-
Vietnam Works to Modernize Customs Procedures
Dec. 6 – In an effort to modernize its customs sector, Vietnam’s government is looking to strengthen relationships with foreign enterprises over the next two years. Last week, the Investment and Trade Promotion Centre of Ho Chi Minh City held a dialogue with more than 220 representatives from Vietnam’s General Department of Customs and foreign-direct […]
-
World Bank Bi-Annual Assessment: Vietnam
Dec. 4 – The World Bank (WB) released its bi-annual assessment of Vietnam’s economy Monday, projecting that the country’s macroeconomic stability will continue to improve considerably in the medium-term. The report entitled The Taking Stock estimates that Vietnam’s GDP will continue to grow 5.5 percent by 2015. If the country continues to move forward with […]
-
Asian Development Bank Assists Small and Medium Enterprises in Vietnam
Dec. 2 – Last week, the Asian Development Bank (ADB) agreed to provide Vietnam with a US$50 million loan to foster the sustainable growth and development of small and medium-sized enterprises (SMEs) operating in the country. The loan will last 25 years with a low annual interest rate of 2 percent. SMEs have become key […]
-
Vietnam Set to Increase Minimum Wages from December 31, 2013
The government last week passed a new decree that will increase minimum wages throughout Vietnam as of December 31, 2013, which will be effective for enterprises, co-operatives, household businesses, foreign companies and international organizations operating in the country.
-
Vietnam Revises Constitution
Nov. 28 – This week, the Communist Party of Vietnam (CPV) is expected to approve a number of revisions to the Vietnamese constitution that will tighten government control over the economy and reaffirm the dominance of state companies. While CPV leaders initially suggested the constitutional changes would push Vietnam’s economy towards a more market-oriented system, […]
-
Vietnam Promotes Investment in the Mekong Delta
Nov. 27 – On November 25th the Mekong Delta Investment Promotion Conference took place in Vinh Long province. The conference called for investments in more than 130 projects in the Mekong Delta. According to Chairman Nguyen Van Diep of the Vinh Long Provincial People’s Committee, the purpose of the conference was to create “a space for […]
-
Vietnam’s Infrastructure: Hanoi
Nov. 25 – As a transport hub of the Red River Delta, Hanoi features a large network of waterways, railways and highways connecting the region. Infrastructure development has been a priority in the city, with the local government taking steps to ensure that the continued flow of goods and investment into the city can be […]
-
Foreign Investors Soon To Be Allowed VND Bank Accounts
HANOI – International investors and foreign direct investment enterprises operating in Vietnam may soon be allowed to open investment accounts in Vietnamese dong thanks to a draft circular passing through the State Bank of Vietnam (SBV) this week. This comes as the central bank overturns its previous draft law to replace Decree 160, which guides […]
-
New Issue of Asia Briefing: The 2014 Asia Tax Comparator
In this issue, we examine the different tax rates in 13 Asian jurisdictions – the 10 countries of ASEAN, plus China, India and Hong Kong. We examine the on-the-ground tax rates that each of these countries levy as well as residency triggers, available tax incentives for the foreign investor, and important compliance issues.
-
City Spotlight: Hanoi
Lying on the right bank of the Red River in northern Vietnam, approximately 85 miles inland from the South China Sea, is the charming capital city of Hanoi. Despite the recent economic crisis, Hanoi remains one of the fastest growing cities in Vietnam, with its economy expanding 7.88 percent during the first 10 months of this year.