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    Vietnam to Lift Ratio on Foreign Ownership to 49 Percent

    Dec. 2 – Vietnam will soon raise the ceiling on foreign ownership in local businesses from 30 percent to 49 percent, says deputy chairman of the State Securities Commission (SSC) Nguyen Doan Hung during a workshop sponsored by Euromoney and the Ministry of Finance. The set ratio will include total chartered capital except credit institutions.[…..]

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    New Resolution to Dissolve Loss-Making State Firms

    Nov. 30 – Vietnam’s National Assembly has approved a new resolution that would dissolve unprofitable state-owned firms and increase efficiency of the remaining ones during the last day of its month-long session. The committee reported that 45 percent of its 91 state-owned groups in the country met low returns on equity of less than 10[…..]

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    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[…..]

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    Vietnam Reduces Landing Fees for International Airlines

    Oct. 29 – Vietnam’s Civil Aviation Administration will reduce landing and take-off fees for all international airlines by 5 percent until March 1, 2010 as a way of helping carriers deal with the global recession. Vietnam’s international airports charge varying fees on airlines depending on the size of the plane with bigger planes charged more.[…..]

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    More Tax Breaks Available for Foreign Experts

    Oct. 22 – A new circular extends tax breaks and benefits available for foreign experts implementing projects in the country using official development assistance (ODA) effective November 20. The new rule includes relaxing visa policies for foreign experts and their family in addition to an import tax exemption on personal assets for experts residing in[…..]

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    Carlsberg Expects Sales to Surpass Market Growth

    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[…..]

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    Minimum Wage to Increase by 12.3 Percent

    Sept. 3 – The government has announced that state-owned companies will be increasing monthly minimum wage by 12.3 percent to VND800,000 or US$44.63 beginning May 2010. The new measure will also include raising the pensions and special allowances for war veterans. Thanh Nien News reports that the same payment increase will be applied at local[…..]

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    Vietnamese Businesses Encouraged to Invest in Laos

    Sept. 1 – Vietnamese companies are encouraged to invest in Laos to boost its socio-economic development, said President Nguyen Minh Triet during an investment promotion conference on Laos in Ho Chi Minh City yesterday. The Laotian government and HCMC People’s Committee are offering investment incentives and bank loans to further attract Vietnamese investment into its[…..]

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    Ministry of Finance Clarifies Income Tax Exemptions

    Aug. 20 – Vietnam’s Ministry of Finance has released a circular clarifying the exemptions on personal income tax and taxes on gifts, inheritance and transfers of real property. Circular 160/2009/TT-BTC outlines that individuals and non-resident individuals receiving income from capital gains and royalties are exempt from personal income tax in the first half of this[…..]

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    Twenty Percent Discount on Power Costs Proposed

    Aug. 11 – The Ministry of Industry and Trade has submitted a proposal that will allow businesses that operate only during the day to be qualified for a 20 percent discount on electricity costs during peak hours of the morning. Currently, business power users are charged double in the peak hours between 9:30 a.m. and[…..]

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