State Firms Increase Investment for Development
State groups and corporations plan to pour around 507,000 billion VND in development plans in 2013, up 32.4 percent against 2012.Businesses under the Ministry of Industry and Trade rank first in terms of development investment with 46.6 percent, followed by businesses under the Ministry of Transport (34.5 percent). Eight State economic groups expect to spend […]
Vietnam opens its largest and deepest seaport
The Ministry of Transport today opened the Cai Mep Thi Vai International Port in the southern province of Ba Ria Vung Tau, the country’s deepest and biggest seaport, which designed to meet the increasing demand of container shipping in the South. The VND13 trillion (US$619 million) project, funded by ODA loan of Jica and counterpart […]
Regulation greases path for foreign securities investors
Circular No 213/2012/TT-BTC has been issued by the Ministry of Finance to regulate the participation of foreign investors in the securities market. Under the circular, it will be easier for foreign investors to open securities trading accounts. Individual foreign investors will no longer be required to submit judicial background records, only a notarised copy of […]
Legal Updates 6
Circular No. 09/2013/TTBTC amending the Circular No. 104/2012/TT-BTC The Ministry of Finance issued the Circular No. 09/2013/TTBTC amending the Circular No. 104/2012/TT-BTC, of June 25, 2012 of the Ministry of Finance, providing interest rates of the state investment credit, export credit loans and the interest rate difference eligible for post-investment supports. Accordingly, from January 17, […]
Legal Updates 5
Circular No. 02/2013/TT-BCT providing import of raw material tobacco imported according to the quota regime in 2013. On January 1, 2013, the Ministry of Industry and Trade issued the Circular No. 02/2013/TT-BTC providing import of raw material tobacco imported according to the quota regime in 2013. Accordingly, the Ministry of Industry and Trade determined the […]
Legal Updates 4
Circular No. 11/2012/TT-BXD guiding the calculation and management of construction maintenance costs On December 25, 2012, the Ministry of Construction issued the Circular No. 11/2012/TT-BXD guiding the calculation and management of construction maintenance costs. Under this Decree, the periodic and irregular repairs of the construction and equipment that cost 500 million VND or more must […]
Legal Updates 3
Circular No. 50/2012/TT-BCT promulgating the National Technical Regulation on Risk Acceptance Criteria used for Quantitative Risk Assessment (QRA) of petroleum, oil and petrol, chemical, thermal power activities. On December 28, 2012, the Ministry of Industry and Trade issued the Circular No. 50/2012/TT-BCT promulgating the National Technical Regulation on Risk Acceptance Criteria used for Quantitative Risk […]
Legal Updates 2
On January 09, 2013, the Government issued the Decree No. 06/2013/ND-CP on the security staff at organizations and enterprises. Of which, one of the most notable points is the regimes and policies applicable to the security staff at state organizations, state enterprises, and political organizations.Specifically, the Government regulated that if a security guard hurts or dies […]
Can Foreign Investor create a Vietnam company with 100% ownership in the field of engineering?
(S&B Law) The answer is yes, it is possible for foreign investor to set up 100% foreign invested company according to Vietnam law. Under Vietnam Law on Investment, in order to setting up a foreign invested company (hereinafter referred to as “NewCo), Foreign Investor is required to propose an Investment Project. Investment Project is understood […]