), leading to comparative advantages in different
goods.​
Identical technologies: Both countries use the same production technologies for producing the
goods. Therefore, the differences in production arise from the different factor endowments, not
technological differences.​
Constant returns to scale: The production function exhibits constant returns to scale, meaning
that doubling the input will double the output.

Factor Intensity: refers to the relative amount of capital and labor used in the production of
different goods. Some goods are labor-intensive (requiring more labor than capital), while others
are capital-intensive (requiring more capital than labor). In the Heckscher-Ohlin model, each
good has a specific factor intensity, and countries will export the goods that intensively use the
factors they have in abundance.

Factor Abundance: refers to the relative abundance or scarcity of factors of production in a

country. A country that has an abundance of capital relative to labor is considered
capital-abundant, and a country that has an abundance of labor relative to capital is considered
labor-abundant.

According to the Heckscher-Ohlin theory:

A capital-abundant country will have a comparative advantage in producing and exporting

capital-intensive goods.​
A labor-abundant country will have a comparative advantage in producing and exporting
labor-intensive goods.

Basic of Comparative Advantage:

The Heckscher-Ohlin theory suggests that a country will have a comparative advantage in
producing goods that use its abundant factors of production more intensively. For example, if a
country is labor-abundant, it will have a comparative advantage in producing and exporting
goods that require a high amount of labor (labor-intensive goods).​
The theory extends the classical concept of comparative advantage (first proposed by David
Ricardo) by incorporating the idea of factor endowments, which means that countries' relative
factor endowments, rather than absolute productivity differences, determine their comparative
advantage.

Effect of International Trade on the Earnings of Factors of Production:

The Heckscher-Ohlin theory predicts that international trade will affect the distribution of
income within countries.​
In capital-abundant countries: When a capital-abundant country exports capital-intensive
goods, the demand for capital will increase, raising the return to capital (wages for capital
owners). On the other hand, the demand for labor will decrease, reducing wages for workers.​
In labor-abundant countries: When a labor-abundant country exports labor-intensive goods,
the demand for labor will rise, increasing wages for workers. At the same time, the demand for
capital will decrease, reducing returns to capital.​
This leads to what is known as the Stolper-Samuelson theorem, which states that trade benefits
the factor of production that is abundant in the country and harms the factor that is scarce. For
example:​
In a labor-abundant country, trade benefits workers (who are the abundant factor), but harms
capital owners (the scarce factor). In a capital-abundant country, trade benefits capital owners but
harms workers.

This theory emphasizes that international trade does not only affect the production structure of
countries, but also has significant impacts on the income distribution among different factors of
production within each country.

Câu 3: Các công cụ chủ yếu của chính sách thương mại quốc tế: thuế quan, hạn ngạch, các
quy định về tiêu chuẩn kỹ thuật, hỗ trợ xuất khẩu. Liên hệ: việc áp dụng các công cụ này
trong chính sách ngoại thương Việt Nam

International Trade:

●​ Definition: International trade refers to the exchange of goods and services between
countries based on voluntary agreements, with money as the intermediary, bringing
benefits to all participating parties – a win-win scenario.​

●​ Content:​
Export and import of tangible goods​
Export and import of intangible goods​
Re-export and transshipment​
Outsourcing and contract manufacturing for foreign countries​
On-site exports (such as hosting tourists, international conferences, etc.)​

International Trade Policy:

Definition: International trade policy is a system of principles, views, tools, and measures that a
government uses to regulate the foreign trade activities of a country, in line with the nation's
economic and social development strategy for a certain period.​
Functions: It regulates the foreign trade activities of a country in alignment with its economic
and social development strategy over a certain period. It aims to achieve two main objectives:​
- To create favorable conditions for domestic businesses to enter and expand foreign markets,
actively participate in international labor division and international trade, and fully exploit the
comparative advantages of the national economy.​
- To protect the domestic market, create favorable conditions for domestic businesses to stand
firm and thrive in international business activities, and enhance national interests.​

Tools of International Trade Policy: 6 Main Tools

a) Tariffs (see below) Definition: Tariffs are amounts that exporters, importers, or transit
operators must pay to the government authority for goods being imported, exported, or
transshipped.​
Classification:​
By object: 3 types: Export tariff, import tariff, and transit tariff (which usually constitutes a
small percentage).​
By purpose: 3 types: Financial (to increase government revenue), Protectionist (to protect
domestic industries), and Punitive (to penalize or discourage imports).

International Trade Policy is a set of policies, tools, and appropriate measures used by the state to
regulate the international trade activities of a nation over a specific period to achieve the goals
outlined in its economic and social development strategy. To implement the objectives of a
country’s international trade policy, the main tools used are tariff and non-tariff instruments.

1. Tariff Instruments: Tariffs are a type of tax imposed on each unit of goods exported or
imported by each country. Tariffs include: Export tariffs and import tariffs.

1.1 Export Tariffs: are taxes imposed on each unit of goods exported from a country.​
Currently, export tariffs are rarely applied by most countries, as fierce competition in
international markets means that governments generally aim to facilitate competition and market
expansion. However, taxes are imposed on some goods with high export value or those affecting
national security.

Impact of Export Tariffs:

Positive Impacts: Export tariffs increase state revenue. They help limit excessive exports of
natural resource-based products, preventing ecological imbalances, environmental pollution, and
national food security issues, thus protecting national interests.​
Negative Impacts: Export tariffs disadvantage a country’s export potential, as the tax makes
goods more expensive than domestic market prices, reducing export volume, especially for
smaller countries. Export tariffs reduce export production, which can lead to downsizing in
production levels and increasing unemployment, negatively affecting the socio-economic
situation. High and prolonged export tariffs may benefit competing countries by offering price
advantages.
1.2 Import Tariffs

Import tariffs are taxes imposed on each unit of imported goods.

Impacts of Import Tariffs:

Positive Impacts:Import tariffs provide domestic producers with the opportunity to expand
production as the supply of imported goods decreases, leading to job creation and improved
social welfare.​
Import tariffs increase government revenue.​
Import tariffs help protect and nurture nascent industries, giving them time to grow and become
competitive on the international market.​
Import tariffs can regulate the flow of goods from foreign markets into the domestic market.​
Import tariffs influence income distribution among different social classes: from domestic
consumers to domestic producers and the government. The government can use this revenue to
fund social welfare programs, improving the quality of life for the poor.​
Negative Impacts:​
Import tariffs raise the price of domestic goods, making them more expensive than imported
goods. This burden is ultimately borne by domestic consumers, which reduces their demand for
imported goods, limiting imports and harming consumer welfare.​
Import tariffs can encourage inefficient domestic production, which harms producers and
negatively impacts the country's economic and social development.​
Over time, import tariffs may lead to smuggling and tax evasion, creating inefficient domestic
production and adversely affecting social welfare.

In addition to export and import tariffs, there are other specific types of tariffs:

Tariff Quotas: This is a measure to manage imports and exports with two levels of tariff rates.
Goods within the quota are taxed at a lower rate, while goods outside the quota are taxed at a
higher rate.​
Countervailing Duties: These are taxes imposed on imported goods to counteract subsidies
provided by the exporting country's government to its producers.​
Anti-Dumping Duties: These are special tariffs imposed to prevent or counteract the
importation of goods sold below their market value, which can result in unfair competition in the
domestic market.

Other types of tariffs include: Most-Favored-Nation (MFN) tariffs, non-MFN tariffs, seasonal
tariffs, etc. Since joining the WTO, Vietnam applies MFN tariffs to member countries, with an
average rate of 13.4% (excluding countries with which Vietnam has bilateral or regional free
trade agreements).

In the export tariff schedule for 2017, issued with Decree No. 122/2016/ND-CP dated September
1, 2016, which regulates export and preferential import tariffs, the list of goods, and absolute
tariffs, mixed tariffs, and tariffs on imports outside tariff quotas, most of Vietnam's export goods
have a 0% tariff. However, certain goods derived from natural resources are subject to export
tariffs, such as: Gypsum: 10%, Fireclay: 10%, Marble (rough or uncut): 17%, Iron ore (both
unprocessed and processed): 40%.
2. Non-Tariff Measures

2.1 Quotas​
A quota refers to the restriction on the quantity of a certain good that can be exported or
imported through a licensing system. A quota is a government-imposed regulation on the
maximum quantity of a specific good or group of goods allowed for export or import to a
particular country or region during a specific period, typically one year.

