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Foreign Logistics Firms See Success in Vietnam
While their presence is still small, foreign logistics firms are seeing increasing success and growth in Vietnam. As the country’s economy continues to grow, these firms are expected to continue to increase their level of investment and footprint on the ground in Vietnam.
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Marks & Spencer to Join Vietnam Retail Market Competition
British retailer Marks & Spencer has announced plans to enter Vietnam’s retail market this summer with the opening of a flagship in Ho Chi Minh City. In the long-term, their company plans to open at least 20 stores in Vietnam by 2020.
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Private Equity Investors Increasingly Bullish About Vietnam
2014 looks to be a promising year for PE investment into Vietnam. Higher prices for companies in North America and political and regulatory risks in China are leading private equity investors to emerging markets like Vietnam.
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Vietnam Q2 Growth Quickens on Back of Dong Devaluation
Vietnam’s economic growth quickened in the second quarter as exports improved after the first devaluation of the dong, Vietnam’s currency, in 2014.
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Vietnam Could Loosen Work Permit Rules for Foreigners
On July 8, 2014, after intense criticism from the expat community and foreign businesses, the Vietnamese government issued Resolution 47, which is intended to improve the work permit conditions for foreigners working in Vietnam.
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Vietnam and the World Bank to Collaborate on Higher Economic Growth
Vietnam and the World Bank Group have announced an agreement to conduct a joint study which will recommend policy actions aimed at increasing the rate of economic growth in Vietnam over the coming years.
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Vietnam Issues Circular 78 on Corporate Income Tax Incentives and Deductions
On June 18, 2014, Vietnam’s Ministry of Finance published Circular 78, which provides additional guidance regarding Decree 218 on corporate income tax incentives and deductions. The Circular will come into effect on August 2, 2014 and will be effective for the whole 2014 tax year.
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Samsung to Aid Vietnam in the Creation of Domestic Support Industries
The South Korean electronics group Samsung has agreed to cooperate with the Vietnamese government in order to help develop the country’s domestic support industries.
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Rising Costs in China’s Pearl River Delta Causing Manufacturers to Look to Vietnam
China’s Pearl River Delta (PRD), long known as one of the key factory centers for the world’s manufacturers (particularly those from Hong Kong) has now become too costly for many companies to stay in the region.
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Vietnam’s 12th Draft Law of Residential Housing Expected to be Favorable Towards Foreigners
At a National Congress meeting on June 18th, many Congressmen expressed their approval towards the 12th Draft Law of Residential Housing, which proposes more opportunities for foreign organizations and individuals who wish to purchase housing in Vietnam.