New regulations on investment abroad
VGP – The Government has issued a decree regulating procedures to invest abroad and State management over investments abroad. Accordingly, conditions on investment decision, authorization, process and procedures related to projects abroad using State capital must abide by the Law on Investment of State Capital in Enterprises and other legal relevant regulations. The decree clarifies five types of […]
Citizens to have the right to monitor investment projects
From October 20, citizens will have the right to monitor investment projects through a community-based investment monitoring board.Under Government Decree No. 84/2015/ND-CP of September 30, on investment monitoring and evaluation, the investment monitoring board may request competent state management agencies to provide information on socio-economic development and sectoral development master plans, land use master plans and […]
Central Bank to tighten management of foreign currency transactions
In order to limit enterprises’ speculation and hoarding of foreign currencies, especially US dollar, the State Bank of Vietnam (SBV) on October 2 issued Circular No. 15/2015/TT-NHNN, guiding foreign-currency transactions of credit institutions. . . Accordingly, banks will only sell spot foreign currencies to enterprises that need to settle their payments within two days. For […]
Fee for grant of visas lowered
From November 23, foreigners and overseas Vietnamese entering Vietnam will have to pay only USD 25 as the fee for grant of a single-entry visa (instead of current USD 45). . . Under the Ministry of Finance’s Circular No. 157 dated October 13, prescribing the collection, remittance, management and use of fees for grant of […]
Vietnam determines to develop the contingent of international trade lawyers
Vietnam now has approximately 450 lawyers specialized in international trade, an impressive figure if bearing in mind that the country had just around 20 international trade attorneys in 2010. . . This is one of important achievements gained after five years’ implementing the Scheme on development of a contingent of lawyers to serve international economic […]
Incentives for employers, female employees
Enterprises that employ a large number of female laborers will enjoy lower corporate income tax rates from November 15.Under Government Decree No. 85/2015/ND-CP dated October 1, enterprises regularly employing less than 100 female laborers, accounting for at least 50 percent of the total workforce, or between 100 and 1,000 women, making up 30 percent of […]
TPP has long-term advantages
VGP – Viet Nam could experience increasing trade deficit in the initial stage of joining into Trans-Pacific Partnership (TPP) due to higher foreign direct investment. . . However, the country’s exports will be higher after production becomes stable, thus narrowing the difference in trade balance. Mr. Truong Dinh Tuyen, former Trade Minister, told a press meeting held in […]
New regulations on real estate business released
VGP – The Government recently issued a decree guiding the implementation of the Law on Real Estate Business. The new decree stipulates conditions on real estate business, contract samples, contract transfer, and procedures for transfer of real estate projects. . . Especially, the new decree also requires a charter capital of VND20 billion in minimum […]
New policies take effect since October
VGP – A series of activities on management of foreigners’ entry and exit, punishment on disclosure of false information, aviation authorities, registration of nationality and rights for aircraft, surveillance of activities in sea border areas, external information, assistance policy for poor households shall come into effect since October. . . Management of foreigners’ entry and exit Decree No. 64/2015/ND-CP dated […]
Overseas Vietnamese and families to enjoy visa exemption
From November 15, overseas Vietnamese and foreigners who are spouses or children of Vietnamese citizens or overseas Vietnamese will be exempted from visas when entering the country.Such is provided in Government Decree No. 82 dated September 24, which sets out requirements for the above-mentioned people to acquire visa exemption papers. . . Accordingly, they are […]