Foreign invested enterprise vietnam

Meeting with CEO of Warburg Pincus Charles Kaye, Prime Minister Pham applauded the effective operation and contribution of the fund in the fight against COVID-19 in Viet Nam. Viet Nam became the third investment destination of Warburg Pincus after China and India. Since 2013, Warburg Pincus has poured nearly US$ 2 billion in leading Vietnamese groups and companies, namely Vingroup, VinaCapital, Techcombank, Becamex, and MoMo. Prime Minister Pham Minh Chinh shakes hands with CEO of Warburg Pincus Charles Kaye, New York, May 15, 2022 - Photo: VGP The Prime Minister said that the Vietnamese Government stands ready to hold dialogue with enterprises so as to help them operate successfully in the country, which shows the mutual trust, sincerity, sense of responsibility, and win-win cooperation. He asked American enterprises, including Warburg Pincus, to fully implement their commitments and directly liaise with relevant ministries and sectors of Viet Nam to expand … [Read more...] about PM urges big funds to expand investment in Vietnam

Three parties signed a strategic cooperation agreement On May 13, C.P. Vietnam announced at its head office in Bien Hoa that it has kick-started its digital transformation journey with SAP SuccessFactors solutions. The move will help the company enhance its HR capabilities and leverage real-time analytics for better business decisions and capabilities. C.P. Vietnam expects not only to reduce costs and drive greater operational efficiency but also to deliver an enhanced employee experience consistent with its mobile-first, cloud-first philosophy that attracts and retains talent, fosters employee engagement, and drives improved business outcomes. The company is a foreign direct investment enterprise that operates in the closed agro and food industry. Established in 1993, it has steadily grown to become Vietnam’s leading food conglomerate, covering both livestock and aquaculture businesses. The company’s food products not only meet the needs of the domestic market but are also … [Read more...] about C.P. Vietnam’s digital transformation with
 SAP SuccessFactors

Last year, around 140 countries and territories agreed in principle to set up a minimum corporate tax rate-illustration photo, Source:Freepik.com At a conference on May 10, the Vietnam Association of Foreign-Invested Enterprises (VAFIE) released its first annual report on foreign direct investment (FDI) in the country. One of the discussion points at the event was the topic of a global minimum corporate tax and its potential impact on Vietnam’s FDI prospects. Last year a landmark agreement was reached on a minimum global corporate tax rate of 15 per cent. However, the proposal is still in its early stages and getting the majority of nations to come to implemented it may take plenty more time. “Large corporations often choose to pour money into nations with good tax regimes and more incentives. If the global minimum tax of 15 per cent is applied, it will certainly have a big impact on businesses in Vietnam,” said Hong Sun, vice chairman of the Korea Chamber of Business in … [Read more...] about Nation urged to prepare for tax overhaul

The stock market plummeted last week causing headaches to investors. (Photo: SGGP) Stock market wobbles Many investors have expected to hunt good stocks in May because many stocks have plummeted to attractive price ranges from the decline that lasted for the last four weeks. Not only speculative stocks but mid-cap and large-cap ones were also sold off. Neither new investors nor professional investors dare to see their accounts being eroded day by day. Many investors sold to cut losses, and the total accounts lost by 30-50 percent within two weeks. Not only individual investors but large investment funds also recorded heavy losses in the first four months of the year. Specifically, one of the oldest and largest ETFs in Vietnam, Vaneck Vectors Vietnam ETF (VNM ETF), with a portfolio of US$546 million, saw a decrease in portfolio performance of 23.92 percent from the beginning of 2022. Vietnam Equity Fund (VEF) also recorded a negative portfolio performance of nearly 10 percent in … [Read more...] about Vietnam’s stock market has potential in long term

This information was reported by the Department of Industry under the Ministry of Industry and Trade. In detail, electronic firms in Vietnam, including domestic and foreign-invested firms, now have been able to manufacture almost all electronic products, such as air conditioners, televisions, washing machines, telephones, printers, so on. Local electronic products have been diverse in types, colors, and appearance, and displayed good quality, meeting most of the local people’s demands. Notably, some of these products have been exported to many countries in the world. According to the Ministry of Industry and Trade, Vietnam is the 12th largest electronic exporter worldwide and the third in the ASEAN in 2020. However, 95 percent of the turnover of electronic products is in the hands of foreign-invested enterprises. Therefore, domestic enterprises should make greater breakthroughs in the sector’s development. Translated by Quynh Oanh … [Read more...] about Vietnam listed among top 12 largest electronic exporters in the world

