Vietnam has reiterated its commitment to high economic growth following the conclusion of the National Party Congress in Hanoi where it chose its leaders for the next five years. Vietnam’s ruling Communist Party approved plans to raise growth to 6.5 to 7 percent for the 2021-2025 period as it aggressively pushes for reforms and high-tech […]
Latest Updates As of March 4, 2021, Vietnam’s Ministry of Health confirmed a total of 2,482 cases of COVID-19. However, 1,898 of the affected patients have recovered and been discharged from hospitals. Vietnam has also recorded 35 deaths due to the pandemic. The latest community transmission cases have been reported from Hai Duong. March 3 […]
Vietnam’s growing economy, increasing population, and rapid urbanization have increased pressure on its natural resources. The country’s enormous coastline makes it vulnerable to the effects of climate change and rising sea levels. Thus, its government has realized the need to transition towards making its urban development smarter and more sustainable. Sustainable construction As per the Vietnam […]
Vietnam’s Ministry of Planning and Investment (MPI) has estimated that in 2020 average disbursement rates for public investment exceeded 90 percent. This compares to 67 percent in 2019 and 66 percent in 2018. The 2020 target for public investment was set at US$27 billion. Over the next four years, Vietnam has set a public investment budget of US$119 billion. […]
Despite the negative socio-economic consequences of COVID-19, Vietnam is one of the few countries that recorded positive economic growth in 2020. As per the General Statistics Office (GSO) Vietnam’s GDP increased by 2.91 percent in 2020. This reflects two key factors: the relative success in containing the health and business risks of the pandemic, and the ability of […]
Vietnam’s ride-hailing industry revenues could reach US$4billion by 2024, while the industry is forecasted to grow at a compound annual growth rate (CAGR) of 16 percent between 2020 and 2025. The industry has witnessed a surge in consumer demand, new entrants, and innovative products in recent years. In addition, since the industry is relatively nascent […]
An Introduction to Doing Business in Vietnam 2021, the latest publication from Dezan Shira & Associates, is out now and available for complimentary download through the Asia Briefing Publication Store. In this issue: An Introduction to Vietnam How to Set Up in Vietnam Tax and Accounting HR and Payroll 2020 is a year that businesses are unlikely […]
With proactive participation in global value chains, Vietnam has steadily grown into a prominent manufacturer and exporter for electronics, ranking 12th in the world and 3rd in ASEAN as an exporter for electronics in 2019. Various factors contribute to Vietnam’s successful transformation from an agricultural country into an important location for electronic manufacturing in Southeast […]
Vietnam’s National Assembly on June 2 approved new changes to personal income tax (PIT) increasing deductions for individuals and dependents in 2020. The government issued Resolution 954/2020/UBTVQH14 (Resolution 954) which is effective July 1, 2020 however the increase is retroactive and thus effective from January 1, 2020. Our HR and tax experts highlight the important points of the resolution. […]
Tax, Accounting, and Audit in Vietnam 2020, the latest publication from Dezan Shira & Associates, is out now and available for download through the Asia Briefing Publication Store. A strong understanding of tax liabilities enables foreign investors to maximize the tax efficiency of their investments while ensuring full compliance with all tax laws and regulations. Vietnam Briefing’s […]
Vietnam’s tax system is a significant determinant of its investment attractiveness. Recent reforms have been aimed at ensuring that tax incidence is lower, investment incentives are strong, and tax compliance is efficient. In order to comply with tax regulations in Vietnam, businesses are required to register for tax codes, which are used to identify tax […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Marco Förster of Dezan Shira & Associates. Marco has joined IR as our exclusive Foreign Direct Investment Member in Vietnam. Dezan Shira & Associates is a pan-Asia, specialist practice that provides multi-disciplinary foreign direct investment advisory and operational services to international businesses […]
