Apr. 20 – Vietnam and Laos have agreed to develop the Vung Ang Port located in central Vietnam’s Ha Tinh Province.
The Vietnam-Laos Vung Ang Port Joint Stock Company will manage improvements made on the port. The endeavor will make it easier to ship goods from Laos and help develop the East-West Economic Corridor for trade. Continue reading
By Joyce Roque
Mar. 23 – Following customs procedures when importing or exporting goods in Vietnam is one of the vital aspects of doing business in a country where manufacturing costs are leveraged to its favor.
Goods for import and export are subject to customs clearance that checks on the quality, specifications, quantity, and volume of goods. Following Vietnamese standards, certain imported goods will be subject to inspection depending on the latest list provided by the government. Imported pharmaceuticals are required to undergo further testing and must include product use, dosage, and expiration dates written in the Vietnamese language and included with the products. 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
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. Continue reading
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
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
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. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at vietnam@dezshira.com, download our corporate brochure or visit at us www.dezshira.com
