FINANCE MINISTRY PROPOSES LOWER TAX RATE FOR MICRO AND SMALL ENTERPRISES
To support micro and small enterprises to accumulate capital and develop business, the Ministry of Finance (MoF) has proposed lowering the corporate income tax rate to 15-17 per cent for those with a total revenue of no more than 50 billion VND (1.99 million USD), instead of the current flat rate of 20 per cent. Workers at an electronic factory in the southern province of Dong Nai (Photo: VNA) Hanoi – To support micro and small enterprises to accumulate capital … Continue reading FINANCE MINISTRY PROPOSES LOWER TAX RATE FOR MICRO AND SMALL ENTERPRISES
HONG KONG’S EXPERTISE TO HELP DEVELOP HO CHI MINH CITY
During his visit to Vietnam from July 31–August 2, Hong Kong chief executive John Lee expressed his willingness to share the special administrative region’s experience of building a global a financial centre with Ho Chi Minh City. John Lee, Hong Kong chief executive In addition to financial centre development, Lee aims to enhance cooperation with Vietnam in trade, investment, finance, banking, tourism, aviation, and emerging sectors such as innovation and technology, sustainable development, and green finance. Recognising Vietnam as a … Continue reading HONG KONG’S EXPERTISE TO HELP DEVELOP HO CHI MINH CITY
VIETNAM REPORTS $18 BILLION IN FDI BETWEEN JANUARY AND JULY
Vietnam reported more than $18 billion in foreign direct investment (FDI) in the year to July 20, an on-year increase of 10.9 per cent, according to data from the Foreign Investment Agency under the Ministry of Planning and Investment. In the first seven months of 2024, 1,816 new projects were granted investment registration certificates, with the total registered capital of over $10.76 billion, up 11.6 per cent in the number of projects and up 35.6 per cent on-year in terms of … Continue reading VIETNAM REPORTS $18 BILLION IN FDI BETWEEN JANUARY AND JULY
READY-BUILT FACTORY MARKET ON THE UP
In the first half of 2024, the industrial real estate market continued to show positive developments. Rental price of industrial land and its growth over recent years According to the last week’s report of CBRE, a global commercial real estate services provider, for the industrial land market, industrial land prices in Tier 1 markets in the North in the second quarter increased by 0.3 per cent on quarter and 4.5 per cent on-year, reaching an average of $134 per square … Continue reading READY-BUILT FACTORY MARKET ON THE UP
INDUSTRIAL PARKS INCREASE SUPPLY OF HIGH-QUALITY READY-BUILT FACTORIES
The strong development of the industrial real estate market has promoted the ready-built factory segment in the eyes of international and domestic manufacturers. According to the General Statistics Office, by May 2024, foreign direct investment (FDI) flow into Vietnam had continued to achieve positive results, with more than $11 billion pledged, an increase of 2 per cent over the same period last year. Meanwhile, disbursed capital reached about $8.25 billion, an increase of 7.8 per cent over the same period … Continue reading INDUSTRIAL PARKS INCREASE SUPPLY OF HIGH-QUALITY READY-BUILT FACTORIES
WORLD BANK: CAI MEP PORT RANKS AMONG TOP 7 MOST EFFICIENT CONTAINER PORTS GLOBALLY
On June 4, 2024, the World Bank and S&P Global Market Intelligence published a report on the Container Port Performance Index 2023. Vietnam’s Cai Mep Port Cluster is in the top 10 most efficient container ports in the world for the first time, ranking 7th, the 5th highest in Asia, and only behind Tanjung Pelepas Port in Southeast Asia. This ranking is based on criteria related to the time it takes for container vessels to complete the loading and unloading … Continue reading WORLD BANK: CAI MEP PORT RANKS AMONG TOP 7 MOST EFFICIENT CONTAINER PORTS GLOBALLY
FOREIGN INVESTMENT DISBURSEMENT HITS RECORD HIGH IN THE FIRST FOUR MONTHS
Foreign investment inflows into Viet Nam in the reviewed period also saw a modest increase of 4.5 per cent to nearly $9.27 billion. Hanoi — Foreign investment disbursement in the first four months of this year reached an estimated US$6.28 billion, marking a record high over the past five years, as shown in a report from the Ministry of Planning and Investment’s Foreign Investment Department (FIA). The report indicates that foreign investment inflows into Viet Nam during the reviewed period … Continue reading FOREIGN INVESTMENT DISBURSEMENT HITS RECORD HIGH IN THE FIRST FOUR MONTHS
CONDITIONS FOR BORROWING LOAN OF SMALL- AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT FUND FROM JUNE 10, 2024
On April 26, 2024, the Government issues the Decree No. 45/2024/ND-CP on organization and operation of small- and medium-sized enterprise development fund. Decree No. 45/2024 amends and supplements a number of provisions prescribed in Article 16, Decree No. 39/2019/ND-CP on organization and operation of small- and medium-sized enterprise development fund. Accordingly, conditions for loan borrowing of small- and medium-sized enterprise development fund are as follows: To meet the criteria for innovative small- and medium-sized enterprises as prescribed in the Law … Continue reading CONDITIONS FOR BORROWING LOAN OF SMALL- AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT FUND FROM JUNE 10, 2024
SHANGHAI TO BOOST TRADE WITH VIETNAM
During his visit to China on April 11, Vietnamese National Assembly Chairman Vuong Dinh Hue, along with a high-level delegation, toured the Shanghai Free Trade Zone (SHFTZ) and engaged in discussions with the leadership of the Shanghai People’s Congress and the city authorities. Hue was briefed on the SHFTZ’s establishment, development, and its significant achievements. “We exchanged views on institutional frameworks, operational mechanisms, and the unique, targeted policies that have been instrumental in the development of the SHFTZ,” Hue said. … Continue reading SHANGHAI TO BOOST TRADE WITH VIETNAM