GARMENT, TEXTILE EXPORTS TO EXPAND
[01-12-2015] The garment and textile sector expects its exports will grow an average of 11.5 per cent per year between now and 2020, the Viet Nam Textile and Apparel Association (Vitas) said last week. Vitas reports said the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020.
LOGISTICS UPGRADE A MUST TO INTEGRATE
[30-11-2015] International logistics co-operation is essential for Viet Nam, especially in the context of global integration and ASEAN Economic Community (AEC), delegates heard at an international logistics conference held in HCM City yesterday.
NEW POLICIES TAKE EFFECT IN DECEMBER
[30-11-2015] New regulations on special financial supervision over State-owned enterprises, the establishment of social enterprises, the competence of environmental police, and the implementation of the revised Law on Investment are among new policies taking effect in December.
CUSTOMS TAKES ON BOTTLENECKS
[27-11-2015] Prime Minister Nguyen Tan Dung has approved the project to enhance efficiency of specialised checks in import and export in an effort to improve the business climate and enhance competitiveness.
PROPERTY MARKET: BIG ROOM FOR GROWTH
[25-11-2015] Vietnam’s property market is on the way to recovery. Riding this wave, new enterprises in this sector also increase in number. Also the flow of foreign investment is showing signs of returning to Vietnam. These are boosting investors’ confidence.
PWC: IMPORT REQUIREMENTS FOR USED MACHINERY, EQUIPMENT AND PRODUCTION LINES
[30-11-2015] On 13 November 2015, the Ministry of Science and Technology (MoST) issued Circular 23/2015/TT-BKHCN (“Circular 23”) prescribing the requirements and procedures for importation of used machinery, equipment and production lines classified under Chapter 84, 85 (except for headings from 8440 to 8443). Circular 23 will take effect on 1 July 2016.
DELOITTE: NEW DECREE ON REGION-BASED MINIMUM WAGE LEVEL
[27-11-2015] The Government has recently issued Decree No. 122/2015/ND-CP ("Decree 122") dated 14 November 2015 replacing Decree No. 103/2014/ND-CP dated 11 November 2014 to stipulate the updated region-based minimum wage levels for all types of enterprises.
MINIMUM REGIONAL WAGE TO INCREASE FROM 2016
[23-11-2015] Since January 1, 2016, monthly minimum wage for employees will surge from VND 2.4 million (US$114) to VND 3.5 million (US$166), according to Decree 122/2015/ND-CP on monthly minimum wage for employees. The beneficiaries include employees who work for companies, enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers.
