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News

Financial investment: foreign funds ready for disbursement

  • Fund management companies that have been in Vietnam a long time are moving ahead with plans to raise new funds in anticipation of great opportunities to come from equitized state-owned enterprises, profitable listed companies and private businesses with potential.
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Enhance the rules and disciplines to the whole Finance sector

  • To increase work efficiency and successfully perform the financial-budget tasks in 2016, the Minister of Finance asked the Head of units in and under the Ministry of Finance to enhance the rules and disciplines while doing their public duties
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Lenders licensed for foreign currency loans

  • Foreign banks and credit institutions will be licensed to lend in foreign currencies to export enterprises, which will provide short-term capital to exporters and manufacturers.
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Bank for overseas Vietnamese proposed

  • A proposal to establish the Viet kieu (Overseas Vietnamese) Bank in Viet Nam has been raised at a meeting between Prime Minister Nguyen Xuan Phuc and Viet kieu experts last week.
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APEC vows to promote free trade over protectionism

  • Foreign and trade ministers from 21 Pacific Rim economies pledged Thursday to promote free trade in the face of rising protectionism, Japan’s trade minister said, in a veiled counter to US President-elect Donald Trump and his anti-globalism rhetoric.
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Vietnam’s participation in financial, monetary and banking institutions facilitated

  • The PM has approved a project facilitating Viet Nam’s participation in regional and international financial, monetary and banking institutions.
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Vietnam offers conditions for business growth

  • The National Assembly are discussing draft laws on trade and production including one on Assistance for Small and Medium-Sized Enterprises and a draft revision of the list of conditional business lines under the Law on Investment
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Tax payment through banks: Change the method of guarantee for tax payment

  • Enterprises have the right to extend or shorten the duration of the bank guarantee, and increase or decrease the amount of guarantee for tax payment. These are new changes which the General Department of Vietnam Customs has proposed to solve problems of commercial banks in the implementation of tax guarantee stipulated in Circular 38/2015 / TT-BTC.
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How are foreign banks performing in Vietnam?

  • About 70-80 percent of the profit made by foreign banks comes from services, while credit makes up 10-15 percent.
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Legislators approve medium-term public investment plan

  • With 89.88% of "yes" votes, the National Assembly on November 10 passed a resolution on medium-term public investment plan for the 2016-2020 period with a total maximum budget of VND 2 quadrillion (US$ 89.56 billion)
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Punish 0.05% over total tax if not pay fine on time

  • According to General Department of Customs, in the case where individuals or organization have sanctioned administrative violations (including tax violations) but they don’t pay the fine on time in accordance with the law, then they have to pay 0.05% of the total amount of the fine each day as a late payment.
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Enterprise, Investment Laws breathe new life into business environment

  • With an extensive reform spirit, the Law on Enterprises and the Investment Law, which took effect on July 1, 2015, have breathed new life into the country’s business environment, as seen in the remarkably increase in the number of enterprises and investment.
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Labour sublease under Vietnamese law

  • A company may wish to use some staff of another company, especially when they belong to the same group. What form of Labour exchange is recognized by Vietnamese law? This practical note tries to provide an answer to the question.
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Which segment drives real estate market until year end?

  • In the first three quarters of 2016, real estate market saw lots of complicated movements. The question now is that which segment will lead the market in the last 3 months of the year?
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