Classification: There are export quotas and import quotas.

Export quotas define the maximum amount of goods that can be exported within a given
timeframe.​
Import quotas define the maximum amount of goods allowed to be imported into a specific
market within one year.

Export quotas are less commonly used, while import quotas are more widespread, often applied
to certain goods whose importation harms the domestic economy.

General Impacts of Quotas:

Governments can tightly control the amount of goods imported or exported.​

The government does not receive revenue like taxes unless it auctions the quota.​
Quotas can lead to monopolies, creating negative incentives to secure quota rights.​
Management of quotas can be costly and lead to unfair competition between businesses.​

Impact of Export Quotas:

For Exporting Countries:​

Export quotas reduce the amount of goods exported, leading to a decrease in production and
increasing unemployment. This can negatively affect social and economic welfare.​
Export quotas lower government revenue from exports.​
Export quotas can be used to ensure a stable supply of goods for the domestic market.

For Consumers: Export quotas can limit the supply of goods in the domestic market, potentially
lowering prices and increasing consumer choices.​
For Importing Countries: Export quotas from the exporting country limit the amount of goods
entering the importing country. This helps local producers expand production, create jobs, and
increase incomes.​
For Consumers: Import quotas reduce the availability of imported goods, thus limiting
consumer choice and increasing prices for imported products.

Impact of Import Quotas for Importing Countries: Import quotas raise the price of imported
goods, providing an opportunity for domestic producers to expand production and create jobs.​
Import quotas help protect nascent industries that are not yet competitive on the international
market.​
Import quotas reduce the amount of imported goods, decreasing domestic consumption, limiting
consumer benefits, and reducing societal welfare due to fewer choices and higher prices.​

Impact for Exporting Countries:The production volume in exporting countries decreases due
to the restrictions on exports. This leads to reduced production, higher unemployment, and lower
wages for workers.​
The availability of goods subject to quotas increases, offering consumers more choices and
potentially lowering prices.​

Before becoming a WTO member, Vietnam applied import quotas on various products like
trucks, passenger cars, motorcycles, steel, cement, sugar, and others in 1997. However, since
1999, most of these products no longer face import quotas and instead follow other forms of
regulation such as import permits. Since joining the WTO, Vietnam complies with WTO rules
and no longer uses import quotas. Instead, Vietnam applies tariff quotas (a tool allowed by the
WTO).

2.2 Technical Standards​

Technical standards refer to regulations on product quality, food safety, hygiene, labor safety,
packaging, and environmental protection, as well as setting a certain percentage of domestic
content in the production of certain goods.

These standards are designed to protect consumer interests and reflect the level of development
of human civilization. From an economic perspective, technical standards protect the domestic
market, often distorting international trade flows.

Countries may use their own technical standards to limit imports, particularly developed nations
that may impose stricter regulations. International standards, such as those from the International
Organization for Standardization (ISO), encourage countries to harmonize technical standards.
Some key ISO standards include:

●​ ISO 9001: Management systems.​

●​ ISO 14000: Environmental standards.

Vietnam has adopted ISO standards, and the WTO encourages member countries to use these
standards to harmonize technical regulations.

2.3 Voluntary Export Restraints (VERs)​

Voluntary Export Restraints are agreements where importing countries demand that exporting
countries limit their exports voluntarily to avoid retaliatory actions. Essentially, it is a negotiation
between countries to limit imports from one country to protect the domestic economy.

In the 1980s, the United States negotiated with Japan and the European Union, requesting them
to voluntarily reduce their exports of automobiles, steel, and high-tech electronics to the U.S.
2.4 Export Subsidies​
Export subsidies are direct financial assistance or low-interest loans granted to domestic
exporters or to foreign buyers to encourage the purchase of domestic products.

Export subsidies increase export volumes by reducing the supply in the domestic market, which
negatively impacts domestic consumers. Subsidies raise social costs due to the inefficiency of
producing more export products.

When Vietnam joined the WTO, it committed to eliminating export subsidies and import
substitution subsidies, as required by WTO regulations. However, Vietnam can still apply
specific agricultural export subsidies under special and differential treatment provisions for
developing countries. These subsidies include:

1.​ Subsidies to reduce marketing costs, including handling, upgrading, recycling products,
and international transportation costs.​

2.​ Subsidies for domestic and international shipping costs for exported goods.

Comparison between Import Tariff and Import Quota

Criteria Import Tariff Import Quota

Definition A tax on imported goods A limit on the quantity of a good that can
be imported.

Mechanis Increases the price of imported Restricts the quantity of a good that can
m goods. be imported.

Revenue Generates revenue for the Does not generate revenue directly
Generation government. (unless the quota is auctioned).

Impact on Increases the price of imports, but Directly limits the quantity of goods that
Imports does not limit the quantity directly. can be imported.

Market Can increase prices, but the Leads to a reduced supply of the imported
Effect quantity can still rise depending on goods, which can increase domestic
demand elasticity. prices.

Flexibility More goods can be imported as No flexibility once the quota is filled;
long as consumers are willing to imports are stopped
pay the higher price.

Impact on Domestic producers benefit from Domestic producers benefit from reduced
Domestic reduced competition due to higher competition, but may face price increases
Producers import prices. due to supply restrictions.
Comparison between Voluntary Export Restraints (VERs) and Import Quotas / Import
Tariffs
Criteria Voluntary Export Import Quota Import Tariff
Restraints (VERs)

Definition An agreement between A restriction on the A tax levied on

countries requiring the quantity of goods each unit of
exporting country to imported into a country. imported goods.
voluntarily limit exports.

Mechanism of Exports are limited from Limits the amount of Increases the price
Action the exporting country’s goods imported from of imported goods.
side. another country.

Revenue for the No, as there is no tax or No revenue is generated Yes, the
Government fee involved. unless the quota is government
auctioned. collects taxes on
imported goods.

Effect on Import Reduces the import Directly limits the Does not directly
Quantity quantity, but from the import quantity from limit import
exporting country’s side. another country. quantity.

Effect on Prices Can increase domestic Depends on the level of Increases the price
prices due to reduced restriction, may of imported goods.
supply of goods. increase prices if
demand exceeds supply.

Effect on Benefits domestic Benefits domestic Benefits domestic

Domestic producers as competition producers as imports producers as import
Producers decreases. are restricted. prices rise.

Example Japan voluntarily limited Import quota on steel Import tariff on

automobile exports to the into the U.S. plastic products in
U.S. in the 1980s. the European
Union.

Câu 4: Hai xu hướng cơ bản trong chính sách thương mại quốc tế: tự do hoá thương mại và bảo
hộ thương mại (cơ sở, nội dung, biện pháp, tác động). Liên hệ: biểu hiện của 2 xu hướng trong
chính sách ngoại thương Việt Nam
Phân biệt hai xu hướng cơ bản của chính sách thương mại quốc tế là tự do hóa và bảo hộ mậu
dịch:

Content Liberalization Trade Protection

 Definition The relaxation or softening of The increase in government or state
government or state intervention in intervention in international trade.
international trade.

Policy The process of globalization and The disparity in potential and economic
Basis international economic integration. development levels between countries.
Weaker countries often adopt protective
measures.

Content The government applies necessary The government applies necessary

measures to gradually reduce tariff measures to increase trade barriers,
and non-tariff barriers in international making imports more difficult.
trade.

Purpose To create favorable conditions for the To protect the domestic market from the
development of international trade increasing influx of foreign goods,
both in breadth and depth. safeguarding national interests.

