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Campaign to Simplify Administrative Procedures in Implementation Stage
Jul. 27 – The government campaign to simplify 258 priority administrative procedures is now in its implementation phase after being adopted last month. The Advisory Council for Administrative Procedure Reform Secretariat is currently collecting feedback on the simplification plans. The campaign is under resolution number 25 that follows the principle “one document amends all” with […]
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Danang City Lures US$2.8 Billion Worth of FDI
Jul. 26 – The major port city of Danang in central Vietnam has so far lured in US$2.8 billion worth of foreign direct investment. A majority of the investments were poured into 29 realty projects comprising of up to 73 percent of the city’s total FDI. Danang’s largest foreign investor was the British Virgin Islands […]
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Dezan Shira Hire More Staff in Vietnam
HANOI, Jul. 26 – Dezan Shira & Associates is hiring more legal and tax staff in Vietnam, according to the firm’s principal, Chris Devonshire-Ellis. “Vietnam is recovering quickly from the fall off in FDI it experienced due to the global downturn, and this, coupled with a change in the economic dynamics in China is spearheading […]
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Investments in HCMC Economic Zones Up by 176 Percent
Jul. 23 – Economic and industrial zones investments in Ho Chi Minh City rose by 176 percent during the first half of the year reaching US$320 million. More than 70 percent of investments made in the zones, approximately US$225 million, came from local investments. Companies located in the zones reported a total export turnover worth […]
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Vietnam Sets Rules for Foreign Investment in Science and Technology Industry
Jul. 22 – A new decree will now require science, technology, research and training cooperation deals involving foreign investors to have a written agreement or memorandum of understanding. Decree No 80/2010/ND-CP, issued on July 14, says that authorities must be informed when an agreement takes effect within 15 days from the date of execution.
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New Commercial Arbitration Law to Help Resolve Disputes Faster
Jul. 21 – Vietnam’s new Commercial Arbitration Law, set to take effect from January 1, 2011, is expected to help local and foreign businesses resolve disputes quicker outside of the court of law. The new law was approved on June 17, 2010 by the National Assembly and will provide an important legal foundation for businesses […]
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Trade Restrictions to Hit Exporters
Jul. 20 – Vietnamese exporters may face tougher restrictions this year as countries employ trade remedies to address anti-dumping and countervailing issues on items produced by importing countries according to trade experts. Vietnam’s top export goods like garments, steel, woodwork and handicrafts are at risk when stricter import regulations are imposed. “In addition to remedies […]
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Public Private Partnership Deal for Expressway in Dong Nai Province Approved
Jul. 19 – The expressway project that will link Dau Giay located in Dong Nai Province with Phan Thiet town in Binh Thuan Province has been approved by authorities under a public private partnership deal. Provincial authorities will be in charge of site clearance and compensation while construction will be led by the Binh Minh […]
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Higher Shipping Costs Stunt Vietnamese Exports
Jul. 16 – Goods exported from Vietnam are incurring higher fees compared to exports coming from other Asian countries despite similar sea routes and destination points, says shipping industry experts and exporters in Vietnam. Only export goods bound for the United States shipping from the new Cai Mep deepwater port can offer competitively lower rates. […]
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Northern Economic Zone Development Plans Approved
Jul. 15 – The plan to fully develop the Dong Dang Border Gate Economic Zone located in Lang Son Province in northern Vietnam by 2030 has been approved. The zone will span 39,400 hectares including a 1,350 hectare non-tariff area plus a tariff area, preservation area, security area and other export facilities. Dong Dang is […]