BTEC HND IN BUSINESS (FINANCE

)
ASSIGNMENT COVER SHEET
NAME OF STUDENT
REGISTRATION NO.
UNIT TITLE

Nguyễn Việt Phong | Phong
F05-173
Business Environment (Unit 1)

ASSIGNMENT TITLE

Vietnam Association of Seafood Exporters and Producers
(VASEP)

ASSIGNMENT NO
NAME OF ASSESSOR
SUBMISSION DEADLINE

2 of 2
Jubred A. Peñano
January 10, 2013

I, __________________________ hereby confirm that this assignment is my own work and not
copied or plagiarized from any source. I have referenced the sources from which information is
obtained by me for this assignment.

________________________________

_________________________

Signature

Date

----------------------------------------------------------------------------------------------------------------

FOR OFFICIAL USE
Assignment Received By:
BE A2 2012-2013 HVNH

Date:
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Unit Outcomes - BE A2
Outcome

Evidence for
the criteria

Assessor’s
Decision

Feedback

First
attempt

Understand
the behavior
of
organizations
in their market
environment
LO3

Be able to
assess the
significance of
the global
factors that
shape national
business
activities
LO4

Explain how
market
structures
determine
pricing and
output decisions
of businesses

3.1

Illustrate the
way in which
market forces
shape
organizational
responses using
a range of
examples

3.2

Judge how the
business and
cultural
environments
shape the
behaviour of a
selected
organisation

3.3

Discuss the
significance of
international
trade to UK
business
organisations

4.1

Analyse the
impact of global
factors on UK
business
organisations

4.2

Evaluate the
impact of
policies of the
European Union
on UK business
organisations

4.3

Merit grades awarded

M1

M2

M3

Distinction grades awarded

D1

D2

D3

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Internal
Verification

Outcome

Evidence for
the criteria

Assessor’s
Decision

Feedback

First
attempt

Rework

Assignment
( ) Well-structured; Reference is done properly / should be done (if any)
Overall, you’ve
Areas for improvement:

ASSESSOR SIGNATURE

DATE

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/

DATE

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/

NAME: ..........................................................................................

(Oral feedback was also provided)
STUDENT SIGNATURE
NAME : .............................................................................
FOR INTERNAL USE ONLY
VERIFIED
YES
NO
DATE
: ...........................................................................
VERIFIED BY : ...........................................................................
NAME
: ...........................................................................

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Internal
Verification

Business Environment Report

Prepared for: Jubred A. Peñano
Prepared by: Nguyễn Việt Phong
ID: F05-173
Number of words:

Course: Business Environment
Banking Academy, Hanoi
BTEC HND in Business
Submit date: 11th Jan, 2013
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Executive Summary
VASEP is a big organizations in Vietnam that mainly focus on producing seafood to
meet the demands of domestic markets as well as export to the international market.
In this assignment, the author has conducted many researches to gather information
about the characteristics of VASEP and the impact of global factors on the firm and
how they behave in the international market.
This project researches VASEP on variety of aspects:

Explain how market structures determine pricing and output decisions of
businesses

Illustrate the way in which market forces shape organizational responses
using a range of examples

Judge how the business and cultural environments shape the behaviour of a
selected organization

Discuss the significance of international trade to UK business organization

Analyse the impact of global factors on UK busines organizations

Evaluate the impact of policies of the European Union on UK business
organizations

