State business income tax

Representatives of enterprises in EPZs-IPs participate in the conference. (Photo: SGGP) The Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) cooperated with the State Bank of Vietnam – HCMC Branch and some commercial banks to organize the conference to connect banks and enterprises with the theme "Accompanying enterprises - Effective financial solutions to support enterprises in EPZs-IPs in HCMC in 2022”. The conference aims to find solutions to support enterprises in EPZs and IPs to easily access financial sources with appropriate interest rates and loan terms to develop production and business activities. This activity has helped banks to better grasp the characteristics of enterprises in the field of industrial production, thereby studying shortening and simplifying the loan processes and procedures, actively approaching small and medium-sized enterprises to disburse loans according to the Government's preferential policies, especially industrial … [Read more...] about Enterprises in EPZs, IPs supported to access suitable credit sources

The daily reference exchange rate for the US dollar is set at 23,110 VND/USD on June 30. (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,110 VND/USD on June 30, up 11 VND from the previous day. With the current trading band of  +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,803 VND/USD and the floor rate 22,416 VND/USD. The opening-hour rates at some commercial banks saw increases. At 8:35am, Vietcombank listed the rates at 23,095 VND/USD (buying) and 23,405 VND/USD (selling), both up 5 VND from June 29. Meanwhile, BIDV raised both rates by 10 VND from the end of the previous session, listing the buying rate at 23,130 VND/USD and the selling rate at 23,410 VND/USD./. VNA … [Read more...] about Reference exchange rate up 11 VND on June 30

The Renewable Energy in Sustainable Industrial Parks conference was organised by the Haiphong Economic Zone Management Board in collaboration with the Embassy of the UK, the nation's Chamber of Commerce and Industry, and Star Do Group. Head of the Haiphong Economic Zone Management Board Le Trung Kien asserted the green development demand of Haiphong city and its industrial parks and economic zones. Photo: Thanh Son Attendees at the conference were Harry Rawicz-Szczerbo, head of the Trade and Investment Department at the UK Embassy; Le Trung Kien, member of the city Party Committee's Standing Board and head of the Haiphong Economic Zone Authority; Mark Shorrock, chairman of Shire Oak International; Nguyen Thanh Phuong, CEO of Sao Do Group; and representatives of Haiphong's departments and agencies, investors, and businesses. Mark Shorrock, chairman of Shire Oak International, talked about the renewable energy demand of businesses in the RE100 group. Photo: Thu … [Read more...] about Haiphong promotes renewable energy investment in industrial parks

Real estate prices in Ho Chi Minh City skyrocketed during the second quarter of this year to hit record highs, with some villas in the city currently on sale for VND700 billion (US$30 million), according to statements given at a conference on Tuesday. At the 'Money Flow and Real Estate Trends in Late 2022' conference hosted by Cafeland , a real estate website, Vo Huynh Tuan Kiet, director of housing project marketing at CBRE Vietnam, shared that houses and villas in urban areas in the east of the city are currently on the market for prices ranging from VND200 million ($8,580) to $400 million ($17,200) per square meter. Regarding housing supply, Kiet said that the number of available apartments in Ho Chi Minh City soared to 12,000, up from about 1,000 in the first quarter of this year. The supply in the second quarter is nearly equal to that in the third quarter of 2019, a sign that the market is making a serious comeback. These apartments, however, are primarily high-end and … [Read more...] about Housing prices in Ho Chi Minh City hit record highs

The system is making steady progress towards transiting to launch by around Pi2 Day - June 28, the development team announced on the Pi Network app last Tuesday. Since Monday night, Pi miners in Vietnam have started to wait for the transition. Many claimed to be business owners and said they will accept the token as a payment method as soon as the coin can be exchanged. Pi and other cryptocurrencies are not legal tender in Vietnam, Dao Minh Tu, the deputy governor of the State Bank of Vietnam, has said. Huynh Tan of HCMC said he has signed in the app to earn rewards every day for the last three years. "I have joined the project since its beta stage. Now it is about to enter the mainnet stage, so I hope to be able to exchange Pi for money or something." He said prices of thousands dollars is "very unlikely" as there are 100 billion tokens, but the ‘consensus price’ may be of any number. A poll on a Pi group found 75 percent of nearly 3,400 users believing in a ‘consensus … [Read more...] about Pi miners anxiously await monetization

