Tax bill may stir up foreign opposition

International experts have warned that the personal income tax bill announced by the Ministry of Finance last week may face protests from foreigners.

Cigarette venture goes up in smoke

The government has rejected a proposed joint venture with a British cigarette company on the grounds that it contradicts existing tobacco industry regulations.
moi powers ahead with plan to raise electricity prices

MoI powers ahead with plan to raise electricity prices

The Ministry of Industry (MoI) is pushing ahead for Central Party Committee approval to raise power prices.At a meeting with the committee’s Economic Board on energy prices, held last week in Hanoi, MoI officials said the urgent demands of reinvestment for power projects and debt repayment were the reason for the proposed increase of electricity prices.

JETRO report underlines bright spots

Despite becoming the first choice of Japanese investors considering relocating their investments from China, Vietnam remains fifth in ASEAN to attract re-aligning Japanese investors overall, according to the latest version of a survey released by the Japan External Trade Organisation (JETRO) last week.
insurance game starts heating up

Insurance game starts heating up

The local insurance industry is expected to boom with the entrance of more foreign-invested firms to the local market as Vietnam integrates into the World Trade Organisation, resulting in a tougher competition for domestic firms, Vu Long writes.
mof tax plan takes aim at bigger earner target number of earn

MoF tax plan takes aim at bigger earner target number of earn

The number of income earners hit by personal income tax is set to increase under a Ministry of Finance plan lowering Vietnam’s tax threshold.
petrol price pain

Petrol price pain

The government’s decision to make life easier for petrol importers by increasing oil and gas prices last week has caused suffering to essential transport service firms across Vietnam.
power price rise sparks debate

Power price rise sparks debate

Government officials said last week that proposed increases in electricity prices were reasonable and would not have an adverse effect on the economy.

Door opens to broader foreign bank services

The government has announced that it will allow wholly foreign-owned banks to open their doors and provide greater banking services from the end of this week.
third floor to trade shares

‘Third floor’ to trade shares

Shares of unlisted joint stock firms will be officially transacted via securities companies in a move to diversify the market, officials from the State Securities Commission (SSC) said last week.

Power plan short circuits

The new price of electricity proposed by Electricity of Vietnam (EVN) was rejected last week, meaning the sole enterprise that distributes electricity will have to cope with a greater financial burden for investment.
citigroups fresh thrust into sector

Citigroup’s fresh thrust into sector

Citigroup, one of the world’s largest banking and financial services corporations, was just granted a licence to provide direct custody and clearing services in Vietnam, an expansion move in response to the country’s emerging securities market.
government officials told to take the bus

Government officials’ told to take the bus

Government agencies will be unable to purchase new cars from the middle of the year, in the first steps under the recently passed Anti-waste and Thrift Practice Law.Following decision 25, state agencies, ministries, departments and provinces face a moratorium on new car purchases from June 1 of this year.
duty drop to add glitter to jewellery firms

Duty drop to add glitter to jewellery firms

An import tax reduction on gold, diamonds and gemstones will be taken into consideration in a bid to support enterprises which are suffering losses as a result of the ever-increasing price of gold on the world market.
credit agency to police loans

Credit agency to police loans

A private credit bureau, the first of its kind to operate in Vietnam, may be set up this year to provide information on would-be borrowers to credit organisations and commercial banks upon request. However, there are still ongoing arguments over the finer details of the actual bureau model. Vu Long writes.