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. […]
Vietnam announces six new business-oriented laws
This morning, the President’s Office held a press conference to announce State President Tran Dai Quang’s order to publish six laws which were adopted at the third session of the 14th National Assembly, offering more incentives for the business community. The laws include the Law on Management of External Trade, the Law on Supporting Small […]
Over 180,000 documents processed via one-stop-shop mechanism
As many as 180,079 documents of 12,683 businesses were processed through the national one-stop-shop (OSS) mechanism by the end of June 2017, representing year-on-year rises of 107 percent and 70 percent, respectively. The figures were revealed by the general Department of Vietnam Customs during the second meeting of the National Steering Committee for National and […]
Revising IP Law to effectively combat infringements
The current Law on Intellectual Property of Vietnam was officially enacted in July 2006 and revised in 2009. After 10 years of implementation, the Law has affirmed its important role as a legal corridor for the establishment, exploitation and protection of intellectual property rights. It has, however, also revealed several shortcomings. Le Ngoc Lam, Deputy […]
Deputy PM orders handling of loss-making projects
handle prolonged loss-making projects in line with market mechanisms while reaffirming that the State would not pump money into inefficient projects. The remarks were made during a meeting between the Ministry of Industry and Trade (MoIT) and relevant State-owned enterprises on Wednesday. Twelve big-ticket projects under the Ministry of Industry and Trade have recorded total […]
New Decision to boost power pricing transparency
Prime minister Nguyen Xuan Phuc has promulgated a new decision allowing the Electricity of Vietnam (EVN) to raise the average retail price of electricity by between 3-5 per cent on its own, without approval from the Ministry of Industry and Trade (MoIT). Nguyen Anh Tuan, director of the Electricity Regulatory Authority of Vietnam (ERAV) spoke […]