Thailand intends to build giant oil refinery in Vietnam
The Ministry of Industry and Trade is seeking opinions from different ministries and agencies concerning a USD27 billion oil refinery project by the Petroleum Authority of Thailand (PTT) before submitting it to the government. Authorities in Binh Dinh Province affirmed on January 5 that PTT requested building the large oil refinery there last year. At […]
Medicine needed for health investment
The search for health sector investment in 2013 is moving up on Vietnam's agenda. According to minister of Health Nguyen Thi Kim Tien, state investment into the health sector in 2013 will increase slightly from 4 to 5 per cent against 2012. Meanwhile, the health sector aims to exercise thrift to set aside 10 per […]
Japanese ODA promotes Vietnam's economic growth
The Japanese International Cooperation Agency (JICA) held a conference in Hanoi on January 30 to review Japan’s official development assistance (ODA) to Vietnam over the last 20 years and its future orientations. Under these orientations, Japan will help Vietnam achieve its industrialisation goal by 2020. Japanese ODA will focus on promoting economic growth, increasing competitiveness, […]
MoF raise the cap on advertising and promotion (A&P) expenses from 10 pct to 15 pct
Despite an expected increase on the cap on advertising and promotion expenses, the business community in Vietnam has continued proposing to eliminate the cap entirely, which many say will help create a fair and competitive environment. In the draft amendments to the Corporate Income Tax Law, the Ministry of Finance (MoF) proposed to raise the […]
What’ll the main markets be like in 2013?
The stock market would attract more investors in 2013, while the real estate market would still be in its hibernation, according to Dr Dinh The Hien, an economist, when considering possible investment channels in the year. The real estate market still cools: The real estate market in 2012 did not recover as expected by investors, […]
High expectations for FDI attraction
A new policy drafted by the Ministry of Planning and Investment and relevant agencies is expected to fuel foreign direct investment (FDI) flows into Vietnam. The Prime Minister recently asked the designated agencies to draft a resolution aimed at improving the efficiency of FDI attraction, use and management till 2020. The resolution focuses on amendments […]
More consumer goods M&A deals expected in 2013
The fast growing consumer goods market in Vietnam is expected to see more mergers and acquisitions deals in 2013 as it remains attractive to international investors, economics experts say. The Vietnamese consumer goods sector posted the highest growth rate in Asia, according to a report released in January by Nielsen. It grew by 23 percent, […]
Regulatory confusion over enterprise registration
The Ministry of Planning and Investment issued Circular No 01/2013/TT-BKHDT on January 21, providing stricter guidelines on enterprise registration. The circular was promulgated pursuant to Government Decree No 05/2013/ND-CP, issued on January 9. Circular No 01 requires that an enterprise obtain a code from the Vietnam Systems of Economy Index when applying either for newly […]
Government assists businesses with tax breaks
The government issued Resolution No 02/NQ-CP on January 7, setting for measure to ease difficulties faced by businesses during the prolonged economic downturn. The resolution grants a six-month extension of corporate tax payments due for the first quarter of this year and three-month extensions of corporate tax payments for the second and third quarters. Eligible […]