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Phu Quoc Island Determined to Become Special Economic-Administrative Zone

Kien Giang has proposed recommendations to the Government on the application of mechanisms and policies with a view to turning Phu Quoc Island into a centrally-run, special economic-administrative zone by 2020. The province has submitted its proposal to the Prime Minister to request the Politburo to issue a resolution on the development of Phu Quoc Island as to 2020. For sectoral development planning, focus will be laid on review and amendment of the planning to make it responsive to the master planning approved by the Prime Minister. Also, the province will be entitled to flexible mechanism, which allows adjustment of...

In Vietnam, a Push for Restrictions on Foreign Firms

Vietnam’s top law firms are asking their government to impose greater restrictions on the practices of their foreign counterparts. The country is currently one of the most open markets in Asia for foreign firms. They are free to hire Vietnamese lawyers, who have been permitted to advise on local law short of appearing in court […]

China prohibits fresh shrimp imports from Vietnam

VietNamNet Bridge – Vietnamese officials have been astonished with the information that China has prohibited to import fresh shrimp from Vietnam. The Ministry of Agriculture and Rural Development (MARD) has requested its belonging agencies to clarify why China has released the decision to prohibit importing fresh shrimp from Vietnam. No state management agency had been informed about the news until a seafood company sent a dispatch to the Ministry of Industry and Trade (MOIT), informing that it could not export shrimp to China. An official of MOIT said the information came from Tuong Huu Company headquartered in Tan Phu district...

Vietnam Real Estate Developers May Be Asked To Stop Projects To Reduce Supply

The Ministry of Construction has proposed the government to take necessary measures to restrict the supply in order to help warm up the real estate market. Believing that the oversupply is the main reason that has frozen the real estate market, the ministry believes that the current situation would be improved only if the government […]

Move to scrap grace period on import taxes draws fire in Vietnam

HA NOI (VNS)— Exporters have slammed the proposal to remove the 275-day grace period on tax payments for imported raw material for local production. They believe it will lead to more difficulties in their export and production plans. The Ministry of Finance, the drafter of the Law on Tax Management, proposed to remove the grace period to limit tax fraud and evasion. The ministry planned to amend Article No 42 so the law would require taxes to be paid before customs clearance. The amended regulation would apply to businesses that outsourced...

Vietnam NA wants gold market stability

HANOI – Shortcomings in management and stabilization of the gold market should be remedied next year so that local and global gold prices can match and legitimate interests of citizens can be protected, says a resolution passed by the National Assembly (NA). The NA on Thursday gave the nod to the resolution on a socio-economic […]

Vietnamese and Russian enterprises seek for investment opportunities

“Doubling current export turnover, from the current US $3.5 billion, for the next three years, between Vietnam and Russia is a great challenge for the two sides. However, I believe that this target is feasible”, said Russian Deputy Prime Minister Arkadiy V.Dvorkovich, at a roundtable meeting between Vietnamese and Russian enterprises, held on November 7 th

Vietnamese Firms to link up with russia

HA NOI (VNS)— Vietnamese and Russian enterprises have been urged to accelerate co-operation in promising sectors such as oil and gas, nuclear, light industries, machinery engineering and agriculture. Russian Deputy Prime Minister Arkady Dvorkovich delivered the message yesterday during a roundtable discussion between businesses from the two countries in Ha Noi. "The Russian Government is willing to offer incentives and encouragement for Vietnamese companies to develop their projects in Russia," the Deputy PM said. The bilateral trade and investment relations between the two countries still lagged behind potential, with two-way trade...

Rice, seafood exports not benefiting Vietnamese farmers

Rice and seafood are the two main exports of Vietnam, raking billions of US dollars a year; however, rice farmers and seafood breeders remain at a disadvantage with unstable incomes caused by fluctuating prices. At the end of October, Vietnam was ranked the biggest rice exporter in the world. According to Vietnam Food Association, in the last ten months, rice exports of 6,484 million tons yielded US$2.9 billion in revenues. From now until the end of December, another 1.1 million tons will be ready for export. As a...

E-book market still in infancy in Vietnam

The e-book market in Vietnam is still in its infancy and is growing far too slowly than e-book producers had expected, as Vietnamese readers have yet to acquire the habit of paying online for book content, seemingly a new and unfamiliar process for them...