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VIETNAM ECONOMY INVESTMENT

BUSINESSES FACE CHANGING GLOBAL TRADE

“Your entrepreneurship and ardour inspire the Government to act more strongly and reform further and faster,” said Prime Minister Nguyen Xuan Phuc at the Vietnam Business Forum (VBF) 2018.

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MEMBER CORNER / PROMOTIONS

WMC GROUP APPOINTS NEW VICE PRESIDENT RESOURCES PLANNING & DEVELOPMENT

Windsor Property Management Group Corporation (WMC Group) has just announced the appointment of Mr. James Young to the position of Vice President Resources Planning and Development.

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VIETNAM ECONOMY INVESTMENT

PRESIDENT’S ORDER ON NINE NEW LAWS ANNOUNCED

The Presidential Office held a press conference in Hà Nội yesterday to announce the President’s order to promulgate nine laws which were adopted at the sixth session of the 14th National Assembly.

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VIETNAM ECONOMY INVESTMENT

VIETNAM - THE MOST ATTRACTIVE ECONOMY TO FOREIGN INVESTORS

“Integration and institutional reform are always the twins that generate main drivers for Vietnam's development,” said Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), at the Vietnam Business Forum (VBF) 2018 recently held in Hanoi.

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BANKING / FINANCE / INSURANCE / TAX

MORE BANKS PERMITTED TO EXPAND CREDIT GROWTH

The State Bank of Việt Nam (SBV) recently decided to allow more commercial banks to expand their credit growth limits in 2018. The credit quota for Military Bank (MB) has been lifted from 15 per cent allocated at the beginning of the year to its new level of 17 per cent, the Bản Việt Securities Company reported.

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PROPERTY / INDUSTRIAL ZONE

OVERSUPPLY OF HIGH-END REAL ESTATE

In the first 10 months of 2018, the real estate market in the whole country showed signs of decrease both in supply and volume of transactions. Especially, the sign of reduction was very clear in the two big cities of Hanoi and Ho Chi Minh City, said the Ho Chi Minh City Real Estate Association (HoREA) in its latest report.

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INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

START-UPS EMBRACE LOGISTICS SECTOR

The logistics sector has been the bottleneck for Việt Nam’s economic development, but offers plentiful opportunities for local startup companies with the application of technologies.

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LEGAL UPDATE / POLICY

POLICIES COME INTO EFFECT IN DECEMBER

A string of fresh policies on holiday salary, pensions for female laborers, social insurance for foreign workers shall come into effect in December.  Working duration serves as the basis for calculating severance allowance and redundancy pay The Government issued Decree No. 148/2018/ND-CP (“Decree 148”) on October 24, 2018 amending, supplementing certain guidelines of Decree No. 05/2015/ND-CP detailing the implementation of the Labor Code. Decree 148 shall become effective from December 15, 2018.