Business News

[30-07-2015] The real estate market, especially the high-end segment, has seen a revival and is likely to develop strongly from here thanks to the amendments to the Housing Law that permits foreigners and overseas Vietnamese to buy housing since July 1st, experts have said.

[04-08-2015] The ASEAN Internship for University Students of Hong Kong Scheme (the internship scheme), which is initiated by the Hong Kong Economic and Trade Office of the Government of the Hong Kong Special Administrative Region (HKSAR) to provide opportunities for Hong Kong university students to undertake internships in ASEAN with a view to enhancing the bilateral relations between Hong Kong and ASEAN. The internship scheme was officially launched by Mr John C Tsang, Financial Secretary of HKSAR on 31 July 2014 in Singapore.

[30-07-2015] On 26 June 2015, the Government of Vietnam officially issued Decree No. 60/2015/ND-CP (Decree 60), amending and supplementing a number of articles of Decree No. 58/2012/ND- CP of the Government, dated 20 July 2012 (Decree 58), with respect to detailed guidelines for the implementation of a number of articles of the Law on Securities.

[25-07-2015] From July 1, foreign invested enterprises are allowed to re-lease their rented properties, and can acquire and own a completed building for their own use, provided that they did not develop it themselves.

[23-07-2015] Construction work on a hi-tech industrial park (IP) in the southern Dong Nai Province's Long Thanh District will begin this year. This is the first of its kind in the province. Chairman of the provincial People's Committee Dinh Quoc Thai said the park's establishment had complied with provincial development strategies to lure hi-tech and supportive projects to the locality.

[23-07-2015] Many housing developers are circumventing the law to profit from the national real-estate bailout programme, said vice-chairman of HCM City Real Estate Association, Nguyen Van Duc. The programme was set up to provide homes for low-income earners, but there is evidence that many people with considerable assets are fraudulently taking advantage of the scheme.

[21-07-2015] On 15 June 2015, the Ministry of Vietnam has issued Circular 92/2015/TT-BTC (“Circular 92”) providing guidance on implementation of Decree No. 12/2015/ND-CP dated 12 February 2015 amending and supplementing a number of Personal Income Tax (“PIT”) regulations. Circular 92 will take effect from 30 July 2015 and will be applied from the tax year 2015.

[21-07-2015] A preferential tax rate of 0 per cent will be imposed on imported materials, ancillary parts and components used for manufacturing major IT products from August 13, 2015. This was stated in Circular No 101, issued on June 29, 2015, by the finance ministry (MoF).