Measures Measures aimed at relaxing imports Measures aimed at making exports more
based on bilateral and multilateral difficult, such as:
agreements, such as: + Quotas and voluntary export
+ Gradually reducing import tariffs. restraints.
+ Increasing and gradually + Using technical standards.
eliminating quotas. + Imposing high import tariffs on
certain goods.
The argument for and against trade protectionism and trade liberalization? The
relationship between trade protectionism and trade liberalization. The pivotal trend
in trade policy today
Arguments for Trade Protectionism:

Protecting Domestic Industries: Trade protectionism helps safeguard fledgling or struggling

domestic industries from foreign competition. By imposing tariffs and quotas on imports, a
country can provide these industries with a “shield” to grow and become competitive
internationally.​
Protecting Jobs: Protectionist policies can help maintain jobs in domestic industries by reducing
competition from foreign goods. This is particularly relevant in sectors where labor is intensive,
and cheaper foreign labor could displace local workers.​
National Security: Some industries, such as defense, energy, and food production, are seen as
vital to a country's national security. Protecting these sectors from foreign control ensures a
nation can maintain self-sufficiency during times of crisis or war.​
Preventing Dumping: Protectionism helps prevent the "dumping" of goods by foreign countries,
where products are sold at prices lower than production costs to undercut domestic markets.
Tariffs and anti-dumping laws can prevent such practices, protecting local businesses from unfair
competition.​
Balancing Trade Deficits: By imposing tariffs or quotas on imports, a country can reduce its
trade deficit. This makes it harder for foreign products to enter, encouraging consumers to buy
domestically produced goods.​

Arguments Against Trade Protectionism:

Higher Prices for Consumers: Trade protectionism typically leads to higher prices for goods
because tariffs and quotas on imports reduce competition. This results in fewer choices for
consumers and often higher prices for the products they want to buy.​
Inefficiency and Lack of Innovation: Protected industries may become complacent and
inefficient because they are shielded from competition. Without the pressure to innovate or
improve, industries can stagnate, which harms overall economic productivity in the long term.​
Retaliation and Trade Wars: Countries that face protectionist measures may retaliate by
imposing their own tariffs or quotas, leading to trade wars. This escalation harms all involved
economies and can result in long-term damage to international trade relationships.​
Distorted Global Resource Allocation: Trade protectionism distorts the global allocation of
resources. Countries are not able to specialize in industries where they have a comparative
advantage, leading to inefficiencies in production and allocation of resources.​
Harming Developing Countries: Protectionism can have a particularly negative impact on
developing countries that rely on exporting goods to developed nations. By imposing barriers to
imports, these countries find it harder to access international markets and grow their economies.​

Arguments for Trade Liberalization:

Increased Economic Growth: Trade liberalization encourages competition, which drives down
prices, improves quality, and leads to increased innovation. When countries reduce trade barriers,
they open new markets for domestic firms, which can lead to faster economic growth.​
Consumer Benefits: Lower tariffs and the reduction of trade barriers increase the availability of
goods, offering consumers a wider range of products at lower prices. This improves their
standard of living and gives them more choices.​
Efficient Resource Allocation: By reducing trade barriers, countries are able to specialize in
industries where they have a comparative advantage, leading to more efficient use of resources
and greater overall global economic welfare.​
Promotion of Global Cooperation: Trade liberalization fosters international cooperation and
peace by creating economic interdependence. Countries that trade are less likely to go to war and
more likely to cooperate on shared issues such as climate change, terrorism, and regional
stability.​
Access to Technology and Knowledge: Trade liberalization provides access to foreign
technology, knowledge, and innovations that might otherwise be unavailable. This is especially
important for developing countries, as it helps them improve their industrial base and raise their
living standards.​

Arguments Against Trade Liberalization:

Domestic Industry and Job Losses: As trade barriers are removed, domestic companies may face
increased competition from foreign firms. This can lead to job losses in industries that are not
competitive internationally, particularly in manufacturing and agriculture.​
Undermining National Sovereignty: Some argue that trade liberalization, particularly through
international agreements, can undermine national sovereignty. Countries may have to make
compromises on labor standards, environmental policies, and other regulations to meet
international standards or conform to trade agreements.​
Exploitation of Workers: Trade liberalization can sometimes lead to the exploitation of workers
in countries with weaker labor laws. Companies may shift production to countries with lower
wages and fewer worker protections, which can lead to poor working conditions and human
rights violations.​
Environmental Degradation: Increased trade can lead to greater industrial activity and
transportation, which may have negative environmental impacts. The push for cheaper
production may also encourage the use of less environmentally friendly processes, leading to
increased pollution and resource depletion.​
Increased Economic Inequality: While trade liberalization can lead to economic growth, the
benefits are not always evenly distributed. Wealthier countries and multinational corporations
often gain disproportionately from trade, while workers in low-skilled industries in poorer
countries may suffer from job losses.

The Relationship Between Trade Protectionism and Trade Liberalization

Trade protectionism and trade liberalization are two opposing approaches to international trade
policy. Trade protectionism seeks to shield domestic industries from foreign competition, often
by imposing tariffs, quotas, and other trade barriers. Trade liberalization, on the other hand,
advocates for reducing these barriers to encourage free trade and competition across borders.

In practice, countries often find themselves balancing elements of both, depending on their
economic objectives, political considerations, and international relations. For instance, a country
might liberalize trade in some sectors while protecting strategic or sensitive industries from
foreign competition.

The trend today is toward trade liberalization within the framework of regional trade
agreements (RTAs), free trade agreements (FTAs), and multilateral organizations like the
World Trade Organization (WTO). These agreements aim to lower trade barriers, but at the
same time, many countries retain protectionist measures in sensitive sectors, such as agriculture,
healthcare, and defense.

The two trends above have a powerful impact on each country's international trade policy over
time. Although they are opposing forces and have opposite effects on international trade
activities, they are unified and not mutually exclusive. These two trends are used in combination,
and Vietnam also applies both trends simultaneously in its foreign economic policy.

Vietnam's foreign trade policy tends to lean towards trade liberalization. Since Vietnam joined
the World Trade Organization (WTO), it has had to comply with regulations, including reducing
tariffs and quotas (however, Vietnam is still using several protectionist measures, such as
imposing high import taxes on products like cars, cosmetics, mobile phones, tobacco, cigars, and
alcoholic beverages. It also applies quotas on items such as raw tobacco, salt, cotton,
concentrated milk, corn, and poultry eggs). Overall, Vietnam’s long-term foreign trade policy
follows the trend of trade liberalization, but at certain times, there will be a combination of both
trade liberalization and trade protectionism policies. With the policy of regional and global
economic integration, Vietnam is moving toward trade liberalization. We have joined several
major economic organizations such as the "ASEAN Free Trade Area" and the "World Trade
Organization (WTO)." By joining these organizations, Vietnam has committed to reducing
tariffs. Additionally, we have removed quotas on some products, switched the export ban on
certain goods to export taxes, and continued to reduce and narrow the scope of products subject
to export taxes. Regarding import taxes, there should be research to reduce the maximum tax rate
and shift as many non-tariff regulations to tariff-based policies.

However, to protect the fledgling economy from the overwhelming pressure of other economies,
the government has also implemented several protectionist measures:

-​ Using non-tariff measures, tariffs, domestic licensing systems, and technical measures to
restrict imports.​
- Supporting domestic exporters by reducing or exempting export taxes, revenue taxes,
income taxes, providing export subsidies, etc., to facilitate easier entry into foreign
markets.

Câu 5: Đầu tư quốc tế: Khái niệm, đặc điểm của đầu tư gián tiếp và đầu tư trực tiếp nước
ngoài, tác động tích cực và tiêu cực. Liên hệ: hoạt động thu hút FDI tại Việt Nam

Concept: International investment is a business process in which investment capital moves from
one country to another to implement one or more specific projects, aiming to bring economic,
political, social, and environmental benefits to the participating parties.

Reasons: Profit Margin Differences: Arising from the development disparities between
countries, where there is an excess or shortage of capital. Typically, capital will flow from
countries with low profit margins to countries with higher profit margins, meaning from surplus
to deficit areas. This is the primary reason explaining the flow of capital from developed
countries to developing countries. Risk Diversification: Investors often tend to diversify across
industries, sectors, and even investment locations to reduce losses resulting from risks such as
natural disasters, political instability, and especially cyclical crises. This has facilitated the
movement of investment capital across regions worldwide. Other Reasons: It can also be driven
by the desire to exploit relatively cheap resources, avoid protectionist barriers, or increase
competitiveness by expanding market share.

