Conditions for securities trading institutions to make offshore indirect investment specified
The Government on July 1 issued Decree No. 86/2016/ND-CP providing specific conditions on offshore indirect investment of securities trading institutions. Accordingly, a securities trading institution which conducts offshore indirect investment through purchase and sale of securities or other valuable papers or investment via overseas securities investment funds or other intermediary financial institutions must comply with […]
E-commerce development master plan ratified
By 2020, thirty percent of the Vietnamese population will shop online with an annual average per-capita spending of USD 350.Such is highlighted in Prime Minister Decision No. 1563/QD-TTg of August 8, approving the master plan on e-commerce development during 2016-20.The Decision also sets the target that business-to-customer (B2C) e-commerce sales will annually increase by 20 […]
Ministry of Finance proposes tax incentives for SMEs and start-ups
Small- or medium-sized enterprises with an annual turnover of VND 20 billion or less would be likely to enjoy an incentive corporate income tax (CIT) of 17 percent for four years from January 1, 2017, through December 31, 2020, instead of the current 20 percent. This is highlighted in a draft resolution recently prepared by […]
Draft decree sets more conditions on investors wishing to buy SOEs
A strategic investor that wishes to purchase shares of an equitized state-owned enterprise (SOE) must have the same core business lines as the enterprise.This is one among the new conditions on strategic investors which are set by the Ministry of Finance in a draft decree on transformation of SOEs into joint-stock companies. Specifically, under Article […]
Conditions for maritime safety services guided
The Government on July 1 issued Decree No. 70/2016/ND-CP, prescribing conditions for providers of maritime safety services. Accordingly, enterprises providing maritime pilotage services must be established lawfully and have at least 75 percent of their charter capital held by the State.In addition, they are required to have full-time units in charge of maritime pilotage. The […]
Draft circular guides one-stop business establishment registration
Foreign investors may make investment registration and enterprise registration either under an inter-agency coordination mechanism or by conducting procedures in succession as prescribed in the Investment and Enterprise Laws and guiding documents.It is highlighted in a draft circular designed by the Ministry of Planning and Investment to guide the inter-agency coordination mechanism for settling investment […]
4G to be licensed in the third quarter of 2016
Minister of Information and Communications Truong Minh Tuan urged enterprises to send recent reports on 4G testing results as the government had policies to accelerate the licensing for 4G this year. The Ministry of Information and Communications (MIC) held a review meeting for the first half of this year early this week. Previously, many enterprises […]
Government puts a leash on foreign reinsurance
Foreign insurers operating in Vietnam are no longer allowed to transfer their entire premium collected in the country to their mother companies through overseas reinsurance contracts. The newly issued Decree No.73/2016/ND-CP guiding the implementation of the Vietnamese Law on Insurance, dated July 1, 2016, proclaims that foreign firms can now only reinsure up to 90 […]
Ministry proposes computerized management of land information
The Ministry of Natural Resources and Environment is designing two draft decrees guiding the 2013 Land Law, proposing the application of information technology in carrying out administrative procedures and managing land information.Under a draft decree on formulation, management and exploitation of land information, the Ministry proposes designing a connected, synchronous and data-sharing land information system […]
Visa waiver for five European countries extended
The Government on June 30 inked a Resolution to extend a visa waiver program benefiting citizens of five Western European countries, which ended on the same day, as the policy has proved to be successful after one year in effect. Under Resolution No. 56/NQ-CP, citizens of the United Kingdom, France, Germany, Spain and Italy who enter […]