Firms in business

Corporate income tax will be completely exempted in the first four years and cut by half for the next nine years for emerging tech and science firms in Vietnam, as per a Ministry of Finance circular effective in March. … [Read more...] about Science, tech firms in Vietnam to enjoy 13 years of tax deduction

Hanoi (VNA) – As many as 2,390 newly-established firms and 771 subordinate units with a total registered capital of over 24.12 trillion VND (1.04 billion USD) were set up in northern Bac Ninh province last year, up 2 percent in  number and 8.6 percent in capital.  … [Read more...] about Bac Ninh sees rise in number of newly-established firms

The world has been in an abnormal situation since the US-China trade war broke out, the UK decided to leave the EU, the US abandoned TPP, and the Covid-19 pandemic appeared, The ‘if’ did not happen. The indicators used to measure Vietnam’s economy were seriously hit by the Covid-19 pandemic. The GDP growth rate in 2020 decreased by half compared with the year before, while the state budget collections were lower than planned. … [Read more...] about Vietnam shows its ‘firm stuff’ after five years of difficulties

Market developments ranks fourth in both the China (29%) and Global (19%) rankings reflecting the risk of rising insolvency rates following the pandemic worldwide. According to Euler Hermes, a trade credit insurance subsidiary of the Allianz Group, there are two clusters of countries, those that will see a stronger rise in insolvencies in 2020, and those that will see a delayed surge in 2021. The bulk of insolvencies will come in 2021 as Euler Hermes' global insolvency index is expected to hit a record high for bankruptcies, up 35% by the end of 2021, with top increases expected in the US, (up 57% by 2021, compared to 2019), Brazil (up 45%), China (up 40%) and core European countries such as the UK (up 43%), Spain (up 41%), Italy (up 27%), Belgium (up 26%) and France (up 25%). … [Read more...] about Allianz Risk Barometer 2021: Pandemic outbreak overtakes Business Interruption as top business risk in China

Vietnamese enterprises must be well prepared for legal issues if they seek to export to the US market, a seminar heard in HCM City last week. Tran Phu Lu, deputy director of the Investment and Trade Promotion Centre of HCM City (ITPC), said the US is Viet Nam’s largest export market and major items include seafood, textiles, footwear, and farm produce. … [Read more...] about Vietnamese firms told to be ready for legal challenges when exporting to US