1. Vietnamese legislators will elect the country’s new PM, President & NA Chair three months ahead of schedule. Reaction from business community?
So far, there has been no recorded official reaction from business community. But some unofficially view this move as unprecedented (though not entirely unusual).
As a foreigner having lived here for more than 20 years, I myself am not surprised at this change. The election result (who plays which role) perhaps has been set. This in fact is speeding up of the final formation process.
2. Does it show or mean anything about the “new regime”?
The expression of “new regime” isn’t one I would support and it is still too soon to conclude how the new premiership will unveil Vietnam politically and economically. It should be noted that Vietnam is a single party democracy therefore “regime change” is not technically correct in this case whatsoever.
However, the election result could be a signal that the Congress, or in other words, the conservative side, has gained an upper hand. This raises a concern about the reform progress in the upcoming time.
My recommendation to the Vietnamese Government at this stage: The new Government should not hesitate and make very clear via official channels that it will continue with its excellent strategy of high level international integration and speedy implementation of its signed trade pacts to pave the way for market access and strong growth in Foreign Direct Investment into Vietnam.
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Please do not hesitate to contact Oliver Massmann under omassmann@duanemorris.com if you have any questions or want to know more details on the above. Mr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
Thank you!