Hanoi

Regional Spotlight: Red River Delta (Hanoi)

Hanoi May 7 – The Red River Delta constitutes the industrial heart of Vietnam and is one of the richest and most developed regions in the country.

Hanoi, Vietnam’s capital city, dominates in terms of foreign investment and gross industrial output. It is also home to many manufacturing plants for big international names like GM, Nokia and Yamaha. The industrial parks and economic zones in the region are strengthened by their “corridor to the sea” via the Hai Phong Port, one of Vietnam’s largest ports. Continue reading →

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Upcoming Vietnam Trade Fairs and Exhibitions

Oct. 30 – The coming month in Vietnam will bring in a fresh set of trade fairs, shows, expos, and exhibitions to try and satiate the growing demand for new business in the country. A sampling of November’s key events can be found below.

Vietnam International Shop and Franchise Show 2012

When: November 1-3, 2012
Where: Saigon Exhibition and Convention Center, 799 Nguyen Van Linh, District 7, Ho Chi Minh City, Vietnam
Organizer: Vinexad Continue reading →

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Vietnam’s Regions and Key Economic Zones

By Samantha Jones and Julia Gu

May 29 – Vietnam is composed of 63 provinces and five centrally-governed cities, which stand on the same administrative level as provinces (namely Hanoi, Ho Chi Minh City, Can Tho, Da Nang and Hai Phong). The General Statistics Office of Vietnam further groups these provinces and cities into eight regions, listed below:

Southeast
Red River Delta
Mekong River Delta
Northeast
Northwest
North Central Coast
South Central Coast
Central Highlands Continue reading →

Posted in Business, Danang, Economy and Politics, FDI and Foreign Trade, Featured, Haiphong, Hanoi, Ho Chi Minh City | Tagged Central Highlands Vietnam, Mekong River Delta, North Central Coast Vietnam, Northeast Vietnam, Northwest Vietnam, Red River Delta, South Central Coast Vietnam, Southeast Vietnam, Vietnam Briefing Magazine, Vietnam Key Economic Zones, Vietnam Regions | Leave a comment

Foreigners Eligible for VAT Refund When Leaving Vietnam

Apr. 30 – On April 12, 2012, Vietnam’s Ministry of Finance promulgated Circular No.58/2012/TT-BTC to guide the implementation of Decision No. 05/2012/QD-TTg dated January 19, 2012 on implementing a pilot project allowing VAT refunds for foreigners departing Vietnam from Noi Bai International Airport in Hanoi or Tan Son Nhat International Airport in HCMC.

Foreigners who buy goods in Vietnam and leave from either of those airports will be reimbursed the VAT they have paid. However, the tax refund service fee which commercial banks are entitled to charge is equal to 15 percent of the total amount of VAT on goods eligible for refund that foreigners carry when leaving the airports. As such, the amount of value added tax which foreigners will be refunded is equal to 85 percent of the total amount of VAT paid. Continue reading →

Posted in Business, Finance, Tax and Accounting, Hanoi, Ho Chi Minh City, Retail | Tagged Hanoi, HCMC, Value-Added Tax, VAT, Vietnam Tax, Vietnam Tourism | Leave a comment

Dezan Shira & Associates and the Roadshow ‘Italy – Vietnam’

Apr. 25 – The Roadshow “Italy – Vietnam” that was held in Italy between March 26th and March 30th in Milan, Bologna, Padova and Pesaro has been important for both parties involved. It helped Italian entrepreneurs increase their knowledge about Vietnam (boasting the 13th largest population in the world and one of the highest GDP growth rates) and it settled the basis for further projects in the area. Continue reading →

Posted in Business, FDI and Foreign Trade, Hanoi, Ho Chi Minh City | Tagged Dezan Shira & Associates, Italy, Roadshow Italy Vietnam | Leave a comment

Opportunities in Vietnam’s New Industries

By Tran Que Chi

Mar. 9 – Vietnam’s food processing, software and environmental technology sectors have been labeled as new industries with great potential.

Hanoi, Ho Chi Minh City and the Central Highlands in particular have been identified as future centers for the food processing industry, with Da Nang, Hanoi and HCMC expected to become major software hubs. Continue reading →

Posted in Business, Danang, FDI and Foreign Trade, Hanoi, Ho Chi Minh City | Tagged Food Processing, Software Development, Vietnam FDI, Vietnam Joint Ventures | Leave a comment

Businesses in Hanoi Asked to Pay VND4 Trillion in Tax Due

Dec. 29 – Businesses in Hanoi still owe more than VND4 trillion in taxes this year, and the government has urged them to pay it back.

Thai Dung Tien, deputy head of Hanoi Tax Department, said that around 86.5 percent of the taxes (VND3.5 trillion) is collectable. However, 3 percent of the money will prove difficult to collect and the status of the remaining 10.5 percent is unclear. Continue reading →

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Vietnam’s National Assembly Approves 2012 Salary Increases

Nov. 15 – On November 10, the Vietnamese National Assembly approved VND59.3 trillion (US$2.83 billion) in salary increases starting from May 1, 2012.

Under the recent resolution, minimum salaries for state employees will be increased to VND1.05 million (US$51) per month. The current minimum wage for state employees is VND830,000 (US$40), established by Decree No. 22/2011/ND-CP dated April 04, 2011 with an implementation date of May 1, 2011 and it is still in force. Continue reading →

Posted in Business, Hanoi, Legal and Regulatory | Tagged Vietnam HR, Vietnam Labor, Vietnam Minimum Wages, Vietnam Overheads, Vietnam Salary | Leave a comment

Real Estate Market Trends in Hanoi

Oct. 26 – Investor interest in Hanoi’s residential property has increased in recent years. With an average population growth rate of 5 percent a year coupled with a considerable area of vacant land, housing prices in Hanoi have been pushed up to levels that are higher than they should be. Selling prices of upmarket houses remain high while prices of average houses climbed 8.5 percent.

“The population in the next 15-20 years will grow constantly with middle-class people and medium-sized enterprises having the fastest growth rates,” according to Mr. Vu Xuan Thien, deputy director of the Housing and Real Estate Management Department. Continue reading →

Posted in Business, FDI and Foreign Trade, Hanoi, Real Estate | Tagged Hanoi, Hanoi Real Estate, Vietnam FDI, Vietnam Housing Market, Vietnam Real Estate | Leave a comment

Vietnam Eases Business Concerns for South Korean Companies

Jun. 10 – Until recently, there hadn’t been a department to support small and medium-sized Korean enterprises with tax and customs related issues in Vietnam. Last week, however, the Ministry of Finance held a conference in Ho Chi Minh City to support Korean businesses relating to problems with taxes and customs procedures during their business in Vietnam. The Korean business groups now have the opportunity to solve their problems with tax and custom procedures with the Vietnamese authorities.

During a similar conference in Hanoi one week earlier, Vietnam’s Ministry of Finance and the Korean Embassy in Vietnam agreed that Korean business would be treated the same as Vietnamese enterprises and the Ministry supported Korean businesses and would limit the barriers in the Vietnamese economic environment. Continue reading →

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