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Contents
Introduction ................................................................................................................................ 7
3.1 Explain how market structures determine pricing and output decisions of businesses ....... 8
3.1.1 Local market .................................................................................................................. 8
3.1.2 International market ....................................................................................................... 9
3.2 Illustrate the way in which market forces shape organizational responses using a range of
examples .................................................................................................................................. 11
3.2.1 Bargaining Power of Buyer (High) ............................................................................. 11
3.2.2 Bargaining Power of Suppliers (Low) ......................................................................... 11
3.2.3 Competitive rivalry (High) .......................................................................................... 11
3.2.4 Threats of New Entrants (High) .................................................................................. 12
3.2.5 Threat of Substitutes (High) ........................................................................................ 12
3.2.6 Marketing Mix ............................................................................................................. 12
3.3: Judge how the business and cultural environments shape the behaviour of a selected
organization.............................................................................................................................. 13
3.3.1 Form of anti- competitive behavior. ............................................................................ 13
3.3.2. VASEP behavior......................................................................................................... 13
4.1. Discuss the significance of international trade to UK business organizations ................. 14
4.1.1. The importance of international trade ........................................................................ 14
4.1.2 International competitiveness ...................................................................................... 15
4.2 Analyze the impact of global factors on UK business organizations ................................ 15
4.2.1. Political ....................................................................................................................... 15
4.2.2. Economical ................................................................................................................. 15
4.2.3. Social issues ................................................................................................................ 15
4.2.4. Technological ............................................................................................................. 16
4.2.5. Environment protection .............................................................................................. 16
4.2.6. Legal factors ............................................................................................................... 16
4.3. Evaluate the impact of policies of the European Union on UK business organization .... 16
4.3.1. European Monetary System (EMS) ............................................................................ 16
4.3.2. Common Agriculture Policy (CAP) ........................................................................... 17
4.3.3. Social Welfare ............................................................................................................ 17
4.3.4. Regional policy ........................................................................................................... 17
Conclusion ............................................................................................................................... 19
References ................................................................................................................................ 20

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Introduction
Nowadays, in Vietnam, aquaculture production is considered one of the key
economic sectors with steady growth and new challenges because of increased
legislation and consumer demands on a global scale. VASEP is currently one of the
leading seafood producers and exporters in Vietnam.
Currently, VASEP is a well-known and prestigious brand not only in the
regional but also worldwide market. Besides that, the labor force of this corporation
is equipped enough knowledge and taken care of significantly. Moreover, with the
modern technologies and equipment for the production, VASEP ensures to bring the
best quality and safest shrimp products to their customers.
In this report, I will investigate and analyze the behavior of the company and
the market environment through the market structure, the relationship between
market forces and the company, and the behavior and competitive strategies
employed by the company. In addition, I also mention about the significance of
international trade and the European dimension.

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3.1 Explain how market structures determine pricing and output decisions of
businesses
Local
International
A

Marketing structure

Oligopoly

Perfect competitors

B

Pricing

Cheap

Expensive

C

Volume

Large

Large

D

Variety

Wide

Wide

E

Customers

Many

Many

Figure1. Market structures determine pricing and output decisions of businesses

3.1.1 Local market
A. Some competitors of VASEP
Name

Year of establishment

Viet Cuong Seafood Company

2005

NHATRANG SEAFOODS CO

2004

Loc Viet Seafood Company

2007

ANVIFISH CO

2004

CAMIMEX CO

1977

B. Compare prices of VASEP with competitors:
Type of

Price of VASEP

Price of VCSC

Price of ANVIFISH CO

Seafood

(VND/kg)

(VND/kg)

(VND/kg)

20,000 to 23,000

25,500 to 32,000

25,000 to 35,000

150,000 to 240,000

200,000 to 300,000

190,000 to 270,000

Tuna

62,000

80,000

75,000

Red Snapper

75,000

70,000

70,000

Mackerel

130,000

145,000

140,000

Sea crap

325,000

320,000

320,000

Cuttle

210,000

220,000

235,000

Pangasius
Shrimp

Figure2. Table Seafood price in Vietnam

The VASEP prices are often lower than other competitors in the domestic, but
not much.

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C.
VASEP’s sales volume is very large, because the domestic market of Vietnam has
quite huge demand. However, their products do not monopoly, VASEP need to pay attention
to price and quality.
D. VASEP provides the local market wide varieties of seafood product.

