Sept. 2 – Expatriate employees leaving the country must finalize their personal income tax requirements within 45 days after the termination of their work contracts in Vietnam according to Circular 60/2007/TT-BTC.
Failure to finalize tax requirements will be subject to the following penalties: Read the rest of this entry »
Sept. 1 – The country’s largest container seaport, Tan Cang-Cai Mep, will open its second phase later this year; allowing it to receive ships with a loading capacity of up to 110,000 tons.
The port is located in Ba Ria-Vung Province in southern Vietnam. Its second phase expansion spanning 40 hectares will include two new wharves with a total length of 600 meters and a container warehouse. Read the rest of this entry »
Aug. 31 – Vietnam is the second largest beer market in the Southeast Asian region with 1.6 billion liters consumed last year after Cambodia.
The market is forecast to expand by 5.6 percent in the following years trailing behind Laos and Cambodia, reports market research company Euromonitor International.
As an indication of the country’s investment potential, Hanoi Beer Alcohol and Beverage Joint Stock Corp. inaugurated one of the largest modern beer breweries in the region, the Hanoi-Me Linh Brewery in Tien Phong Commune, Me Linh Dist in Hanoi this month. Read the rest of this entry »
Aug. 30 – Vietnam and Mongolia have agreed to cooperate to increase bilateral trade to US$12 million by 2012.
The agreement was signed during the Mongolia-Vietnam Inter-governmental Committee on Economic, Trade and Scientific-Technological Cooperation held in the Mongolian capital, Ulan Bator. Read the rest of this entry »
Aug. 27 – An estimated US$2.4 billion in registered foreign direct investment entered Vietnam for the month of August, according to the Foreign Investment Department.
The FDI capital for August is US$850 million higher compared to investments made in July. In total, foreign direct investment capital for registered projects reached US$7.25 billion for the first eight months of the year. Read the rest of this entry »
Aug. 26 – Vietnam is seeking foreign investment partners to upgrade Phu Bai Airport in Thua Thien-Hue Province in central Vietnam by 2020.
Authorities want the airport to be up to international standards with the capacity to cater to five million passengers. Currently, the airport can only serve 500,000 passengers annually. Read the rest of this entry »
Aug. 25 – Vietnam’s Ministry of Industry and Trade and the Ministry of Information and Communications encouraged the use of digital signatures for government agencies and companies during a workshop held in Ho Chi Minh City on Tuesday.
The use of digital signature will pave the way for the development of electronic commerce in the country. “One of the solutions to ensure data security in e-transactions is the use of digital signatures,” said Tran Huu Linh, deputy head of the Department of Commerce and Information and Technology. Read the rest of this entry »
Aug. 24 – Vietnam has established the Large Enterprise Tax Management Department to specifically cater to the tax issues and payment needs of major corporations.
This move will ease the tax process for about 405 large corporations operating in the country. The majority of these types of firms are state-owned and have stakes in top industries such as oil and gas, electricity, mining, post and telecommunications and banking. Read the rest of this entry »
Aug. 23 – Vietnam’s first trade policy review (TPR) is set for 2012 following the requirements of its membership in the World Trade Organization.
The Ministry of Industry and Trade announced the schedule of the TPR during a seminar held in Hanoi on August 12. WTO members are all required to conduct regular TPRs and this will be a chance for Vietnam to evaluate the benefits of its membership since joining the WTO in 2007. Read the rest of this entry »
Aug. 20 – Following Government Decree 87/2010/ND-CP, Vietnam will exempt export and import express packages from tax beginning October 1.
The decree will also waive tax on imported raw materials or appliances for specific investment sectors or those not made in the country five years after production date. Read the rest of this entry »
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