Free App Brings Vietnam Briefing to Your Fingertips
Dec. 16 – The brand new Asia Briefing mobile application brings the latest business news and foreign investment insights from Vietnam Briefing web site right to your fingertips.
The free app integrates with legal and tax regulatory updates from Dezan Shira & Associates, along with China, India, Russia, Mongolia Briefings, and 2point6billon.com (for emerging Asia). With hourly updates, it helps you stay on top of Asia’s dynamic investment environments. Continue reading
By Stefano Miggiano
Sept. 22 – On February 24, 2011, the Vietnamese government issued Decision No.12/2011/QT-TTg pursuant to the Prime Minister’s Decision No. 49 10/QT-TTg of July 19, 2010, approving the list of prioritized high technologies. The Decision took effect on April 15, 2011.
The new regulations aspire to encourage the development of the following industries: manufacturing mechanical engineering, electronics-informatics, manufacturing and assembly of automobiles, textile and garment, leather-footwear and high-tech industry development. Continue reading
Mar. 4 – The Finnish multi-national communications corporation Nokia just announced its US$275.8 million investment plan to build up a new manufacturing plant in Vietnam’s Bac Ninh Province near Hanoi, hoping the new facility will “play a key role” to “connect the next billion to the web” via cell phones.
Nokia signed a Memorandum of Understanding (MoU) with Vietnam’s Ministry of Planning and Investment on March 2, with the agreement on an initial US$275.8 million investment and a massive investment following later on. Continue reading
Oct. 11 – With a budget of US$90 million, Vietnam plans to launch a newly approved program next year that will see all government agencies and departments at the district level running “comprehensive” web sites by 2015.
The five-year plan to simplify administrative procedures and better serve the public by establishing online content could result in annual savings of up to US$1.5 billion, according to Dr. Phung Van On, IT Center director for the Office of the Government. Continue reading
Sept. 17 – Vietnam’s Ministry of Information and Communications has promised to develop new regulations that will entice more investment in the telecommunications sector.
“The telecom sector has achieved impressive growth in recent years and narrowed the gap with developed countries, which has benefited economic growth and improved the living standard of local people,” said Deputy Minister of Information and Communications Le Nam Thang during an industry forum held in Hanoi on Tuesday. Continue reading
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. Continue reading
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. Continue reading
Aug. 11 – Taiwanese companies have become Vietnam’s second largest source of foreign direct investment so far with an estimated US$22.58 billion worth of projects in Vietnam, according to the Ministry of Planning and Investment.
The top Taiwanese firms investing in the country include the biggest contract manufacturer of notebook PCs, Compal Electronics Inc., and the biggest electronics provider, Foxconn Group. From January to July, Taiwanese companies committed to investing a total of US$939.9 million, making the region the fifth largest foreign investor in Vietnam.
Apr. 9 – Quang Trung Software City (QTSC) located in Ho Chi Minh City will soon be developed into a major information technology park.
The software park has been in operation for nine years with a total area of 430,000 square meters designated for software production, research, training, development and distribution. Chu Tien Dung, general director of QTSC said the company would make use of their experience acquired over the years to map out a long-term development strategy. Continue reading
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: Continue reading