Phân biệt đầu tư trực tiếp và gián tiếp nước ngoài:

Criteria Foreign Direct Investment (FDI) Foreign Indirect

Investment
Concept A form of capital movement between A form of capital movement
countries in which the investor directly between countries in which
participates in the management and the investor does not directly
operation of the investment target. participate in the
management and operation
of the investment target.

Characteristics + Source of capital: Only from private + Source of capital:

investors (private expansion). Primarily from private
+ Equity contribution ratio: >= 30%. investors, but may include
+ Responsibilities and benefits: The government or international
investor's rights and responsibilities depend organizations.
on the equity contribution ratio. Therefore, + Equity contribution
the scope of the investor’s responsibility ratio: Foreign investors are
increases compared to indirect investment. allowed to contribute a
The rate of return is usually higher but maximum of 30% of the
comes with greater risks. legal capital.
+ Responsibilities and
benefits: Foreign investors
are not directly responsible
for the business activities of
the investment target but
earn profits through interest
on loans or dividends.

Forms + Forms of investment: Mergers and + Forms of investment:

Acquisitions (M&A). New investments: Private investment: mainly
Joint ventures: at least two parties, one local through commercial credit
and one foreign, forming a limited liability or purchasing stocks and
company in the host country. 100% bonds. Government or
foreign-owned companies: no local international organizations'
participants, forming a limited liability investment typically
company in the host country. Business involves large-scale projects,
cooperation contracts: no new legal entity; low-interest rates, and long
profits and responsibilities are shared repayment periods (like
according to capital contributions, and each ODA).
party fulfills its financial obligations with
the government. And forms like
BOT-BTO-BT: primarily in infrastructure
and transportation sectors.
Positive Host country: FDI is a vital source of Recipient country: Indirect
Impacts capital for social investment. Opportunity to investment is a significant
transfer technology and management addition to total social
expertise. Employment, income, tax investment. The host country
revenue, and exports increase. Economic can utilize this capital
structure transformation, typically moving independently, without
toward modernization. relying on the capital
Investor country: Optimizing investment owners.
effectiveness. Expanding influence. Investor: This form helps
investors use capital flexibly
and effectively.

Negative Host country: Resource depletion and Recipient country: May

Impacts environmental pollution. Without proper easily fall under the political
planning, investment structure may become influence of investing
distorted. Social inequality, the influx of countries. The disadvantage
negative social issues. is that through indirect
Investor country: Technology loss, brain investment, the host country
drain. The trend of investing abroad may does not have the
lead to a shortage of capital in the investing opportunity to access
country. modern technology and
advanced management
experience.
Foreign investor:
Investment scope is limited
due to restrictions on equity
contributions and privatized
companies.

Criteria Foreign Direct Investment (FDI) Foreign Portfolio Investment

(FPI)

Control Investor has significant control Investor does not have control or
(typically 10% or more of voting significant influence.
shares).

Duration Long-term commitment, usually 5 Short-term, typically involves liquid

years or more. assets that can be quickly sold.

Investment Physical investment (factories, joint Financial investment (stocks, bonds,

Type ventures, etc.). mutual funds, etc.).

Risk Higher risk due to operational Lower risk, as the investment is

involvement and long-term nature. more liquid and can be quickly
withdrawn.
 Return Type Direct operational profits and Dividends, interest payments, or
long-term capital gains. capital appreciation of financial
assets.

Purpose To establish or expand business To earn returns from financial

operations in the host country. markets.

Impact on Host Direct impact on economic activity, Indirect impact, primarily through
Country employment, infrastructure, etc. capital markets.

Effects of FDI and FPI on the Investing Country and Host Country:

Impact on the Investing Country:

FDI:Positive Impacts:​
Diversification of investment, reducing reliance on domestic markets.​
Expansion of international influence and access to new markets.​
Potential for long-term high returns due to the direct involvement in business operations abroad.​
Negative Impacts:​
High initial capital outflow and potential risk exposure.​
Risk of losing domestic jobs and business focus if too much emphasis is placed on foreign
markets.​
FPI: Positive Impacts:​
Easier and quicker capital mobilization without the need for establishing operations.​
Greater liquidity and ability to diversify investments across countries and sectors.​
Negative Impacts:​
Short-term nature of investments may lead to volatile capital flows, potentially destabilizing both
the investing country and the host country.​
FPI may be seen as speculative, contributing to financial bubbles and risks.

Impact on the Host Country:

FDI:Positive Impacts:​
Job creation and skill development, as FDI typically involves building new businesses and
infrastructure.​
Technology and knowledge transfer, boosting local productivity and innovation.​
Increased exports, as foreign-invested firms may produce goods for export.​
Increased tax revenue for the government from the operation of businesses.​
Negative Impacts:​
Potential for environmental degradation if FDI is not properly regulated.​
Risk of economic dependence on foreign investors, leading to a loss of sovereignty in economic
decision-making.​
FDI may lead to the crowding out of local businesses or industries if foreign firms dominate the
market.​
 ●​ FPI: Positive Impacts:​
Provides capital for local financial markets, improving liquidity and investment
opportunities for local companies.​
Increases access to global financial markets and enhances the host country’s financial
integration with the global economy.​
Negative Impacts:​
Volatility in capital markets due to short-term flows of foreign investments.​
FPI might not lead to any significant job creation or long-term economic development
since it does not involve actual business operations.​
Large capital inflows can lead to currency appreciation, which can harm the
competitiveness of domestic exporters.

Policy Implications for Vietnam:

-​ For FDI: Encourage and Facilitate Long-term Investment:​

Vietnam can continue to promote FDI through favorable policies such as tax incentives,
investment subsidies, and regulatory simplifications for foreign businesses looking to set
up operations, especially in high-tech and infrastructure sectors. This would help attract
sustainable, long-term investments that benefit the economy in terms of employment and
technology transfer.​
Improve the Business Environment:​
Further reforming the regulatory environment, reducing bureaucracy, and ensuring better
transparency will attract high-quality FDI that benefits Vietnam’s industrial growth and
long-term development.​
Focus on Human Capital Development:​
Encouraging FDI in sectors that foster skill development and innovation will help
improve the labor force's productivity. Training local workers to take on managerial and
technical roles within foreign-invested companies will ensure that FDI creates more
lasting and widespread benefits.
-​ For FPI: Strengthen the Financial Markets:​
Vietnam should focus on developing its financial markets to make them more attractive
for FPI. This includes improving market transparency, investor protection laws, and
ensuring greater financial stability to reduce the potential risks from volatile capital
flows.​
Promote Sustainable and Long-term Capital Flows:​
Policies should be designed to balance short-term speculative investments with
long-term investments that support economic growth. Encouraging investments in green
bonds, infrastructure funds, and other forms of stable capital can help mitigate the risks of
sudden capital outflows.​
Regulate Capital Flows:​
The government could introduce measures to manage excessive volatility in FPI, such as
requiring higher capital reserve ratios for foreign investors or imposing taxes on
short-term capital gains. This would help ensure that FPI contributes to the country’s
growth without leading to financial instability.
Foreign Direct Investment (FDI) in Vietnam: Key Developments, Achievements,
Challenges, and Solutions

Recent Developments: In recent years, Vietnam has made significant progress in attracting
Foreign Direct Investment (FDI). In 2024, the total registered FDI in Vietnam reached nearly
$38.23 billion, a 3% increase compared to 2023. The actual FDI disbursed amounted to $25.35
billion, up 9.4%, indicating strong development in investment projects. Singapore, South Korea,
and Japan are the main investors, with Singapore leading the FDI inflow. In Q1/2025, FDI
registered reached nearly $11 billion, a 34.7% increase year-on-year, reflecting Vietnam's
growing attractiveness to international investors.

FDI continues to flow into the processing and manufacturing sectors, with increasing interest in
high-tech, clean energy, and semiconductor production. The government’s efforts to improve the
investment climate, support businesses, and simplify administrative procedures have
significantly boosted Vietnam's appeal.

