FDI ATTRACTION UP 125.2% IN Q1
[05-04-2016] As of March 20, 473 new Foreign Direct Investment (FDI) projects were granted with investment certificates with a total registered capital of US $2.74 billion, a year-on-year increase of 125.2%, according to the Foreign Investment Agency, under the Ministry of Planning and Investment. Meanwhile, 203 operating FDI projects were added US$1.285 billion, up 107%.
VIETNAM BANKS RACE TO KEEP DOLLAR BORROWERS AS TIGHTENED LENDING CONDITIONS NEAR
[05-04-2016] Starting April 1, commercial banks in Vietnam are banned from offering corporate loans in currencies other than the dong, according to Circular No.24 the State Bank of Vietnam (SBV) announced in December last year. The ban targets businesses that exchange foreign currency loans into dong to pay for equipment and machinery, according to Bui Quoc Dung, head of monetary policy at the SBV.
VIETNAM GARMENT &TEXTILE UNDER TPP IMPACT
[05-04-2016] "Vietnam’s garment & textile exports used to grow 8 per cent every year when the trade agreements had not been applied and this was still one of the key industries of the economy.
MEASURING LENDING RATE IMPACTS ON CORPORATE INCOME TAX
[04-04-2016] As budgetary overspending is on the rise, to ensure income sources and increase the share of corporate income tax in the total budgetary revenue, the General Department of Taxation issued Decision 225/QD-TCT dated February 4, 2016 on the formation of a research team to measure lending rate impacts on corporate income tax value and propose solutions to enhance tax administration.
CREDIT FLOWS INTO MANUFACTURING SECTOR
[05-04-2016] More bank loans over the past few years have gone to the manufacturing sector, according to a State Bank of Vietnam (SBV) report. The report said bank credit was increased by 5.3% per year to gain an extra 1% in economic growth per annum in the 2006-2010 period.
US$1.3BN HOUSING STIMULUS TO BE EXTENDED
[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.
M&AS PAVE WAY FOR PROJECTS
[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.
VN TO GRANT ONE-YEAR VISA FOR U.S. CITIZENS
[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.