An overview of the forum (Photo: VNA) Hanoi (VNA) – National Assembly Chairman Vuong Dinh Hue attended the Vietnam-UK high-level forum on economy and trade in London on June 29 (local time), as part of the leader’s ongoing visit to the UK. Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, UK Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-UK Strategic Partnership , as well as great chances for both sides to bolster their ties from the UK-Vietnam Free Trade Agreement ( UKVFTA ). He underlined that both sides should optimise advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favourable … [Read more...] about NA Chairman attends Vietnam-UK high-level forum on economy, trade

Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, U.K. Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-U.K. Strategic Partnership, as well as great chances for both sides to bolster their ties from the U.K.-Vietnam Free Trade Agreement (UKVFTA). He underlined that both sides should optimize advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favorable conditions for enterprises of both sides to explore each other’s market and foster connection, thus striving for a trade value of over USD 10 billion by 2023. Thanh affirmed Vietnam's high political determination in realizing commitments made at the … [Read more...] about N.A. Chairman attends Vietnam-U.K. high-level forum on economy, trade

NA Chairman Vuong Dinh Hue witnesses the exchange of co-operation agreements between businesses and localities of Viet Nam and the UK. — VNA/VNS Photo Doan Tan National Assembly Chairman Vuong Dinh Hue attended a Viet Nam-UK high-level forum on economy and trade in London on June 29 (local time), as part of his ongoing visit to the UK. With the aim of stronger economic, trade and investment partnerships between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, British Secretary of State for International Trade Anne Marie Trevelyan, Member of Parliament Graham Stuart (the Prime Minister's Trade Envoy to Vietnam), and a large number of Vietnamese and British businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Viet Nam-UK Strategic Partnership, as well as great chances for both sides to bolster their ties through the UK-Vietnam Free Trade Agreement (UKVFTA). He underlined that both sides should optimise the … [Read more...] about NA Chairman attends Viet Nam-UK forum in London

UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities. Vietnam and the UK should set a trade turnover target of over US$10 billion by 2023, which would be a meaningful step to mark the 50 th anniversary of Vietnam-UK diplomatic relations next year. Chairman of the National Assembly Vuong Dinh Hue (mid) at the forum. Source: VNA Deputy Prime Minister Le Van Thanh gave the remarks at the Vietnam-UK High-level Forum on Economy and Trade held on June 29. The event is one of the highlights of a visit to the UK by the high-ranking delegation from the National Assembly of Vietnam led by Chairman Vuong Dinh Hue from June 28-30. According to Thanh, the Vietnam-UK strategic partnership has progressed strongly over the years and contributed to socio-economic development in each country. Thanh expected the partnership would … [Read more...] about Vietnam-UK target US$10-billion trade turnover by 2023

Ilustrative image. (Photo: VNA) Accordingly, a new decree, coded 38/2022/ND-CP, on raising the regional minimum wage for laborers will come into effect on July 1. The 6 percent increase is equivalent to a rise of VND260,000 (US$11.20) in Region 1, and VND240,000, VND210,000, and VND180,000 in Regions 2, 3, and 4, respectively. The document to this effect also specifies that the minimum hourly wage will range from VND15,600 to VND22,500, which also depends on the region. The geographical classification is determined based on the employer’s place of operation. Region 1 covers Hanoi and Ho Chi Minh City's urban areas; Region 2 encompasses Hanoi and HCMC's rural areas, along with major urban areas in the country like Can Tho, Da Nang and Hai Phong; Region 3 covers provincial cities and the districts of Bac Ninh, Bac Giang and Hai Duong provinces; and Region 4 comprises the rest of the country. Meanwhile, per the Minister of Finance’s Circular 78/2021/TT-BTC, dated September 17, … [Read more...] about Policies to take effect in July