Other Briefings
Higher Fuel Prices Proposed to Combat Smuggling
Mar. 24 – Oil companies and authorities in the southern provinces have recommended that fuel prices be raised in Vietnam to combat smuggling into neighboring Cambodia, where fuel is much more expensive. The Ministry of Industry and Trade said A92 gasoline in Vietnam is VND19,300 per liter, while the price in Cambodia hovers around VND24,000.
New Changes in Vietnam May Affect Foreign Investors
New rules outline ratio of charter capital in SOEs Mar. 23 – In newly-signed decision 14/2011/QDTTg, Vietnam’s government will limit its holdings of 50 percent of the charter capital of power production companies that are bigger than 500 megawatts. The state will continue to hold 100 percent of the charter capital in businesses involved in […]
Vietnam to Cut Import Duties to 15 Percent
Vietnam’s Finance Ministry plans to cut import duties to 15 percent in April. Currently, the tariff on refined sugar is 40 percent, while raw sugar is taxed at 25 percent.
Vietnam’s MOF to Update Finance and Real Estate Regulatory Frameworks
Feb. 28 – Vietnam’s finance and real estate regulatory frameworks are set to undergo changes in the coming months, according to the Ministry of Finance. New amendments to securities regulations to come into effect in July will allow companies and investors to negotiate investments in terms of cash or assets, contingent upon the mutual approval of contracts and price agreements […]
Vietnam to Raise Power Prices by 15%
Feb. 22 – Vietnam recently announced that the government has decided to raise the country’s power price by a record 15.3 percent, up from the current VND1,077 per kw/h to VND1,241 per kw/h, starting March 1, 2011. The government said it had made the price hike as small as possible after considering both the cost […]
Updated Rules for Small Business Loans to Take Effect February 25
Feb. 17 – The Prime Minister issued decision 03-2011-QD-TTg on January 10, regulating loan guarantees for small and medium-sized enterprises (SMEs). The decision attempts to standardize procedures for the Vietnam Development Bank to issue guarantees for commercial bank loans to SMEs.
Vietnam Amends VAT Regulations for SMEs
Jan. 25 – Vietnam’s government recently approved a proposal to extend the declaration time of value added tax (VAT) for small and medium enterprises (SMEs) and family businesses, removing cumbersome elements of the country’s tax code for emerging entrepreneurs. Under Resolution 68/NQ-CP, which takes effect this month, SMEs will only need to declare VAT every […]
Vietnam Lowers Import Duties on Petroleum Products
Jan. 19 – Vietnam’s Ministry of Finance lowered import duties for petroleum products from January 14 onwards, according to the ministry’s web site. The import tax for gasoline was cut to 0 percent from 6 percent, and the tax on diesel was decreased to 0 percent from 2 percent. The tax on kerosene was reduced […]
Fuel Firms in Vietnam Allowed to Withdraw from Price Stabilization Fund to Prevent Further Price Increases
Jan. 17 – The Vietnamese Finance Ministry is permitting domestic fuel traders to withdraw money from the national price stabilization fund to offset the increasingly high price vendors are paying for imported oil. The vendors have been told to keep prices stable. Since November 2010, domestic companies selling fuel have taken VND1,200 (US$.06) from the […]
New Rules and Regulations Effective Jan. 1 in Vietnam
Jan. 10 – Beginning January 1, 2011, several new rules have come into effect. Minimum wage increase Minimum wages at both local and foreign firms in Vietnam have increased by VND100,000 and VND370,000 per month, respectively. Depending on region, with urban areas having a higher minimum wage, local companies are required to pay a monthly […]
