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IT Parks in Vietnam: Present and Future
Vietnam, home to seven IT development zones, will soon see construction begin on an additional 19 parks, in an effort to attract greater investment into tech development.
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Second Round of M&A Activity Expected in Vietnam as Investors’ Interest Grows
Vietnam is awaiting a second wave of M&A activity, with the total value of deals expected to reach US$20 billion between 2014 and 2018.
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Japan to Help Vietnam Build-up Four Key Industries
On July 31, the Prime Minister of Vietnam approved four action plans under the framework of Vietnam-Japan cooperation through 2020 with a vision to 2030. According to these plans, the two countries will work together on the implementation of the Vietnam Industrialization Strategy. This strategy will focus on four industries: electronics, agricultural machinery, agro-fishery processing, and environmental industry and energy conservation.
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Tax, Accounting, and Audit in Vietnam 2014-2015
Tax, Accounting, and Audit in Vietnam 2014-2015, which is out now and available for download in the Asia Briefing Bookstore, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when operating a business in Vietnam, as well as other tax-relevant obligations.
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Intel Builds First Made-in-Vietnam CPU
On July 29, Intel announced that it had produced the first made-in-Vietnam CPU. By the end of this year, Intel expects to manufacture 80 percent of their CPUs for the world market in Vietnam.
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Vietnam Could Become World’s Largest Coffee Producer and Exporter
Vietnam could become the world’s largest producer and exporter of coffee. Currently, the country is the world’s second largest coffee exporter, behind only Brazil. However, many experts believe that Vietnam has the potential to overtake Brazil thanks to its favorable climate conditions, lower cost production and a bumper coffee crop.
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Ben Luc – Long Thanh Expressway to Link Long An and Dong Nai Provinces
On July 19, 2014, construction began on the Ben Luc – Long Thanh expressway. The four lane road will link Long An Province, in the Mekong Delta, with southern Dong Nai Province. The project, which has an investment capital of US$1.5 billion, is scheduled to be finished in 2018.
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Foreign Invested Firms Dominate Vietnam’s Garment and Textile Industry
Despite their small overall number, foreign direct invested (FDI) firms account for 60 percent of Vietnam’s total garment and textile export revenue. According to the Vietnam Textile and Apparel Association, there are 3000 garment and textile firms in Vietnam - 25 percent of which are FDI firms.
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Real Estate Attracts High Level of FDI into Vietnam
With 20 newly licensed projects worth a total US$1.13 billion, Vietnam’s real estate sector has attracted the second highest amount of foreign direct investment in the country.
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Foreign Companies Report Labor and Skills Shortage in Vietnam
Despite a still recovering economy, demand for workers in Vietnam is seeing strong growth. However, supply and skills have not kept up with this increasing need.