Hanoi Times – Analysts have warned that the real estate prices may escalate if the Government applies the progressive tax scheme, which aims to reduce land speculation. The Government has asked the Ministry of Construction to design the progressive tax scheme in an attempt to force the real estate price down. Under the scheme, higher taxes will be imposed on those who own property and/or houses they leave idle in order to stop land speculation. However, analysts said that the progressive tax scheme may not bring the desired effects, and vice versa, this will make the real estate price higher. Lam Van Chuc, Chairman of Phuc Duc Real Estate Investment Joint Stock Company: I personally think that the progressive tax scheme should only be applied for individual investors, not for real estate firms, because the firms have to pay other kinds of tax already, including the land assignment tax, VAT and corporate income tax. It is the wrong idea that the progressive taxation … [Read more...] about Progressive tax scheme may lead to higher real estate prices
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VN takes the lead in narrowing gender gap, Minister says
. Ngân made the statement at a seminar on elevating Vietnamese women's role in development and international integration, held on December 4 in the coastal city of Nha Trang, Khánh Hòa. Việt Nam's gender development index (GDI) rose to 0.732 percentage point in 2009 from 0.537 in 1995. Women account for 26% of the NA deputies, and with this figure, Việt Nam ranks the 1st and 4th in Southeast Asia and the Asia-Pacific region respectively. According to the draft national strategy on gender equality for the 2011-2020 period, Việt Nam will continue to strive for women's higher position in the society. UNDP country director Setsuko Yamazaki said that Vietnamese women should build stronger political awareness and will themselves to take over the leadership and training courses should be developed to enhance women's capacity. Meanwhile, Mr. Cao Trần Quốc Hải from the Ministry of Foreign Affairs urged the Government to complete the legal system and related policies and establish competent … [Read more...] about VN takes the lead in narrowing gender gap, Minister says
Vietnam authorities call 3G fee hike legal
The Vietnam Competition Authority (VCA) rejected accusations on Monday that a recent hike in 3G tariffs by Vietnam's three largest local telcos was illegal, but experts said the agency failed to perform inspections properly. According to the agency at the Ministry of Industry and Trade, the price adjustments by Viettel, MobiFone, and Vinaphone were "reasonable" and did not violate the Law on Competition as accused, Tuoi Tre (Youth) newspaper reported. On October 16, the 3G suppliers that hold 97.3 percent of the market share increased their tariffs from VND50,000 to VND70,000 a month, under Ministry of Information and Communication approval. The hikes, which increased some of the companies' service packages by 20, 40, and even 330 percent, have since provoked widespread criticism. Local experts and the public accused the companies of violating the competition law by increasing their fees at the same time. They also said that the law does not allow dominant companies to raise their … [Read more...] about Vietnam authorities call 3G fee hike legal
South Korea leads foreign direct investments in Vietnam
South Korean foreign directiInvestment (FDI) in Vietnam surpassed US$1.12 billion and topped FDI inflows into the country during the first quarter of 2014, according to Vietnam Foreign Investment Agency. A recent report from the agency shows that 36 countries and territories invested in Vietnam during the January-April period. South Korea was the largest investor in Vietnam during the four month period, with $1.12 poured into projects in the country, equaling 23.1 percent of Vietnam’s total FDIs. Japan, the largest investor in Vietnam during the previous period, fell to second place with total investments of $531 million. Singapore was the third largest investor with more than $479 million. According to the Vietnam Foreign Investment Agency, major FDI projects over the past four months included the Thang Long Cement Plant in Quang Ninh, built with a $325 million from Indonesia and the Ilshin Factory in Tay Ninh, built with $177 million from South Korea. Foreign investors also … [Read more...] about South Korea leads foreign direct investments in Vietnam
Industry 4.0 brings e-payment options to VN
The trend of non-cash payments and digitalisation in personal banking and the explosion of fintech firms in Việt Nam have placed banks ahead of many opportunities and challenges in fourth industrial revolution. Speaking to the media, Dr. Cấn Văn Lực, a financial expert, said that in the long term, co-operation between fintech companies and the commercial banking system needs to be tightened, VietnamPlus reports. Could you explain the challenges and opportunities facing the banking system with the application of digital technology? The fourth industrial revolution poses many opportunities and challenges for the Vietnamese banking system. Regarding opportunities, we can see that it will reduce costs and increase competitiveness by developing new markets, changing distribution channels to provide higher quality products and services and also create new business opportunities, especially co-operation opportunities for both domestic and foreign partners. Mobile … [Read more...] about Industry 4.0 brings e-payment options to VN