Vietnam now rivals Brazil in coffee production. The country is currently the world’s leading exporter of robusta coffee, earning US$3.62 billion from coffee exports in 2014. However, coffee crops in Vietnam are now at their lowest levels in many years.
The Department Deputy Head, Hoang Thi Lan Anh, of Vietnam’s General Department of Taxation Reform has confirmed the government’s commitment to reduce the time spent paying taxes and social insurance in Vietnam to the ASEAN average of 171 hours by the end of 2015.
Once an investor has set up their trading company within Vietnam, it is important that their workers gain a strong understanding of the country’s import and export regulations and procedures.
As Vietnam’s consumer market continues to grow, more and more global products are pouring into the country. Among those products that have seen considerable growth in sales over the recent years, has been wine. Starting from a very low level, the Vietnamese wine market has exploded, with hotels, restaurants, and retailers now offering a wide variety of wines from around the world.
Vietnam’s Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam came into effect on January 1, 2015, doubling the number of visa categories to 20. Of particular note, foreigners are no longer permitted to change their visa category once inside Vietnam. Therefore, the option of arriving on a tourist visa, applying for a work permit and changing visa categories is no longer available.