The management authority of Quang Trung Software City (QTSC) is seeking approval from the HCMC government to adjust land policy applicable to the area to help tenants there deal with financial constraints. Chu Tien Dung, chairman of Quang Trung Software City Development Company, said tenants of the park are having difficulties with land procedures given the current unclear policy on land rental. For... 

The draft of the amended Land Law highlights the State’s active role in land withdrawal for project development, but the role of investors should not be ignored, heard a seminar on the draft in HCMC on Wednesday. The seminar was held by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the Ministry of Natural Resources and Environment and the Economic Committee of the National... 

Reasoning economic difficulty, the National Assembly on March 18 agreed not to reduce the number of groups of goods that are entitled to the value added tax rate (VAT) of 0% and 5%. In the morning session, the National Assembly Standing Committee made comments on draft amendments to the Law on Value Added Tax (VAT), including tax rates. Currently VAT in Vietnam is set at three levels: 0%, 5% (with... 

The Government will offer Samsung Electronics Vietnam (SEV) favorable conditions for further development, including support in human resource training and establishment of a research and development center. In Notice 102 of the Government Office signed this Monday, Deputy Prime Minister Nguyen Thien Nhan said SEV had closely cooperated with education facilities in Vietnam in human resource training. Such... 

Under the draft of the new Ordinance on Foreign Exchange, individual residents can borrow money from foreign sources, pay debts and must be responsible for the borrowing in accordance with the regulations to be drawn up by the government. If the draft ordinance is approved, Vietnamese individuals would be able to take initiative in borrowing foreign currencies from foreign sources for their personal... 

The Ministry of Industry and Trade might not issue investment licenses to new construction steel projects as local steel demand has been way below the country’s supply. According to the Vietnam Steel Association (VSA), the local construction steel industry turns out about 11 million tons annually while the country only consumes 5.5 million tons a year. Speaking at a meeting on Monday, Nguyen Manh... 

The State Bank of Vietnam (SBV) on Monday expressed a strong confidence in narrowing down the gap between local and international gold prices thanks to bold measures of managing agencies. The central bank will implement measures to realize resolutions of the National Assembly and the Government to gradually match domestic gold prices to the world price. Given current laws on gold trading and managing... 

HCMC – Property project owners have shown interest in apartments for sale in the form of fixed-term ownership, but there is currently no legal framework for this type of housing ownership. Apart from turning their projects into low-cost ones and dividing their flats into smaller units, project owners are considering leasing or selling their products to customers who want to own a home for a certain... 

Given the absence of specific guidelines from ministries and agencies, the Government’s solutions provided in resolutions 1 and 2 to support troubled businesses, tackle mounting bad debt and subsidize interest rates for certain homebuyers have yet to materialize as planned. Minister of Planning and Investment Bui Quang Vinh told representatives of ministries and agencies on Tuesday that there are... 

Vietnam scores only 19 points on a 100 point scale in the 2012 Open Budget Index (OBI 2012), much lower than many other nations in the region, showing a lack of transparency in the country’s budget system. According to the OBI 2012 survey conducted among 100 nations worldwide published on Thursday, Vietnam is one of the 36 countries with the lowest rankings. The country is still far behind Indonesia...