Foreign traders not present in Vietnam will have the right to export or import under Vietnamese law and international treaties that the country has signed. Foreign traders not present in Vietnam will have the right to export or import under Vietnamese law and international treaties that the country has signed. (Photo cafef.vn)This is one of several positive changes expected in the business environment as a set of new policies take effect early this year.The changes will directly impact import and export, production and business activities, officials have said.As the country integrates deeper into the global economy, importers and exporters have paid great attention to the Law on Foreign Trade Management, which is expected to improve the management of foreign trade activities in Vietnam.It is the first time that several provisions on anti-dumping, anti-subsidies and other safeguards are being written into law, and these are expected to make it easier to resolve trade disputes, thereby … [Read more...] about New trade, auto rules to usher in positive changes
New land enterprises
New trade, auto rules to usher positive changes
This is one of several positive changes expected in the business environment as a set of new policies that take effect early this year.The changes will directly impact import and export, production and business activities, officials have said.As the country integrates deeper into the global economy, importers and exporters have paid great attention to the Law on Foreign Trade Management, which is expected to improve the management of foreign trade activities in Vietnam.It is the first time that several provisions on anti-dumping, anti-subsidies and other safeguards are being written into law, and these are expected to make it easier to resolve trade disputes, thereby facilitating foreign trade.They stipulate that foreign traders not present in Vietnam can engage in export or import in compliance with provisions of Vietnamese law and international treaties that Vietnam is a party to.The law specifies administrative measures like prohibiting, restricting or stopping the import and export … [Read more...] about New trade, auto rules to usher positive changes
HCM City to focus on land, finance policies this year
The resolution, which takes effect on January 15, devolves decision-making on granting authority on several matters, including setting the salaries of civil servants whom the city manages.Speaking at a conference on socio-economic development plans and the city budget held yesterday, HCM City Party Committee Secretary Nguyễn Thiện Nhân said that, with the resolution, the city had a good base for development this year.Nguyễn Thành Phong, chairman of the city People’s Committee, said that plans to implement the policies would be carried out by March.To attract more investors, priority will be given to industrial parks, traffic infrastructure and high-tech areas, Nhân said.To reduce costs, Nhân said that capital acquired from land, land bids, and invitations for bids for projects should be used instead of designated contractors.The city should also invest more in science and technology, including creating an innovative urban area … [Read more...] about HCM City to focus on land, finance policies this year
A cake from a land of cultural confluence
The distinctive festivals, landmarks and other features also open a door to the Mekong Delta province’s unique culinary specialties influenced by its cultural diversity. For hundreds of years, the Pia cake (a cake filled with durian, shredded lard, salted egg yolk and mung bean paste), originally of the Hoa people, has been served and given as gifts by Soc Trang residents. The Pia cake is served on special occasions during the year, including weddings and the Full Moon Festival. This round cake is seen as a symbol of fullness and family reunion. The cake has a thin crust made of flour and a filling of durian, mung beans and taro with or without salted duck egg. The outer part can be uncovered layer by layer. As the cake is cut, the aroma of the filling is appetizing. The Pia cake It’s said that the Pia cake first appeared in Soc Trang in the 17th century when Hoa people migrated to the south of Vietnam. Over the years, Pia cake was adjusted to match the … [Read more...] about A cake from a land of cultural confluence
New policy highlights in 2017
Illustration photo Trade reconciliationDecree No. 22/2017/ND stipulating the scope, principles, sequence and procedures for resolving disputes through trade reconciliation came into effect since April 15.The settlement of disputes via trade reconciliation must ensure the principle of voluntarism and equality in terms of rights and duties between parties to the disputes who participate in reconciliation activities. Information relating to the reconciliation case must be kept secret, except in the case of a written agreement between parties or other regulations of the law.The contents of the reconciliation agreement shall NOT violate the law, go against social norms, seek to evade obligations and infringe the rights of the third party.A dispute could be handled through trade reconciliation if relevant parties have a reconciliation agreement. Parties can choose to resolve the dispute via trade reconciliation before, after the dispute occurrence or at any time of the … [Read more...] about New policy highlights in 2017
Gap to Fill in Agricultural Land Market Development Policy
