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 […]
PM pledges all possible support to workers
The government will offer all possible support to businesses, start-ups and create jobs for workers, prime minister Nguyen Xuan Phuc has said. He made the statement during a working session in Hanoi yesterday with the Presidium of the Vietnam general Confederation of Labour (VGCL) to discuss work between the government and VGCL and set tasks […]
Real estate market may cause great damages to the economy if risks occur
Real estate is currently the channel that attracts the most capital. The information that the government is working on housing credit support programme along with the recently adopted bad debt settlement resolution have made the market to be more exciting. The housing credit support package is just being studied now. As per experts, the aforementioned […]
Vietnam’s employers, unions fight again over wage increase
Businesses started with a low offer of 5 percent while the labour federation insisted on 13.3 percent. Discussions for the annual wage increase have started, and as expected, the business group at the table, the Vietnam Chamber of Commerce and Industry, has come in with a relatively low offer of 5 percent for 2018. That […]
Over 61,000 new enterprises established in six months
Hanoi (VNA) – In the first two quarters of this year, 61,276 enterprises were formed, with total registered capital of over 596 trillion VND (more than 26.2 billion USD), according to the Ministry of Planning and Investment’s National Enterprise Information and Registration System.The figures showed a rise of 12.4 percent in the number of enterprises and […]
Zero-dong banks promote themselves as fully state-owned banks to attract customers
In 2015, the State Bank of Vietnam (SBV) decided to compulsorily acquire the entire shares of GPBank, OceanBank and VNCB at zero dong. After the acquisition, SBV transformed their operation models into 100 percent state-owned limited liability banks and appointed personnel from Vietcombank and Vietinbank to support, renaming VNCB into CBBank, and changing the brand […]