Seaport enterprises required to meet higher conditions
From July 1, seaport enterprises will be permitted for operation only after acquiring certificates of eligibility for seaport operation. Such is a salient point of Government Decree No. 37, issued on April 4, providing conditions for seaport operation business. Accordingly, the decree requires such enterprises to operate seaports for the purposes and according to the functions […]
New regulations to prevent conflicts of interest in corporate governance
From August 1, members of the board of directors, supervisors, director or director general, and other managers of a public company will be required to make public their related interests as prescribed by law.Such is provided in Government Decree No. 71 signed on June 6, providing corporate governance regulations applicable to public companies. The Decree […]
Twenty-eight decrees to be issued, revised in the coming time
A mass of legal documents on land, construction, housing, and investment and business will be issued or revised in the last months of this year or first quarter of next year as announced in the list attached to Prime Minister Decision 1078/QD-TTg of July 25.Accordingly, the PM asks related ministries and agencies to draft 28 […]
Law on Support for Small- and Medium-sized Enterprises
The Law on Support for Small- and Medium-sized Enterprises (the Law), which is the first of its kind in Vietnam, will enter into force on January 1 next year.The Law establishes various support measures for small- and medium-sized enterprises (SMEs). It also creates a legal framework to mobilize the private sector as well as organizations […]
New guidance in the implementation of the Decree on conditions for warehouses and sites
VCN – The General Department of Vietnam Customs has issued a document guiding the provincial and municipal Customs Departments to carry out customs procedures while waiting for handling the cases which fail to meet the conditions prescribed in Decree No. 68/2016 / ND-CP on regulations on conditions for duty-free business, warehouses and sites for Customs […]
Time to remove credit limit?
At the conference on “Monetary and financial policy to promote economic growth in the last six months of 2017″ held by the Ministry of Planning and Investment (MPI) this morning (July 14), Dr Can Van Luc, a finance and banking expert, said that in the second half of the year, the monetary and financial risk […]
Increasing pressure on commercial banks
VCN- The decision of the State Bank of Vietnam in reducing the management interest rate and short-term lending interest rate in VND for some sectors will have a positive impact on economic growth and business development.\ However, this decision may cause the banking system to experience enormous pressures. Therefore, in the interview with the press, […]
Vietnam trade information portal launched
A ceremony was held in Hanoi on July 12 to officially launch the Vietnam trade information portal (VTIP) at http://www.vietnamtradeportal.gov.vn. The event was attended by Deputy Prime Minister Vuong Dinh Hue, Minister of Finance Dinh Tien Dung, and Acting Country Director of the World Bank in Vietnam Sebastian Eckardt.The portal, hosted by the General Department […]
Vietnam to lift restrictions on foreign investment in privatisation push: prime minister
Vietnamese prime minister Nguyen Xuan Phuc appealed for foreign investment in state-owned enterprises at a business forum in The Hague on Monday. Phuc said Vietnam will lift restrictions for foreign investors in areas including services, telecommunications, finance and banking, and raise the limit on foreign ownership levels, Vietnam News Agency reported. “State-owned firms are set […]
Facebook business must pay five per cent revenue tax
Small and home-based business owners who use the Facebook platform to sell products and have revenue of more than VND100 million (US$4,500) per year will be taxed at five per cent. The money will be paid through a tax registration, value added tax, personal income tax and other taxes depending on the goods they sell. […]