Legal & Regulatory

Stricter Listing Requirements Proposed for Hanoi and Ho Chi Minh City Stock Exchange


May 14 – The Vietnam Association of Financial Investors (VAFI) is proposing that stricter listing requirements for companies wanting to enter the Hanoi and Ho Chi Minh City stock exchange be written on the draft amendment of the Law on Securities. The organization suggests that companies that want to list shares on the HCM City […]

New Bidding Rules Prioritize Local Companies for State Projects


Apr. 26 – New bidding regulations will favor local contractors and materials for state-sponsored projects and programs. International tenders for goods and equipment will only be allowed if local bids are not able to meet required standards, if the required materials are unavailable in the country, or if official development assistance (ODA) requires that foreign […]

New Issue of Vietnam Briefing: Managing Human Resources in Vietnam


Apr. 15 – In this issue of Vietnam Briefing magazine we tackle the legal aspects of managing human resources in the country. Many foreign investors move operations to Vietnam to take advantage of its large, skilled and inexpensive labor force. As the economy expands further and more business enters the country, it will increasingly become […]

More Labor Inspections Slated for Hanoi Industrial Parks


HANOI, Apr.8 – Local authorities will soon conduct more labor inspections in Hanoi’s industrial parks after a series of worker strikes. In March, 60 Vietnamese workers from Endo Stainless Steel went on strike demanding more pay, subsidies and decreased working hours. “We will launch many inspections of enterprises following signals that workers’ interests have been […]

Employers Allowed to Use Customized Personal Tax Receipts


Apr. 7 – The Ministry of Finance announced last month that companies may use their own customized personal income tax receipts to issue to employees. Prior to Circular 37, employers had to get pre-printed PIT receipt books from local tax authorities. Employers will be allowed to print their own receipts if they meet the following […]

Circular Clarifies Tax Deferral Scheme for SMEs


Apr. 6 – A circular issued by the Ministry of Finance last month clarified details of the extension of 2010 corporate income tax payment for small and medium enterprises. Following the previously issued Decision 12, small and medium enterprises  will be allowed CIT payment deferral based on their total capital or annual average number of […]

Vietnam Minimum Wage to Increase


Apr. 6 – Vietnam’s new minimum wage will increase from VND650,000 to VND730,000 for government and state-owned company employees effective May 1, 2010. The new Vietnam minimum wage invariably affects monthly wage levels for other industries. Companies are then advised to prepare for the change accordingly since the revision will require that adjustments be made […]

Clarification on Compulsory Health Insurance for Expatriates


Mar. 31- Vietnam’s Social Insurance Agency has clarified a previous regulation that mandates the country’s health insurance system be expanded to include expatriates and foreign organizations. It is now clear that Decree 69 and Circular 09 will only cover expatriates  that are employed under the Vietnamese labor law as confirmed by PWC Vietnam. Expatriate employees […]

New Regulation to Deport Foreigners Without Vietnam Work Permits


Mar. 29 – Foreigners working in the country will be given until July to apply for a work permit or risk being deported based on a new draft regulation from the Ministry of Labor, War Invalids and Social Affairs. Foreign nationals who have been working in Vietnam for more than three months without a work […]

Maximizing Import Duty Exemptions in Vietnam


By Joyce Roque Mar. 17 – Foreign investors in Vietnam may need to import components of their business not readily available in the local market. Import duty rates regularly change so it is best to always keep abreast with the latest rates. Authorities however prefer businesses that do not import majority of their manufacturing needs […]

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