Vietnam is currently undergoing economic and demographic transformations that provide great potential for its healthcare industry. In 2019, Vietnam’s healthcare expenditure was approximately US$17 billion, equivalent to 6.6 percent of its GDP according to Fitch Solutions. The firm also expects that healthcare spending will reach US$23 billion in 2022 at a compound annual growth rate […]
For foreigners working in Vietnam, determining the applicability of personal income tax (PIT) involves decoding a number of rules. Following this, foreign workers need to calculate their precise liability and any applicable deductions. Consulting with an in-country tax specialist can help individuals’ optimize their tax exposure, while employers’ may be able to identify more competitive salary packages with an advisor. Below […]
Doing business in a foreign country requires awareness, consideration, and evaluation of risks that are unique to its environment. This involves knowledge of politics, economics, legislation, as well as social and cultural traits of the community. 2021 looks promising. ASEAN has performed better on the economic front than many developed countries and has emerged as […]
One country’s loss is another’s gain. On February 1, Myanmar’s military took over the country in a coup sending shockwaves throughout the region. The move undermined Myanmar’s progress and economic reforms since 2011 when it first held parliamentary elections. Recent media reports have stated that the military coup in Myanmar has forced investors to re-think […]
The year 2020 marks the 42nd anniversary of India-Vietnam bilateral trade. Vietnam and India have shared strong bilateral relations historically, and for the past two decades, trade between the two countries has risen considerably. These economic ties have materialized into several Indian investments in Vietnam in various sectors. The enormous volatility in the global trade […]
Vietnam on February 20, 2021, approved the fourth protocol amending the ASEAN Comprehensive Investment Agreement (ACIA); the Vietnamese Government issued Resolution No. 20/NQ-CP to this effect. The Ministry of Planning and Investment (MPI) is assigned prime responsibility and will coordinate with associated ministries and agencies to implement the above protocol. The Ministry of Foreign Affairs will execute foreign affair procedures according […]
During the last decade, Vietnam has been experiencing rapid economic and population growth, making the country an attractive investment destination for foreign investors in the public healthcare sector. The Vietnamese healthcare industry is one of the country’s development priorities, having received an increasing level of financial support and incentives for investment from the government over the years. […]
For many companies, Vietnam’s greatest potential lies in its conditional investment sectors. These areas of the Vietnamese economy are still largely untapped by foreign capital and present prime opportunities for investors to enter a new market with little competition. Opportunities within conditional sectors are, however, tempered by a number of restrictions on control, activities, and […]
Building on Vietnam’s favorable conditions for doing business, namely its strategic location, stable political system, ample workforce with competitive labor costs, and a relatively open environment for FDI, Vietnam has cemented its position as a safe and stable destination for investment. Its GDP growth in 2020 increased by 2.91% despite COVID-19. The key to […]
With a rapidly expanding market fueled by a fast-growing middle-class, Vietnam has been an attractive destination for major automobile manufacturers from Japan, Korea, the US, and the EU for several years. The EU-Vietnam free trade agreement (EVFTA), which came into effect on August 1, 2020, has made the market even more promising for European manufacturers since high […]
The year 2020 marks the 42nd anniversary of India-Vietnam bilateral trade. Vietnam and India have shared strong bilateral relations historically, and for the past two decades, trade between the two countries has risen considerably. These economic ties have materialized into several Indian investments in Vietnam in various sectors. The enormous volatility in the global trade […]
Vietnam’s golden era for solar development In June 2020, Sharp Energy Solutions Corporation (SESJ) completed a mega solar power plant in Ninh Thuan province, which is expected to generate 76,373 megawatt hour (MWh) per year. The plant is the newest addition to SESJ’s five other existing solar power plants in Vietnam. Sharp is only one of the […]