Economy & Trade

Vietnam Allows Foreign Investors to Establish Logistics Firms

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Foreign logistics firms Vietnam

By: Dezan Shira & Associates
Editor: Koushan Das

Following Decree No.163/ND-CP, foreign investors will now be allowed to set up logistics services companies from February 20, 2018, in Vietnam. The establishment of new companies will be subjected to conditions on ownership and services. The services under the decree have been divided into 16 types such as cargo handling services, container warehousing services, and cargo agency services. 

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Vietnamese SMEs to Join ASEAN Goods Self-Certification

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By: Dezan Shira & Associates
Editor: Koushan Das

Vietnam’s Ministry of Industry and Trade (MoIT) has made changes to the pilot implementation of self-certification of goods origin as per the ASEAN Trade in Goods Agreement (ATIGA). This will be applicable for Laos, the Philippines, Indonesia, and Thailand. Earlier, only enterprises with an export turnover of US$ 10 million could conduct self-certification of goods origin. But now, even small- or medium-sized enterprise (SME) or larger firms will be able to do so. These changes, already in effect from December 2017 are expected to boost Vietnamese exports to ASEAN markets, further increasing their regional integration.

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Expanding Investments in Dong Nai

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Dong Nai

By: Dezan Shira & Associates
Editor: Koushan Das

In the last few years, Dong Nai province, in the center of the Southern Key Economic zone, has seen a growing interest from foreign investors. With a gross regional domestic product (GRDP) of eight percent, high per capita income, and growing trade surplus, Dong Nai’s economy will continue to expand in 2018 and be a priority for foreign investors.

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Vietnam to Implement Multiple FTA Tariff Cuts in 2018

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By: Dezan Shira & Associates
Editor: Koushan Das

Vietnam’s Ministry of Finance has announced 10 draft decrees on preferential tariff rates for 2018-2020 related to its 10 Free Trade Agreements (FTAs). Most of the goods will enjoy a zero percent import tariff in effect from January 1, 2018, in line with the country’s commitments within the FTAs framework, while others will go through a gradual reduction until 2022. With reduced tariffs leading to a reduction in import tax revenues, the government aims to offset it by an increase in domestic tax collection. 

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Vietnam: New Laws to be in Effect in 2018

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By: Dezan Shira & Associates
Editor: Koushan Das

In 2017, the Vietnamese government passed numerous laws which are going to come into effect in 2018. The laws primarily focus on sectors such as banking, agriculture, trade, and tourism. Most of the laws aim at improving the investment climate and reducing complexities in doing business in the country. 

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Vietnam: FDI Strategy for 2018-2023

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By: Dezan Shira & Associates
Editor: Koushan Das

Vietnam’s Ministry of Planning and Investment, with the assistance of the World Bank, is currently drafting a new FDI strategy for 2018-2023 focusing on priority sectors and quality of investments, rather than quantity. The new draft aims to increase foreign investment in high-tech industries, rather than labor-intensive sectors. Manufacturing, services, agriculture, and travel are the four major sectors in focus in the draft.

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Vietnam’s Central Highlands Region: Strategic Investment Opportunities

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By: Chau Pham

The Central Highlands have long been a strategic economic, political location in the history of Vietnam. Sharing borders with Laos and Cambodia, this region is one of the most important location for the economic development of Vietnam in the next few years.

A region full of potential

The Central Highlands, or the Western Highlands, is located in the West and South West of Vietnam. The region contains five provinces: Lâm Đồng, Daklak, Dak Nông, Gia lai and Kon Tum. These provinces are expected to show high potential for development in renewable energy, agricultural and tourism in the coming years.

According to the Minister of Public Security’s speech in the fourth conference on investment promotion in Central Highlands total investment capital has reached VND 266 trillion in 2015 with an annual growth rate of 11.3 percent between 2011 and 2015. To date, there have been 140 FDI projects worth US$772.5 million in the Central Highlands. This number is expected to grow significantly in the next few years, especially as the government is trying to improve the region’s infrastructure and paying more attention to renewable projects in its long-term plan of development.

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The Investment Climate in Bac Ninh

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VB- Investments on the rise in Bac Ninh

By: Dezan Shira & Associates
Editor: Koushan Das

In the last 20 years, Bac Ninh province in the Northern Key Economic zone has grown from an agricultural community to a major industrial center with the second-highest per capita income and one of the highest economic growth rates in the country. Surrounded by major economic centers such as Hanoi and Hai Phong, it has managed to establish itself as one of the major FDI destinations.

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Vietnam: Nation Brand Value on the Rise

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By: Dezan Shira & Associates
Editor: Koushan Das

According to the 2017 Nation Brands report by Brand Finance, Vietnam is the fifth fastest growing nation brand in 2017 amongst 100 economies, growing by 43 percent since last year. Brand Finance is an independent branded business valuation and strategy consultancy. The nation brand of Vietnam was valued at US$ 203 billion and was ranked 45th amongst 100 economies, a jump of five places from 2016. In the last few years, it has been noted that a strong nation brand leads to an increase in investments, adds value to exports, attracts tourists and skilled workers. 

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Vietnam and the ASEAN-Hong Kong Free Trade Agreement

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VB- AHKFTA- What it Means for Vietnam-01

By: Dezan Shira & Associates
Editor: Koushan Das

After three years of negotiations, ASEAN members and the Hong Kong Special Administrative Region (SAR) of China finally signed a Free Trade Agreement (FTA) on 12 November to increase economic cooperation between the two regions. Agreements signed included the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA), and the ASEAN-Hong Kong Investment Agreement (AHKIA). The agreements will come into force on January 1, 2019.

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