Sept. 30 – Lam Dong Province in central Vietnam is seeking local and foreign investors to support a 1,000 hectare tourism complex.
Local authorities are offering 24 projects for investment amounting to a total of US$1.87 billion. The majority of those projects will involve huge investments in the trade and tourism sectors. Continue reading
Sept. 23 – Vietnam’s Ministry of Finance has promised to lower port fees in response to letters received from the European Chamber of Commerce in Ho Chi Minh City in April and August.
The EuroCham letters pointed out that fees for the Cai Mep–Thi Vai port are as much as two to four times more expensive compared to other ports in the region, particularly Singapore and Malaysia. Continue reading
Sept. 21 – National air carrier Vietnam Airlines has announced that it would slash international airfare tickets from Vietnam by as much as 85 percent in celebration of Hanoi’s 1,000th year anniversary.
Flight bookings must be made starting September 30 to October 10 applicable for trips taken from October 15 to December 21, 2010 and April 1 to May 31, 2011. Continue reading
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
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. Continue reading
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