Vietnam Briefing News » Chemical & Pharmaceutical

Maximizing Import Duty Exemptions in Vietnam

Vietnam Briefing — Wed, 17 Mar 2010 08:27:25 +0000

By Joyce Roque Mar. 17 – Foreign investors in Vietnam may need to import components of their business not readily available in the local market. Import duty rates regularly change so it is best to always keep abreast with the latest rates. Authorities however prefer businesses that do not import majority of their manufacturing needs from overseas. Enterprises and business cooperation contract parties doing business in the country are allowed the following import tax exemptions: Temporary imports for re-export or temporary exports for re-import Movable assets of organizations and individuals brought into or from Vietnam within the permitted limits Exports … Continue reading →

Twenty Percent Discount on Power Costs Proposed

Vietnam Briefing — Tue, 11 Aug 2009 06:35:57 +0000

Aug. 11 – The Ministry of Industry and Trade has submitted a proposal that will allow businesses that operate only during the day to be qualified for a 20 percent discount on electricity costs during peak hours of the morning. Currently, business power users are charged double in the peak hours between 9:30 a.m. and 11:30 a.m. as well as 5 p.m. and 8 p.m. If approved, the discount will begin on September 1 and will last for only 6 months until new rates are determined for next year. Only companies operating in the daytime and purchasing power at medium … Continue reading →

Vietnam Tops Business Confidence Survey

Vietnam Briefing — Thu, 16 Jul 2009 09:44:12 +0000

Jul. 16 – A survey conducted by banking company, HSBC, showed Vietnam as having the most optimistic small and medium-sized enterprises (SMEs) in the region. The HSBC Emerging Markets Small Business Confidence Monitor tallied the answers of more than 3,400 SMEs in Asia, Latin America and the Middle East. Respondents in the Asian region included India, Hong Kong, Indonesia, China, Malaysia, Singapore, Taiwan and Vietnam. Companies were polled asking about their plans in the next six months in terms of capital investment and recruitment plans in addition to forecasts on economic growth. In Vietnam, 49 percent of the 300 companies … Continue reading →

Largest Software Park Approves US$316.45 Million Worth of Projects

Vietnam Briefing — Thu, 09 Jul 2009 02:00:37 +0000

By Fan Feng Jul. 9 – The country’s largest software park and high-tech industrial area, Hoa Lac Hi-Tech Industrial Zone, has approved the investment licenses of four projects worth a total of US$316.45 million. Shipbuilder Vietnam Shipping Industrial Group invested US$85.6 million for the Vietnam Ship Research Institute to house its national research and design lab within the complex. The Vietnam Internet Center is funding a US$16.29 million internet center. The Financing and Promoting Technology Group is using US$154.1 million to build a software facility and information technology university – FPT University – within the compound. And a US$105.46 million … Continue reading →

South Korean Company Opens US$300 Million Plant in Central Vietnam

Vietnam Briefing — Mon, 18 May 2009 08:58:37 +0000

May 18 – The subsidiary of South Korean Doosan Heavy Industries and Construction inaugurated a US$300 million plant in central Vietnam with the aim of developing it as a global production hub. Doosan Heavy Industries Vietnam’s plant in Quang Ngai Province’s Dung Quat Economic Zone will make major components and equipment for the flagship company’s power and water businesses. This will include boilers, heat-recovery steam generators, seawater desalination evaporators, and material handling equipment. The plant will also provide the chemical process equipment (for Doosan Mecatec, also under Doosan Group and will employ 1,300 locals eventually increasing staff to 3,000 by … Continue reading →

Vietnam’s IT Industry Hampered by Underqualified Workforce

Thu, 01 Jan 1970 00:00:00 +0000

Sept. 4 – Local outsourcing companies in Vietnam say that the country’s poor information technology education threatens to hamper the industry’s growth.

Companies complained that even IT graduates coming from the best schools had to be retrained another 3 to 6 months because they lacked foreign language skills, math abilities and programming knowledge.

According to the Ho Chi Minh City Computer Association (HCA), while the number of IT graduates increases every year the quality of training remains inadequate.

The country has a total of 390 universities, colleges and IT training centers, 43 of which just opened in the past year.

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