Other Briefings
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, […]
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 […]
Business License Issuance Delayed in Congested Areas of HCMC
Nov. 5 – The government has opted to temporarily suspend issuing business licenses to congested areas in Ho Chi Minh City as a way to alleviate worsening traffic. Businesses that attract crowds like supermarkets and foreign language centers will be restricted as well as possibly wedding service providers. In addition, parking in traffic prone areas […]
Samsung Opens US$700 Million Cellphone Plant in Vietnam
Oct. 30 – South Korea’s Samsung Electronics has recently opened a US$700 million plant in Yen Phong Industrial Park located in the northern province of Bac Ninh, making it the first cellphone plant in the country and Samsung’s seventh in the world. The new plant will manufacture 1.5 million mobile handsets monthly to be sold […]
HSBC Increases Stake in Top Vietnam Insurer to US$105 Million
Oct. 28 – Banking giant HSBC has raised its stake in one of the country’s leading insurance and financial services group to 18 percent for US$105 million. The increased investment on Bao Viet Holdings is in line with HSBC’s overall strategy to expand into emerging Asian markets. HSBC first bought a 10 percent stake in […]
Vietnam, United Kingdom Endorse New Economic Contracts
Oct. 27 – The Vietnam-UK Business Forum 2009 held in London last week has led to the signing of a number of contracts including a US$1.5 billion project to build a thermo-electricity center and US$1.5 billion project to build a seaport warehouse. During the forum, Deputy Prime Minister Hoang Trung Hai said that Vietnam always […]
Chinese Company to Build Power Plant in Binh Thuan
Oct. 26 – The Shanghai Electric Group has agreed to build the Vinh Tan thermal power plant in the northern province of Binh Thuan. The plant will answer Vietnam’s growing electricity needs in the coming years providing 7.5 to 8 billion kWh of electricity annually. The Chinese company will handle the design, construction and installation […]
Guangdong Companies Sign 24 Deals in Hanoi Trade Forum
Oct. 23 – Guangdong companies signed 24 projects worth US$723 million during a trade forum in Hanoi on October 20. “Vietnam will do its best to further develop this relationship, including efforts to boost economic, commercial and investment ties with Guangdong province,” Vietnam’s Deputy Prime Minister Pham Gia Khiem was quoted as saying by Nhan […]
New Capital Gains Tax Hinders Real Estate Sales
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
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 […]
