Other Briefings
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 […]
Vietnam Raises Minimum Tax on Imported Cars
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
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
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
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 […]
