-
Higher Tet Bonuses Expected Next Year
Dec. 1 – Companies say they are expecting to give out higher bonuses for 2010 Tet Holidays compared to the previous year due to improving business says Vietnam Net. The director of the Wage Department under Ministry of Labour, War Invalids and Social Affairs (MOLISA), Tong Thi Minh, said that there was no official information […]
-
New Resolution to Dissolve Loss-Making State Firms
Nov. 30 – Vietnam’s National Assembly has approved a new resolution that would dissolve unprofitable state-owned firms and increase efficiency of the remaining ones during the last day of its month-long session. The committee reported that 45 percent of its 91 state-owned groups in the country met low returns on equity of less than 10 […]
-
Lawmakers Approve Nuclear Plants
Nov. 27 – Vietnam’s National Assembly has approved plans to build two nuclear power plants in the south-central province of Ninh Thuan scheduled to be finished by 2020. The nuclear plants will be located in Thuan Nam District’s Phuoc Dinh Commune and Ninh Hai District’s Vinh Hai Commune with a combined power capacity of 2,000 […]
-
Virtual Offices Concept Face Government Resistance
Nov. 27 – Government agencies have been slower to accept the virtual office concept leading to delayed processing times for tax and registration documents that use a virtual office address. Virtual offices are a popular option for small businesses because it provides all related business needs from a phone number to a business mailing address […]
-
Vietnam Devalues Currency, Raises Interest Rates
HANOI, Nov. 25 – The central bank has announced that it would devalue the Vietnamese currency and raise benchmark base interest from 7 percent to 8 percent beginning next month. This is the third time since since 2008 that the dong has been devalued. The central bank said that one-time devaluation will see the currency’s […]
-
Vietinbank to Offer Online Remittance Transfer Services
Nov. 24 – The Vietnam Bank for Industry and Trade (Vietinbank) will begin offering online remittance transfer service to make it easier for Vietnamese overseas to transfer money home. The service allows a maximum one time transfer amount of US$3,000 or 10 transactions totaling US$15,000 monthly according to VOV News. One can immediately register for […]
-
HCMC Cuts Electricity to 51 Companies Due to Environmental Violations
Nov. 23 – Ho Chi Minh City authorities have cut electricity to 51 businesses last week as punishment for their environmental violations reports Thanh Nien News. The city gave an ultimatum that blacklisted business will not be reconnected again unless they clean up and stop damaging the environment. The 51 firms were found to be […]
-
Ho Chi Minh City Included in Top Cities for Software Testing
Nov. 20 – Strategic advisory firm, Tholons has included Ho Chi Minh City in its annual report of Top 6 Established Global Outsourcing Cities for Software Testing for the second year in a row. The city located in South Vietnam was also named in Tholon’s list of Top 10 Offshore Nations, Top 50 Emerging Global […]
-
Hanoi Plans to Streamline New Business Procedures
Nov. 19 – Hanoi’s Department of Planning and Investment announced plans to cut down the number of days it takes to establish a new business from the current 30 days to a maximum of nine days beginning November 17. Deputy director of Department of Planning and Investment, Nguyen Van Tu, told Thanh Nien News that […]
-
Tax Laws on Overseas Investment to be Revised
Nov. 18 – Vietnam’s Ministry of Finance is planning to revise tax laws to encourage more Vietnamese businesses to make overseas investments. The draft of the tax circular is pending official approval at the end of the year. If the new plan is approved it will allow for incentives for projects in energy, power, petroleum, […]