Sept. 1 – The country’s largest container seaport, Tan Cang-Cai Mep, will open its second phase later this year; allowing it to receive ships with a loading capacity of up to 110,000 tons.
The port is located in Ba Ria-Vung Province in southern Vietnam. Its second phase expansion spanning 40 hectares will include two new wharves with a total length of 600 meters and a container warehouse. Read the rest of this entry »
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. Read the rest of this entry »
Aug. 26 – Vietnam is seeking foreign investment partners to upgrade Phu Bai Airport in Thua Thien-Hue Province in central Vietnam by 2020.
Authorities want the airport to be up to international standards with the capacity to cater to five million passengers. Currently, the airport can only serve 500,000 passengers annually. Read the rest of this entry »
Aug. 25 – Vietnam’s Ministry of Industry and Trade and the Ministry of Information and Communications encouraged the use of digital signatures for government agencies and companies during a workshop held in Ho Chi Minh City on Tuesday.
The use of digital signature will pave the way for the development of electronic commerce in the country. “One of the solutions to ensure data security in e-transactions is the use of digital signatures,” said Tran Huu Linh, deputy head of the Department of Commerce and Information and Technology. Read the rest of this entry »
Aug. 24 – Vietnam has established the Large Enterprise Tax Management Department to specifically cater to the tax issues and payment needs of major corporations.
This move will ease the tax process for about 405 large corporations operating in the country. The majority of these types of firms are state-owned and have stakes in top industries such as oil and gas, electricity, mining, post and telecommunications and banking. Read the rest of this entry »
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. Read the rest of this entry »
Aug. 20 – Following Government Decree 87/2010/ND-CP, Vietnam will exempt export and import express packages from tax beginning October 1.
The decree will also waive tax on imported raw materials or appliances for specific investment sectors or those not made in the country five years after production date. Read the rest of this entry »
Aug. 19 – Tax authorities clarified in June that corporate income tax incentives shall not apply to new business activities after a foreign company has already been granted an investment certificate.
Official Letter 2057 says a foreign invested company that decides to offer business activities in addition to the activities stated on its investment certificate shall be considered as expanding its business. The new activity will not be qualified for CIT incentives but will be charged a 25 percent tax. Read the rest of this entry »
Aug. 18 – Vietnam’s currency, the dong, dropped a further 1.1 percent to VND19,320 against the U.S. dollar from VND19,425 earlier as part of government efforts to rally economic growth and increase exports, said economists.
Yesterday, the central bank let the dong’s daily reference rate slip by 2 percent to VND18,932 per dollar. “The main reason for the central bank’s move is to balance onshore foreign-exchange demand-and-supply and to support exporters,” said Prakriti Sofat, a Singapore-based economist at Barclays Capital. “Vietnam largely exports low value- added goods and typically competes on prices.” Read the rest of this entry »
Aug. 17 – Beverage and food giant PepsiCo Asia is committing to invest US$250 million in Vietnam to upgrade its manufacturing capacity in the next three years.
The company says it will also develop new products for the market. PepsiCo has new facilities in Binh Duong and Can Tho. Global multinational companies are expanding operations in emerging markets as a way of coping with slower demand in the United States and Europe. Read the rest of this entry »
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