Gov’t bans transfer of 30 technologies
The Government has approved the Decree 120/2014/ND-CP which expands the list of technologies banned from transfer from abroad into Viet Nam. Accordingly the number of banned technologies will be increased to 30 from the current 16 (stipulated in the Decree 133/2008/ND-CP), applicable from February 1, 2015. The Government will also prolong the list of technologies […]
Property rule hurts firms, buyers
The new regulation making it mandatory for property developers to make deposits is hurting both enterprises and home-buyers, as it is expected to be eventually absorbed into the selling price. Le Hoang Chau, chairman of the HCM City Real Estate Association (HoREA), made the remark at a conference to review the real-estate market, which was […]
Customs dep’t offers preferential treatment
Customs and storage agencies will be allowed to give preference to qualified businesses in a move to encourage the businesses, according to a newly-issued Government decree. As per Decree 08/2015/ND-CP, which was released this week, goods from qualified businesses will be checked, delivered or handled earlier than others. In case the goods require special checking […]
Ha Noi to raise smuggling fines
Deputy Prime Minister Nguyen Xuan Phuc has approved Ha Noi’s proposal to increase administrative fines for smugglers and manufacturers of fake products. He asked the Ministry of Finance to study the proposal and provide funding and equipment to Ha Noi to implement the plan. The proposal was made at a meeting held on Wednesday to […]
Tighter Management over Inefficient Funds
Restructuring investment funds is one of the first successes contributing to Vietnam’s stock market restructuring. Until 2004, Vietnam’s stock market had no fund management company. But within two years from 2006 to 2007, the stock market developed, the system of business organisations, securities services has seen rapid growth in both the number and size of […]
Press Release on issuance of Circular No.01/2015/TT-NHNN
The State Bank of Vietnam (SBV) issued Circular No. 01/2015/TT-NHNN on January 6 to stipulate trading and provision of interest rate derivative products of commercial banks and foreign bank branches. This Circular replaces Decision No.62/2006/QD-NHNN dated December 29, 2006 on regulations on execution of interest rate swap transactions. This Circular is applicable to commercial banks and foreign […]
New law drafted to prop up private sector
The Ministry of Planning and Investment is drafting a new law intended to guarantee breakthrough development in the private sector, said minister Bui Quang Vinh. Vinh told reporters in Hanoi on January 13 that he expected the draft of the law on small and medium enterprises (SMEs) to be completed and put on the table […]
Finance Ministry proposes abolishing a series of charges and fees
The Ministry of Finance has proposed abolishing, or shifting to the service price mechanism, 26 types of charges and fees in order to suit practical conditions. This is one salient point of the draft Law on Charges and Fees which is being circulated for public comments. Accordingly, 22 types of charges, including security and order […]
Implementing contents in amended laws on taxation
The Ministry of Finance sent Office Notice 17526/BTC-TCT to provincial and municipal people’s committees, departments of finance and departments of taxation on implementing some contents in the amended laws and supplementing a number of articles in laws on taxation adopted in the eighth session of the 13th National Assembly (NA). Some contents need to be […]
Tax incentives in building high-tech parks
The Ministry of Finance has given their opinions in a draft on approving the high-tech park development master plan based on Office Notice 17240/BTC-CST. The Ministry of Finance has agreed with the building of the high-tech park development master plan outlined by the Ministry of Science and Technology in a draft submitted to the prime […]