Other Briefings
Vespa Factory to Open in Vietnam
Jun. 26 – Italy’s Piaggo is opening a new US$30 million Vespa factory in Vietnam to manufacture their 125 and 150 cc scooters. Piaggio is Europe’s biggest maker of two-wheeled vehicles and the fourth largest motorcycle manufacturer in the world. The plant is forecast to produce 100,000 scooters to be sold in the country and […]
FDI Drops by 77 Percent for First Half of the Year
Jun. 25 – According to a Vietnamese foreign investment official, foreign direct investment (FDI) in the country plunged by 77.4 percent to US$8.87 billion for the first 6 months of the year. Figures compiled by the agency showed that only US$4.7 billion worth of new projects were licensed during the period, a 86.7 percent in […]
State-owned Companies to Equitize by 2010
Jun. 24 – State-owned companies in the country will be shifted into a limited liability or joint stock companies under Enterprise Law by July 2010, said the Vietnamese Prime Minister Nguyen Tan Dung According to the new directive, state-owned companies will be evaluated based on its geographic location, brand name and potential. The directive adds […]
New FDI Rules Released
Jun. 23 – Vietnam has approved the newest regulations regarding foreign capital investment in the country effective August 15. The regulation is made up of 4 chapters and 13 articles and is known as Decision No.88/2009/QĐ-TTg. It lays down the rules for foreign investors wanting to contribute capital or buy shares in local companies as […]
Personal Income Tax Exemption Approved
Jun. 22 – Vietnam’s National Assembly voted in favor of the Personal Income Tax (PIT) exemption from the period beginning July 1. The ministry is expected to release a follow-up announcement detailing the coverage of the exemption. The directive should specify the residency status subject to tax exemption, types of income subject to tax exemption […]
Vietnamese Exports to the U.S. Grows Despite Trend
Jun. 19 –Vietnamese exports to the United States grew by 3 percent to US$3.75 billion, one of the only 30 countries whose shipments increased for the first four months of the year. The rise in exports was mainly driven by clothing and footwear industry. According to the U.S. International Trade Commission, China’s exports dropped by […]
Phu Bai to Upgrade to an International Airport
Jun. 19 – The Phu Bai airport located in the central province of Thua Thien-Hue will be developed into an international airport beginning this year until 2020. According to the plan submitted to the Ministry of Construction and the Ministry of Transport, the airport will have an area of 42,000 square meters, serving 4,000 passengers […]
Vietnam Approves US$438 Million Railway to Cambodia
Jun. 18 – Vietnam is set to build a 128.5 kilometer railway linking Ho Chi Minh City to the border with Cambodia at a cost of US$438 million. Construction will begin next year. The railway will form part of the Trans-Asia Railway linking Singapore and Kunming, China, the Ministry of Transport said in a statement. […]
Telecom Market to Open in 2012
Jun. 17 – Vietnam has announced it would fully open its telecom market to overseas investment following international practices and its obligation under the World Trade Organization by 2012. The draft bill for the new telecom law is expected to be submitted by this month. Local telecom companies have until 2012 to maintain 51 percent […]
Hanjin Shipping to Launch Direct Vietnam-U.S. Service
Jun. 16 – South Korean shipping company, Hanjin Shipping (HJS), will launch a direct service between Vietnam and the United States on June 21; the third major container line to do so. The new service is called the South East & Japan Express (SJX) and will focus on the Vietnamese and South East Asian markets […]