Achievements: FDI has played a crucial role in restructuring Vietnam's economy, particularly by
driving the growth of the processing and manufacturing industries, increasing the value of
agricultural exports, and improving labor productivity. Foreign-invested enterprises have
contributed to the development of human resources through internal training systems or
partnerships with educational institutions.

FDI has also facilitated technology transfer, particularly in sectors like electronics, software, and
biotechnology. Furthermore, foreign-invested firms have been active in promoting green
technologies, helping Vietnam move towards a more sustainable and eco-friendly economy.

Challenges: Despite the success, challenges remain. FDI primarily targets labor-intensive sectors
like textiles and agricultural processing, which have led to significant environmental pollution.
The rapid expansion of FDI industrial zones has worsened air and water pollution. Additionally,
rural and remote areas still lack FDI projects, leading to regional economic disparities. While
some high-tech projects have been attracted, R&D investment remains low, and industrial sectors
like automotive manufacturing have not seen substantial local content development.

The FDI sector contributes to 25% of total investment and over 70% of Vietnam's export-import
turnover, but its contribution to the national budget is only 15-19%, which is relatively low.
Environmental pollution from FDI firms continues to be a major issue.

Solutions: To enhance FDI’s role in post-COVID economic development, several measures need
to be taken:

Policy Review and Adjustment: Timely review and adjustment of foreign investment policies to
align with global economic changes.​
Economic Recovery: Accelerate the return of economic activities to normal, resolve supply chain
disruptions, and strengthen investor confidence.​
Attracting Investment: Prepare conditions for attracting FDI, such as reviewing land use policies,
improving electricity infrastructure, and training a skilled workforce.​
Environmental and Technology Focus: Implement new regulations to select investors with
advanced technologies and environmentally friendly practices.​
Proactive Engagement: Collaborate with diplomatic agencies, business associations, and
consultants to attract investors in promising sectors.​
Strengthen Management Systems: Improve FDI management, monitoring, and supervision to
ensure a balance between local market protection and international commitments.​
Labor Skills Development: Focus on enhancing vocational training, soft skills, and professional
conduct to meet the demands of FDI enterprises in the 4.0 industrial revolution.​
FDI is a vital source of investment in Vietnam’s economic growth, driving industrialization and
modernization. Effective policies and continued efforts to attract high-quality FDI will contribute
to Vietnam’s sustainable development.

Câu 7. Tỷ giá hối đoái: khái niệm, các yếu tố ảnh hưởng đến tỷ giá, tác động của sự thay
đổi tỷ giá đến thương mại quốc tế và đầu tư quốc tế. Liên hệ: chính sách tỷ giá hối đoái của
Việt Nam thời gian qua
Khái niệm:
Tỷ giá hối đoái là giá cả của một đơn vị tiền tệ của một nước tính bằng tiền tệ của một nước
khác, hay là quan hệ so sánh về mặt giá cả giữa hai đồng tiền của các nước khác nhau.
Phương thức yết giá: có 2 phương thức:
+​ Phương pháp thứ nhất: lấy đồng nội tệ làm đơn vị so sánh sánh với số lượng ngoại tệ
+​ Phương pháp thứ hai: lấy ngoại tệ làm đơn vị so sánh với số lượng nội tệ.
Các yếu tố tác động đến tỷ giá hối đoái: các yếu tố chính bao gồm:
+​ Mức chênh lệch lạm phát giữa các nước:
+​ Mức độ lạm phát giữa 2 nước khác nhau ( trong điều kiện các nhân tố khác ko đổi ) à dẫn
đến hàng hóa ở 2 nước sẽ có những biến động khác nhau à ngang giá sức mua của 2 đồng
tiền bị phá vỡ và thay đổi tỷ giá hối đoái.Cụ thể như nếu tỷ lệ lạm phát ở 1 QG tăng lên
so với QG khác thì đồng tiền của QG thú 1 sẽ có xu hướng mất giá so với đồng tiền QG
thứ 2.
+​ Mức độ tăng hay giảm thu nhập quốc dân giữa các nước:
+​ Thu nhập quốc dân của 1 nước tăng lên hay giảm xuống so với nước khác( trong điều
kiện các nhân tố khác ko đổi) à làm tăng or giảm nhu cầu về hàng hóa và dịch vụ nhập
khẩu, à làm cho nhu cầu ngoại hối để thanh toán hàng nhập khẩu sẽ tăng lên hoặc giảm
xuống.
+​ Mức chênh lệch lãi suất giữa các nước: Khi mức lãi suất ngắn hạn của 1 nước tăng lên 1
cách tương đối so với các nước khác ( trong điều kiện các yếu tố khác ko đổi) à vốn ngắn
hạn từ nước ngoài sẽ chảy vào nhằm thu phần chênh lệch do tiền lãi tạo ra đó. à Làm
cung ngoại hối tăng lên, cầu ngoại hối giảm đi và thay đổi tỷ giá.
+​ Những kỳ vọng về tỷ giá hối đoái: Điều này có thể là 1 nhân tố rất quan trọng quyết định
tỷ giá, những kỳ vọng về giá cả của các đồng tiền có liên quan rất chặt chẽ đến những kỳ
vọng về biến động tỷ lẹ lạm phát, lãi suất và thu nhập giữa các quốc gia.
+​ Tình trạng của cán cân thanh toán quốc tế: Tình trạng thặng dư kéo dài liên tục của cán
cân thanh toán quốc tế làm cho cung ngoại tệ tăng à ngoại tệ giảm giá à tỷ giá hối đoái
giảm Ngược lại, sự thâm hụt kéo dài của cán cân thanh toán quốc tế và áp lực về cầu
ngoại tệ làm cho ngoại tệ tăng giá à tỷ giá hối đoái tăng.
+​ Sự can thiệp của chính phủ:Bất kỳ 1 chính sách nào của chính phủ mà có tác
động đến tỷ lệ lạm phát, thu nhập thực tế hoặc mức lãi sutrong nước đều có
ảnh hưởng đến sự
Biến động của tỷ giá hối đoái.
Chính phủ có thể sử dụng 3 loại hình can thiệp chủ yếu: (1) can thiệp vào thương mại quốc tế,
(2) đầu tư quốc tế , (3) can thiệp trực tiếp vào thị trường ngoại hối.
Tác động của tỷ giá hối đoái đến quan hệ thương mại và đầu tư quốc tế.
Tác động đến thương mại quốc tế:
Trong điều kiện các yếu tố khác ko đổi:
- Tỷ giá hối đoái tăng và nội tệ giảm dẫn đến việc:
+​ Giá hàng hóa XK rẻ tương đối và sức cạnh tranh của hàng hóa XK tăng à kích thích XK
+​ Giá hàng hóa NK đắt tương đối và sức cạnh tranh của hàng hóa NK giảm à hạn chế NK
- Tỷ giá hối đoái giảm và nội tệ tăng dẫn đến việc:
+​ Giá hàng hóa XK đắt tương đối và hạn chế Xk
+​ Giá hàng hóa NK rẻ tương đối và kích thích NK
Tác động đến đầu tư quốc tế:Trong ngắn hạn, khi các yếu tố khác chưa kịp thay đổi:
- Tỷ giá hối đoái tăng và nội tệ giảm dẫn đến Tài sản trong nước rẻ và kích thích thu hút đầu tư
nước ngoài
Tài sản nước ngoài đắt à hạn chế đầu tư ra nước ngoài: Chính sách của chính phủ
thường là duy trì đồng nội tệ yếu : hạn chế NK,kích thích Xk à thu hút đầu tư nước
ngoài
- Tỷ giá hối đoái giảm và nội tệ tăng:Hạn chế thu hút ĐTNN. Kích thích ĐT ra nước ngoài.

