No stashing of money abroad: Party agency
HA NOI (VNS)— High-ranking Government and Party officials should be banned from keeping money in foreign bank accounts and owning property abroad, according to a proposal presented yesterday by the Central Internal Affairs Commission, an agency under the Party Politburo. The Commission held a conference yesterday to discuss ways to revoke property deals by corrupt […]
Payment caps proposed for foreign-investment housing projects
Investors of foreign-investment housing projects, who have not handed over the units to the buyers, will not be allowed to collect more than half of the apartment’s value.This is part of a draft regulation of the construction ministry – prepared on the basis of the law on the real estate business – that is now […]
New rules ease PPP implementation
The government recently released Decree 15 to provide a comprehensive legal framework for public-private partnership projects, replacing the old regulations. Net Le and Loi Huynh of LNT & Partners took a closer look. In November 2010, a pilot scheme of public-private partnerships (PPP) was introduced (Decision 71), which was expected to boost PPP projects in […]
Vietnam to raise environment tax on fuel, as import tariffs set to decrease
The government has gotten the green light to increase fuel’s environment tax rates threefold, expectedly from this May 1, in an attempt to mitigate losses resulted from the upcoming reductions in fuel’s import duties. Under a plan presented to the National Assembly’s Standing Committee on Tuesday, new environment tax rates will be VND3,000 (13 US […]
New policies take effect in March
Six decrees and one circular are scheduled to take effect in March. Retirement pension, social insurance allowance Retirement pension and social insurance allowance applicable for commune-level cadres who retire since January 1, 2015 shall be increased by 8%, according to the Government’s Decree No. 09/2015/ND-CP dated January 22, 2015. The Decree will take effect since […]
Gov’t plans to extend health cover to 75%
HA NOI (VNS) — The Vietnamese Government hopes to achieve 75 per cent health insurance coverage this year and 80 per cent by 2020, Prime Minister Nguyen Tan Dung said yesterday. Dung was speaking at a session to review the implementation of the Law on Health Insurance and the blueprint for universal health insurance. The […]
New decree cleans up PPP mode confusion
The government has just issued a long-awaited decree on public private partnership investment modes, replacing previous decrees intending to promote private investment in infrastructure to boost economic growth. The new decree (Decree 15/2015/ND-CP) does not include a limitation on state funding in a public private partnership (PPP), which will seek to cool investor anxiety over […]
Vietnam plans to sell operating rights for airports
Vietnam is planning to sell its sole airport on the resort island of Phu Quoc as well as the operating rights for several other airports, including Noi Bai in Hanoi, as the country tries to attract funds into the aviation sector. According to media reports, the Ministry of Transport is considering either putting the VND3-trillion (US$138.85 million) […]
Vietnam companies face fierce regional competition
VietNamNet Bridge – Vietnamese businesses could face losses in the domestic market as the country opens to the ASEAN member imports later this year in compliance with the ASEAN Trade in Goods Agreement (ATIGA), according to experts. ATIGA, the bloc’s first comprehensive pact related to the intra-trade of goods, is based on the collection of […]
Investment promotion zeros in on specific targets
Do Nhat Hoang, director of the Ministry of Planning and Investment’s Foreign Investment Agency spoke to VIR about new points in the investment promotion strategy this year to improve the country’s foreign direct investment attraction. What are the main points in attracting foreign direct investment this year? The Ministry of Planning and Investment will continue […]