Vietnam has issued a lot of legal documents related to the agricultural land use right market; however, the market has not worked well, failing to benefit the economy. There is a growing gap in the land policy that needs to be filled. 10 million hectares with 70 million plots The average farming area per household of the nation is 6,603.3 m2, with the largest in Northwest region with 15,872.4 m2 per household, the Central Highlands with 15,002.8 m2 per household, the Northeast with 9,275.4 m2 per household, the Southeast with 8,359.6 m2 per household, the Mekong River Delta with 7,994.9 m2 per household and the lowest in the Northern Delta with 2,440.5 m2 per household. The average ratio of the number land plots per household of the whole country is 3.9; the lowest ratio is in the Southeast (1.6 plots per household) and the Mekong Delta (1.5 plots per household); the highest ratio is 7.1 in the Northwest, and the Northeast is 6.3. Fragmentation and small scale of land lots … [Read more...] about Gap to Fill in Agricultural Land Market Development Policy
Realty firms want longer period for land use fee payment
Realty firms want longer period for land use fee paymentManh Tung By Manh Tung - The Saigon Times Daily HCMC – The Government has issued Decree 45 with more favorable conditions, including land use fee payment, but property enterprises still want laxer rules to ease their operations as the real estate market has shown little sign of recovery. Le Hoang Chau, chairman of the HCMC Real Estate Association (HoREA), said that realty firms expect that the land use fee payment duration would be extended to 180 days, instead of 90 days as stipulated in the decree. In fact, land use fee makes up a high ratio of investment in projects. HoREA earlier suggested the Government allow enterprises to pay land use fee based on the progress of their product sales and in a maximum duration of 24 months. If the rule is loosened, enterprises will have their financial burdens reduced, helping them lower prices for homebuyers. Aside from shortcomings, some experts said the 2013 revised Land Law, which … [Read more...] about Realty firms want longer period for land use fee payment
Government and Enterprises Jointly Improving Business Environment
Last year was another tireless journey for the Government and the business community to work together to improve the business environment to make Vietnam a world-class friendly destination. This is also an important milestone in the effort to create a conducive business environment to develop enterprises and constitute a government of action, facilitation and integrity to serve business development. In the Doing Business 2018 Report titled “Reforming to Create Jobs”, the 15th edition in the report series released by the World Bank (WB), Vietnam continued to climb 14 places in ease of doing business to No. 68 out of 190 economies, scoring 67.93 points on a 100-point scale. In 2017, the country was ranked No. 82 with a score of 63.83, an increase of nine places over 2016. Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said, last year, thousands of suggestions from entrepreneurs were collected and considered by government agencies and … [Read more...] about Government and Enterprises Jointly Improving Business Environment
HCM City’s new policies to boost competitiveness
HCM CITY — HCM City is set to create a more friendly and competitive business environment following a recent National Assembly resolution on piloting special policies for the city. Speaking at a meeting held in the city on Monday, Nguyễn Thành Phong, chairman of the city People’s Committee, said the city was committed to carrying out the resolution to enhance socio-economic development. Võ Văn Hoan, chief of the HCM City People’s Committee Office, said that a number of plans should be implemented immediately. Hoan asked agencies to conduct studies on decentralisation; revenue use from equitisation of state companies; payroll reform; and capital mobilisation, especially tax and fee increases or supplementation. Some types of taxes and fees will be applicable within five or 10 years, even though they are not feasible now, according to Hoan. The resolution approved by the National Assembly on piloting special mechanisms and policies for the … [Read more...] about HCM City’s new policies to boost competitiveness
Government highlights new opportunities for investors
At Hanoi-based Vietnam Business Forum (VBF) on December 12—a policy dialogue between the Vietnamese government and the business community—Prime Minister Nguyen Xuan Phuc highlighted new trends and opportunities that will have positive impacts on enterprises.Specifically, Vietnam is witnessing a rapid rise in the middle class. According to the ‘Vietnam 2035’ report—a joint Vietnam-World Bank Group study launched last year—the middle class makes up 10 per cent of Vietnam’s population now and is forecasted to rise to 50 per cent by 2035. Studies of high-profile organisations also showed the same results.“This will change the economy’s consumption structure, giving many new business opportunities to enterprises,” Phuc said.He also highlighted strong changes in the Vietnamese IT industry featuring the gradual development of automation and artificial intelligence. Vietnam has more than 52 million Internet users (over 54 per cent of … [Read more...] about Government highlights new opportunities for investors