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Government to Simplify 258 Administrative Formalities
Mar. 9 – The government may soon simplify 256 administrative formalities after a review showed that it could cut costs by more than over VND6,000 billion annually or about US$312 million. Project 30 studied administrative formalities in 2007-2010 in consultation with related ministries, agencies and the Administrative Reform Consultative Council. It recommends simplifying procedures to […]
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Ho Chi Minh City Grants 39 New FDI Licenses
Mar. 8 – Ho Chi Minh city has so far approved investment licenses to 39 new foreign direct investment projects worth an estimated US$333.4 million. Vietnam’s financial capital wants to attract more investment into mechanics, engineering, bio-technology, IT and new materials projects. Majority of the 29 approved licensed projects last month were located outside the […]
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Shaping Hanoi
By Joyce Roque HANOI, Mar. 5 – As the government prepares to celebrate Hanoi’s 1,000 year anniversary in October, plans to slowly expand the capital city have already begun since 2008. Hanoi’s limits will stretch to include adjacent provinces to make more space for national projects in the capital city. The expansion has already absorbed […]
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Vietnam to Limit Car Imports
Mar. 4 – The Ministry of Industry and Trade plans to limit car imports by implementing regulations that would help cut down its trade deficit. The new restrictions will affect the importation of cars with less than 16 seats which make up majority of total cars imported from abroad and require that they pass quality […]
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Survey: Vietnam Ranks First for Business Confidence in Asia
Mar. 3 – Companies in Vietnam have the highest expectations to see profit growth in 2010, according to consulting firm Grant Thornton’s most recent International Business Report. Of the 150 companies surveyed in the report, 91 percent expected to see profits grow in the next year. The report, an annual survey of 7,400 medium-to-large company […]
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EU Begins Free-Trade Talks with Vietnam
Mar. 3 – The European Union and Vietnam have announced that they will formally be opening free-trade negotiations as Europe continues to strengthen their economic ties with a rapidly-growing Vietnam. The free-trade announcement comes following a meeting between EU Trade Commissioner Karel De Gucht and Vietnamese Prime Minister Nguyen Tan Dung in Hanoi on Tuesday.
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Ba Ria-Vung Tau Province Attracts US$125 Million Worth of Projects
Feb. 26 – Vietnam’s southern province of Ba Ria-Vung Tau has approved 15 projects worth US$125.03 million including five foreign direct investment projects amounting to US$924.9 million since the beginning of this year. Some of the major projects involve the Dragon Sea-Vung Tau international tourism exhibition center, a project of the Skybridge Dragon Sea Ltd […]
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Construction of Coastal Road Link to Cambodia, Thailand Begins Next Month
Feb. 25 – A 220 kilometer international highway in the Mekong Delta connecting Vietnam with Cambodia and Thailand will begin construction next month. The Thailand-Cambodia-Vietnam Southern Coastal Road Corridor will begin in Bangkok and end at Nam Can District in Ca Mau Province, Vietnam. The road link will be built at a cost of US$440 […]
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Cau Treo Economic Zone Exempted from Import Tariffs for Five Years
Feb. 24 – The Cau Treo border gate economic zone in Ha Tinh Province in central Vietnam will soon be exempt from import tariffs according to the Ministry of Finance. The decision will allow materials, equipment and unfinished products imported for production and installation at the zone to be exempted from taxes for five years […]
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Vietnam to Allow Delayed Tax Payments for 2010
HANOI, Feb. 23 – The government has announced it would allow delayed corporate income tax payments for the rest of the year as part of its efforts to support the economy. The decision will cover small and medium-sized enterprises (SMEs), companies in production and textile industries as well as footwear outsourcing firms. Qualifying SMEs must […]