Retail

New Border Economic Zone Approved for Southern Province

Jul. 7 – Authorities have given the go signal to build a border gate economic zone (EZ) located in the southern province of Dong Thap to facilitate trade within the Mekong region.

The EZ is slated to be developed to cater to industrial production, trade, tourism, agriculture, forestry and fishery in a total area of 31,936 hectares. The zone will span the districts of Hong Ngu and Tan Hong including international border gates Thuong Phuoc and Dinh Ba along the Vietnamese-Cambodian border. Continue reading →

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Biggest Cold Storage Facility in the Region Opens in Ho Chi Minh City

Jun. 22 – The largest cold storage facility in Southeast Asia opened in Ho Chi Minh City last week to provide services to the country’s local and foreign aquaculture and food companies.

The US$28 million facility was built by U.S.-based Preferred Freezer Services as part of its strategic plans to expand into Asia in the next 36 months. Continue reading →

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Vietnam, Chinese Province Sign Trade Deals

Apr. 29 – Vietnam signed trade deals with China’s east province of Jiangsu during the China-Vietnam Economic Cooperation Forum held in Nanjing on April 27.

The deals encompass cooperation in industry, trade, investment, finance, and tourism. Trade between Vietnam and Jiangsu Province has grown by 30 percent in the past four years. On the other hand, bilateral trade between China and Vietnam has also increased by an average of 30 percent in the last decade and trade rose by 40 percent during the first quarter of this year. Continue reading →

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Vietnam to Waive Visa Fees for August and September

Apr. 27 – Vietnam will waive visa fees for foreign visitors to the country from August to September as part of the “Impressive Vietnam Grand Sale 2010” campaign.

Foreign tourists can claim a refund of value added tax when they buy goods during the two month program. Tourist-related businesses in Hanoi, Danang, and Ho Chi Minh City will also offer 10 to 40 percent discount for local and foreign tourists during the campaign.

Continue reading →

Posted in Culture and History, Danang, Economy and Politics, FDI and Foreign Trade, Haiphong, Hanoi, Ho Chi Minh City, Retail, Shipping & Logistics | Leave a comment

Vietnam Requests WTO Panel to Resolve U.S. Anti-Dumping Tax Dispute

Apr. 23 – Vietnam filed its first case to the World Trade Organization’s Dispute Settlement Body (DSB) to establish a panel to resolve a trade dispute with the United States over anti-dumping tax imposed on its shrimp exports.

Vietnam’s permanent representative to the United Nations Office, Vu Dung, said that Vietnam had taken this action only after careful deliberation and consultation with the United States. “The key issue involved in our request for a panel is the ‘zeroing practice,’ specifically zeroing in periodic reviews under U.S. law. In our view, this issue was decided already by WTO panels and the Appellate Body on many cases,” he said during a meeting with the DSB. Continue reading →

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Environment Tax Law May Raise Production Costs in Vietnam

Mar. 22 – A draft of the new Environmental Tax Law, set to be approved in October this year, may increase taxes on fuel and coal and hike production costs in Vietnam.

The law will likewise tax mosquito repellents, plastic bags, fruit and vegetable preservatives, and products containing hydro-chlorofluorocarbons. If the law is approved, beginning January 1, 2012 an enterprise or individual who exploits, produces or imports groups of products mentioned above and classified as hazardous to the environment will be charged an environment tax. Continue reading →

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Ho Chi Minh City Grants 39 New FDI Licenses

Mar. 8 – Ho Chi Minh city has so far approved investment licenses to 39 new foreign direct investment projects worth an estimated US$333.4 million.

Vietnam’s financial capital wants to attract more investment into mechanics, engineering, bio-technology, IT and new materials projects. Majority of the 29 approved licensed projects last month were located outside the export processing and industrial zones while the rest were found in the Thu Thiem and South Saigon area. Continue reading →

Posted in Economy and Politics, FDI and Foreign Trade, Ho Chi Minh City, Real Estate, Retail, Shipping & Logistics | Leave a comment

Ba Ria-Vung Tau Province Attracts US$125 Million Worth of Projects

Feb. 26 – Vietnam’s southern province of Ba Ria-Vung Tau has approved 15 projects worth US$125.03 million including five foreign direct investment projects amounting to US$924.9 million since the beginning of this year.

Some of the major projects involve the Dragon Sea-Vung Tau international tourism exhibition center, a project of the Skybridge Dragon Sea Ltd Co. and the Sao Bien international port to be built by the M/s Koon-Top Pave Joint Venture. Continue reading →

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Construction of Coastal Road Link to Cambodia, Thailand Begins Next Month

Feb. 25 – A 220 kilometer international highway in the Mekong Delta connecting Vietnam with Cambodia and Thailand will begin construction next month.

The Thailand-Cambodia-Vietnam Southern Coastal Road Corridor will begin in Bangkok and end at Nam Can District in Ca Mau Province, Vietnam. The road link will be built at a cost of US$440 million with help coming from the governments of South Korea and Australia and the Asian Development Bank. Continue reading →

Posted in Economy and Politics, FDI and Foreign Trade, Retail, Shipping & Logistics | 1 Comment

Vietnam to Allow Delayed Tax Payments for 2010

HANOI, Feb. 23 – The government has announced it would allow delayed corporate income tax payments for the rest of the year as part of its efforts to support the economy.

The decision will cover small and medium-sized enterprises (SMEs), companies in production and textile industries as well as footwear outsourcing firms. Qualifying SMEs must have a charter capital ranging from VND20 billion (US$1.08 million) to VND100 billion ($5.4 million) or have less than 300 employees. Continue reading →