HCM CITY HOUSING MARKET PERFORMED STRONGLY IN Q4
[09-01-2015] The housing market in this southern city performed strongly during the fourth quarter of last year, according to a Savills Viet Nam report released on January 8. The total villa/townhouse transactions during the fourth quarter surged sharply by 56 per cent quarter-on-quarter, and the absorption rate for this segment was 37 per cent, up 3 percentage points from the previous quarter.
NEW POLICIES TAKE EFFECT IN JANUARY
[08-01-2015] Policies on increasing minimum wage, health insurance payment, personnel cuts, and plant quarantine have come into effect since January 2015. Regional minimum wage increases. The new Decree on monthly minimum wage for employees working for companies, enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers has been applied since January 1, 2015.
PWC: PRUDENTIAL RATIOS FOR THE OPERATIONS OF CREDIT INSTITUTIONS
[08-01-2015] After a long time looking into those practical issues that the Vietnam banking system has been facing, on 20 November 2014, the State Bank of Vietnam (“the SBV”) issued Circular 36/2014/TT-NHNN (“Circular 36”) regulating prudential ratios for the operations of credit institutions (“CIs”) and foreign bank branches.
UPDATED POLICIES ON FOREIGNERS
[04-01-2015] A string of fresh policies on foreign-related elements were introduced in 2014 including foreign strategic investors, sub-lease of job, preferential corporate tax, international goods trading activities with foreigners, temporary import for re-export, and indirect investment capital account.
FOREIGN CAPITAL TO RETURN TO REAL ESTATE MARKET IN 2015
[05-01-2015] The year 2014, which witnessed the recovery of foreign capital inflow to the real estate sector, also saw money for registered investment projects disbursed. Analysts feared that the Vietnamese real estate market would no longer be attractive to foreign investors, particularly after flows dropped substantially in the last few years, after reaching a peak of $23.6 billion in 2008.
CAM RANH AIRPORT TO REFUND VAT TO FOREIGNERS LEAVING VIETNAM FROM JAN 6
[03-01-2015] Cam Ranh International Airport in the south-central province of Khanh Hoa will officially open its VAT refund booth for foreigners next week, six months after it received approval from the Prime Minister to do so. The Khanh Hoa branch of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has been allowed by the Ministry of Finance to handle VAT refund receipts for foreigners at the airport, starting on January 6, according to Dinh Van Luan, deputy head of the provincial customs.
PWC: EASE OF CUSTOMS BOOSTED BY NEW LAWS
[23-12-2014] As the new Law on Customs will become effective on January 1, 2015, the Ministry of Finance and the General Department of Customs are drafting circulars to guide its implementation. Several new circulars are being drafted for customs procedures, e-customs, toll manufacturing, and post-customs clearance audits and inspection.
NEW LAWS ANNOUNCED
[14-12-2014] The Presidential Office on December 12 held a press conference to announce eight laws, which have been adopted at the eight session of the 13th National Assembly. They include the Laws on Civil Status, Investment, Enterprises, Occupational Education, and Management and Use of State Capital in Production and Business, and the Laws on amendments and supplements to some articles of the Laws on Enforcement of Civil Judgements, Taxation, and Special Consumption Tax.
