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Vietnam Top Investor in Laos and Cambodia
Feb. 23 – Vietnam was announced as the largest foreign investor in Laos this week, with a total of US$4.9 billion invested through 429 projects in Laos since 1989. Thailand is second with US$4 billion invested across 742 projects, while China came in at third with US$3.9 billion across 801 projects. The other main investors […]
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Investment in Vietnam Remains Steady Despite Lagging Economy
Feb. 21 – Vietnam’s current economic worries are expected to continue in 2013, yet many businesses still maintain confidence and optimism in expanding their investments. In the fourth quarter of 2012, 37% of Vietnamese citizens believed that the employment outlook was either good or very good. 40% of citizens responded in the same vein during […]
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Hiring Foreign Staff to Work in Vietnam
Feb. 19 – The number of foreign laborers coming to Vietnam for work has steadily increased in recent years, from 52,633 people in 2008, to 55,428 in 2009, and 56,929 in 2010. However, by September 2011, the number of foreign workers in Vietnam had surged to 78,440 people. A large portion of the foreign workers […]
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Inflationary Pressure Continues to Build in Vietnam
Feb. 14 – Data from the General Statistics Office of Vietnam has shown that inflation has accelerated from 6.81 percent in December up to 7.07 percent in January, while consumer prices gained 1.25 percent in January (the sharpest monthly gain in four months). Furthermore, the price of health care and pharmaceuticals surged 55.6 percent, education […]
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High-Technology Law in Vietnam Sets High Investment Requirements
Feb. 13 – “Science and technology, along with education, have always been priorities in our national policy, but the [law on high technology] is the first legal document that institutionalizes that policy,” remarked Nghiem Vu Khai, Vice Chairman of the National Assembly’s Committee for Science, Technology and the Environment, in July 2009. It was at […]
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The Emergence of Vietnam’s E-commerce Market
Feb. 11 – Research has shown that Vietnam’s e-commerce market, which totaled approximately US$300 million in 2011, is expected to grow at an average rate of 75 percent per year between 2011-2015 to reach upwards of US$2.8 billion by 2015. While this may seem largely optimistic, several factors regarding supply and demand influence this huge […]
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Update: Personal Income Tax Finalization for Foreigners in Vietnam
Feb. 7 – On January 15, the Vietnam General Department of Taxation issued Official Letter 187/TCT-TNCN (OL187) to provide guidance on the finalization of personal income taxes (PIT). Some of the key updates can be found below. 183 Day Rule Foreigners who work in Vietnam do not have to pay PIT if they spend fewer […]
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Trans-Pacific Partnership Agreement to Boost Vietnam–U.S. Textile Trade
Feb. 6 – The proposed Trans-Pacific Partnership (TPP) is likely to have a positive impact on Vietnamese exports to the United States, and will boost the performance of Vietnam’s export processing zones. The TPP is an agreement that will seek to create a large free trade zone, linking together key players among the Pacific economies.
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Annual Reporting for Representative Offices in Vietnam
Feb. 5 – One of the simplest and most common ways for foreign businesses to develop a presence in a potential market is to open representative offices (ROs). As the legally permissible business lines for ROs differ from foreign-owned entities (FOEs), namely that ROs are not allowed to directly conduct profit-generated business activities, the annual […]
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Vietnam Airlines IPO Date Set
HANOI – According to the Vietnamese government, and in line with its state-owned enterprise (SOE) restructuring plans, national carrier Vietnam Airlines is set to list its shares in its first initial public offering (IPO) towards the end of 2013. The move will see the government’s stake in the airline drop to 70 percent, and is […]