Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30.
The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to VND860,000 per flight following the routes below: Continue reading
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. Continue reading
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. Continue reading
Jun. 30 – The biggest casino in the country has been ordered to shut down due to permit violations.
Located in Danang, the casino is a joint-venture between U.S.-based Silver Shores and Hoang Dat of Hanoi. Hoang Dat Silver Shores International Entertainment Co. will only be allowed to reopen the casino and hotel complex after it complies to regulations. Continue reading
Apr. 27 – Vietnam will waive visa fees for foreign visitors to the country from August to September as part of the “Impressive Vietnam Grand Sale 2010” campaign.
Foreign tourists can claim a refund of value added tax when they buy goods during the two month program. Tourist-related businesses in Hanoi, Danang, and Ho Chi Minh City will also offer 10 to 40 percent discount for local and foreign tourists during the campaign.
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. Continue reading
Feb. 1 – The Vietnam Chamber of Commerce and Industry and the U.S. Agency for International Development’s Vietnam Competitiveness Initiative have recently released a report ranking the competitiveness of each province in the country in 2009.
The index is useful for investors looking at entering Vietnam because it gives a comprehensive look of the country’s 63 provinces and more importantly gets into the details of why certain provinces have better economic growth than others. Continue reading
Jan. 15 – Danang topped the Vietnam Chamber of Commerce and Industry’s 2009 provincial competitiveness index (PCI) ranking followed by Binh Duong Province in the south.
This is the second consecutive year that Danang finished first place in the index. Vietnam’s northeast Lao Cai Province ranked higher than Vinh Phuc Province to be included in the top three localities with favorable business conditions. Continue reading
Dec. 18 – Cambodia and Vietnam have agreed to a treaty that will open Mekong waterways to increases trade and tourism.
The Treaty on Waterway Transportation legally binds Cambodia and Vietnam to reducing the official restrictions that have existed for cross-border navigation, according to the the Mekong River Commission. Continue reading
Dec. 9 – The central coast city of Danang’s tourism property segment is emerging said real estate company Savills Vietnam.
Savills said that projects for villas are emerging quickly in the area with developments along the Son Tra-Dien Ngoc coastal road from Danang to Hoi An to be finished in a few years time. 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
