The Hong Kong Business Association Vietnam – HKBAV is a non-profit, non-governmental, and non-political voluntary Membership Association of Hong Kong business in Vietnam that was established in HCMC in 1999 and Hanoi in 2012. The aim of HKBAV is to provide interaction among Members and the local/international business communities. We welcome Members of all nationalities who are interested in having business relations with Hong Kong and its members operating in Vietnam. HKBAV has since earned a bona fide reputation amongst the International Business communities in Vietnam through the activities it organized. Being one of the Consortium Associate Members.
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View allMANAGING TAX RISKS IN E-COMMERCE
In the first half of 2024, tax authorities addressed violations involving 4,560 taxpayers including 1,274 enterprises and 3,286 individuals, resulting in tax collections and fines totaling VND297 billion. With domestic e-commerce revenue estimated at VND1.98 trillion and taxes paid amounting to approximately VND54,000 billion, there is still much room for further tax collection, according to official assessments.
VIETNAM SET FOR 6.1% ECONOMIC GROWTH IN 2024
According to the latest Taking Stock report by the World Bank, Vietnam's economic outlook for 2024 is optimistic, with growth projected to accelerate due to a rebound in manufactured exports, tourism, consumption, and investment. The report forecasts a 6.1% expansion in Vietnam's economy for 2024, with further growth anticipated at 6.5% in both 2025 and 2026.
INDUSTRIAL INNOVATION TO BOOST SUSTAINABLE GROWTH FOR THE SOUTHEAST REGION
The People's Committee of HCM City said that the Industrial Production Index (IIP) increased by 6.4 per cent in the first eight months of 2024 compared to the same period last year, with the mining sector growing by 51.4 per cent, manufacturing by 6.1 per cent, and electricity production and distribution by 6.7 per cent.