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Binh Duong FDI Update
Foreign direct investment (FDI) into Binh Duong Province, in southern Vietnam, has seen strong growth in the first five months of 2014, reaching a registered US$815 million – 82 percent of the province’s yearly FDI target.
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Vietnam Mulls Taking China To Maritime Arbitration Court
Following in the footsteps of the Philippines, Vietnam is considering taking China to an international maritime court to resolve a simmering dispute over contested waters in the South China Sea (also known as the East Sea by Vietnam).
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Back to Business in Southern Vietnam after Riots
After rioting, many business leaders are optimistic government efforts to restore business confidence will allow for a return to business as usual.
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Enterprise Law 2005 Amendments Under Discussion
Amendments to the Enterprise Law 2005 are projected to be passed at the 13th National Assembly this October. These draft amendments have received significant attention and opinions from related departments, economic experts and enterprises.
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Circular 39/2014 Issued on Invoicing Regulations in Vietnam
Vietnam’s Ministry of Finance has issued Circular 39/2014 to provide guidance on invoicing regulations, replacing Circular 64/2013. The new Circular will come into effect from June 1, 2014. The content in the new Circular regards amendments to invoice self-printing and the tightening of the scope of entities allowed to self-print invoices.
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Ho Chi Minh City Cracks Down on Work Permits
The Ho Chi Minh City Department of Labor, War Invalids, and Social Affairs has announced that foreign workers in the city will have to apply for new work licenses when their work permits expire and will not be able to get an extension.
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Vietnam to Pursue Draft Amendments to Business Laws
Vietnam’s government is seeking to issue draft amendments to a number of laws in order to help streamline business activities and make existing regulations easier to understand. These laws include the Law on Enterprises, the Bankruptcy Law, and changes to regulations surrounding the Law on Social Insurance.
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Tensions Rise as Vietnamese Boat Sinks in Disputed Seas
Vietnam has claimed that one of its fishing boats has been sunk by a Chinese vessel. The 10 fishermen aboard the vessel were rescued by other Vietnamese ships in the area, and there were no injuries, according to an official government statement posted on its website.
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McDonald’s to Expand Operations in Vietnam
In a clear sign of the strength of Vietnam’s growing consumer market, McDonald’s has announced plans to open a total of 4-5 restaurants in Ho Chi Minh City this year, as part of an ambitious goal for around 100 restaurants in Vietnam in the next decade.
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Strong Growth for Vietnam’s Footwear Industry
The General Statistics Office of Vietnam (GSO) has announced that the country’s exports of footwear have seen an increase of 21.9 percent year-on-year, reaching US$2.85 billion. This rise is attributable to rising consumption and improvements in standards of living in countries around the world, most notably in the European Union (EU).