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Tag Archives: Vietnam Regulatory
Vietnam To Revamp Its Economy
Feb. 27 – Vietnam has approved a plan to boost its economy by focusing on restructuring public investments, banks and state-owned enterprises (SOEs). Furthermore, in an attempt to generate sustainable growth by 2020, attention will also be placed on strictly controlling inflation. As he signed a 29-page directive that took effect on February 19, Prime Minister Nguyen Tan Dung announced that the goal was to create and maintain prudent monetary policies that would tame inflation and ensure “reasonable growth”. Vietnam also plans to restructure its financial markets and consolidate SOEs and investments. The directive further elaborates that Vietnam will tighten
Posted in Economy and Politics, Legal and Regulatory
Tagged Vietnam Economy, Vietnam FDI, Vietnam Regulatory
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New Regulations Open Up Vietnam to Foreign Investors
Jan. 28 – The Vietnamese Ministry of Finance issued Circular No. 213/2012/TT-BTC last week in a move to increase the participation of foreign investors in Vietnam’s securities market. The Circular also includes provisions on disclosure requirements for foreign investors. It will take effect on February 15 and will replace Decision No. 121/2008/QD-BTC. Under the Circular, it will be easier for foreign investors to open securities trading accounts. Furthermore individual foreign investors will no longer need to submit judicial background records; only a notarized copy of a valid passport or other official identification documents will be necessary. Documents obtained in the
Important Changes to Vietnam’s Tax Regulations
Vietnam’s government has made some important changes to the country’s tax regulations over the first four months of 2012, and has issued Circular 06, which took effect from March 1, providing a detailed guidance on some key changes to VAT rules. Continue reading
Vietnam to Tighten Cash Loan Disbursements from June 1
According to the Circular, banks will not use cash as a method for disbursing loans from June 1, 2012. Continue reading
Update Regarding Land Use Mortgage Rights
By Mattia Capsoni Feb. 24 – The Vietnamese Government issued Decree 05/2012/ND-CP to change and set up new rules concerning mortgages of land use rights and assets lying on land. More specifically, this kind of contract was to be approved by the commune-level People’s Committee; but according to the Decree, from April 2012 this power will be passed on to the district-level authorities.
Vietnam’s Bank Restructuring a Big Opportunity for Foreign Investors
By Lorenzo Martelli Dec. 14 – Increases in the ownership ratios that foreign strategic partners can hold at Vietnamese joint stock banks, encouragement for the merger of weak banks, and not increasing the chartered capital are the main points of the European Chamber of Commerce (EuroCham)’s proposal when talking about bank restructuring. Decree No. 69/2007/ND-CP enacted by the Prime Minister in 2007 decided to allow a strategic foreign investor to purchase from between 15 percent to 20 percent stake in a domestic bank, which, however, must not exceed 30 percent of the chartered capital of that bank.
Corporate Income Tax Delayed One Year For Labor-Intensive Enterprises
Decision 54/2011/QD-TT inked by the Prime Minister agrees to extend corporate income tax payments in 2011 for labor-intensive companies as well as select co-operatives. Continue reading