Như vậy phải có mục tiêu và định hướng rõ ràng để có giải pháp thích hợp. Mục tiêu và định
hướng Chúng tôi cho rằng mục tiêu của chính sách tỷ giá nước ta trong thời gian tới là: - Chính
sách tỷ giá phải giữ vững thế cân bằng nội và cân bằng ngoại. - Ổn định tỷ giá trong mối tương
quan cung cầu trên thị trường xuất khẩu, kích thích xuất khẩu, hạn chế nhập khẩu , cải thiện cán
cân thanh toán quốc tế và tăng dự trữ ngoại tệ. - Từng bước nâng cao uy tín VND, tạo điều kiện
cho VND có thể trở thành đồng tiền chuyển đổi. - Phối hợp với chính sách ngoại hối để chống
hiện tượng đô la hoá. Để đạt được mục tiêu trên chúng tôi đưa ra một số định hướng hoàn thiện
chính sách thế giới HĐ như sau: Quá trình mở cửa và hội nhập kinh tế quốc tế đòi hỏi chính
sách thế giớiHĐ phải liên tục được hoàn thiện và điều chỉnh thích ứng với môi trường trong
nước và quốc tế thường xuyên thay đổi. Để góp phần khai thác tối đa những lợi ích và giảm thiểu
những tổn thất từ hội nhập kinh tế quốc tế, chính sách thế giớiHĐ ở Việt Nam trong thời gian tới
cần hoàn thiện theo những định hướng cơ bản sau: Thứ nhất: Tiếp tục duy trì cơ chế tỷ giá thả
nổi có quản lý của Nhà nước. Thứ hai: Chính sách thế giớiHĐ phải đóng vai trò tích cực trong
việc bảo hộ một cách hợp lý các doanh nghiệp trong nước. Thứ ba: Kết hợp hài hòa lợi ích giữa
hoạt động xuất khẩu và nhập khẩu theo hướng đẩy mạnh hoạt động xuất khẩu các sản phẩm mà
mình có lợi thế so sánh, nhưng mặt khác cũng cần gia tăng nhập khẩu các sản phẩm không có lợi
thế so sánh để thỏa mãn tốt hơn nhu cầu ngày càng tăng về sản xuất và tiêu dùng nội địa.Nâng
cao vị thế đồng tiền Việt Nam. Nâng cao sức mạnh cho đồng tiền Việt Nam bằng các giải pháp
kích thích nền kinh tế như: hiện đại hoá nền sản xuất trong nước, đẩy mạnh tốc độ cổ phần hóa
doanh nghiệp quốc doanh làm ăn thua lỗ, tăng cường thu hút vốn đầu tư trong và ngoài nước,
xây dựng chính sách thích hợp để phát triển nông nghiệp, khuyến khích xuất khẩu, bài trừ tham
nhũng …

Câu 8. Hội nhập kinh tế quốc tế: khái niệm, bản chất, tác động, các hình thức hội nhập
kinh tế khu vực
Economic integration refers to the process of connecting and cooperating the economy of one
country with others or regional/global economic organizations. It is a significant and inevitable
trend in the development of each country and the world as a whole.

At its core, economic integration involves the internationalization of economies, with countries
voluntarily participating and accepting the terms and principles agreed upon in the spirit of
equality and mutual benefit.

While economic integration brings positive impacts, it also presents challenges and negative
consequences:

1. Positive Impacts:Through agreements, countries coordinate development programs in

economics, technology, culture, and social fields. This cooperation allows countries to optimize
national advantages in the international division of labor, enhance trade relations, attract foreign
investments, and expand markets.​
It leads to relative stability for mutual development and flexible reactions in international
economic relations.​
Economic integration forms a new international economic structure that enhances job creation,
improves income, and boosts social welfare.​
It stimulates competition, encourages the application of scientific and technological advances,
and improves economic management mechanisms.​
Countries find an appropriate position in the new world order, increasing their influence and
contributing to regional and global peace, security, and stability.​
It helps improve national policies and legal frameworks in alignment with international
standards.​

2. Negative Impacts:

Economic integration increases competition among members, leading to potential difficulties for
businesses and industries, even bankruptcies.​
It increases dependency on regional and global markets, making countries vulnerable to global or
regional economic crises.​
Developing countries may face risks of becoming dumping grounds for industrial waste from
developed nations.​
It may challenge traditional state sovereignty and cultural identities.​
International terrorism, smuggling, transnational crime, and illegal immigration can increase
with greater economic integration.​
Economic benefits and risks are not equally distributed, leading to a widening gap between rich
and poor countries or social classes.​

2.2 Regional Economic Integration:

a) Free Trade Areas (FTA): An FTA involves two or more countries agreeing to reduce or
eliminate tariffs and trade barriers within the group while maintaining independent external
tariffs. Examples include ASEAN Free Trade Area (AFTA) and North American Free Trade
Agreement (NAFTA). Modern FTAs go beyond just trade in goods to include services, labor, and
investments.

b) Customs Unions (CU): A Customs Union removes internal tariffs and adopts a common
external tariff for all members. Examples include the Southern African Customs Union (SACU)
and the European Economic Community (EEC) before the 1980s.

c) Common Markets (CM): A higher level of economic integration, allowing the free
movement of goods, capital, and labor between member countries. Examples include the
European Common Market and MERCOSUR.

d) Economic and Monetary Unions (EMU): This is a high level of integration where countries
not only share a common market but also adopt a common currency and monetary policy. An
example is the European Monetary Union (EMU), which uses the euro.

Vietnam’s Economic Integration Journey:

Vietnam has progressively integrated into global trade through 15 active Free Trade Agreements
(FTAs) and ongoing negotiations. Joining organizations like ASEAN (1995), APEC (1998), and
the WTO (2007) has significantly boosted its trade relations, helping Vietnam diversify exports
and integrate modern technologies.

Vietnam’s international integration has promoted the development of human resources and
improved economic management. It has also spurred economic reforms and improved the
investment climate, allowing the country to advance further in its development.

Challenges and Strategies for Vietnam: Vietnam’s international integration requires active
participation from all sectors of society, ensuring policies that harness the country's full potential.​
Economic integration should be based on maximizing internal strengths, improving
infrastructure, and enhancing the country's competitive ability.​
Integration efforts should harmonize with national defense, cultural preservation, and social
development.​
Vietnam must navigate international integration flexibly, adhering to its national interests while
participating constructively in global initiatives.

9. Cán cân thanh toán quốc tế: khái niệm, nguyên tắc ghi chép và các bộ phận cấu thành.
Hạch toán các giao dịch thương mại, đầu tư, chuyển giao đơn phương… vào CCTT quốc
tế.
Cán cân thanh toán quốc tế:

Concept: The international balance of payments (BOP) is understood as a summary of financial

and economic transactions between one country and the rest of the world. Globally, the BOP
records all transactions between "residents" and "non-residents" of a country during a specific
period, usually one year.
Residents: All citizens of the country and any individuals or entities with a residence period of
one year or more in the country. Non-residents: Foreign individuals or entities who do not reside
in the country for one year or more.

Principle of Recording – Credit and Debit:

Any transaction that involves a foreign currency (demand for domestic currency) is recorded as a
credit (+).​
Any transaction that involves a demand for foreign currency (supply of domestic currency) is
recorded as a debit (-).​
Double-entry bookkeeping: Any transaction recorded in the BOP will appear in at least two
accounts. If a transaction is recorded as a credit in one account, it will be recorded as a debit in
another account, and vice versa. Therefore, the total sum of a transaction will always equal zero.

Components of the Balance of Payments:

1.​ Current Account (Cân Bằng Thường Xuyên):​

This account reflects the following activities:​
Exports and Imports of goods.​
Exports and Imports of services.​
Unilateral transfers: Income transfers, Grants, Gifts, Remittances from overseas.​

2.​ Capital Account (Cân Bằng Nguồn Vốn):​

This account records:All capital investments and transfers. Short-term capital: Non-term
deposits, short-term deposits. Long-term capital: Direct investments, indirect
investments.​

3.​ Official Reserve Account (Tài Khoản Dự Trữ Chính Thức):​

This account reflects: Changes in foreign exchange reserves. Loans and borrowings
between central banks and international financial institutions. The overall deficit and
surplus of the other accounts.​

Recording Commercial Transactions, Investments, and Unilateral Transfers in the Balance of

Payments:

1.​ Example 1: Export of Rice by Vietnam The state-owned company in Northern Vietnam
exports 20,000 tons of rice at a price of $500 per ton. The foreign partner pays by
transferring money to the company's account in a foreign bank. Vietnam’s Balance of
Payments: Credit (+) Current Account / Export of Goods: $10,000,000 (export of 20,000
tons of rice). Debit (-) Capital Account / Short-term: $10,000,000.​

2.​ Example 2: Foreign Investment in Vietcombank A foreign investor buys 100,000 shares
of Vietcombank, valued at $500,000. The investor pays by transferring money from his
account at a Vietnamese bank. Vietnam’s Balance of Payments:​
Credit (+) Capital Account / Indirect Investment: $500,000 (purchase of 100,000
Vietcombank shares).​
 Debit (-) Capital Account / Short-term: $500,000 (Foreign assets in Vietnam decrease).​

3.​ Example 3: Humanitarian Aid from Sweden The Swedish government provides
humanitarian aid to the Vietnamese people affected by natural disasters, worth $2 million
in the form of medicine, medical equipment, and food. Vietnam’s Balance of Payments:​
Credit (+) Current Account / Unilateral Transfers: $2,000,000 (receiving non-refundable
aid).​
Debit (-) Current Account / Import of Goods: $2,000,000 (import of medicine, medical
equipment, food).