Pangasius
Tuna

Fish

Red Snapper
Mackerel
White legs
Lobster

Shrimp

dried shrimp
Tiger prawn
Squid
Egg squid

Cuttle

cuttlefish
Fatty crab

Crab

Meaty crab

Jellyfish
The processed foods from seafood
Figure3. Types of seafood product of VASEP

E. Customers of VASEP are individual consumers and retail and wholesale
organizations. So, the number of customers of VASEP in the domestic market is very large
and diverse.
3.1.2 International market
A. Some competitors of VASEP
Name

Year of establishment

Country

Hansung Enterprise Co., Ltd

1963

South Korea

Feng Shun Xing Fishery Company

1994

TAIWAN

Nutriplus

1980

Portugal

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Kongphop Frozen Seafoods

2007

Thailand

East China Seas company

1980

China

Seablue Fisheries LLC

1990

United Arab Emirates

Urangan Fisheries LLC

1991

Australia

B.
Price of VASEP (USD/pound)

Type of

Price of Hansung Enterprise Co
(USD/pound)

Seafood
Red Snapper $4.75 to $ 4.85

$6.00 to $ 7.5

Shrimp

$16.7 to $16.95

$18.0 to $18.5

Pangasius

$1.6 to $1.8

$2.00 to $2.5

C. The sales volume of VASEP in the international market in 2011 (vasep.com.vn)
Market
EU
Germany
Italy
Netherlands
Spain
France
USA
Japan
Korea
China and Hong Kong
Hong Kong
ASEAN
Australia
Canada
Russia
Mexico
Other markets
Total

8/2011
(million USD)
126.175
20.233
15.448
15.893
18.117
14.671
124.768
104.770
52.202
32.806
12.155
32.994
18.150
13.408
9.092
7.422
92.666
614.451

9/2011
From 1/1 to30/9/2011
(million USD)
(million USD)
112,983
977,860
18,348
178,007
15,643
133,440
11,582
124,852
14,033
117,232
12,697
100,117
112,242
843,008
99,116
667,973
42,847
339,989
30,861
248,682
9,644
85,694
34,072
220,553
17,088
112,998
15,170
102,408
10,471
86,897
6,700
68,197
77,504
677,069
559.054
4345.635

D.
On the international market, VASEP offers many products, with the same amount of
diversity as the domestic market, however, focus on some key products such as: shrimp,
catfish, snapper, squid, crabs, etc.
E.
The customers of VASEP in the international market often are the organizations. But
in international scope, the number of customers is also very large has very large sales.

