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The Hanoi People’s Committee has approved in principle to allow Binh Duong Investment and Trade JSC (Becamex ITC) to study the development of a software and digital content park in the capital’s Dong Anh district, according to newswire Cafef.
The five-fold visa fee increase for U.S. visitors to Vietnam has surprised not only Americans, but also the country’s tourism watchdog, which claims to not have been consulted on the decision.
Vietnam aims to privatise its $3 billion Dung Quat oil refinery by June 2017, with energy firms from Russia, Thailand and Kuwait expressing interest in taking a strategic stake, the head of the refinery’s operator said on Wednesday.
Five of 38 large State-owned enterprises (SOEs) incurred losses in 2014 totaling over VND4 trillion ($180 million) while many other big names have doubtful debts on their books, according to an audit report for 2014 released on August 26 by the State Audit Office of Vietnam (SAV).
Automobile makers in Vietnam cannot take advantage of the booming demand for cars of the people due to a sore lack of parts suppliers.
Fitch Ratings recently released a report on Vietnam’s banking sector, saying that Vietnam’s strong economic performance is helping the country attract much-needed foreign capital into its banking system.
The Việt Nam Textile and Garment Group (Vinatex) inaugurated its new garment factory, worth nearly VNĐ127 billion (US$5.7 million), in the central province of Nghệ An late last week.
Two subsidiaries of Samsung Electronics in Vietnam earned huge profits of VND70 trillion in 2015, but did not have to pay VND13 trillion in corporate income taxes as it enjoys tax incentives.
Japan has agreed to an ODA deal on Tuesday worth US$108.37 million for Vietnam to boost its socio-economic development in the 2016 fiscal year.
Potential threats to the nation’s economic sovereignty, natural environment and social fabric should be limited to the maximum extent possible, a foreign investment expert has said.
As the governments of the US, Australia and Canada have tightened their immigration policies, Vietnamese consultancy firms are now advising wealthy Vietnamese to apply for citizenship in countries which have more open regulations, especially in Europe.
Many Japanese companies are exploring investment opportunities in the Vietnamese food market, which is expected to grow at around 5 percent this year.
