Loans poured into real estate sector to be tightened
In order to tighten lending for real estate projects, the State Bank of Vietnam (SBV) recently revealed a draft circular amending Circular No. 36 issued in 2014, on prudential ratios of credit institutions and foreign bank branches. . Accordingly, the risk weight of loans granted to finance the real estate and securities sectors would be […]
Apartment buildings to be classified into three categories
In the coming time, apartment buildings put into use from July 1, 2015, would be classified into categories A, B and C.Such is highlighted in a circular drafted by the Ministry of Construction (MOC) which will serve as a basis for determination of values of condominiums and application of rates of condominium management services. Under […]
Foreign experts to be exempt from personal income tax
Foreign experts working in Vietnam for programs or projects funded with foreign non-governmental aid will be exempt from personal income tax (PIT).According to Decision No. 06/2016/QD-TTg which was signed by Prime Minister Nguyen Tan Dung on February 22, PIT exemption will be offered to foreign experts who are employed to directly conduct activities under programs […]
New decree on foreign rep offices comes out
The government has issued a new decree governing foreign firms’ establishment of representative offices and branches in Vietnam. . Decree 07/2016/ND-CP specifies that to open representative offices in Vietnam, foreign businesses legally established in the countries and territories joining the international treaties to which Vietnam is also a signatory. In addition, they must be active […]
New orientations on ODA attraction approved
The PM has approved the Project on “Orientations on ODA attraction and use in the 2016-2020 period. . . ODA attraction, management, and spending will be balanced and selected among different capital investment resources and follow the goals on public and foreign debts in the 2011-2020 period with a vision toward 2030, socio-economic development plans, and ensure […]
PM highlights TPP opportunities and challenges
The Trans-Pacific Partnership (TPP) deal will facilitate trade and investment, bringing more benefits to production, business, workers and consumers, Prime Minister Nguyen Tan Dung said in a recent article.In the article, entitled “The TPP, opportunities and challenges – Our action,” Prime Minister Dung wrote that the TPP was a comprehensive market-access deal that ensured freer […]
New decree specifies establishment of foreign traders’ representative offices and branches
Foreign traders may establish representative offices and branches in Vietnam according to the country’s international commitments.Such is affirmed in Government Decree No. 07/2016/ND-CP dated January 25, detailing the Commercial Law regarding Vietnam-based representative offices and branches of foreign traders. However, a foreign trader will not be allowed to set up more than one representative office […]
Government approves resolution on signing of TPP
The Government on February 2 issued Resolution No. 09/NQ-CP, agreeing to sign the Trans-Pacific Partnership (TPP) agreement. Accordingly, it authorized the Minister of Industry and Trade to ink the agreement with authorized representatives of nations joining the agreement, while procedures required will be undertaken by the Ministry of Foreign Affairs.October 5, 2015, marked a historical […]
New policies take effect in February
A string of fresh policies on compulsory insurance for construction investment activities; assistance in vocationaiontal training and job search for workers whose land is withdrawn comes into effect since February, 2016. Compulsory insurance for construction investment activities Decree 119/2015/ND-CP (Decree 119), dated November 13, 2015, on compulsory insurance for construction investment activities shall be valid since February 10, 2016. Accordingly, Decree 119 regulates […]
M&A retail sale deals on upward trend
The retail sale market has become eventful since the end of 2015 with large-scale M&A transactions carried out by domestic and foreign investors. Under its commitments to the World Trade Organization (WTO), since January, 2015, Viet Nam permitted the establishment of wholly-foreign owned companies. In addition, the official operation of the ASEAN Economic Community since 2016 is expected to permit free circulation of […]