10. Đánh giá tình hình ngoại thương của Việt Nam thời gian qua: ưu điểm và hạn chế. Các
giải pháp tăng sức cạnh tranh và thúc đẩy xuất khẩu hàng hóa Việt Nam.

Evaluation of Vietnam's Foreign Trade Situation in Recent Years

Advantages:

●​ The growth rate of foreign trade has been quite high in recent years, averaging over 20%
per year, which is 2-3 times higher than the growth rate of the social production sector,
leading to an increase in the scale of export and import turnover.​

●​ Vietnam's foreign trade market has continuously expanded, shifting from a single-market
model to a multi-market one.​

●​ Vietnam's foreign trade has gradually built up large-scale export products accepted by the
global market, such as oil and gas, rice, seafood, textiles, footwear, etc., while taking
advantage of comparative advantages in labor division and international cooperation.​

●​ The country’s foreign trade system has gradually transitioned from a centralized planning
mechanism to a business accounting mechanism, promoting autonomy for enterprises,
boosting exports, and enhancing the socio-economic effectiveness of foreign trade
activities.​

●​ Vietnam's policies have been significantly reformed, focusing on liberalizing trade and
investment, while reducing government intervention in international trade.​

Disadvantages:

●​ The scale of export and import is still too small compared to other countries in Southeast
Asia.​

●​ The structure of export items remains backward, with low-quality, fragmented products
that lack competitiveness, primarily consisting of raw materials with low scientific and
technological content, resulting in disadvantages in international trade.​
 ●​ Vietnam’s foreign trade market is still unstable, largely dependent on markets in the
region and intermediary markets, with a lack of large and long-term contracts.​

●​ The management of export-import activities lacks coherence and consistency. Many

businesses have failed to maintain trust, leading to contract violations and severe
consequences; many trade professionals still lack adequate expertise.​

●​ Smuggling, trade fraud, and other illicit activities are yet to be effectively addressed.​

●​ Despite reforms aimed at loosening state control over international trade, the current
mechanisms, policies, and enforcement still face many shortcomings, resulting in losses
for the state and businesses, both domestic and foreign.​

Solutions to Promote Export Growth in the Coming Period:

At the Macro Level:

1.​ First and foremost, a clear, consistent, and stable legal environment should be established
to create a fair, transparent business environment, eliminating monopolies and combating
trade fraud. This should start with building and consolidating the market economy
institution as the foundation of international business.​

2.​ Review policies that support and encourage exports, focusing on reducing monopolies,
offering fewer incentives, and addressing trade fraud. This includes tax policies, credit
policies, and limiting privileges for state-owned enterprises.​

3.​ Limit monopolies and reduce protectionism to encourage enterprises to enhance exports
and compete with foreign partners when Vietnam opens its trade and investment markets,
while ensuring equality for businesses in export-import activities. All exporters should
receive the same encouragement based on equality, applying market principles to ensure
that efficient exporters will expand their exports, while less efficient exporters will
shrink.​

4.​ Develop an export strategy focused on high-tech industries, transforming the economic
structure to improve the export efficiency of specific goods.​

5.​ Enhance trade promotion at the governmental level and improve the effectiveness of
trade promotion organizations in foreign markets to guide enterprises towards long-term
strategic goals.​

6.​ Build a long-term training strategy to develop a highly skilled workforce and
management team capable of adapting to the demands of integration. Vietnam’s future
competitiveness will depend on the creativity of its people and the world’s advanced
technology.​
 7.​ Accelerate the process of international economic integration, as this offers Vietnam
additional market opportunities and accelerates economic market reforms.​

At the Enterprise Level:

1.​ Enterprises must recognize the opportunities brought about by international business
through Vietnam’s integration process and adjust production toward export and
international market competition. The significant business opportunities enterprises
should take advantage of include those related to the AFTA, the Vietnam-US Trade
Agreement, and Vietnam’s accession to the WTO.​

2.​ Enterprises need to develop a product strategy, effectively leveraging national

comparative advantages in selecting business products, focusing on product research and
development, modernizing product design, and choosing an appropriate quality
management system to enhance product quality.​

3.​ Conduct market research, expand distribution networks, improve the quality of
distribution systems, and quickly respond to changes in competitors’ strategies, while
identifying new markets.​

4.​ Improve business skills, management capacity, labor qualifications, marketing

knowledge, and the use of scientific and technological advancements, as well as IT skills.
Encourage employees’ innovation in various business operations.​

5.​ Develop a stable, long-term development strategy that adapts to the dynamic market
conditions, reducing the focus on short-term profit maximization and investing in
strengthening brand positioning and product promotion to gradually build market
credibility internationally.​

6.​ Strengthen the role of industry associations, enhancing their capabilities to meet the
demands of businesses in the context of integration. These associations will help unite
enterprises, creating collective strength to compete with foreign competitors.​

This evaluation and the proposed solutions aim to guide Vietnam in overcoming current
challenges and leveraging its strengths to grow foreign trade, boost exports, and effectively
integrate into the global economy.

11. Describe the degree of economic integration and give example? Analyse the
effect of trade – creating and trade- diverting customs union

Economic integration refers to the process by which countries reduce trade barriers and increase
economic cooperation, aiming to create a more interconnected and unified regional economy.
The degree of economic integration can range from minimal cooperation to full integration, and
there are different stages of integration. These stages include:
Free Trade Area (FTA): In a free trade area, countries agree to remove tariffs and other barriers
to trade between themselves. However, each country maintains its own trade policies with
non-member countries. Example: The North American Free Trade Agreement (NAFTA), now
replaced by the United States-Mexico-Canada Agreement (USMCA), is an example where the
U.S., Canada, and Mexico removed tariffs among themselves, but each country has its own trade
policy toward non-member countries.​
Customs Union: A customs union involves the removal of tariffs between member countries and
the establishment of a common external tariff (CET) for trade with non-member countries. This
means that all member countries have the same trade policies for goods imported from outside
the union. Example: The European Union (EU) started as a customs union before evolving into a
full economic union. The Southern African Customs Union (SACU) is another example, where
Botswana, Lesotho, Namibia, South Africa, and Eswatini (Swaziland) share a common external
tariff.​
Common Market: A common market is a deeper level of integration, where, in addition to free
trade of goods and a common external tariff, there is free movement of labor, capital, and
services among member countries. Example: The European Economic Area (EEA) allows the
free movement of people, goods, services, and capital between member states, which includes
EU countries and a few others like Norway and Iceland.​
Economic Union: An economic union involves a common market along with common policies
on various economic sectors (e.g., monetary, fiscal, agricultural), and often includes shared
institutions to manage these policies. Example: The European Union (EU) is an economic union
with common policies, a common currency (the Euro, for the Eurozone countries), and shared
governance structures.​
Political Union: This is the highest form of integration, where member countries not only
integrate economically but also politically. There is a unification of political institutions and a
common government. Example: The United States of America, which is a political union of 50
states, has a common government, legal system, and currency.​

Effects of Trade-Creating and Trade-Diverting Customs Unions

In the context of a customs union, two important concepts that affect trade flows and the
economies of member and non-member countries are trade creation and trade diversion.

