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Vietnam to Implement Single Window Customs Mechanism
Sept. 19 – Prime Minister Nguyen Tan Dung has decided to simplify procedures concerning exporting, importing, and transiting goods and means of transport in the period 2011- 2014 by implementing the “National Single Window Customs Mechanism” pilot program. The new system will allow all stakeholders involved in importation and exportation to submit or send standardized […]
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New Regulations in Fuel Trade for Companies
Sept. 15 – According to the information provided by the Ministry of Finance (MoF), domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws. All fuel-trading activities between traders and producers will be to operate in accordance with General Department of Customs procedures.
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SBV Proposes New Regulations for FDI in Credit Institutions
By Francesca Grassi Sept. 14 – The State Bank of Vietnam (SBV) has recently elaborated a (third) “Draft Decree” regulating foreign shares in Vietnamese commercial banks: if the new guidelines receive the placet of the government, Decree 69/07 ND-CP (dated April 20, 2007) on foreign investors’ acquisition of shares in Vietnamese institutions will be superseded […]
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Vietnam Reforms the Law of Foreign Employment in the Country
By Francesca Grassi Sept. 7 – On June 17 of this year, the Vietnamese government issued Decree n.46/2011/ND-CP (effective from August 1, 2011) amending and supplementing Decree n.34/2008/ND-CP dated March 25, 2008 on the employment and administration of foreigners working in Vietnam. The new legislation aims at improving the ineffective implementation of foreign labor regulations […]
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Vietnam’s New Tax Changes for Aug. 2011
Several important tax updates that have come into effect in Vietnam from August 2011
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Vietnam Implements New Strategy to Attract FDI
Aug. 24 – According to the Ministry of Planning and Investment (MPI), the government has developed a new strategy on attracting foreign direct investment (FDI). Instead of just attracting a huge number of various investors, the new strategy is to tie on quality investors. The MPI aims to “create a breakthrough in the number of […]
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Vietnam Attracting More FDI Projects
Aug. 22 – In the first seven months of this year, Vietnam, with 43 cities and provinces, attracted 651 additional foreign direct investment projects. The top cities and provinces are: Hai Duong (northern province) Total capital of US$2.47 billion = 32.4 percent of the county’s total registered foreign capital
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Positive Outlook on Vietnamese-Indian Trade
Aug. 17 – Continuing growth in bilateral trade between India and Vietnam is reinforcing the importance of these two emerging economies to each other. In 2010, bilateral trade grew 34 percent year-on-year to US$2.06 billion, with a similar pattern emerging in 2011. For the first half of 2011, bilateral trade came to US$1.8 billion, a […]
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Vietnam Commits US$48.8 Bln Towards Increasing Electricity Capacity
Aug. 5 – Vietnam’s Ministry of Industry and Trade recently announced that the country will be spending US$48.8 billion to help boost electricity generation capacity to meet the growing domestic demand. The majority of the funds will be put towards the construction of new plants and power-transmission systems, the ministry said in a statement. Vietnam […]
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U.S. Lists Vietnam Among Key Markets to Promote
Jul. 22 – The U.S. Department of Commerce launched a report on its National Export Strategy on June 28, 2011 that included Vietnam among a list of key focus markets. According to the report for U.S. Congress, the key markets of Vietnam, Colombia, Indonesia, Saudi Arabia and Turkey all have large populations, high growth, favorable […]