Business News

[18-04-2016] The real estate market in Vietnam has seen groundbreaking merger and acquisition deals during this year’s first quarter, with the total monetary volume reaching several hundred million dollars. The deals were made by both local and overseas players looking to consolidate their presence in Vietnam.

[18-04-2016] Nha Trang Port JSC has received a licence to revive Van Phong Port in the central province of Khanh Hoa, which stalled several years ago after the original investor ran out of funds. Hoang Dinh Phi, deputy head of the Van Phong Economic Zone – where the port will come up – said an investment certificate has been issued for the VND417 billion (US$18.7 million) first phase of the port.

[18-04-2016] Maersk Line launched a direct service connecting Vietnam’s southern coast province of Ba Ria-Vung Tau and the East Coast of the United States late last week. Arthur Maersk was the first container ship that docked at the Tan Cang-Cai Mep port of Saigon Newport Corporation (SNP) last Friday.

[14-04-2016] The Vietnam National Administration of Tourism (VNAT) is seeking government approval to extend visa exemptions for Western European tourists. According to head of the VNAT Nguyen Van Tuan, the visa exemption policy for visitors from the UK, France, Germany, Italy and Spain will expire on July 1 this year so the administration has proposed extending the policy.

[13-04-2016]  Newly-elected Deputy PM Vuong Dinh Hue cut a ribbon to open Viet Nam Expo 2016 on April 13 in Ha Noi. The event drew the attendance of Minister of Industry and Trade Tran Tuan Anh and Ambassadors of 23 participating countries and territories.

[15-04-2016] On April 6, 2016, The National Assembly has passed the Law on Export & Import Duties 2016, with various changes which may have significant impacts on your import/export activities. The new Law shall take effect from September 1, 2016, replacing the Law on Export & Import Duties No. 45/2005/QH11. Accordingly, Deloitte would like to summarize some notable points of the new Law in the attached Alert for your information.

[13-04-2016] The World Bank has revised down its 2016 growth forecast for Vietnam to 6.2% from the earlier projected 6.5%. Sandeep Mahajan, lead economist of the WB in Vietnam, said Vietnam’s projected growth would moderate to 6.2% due to slower private consumption and investment growth.

[12-04-2016] Long- and medium-term credit squeeze will undoubtedly affect the verve of real estate companies. In Vietnam, long- and medium-term credit increased rapidly, reaching 29 per cent in 2015, accounting for nearly 50 per cent of total loans.