Business News

[02-02-2015] The Alert update on Decree No. 08/2015/NĐ-CP, dated 21 January 2015 by the Government, providing guidance on the Law on Customs No. 54/2014/QH13. The Decree shall take effect from 15 March 2015, replacing Decree No. 154/2005/NĐ-CP dated 15/12/2005 and other related regulations.

[23-01-2015] Vietnamese garment and textile companies are targeting a total export turnover of an estimated USD3 billion to the Republic of Korea this year, Vietnam Investment Review reported. The total export turnover of Vietnam's textile and garment sector to the RoK reached USD2.4 billion last year, an increase of 27 percent compared to 2013.

[20-01-2015] The 2012 Labor Code which took effect on July 1, 2013 remains confusing to many businesses due to unclear language. Ho Xuan Dung, deputy general director of Windsor, said the regulations on calculating wages for laborers who work overtime are unclear.

[20-01-2015] Rising demand has led property inventory value to decline 21.8% against a year ago to more than VND73.8 trillion (US$3.46 billion), according to a recent report of the Ministry of Construction. The ministry said in the report that there were around 11,450 successful housing transactions in Hanoi and some 10,350 transactions in HCMC last year, a two-fold increase in the capital and a surge of 30% in HCMC.

[20-01-2015] Local authorities have been warned to think carefully before welcoming more foreign textile and garment investors, as they could likely suffer in the future. Vietnam in recent years has become an ideal destination for foreign textile & garment investors, especially the Chinese.

[19-01-2015] The construction ministry will focus on housing development this year, especially social housing projects, said Minister Trinh Dinh Dung at a meeting yesterday. Dung added that the real estate market was identified as one of the priority sectors of the ministry during this year, adding that it would continue to implement measures to tackle difficulties faced by the realty market in line with the implementation of the national housing development strategy.

[18-01-2015] HCM City is targeting to lure USD700 million of investment into its industrial zones and export processing zones in 2015, said the management board of the city’s Export Processing and Industrial Zone Authority (Hepza). According to the Head of Hepza Investment Management Office Tran Viet Ha, the zones attracted a total of USD752 million of investment in 2014, up 23 percent compared to 2013.

[16-01-2015] The HCMC government have licensed two foreign garment and textile firms to adjust up their investments to expand production and boost export. HCMC chairman Le Hoang Quan handed a certificate for capital increase to Worldon (Vietnam) Co. Ltd., which is invested by Gain Lucky Limited, which produces world-famous sportswear brands such as Nike, Adidas and Puma.