Want to be in the loop?
subscribe to
our notification
Business News
NEW POLICIES TAKE EFFECT IN MARCH
A string of new policies on certificates of land use rights, casino business activities for Vietnamese residents, horse and greyhound racing and international football betting, and government guarantee come into force in March.
Grant of certificates of land use rights
Decree 01/2017/ND-CP, dated January 6, 2017, took effect on March 3, 2017, amends and supplements some Decrees on guidelines for the Land Law namely Decree 43/2014/ND-CP, dated May 15, 2014 detailing a number of articles of the Land Law; Decree 44/2014/ND-CP, dated May 15, 2014 on land prices; Decree 47/2014-ND-CP, dated May 15, 2014 on on compensation, support and resettlement upon land recovery .
Land lease contracts and land use right mortgage contracts shall terminate upon the government’s expropriation of lands.
Electronic social insurance papers
Decree 166/2016/ND-CP, dated December 24, 2016 on electronic transactions in the sector of social insurance, health insurance and unemployment insurance took effect since March 1, 2017.
Electronic social insurance papers can be submitted electronically via the website of Vietnam Social Insurance or IVAN 24 hours a day and seven days a week.
The receiving agency shall send a confirmation, in no more than 15 minutes upon its receipt of the electronic social insurance papers, to the email address of the person who made the submission.
Pilot casino business activities for Vietnamese residents
Decree 03/2017/ND-CP, dated January 16, 2017 regulating casino business activities for Vietnamese residents shall take effect since March 15, 2017.
Accordingly, Vietnamese citizens shall be allowed to place their bets in casinos for a trial period of three years, from the date the first casino operator successfully obtains their license for Vietnamese gambles.
The trial casino entry opens for Vietnamese who must be at least 21 years old, have a monthly regular income of minimum VND10 million (US$454.5), and are capable of civil actions.
The decree also loosens conditions for businesses to get investment licenses for casino operations, in terms of investment capital.
Accordingly, the total investment capital required for a casino project would be trimmed from US$4 billion to US$2 billion, given disbursed capital must reach at least US$1 billion.
Limits on horse, dog racing, int'l football betting
Decree 06/2017/ND-CP dated January 24, 2017 on horse, dog racing and international football betting shall come into force since March 31, 2017.
Accordingly, Vietnamese and foreigners aged full 21 years or older shall be allowed to bet on horse races, dog races or international football matches at a rate of between VND 10,000 and VND 1,000,000 for each betting product offered by a betting service provider.
To be granted a certificate of eligibility for horse racing or dog racing business, an enterprise must have a racecourse equipped with technological systems, technical devices and software to serve betting business. The enterprise will also be requested to work out a feasible business plan with betting ticket distribution methods and areas in conformity with regulations.
Source: VIR
Related News
MEMBER CORNER / PROMOTIONS
DOING BUSINESS WITH CHINA 2.0
As China continues to evolve into a global powerhouse in innovation, technology, and advanced manufacturing, understanding how to effectively engage with this market has never been more critical. Doing Business with China 2.0 is a flagship executive programme designed to equip business leaders with practical insights, strategic perspectives, and first-hand exposure to navigate China’s rapidly changing landscape.
HR / LABOUR/ EMPLOYMENT
VIETNAM TAPS AI TO CONNECT MILLIONS OF WORKERS WITH EMPLOYERS
Vietnam’s Ministry of Home Affairs on April 14 launched a national job exchange at vieclam.gov.vn, a key digital platform designed to directly connect more than 53.6 million workers with nearly one million businesses. The platform goes beyond a conventional job portal, positioning itself as a nationwide data-integrated ecosystem. Its technological highlight is the use of artificial intelligence (AI) to automatically analyze and match job vacancies with workers’ skills and experience.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
HCMC SET TO START WORK ON SEVEN MAJOR INFRASTRUCTURE PROJECTS
Ho Chi Minh City plans to simultaneously break ground on seven major infrastructure projects worth a combined VND380 trillion on the occasion of Vietnam’s Reunification Day (April 30). The projects are highly expected to unlock public investment and fuel economic growth. To prepare for the simultaneous launch, relevant departments and authorities have worked to streamline administrative procedures while maintaining legal compliance, with the goal of meeting conditions for groundbreaking on the occasion of the national holiday.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
VIETNAM GETS US$2.64 BILLION FROM SEAFOOD EXPORTS IN Q1
Vietnam’s seafood sector booked around US$927 million in export revenue in March, bringing the total in the first quarter of this year to US$2.64 billion, showed data from the Vietnam Association of Seafood Exporters and Producers (VASEP). China was the primary export market in Q1. Other markets such as the U.S., Japan and South Korea imported less due to weakened consumer spending and stringent technical barriers.
HOSPITALITY / TOURISM / ENTERTAINMENT
VNAT EYES 25 MILLION FOREIGN VISITORS IN 2026
In the first quarter of the year, international arrivals amounted to 6.7 million, up 12.4% from a year earlier and the highest level on record. Domestic travel reached an estimated 37 million trips, with total tourism revenue at around VND267 trillion. Global developments pose risks. Geopolitical tensions in the Middle East have driven up fuel prices, increasing transport and tourism service costs.
BANKING / FINANCE / INSURANCE / TAX
US$250-MILLION DEAL ADVANCES VIETNAM’S GREEN CREDIT PUSH
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has secured a US$250-million sustainable financing package to support green agriculture and small and medium-sized enterprises (SMEs), marking a major step in mobilizing international capital for priority sectors. The facility was arranged in partnership with the Asian Development Bank (ADB), alongside international partners including the Japan International Cooperation Agency (JICA) and the Government of Canada.
Events Sponsors
