Feb. 28 – Vietnam’s finance and real estate regulatory frameworks are set to undergo changes in the coming months, according to the Ministry of Finance.
New amendments to securities regulations to come into effect in July will allow companies and investors to negotiate investments in terms of cash or assets, contingent upon the mutual approval of contracts and price agreements by both parties. Continue reading
Jan. 5 – Vietnam will raise license plate registration charges up to VND20 million for cars with less than 10 seats in an attempt to reduce traffic in Ho Chi Minh City and Hanoi. The increase from the current VND2 million per vehicle would be effective beginning in February, the government said on Friday.
Vietnam’s Finance Ministry also plans to raise plate fees for motorcycles up to VND4 million per vehicle depending on its value. The current charge is VND500,000 per bike. Continue reading
Dec. 8 – Cai Mep Agricultural Port, one of the region’s largest ports, reopened on December 1.
The 308-meter-long port closed to allow upgrade efforts to take place which aim to more than quadruple its capacity from 30,000 deadweight tons to 160,000 deadweight tons, and will eventually be able to accommodate 200,000 deadweight tons by the end of next year. Presently, it is capable of accommodating ships of up to 75,000 deadweight tons. Continue reading
Nov. 17 – The Vietnamese government approved and outlined plans for two new international airports in a meeting chaired by Deputy Prime Minister Hoang Trung Hai on Monday – one in the southern province of Dong Nai and one in the northern port city of Haiphong.
Construction on Dong Nai’s Long Thanh International Airport has been structured into two phases with the first phase scheduled to be completed by 2020 and the second phase to be finished by 2035. The airport is projected to handle 3 million tons of cargo and between 80 million to 100 million passengers annually. Continue reading
Nov. 12 – Vietnam’s Ministry of Finance is considering reducing tariffs on imported trucks next year, a move that would bring the country in line with its WTO commitments.
According to the ministry’s proposal, from 2011 import taxes on completely-built trucks with a carrying capacity of five tons and below would be cut to 30 percent from the current 80 percent, while the tax on 5-10 ton trucks and 10-20 ton trucks would be cut to 25 percent from 54-55 percent and 30 percent respectively. Continue reading
Nov. 1 – Russia signed a US$5.6 billion deal with Vietnam on Sunday, committing Russian technological know-how to help build Vietnam’s first nuclear power plant and increase the country’s hydroelectric capacity.
Vietnamese President Nguyen Minh Triet and Russian President Dmitry Medvedev oversaw the signing of the treaty during talks over the weekend in Hanoi. Construction on the nuclear project is expected to begin in 2014. Continue reading
Oct. 21 – To fully comply with WTO policies, Vietnam has committed to opening up its growing express delivery market to create a level playing field for both domestic and foreign express mailing companies.
Vietnam’s express delivery market has seen tremendous growth over the last few years with total revenue in the sector rising from US$50 million in 2007 to around US$200 million in 2010.
The country plans to open the market up in 2012 to allow joint ventures with 51 percent foreign-invested capital or the establishment of wholly foreign-owned companies in the next five years, Paul Needham, chief editor of CEP Research, told Vietnam News. 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
HANOI, Oct. 6 – Vietnam and the European Union signed an aviation agreement on Monday that will remove nationality restrictions in the bilateral air services agreement between the EU member states and Vietnam.
According the European Chamber of Commerce in Vietnam, the agreement will allow any EU airline to operate flights between any EU Member State and Vietnam, where a bilateral agreement exists and traffic rights are available.
Any EU airline will be able to operate flights between Vietnam and any EU member state in which it is established, where a bilateral agreement between the EU Member State concerned and Vietnam already exists and traffic rights are available. Continue reading
Sept. 28 – Vietnam is working towards improving its trade process with a single window customs pilot project backed by the U.S. Trade and Development Agency.
“This pilot project will help to increase revenue, enforce trade compliance regulations and reduce the cost of cargo movement into Vietnam, an increasingly important partner for the United States in Southeast Asia,” U.S. Ambassador Michael W. Michalak said when the US$718,600 grant was signed on September 15. Continue reading
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