Other Briefings
Vietnam-United States Container Service to Start June 4
May 19 – Singaporean shipper APL will begin weekly direct container shipping service between Vietnam and the western coast of North America on June 4. “This is the beginning of a new era for trade with Vietnam and marks its increased importance as a manufacturing and export center,” Eng Aik Meng, President of APL, told […]
GE Begins Construction of US$61 Million Plant in Haiphong
May 13 – General Electric has begun building a US$61-million manufacturing plant in Haiphong City. The plant, located 100 kilometers east of Hanoi in the Red River Delta, will be making components for other GE manufacturing and service facilities around the world while also providing installation, maintenance and repair services for the components.
HCMC Rentals Hit by Lower Demand
May 12 – Office and serviced apartment rentals have been dropping in Ho Chi Minh City during the first quarter of the year because of continuing weak demand brought by the economic downturn, reports real estate services firm CB Richard Ellis (CBRE). For Grade-A buildings, rents have plunged by 20 percent to an average of […]
South Korean Firms Cite Misunderstanding of Tax Laws
May 11 – During a meeting with finance ministry officials, South Korean executives explained that Korean companies doing business in Vietnam can sometimes disregard new corporate tax and customs regulations because of misinterpretation. The deputy general director of Lotteria Vietnam, Dao Manh Ha, said that Korean firms generally respect Vietnamese laws but are sometimes confused […]
Vietnam to Upgrade its International Airports
May 6 – Vietnam plans to establish ten international airports across the country through the expansion of existing facilities and the construction of new ones, according to a recent zoning plan released by government authorities in Ho Chi Minh City. The plan, drawn up by Vietnam’s Ministry of Transportation, will include renovations and massive upgrades […]
Investment Disbursement in HCMC is Lagging
Apr. 30 – Despite Ho Chi Minh City being able to successfully attract foreign investment, the disbursement of it has been lagging so far. Vietnam’s economic hub, not including industrial parks and export processing zones, has attracted nearly US$26 billion in foreign direct investment since 1987 but only 39.6 percent of this amount, or US$10.1 […]
Vietnam Taking Precautionary Measures Against Swine Flu
Apr. 28 – At the recommendation of health experts, Vietnam has established precautionary measures to protect itself from the spreading H1N1 strain of swine flu virus currently affecting people in Mexico and the Unites States. The country’s disease-control agencies are on high alert and travelers entering the country are required to declare the current status […]
Japan’s FamilyMart to Expand in Vietnam
Apr. 27 – In a joint venture with Phu Tai Group, the Tokyo-based convenience store FamilyMart will set up its first store in Vietnam later this year. FamilyMart’s primary shareholder, the trading house Itochu Corporation, will assist with product development and distribution in the Southeast Asian country with the goal of establishing 300 stores by […]
Vietnam to Offer Better Conditions for Chinese Investors
Apr. 21 – The Vietnamese Government is promising better conditions for Chinese investors looking into doing business in the country. Prime Minister Nguyen Tan Dung said the statement during a Vietnam-China Business Forum held in Guangzhou city, adding that Chinese-invested projects in the country were going smoothly. A reported 600 Chinese-invested projects are now in […]
Tax Cut Proposal for Animal Feed Imports Submitted
Apr. 1 – Vietnam's Ministry of Agriculture and Rural Development has submitted a recommendation that the government decrease import taxes on animal feed for farmers struggling with costs.
The ministry has requested in its proposal that taxes should be slashed by fifty percent on finished feed products to 4 percent in addition to taxes on dry beans to 5 percent.
Moreover, it has also been proposed that various feed ingredients should be given a zero rate. Vietnam currently imports 49 to 52 percent of its ingredients for animal feed.
