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Vietnam Expands E-Customs Services to 12 Offices
Jul. 14 – The General Department of Customs will offer its e-customs services to 12 more offices as a way of encouraging companies to use the service. This will bring the total number of offices with the e-customs service around the country to 36. Eventually authorities aim to offer the service in 70 percent of […]
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New Investment Flows into Phu Quoc Island
Jul. 13 – Thirteen new projects worth an estimated US$157.8 million have been allowed to invest in Phu Quoc Island located in Kien Giang Province in southern Vietnam. The new project brings the total number of licensed projects on the island to 64 amounting to US$ 2.4 billion, according to Deputy Head of the Investment […]
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Stricter Bidding Process Set for Japanese Funded Projects
Jul. 12 – A pilot regulation will open Japanese-funded projects to third parties for bidding in an effort to clamp down on corruption. The Ministry of Planning and Investment said (MPI) said that under the trial regulation, a third party will be allowed to join tenders; study documents related to the bidding process and send […]
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Vietnam Considers Removing Limit on Petroleum Trading Licenses
Jul. 9 – The Prime Minister’s Taskforce on Administrative Reform is recommending that the five year limit on petroleum trading licenses be removed to cut down on administrative procedures. The group advises shortening the time it takes to grant a petroleum license from 30 days to 20 days. Regular performance reports by petroleum importers and […]
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EU: Vietnam Growth Prospects Positive
Jul. 8 – Vietnamese economic growth prospects are positive said Sean Doyle, the head of the European Union’s delegation to Vietnam yesterday, adding that the prospects for EU investment in the country were also strong. The comments come as manufacturing in China appears to be coming more expensive in the light of employment unrest, increasing […]
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New Border Economic Zone Approved for Southern Province
Jul. 7 – Authorities have given the go signal to build a border gate economic zone (EZ) located in the southern province of Dong Thap to facilitate trade within the Mekong region. The EZ is slated to be developed to cater to industrial production, trade, tourism, agriculture, forestry and fishery in a total area of […]
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World Bank: Vietnam Performed Well Despite Global Crisis
Jul. 6 – A World Bank report released in June lauded Vietnam’s progress in 2009 saying that the country had navigated the global crisis better than many other nations. The report attributes this to the government’s flexibility in the face of rapidly changing economic conditions. Vietnam’s GDP grew by 5.3 percent in 2009, even registering […]
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Netherlands is Largest Foreign Investor in Vietnam from January to June
Jul. 5 – The Netherlands topped the list as Vietnam’s largest foreign investor from January to June this year at US$2.2 billion worth of investment. During that time, 438 foreign-invested projects were licensed amounting to US$7.9 billion while 121 existing projects were allowed to bring in more funding worth US$525 million. The Netherlands was followed […]
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Broad Application of Economic Needs Test Hinders Foreign Retail Investment in Vietnam
Jul. 2 – Vietnam’s broad application of a special tool allowed for World Trade Organization members to curb market access has hindered major foreign retail companies from entering the country, market analysts are saying. “We talked to some international distributors who are interested in Vietnam’s market like Walmart. They said that they will only come […]
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Vietnam Exempts Import Tax Under Australia, ASEAN, New Zealand Treaty
Jul. 1 – Vietnam will exempt as much as 90 percent of tax lines on goods imported from Australia, New Zealand and Association of Southeast Asian Nations (ASEAN) members this year. By 2017, Vietnam will remove import tariffs on butter, milk and cheese. Import duties on car components will also be slashed to 5 percent […]