VIETNAM’S NON-CASH PAYMENT MARKET BOOMS IN Q1
The figures suggest that mobile transaction has turned more popular in Vietnam, in tandem with the Government’s push for the development of non-cash payment methods, according to the Payment Department under the State Bank of Vietnam.
INVESTORS STILL WAITING FOR NEW RENTAL PRICES AT SAIGON HIGH-TECH PARK
Dozens of businesses that want to invest in Saigon High-Tech Park (SHTP) in District 9 have not received approval because the city has yet to announce new land rental prices for public land.
STATE CAPITAL DIVESTMENT FACES PRESSURE
According to the target set by Prime Minister Nguyễn Xuân Phúc, the State had been tasked with divesting from more than 400 SOEs over 2017-2020. In 2018 alone, the State should have divested capital from 181 enterprises, followed by 62 enterprises in 2019.
PROCESSING AND MANUFACTURING FIRMS EXPECT TO PERFORM BETTER IN Q2
About 91.3 per cent of foreign direct investment (FDI) enterprises in the processing and manufacturing industry were optimistic that their business situation in the second quarter would be better and more stable than in the first.
AT A LOSS OVER FTAS
The textile and garment industry may fail to take tariff advantage from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) as it cannot tackle the issue of local materials. Meanwhile, the Government and local authorities are still undecided over the planning for the industry.
TAX REDUCTION FOR MEDIUM-SIZED FIRMS MAY PROMPT UNFAIR COMPETITION: MINISTRY
If a corporate income tax reduction is proposed for micro, small and medium enterprises as a whole, nearly all enterprises will be subject to the incentive, which may lead to unfair competition among them, stated Nguyen Quoc Hung, deputy director of the Tax Policy Department under the Ministry of Finance.
FIRST CITY RECEIVES DIRECT FINANCIAL SUPPORT FROM WORLD BANK
This is the WB’s first budget support program for a locality in Viet Nam, marking a strategic shift in the cooperative activities of the WB from sector-specific investments to supporting cross-cutting policy and institutional reforms.
WB OFFERS CREDIT TO SUPPORT HCMC’S INSTITUTIONAL REFORMS
The World Bank Board of Executive Directors on May 17 approved a US$125 million credit to assist HCMC in strengthening its institutional foundations for sustainable urban development.
