Ministry wants rethink of high tax on second home
HCMC – The Ministry of Planning and Investment has proposed the Government turn down the HCMC government’s proposal to impose a higher property tax on people who own a second home. It reasoned that the proposal still had inadequacies as owners of several small houses or plots of land would have to
China becomes largest buyer of Vietnamese agro-forestry-fishery products
HCMC – China has overtaken the U.S. as the largest buyer of Vietnamese agro-forestry-fishery products, with its imports amounting to US$1.27 billion in the year’s first two months. According to the Ministry of Agriculture and Rural Development, Vietnam’s total exports of agro-forestry-fishery
SBV sets new credit growth limits for banks
HCMC – Eight commercial banks have received new credit growth quotas for this year, with seven of them entitled to lend less than last year. The credit growth limit of HDBank is 11%, MB Bank 9%, ACB 9.8%, VIB 9.5%, TP Bank 9.1%, VPBank 9%, BIDV 8.3% and MSB 13.5%. These rates are lower than the […]
Vietnam Airlines, Air France to resume codeshare flights
HCMC – Vietnam Airlines will cooperate with Air France to resume codeshare flights between Vietnam and France from March 26. A joint venture agreement between the two carriers was implemented in 2017. However, their flights were suspended due to the impact of the Covid-19 pandemic. The cooperation
Overwhelmed Yen Bai-Lao Cai expy needs expansion
HCMC – The Yen Bai-Lao Cai road section, part of the Noi Bai-Lao Cai expressway in northern Vietnam, needs expanding to cope with a rising traffic volume that poses a risk of traffic congestion and accidents, according to the Ministry of Transport. The ministry has written to the People’s
New foreign investment approvals soar in HCMC in Jan-Feb
HCMC – Fresh foreign direct investment approvals in HCMC in the first two months of 2023 totaled US$332.3 million, up 43.1% year-on-year, showed data from the HCMC Statistics Office. During the two-month period, 101 projects were approved from the city, with total registered capital of US$97.7
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Vo Van Thuong elected State President of Vietnam
HCMC – The National Assembly (NA) elected Permanent Member of the Party Central Committee’s Secretariat Vo Van Thuong as State President of Vietnam at an extraordinary session in Hanoi today, March 2. Some 98.38% of all NA deputies voted for Thuong, 53, to serve as Vietnam’s new head of state in
Agri-product shipments through Lao Cai border gate turn tough
HCMC – The volume of agricultural products exported to China through the Lao Cai border gate stood at only 50% of pre-pandemic levels due to slow customs clearance. The Chinese authority still imposes special requirements for goods transfers across the border, which slows down the speed of goods
Further extension proposed for 2023 tax payments
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed the six-month extension beyond the end of this year for settling all tax liabilities in 2023. The VCCI made the above proposal in its feedback to the Ministry of Finance, contributing to the finalization of a draft decree on
Manufacturing business conditions improve in February
HCMC – The Vietnamese manufacturing sector has seen a pickup in new orders, leading to higher output, employment and purchasing activity. The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) was 51.2 in February, ending a string of contractions and up 3.8 points from 47.4 in
National Assembly set to elect new State President tomorrow
HCMC – The National Assembly (NA) will hold an extraordinary session tomorrow, March 2, to elect a new State President. The post of State President has been left vacant since the National Assembly relieved Nguyen Xuan Phuc from the post. Tonight the NA Office issued a press release announcing the
