Industries

New Capital Gains Tax Hinders Real Estate Sales

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Oct. 21 – Vietnam’s newly enforced 25 percent capital gains tax has affected demand in Ho Chi Minh City’s real estate market. Beginning September 26, a real estate buyer wanting to transfer the right to own a property to another person will have to pay a 25 percent capital gains tax or a 2 percent […]

Vietnam to Build First International Transshipment Port

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Oct. 15 – State-owned Vietnam National Shipping Lines will soon begin building its first international transshipment terminal port costing US$3.6 billion to boost container trade. The project will begin construction in the southern coastal province of Khanh Hoa and completed after 2020 in anticipation of improving trade. The international port will have a handling capacity […]

Vietnam Raises Minimum Tax on Imported Cars

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Oct. 12 – The General Customs Department of Vietnam has set higher minimum taxable prices for more than 600 models of imported cars, following allegations that local importers were under-invoicing to avoid higher taxes. Thanh Nien reports that there have been cases wherein car importers were caught declaring lower prices for imported cars. Taxable prices […]

Plans to Build US$1.2 Billion Metro Line in Approved

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Oct. 9 – Plans to build a US$1.247 billion underground metro line in Ho Chi Minh city has been approved by Deputy Prime Minister Nguyen Sinh Hung. Funding for the huge infrastructure will come from loans from Asian Development Bank, German bank KFW, and the European Investment Bank.No further details of the project have been released according […]

Largest Southeast Asian Ceramic Tile Plant Opens in Vietnam

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Sept. 30 – The largest ceramic tile plant in Southeast Asia has opened in Quang Nam Province in Vietnam spanning 40 hectares and costing VND$1 trillion. The plant can handle eight production lines with a total output of 24 million square meters annually says Xinhua. It will provide about 1,000 local jobs for the province. […]

Vietnam to Open First Rice Exchange on November 26

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Sept. 28 – Vietnam will soon open the country’s first rice exchange on November 26 to make trading easier. Vietnam the world’s second-biggest rice exporter. “The exchange is designed to create more favorable conditions for sellers and buyers to meet and conduct transactions,” Nguyen Van Dong, director of Hau Giang Province Agriculture and Rural Development […]

Software Piracy in Vietnam Costs US$275 Million Annually

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Sept. 24 – Software piracy in Vietnam is costing the country losses of US$275 million in jobs and tax revenues yearly, said The Business Software Alliance in a report. The report cautioned local businesses from supporting software copyright infringement saying that the 7 percent decrease in piracy rate has raised job creation by 11 percent, […]

New Issue of Vietnam Briefing Magazine Examines Industrial Zones

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Sept. 22 – The new issue of Vietnam Briefing magazine is out now and available for download (click on the image – complimentary subscription required). Set up to cater to industrial manufacturing, Vietnam’s industrial zones provide foreign investors with incentives and preferential policies not found in other parts of the country. It is these policies […]

Carlsberg Expects Sales to Surpass Market Growth

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Sept. 21 – Danish beer company, Carlsberg, is forecasting that its volume growth in Vietnam will even surpass the beer industry’s expected market growth of 6 to 8 percent annually. This has led the company to sign an agreement with Vietnamese brewer Hanoi Beer & Beverage Corporation (Habeco) in anticipation of the increased volume by […]

HSBC Partners with Vietnam Post to Offer Financial Services

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Sept. 18 – HSBC has announced that it will be partnering with state-run, Vietnam Posts, to make its financial services available to more people through its network of post offices. HSBC clients will now be able to make credit card payments or receive cash payments at post offices. “This move significantly expands HSBC’s domestic reach […]

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