Trade-Creating Effect:​
Definition: This occurs when a customs union leads to the formation of new trade relationships
between member countries, which would not have existed without the union. It happens when
cheaper goods from one member replace more expensive domestic production in another
member country, resulting in a more efficient allocation of resources.​
Effect: Trade creation typically improves overall welfare by enhancing economic efficiency.
Member countries can specialize in the goods they produce most efficiently, and consumers
benefit from lower prices and a wider variety of goods.​
Example: When countries in the European Union removed trade barriers, it allowed them to
access cheaper goods produced by more efficient producers within the EU. This resulted in
increased intra-EU trade and greater efficiency.​
- Trade-Diverting Effect:​
Definition: This occurs when a customs union shifts trade from a more efficient non-member
country to a less efficient member country because the member countries have a common
external tariff (CET). This leads to a situation where trade is diverted from more competitive
producers outside the union to less competitive producers within the union due to tariff
preferences.​
Effect: Trade diversion can lead to inefficiencies and a reduction in overall welfare because trade
is now being directed to higher-cost producers. This effect is often seen as detrimental because it
does not lead to an optimal allocation of resources.​
Example: Suppose a non-EU country produces steel more efficiently than an EU member state.
If a country outside the EU faces high tariffs when exporting steel to the EU, while steel from
other EU countries enters tariff-free, the EU country with higher costs would benefit, but overall
economic efficiency would be reduced.​

Analysis of Trade-Creating and Trade-Diverting Effects

Trade Creation generally leads to positive economic outcomes. It results in lower prices,
increased competition, better resource allocation, and greater efficiency. This is particularly
beneficial for consumers and firms within the customs union. It helps countries to specialize
based on comparative advantage, increasing overall welfare. The European Union is an example
where trade creation has significantly benefited member countries by allowing them to focus on
industries where they are most efficient.​

Trade Diversion, on the other hand, can lead to negative economic consequences. While it may
help protect inefficient industries within the union, it leads to a misallocation of resources.
Countries within a customs union might end up purchasing goods from less efficient producers,
simply because of the external tariff policy, which is ultimately harmful to economic growth and
consumer welfare. A classic case is when countries in a customs union divert trade from a more
efficient external producer to a less efficient internal one due to the imposition of tariffs on
outside countries.

In conclusion, trade creation tends to enhance welfare and efficiency, while trade diversion
can have a detrimental effect on economic performance by promoting inefficiency. For any
customs union to be beneficial, the overall trade-creating effects should outweigh the
trade-diverting effects.

12. Opportunities and Challenges/Positive and Negative Impact of CPTPP and

EVFTA on Trade in Goods and Services

Both the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

(CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) are significant trade
agreements that have opened up new opportunities and posed challenges for trade in goods and
services. Let's analyze the opportunities and challenges/positive and negative impacts of these
agreements on trade.

1. Comprehensive and Progressive Agreement for Trans-Pacific Partnership

(CPTPP)
Opportunities (Positive Impact)

Increased Market Access:​

The CPTPP connects Vietnam to 10 other economies, including major markets such as Japan,
Canada, Australia, and Mexico. This opens up access to markets that were previously difficult to
penetrate due to trade barriers.​
The removal or reduction of tariffs under CPTPP significantly increases the competitiveness of
Vietnamese goods, particularly in sectors like textiles, footwear, agriculture, and electronics.​
Diversification of Export Markets:​
By joining the CPTPP, Vietnam reduces its dependency on traditional markets like China and the
EU. This diversification protects against economic or political disruptions in any single market,
ensuring a more resilient trade structure.​
The agreement also provides opportunities for Vietnam’s service sector, including financial,
telecommunications, and education services, to expand in CPTPP countries.​
Attracting Foreign Direct Investment (FDI): The CPTPP includes commitments to improve
investment conditions, such as better protection for intellectual property and enhanced dispute
resolution mechanisms, which make Vietnam more attractive to international investors.​
This can lead to greater inflows of foreign investment in sectors like high-tech, manufacturing,
and infrastructure, creating more job opportunities and boosting the economy.​
Technological Advancements and Innovation:​
The agreement includes provisions for the protection of intellectual property rights (IPR), which
can encourage innovation and technological exchange between member countries. This will help
Vietnam modernize its industries and improve product quality.

Challenges (Negative Impact)

Competition for Domestic Industries: While the CPTPP opens new markets for Vietnamese
products, it also exposes domestic industries to fierce competition from more advanced
economies. Sectors like agriculture and manufacturing could face challenges in meeting the
higher standards and competing with more efficient foreign producers.​
For instance, the agricultural sector may struggle to compete with higher-quality products from
countries like Australia or New Zealand, which have more advanced farming technologies.​
Impact on Small and Medium Enterprises (SMEs):​
Small businesses in Vietnam may find it difficult to navigate the complexities of the CPTPP and
meet the standards required for export to advanced markets. Without adequate support, these
SMEs could face difficulties in tapping into the benefits of the agreement.​
In particular, the rules of origin, labor standards, and environmental regulations can be
challenging for smaller producers who may not have the resources to comply with these
requirements.​
Labor and Environmental Concerns: The CPTPP includes provisions related to labor
standards and environmental protection. While these are positive in the long term, they may
require significant adjustments in Vietnam’s labor laws and environmental regulations, which
could involve short-term costs for businesses.​
The implementation of these commitments might increase operational costs for some industries,
particularly those in low-wage sectors like textiles and footwear.​
2. EU-Vietnam Free Trade Agreement (EVFTA)
Opportunities (Positive Impact)

Market Access to the EU: The EVFTA removes most tariffs between Vietnam and the EU,
providing Vietnamese businesses with easier access to one of the world's largest consumer
markets. Sectors like electronics, footwear, textiles, and agricultural products will benefit from
reduced tariffs and quotas. For example, Vietnamese seafood, coffee, and textiles will have a
greater chance of competing in the European market.​
Boosting Trade in Services: The EVFTA not only focuses on goods but also offers significant
opportunities for services trade. The agreement enhances access to the EU market for Vietnam’s
service sectors, including information technology, finance, and logistics.​
The EU is a global leader in digital services, and Vietnam’s IT sector can gain significantly from
the EVFTA in terms of collaboration, knowledge transfer, and expanded market access.​

Improvement in Standards and Quality: By aligning Vietnam's standards with those of the
EU, the EVFTA facilitates the modernization of Vietnam's industries, improving the quality of its
products and services. This will enable Vietnamese businesses to better meet international
market requirements and attract consumers in high-end markets.​
The EVFTA also includes provisions for the protection of intellectual property, which will
benefit Vietnam’s creative industries and attract more foreign investments in innovation and
R&D.​

Strengthening Relations and FDI: The EVFTA strengthens the relationship between Vietnam
and the EU, which is expected to attract more EU-based investment into Vietnam, especially in
high-tech, clean energy, and infrastructure development sectors. EU investors will be more
confident in Vietnam due to enhanced investor protections and dispute resolution mechanisms
embedded in the agreement.​

Challenges (Negative Impact)

Market Competition: While the EVFTA provides access to EU markets, it also exposes
Vietnamese businesses to heightened competition from EU producers who have advanced
technologies and established reputations. Vietnamese agricultural products, especially those with
lower quality or high production costs, may struggle to compete with the quality and efficiency
of European products. The EU market is highly competitive, and small or less efficient
Vietnamese companies could find it difficult to meet the stringent regulatory and quality
standards required for export.​
Adjustment to EU Regulations: The EU has stringent regulations related to environmental
protection, labor standards, consumer safety, and intellectual property. Vietnamese businesses
will need to adjust to these standards, which could be costly and time-consuming. Some
Vietnamese industries, particularly agriculture and food processing, may struggle to meet EU
standards related to sustainability and traceability, which could limit their export opportunities.​
Displacement of Domestic Production: As tariffs are reduced or eliminated for EU products,
some sectors in Vietnam could face challenges. For example, European cars, luxury goods, or
agricultural products might flood the Vietnamese market, making it harder for domestic
producers to compete. The influx of foreign products might hurt local industries that are unable
to compete on price or quality, leading to job losses in certain sectors.​