What business are tax exempt

Shipping upgrades targeted for 2030-illustration photo, freepik.com The Vietnam Maritime Administration (VMA) has asked the Ministry of Transport (MoT) to implement procedures to approve the development of Vietnam’s international shipping fleet over the next few years. Currently, Vietnamese ships transport freight within the country’s waters only, without a strong capacity for international routes. The VMA has proposed policies to develop Vietnam’s international shipping fleet and increase its market share in the next five years, involving combined incentives related to VAT, import tax, personal income tax (PIT), and concessional loans. To reduce the financial burden for shipping owners, it is necessary to remove the application of 10 per cent VAT according to current regulations for imported freight ships until the end of 2026, the VMA suggested in a document sent to the MoT. Its figures show that VAT on imported ships was VND234 billion ($10.1 million) in 2020 and VND109 … [Read more...] about Shipping upgrades targeted for 2030

The Saigon Hi-tech Park in HCM City’s Thu Duc city. HCM City will focus on speeding up investment procedures to attract more investors. (Photo baodautu.vn) HCM City (VNS/VNA) – Ho Chi Minh City will focus on helping businesses invest in the Saigon Hi-tech Park in Thu Duc city by addressing slow administrative procedures, a conference on facilitating investment heard on June 27. Vo Sy Nhan, general director of office space provider Onehub Saigon Bund, said though the park has been making efforts to help, his company’s project there has been slow to make a start. It was approved in 2014, but has been stymied by administrative bottlenecks, he said. For instance, approval for its land planning adjustment has been slow, and since the park itself is also going through a similar process, it could take long, he said. It is also having difficulty extending its land lease contract, which requires the city’s approval, he said. Nhan has asked relevant authorities to quickly … [Read more...] about Saigon Hi-tech Park to speed up investment procedures

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

The Vietnamese Government has issued many mechanisms and policies to attract foreign-invested enterprises, including foreign tech startups. Agritech, Greentech, Deeptech and Foodtech are promising sectors that are expected to boom in the coming years in Vietnam, according to local experts and those from abroad. The Vietnam Government has issued many mechanisms and policies to attract and support foreign startups. Photo: InnoLab Asia Local and foreign enterprises shared their expectations when joining a panel discussion titled “Vietnam market entry: Opportunities and How to collaborate with Vietnamese companies” within an international webinar, which was held by Sunwah Innovations in partnership with Vietnam National Innovation Center (NIC) and InnoLab Asia on June 28. All the panelists at the webinar said they were impressed with the growth of Vietnam's startup ecosystem and its potential for overseas startups and investment funds to tap into. A record high … [Read more...] about Agritech, Greentech, Deeptech and Foodtech – foreign funds interests in Vietnam

Incentives are being offered to allure new businesses into Danang Hi-Tech Park On June 17, Danang Hi-Tech Park and Industrial Zones Management Authority (DHPIZA) approved the planning for the $60 million Micro-Electro-Mechanical Systems (MEMS) factory, to be funded by Vector Fabrication Inc. from the United States. Covering an area of 40,000 square metres, the factory will produce printed circuit boards while simultaneously studying and producing MEMS. Construction is expected to start this year and the factory’s first phase will come into operation in early 2025. DHPIZA director Pham Truong Son said that since borders reopened in March, many foreign-invested enterprises (FIEs) have begun to look for investment opportunities in the city’s hi-tech park and industrial zones (IZs). “Thanks to outstanding advantages, our IZs are considered a trusting destination by investors. Since early this year, Danang has granted investment registration certificates for 10 projects worth over … [Read more...] about Danang high-tech parks achieving wider attention

Saigon Hi-tech Park in HCM City’s Thu Duc City. HCM City will focus on speeding up investment procedures to attract more investors. — Photo baodautu.vn HCM City will focus on helping businesses invest in the Saigon Hi-tech Park in Thu Duc City by addressing slow administrative procedures, a conference on facilitating investment heard on June 27. Vo Sy Nhan, general director of office space provider Onehub Saigon Bund, said though the park has been making efforts to help, his company’s project there has been slow to make a start. It was approved in 2014, but has been stymied by administrative bottlenecks, he said. For instance, approval for its land planning adjustment has been slow, and since the park itself is also going through a similar process, it could take long, he said. It is also having difficulty extending its land lease contract, which requires the city’s approval, he said. Nhan has asked relevant authorities to quickly approve both so that work on the project … [Read more...] about HCM City hi-tech park to speed up investment procedures