Other Briefings
HCMC to Maintain Real Estate Prices
Dec. 4 – Authorities are determined to maintain real estate values in Ho Chi Minh City to maintain stability and avoid the market from overheating. In a new proposal only 17 of the city’s 2,890 streets will have their prices adjusted for 2010. The priciest piece of real estate is still Dong Khoi, Nguyen Hue […]
Virtual Offices Concept Face Government Resistance
Nov. 27 – Government agencies have been slower to accept the virtual office concept leading to delayed processing times for tax and registration documents that use a virtual office address. Virtual offices are a popular option for small businesses because it provides all related business needs from a phone number to a business mailing address […]
HCMC Cuts Electricity to 51 Companies Due to Environmental Violations
Nov. 23 – Ho Chi Minh City authorities have cut electricity to 51 businesses last week as punishment for their environmental violations reports Thanh Nien News. The city gave an ultimatum that blacklisted business will not be reconnected again unless they clean up and stop damaging the environment. The 51 firms were found to be […]
Ho Chi Minh City Included in Top Cities for Software Testing
Nov. 20 – Strategic advisory firm, Tholons has included Ho Chi Minh City in its annual report of Top 6 Established Global Outsourcing Cities for Software Testing for the second year in a row. The city located in South Vietnam was also named in Tholon’s list of Top 10 Offshore Nations, Top 50 Emerging Global […]
AirAsia Launches HCMC-Phuket Route
Nov. 12 – Malaysia’s low cost carrier AirAsia has launched a new daily flight between Ho Chi Minh City and the famous Thai beach destination Phuket. It is AirAsia’s first direct flight shuttling from Ho Chi Minh City and Phuket. This route would include a “mixture of leisure seekers and business travelers,” Thai AirAsia’s chief […]
Business License Issuance Delayed in Congested Areas of HCMC
Nov. 5 – The government has opted to temporarily suspend issuing business licenses to congested areas in Ho Chi Minh City as a way to alleviate worsening traffic. Businesses that attract crowds like supermarkets and foreign language centers will be restricted as well as possibly wedding service providers. In addition, parking in traffic prone areas […]
HSBC Increases Stake in Top Vietnam Insurer to US$105 Million
Oct. 28 – Banking giant HSBC has raised its stake in one of the country’s leading insurance and financial services group to 18 percent for US$105 million. The increased investment on Bao Viet Holdings is in line with HSBC’s overall strategy to expand into emerging Asian markets. HSBC first bought a 10 percent stake in […]
Guangdong Companies Sign 24 Deals in Hanoi Trade Forum
Oct. 23 – Guangdong companies signed 24 projects worth US$723 million during a trade forum in Hanoi on October 20. “Vietnam will do its best to further develop this relationship, including efforts to boost economic, commercial and investment ties with Guangdong province,” Vietnam’s Deputy Prime Minister Pham Gia Khiem was quoted as saying by Nhan […]
New Capital Gains Tax Hinders Real Estate Sales
Oct. 21 – Vietnam’s newly enforced 25 percent capital gains tax has affected demand in Ho Chi Minh City’s real estate market. Beginning September 26, a real estate buyer wanting to transfer the right to own a property to another person will have to pay a 25 percent capital gains tax or a 2 percent […]
Hau Giang Province Offers Investment Incentives
Oct. 20 – Hau Giang Province located south of Can Tho City and and 240 kilometers of Ho Chin Minh City is offering incentives to attract more investors. Investors in the province will be qualified for zero import and export taxes, a 15-20 percent tax reduction on revenue from 10 to 12 years and bank […]