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Summary: When start business in international market, VASEP will meets
lots of difficulties from the competitor as well as following some leader in the global
market in setting price for their products. However, VASEP can gain lots of profit by
selling international due to the huge demand of the global markets. Therefore,
VASEP should have a good plan to penetrate into the international market.
3.2 Illustrate the way in which market forces shape organizational responses using a
range of examples
3.2.1 Bargaining Power of Buyer (High)
This refers to the choices as regards where buyers/customers shop for their
products and services. Buyers are the source of revenue and they have so many
options to switch to competitor any time. Customers of VASEP in local market is
mostly big supermarkets, retailers where seafood products are displayed and sold
to consumers such as Big-C, Metro, Co-op Mart, etc; or the products are directly
consumed to wholesalers and then delivered to consumers or restaurants. However,
VASEP mostly exports their products to businesses in international markets, such
as Japan, South Korea, the E.U, ASEAN, China, Hong Kong, and the US.
This large market force requires VASEP to make sure the safety and hygiene
as well as the quality of products sold in the market and VASEP has done it quite
good. Evidence for this is: “Mr. Struan, an EU MPs have almost been "conquered"
by strict management system of food safety and quality seafood from Vietnam”
(Vasep.com.vn, 2011).
3.2.2 Bargaining Power of Suppliers (Low)
VASEP mainly receives its raw material from fishermen and fish farmers in
the fisheries sector in Vietnam. However, due to the lack of fish in the domestic
market recently, VASEP has to import raw materials from abroad, such as Korea,
China, India, Thailand, etc.
Because imports require huge financial resources and should be more
investment in infrastructure such as cold storage or production line, VASEP is
looking for solutions to address this problem by promoting domestic production
by requiring the government to encourage fishermen or build good relationships
with foreign firms.
Example: “Last time, the State has implemented many policies to "assistance"
to stick fishermen at sea. However, besides the results, fishers still face many
difficulties” (Anh Ngoc, Phu Yen News, 2012)
3.2.3 Competitive rivalry (High)
This refers to the intensity of competition among existing firms in an
industry. Due to the increase in demand, the rivalry is more intense. VASEP
always take care about their competitors offers which are great challenge against
competitor. They always try to sell cheaper than their competitor. VASEP strive
for a competitive advantage over their rivals. Example: Korea market is a potential
market for almost all enterprises, so as to Vietnam. they needs to find out the taste
or demand of Korean customers regularly and investigate the competitors about
the price, the quality, technologies, etc; in order to provide the best product with
suitable price for Korean customers.
Evidence for this is: “According to VASEP, price dried squid HS 030 749 in Vietnam
are higher at best and 2-5 USD / kg compared to China, Indonesia, ranging from 20 - 30
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USD / kg. However, Korean consumers are still long-term partnership and strong
Vietnamese seafood enterprises due to food hygiene and safety quality and taste of the
product” (Vasep.com.vn, 2011)
3.2.4 Threats of New Entrants (High)
It is not only incumbent rivals that pose a threat to firm in an industry i.e. the
possibility that new competitor/ firms may enter the industry also effect competition.
Currently, many enterprises want to entry the seafood industry. This can threaten
for VASEP, which are operating in this market.
Example, nowadays, Japan is the biggest market that import shrimp from
Vietnam. Besides, this is potential market for enterprises because the high demand
for using shrimp of Japanese. Hence, having new entrant is unavoidable. In terms
of Japan market, Vietnam is not new entrant. Moreover, Vietnam enterprises like
VASEP are veteran partners with Japan and based on “In 2011, Japan is still the
leading shrimp import market of Vietnam, accounting for 25.3% share of value,
reaching $ 607 million” (mdec.vn, 2012); we can see that Vietnam enterprises have
already built good brand and the loyalty of Japanese for their products. These are
competitive advantages which VASEP should pay attention.

3.2.5 Threat of Substitutes (High)
Substitutes are products that can be used interchangeably or in place of one
another. For example, people will eat China mackerel instead of Pangasius of
Vietnam. The threat of substitute typically affects to VASEP through price
competition, and it is high when buyers are able and willing to change their buying
habits.
It is unavoidable that almost all products will have its substitute products, so
as VASEP. As mentioned in the market structure above, seafood industry has a lot
of sellers so the competition in this market will be high. Any enterprise wants to exist
and develop in this market, they have to create the competitive advantages in
comparison with other enterprise to attract the customers and build the loyalty of
customers to their brand because any enterprise must depend on the willingness to
buy of customers based on the price, taste, quality, etc of product, so as VASEP.
The substitute products can be from many countries such as Vietnam or Thailand,
China, etc.
3.2.6 Marketing Mix
Product

Price

Place

Promotion

In order to create the difference about the quality of product,
especially the safety, VASEP has to use modern technologies to
monitor the manufacturing process, regularly check the quality and
ensure the origin of raw materials which the company uses.
VASEP have to calculate the costs carefully and investigate the
price level which the customer is willing to pay. Besides that,
VASEP should care about the price of competitors to give the most
suitable price to the customers.
The place element deals with how the product is distributed.
VASEP needs to build the distribution areas which are clean,
ensure environmental sanitation and create the satisfaction and
comfort for customers when buy products.
Through the means of communications such as newspapers,
television, internet and so on, companies of VASEP needs to

