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Vietnam Business Registration To Be Streamlined

Business registration red tape is to be a thing of the past. Service should be improved and fees will increase under a new system for handling business registrations The process of business registration, previously regarded as simply a state management function, will be regarded as a service starting from December 10, 2012, under the Ministry of Finance (MoF) newly enacted Circular 176/2012/TT-BTC. Organizations and individuals register businesses shall have to pay increased charges set at a level sufficient to cover expenses instead of the current nominal fee level. Under current regulations at Circular 197/2006/TT-BTC, organizations and individuals in need of...

Vietnam Food Exporters Must Have Contact In U.S.

Besides the required registration with the U.S. Food and Drug Administration (FDA) again, local foodstuff exporters targeting the U.S. market are also required to maintain contact stateside on a 24/7 basis Besides the required registration with the U.S. Food and Drug Administration (FDA) again, local foodstuff exporters targeting the U.S. market are also required to maintain contact stateside on a 24/7 basis to be allowed to export products to the foreign nation from early next year, an official said. Do Tuan Phong, director of the Vietnam Trade Office branch in Houston, told the Daily the aforesaid information on...

New law cannot reduce Hanoi’s rural-urban migration

The Capital Bill, which seeks to impose greater restrictions on the migration of rural people to Hanoi, is not likely to staunch the inflow and is likely to cause more difficulties for migrants, Nguyen Quang, manager of the United Nations Human Settlements Program (UN-HABITAT) in Vietnam, tells Vietweek.Vietweek: What is your opinion about the draft […]

Vietnam Tra Fish Firms Must Follow Hygiene Rules

HA NOI (VNS)— Tra fish business should have to meet stricter hygiene and registration conditions to guarantee quality and improve management of the sector, says the Ministry of Agriculture and Rural Development. Under a draft decree presented to the Government, producers and companies who farm, process or export tra fish would only receive business licenses if they obey food safety and hygiene requirements, clearly define food origins and protect the environment. Deputy Minister Vu Van Tam said that under the decree, producers would have their business licenses revoked if they failed...

40,190 Vietnam Firms Dissolve or Suspend Operation as of Sept 20

Vietnam recorded 40,190 enterprises that have dissolved or suspended their operation year to Sept 20, 2012, up 6.5% on year, the local newswire TTVN.vn reported. Of the total, 6,503 businesses have dissolved and 33,597 firms were reported to stop activities. Companies that have dissolved or stopped operation mainly located in major cities like Ho Chi Minh City (13,014 firms), Hanoi (9,252 firms), Haiphong (1,010 firms) and Danang (960 firms). Of the total, 247 firms in financial, banking and insurance sector went bankrupt or stopped activities, up 61.4% on year; 1,027 firms in agriculture, forestry, fishery industry, up 24%; 2,063 businesses in catering accommodation service sector, up 26.7%...

Vietnam Securities Companies’ Major Surgery Enters Most Important Phase

The watchdog agency has shown its determination to reshuffle securities companies by setting up a lot of new strict regulations on the companies’ operation.... The new Circular No. 165 stipulating the financial adequacy norms, which will take place from December 1, 2012, is believed to help the process of restructuring securities companies go more effectively. A lot of securities companies would have to shut down by the first quarter of 2013 because they cannot satisfy the new requirements. The watchdog agency now can update the information about the “health” of securities companies by considering not only quarterly, biannual and yearly finance reports, but also...

New Decree Looks To Protect Whistleblowers In Vietnam

The Government issued Decree No 76/2012/ND-CP on October 3, detailing a number of articles of Law on Complaints and Denunciations. The decree applies to Vietnamese citizens and foreign individuals in Viet Nam; agencies, organizations and individuals the acts of which are denounced; agencies, organizations and individuals that have jurisdiction over denunciations; and agencies, organizations and […]

Vietnam Project’S Bad Fashion Statement

The runaway foreign investors of Lifepro Vietnam’s Luxfashion textile and garment complex, leaving $150 million in debts behind, have underscored the ugly side of foreign-invested projects that go wrong. The $300 million European clothing complex, located in northern Ninh Binh province’s Gian Khau Industrial Park, has been totally locked down since early September, just six months after official becoming operational. In late August, the local authorities were reported by a Vietnamese representative of Lifepro Vietnam that all foreign managerial staff of Luxfashion complex...

Vietnam’s Central Region Workers Face Binh Duong Boycott

Since 2006, a number of businesses in the southern province of Binh Duong has turned down to workers from the central provinces of Thanh Hoa, Nghe An and Ha Tinh...

Vietnamese investment, enterprise laws need changing to attract more business

Investment, enterprise laws need changing to attract more business HCM CITY (VNS)— "Changes are needed to the Investment and Enterprise laws to eliminate barriers that have prevented businesses from investing in Vietnam," participants at a roundtable discussion said at a conference held on Wednesday in HCM City. In the one-day conference, more than 100 representatives from companies, law firms and foreign organizations discussed their proposals for the revised laws. The conference was organized by the Ministry of Planning and Investment, the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Investment Forum. Participants said that...