Business News

[04-04-2016] Prime Minister Nguyen Tan Dung has approved the State Bank of Vi?t Nam's (SBV) proposal to extend the VNÐ30 trillion (US$1.3 billion) housing stimulus package until disbursement of all associated funds is completed. Dung asked the central bank to complete disbursement of the stimulus package with a preferential interest rate, instead of closing it on June 1.

[05-04-2016] Real estate developers are raising their land funds via mergers and acquisitions as well as stock purchases, instead of conducting land clearances and compensation, which often take time and money. According to Alex Crane, general director of Cushman & Wakefield Vietnam, foreign developers in particular are using mergers and acquisitions (M&As) and buying stakes to raise land funds.

[04-04-2016] The National Assembly will vote for the Government's proposal to extend the validity of temporary visas for US citizens from three months to one year on April 9. The move was decided after State President Tran Dai Quang presented a statement to suggest the NA ratify the Diplomatic Note on Visa Granting between Viet Nam and the U.S on April 4 during the ongoing 11th session of the 13th National Asssembly.

[05-04-2016] On 5 February 2016, the Ministry of Finance issued Circular No. 21/2016/TT-BTC (“Circular 21”) providing detailed guidance on VAT declaration and CIT incentives for organizations and individuals having income from supporting industry as stipulated under Decree No. 111/2015/ND-CP dated 3 November 2015. Circular 21 will be effective from 1 April 2016. Accordingly, Deloitte would like to summarize some notable points of Circular 21 in the attached Alert for your information.

[30-03-2016] The Ministry of Finance will co-ordinate with the Ministry of Transport and Hai Phong Port authority to deal with containers that are lying unused at Hải Phòng Port by the end of April. Cao Trung Ngoan, deputy general director of Hai Phong Port, said nearly 1,000 containers, filled with goods subject for re-export, mostly used tyres, have been left at the port for months.

[30-03-2016] Viet Nam’s textile and apparel sector remained passive in global value chains, said Nguyen Cam Tu, deputy minister of industry and trade, at a workshop yesterday in Ha Noi. The workshop discussed ways to promote the participation of APEC small- and medium-sized enterprises (SMEs) of textile and apparel global value chains.

[30-03-2016] Some commercial banks have recently taken international loans to meet their long-term capital demands. Sài Gòn ThÆ°Æ¡ng Tín Commercial Bank (Sacombank) has inked a contract to borrow US$50 million from Cathay United Bank to secure capital for the provision of medium and long-term loans.

[28-03-2016] The National Assembly (NA) on March 21 gave the nod to a Government proposal to downsize industrial zones (IZs), economic zones (EZs) and some infrastructure projects from now to 2020.