by Joyce Roque
Mar. 11 – Foreign investment into the region’s new Asian tiger has been steady despite setbacks from the financial crisis that severely depressed exports that contribute 70 percent to Vietnam’s gross domestic product.
Foreign investors tend to gravitate towards investing in Vietnam as a hedge on their operations in China, a China plus one strategy that follows the advice of not putting all your eggs in one basket. Read the rest of this entry »
Mar. 10 – Northern Thai Nguyen Province is being groomed to become a major metallurgy, mechanical manufacturing and precision engineering hub in the country.
Thai Nguyen is a small province bordering the capital city of Hanoi and serves as a gateway to the Red River delta with its network of road, rail and waterways systems. “Vietnam’s mechanical engineering remains undeveloped and that is why we should mobilize domestic and international resources to make metallurgy a vital industry for Thai Nguyen and the nation,” President Nguyen Minh Triet said during a visit to the province this week. Read the rest of this entry »
Mar. 9 – Letter 451/TCT-TNCN issued by the General Department of Taxes last month shed light on several tax issues associated with finalizing personal income tax for 2009.
The new issues highlighted in the letter include the following:
Mar. 9 – The government may soon simplify 256 administrative formalities after a review showed that it could cut costs by more than over VND6,000 billion annually or about US$312 million.
Project 30 studied administrative formalities in 2007-2010 in consultation with related ministries, agencies and the Administrative Reform Consultative Council. It recommends simplifying procedures to attract more business and save costs. Read the rest of this entry »
Mar. 8 – Ho Chih Minh city has so far approved investment licenses to 39 new foreign direct investment projects worth an estimated US$333.4 million.
Vietnam’s financial capital wants to attract more investment into mechanics, engineering, bio-technology, IT and new materials projects. Majority of the 29 approved licensed projects last month were located outside the export processing and industrial zones while the rest were found in the Thu Thiem and South Saigon area. Read the rest of this entry »
by Joyce Roque
HANOI, Mar. 5 – As the government prepares to celebrate Hanoi’s 1,000 year anniversary in October, plans to slowly expand the capital city have already begun since 2008.
Hanoi’s limits will stretch to include adjacent provinces to make more space for national projects in the capital city. The expansion has already absorbed the provinces of Hatay, Hoa Binh or Vinh Phuc; making the old Hanoi with its crawling French colonial architecture the center of the new expanded city. Read the rest of this entry »
Mar. 4 – The Ministry of Industry and Trade plans to limit car imports by implementing regulations that would help cut down its trade deficit.
The new restrictions will affect the importation of cars with less than 16 seats which make up majority of total cars imported from abroad and require that they pass quality tests by the authorities. Cars imported to the country will only be allowed to enter via the major seaports of Cai Lan, Quang Ninh, Haiphong, Danang, Ho Chi Minh City and Ba Ria-Vung Tau. Read the rest of this entry »
Mar. 3 – Companies in Vietnam have the highest expectations to see profit growth in 2010, according to consulting firm Grant Thornton’s most recent International Business Report.
Of the 150 companies surveyed in the report, 92 percent expected to see profits grow in the next year. The report, an annual survey of 7,400 medium-to-large company executives in 36 markets around the world, also ranked Vietnam first in employment after its 54 percent increase in hiring during 2009. Read the rest of this entry »
Mar. 3 – The European Union and Vietnam have announced that they will formally be opening free-trade negotiations as Europe continues to strengthen their economic ties with a rapidly-growing Vietnam.
The free-trade announcement comes following a meeting between EU Trade Commissioner Karel De Gucht and Vietnamese Prime Minister Nguyen Tan Dung in Hanoi on Tuesday. Read the rest of this entry »
Feb. 26 – Vietnam’s southern province of Ba Ria-Vung Tau has approved 15 projects worth US$125.03 million including five foreign direct investment projects amounting to US$924.9 million since the beginning of this year.
Some of the major projects involve the Dragon Sea-Vung Tau international tourism exhibition center, a project of the Skybridge Dragon Sea Ltd Co. and the Sao Bien international port to be built by the M/s Koon-Top Pave Joint Venture. Read the rest of this entry »
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
