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. 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. Continue reading
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. Continue reading
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. Continue reading
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. 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
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.”
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 Vietnam Chamber of Commerce and Industry’s legal department, Tran Huu Huynh, during a press conference in Hanoi yesterday. Continue reading
Jun. 28 – French company VINCI Construction Grands Projects recently signed a memorandum of understanding with Deo Ca Investment JSC to develop the Ca Pass tunnel and road project located in the north-south corridor between Ho Chi Minh City and Hanoi.
The US$600 million project will make it safer to travel the mountain pass located in the corridor. The company will expand the road connecting the major cities by nine kilometers as well as build an 11 kilometer section that will feature one 5.5 kilometer and 0.35 kilometer tunnel, three bridges and approach roads. Continue reading
Jun. 8 – Singapore-based real estate giant Capitaland, the largest developer in Southeast Asia, is planning to double its investments in Vietnam over the next three to five years to US$2.5 billion.
New projects will include affordable housing and shopping malls across Vietnam’s key cities like Hanoi and Ho Chi Minh City, Capitaland CEO Liew Mun Leong told reporters at the sidelines of a meeting with government officials in Hanoi. Capitaland currently maintains roughly US$1.2 billion in real estate projects throughout the country. 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