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provide enough information about the company and their products.
Besides that, VASEP should emphasize the manufacturing
process, using up-to-date technology and certifications about food
hygiene, etc in order to build the belief of customer and affirm the
safety of products. Moreover, the company needs to show that it
follows all regulations of Vietnamese government and the country
which VASEP export.
Summary: In general, when going international, VASEP has used market
segmentation, marketing mix and competitive strategy to get a effective business.
VASEP should improve the plans to gain more customers and profit in such a big
market and become the leaders in the industry.
3.3: Judge how the business and cultural environments shape the behaviour of a
selected organization
3.3.1 Form of anti- competitive behavior.
A. Prices fixing cartel (No)
To avoid price pressed small farm, Government has launched a number of
policies on prices causing VAEP must follow its. The administrative management in
fisheries sector, MARD has issued two sets of national standards along with the
Circular No 82/2009/TTBNN&PTNT on hygiene and food safety in seafood
production. This is also the regulations which all enterprises have to follow.
B. Collusion and cartel (No)
According to information in outcome 3.1, the international market is a perfect
competition. Therefore, that is really difficult to have collusion and cartel in this
market. VASEP must has to obey the law of the country which they export their
seafood as well as the quality standard, price of this country.
C. Vertical restraint (No)
In the international market, VASEP planning lots of ways to increase the
competitiveness with its rivals. So, VASEP should control the prices of the products
and the rights of themselves when negotiating with any organizations. Therefore,
they can save a huge amount of money to invest in marketing or produce activities.
D. Insider dealing (No)
When exporting seafood products to global market, VASEP always follows the
rules of the targeted country or international standards, especially avoid with anticounterfeiting, and other illegal activities.
E. Predatory prices (No)
In the international market, there are some policies to prevent predatory
prices. Therefore, it is impossible for VASEP or any other companies to sell seafood
at a too low price.
3.3.2. VASEP behavior
A. Objective: According to "Vasep.com.vn":
 Coordinate the activities of seafood companies and encourage
fishermen.

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 Improve the value, quality and competitiveness of Vietnamese seafood
products in international market.
 Investment and developed technologies to processing and export
seafood.
 Represent and protect the lawful and legitimate of members’ interest.
B. Investment:
VASEP has existed and developed in Vietnam for a long time. Standing stably
on the Vietnamese market, many companies and individuals have invested on
some VASEP project especially "The US’ National Fisheries Institute (NFI) and
VASEP are putting focus on blue swimming crab ishery improvement" (vietfish.org,
2012)
C. Risk:
When VASEP export their product into international market, the prices of
VASEP is pressured by bigger competitors. VASEP in 2013 will also face
challenges from international market as what they encountered in 2012 that is the
problem: export to the United States being subjected to two types of sale tax
dumping and subsidies.
Summary: VASEP should maintain their positions and improve their quality in
the international market by choosing the targets products along with implementing a
good business strategy to adapt with the conditions of different countries by focus on
the quality of the products and obey the law of the targeted market.
4.1. Discuss the significance of international trade to UK business organizations
4.1.1. The importance of international trade
In this globalizing era, international trade is an indispensable trend. According
to the course book, international trade is defining as “the exchange of goods and
services between countries. An import is a country purchase of a good or service
made of overseas, an export is the sale of that country – made good or service
overseas”. (BPP Professional Education, 2010)
For VASEP, exporting to overseas markets can be attractive for a number of
reasons:
 Reduced dependence on domestic market, increased chances of
success, increased efficiency, increased productivity, Economic
advantage, innovation, and growth. (YILDIZGOREN, 2012)
 Increase profit: International trade can bring back more benefit than
domestic trade. With the same seafood, if it is exported to Japan, USA
or EU, the consumers there would accept to buy it at a higher price.
 Closer ties between nations: Example like Vietnam and Japan.
 Increase in employment locally.
 More variety of goods available for consumers.
 Innovation opportunities: by entering in the global market, they can
develop their products thanks to the higher demands of the
customers outside Vietnam as well as through the feedback of the
targeted markets in the overseas countries.

