Mar. 10 – Northern Thai Nguyen Province is being groomed to become a major metallurgy, mechanical manufacturing and precision engineering hub in the country.
Thai Nguyen is a small province bordering the capital city of Hanoi and serves as a gateway to the Red River delta with its network of road, rail and waterways systems. “Vietnam’s mechanical engineering remains undeveloped and that is why we should mobilize domestic and international resources to make metallurgy a vital industry for Thai Nguyen and the nation,” President Nguyen Minh Triet said during a visit to the province this week. Read the rest of this entry »
Mar. 8 – Ho Chih 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. Read the rest of this entry »
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. Read the rest of this entry »
Feb. 9 – According to the Authority for Hanoi Industrial and Export Processing Zones, the city has so far attracted US$4.14 billion worth of projects in its industrial parks.
Of the total 508 licensed projects, 240 are domestic projects worth US$3.533 billion while the rest is composed of 268 foreign-invested projects. In 2009, the IPs were able to sign in US$130.79 million of projects, including US$91.4 million of foreign direct investment. Read the rest of this entry »
Jan. 15 – Danang topped the Vietnam Chamber of Commerce and Industry’s 2009 provincial competitiveness index (PCI) ranking followed by Binh Duong Province in the south.
This is the second consecutive year that Danang finished first place in the index. Vietnam’s northeast Lao Cai Province ranked higher than Vinh Phuc Province to be included in the top three localities with favorable business conditions. Read the rest of this entry »
Jan. 12 – The Foreign Investment Agency forecasts that local businesses will make more investments overseas following last year’s 457 projects worth US$7.2 billion in more than 50 countries and territories.
Last year surpassed average overseas investments by a huge margin with agriculture projects accounting for 40 percent of projects or a majority 68 percent of all total investment. This was followed by the service industry with 19 percent of the projects releasing more than US$2 billion in funds. Read the rest of this entry »
Dec. 18 – Cambodia and Vietnam have agreed to a treaty that will open Mekong waterways to increases trade and tourism.
The Treaty on Waterway Transportation legally binds Cambodia and Vietnam to reducing the official restrictions that have existed for cross-border navigation, according to the the Mekong River Commission. Read the rest of this entry »
Dec. 7 – State-owned Vietnam Development Bank and local exporters are considering plans to build a bonded warehouse in the United States for exports reports Thanh Nien News.
This would aid local exporters cut storage costs and make more good readily available in the market. Vietnam Development Bank General Director Nguyen Quang Dung told Vietnam Net that they are seeking government approval for their plan although they could face many funding and procedural obstacles. Read the rest of this entry »
Nov. 18 – Vietnam’s Ministry of Finance is planning to revise tax laws to encourage more Vietnamese businesses to make overseas investments.
The draft of the tax circular is pending official approval at the end of the year. If the new plan is approved it will allow for incentives for projects in energy, power, petroleum, mining, and the cultivation of crops used in industry says Nhan Dan.
Moreover, Vietnamese companies who invest abroad will be exempt from export and value-added taxes levied on machinery, equipment and other materials. These firms will also be exempted from taxes on foreign made products and imported back to the country. Read the rest of this entry »
Nov. 10 – Vietnam’s General Department of Customs (GDC) has announced a new price database for dutiable products imported into the country and guidelines on how to inspect declared values.
The GDC letter instructs customs department on how they can the customs value of imported goods when the declared company prices are lower than than that in the database.
The price database will be used for assessing risks and not to use it attach customs value of imported goods by imposing a minimum value. In the instance that a company declares a customs value lower than the price of identical or similar goods stated in the price database and are unable to explain the price difference then database prices may be used. Read the rest of this entry »
