Other Briefings
Vietinbank to Offer Online Remittance Transfer Services
Nov. 24 – The Vietnam Bank for Industry and Trade (Vietinbank) will begin offering online remittance transfer service to make it easier for Vietnamese overseas to transfer money home. The service allows a maximum one time transfer amount of US$3,000 or 10 transactions totaling US$15,000 monthly according to VOV News. One can immediately register for […]
HCMC Cuts Electricity to 51 Companies Due to Environmental Violations
Nov. 23 – Ho Chi Minh City authorities have cut electricity to 51 businesses last week as punishment for their environmental violations reports Thanh Nien News. The city gave an ultimatum that blacklisted business will not be reconnected again unless they clean up and stop damaging the environment. The 51 firms were found to be […]
Ho Chi Minh City Included in Top Cities for Software Testing
Nov. 20 – Strategic advisory firm, Tholons has included Ho Chi Minh City in its annual report of Top 6 Established Global Outsourcing Cities for Software Testing for the second year in a row. The city located in South Vietnam was also named in Tholon’s list of Top 10 Offshore Nations, Top 50 Emerging Global […]
Hanoi Plans to Streamline New Business Procedures
Nov. 19 – Hanoi’s Department of Planning and Investment announced plans to cut down the number of days it takes to establish a new business from the current 30 days to a maximum of nine days beginning November 17. Deputy director of Department of Planning and Investment, Nguyen Van Tu, told Thanh Nien News that […]
Tax Laws on Overseas Investment to be Revised
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, […]
Business in Vietnam as a Matter of Alignment
By Joyce Roque HANOI, Nov. 17 –Vietnam Briefing spoke with Robert Hughes, a principal at Tonkin Capital and a consultant for T&C Holding JSC. Hughes has been in Asia for 18 years taking top corporate posts in Hong Kong, Taiwan, Shanghai, Bangkok, Ho Chi Minh City and Hanoi, the place he now calls home. He […]
Minimum Wage Levels to Rise for Foreign Companies
Nov. 16 – Minimum monthly wages at foreign companies and organizations in the Vietnam’s least developed areas will increase 8.6 percent to VND1 million next year, according to a new government decree. However, the minimum monthly wages for skilled workers in these areas, designated as Zone 4, must be at least VND1.07 million per month. […]
AirAsia Launches HCMC-Phuket Route
Nov. 12 – Malaysia’s low cost carrier AirAsia has launched a new daily flight between Ho Chi Minh City and the famous Thai beach destination Phuket. It is AirAsia’s first direct flight shuttling from Ho Chi Minh City and Phuket. This route would include a “mixture of leisure seekers and business travelers,” Thai AirAsia’s chief […]
New Fund to Support Pro-Poor Projects
Nov. 11 – Vietnam’s Ministry of Planning and Investment, the U.K. Department for International Development (DFID) and the Asian Development Bank have launched a new fund that will help support projects directly beneficial to the poor. The Vietnam Challenge Fund is backed by a US$3 million budget that can support grants worth US$30,000 to US$250,000. […]
Customs Department Announces Dutiable Price Database for Various Goods
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 […]
