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Netflix told to remove its video games from app stores in Vietnam

Vietnam’s Ministry of Communication–the MIC–has told Netflix it will need to stop advertising its video games on its platform and will need to remove them from the Apple App store and Google Play store by April 15, according to a statement on its website. It is says that Netflix has not been licensed to provide video games in the country and therefore the firm is breaching Vietnam’s Decree 72/2013/ND though it does not specify which part of the Decree.

Of note, the MIC has been pushing cross-border service providers to establish offices in Vietnam but few firms have yet compiled. Local offices would provide the MIC greater control over the content that is disseminated with an office to raid in the event a firm breaches its guidelines. TikTok, one of the few that has opened a local office, found itself subject to an audit by the MIC which found a number of breaches of a range of rules and regulations.

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Vietnam bad debt hits 6.9 percent

Of note, pursuant to amendments to Circular 39 made in June, loan applications for less than VND 100 million or about US$4,000 no longer need to detail a plan for the borrowed funds. Also back in November and December of last year, to meet annual credit growth targets, Vietnam’s banks embarked on some pretty aggressive lending campaigns that saw credit growth jump considerably but in what looked like mostly consumer loans. It could be that some of these loans are now turning bad…

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Vietnam market-economy review outcome postponed to August

Of note, Vietnam’s efforts to be redesignated a market economy for trade remedies purposes has been met with quite a bit of resistance in the United States. Its case for redesignation is also pretty shaky in a few areas, currency convertibility and government, for example. As such it’s not really clear which way the DOC might fall…

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Vietnam targeting GDP CAGR of 10.18 percent to 2030

Vietnam’s GDP is currently US$4,620 according to IMF data which would mean Vietnam’s GDP would need to grow at a compounded annual growth rate–a CAGR–of 10.18 percent. For comparison, in the last five years Vietnam’s GDP has grown on a CAGR of just 6.08 percent…

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What Does a Devalued Yen Mean for Vietnam?

Earlier this year the Japanese yen hit a 38-year low against the greenback and it’s currently sitting about 15 percent lower now than it was at the start of the year. Similarly, the Vietnamese dong took a big fall but has been propped up by the State Bank which has by extension kept the local currency higher against the Yen too. This article looks at what that might mean for Vietnam…

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Vietnam PM pushes car registration reduction, despite legal risks

Of note, concerns were raised by the Ministry of Finance last week, that a car registration fee reduction policy that applies only to locally made vehicles could contravene the European Vietnam Free Trade Agreement and Vietnam could be at risk of being sued. This was reportedly raised by the EU as a potential problem earlier this year…

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