In recent years, Lao Cai province has developed into a promising destination for foreign investments – especially in the tourism, construction, and agriculture sectors. This is partly a result of Lao Cai’s strategic location located on the Kunming-Haiphong economic corridor, sharing a border on the Yunnan province of China. Lao Cai is now a major conduit for […]
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 […]
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 […]
Surrounded by major economic hubs, ports, national highways, and an international border, Bac Giang province in northeastern Vietnam is situated at the crossroads of major trade routes. It is located adjacent to the key economic triangle Hanoi – Hai Phong – Quang Ninh, 110 km from the Huu Nghi Border Gate with China, 100 km from the Hai Phong seaport, […]
On June 29, the Prime Minister issued Decision No. 908/QD-TTg, approving a new list of state-owned enterprises (SOEs) that should be equitized by the end of 2020. The list comprises of 124 SOEs, includes four enterprises with divestment deadlines of November 30, 2020. Decision overview Among 124 SOEs listed, 96 enterprises are set to carry out […]
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 […]
On June 17, Vietnam’s National Assembly (NA) passed the amended Law on Investment and Law on Enterprises, both of which will take effect on January 1, 2021. The amended Law on Enterprises simplifies the business registration process, redefines state-owned enterprise (SOE), and excludes household business from the scope of the current law. The amended Law on Investment […]
With Vietnam containing the COVID-19 pandemic better than others, the government has looked to spur growth to ensure it can recover and maintain a high GDP growth rate. The government has maintained a high GDP growth target of 6.8 percent despite the pandemic and strives to implement measures to stimulate economic recovery while adapting to the new […]
Overview of the EuroCham & ACAPR Special Dialogue: “Administrative Reform: A Key Role in EVFTA Implementation” On June 30, the European Chamber of Commerce in Vietnam (EuroCham) and the Prime Minister’s Advisory Council for Administrative Procedure Reform (ACAPR) co-organized a special dialogue in Hanoi, titled “Administrative Reform: A Key Role in EVFTA Implementation”, discussing this key issue […]
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 emerged as an important investment spotlight for foreign investors. With GDP growth of 7 percent, import-export turnover of US$518 billion in 2019, and total registered capital of $362.58 billion by the end of 2019, the country continues to thrive in a wide variety of sectors. Social-political stability, a young population, a cost-competitive labor […]
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 […]