Business News

[16-07-2015] On 7 July 2015, the United States of America signed in Washington D.C an income tax treaty with Vietnam. The tax treaty, although not yet in force, marks a positive and substantive development in bilateral economic relations since the normalization of relations between the two countries 20 years ago.

[14-07-2015] Dong Nai Port in the southern province of Dong Nai hopes to be able to handle 20 million tonnes of goods a year by 2020, four times the current capacity. The port is expected to be one of the leaders in the country in terms of goods handling capacity, said the director of Dong Nai Port JSC, Nguyen Thi Bach Mai.

[13-07-2015] Seven large-scale logistics centers will be up and running in different parts of the country in the next five years as envisaged in a master zoning plan for national logistics development until 2020 and with a vision towards 2030.

[10-07-2015] Two long-awaited amended laws on housing and real estate, effective from July 1 and expected to have a significant impact on the property market, may not be as effective. The two new laws were introduced amid the recovery of the property market starting from the end of last year, after seven years remaining frozen, with amendments to drive the market back on track. Still, market participants are awaiting further detailed instructions.

[13-07-2015] Vietnam will deploy new programmes to attract more international tourists following recent bold steps to stop the sharp decline in the number of inbound visitors. Vietnam National Administration of Tourism (VNAT) authorities last week  suggest the government waive the tourist visa requirement for member countries of the Commonwealth of Independent States, known as SNG, Eastern Europe, Australia and New Zealand.

[08-07-2015] Although the number of foreign guests at four- and five-star hotels in the nation’s south rose 10% last year, upscale hotels saw room occupancy and tariffs declining due to mounting competition, Grant Thornton Vietnam said.

[07-07-2015] Two long-awaited amended laws on housing and real estate, effective from July 1 and expected to have a significant impact on the property market, may not be as effective. The two new laws were introduced amid the recovery of the property market starting from the end of last year, after seven years remaining frozen, with amendments to drive the market back on track. Still, market participants are awaiting further detailed instructions.

[06-07-2015] A $1.2 billion property project by Gaw Capital Partners has been given the go-ahead to begin construction in Ho Chi Minh City. An investment certificate was granted last week to Denver Power, a subsidiary of Gaw Capital Partners, together with Tien Phuoc Real Estate and Tran Thai Lands  for the development of their new Thu Thiem Observation Tower, also known as Empire City.