NUMBER OF NEW REALTY COMPANIES SURGES
[09-03-2015] The number of new property trading firms established during January and February this year surged 88.8% from the same period last year, according to the General Statistics Office. The real-estate sector also saw a large number of firms resuming operations, up 52.8% from a year ago.
DELOITTE: UPDATE ON NEW CIRCULAR 26
[10-03-2015] The Alert update on Circular No. 26/2015/TT-BTC, dated 27 February 2015 by the Ministry of Finance, providing detailed guidance on VAT and Tax administration under Decree 12/2015/ND-CP on the implementation of the Law 71/2014/QH13, and amending, supplementing a number of articles from the Circular 34/2014/TT-BTC on invoice for goods and services. This Circular is in effect from 1 January 2015.
VIETNAM PLANS DEVELOPMENT OF 4G SERVICES
[03-03-2015] Vietnam is expected to start developing 4G services by the end of 2015, experts believe, adding that the services will ensure competitiveness and enjoy widespread popularity. According to Doan Quang Hoan, director of the Vietnam Authority of Radio Frequency Management, the country has been making efforts to adopt frequency bands for the development of 4G services, foreseeing the trends in new technologies.
HONG KONG FIRM INVESTS IN HIGH-END HCM CITY APARTMENT
[03-03-2015] Hong Kong-based private-equity, real estate and financial investment player Hamon Group and Vietnamese property company SonKim Land have last week signed an agreement to develop a high-end property project in HCM City's in District 2 called Gateway Thao Dien.
AREA CODES FOR FIXED LINES CHANGED
[01-03-0215] The Ministry of Information and Communications issued Circular 22/2014/TT-BTTTT dated December 22, 2014 on telecommunication number storages, which covers changes to provincial area codes for fixed lines, applicable since March 1.
LEGAL DOCUMENTS €“ JANUARY 2015
[02-03-2015] The Government and the Prime Minister issued 10 decrees and three decisions, respectively, in January 2015:
Decrees:
FOREIGN WORKERS MUST STAY UP-TO-DATE ON RESIDENCE RULES
[28-02-2015] Foreign employees can reside in Viet Nam either temporarily or permanently, depending on certain conditions.
WAGES INCREASED FOR LOW-INCOME OFFICIALS
[26-02-2015] The Government has issued a Decree on increasing salaries for civil and public servants, officials working at the armed forces and employees of socio-political organizations with a salary grade at or below 2.34. Accordingly, these subjects will enjoy an 8% added to their monthly wage since January 1, 2015. The additional wage would be calculated using the formula: salary grade x minimum wage (1,150,000 VND) x 8%.
