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. 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. 9 – Quang Ngai Province authorities in south central Vietnam are proposing plans to expand the Dung Quat Economic Zone into an industrial city by 2025.
There are plans to develop the economic zone from 10,300 hectares to 45,332 hectares; adding heavy industrial production facilities for the petroleum and chemical business in addition to resorts, deep-water seaports and other urban areas. Read the rest of this entry »
Aug. 4 – In this issue of Vietnam Briefing, we look at the process of establishing representative offices in Vietnam. As the second best performing economy in the region this year, many foreign investors are now considering building a presence in Vietnam to take advantage of the robust growth. A representative office is the simplest way to do so initially as a company tests the viability of the Vietnamese market.
We also cover related topics that include comparing representative offices with branch and wholly foreign-owned enterprises to determine which type is the most suited for your company; obtaining a foreign work permit in Vietnam; and regulations on applying as a foreign contractor. Read the rest of this entry »
Aug. 3 – Electronic customs declaration and clearance is now available for trade passing by the Lao Cai border gate beginning August 1.
The province is the eleventh one to adopt the process for trading goods.This will make it easier for companies selling goods to China via the Lao Cai border to easily declare customs procedures and have the option to pay fees on a monthly or per customs declaration form basis.
Lao Cai Province’s main economic activities include agriculture and forestry. It is trying to attract more foreign direct investment in the area while developing cross-border trade with China and ecotourism. Read the rest of this entry »
Jul. 30 – Foreign investment in Vietnam’s financial capital was up by 14.8 percent to US$1.19 billion during the first seven months of the year.
Ho Chi Minh City’s economy seems to have recovered with retail sales of goods and service posting high returns at VND205 trillion, an increase of 32.1 percent from the previous year.
Tourism also seems to be doing well. The city has so far received more than 1.6 million tourists, a growth of 24.3 percent. Industrial production increased by 13.6 percent and budget revenue by 23.3 percent. Read the rest of this entry »
Jul. 26 – The major port city of Danang in central Vietnam has so far lured in US$2.8 billion worth of foreign direct investment.
A majority of the investments were poured into 29 realty projects comprising of up to 73 percent of the city’s total FDI. Danang’s largest foreign investor was the British Virgin Islands followed by South Korea, the United States, Hong Kong and Japan. Read the rest of this entry »
Dezan Shira & Associates offices in Hanoi: L-R: Tran Minh Thu, Hoang Thu Huyen and Hoang Bich Lien
HANOI, Jul. 26 – Dezan Shira & Associates is hiring more legal and tax staff in Vietnam, according to the firm’s principal, Chris Devonshire-Ellis.
“Vietnam is recovering quickly from the fall off in FDI it experienced due to the global downturn, and this, coupled with a change in the economic dynamics in China is spearheading a new wave of investment in the country,” says Devonshire-Ellis. “We are adding to our personnel in both Hanoi and Saigon to cater for this demand.”
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Jul. 23 – Economic and industrial zones investments in Ho Chi Minh City rose by 176 percent during the first half of the year reaching US$320 million.
More than 70 percent of investments made in the zones, approximately US$225 million, came from local investments. Companies located in the zones reported a total export turnover worth US$1.6 billion, an estimated 34 percent increase compared to the previous year. Read the rest of this entry »
Jul. 21 – Vietnam’s new Commercial Arbitration Law, set to take effect from January 1, 2011, is expected to help local and foreign businesses resolve disputes quicker outside of the court of law.
The new law was approved on June 17, 2010 by the National Assembly and will provide an important legal foundation for businesses to minimize the risks of disputes, said the head of the Viet Nam Chamber of Commerce and Industry’s legal department, Tran Huu Huynh, during a press conference in Hanoi yesterday. Read the rest of this entry »
