Vietnam Register accepts online applications
HCMC – Vietnam Register has started to receive registration applications for motorcycles as well as imported motorcycle engines and electric bicycles this week in an effort to help enterprises save time and money. Enterprises now do not have to go to the agency’s offices to submit applications, complete related procedures and get results as before. […]
New rules ensure validity of construction contracts
A new decree recently issued by the Government is expected to provide a better basis for the entry into and performance of construction contracts. Decree No. 37/2015/ND-CP on construction contracts will take effect on June 15, 2015. Compared to Decree No. 48/2010/ND-CP and Decree No. 207/2013/ND-CP, which it will replace, Decree No. 37 has a […]
Draft decree tightens supervision over FDI projects
The supervision over foreign-invested projects in Vietnam would be tightened, if a Ministry of Planning and Investment-drafted decree is approved. While Decree No. 113/2009/ND-CP, which the draft is designed to replace, applies only to projects with the state funding accounting for at least 30 percent of the total investment capital and projects using other sources […]
Firms in export processing zones have special rights
An Export processing zone (EPZ) is an industrial zone where enterprises specialising in manufacturing exports, providing services for the production or manufacture of exports, and export activities come together. This article will cover the legislation under which the importing and distribution rights of export processing enterprises in the domestic market are regulated. In domestic trading, […]
New provisions regulate real estate business contracts
HA NOI (Biz Hub) — The legal capital of a real estate enterprise must not be less than VND20 billion (US$921,000) under the new Law on Real Estate Business, which becomes effective on July 1. The current provision on the same is VND6 billion ($276,500). A real estate enterprise that has charter capital less than […]
Control over outstanding debt settlement in capital construction to be tightened
All outstanding debts in capital construction arising after December 31, 2014, would be settled in accordance with the law on public investment and current regulations. Under Directive No. 07/CT-TTg, on intensified application of measures to settle outstanding debts in capital construction, the Prime Minister requests ministries, sectors and localities to strictly control the formulation, appraisal […]
New Customs Regulations in Vietnam aim to simplify procedures for enterprises
Hanoi –Vietnam’s Ministry of Finance (MoF) has announced the streamlining of a range of taxation and customs procedures in Decision Nos. 509/QĐ-BTC and 510/QĐ-BTC. The MoF has removed one and simplified seven taxation procedures, and removed seven and simplified 38 customs procedures. Taxation procedures to be simplified include invoice issuing and printing, and tax exemption […]
VN, Laos to sign border trade agreement
VGP – The PM has issued a Decision directing negotiations on a border trade agreement with Laos. The PM assigned the Ministry of Industry and Trade to set up an interdisciplinary delegation in charge of negotiating the agreement. Viet Nam-Laos border trade has yielded positive achievements over the past few years, contributing to expanding the market and a higher growth in the […]
Vietnam mulls criminal charges against employers avoiding pension obligations
Employers who avoid buying mandatory social and health insurance for their employees will face criminal charges rather than civil penalties, under newly proposed legislation. “Violations related to social and health insurance have become more common,” said minister of Justice Ha Hung Cuong. “The violations have caused serious consequences not only to the rights and benefits […]
Mass transit sector gets a boost
Specifically, from July 1, bus enterprises will receive funds from the state budget for infrastructure development, including land funds, facilities to connect buses and other means of transport or investment in clean-energy buses, etc., and enjoy soft loans. These enterprises will also enjoy duty exemption for imported spare parts and components to manufacture and assemble […]