Other Briefings
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 […]
Banks Accept 15 Percent Ceiling on Deposit Interest Rates
Dec. 22 — Twelve commercial banks in Hanoi entered an agreement with the State Bank of Vietnam’s Hanoi branch and the Vietnam Banking Association (VNBA) to cap deposit interest rates at 15 percent. The agreement, which takes effect immediately, was struck after news broke that Techcombank and SeABank were offering interest rates as high as […]
Vietnam Decreases Import Tax on Liquefied Petroleum Gas
Dec. 21 – Vietnam decreased its import tariff on liquefied petroleum gas (LPG) on Friday from 5 percent to 2 percent. A circular from the Finance Ministry said the move was aimed at stabilizing gas prices after a period of sharp fluctuations.
Vietnam Central Bank Slashes Reserve Ratios for Some Banks that Lend to Agriculture
Dec. 15 – Vietnam’s Central Bank said Thursday that it was cutting the reserve ratios of five lenders that all have a large amount of capital loaned to the country’s agricultural sector. The central bank said the reserve ratios of the country’s top lenders Agribank, Vietnam International Bank, Kien Long Bank and Mekong Housing Bank […]
State Bank of Vietnam, HSBC Vietnam Hold Talks on Bringing Derivatives to Vietnamese Capital Markets
Dec. 14 – The State Bank of Vietnam and HSBC Bank held a joint meeting on derivative products, the adoption of which the central bank considers important in integrating Vietnamese capital markets more closely with the rest of the world. The aim of the workshop was to share experiences in using and managing derivatives, and […]
Vietnamese Banks Encouraged to Use High-Technology Products
Dec. 10 – Presenting an opportunity for investors, Vietnam’s banking industry seeks to apply more advanced information technology and security infrastructure in the near future, the government said on Thursday. “Developing more useful banking services, widening the use of the new Point of Sale (POS) for plastic money, and seeking more idle capital in rural […]
Vietnam Calls for Increased Investment in Agriculture and Rural Development
Dec. 8 – The Ministry of Agriculture and Rural Development held a conference in Quang Binh Province on December 6 to call for further investment into the agricultural and rural development sectors in six north-central provinces, from Thanh Hoa to Thua Thien-Hue. From 2011 to 2020, provincial governments will request businesses to step up investment […]
PM Calls for Regular Submission of Statistical Reports
Dec. 3 – Vietnam’s prime minister has approved a new regulation that will make it mandatory for state-owned enterprises (SOEs) and foreign invested companies and projects to issue regular statistical reports. Following Decision 77/2010/QD-TTg, wholly state-owned companies, state-owned corporations and their subsidiaries, and joint-stock and limited companies with 50 percent of their charter capital government […]
New Issue of Vietnam Briefing: Understanding Vietnam’s Legal Environment
Nov. 30 – In this new issue of Vietnam Briefing we look at the legal environment for establishing a business in Vietnam as a foreign investor. There are basically two laws that govern foreign direct investment in Vietnam: the Unified Law on Enterprises and the Common Law on Investment. We examine these two laws and […]
Vietnamese Commercial Banks Increase Interest Rate for Deposits, Lending
Nov. 26 — Several Vietnamese commercial banks increased interest rate returns on dong deposits to 13 percent per year, as well as offered other incentives to attract new customers and retain existing ones. HDBank and Southeast Asia Commercial Bank are two banks that now offer 13 percent on dong deposits of 12 months or more. […]
