NEW REGULATION ON WAGES ISSUED
The Government has issued a decree to update provisions of the Labour Code relating to wages. The newly issued decree, which will take effect from November 1 this year, details regulations for wage scales, payroll and labour productivity norms.
VIET NAM’S STOCK MARKET CAPITALISATION REACHES 79.2% OF GDP
Việt Nam’s stock market capitalisation increased 13 per cent against the end of last year, reaching nearly VNĐ3.97 quadrillion (US$169.5 billion) by the end of August. This value was equivalent to 79.2 per cent of the country’s gross domestic product (GDP), according to the Ministry of Finance.
VIETNAM – ATTRACTIVE DESTINATION FOR ESTATE INVESTORS
Vietnam will become an attractive destination for real estate investment and business because of the high demand for housing, industrial park infrastructure, shopping malls, and tourism property.
KEY TRANSPORT INFRASTRUCTURE PROJECTS FACE CAPITAL SHORTAGE
Many major transport infrastructure projects such as the North-South Expressway, and Ring Road No.2 of HCMC may fall behind schedule due to shortages in investment capital and complicated mechanisms, reported Thanh Nien newspaper.
TAX ADMINISTRATION LAW REVISION TO FURTHER FACILITATE TAXPAYERS
The draft Law on Tax Administration (amended) adds a lot of new regulations to meet tax reform requirements to further help taxpayers. Mr Cao Anh Tuan, Deputy General Director of the General Department of Taxation, said, the draft law increases rights and facilitations for taxpayers. Specifically, taxpayers will know the time limit for tax refund, the value of unrefunded tax and legal reasons for unrefunded tax.
PROPOSAL ON INTERNATIONAL SEAPORT IN SOC TRANG TO BE SUBMITTED TO PM
At the end of the year, the government of the Mekong Delta province of Soc Trang will submit to the prime minister a proposal to upgrade the Tran De deep-water seaport in the province into an international port (IA grade), according to Soc Trang Vice Chairman Le Thanh Tri.
NEW POLICIES TAKE EFFECT IN SEPTEMBER
Policies on support regimes for the Vietnamese with meritorious services, sending and receipt of e-documents between agencies in the state administrative and standards for general education school Principals will come into effect since September 2018.
BIEN HOA PROPERTY MARKET BOOMING
The property market in Bien Hoa City in Dong Nai Province has been booming in the last few months. Prices of properties located near HCM City have increased by 10–20 per cent since Tet (Lunar New Year), while in the city centre they have increased by 10–25 per cent on average, though in some places they have gone up by 60 per cent.
