Other Briefings
Proposed Law on Securities May Restrict Private Offerings
Sept. 21 – A proposal to make changes to the Law on Securities may restrict activity for private stock offerings as part of efforts to shield shareholders. According to the revisions, a private offering is banned from occurring within six months of a previous private offering. Private offering investors also will be required to hold […]
Vietnam Named Most Attractive Investment Destination Outside of BRICs
Sept. 20 – Global investors have named Vietnam as one of the most attractive investment destinations beyond the BRIC markets, according to a report released by the U.K. Trade and Investment and Economist Intelligence Unit (UKTI). This is the third straight year in a row that Vietnam was chosen. U.K. Business Secretary Vince Cable said: […]
Vietnam Says No to Outdated Steel Technologies
Sept. 20 – The Minister of Industry and Trade said that they will begin rejecting investment licenses for steel projects that use outdated technology. The minister, Vu Huy Hoang, cited that many have licensed steel projects that are outside the industry’s development planning and use backward technologies, causing serious environmental pollution and waste of energy.
Vietnam Wants to Attract More Investment in Telecoms
Sept. 17 – Vietnam’s Ministry of Information and Communications has promised to develop new regulations that will entice more investment in the telecommunications sector. “The telecom sector has achieved impressive growth in recent years and narrowed the gap with developed countries, which has benefited economic growth and improved the living standard of local people,” said […]
Experts Urge Stricter Rules for FDI Approval
Sept. 16 – Foreign direct investment experts are recommending that government officials set stricter conditions before approving FDI licenses to prevent aborting idle projects. Ideally, FDI projects should be positive and sustainable. Authorities should be familiar with the foreign investor’s background before granting licenses.
Vietnamese Airports to Scrap Immigration Procedures
Sept. 15 – Starting today, Vietnamese international airports will scrap entry and exit procedures for passengers, including Vietnamese expatriates and foreigners, to ease congestion and clearance delays. This means that travelers to Vietnam will no longer be required to fill out immigration declaration forms. This effort shows the government’s determination to push through public administration […]
British Tobacco Ordered to Pay US$18.2 Million in Overdue Taxes
Sept. 14 – Tax authorities have ordered joint venture firm British American Tobacco and Vietnam National Tobacco Corporation (Vinataba), located in the Dong Nai Province in southern Vietnam, to pay an estimated VND263 billion in overdue taxes from 2005-2008. The U.K.-based company will also be fined VND91 billion for its joint venture with Vietnam Tobacco […]
Vietnam Issues Draft Decree on Retail Services
Sept. 13 – Vietnam’s Ministry of Industry and Trade released its draft decree on retail services last week tackling the Economic Needs Test (ENT), which acts to restrict foreign investment entry in the retail industry. Following the provisions of the ENT, setting up of retail establishments in excess of the first retail establishment of a […]
Japanese Investors Call for Retail Trade Reform
Sept. 10 – Japanese investors have called on Vietnamese authorities to clarify procedures for licensing foreign retail outlets during a Japanese Business Association meeting in Ho Chi Minh City last week. Members of the group suggested that the government issue specific guidelines on how foreign businesses can pass the World Trade Organization standard, the Economic […]
Authorities Urged to Improve FDI Licensing Procedures
Sept. 8 – The Foreign Investment Bureau (FIB) is being urged to improve foreign direct investment licensing procedures to ease fund disbursement for projects. “Those projects which apply obsolete technology or have a negative impact on the environment must not be granted licenses for investment. The FIB should also withdraw land lots and granted licenses […]
