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 […]
Corporate Income Tax in Vietnam (CIT)
(SB Law) CIT is levied on the taxable income of companies established in Vietnam including foreign invested companies. Taxable income for CIT calculated based on is revenues generated in their course of production less reasonable expenses in the relevant fiscal year.
Many FDI projects in Vietnam’s real estate sector
At the end of 2012, 389 Foreign Direct Investment (FDI) projects in real estate worth US$49.8 billion were licensed, according to a report of the Ministry of Planning and Investment released yesterday, January 24.Thus, Foreign Direct Investment in the real estate sector accounts for about 23.32 percent of total FDI in Vietnam. Ho Chi Minh […]
Eximbank and Sacombank begin merger process
Eximbank (EIB) and Sacombank (STB) on January 29 signed a five-year cooperation agreement which will pave a way for a likely merger between two of the biggest commercial banks in Vietnam. Following that, the two banks will seek approvals from their shareholders and relevant State authorities for a merger in the next three to five […]
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 […]