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 […]
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 […]
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 […]