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Vietnam Sees Increase in FDI
Aug. 2 – Within the first seven months of 2013, Vietnam has managed to attract over US$12 billion in foreign direct investment (FDI) – a 19.6 percent year on year increase. Furthermore, nearly US$7 billion of the FDI came in as newly registered funds, up 10 percent year on year. Of Vietnam’s total FDI inflows, an […]
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Vietnam Establishes Management Firm to Buy Bad Debt
Aug. 1 – Last week, in a move to try to fix its credit-starved economy, Vietnam officially launched the Vietnam Asset Management Company (VAMC) by way of Decree 53/2013/ND-CP. The VAMC will essentially buy up any bad debts that its country’s banks hold. The VAMC, colloquially known as the “bad debt bank”, finally commenced operations […]
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M&A Deals to See Continued Growth in Vietnam
Jul. 29 – Merger and acquisition (M&A) activity in Vietnam is expected to remain high in the coming years according to a Vietnam M&A Forum research group. Transaction activity is projected to grow at a rate of 25 to 30 percent per year over the next five years, with total value reaching US$4 billion by […]
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Vietnam Tourism on the Rise
Jul. 24 – Vietnam has seen its tourism industry rising as of late, with foreign tourist arrivals in the first half of this year already reaching upwards of 3.5 million – a 2.6 percent year-on-year increase. Over 567,000 people came to the country last month in June, up 1.5 percent from the previous month of […]
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McDonald’s Expands into Vietnam
Jul. 22 – McDonald’s Corporation is expanding its fast food franchise into the Vietnamese market, according to a press release issued by the company last week. The first McDonald’s restaurant will open next year in Ho Chi Minh City under the management of Developmental Licensee (DL) Henry Nguyen, founder of Good Day Hospitality. “McDonald’s is […]
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Regional Spotlight: Vietnam’s Southeast (Ho Chi Minh City)
Jul. 18 – Home to Ho Chi Minh City (HCMC), Vietnam’s largest city, the Southeast region has long been a focus of the country’s foreign investment inflows thanks to its impressive growth fueled by a massive energy sector and a thriving manufacturing sector. HCMC is also Vietnam’s commercial center, and accounts for a large share […]
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Vietnam Amends Law on Enterprises
In a move widely regarded as a welcoming message from the National Assembly to foreign investors looking to expand their business activities in the country, the Vietnamese government recently passed an amendment to Article 170 of the Law on Enterprises.
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National Wage Council Established in Vietnam, Minimum Wage Rises
Jul. 16 – Last month, Vietnamese Prime Minister Nguyen Tan Dung approved Decree 49/2013/ND-CP, which commissioned the establishment of a National Wage Council to oversee national wage levels throughout the country. The National Wage Council, which was officially established this week, will replace the Ministry of Labor as Vietnam’s minimum wage oversight body and will […]
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Vietnam’s Tourism Industry in Trouble?
Jul. 12 – Vietnam’s tourism industry has seen consistent growth over the past several years following an inflow of foreign investment starting in 2008, but trouble seems to be looming over the horizon for this important sector. During the last decade, the tourism industry has contributed upwards of 6 percent annually to Vietnam’s total GDP. […]
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New Issue of Asia Briefing: An Introduction to Tax Treaties Throughout Asia
In this issue of Asia Briefing Magazine, we look at the various types of trade and tax treaties that exist between Asian nations. These include bilateral investment treaties - which are somewhat unfashionable, yet still the major focal point of bilateral trade between many smaller emerging nations - and also the meatier double tax treaties and free trade agreements that directly affect businesses operating in Asia.