Other Briefings
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 […]
Law on Commercial Arbitration Effective 2011
Sept. 3 – In June, Vietnam updated its law on commercial arbitration to give investors another option to resolve both contractual and non contractual disputes beginning January 1, 2011. The Law on Commercial Arbitration, also referred to as Law 2010, is a step forward towards aligning Vietnamese regulations to international standards. The new law improves […]
Personal Income Tax Finalization for Expats
Sept. 2 – Expatriate employees leaving the country must finalize their personal income tax requirements within 45 days after the termination of their work contracts in Vietnam according to Circular 60/2007/TT-BTC. Failure to finalize tax requirements will be subject to the following penalties:
Use of Digital Signatures Encouraged
Aug. 25 – Vietnam’s Ministry of Industry and Trade and the Ministry of Information and Communications encouraged the use of digital signatures for government agencies and companies during a workshop held in Ho Chi Minh City on Tuesday. The use of digital signature will pave the way for the development of electronic commerce in the […]
First Vietnam WTO Trade Policy Review Set for 2012
Aug. 23 – Vietnam’s first trade policy review (TPR) is set for 2012 following the requirements of its membership in the World Trade Organization. The Ministry of Industry and Trade announced the schedule of the TPR during a seminar held in Hanoi on August 12. WTO members are all required to conduct regular TPRs and […]
Vietnam Currency Devalues, Drops to Record-Low
Aug. 18 – Vietnam’s currency, the dong, dropped a further 1.1 percent to VND19,320 against the U.S. dollar from VND19,425 earlier as part of government efforts to rally economic growth and increase exports, said economists. Yesterday, the central bank let the dong’s daily reference rate slip by 2 percent to VND18,932 per dollar. “The main […]
