Business News

Bilateral trade between Viet Nam and the U.S. hit US$100.62 billion over the last 11 months of this year amidst the global trade slowdown. The above figure was announced at the U.S.-Viet Nam Trade and Investment Framework Agreement (TIFA) Joint Council Meeting that took place in Ha Noi on December 6.

Management authorities should not try to restrict the thin capitalisation of domestic enterprises by applying a loan interest expense cap regulation, the Vietnam Chamber of Commerce and Industry (VCCI) said. The Ministry of Finance (MoF) is collecting comments on a draft decree that amends and supplements Decree 132/2020/NĐ-CP on tax management for enterprises with associated transactions.

Public investment disbursement is in the final stretch. At the regular Government meeting held on December 6, Prime Minister Phạm Minh Chính said that there is very little time left in 2023, while there are many unfinished tasks. Therefore, the PM requested government members to propose solutions to achieve the set objectives.

As Vietnam's economy is rapidly expanding, outpacing their ASEAN peers, it presents a unique opportunity for investors, said an article published on the Israeli-based financial market news site seekingalpha.com. The article said such growth is underpinned by perse sectors, from high-tech manufacturing to natural resources, and bolstered by significant trade relationships, especially with the US and China.

Vietnam boasts huge potential to develop semiconductor and AI industries, and pledges to create favourable conditions for NVIDIA corporation, a leading chip producer in the US, Minister of Planning and Investment Nguyen Chi Dung said on December 11.

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According to the document, the solutions have been clarified in Decision 667/QĐ-TTg issued by the Government on June 2, 2022 approving the foreign investment cooperation in the 2021-30 period, and Decision 308/QĐ-TTg approving an action plan to realise the strategy.

Nearly 200 businesses in HCMC owe a combined tax debt of over VND8.08 trillion, with real estate companies featuring prominently among the top 20 entities with the highest tax arrears. The city’s tax department recently unveiled its second batch of tax debtors, with the list finalized on October 31.