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    U.S. Firm to Develop Resorts in Danang and Dalat

    Jun. 9 – American hotel and leisure company, Starwood Hotels and Resorts Worldwide, has partnered with Saigon Invest Group to built two resorts in Danang City and Dalat town. These projects will include a 330-room Le Meridien Danang Resort and Spa on more than 8.4 hectares of land. The project will have an investment capital[…..]

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    Vietnam Implements Policies to Promote Tourism

    Jun. 8 – In an effort to boost tourism, Vietnam is implementing new policies to cut taxes and offer value added tax refunds to tourists. Deputy Minister of Culture, Sports and Tourism Huynh Vinh Ai speaking at a recent forum held in Ho Chi Minh City,  said that cars with 25 seats or more meant[…..]

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    Cambodia to Open 3 New Border Crossings with Vietnam

    Jun. 5 – Cambodia is set to open additional border crossings with Vietnam by next month to encourage more tourism and trade between the two countries. When the new border crossings are open it will allow more vehicles to arrive per day from the previous 150 to 500.  The news was announced by Cambodia’s Minister[…..]

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    First Deepwater Container Terminal Opens

    Jun. 1 – Vietnam’s first deep-water container terminal was inaugurated last Saturday in the southern province of Ba Ria-Vung Tau. The new SP-PSA International Port on the Cai Mep-Thi Vai River in Tan Thanh District will now make it possible for Vietnam to have direct shipping access to the U.S. market. “This is of great[…..]

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    More Goods Qualified for 50 Percent VAT Discount

    May 20 – Vietnam’s Ministry of Finance has added thousands of goods on their list that qualify for a 50 percent cut on VAT rates until the end of the year. The list added knives and cutting blades used for machines or mechanical tools, welding rods, water tanks with a capacity of more than 300[…..]

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    Vietnam-United States Container Service to Start June 4

    May 19 – Singaporean shipper APL will begin weekly direct container shipping service between Vietnam and the western coast of North America on June 4. “This is the beginning of a new era for trade with Vietnam and marks its increased importance as a manufacturing and export center,” Eng Aik Meng, President of APL, told[…..]

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    U.S. Still Vietnam’s Largest Apparel Market

    May 14 – The country’s biggest apparel export market remains to be the United States despite its economy grappling with the current financial crisis. According to Vietnam Textile and Apparel Association (Vitas) secretary, Nguyen Son, apparel exports to the United States decreased by 4 percent during the first quarter while total export turnover to the[…..]

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    HCMC Rentals Hit by Lower Demand

    May 12 – Office and serviced apartment rentals have been dropping in Ho Chi Minh City during the first quarter of the year because of continuing weak demand brought by the economic downturn, reports real estate services firm CB Richard Ellis (CBRE). For Grade-A buildings, rents have plunged by 20 percent to an average of[…..]

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    South Korean Firms Cite Misunderstanding of Tax Laws

    May 11 – During a meeting with finance ministry officials, South Korean executives explained that Korean companies doing business in Vietnam can sometimes disregard new corporate tax and customs regulations because of misinterpretation. The deputy general director of Lotteria Vietnam, Dao Manh Ha, said that Korean firms generally respect Vietnamese laws but are sometimes confused[…..]

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    Trade Treaty with Japan to Cut Export Tax Fees

    Apr. 17 – The Vietnam-Japan Economic Partnership Agreement will remove import tariffs on 2,586 Vietnamese goods by the middle of the year. The deal translates to major export opportunities for both countries. By 2019, import tariffs will be cut from 6,302 Vietnamese goods and 94.5 percent of Vietnam’s exports and 87.6 percent of Japan’s exports[…..]

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