TAX INCREASES ON ALCOHOLIC BEVERAGES SHOULD STRIKE A BALANCE: ECONOMISTS
Among these, a draft amendment to the Special Consumption Tax Law is expected to be presented to the National Assembly next month and can be approved as early as May next year. The tax has been reported to take an upward trajectory, taxing alcoholic beverages starting from 2026, reaching as high as 100 per cent by 2030.
HONG KONG SEEKS TO BUILD ON ASEAN RELATIONSHIP
The summit, co-organised by the Hong Kong Special Administrative Region (HKSAR) government and the Hong Kong Trade Development Council (HKTDC), will be held September 11-12, and is expected bring together over 80 key officials and business leaders to explore opportunities across the Belt and Road Initiative (BRI), with a special focus on ASEAN markets and Hong Kong’s unique position as a financial hub.
GLOBAL TRADE HUB COULD BE ANSWER FOR TEXTILE SEGMENTS
With the leather, footwear, and textile industries mainly processing with low added value, the establishment of an international trade centre for the development of raw materials will help the industry develop sustainably.
SCG ACHIEVES SINGAPORE GREEN LABEL WITH ESG-DRIVEN GREEN PRODUCTS
SCG Concrete Roof Vietnam Co., Ltd. (CRVC) recently announced that its SCG Color Roof is the first concrete tile brand in Vietnam to achieve the Singapore Green Label certification as of July 2024. This recognition highlighted SCG's commitment to high quality and environmental responsibility.
30,000 F&B OUTLETS SHUT DOWN IN FIRST SIX MONTHS OF 2024
As of the end of June, Vietnam had around 304,700 F&B stores, down 4 per cent compared to the same period last year. More than 30,000 stores have closed nationwide, with a limited number of new openings, according to market analysis by iPOS.vn.
HONG KONG INVESTORS BUILD ON GROWING VIETNAM INTEREST
Winnie Lam, general secretary of the Hong Kong Business Association Vietnam and COO of Avison Young Vietnam, said, “Hong Kong has consistently been a top foreign investor in Vietnam. Many multinational corporations use Hong Kong as their regional hub and a gateway to Vietnam. Additionally, numerous Hong Kong investments are channelled through offshore entities such as the BVI.”
NEW LAND AND HOUSING LAWS EXPECTED TO BETTER ALLOCATE RESOURCES FOR ECONOMIC GROWTH
Starting August 1, 2024, three key laws - the 2024 Land Law, the amended Housing Law, and the amended Real Estate Business Law came into effect. These laws are expected to significantly boost the land, housing and real estate markets by improving legal frameworks, enhancing policy mechanisms, removing obstacles, and better allocating resources for economic growth.
CHINESE INVESTMENT INFLOW BECOMING STRONGER WITH HIGHER QUALITY: INSIDERS
Last month, a delegation from China's Sunwoda Group visited the northern province of Bac Giang to seek investment opportunities. Xiang Hai Biao, General Director of the firm said that Sunwoda plans to build a 300-million-USD factory in the locality to produce electronic components. Previously, Sunwoda built a factory in Bac Giang.