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4.1.2 International competitiveness
o Absolute advantage: A country has an absolute advantage in the
production of a good if it can produce more of the good with a fixed amount of
resources than can any other country (BPP, BE, 2010). In Vietnam advantages
of aquaculture is very large because of the large sea area and sea which is
why VASEP has a long fishing resources to produce and Viet Nam has a large
amount of labor and cheaper than other countries.
o Comparative advantage: Comparative advantage is the advantage in
the production of a product enjoyed by one country over another when that
product can be produced at a lower opportunity cost (BPP, BE, 2010).
Example: VASEP has many advantages in the production and processing of
Pangasius. According to vasep.com.vn, the numbers of exported Pangasius is
much higher than squid. Therefore, pangasius can bring more
comparative advantages for VASEP so they should only focus on exporting
Pangasius.

Summary: Export to international market will bring to VASEP lots of profitable
and opportunities, so they should capture given the reasonable production policies to
achieve the business benefits and increased competitiveness.
4.2 Analyze the impact of global factors on UK business organizations
4.2.1. Political
According to "ukimports.org" (2012), whenever a product from outside
imported to the UK for individual or commercial uses all have to pay tax and duty
which is up to 20% depends on the kind of goods.
Impact on VASEP: The tax that the government of UK put for the products
affects VASEP when the firm set prices for this market. Due to the tax rate, the
output price of VASEP must increase to ensure profit, for example: the price of
shrimp sold in Vietnam very cheap, only is 130.000-145.000/1kg price in the UK is £
6.23 / pound.
4.2.2. Economical
According to BBC News (2012), The Office for National Statistics (ONS) said
the rate of Consumer Prices Index (CPI) inflation rose to 2.7% in October, up from
2.2% the month before. Price increase greatly, especially food prices.
Impact on VASEP: Therefore, it could be an advantage for VASEP in some
aspects. In pricing aspect, importers seem to get more profit by increasing the
prices. However, VASEP has to pay more taxes when their products imported
products into UK.
4.2.3. Social issues
According to “gov.uk”, in UK, Income tax rate is about 50% with people have
incomes over $ 234,484. This number will only be applied to the end of the year
before the adjustment to 45%. For those earning less than $ 14,300 will be exempt
from tax.
Impact on VASEP: These numbers pointed out that living standard in UK is
affects much by income tax. It’s a difficulty for VASEP to set a high price, so, VASEP
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should set an affordable price for customers otherwise they will lose them and
cannot get profits.
4.2.4. Technological
According to “seafoodtechnology.co.uk”, UK is an economically developed
country; their technology is also at a higher level than Vietnam. Especially the
products they created to exploit and aquaculture as: Fish Handling Systems Both for
Onboard and On Shore, Skinning Solutions, Pin Bone Removal Solutions, etc.
Impact on VASEP: they will have opportunities to get the technology
transfer form partner of purchase. From that VASEP can be applied in aquaculture
fisheries, preservation, processing in Vietnam and increase productivity and quality
to increase profits.
4.2.5. Environment protection
According to "mcsuk.org" (2012), the UK government has set lots of policy to
protect the environment and hygiene and safety of foods. There are laws that
release to protect marine wildlife and beaches clean, ensure fish stocks. Moreover,
the imported products like seafood when entering in the UK is checked very careful
for identifying any kind of harmful chemicals.
Impact on VASEP: when exporting to UK, they is required to ensure the
supply of quality as well as reserves and a fishery, which makes VASEP have to pay
more attention to environmental protection aquaculture.
4.2.6. Legal factors
According to “britishlaw.org.uk”: Areas for consideration under contract law
include formation of contract (offer, acceptance, consideration, intention, etc.),
capacity to form contract, contents (terms, exclusions, privity), vitiating factors
(misrepresentation, mistake, duress, illegality, etc.), discharge (performance
agreement, breach, frustration), and remedies (damages, performance, injunction,
etc). Contract law is normally dealt with by specialist lawyers or legal executives.
Impact on VASEP: when exporting to UK, they need to follow the rules in the
contract and subject to that force when signed.
Summary: By analyzing the impact of global factors on UK market, VASEP
can know in advance which they have to confront the difficulties and challenges and
make the right decision to trading more effective.
4.3. Evaluate the impact of policies of the European Union on UK business organization
4.3.1. European Monetary System (EMS)
European and Monetary System (EMS) were succeeded by the European
Monetary Union (EMU), an institution of the European Union (EU). The European
Monetary System originated in an attempt to stabilize inflation and stop large
exchange-rate fluctuations between European countries. Then, in June 1998, the
European Central Bank was established and, in January 1999, a unified currency,
the euro, was born and came to be used by most EU member countries. Up to now,
17 above 27 countries in the EU Member States take part in the monetary system.

