Business News

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HIGHLIGHTS OF DIPLOMACY IN 2019

The top events include the second DPRK-USA Summit, winning UNSC non-permanent seat, signing trade and investment deals with the European Union and new border treaty with Cambodia.

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FOREIGN BANKS MAY RETURN SOON

The completion of the sale of Vietcombank stake to foreign buyers in early 2019 and of BIDV at the end of last year may bode well for a comeback of foreign banks to Vietnam in 2020

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A NIGHT AT THE OPERA HOUSE WITH THE HONG KONG SINFONIETTA

A rare opportunity to see an orchestra of international repute, The Hong Kong Sinfonietta 香港小交響樂團 in their début concert in Vietnam during their 20th anniversary season. The HK Sinfonietta's Musical Director and conductor is Yip Wing-sie, one of the first women conductors in the world.

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HCM CITY CALLS FOR WB’S SUPPORT TO BUILD INT’L FINANCIAL CENTRE

At an event to unveil the WB’s Vietnam Development Report 2019, Chairman of the municipal People’s Committee Nguyen Thanh Phong said although the city has taken leading steps in development connectivity, the size of its economy remains modest with 58 billion USD. Therefore, despite a high annual growth rate, the local economy still lags far behind those of big cities in the region.

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MINISTRY EYES TIGHTENING CORPORATE BOND ISSUANCE AMID MARKET’S OVERHEATING

The ministry has made public a draft decree to amend several points of the Decree 163/2018/NĐ-CP about corporate bond issuance for comments, which included amendments of conditions for corporate bond issuance, rates, issuance approach in domestic and international markets, information disclosure and reporting mechanism.

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HANOI TAX DEPARTMENT TO SCRUTINISE TRANSFER PRICING IN 2020

In 2019, the Hanoi Tax Department made great achievements, with state budget collection hitting a five-year record high with tax collection reaching VND252.18 trillion ($10.96 billion), up 15 per cent on-year. Tax collection from manufacturing business rose 17 per cent on-year, up from the 11.2 per cent in 2016-2018.

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A LAVISH LUNAR NEW YEAR AT THE REVERIE SAIGON

The Royal Pavilion, the premier Cantonese restaurant in Ho Chi Minh City, is featuring two sumptuous banquet menus, for four or eight people respectively, or alternatively you can opt for the equally delightful a la carte selections. All of these menus are available from 15 January to 8 February.

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HCM CITY TO IMPLEMENT E-TAX SYSTEM FROM FEBRUARY 10

According to the State Bank of Việt Nam, promoting online payment for public services is one of the goals of the Government. Previously enterprises had to pay tax at the Treasury or a bank, take the payment receipt to customs authorities and wait.

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VIETNAM TO DEVELOP SEAPORT PLANNING

Most importantly, seaport development planning must be based on the evaluation of the connectivity of seaports throughout the country, with seaports in other countries, with other transport infrastructure (road, railway, airport and in-land waterway system), with urban areas, economic zones, tourism zones, industrial zones and logistics centre.