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Exporters Urged to Increase Focus on Germany
Dec. 29 – There is still much potential in the German market for Vietnamese exporters to explore, said participants in a conference held in Ho Chi Minh City on Tuesday. While Germany has grown into one of Vietnam’s major trading partners since 2007, the current export volume to the European country is still modest compared […]
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Businesses in Hanoi Asked to Pay VND4 Trillion in Tax Due
Dec. 29 – Businesses in Hanoi still owe more than VND4 trillion in taxes this year, and the government has urged them to pay it back. Thai Dung Tien, deputy head of Hanoi Tax Department, said that around 86.5 percent of the taxes (VND3.5 trillion) is collectable. However, 3 percent of the money will prove […]
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Business Registration Set to be Streamlined
The Ministry of Planning and Investment (MPI) of Vietnam has recently drafted a circular pertaining to an online registration initiative for start-up businesses that aim to streamline the establishment process.
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Vietnam Briefing Now Accessible in Mobile App
Free App Brings Vietnam Briefing to Your Fingertips Dec. 16 – The brand new Asia Briefing mobile application brings the latest business news and foreign investment insights from Vietnam Briefing web site right to your fingertips. The free app integrates with legal and tax regulatory updates from Dezan Shira & Associates, along with China, India, […]
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Vietnam’s Bank Restructuring a Big Opportunity for Foreign Investors
By Lorenzo Martelli Dec. 14 – Increases in the ownership ratios that foreign strategic partners can hold at Vietnamese joint stock banks, encouragement for the merger of weak banks, and not increasing the chartered capital are the main points of the European Chamber of Commerce (EuroCham)’s proposal when talking about bank restructuring. Decree No. 69/2007/ND-CP […]
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Vietnam Drawing Increasing Interest from Italian Investors
Dec. 8 – Trade and investment between Italy and Vietnam has increased steadily over the last 10 years. According to statistics issued by the Government of Vietnam, Italian FDI projects amounted to US$187 million in 39 projects at the end of 2010. The manufacturing industry still has the biggest share amid Italian FDI, even though […]
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Lower Rent for Manufacturers and Environmental Tax Exemptions
The Vietnamese Government issued Decision No. 2093/QD-TTg to reduce businesses' land use rental costs for 2011 and 2012. A 50 percent reduction in rentals for leased land will be enjoyed by firms conducting manufacturing businesses.
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World Bank Forecasts 6% Growth for Vietnam
Nov. 29 – According to the report East Asia and Pacific Economic Update released by the World Bank on November 21, Vietnam’s gross domestic product (GDP) will increase 6.1 percent next year. The recent forecast confirms Prime Minister Nguyen Tan Dung’s expectations of 6 percent to 6.5 percent growth for 2012, which he announced at […]
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Vietnam to Cut Income Tax By 30% for Small Business
On November 4, 2011 the government enacted Decree 101/2011/ND-CP presenting tax incentives to help enterprises and individuals survive in the current high level of inflation in Vietnam.
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Vietnam’s National Assembly Approves 2012 Salary Increases
Nov. 15 – On November 10, the Vietnamese National Assembly approved VND59.3 trillion (US$2.83 billion) in salary increases starting from May 1, 2012. Under the recent resolution, minimum salaries for state employees will be increased to VND1.05 million (US$51) per month. The current minimum wage for state employees is VND830,000 (US$40), established by Decree No. […]