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Impact on VASEP: This system affect directly to VASEP in the case of
exchange the value of VND to Euro. This exchange rate is very important because
the profit that VASEP can gain from this market is very big.
4.3.2. Common Agriculture Policy (CAP)
The CAP was created in 1957 under the Treaty of Rome and started
operating in 1962. This policy Open up to support the production activities of
farmers. In 1992, the law about The Shellfish and Specified Fish (Third Country
Imports) No. 3301 released by The Minister of Agriculture, Fisheries and Food to
control all the importing to EU. This policy is about “Imported into Great Britain from
a third country any shellfish or specified fish except under the authority, and in
accordance with the provisions, of a license issued by the appropriate Minister”.
Impact on VASEP: They should obey that law and needs to have the
permission of the Minister to enter in the market, otherwise they will be stopped from
their business and lose lots of profit.
4.3.3. Social Welfare
According to “welfare.ie”; “the regulation S.I. No. 731 of 2011 provide for the
continuation of the operation of the Employer Job (PRSI) Incentive Scheme during
2011. Employers who take on additional employees during 2011 are exempted from
having to pay the employer's portion of PRSI contributions in respect of the earnings
paid to such an additional employee for a period of 12 months from the date of
approval of their application”.
Impact on VASEP: This facilitates the VASEP’s employees working in EU
salary equal to the salary of local employees. Which may affects the business plan of
VASEP if they want to save more money to invest in any other activities.
4.3.4. Regional policy
Council Regulation No (EC) 1083/2006 laying down general provisions on
the European Regional Development Fund, the European Social Fund and the
Cohesion Fund and repealing Regulation (EC) No 1260/1999 (eufinantare.info,
2006). This policy set a common standard for all the members of Europe Unions to
justify the management of finance problems.
Impact on VASEP: This will make VASEP easy to export to EU countries
because this system is used by all EU member states and clear common standard
between every country.

BE A2 2012-2013 HVNH

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Red

Summary: By research about the European Monetary System, the Common
Agriculture Policy, The social welfare, Regional policy VASEP can get lots of
advantages to develop their business performance in the global market especially in
the Euro and the UK.

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Red

Conclusion
In conclusion, in this report, through investigating and analyzing in details
about the behavior and market environment of VASEP, and exploring the
significance of international trade and the European dimension, we can see that
VASEP is more and more developing and become one of the Vietnam’s top seafood
producers and exporters. With understanding clearly about the market structure not
only in the regional but also the worldwide market and having competitive strategies
suitably, in the future, this corporation will become more famous in the worldwide
markets, contributing to improve the development of Vietnam economy.

BE A2 2012-2013 HVNH

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Red

References
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Mỹ. [online] Available at: http://www.vasep.com.vn/Tin-Tuc/59_18711/Ca-nguBE A2 2012-2013 HVNH

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Trung-Quoc-canh-tranh-voi-ca-ngu-Viet-Nam-tren-thi-truong-My.htm [Accessed: 11
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BE A2 2012-2013 HVNH

21

Red