Hanoi

Vietnam, Israel Sign Double Taxation Avoidance Agreement

Aug. 6 -The Vietnamese and Israeli government have signed an agreement to avoid double taxation charges. Tran Xuan Ha, Deputy Minister of Finance, told the People the agreement would create a clear and stable legal environment for taxation to help facilitate investors’ business in the two countries. Last year, bilateral trade amounted to US$163 million. […]

South Korea’s Top Retailer to Open Branch by 2013

Jul. 24 – South Korea’s top retailer, Lotte, has confirmed that it will be expanding to the Vietnamese market when it opens its first branch in 2013. The Lotte trade center will be located in Hanoi in partnership with the Coralis SA Company and spanning 65 floors. The building itself will cost an estimated US$280 […]

Can Tho City Reports Fastest GDP Growth

Jul. 15 – Can Tho City located in Vietnam’s Mekong Delta registered the fastest growth in gross domestic product (GDP) at 7.8 percent followed by Haiphong with 5.8 percent; Danang with 5.1 percent; and Ho Chi Minh City with 4.6 percent for the first half of the year. Hanoi was at fifth place with a […]

E-Customs Clearance Process Still Limited

HO CHI MINH, Jul. 14 – Despite being offered on a trial basis in Ho Chi Minh City and Hai Phong since 2005, the e-customs clearance service is still bogged by inefficiencies and delays. City customs departments are ill-equipped to handle the surge of applications because of insufficient bandwidth capacity sometimes aggravated by the country’s […]

Largest Software Park Approves US$316.45 Million Worth of Projects

By Fan Feng Jul. 9 – The country’s largest software park and high-tech industrial area, Hoa Lac Hi-Tech Industrial Zone, has approved the investment licenses of four projects worth a total of US$316.45 million. Shipbuilder Vietnam Shipping Industrial Group invested US$85.6 million for the Vietnam Ship Research Institute to house its national research and design […]

Hanoi Stock Exchange to Open on June 24

Jun. 15 – Vietnam will soon re-launch the Hanoi Securities Trading Center as the Hanoi Stock Exchange to serve as a new trading floor for unlisted public companies on June 24. The country’s main bourse will still be the Ho Chi Minh Stock Exchange while the Hanoi Stock Exchange will provide the market for listed […]

Vietnam Implements Policies to Promote Tourism

Jun. 8 – In an effort to boost tourism, Vietnam is implementing new policies to cut taxes and offer value added tax refunds to tourists. Deputy Minister of Culture, Sports and Tourism Huynh Vinh Ai speaking at a recent forum held in Ho Chi Minh City,  said that cars with 25 seats or more meant […]

Japan’s FamilyMart to Expand in Vietnam

Apr. 27 – In a joint venture with Phu Tai Group, the Tokyo-based convenience store FamilyMart will set up its first store in Vietnam later this year. FamilyMart’s primary shareholder, the trading house Itochu Corporation, will assist with product development and distribution in the Southeast Asian country with the goal of establishing 300 stores by […]

Vietnam, China Complete Border Demarcation

Feb. 24 – China and Vietnam have completed the final demarcation of their land border located at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region.

The border, spanning 1,300-kilometers, begins at the junction of China, Vietnam and Laos and continues along the Beilun River to the coast.

On the Chinese side is Yunnan Province and Guangxi Zhuang Autonomous Region while on the Vietnamese side is Cao Bang, Lang Son, Dien Bien, Lai Chau, Lao Cai, Ha Giang, Guang Ninh.

Vietnam to Revamp Business Tax Procedures

Jan. 8 – Vietnam's tax agencies have been told to reduce the time it takes to fulfill tax and customs requirements from the average 1,050 hours annually to 800 hours.

The Deputy Minister of Finance, Do Hoang Anh Tuan, said that tax agencies should cut red tape to lessen the amount of time it takes for businesses to compny with tax formalities.

Tuan told Thanh Nien News that customs offices will start processing 80 percent of tax declarations online to save time. The plans for streamlining the tax process also include slashing the amount of time it takes to check export shipments by a third.