On July 10, 2020, the United Nations released its E-Government Survey 2020. With an overall score of 0.66 on the E-Government Development Index (EGDI), Vietnam moved up two places from last year and was ranked 86th among 193 member states. Though Singapore, Malaysia, Thailand, Brunei, and the Philippines scored higher, Vietnam has so far already made […]
The Vietnamese government approved Resolution 115/NQ-CP (Resolution 115) on August 6, 2020, to promote supporting industries in Vietnam. The approved resolution maps out a comprehensive approach to improve both administrative policies and enhance private sectors’ capabilities through training and financial incentives. Supporting industries that are listed in the prioritized list prescribed in the Law on Investment and Decree 111/2015/NĐ-CP are the focus of […]
Companies are facing significant operational, financial, and strategic challenges due to the COVID-19 outbreak, although the spread of the virus has slowed down and the situation appears to be stabilizing in different regions around the world. As countries restart their economies, businesses need to evaluate the risk of infection and effectively manage their liquidity to survive […]
Vietnam’s government issued Decree 58/2020 ND-CP (Decree 58) for employers in specific industries that allow them to reduce their Social Insurance (SI) contribution for the occupational diseases and accident category. Decree 58 comes into effect on July 15. Eligibility under Decree 58 Businesses that operate in the specific sectors under the occupational diseases and accident category are […]
Vietnam on March 22 suspended the entry of all foreign visitors including those with visa exemption certificates in a bid to contain the COVID-19 pandemic. Subsequently, it suspended all international flights by March 25, effectively locking out visitors and business professionals except for Vietnamese nationals returning on special repatriation flights. Vietnam’s government, however, has allowed diplomats, officials, […]
On August 1, 2020, the first protocol to amend the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) between Japan and five members of the Association of Southeast Asian Nations (ASEAN) went into effect. While the AJCEP was first implemented in December 2008, the first protocol amending the FTA will promote further trade and investment between Japan, Laos, Myanmar, Singapore, Thailand, and Vietnam. To […]
Vietnam is one of the most efficient power markets in Southeast Asia, driven by low-cost resources such as hydro and coal. The country has achieved around 99 percent electrification with relatively low cost in comparison to neighboring countries. With electricity demand projected to increase by eight percent annually until 2025; the government is moving forward […]
The garment and textile industry is one of the key industries in Vietnam with the second-largest export turnover in the country. In 2019, the industry’s export value contributed to 16 percent of total GDP. In the past five years, the textile industry has continuously grown at an average rate of 17 percent annually. In 2019, […]
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 many companies that cashed in on […]
Vietnam’s new Law on Tax Administration 38/2019/QH14 will take effect on July 1, 2020. Under the new law, tax authorities have been granted additional enforcement powers. At the same time, the new law has made it a little bit easier for both individuals and entities to file taxes. The authorities are expected to provide five decrees and […]
Vietnam has garnered international praise for its swift and effective response to the COVID-19 outbreak. Although the country is not immune to the global economic downturn, its prospects for recovery remain positive and are the brightest among Asian countries. This view was also shared by the financial service firm UBS in a research note. Vietnam’s economy shows positive signs […]
Vietnam’s socio-economic challenges require international assistance. This creates demand for non-governmental organization (NGO) services, but NGOs looking to set up in Vietnam first need to understand how the industry is regulated. An NGO entering Vietnam should study the country’s complicated regulatory environment. NGO leaders need to take a flexible and nuanced approach to fulfill their mission and meet the needs of both […]