Written in Vietnam and read by professionals
in over 160 countries worldwide



Sunday, February 5, 2012




Vietnam Briefing is a magazine and daily news service about doing business in Vietnam. We cover topics relating to the Vietnamese economy, the market in Vietnam, foreign direct investment and Vietnamese law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates



HO CHI MINH STOCK INDEX (VNINDEX:IND)


HO CHI MINH STOCK INDEX

Featured Vietnam Briefing News

Latest Vietnam Briefing News

New Issue of Vietnam Briefing: 100% FOEs, JVs and the Promotion of Supporting Industries

Jan. 17 – The new issue of Vietnam Briefing Magazine, titled 100% FOEs, JVs and the Promotion of Supporting Industries, is out now and is immediately available as a complimentary PDF download on the Asia Briefing Bookstore.

For investors looking to make forays into Vietnam, choosing between a wholly foreign-owned enterprise (100 percent FOE) and a joint venture (JV) can have significant implications, as both have their pros and cons and the permissible establishment details (such as percent of foreign capital contributions) for each vary by sector.

As 2012 will be a year of significant change in limitations on foreign ownership regulations for 100 percent FOEs and JVs, this issue offers a clear snapshot of up-to-date regulations and specific changes to expect in 2012, as well as a useful summary of tax incentives and exemptions. Also, a roadmap and timeline for licensing procedures take the guesswork out of this initial step in establishing a business in Vietnam. Continue Reading


Exporters Urged to Increase Focus on Germany

Dec. 29 – There is still much potential in the German market for Vietnamese exporters to explore, said participants in a conference held in Ho Chi Minh City on Tuesday.

While Germany has grown into one of Vietnam’s major trading partners since 2007, the current export volume to the European country is still modest compared to the volume of export to China, Thailand and India, noted Do Thang Hai, director of the Trade Promotion Agency at the Ministry of Industry and Trade (MIT). Continue Reading


Businesses in Hanoi Asked to Pay VND4 Trillion in Tax Due

Dec. 29 – Businesses in Hanoi still owe more than VND4 trillion in taxes this year, and the government has urged them to pay it back.

Thai Dung Tien, deputy head of Hanoi Tax Department, said that around 86.5 percent of the taxes (VND3.5 trillion) is collectable. However, 3 percent of the money will prove difficult to collect and the status of the remaining 10.5 percent is unclear. Continue Reading


Business Registration Set to be Streamlined in Mid-2012

Dec. 20 – The Ministry of Planning and Investment (MPI) of Vietnam has recently drafted a circular pertaining to an online registration initiative for start-up businesses that aim to streamline the establishment process.

According to the draft circular, the Business Registration Management Agency will be responsible for the portal www.dangkykinhdoanh.gov.vn, which provides online registration and other basic registration services for managing national business registrations. To avoid confusion, all other websites launched by businesses or organizations for the same purpose will be blacklisted. Continue Reading


Vietnam Briefing Now Accessible in Mobile App

Free App Brings Vietnam Briefing to Your Fingertips

Dec. 16 – The brand new Asia Briefing mobile application brings the latest business news and foreign investment insights from Vietnam Briefing web site right to your fingertips.

The free app integrates with legal and tax regulatory updates from Dezan Shira & Associates, along with China, India, Russia, Mongolia Briefings, and 2point6billon.com (for emerging Asia). With hourly updates, it helps you stay on top of Asia’s dynamic investment environments. Continue Reading


Vietnam’s Bank Restructuring a Big Opportunity for Foreign Investors

By Lorenzo Martelli

Dec. 14 – Increases in the ownership ratios that foreign strategic partners can hold at Vietnamese joint stock banks, encouragement for the merger of weak banks, and not increasing the chartered capital are the main points of the European Chamber of Commerce (EuroCham)’s proposal when talking about bank restructuring.

Decree No. 69/2007/ND-CP enacted by the Prime Minister in 2007 decided to allow a strategic foreign investor to purchase from between 15 percent to 20 percent stake in a domestic bank, which, however, must not exceed 30 percent of the chartered capital of that bank. Continue Reading


Vietnam Drawing Increasing Interest from Italian Investors

Dec. 8 – Trade and investment between Italy and Vietnam has increased steadily over the last 10 years. According to statistics issued by the Government of Vietnam, Italian FDI projects amounted to US$187 million in 39 projects at the end of 2010. The manufacturing industry still has the biggest share amid Italian FDI, even though other sectors are increasingly showing their interest in the market.

In the wake of a recent successful business mission by 24 Tuscan wineries to Vietnam at the beginning of November, Damiano Francovigh, head of the Economics and Commercial Section of the Italian embassy in Vietnam, shares his vision of the potential cooperation between the two countries. Continue Reading


Lower Rent for Manufacturers and Environmental Tax Exemptions

By Lorenzo Martelli

Manufacturers benefit from lower rent
Dec. 7 – On November 23, the Vietnamese Government issued Decision No. 2093/QD-TTg to reduce businesses’ land use rental costs for 2011 and 2012. A 50 percent reduction in rentals for leased land will be enjoyed by firms conducting manufacturing businesses. According to calculations, under Decree No. 121/2010/ND-CP, the rental fee is paid annually. However, reductions can be applied under some circumstances only. The land rent charge is reduced when such entities:

  • Have the proper and lawful use of the leased land;
  • Have been subject to statutory increases in land rent charges at least twice in 2010. Continue Reading

World Bank Forecasts 6% Growth for Vietnam in 2012

Nov. 29 – According to the report East Asia and Pacific Economic Update released by the World Bank on November 21, Vietnam’s gross domestic product (GDP) will increase 6.1 percent next year. The recent forecast confirms Prime Minister Nguyen Tan Dung’s expectations of 6 percent to 6.5 percent growth for 2012, which he announced at the opening session of a biannual meeting of the National Assembly last month.

GDP growth for the first six months of 2011 was 5.6 percent, and it is expected to grow to around 5.8 percent by the end of the year. The forecasted 6.1 percent growth rate for 2012 seems to bear out a new increasing trend that was previously curbed during the 2007-2009 Global Financial Crisis. Continue Reading


Vietnam to Cut Income Tax By 30% for Small Business

By Lorenzo Martelli

Nov. 16 – On November 4, 2011 the government enacted Decree 101/2011/ND-CP presenting tax incentives to help enterprises and individuals survive in the current high level of inflation in Vietnam.

According to Decree 101, corporate income tax payable by small-and-medium-sized enterprises will decline by 30 percent this year. Firms in line for tax reductions include those operating in the forestry, agricultural, textile, fisheries, leather, garment, footwear and electronic part production sectors and those contributing to socio-economic development. Continue Reading





Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at vietnam@dezshira.com, download our corporate brochure or visit at us www.dezshira.com


Dezan Shira & Associates, Twenty years of Excellence

The Asia Briefing Bookstore

Our best selling legal, financial, tax and regional guides to Asia business, industry reports and more…
Click here to view all titles now

China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store China Briefing Book Store

NOW AVAILABLE IN PDF



SEO Powered by Platinum SEO from Techblissonline