AEON Mall – an enterprise specialising in large shopping and retail centres – is operating six projects in Vietnam, including two commercial centres in Hanoi's Long Bien and Ha Dong districts In a recent meeting with Secretary of Hanoi Party Committee Dinh Tien Dung, Tetsuyuki said that by 2025, AEON Mall has a policy of implementing 16 more projects in Vietnam, including up to four projects in Hanoi. According to the general director of AEON Mall Vietnam, its Hoang Mai project is in the final stages of investment preparation. He said the group has fully prepared in terms of funding, human resources, and equipment so that construction can begin immediately after completing the investment procedures. He hopes that Hanoi will continue to support the venture and remove obstacles so that this project can start construction in the third quarter of this year. At the same time, the Japanese businesses also asked the city to support the research and implementation of the AEON Mall … [Read more...] about AEON Mall to invest in more projects in Hanoi

Investment in internal resources to accelerate Despite the industry’s long stagnation and disrupted supply chain, ITL keeps investing in new assets and upgrading its transportation fleet with 60 prime movers imported from UD Trucks, a Japanese truck company incorporated by Volvo and Nissan. This showed a sustainable development strategy, unaffected by external forces, and the solid financial potential of the leading logistics group in Vietnam. Huynh Minh Sang, branch manager of the Road Transport Centre and representative of ITL , gave his remarks at the handover ceremony for the prime movers “Investing in freight vehicles will help ITL strengthen its transportation capacity in the forthcoming time to approach large-scale projects and customers, including new foreign-invested enterprises with enormous potential,” said Huynh Minh Sang, branch manager at the Road Transport Centre and representative of ITL at the handover ceremony. After receiving these 60 new … [Read more...] about ITL accelerates investment post-pandemic

Prime Minister Phạm Minh Chính (right) and New York Stock Exchange (NYSE) President Lynn Martin hold talks with CEOs of major firms listed on the NYSE on May 16. — VNA/VNS Photo Dương Giang NEW YORK — Prime Minister Phạm Minh Chính had a roundtable with CEOs from world-leading firms and investment funds listed on the New York Stock Exchange (NYSE) during a visit there on May 16. In the opening address, PM Chính said global instabilities had impacted both Việt Nam and the US, requiring the companies to help address the challenges. Việt Nam in recent times had strived to keep macroeconomic conditions under control, including exchange rates, inflation and interest rates, as well as budget revenues and expenditure balances, food security, imports and exports. Việt Nam is currently in serious need of developing a healthy, sustainable securities and bonds market, according to the Prime Minister. The PM also informed the company executives of the implementation of the recovery … [Read more...] about PM underlines commitments to facilitate foreign businesses in roundtable with NYSE-listed firms

Bui Ngoc Tuan-Partner, Deloitte Vietnam The aim is to prevent tax base erosion and profit shifting, limit the race to the bottom on tax rates, and create a fair competitive environment in attracting investment among countries. It is hoped Pillar 2 would take effect from 2023. The regime would be applied to multinational corporations (MNCs) with a global consolidated turnover exceeding $778.5 million. Therefore, there would be a number of large MNCs in Vietnam in the scope of Pillar 2. When applying Pillar 2, if the effective tax rate of the subsidiaries of those MNCs in Vietnam is less than the GMT rate of 15 per cent, they would incur additional tax liabilities in the country of their headquarters, equal to the difference between the 15 per cent rate and the effective tax rate in Vietnam. Although the standard tax rate in Vietnam is 20 per cent, currently many foreign-invested enterprises (FIEs) that are subsidiaries of MNCs have projects eligible for investment incentives … [Read more...] about Assessing impact of global corporate tax rate on multinational companies

Chinh welcomed the U.S.’s support for a strong, independent and prosperous Vietnam, saying Vietnam is pursuing a foreign policy of independence, self-reliance, multilateralisation, and diversification of international relations. Vietnam considers the U.S. one of its top partners, the PM said, adding that Vietnam wants to together with the U.S. deepen the bilateral comprehensive partnership and make it more practical and stable in the long term, on the basis of respecting each other’s independence, sovereignty, territorial integrity and political system, contributing to the global and regional peace, stability, cooperation and development. He went on to say that Vietnam’s economy is growing well as it has entered the post-pandemic “new normal” phase thanks to the international donation of COVID-19 vaccines, a large volume of which came from the U.S. via the COVAX Facility. He expected enterprises of both sides will further enhance cooperation based on the harmony of interests and … [Read more...] about Vietnam sees economic ties with U.S. as driver for stronger partnership: Prime Minister